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International

  • Commission investigating merger of TeliaSonera and Telenor

    The European Commission has opened an in-depth investigation to assess whether the proposed joint venture between the Danish operators TeliaSonera AB and Telenor ASA is in line with the EU Merger Regulation. Both companies provide...

  • Greece raises €1.1bn, sells all six-month T-bills on offer

    Greece raises €1.1bn, sells all six-month T-bills on offer

    Greece raised €1.138 billion at an auction of six-month Treasury bills yesterday, moving the full amount on offer in the first of two sales this month as it tries to roll over debt and navigate its way through a cash crunch. Despite Athens’...

  • Stocks gain on Royal Dutch Shell bid as dollar slips

    Global equity markets rose on yesterday, with European shares hitting eight-year highs on Royal Dutch Shell's $70 billion bid for energy firm BG Group, while the dollar slipped ahead of the release of US Federal Reserve minutes. Equity markets...

  • €2.5bn plan to boost business investment of French firms

    €2.5bn plan to boost business investment of French firms

    French firms will benefit from bigger tax rebates on their investments as part of reforms announced yesterday to boost business activity. Flat business investment remains a drag on the improving economic outlook for the eurozone’s second-largest...

  • EU reimposes sanctions on Iranian bank and 32 shipping companies

    The EU reimposed sanctions on an Iranian bank and 32 Iranian shipping companies yesterday, using new legal grounds, after the measures were struck down by a European court. Coming days after Iran and six major powers reached a framework agreement...

  • Shipping movements

    The following ships are expected in Malta: The Xin Da Lian from Port Klang to Koper, the Taurus J from Algiers to Bejaia (both Carmelo Caruana Co. Ltd), the MV Eurocargo Malta from Genoa to Genoa (Sullivan Maritime) and the Vega Stockholm from...

  • Australia ready to join China-led bank, seeks clarity on governance

    Australia ready to join China-led bank, seeks clarity on governance

    Australia is “well and truly” disposed to join the China-led Asian Infrastructure Investment Bank (AIIB), Prime Minister Tony Abbott said yesterday, but wants to know how much power Beijing would hold in the institution before a formal...

  • French business morale at three-year high

    French business morale was at its highest for nearly three years in March, adding to signs the eurozone’s number two economy is emerging from stagnation on the back of lower oil prices and a weaker euro. The composite indicator of morale rose to...

  • Kraft, Heinz deal to form North America’s No. 3 food company

    Kraft, Heinz deal to form North America’s No. 3 food company

    Kraft Foods Group Inc., the maker of Velveeta cheese and Oscar Mayer meats, will merge with ketchup maker H.J. Heinz Co., owned by 3G Capital and Berkshire Hathaway Inc., to form North America’s third-largest food and beverage company. Kraft’s...

  • Stocks slump and dollar slips on US growth worries

    Wall Street stocks tumbled and the dollar slipped yesterday after government data signaled the US economic expansion was slowing, while gains in the euro prompted a pullback in European stock markets. The main US stock indices were off more than...

  • ECB actions working, but structural reforms needed – Liikanen

    ECB actions working, but structural reforms needed – Liikanen

    European Central Bank policy actions have had a clear positive impact on the eurozone economy, but member states still need to adopt structural reforms to support the recovery, ECB Governing Council member Erkki Liikanen said. Liikanen, who is...

  • Shipping movements

    The following ships are expected in Malta: The Sena Kalkavan from Varna to Avcilar, the Jork Valiant from Sfax, the Oued Ziz from Skikda to Skikda (all Carmelo Caruana Co. Ltd), the BC Hamburg from Tunis to Algiers (Thomas Smith Shipping Ltd) and...

  • Euro dives under $1.06 for first time since 2003 as QE bites

    Euro dives under $1.06 for first time since 2003 as QE bites

    The battered euro took another plunge towards parity with the dollar yesterday, shedding over 1 per cent to trade below $1.06 for the first time in 12 years as a €1.1 trillion bond-buying programme beganto bite. The European Central Bank started...

  • China comfortable with inflation of 1-2% – central bank adviser

    China comfortable with inflation of 1-2% – central bank adviser

    Whether China further loosens monetary policy this year will depend “very much” on inflation, a central bank adviser said yesterday, adding that policymakers will be comfortable if inflation is not in a downtrend but stable between 1-2 per...

  • Credit Suisse’s new boss could axe 2,900 bank jobs

    Credit Suisse’s next chief executive, Tidjane Thiam, could cut almost 3,000 jobs from its investment bank, or 15 per cent of staff, as part of a shift of capital away from trading desks to private banking in Asia, analysts said. Thiam is expected...

  • ECB action shields eurozone states from Greek contagion – Draghi

    European Central Bank buying of government and other debt may be shielding countries in the eurozone from any knock-on effect from events in Greece, ECB president Mario Draghi said yesterday. The ECB began a policy of printing money to buy...

  • Cairn files notice against India in $1.6bn tax dispute

    Oil explorer Cairn Energy Plc has filed a dispute notice against the Indian income tax department over a $1.6 billion tax claim for the fiscal year ended March 2007, in the latest case of a tax row involving a foreign company. The dispute notice...

  • Euro sinks to 12-year lows, equities gain

    The euro dived to a 12-year low against the dollar yesterday, driving European stocks higher as shares of the region's big exporters gained, while US equity markets edged higher despite concerns about when the Federal Reserve would begin to raise...

  • Fed’s Yellen flags rate hikes on ‘meeting-by-meeting’ basis

    The Federal Reserve is preparing to consider interest rate hikes “on a meeting-by-meeting basis”, Fed chair Janet Yellen told a congressional committee, a subtle shift of emphasis that helps lay the groundwork for the Fed’s first rate hike since...

  • European Commission consults on Capital Markets Union

    The European Commission has launched a landmark project, starting with a three-month consultation period, to unlock funding for Europe’s businesses and to boost growth through the creation of a single market for capital. The Capital Markets Union...

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