Advert

News

  • Argentina aims to skirt US court, bring debt under national law

    Argentina aims to skirt US court, bring debt under national law

    President Cristina Fernandez on Tuesday unveiled legislation that seeks to push bondholders to swap defaulted debt for new notes governed by Argentine law, a move aimed at skirting a US ruling that prevented her government from paying its...

  • Balfour Beatty rejects third Carillion offer

    Balfour Beatty rejects third Carillion offer

    British engineering company Balfour Beatty yesterday rejected Carillion’s third merger proposal, saying it failed to address the risks in the deal and only represented a small increase in value. Carillion had gone public with its latest approach...

  • Citigroup will exit its retail banking in Japan

    Citigroup Inc is preparing to sell its Japanese retail banking operations, a source with direct knowledge of the matter said yesterday, as it waves the white flag on a venture plagued by regulatory troubles and anaemic lending. The company which...

  • China fines Japanese auto parts makers $201m for price-fixing

    China fines Japanese auto parts makers $201m for price-fixing

    China has fined Japanese auto parts makers a record 1.235 billion yuan ($201 million) for manipulating prices as the government steps up its enforcement of an anti-trust law that has targeted major corporations and revived protectionism...

  • Equities ease on back of BoE minutes

    Global equity markets eased yesterday on a spate of poor corporate results and the release of Bank of England minutes that showed two of the bank’s policymakers unexpectedly voted earlier this month for an interest rate hike. Sterling and UK bond...

  • Germany sticks to 2014 growthforecast despite disappointing Q2

    Germany sticks to 2014 growthforecast despite disappointing Q2

    The German government is sticking to its forecast that Europe’s largest economy will grow by 1.8 per cent this year even after it suffered a contraction in the second quarter, one of Germany’s state secretaries for economics told Reuters...

  • Shipping movements

    The following ships are expected in Malta: The Antwerp from Bejaia to Bejaia Said and the Maersk Emden from Suez Canal to Valencia (Thomas Smith Shipping Ltd), the CMA CGM Agadir to Algiers, the Ecem Kalkavan from Civitavecchia to Catania and the...

  • High trading activity across the equity market

    High trading activity across the equity market

    This morning’s session of the Malta Stock Exchange was particularly busy considering the mid-summer season with €650,000 worth of trades taking place across the equity market. However, the MSE Share Index declined by 0.6% to 3,286.717 points as...

  • AP Moller-Maersk to buy back shares for first time in history

    AP Moller-Maersk to buy back shares for first time in history

    Denmark’s AP Moller-Maersk announced the first share buy-back in its 110-year history yesterday as an overhaul of the sprawling shipping and oil empire leaves it with more cash than it can usefully invest. Maersk shares jumped 5 per cent after the...

  • France set to boost housing, cut taxes for low-paid employees

    France set to boost housing, cut taxes for low-paid employees

    The French government will announce measures soon to boost construction and give tax relief to low income households, a minister said yesterday as President François Hollande tries to pull the economy out of stagnation. Real estate has become a...

  • BHP announces spin-off plan

    BHP announces spin-off plan

    The world’s biggest mining company, BHP Billiton, announced plans to spin off businesses worth an estimated $16 billion, most of them acquired in a 2001 merger, to focus on its most profitable activities. But it held off on a share buyback,...

  • eBusiness Awards launched

    Nominations for the fourth edition of the MCA eBusiness Awards are now open. The MCA eBiz awards acknowledge the use of technology in the entrepreneurial efforts of individuals and organisations The Malta Communications Authority has established...

  • Future of insurance block exemption

    Now is the time for the insurance industry to sound its voice. A consultation recentlylaunched by the European Commission seeks to gather the views of stakeholders in the insurance sector on the future of the current Insurance Block Exemption...

  • Wall St extends global stocks rally

    Global stock markets rose yesterday as investors turned bolder on signs the Ukraine crisis was easing and monetary policy appeared likely to remain accommodative. The dollar climbed smartly as the euro sank to a nine-month low against the...

  • Company briefs

    Company briefs

    The recently launched TransLog logo designed by BPC. Translog Awards has launched the logo for its first edition, being held later this year, which will recognise the achievements of companies and individuals operating in transport and logistics...

  • MSE Share Index down on losses in both BOV and HSBC

    MSE Share Index down on losses in both BOV and HSBC

    Trading activity during this morning’s session at the Borza was encouraging with a value of €225,680 across 8 active equities. The MSE Share Index retreated by 0.1% to 3,306.447 points, as losses in BOV, HSBC and 2 other equities offset the...

  • Regulators push banks to rid casinos of money laundering

    Regulators push banks to rid casinos of money laundering

    Large global banks are facing increased pressure from US regulators to clamp down on casino money laundering as the government pushes the industry to police not only its own transactions but customers’ as well. Bankers, casino executives and...

  • Money market report for the week ended August 15

    On Monday, August 11, the European Central Bank announced its weekly main refinancing operation (MRO). The auction was conducted the following day and attracted bids from euro area eligible counterparties of €108.20 billion, €0.28 billion higher...

  • With cigars and crystal, Volvo makes eyes at Chinese rich

    With cigars and crystal, Volvo makes eyes at Chinese rich

    With headlights shaped like Thor’s hammer and space for a humidity-controlled cigar case, Volvo’s new cars are sporting luxury features and designer glitz to catch the eye of the booming Chinese market and shed their safe-but-dull skin. The XC90...

  • Thai CPF gets McDonald’s Japan orders after food scare in China

    Thai CPF gets McDonald’s Japan orders after food scare in China

    Charoen Pokphand Foods Pcl, Thailand’s largest meat and animal feed producer, said yesterday its business was booming, especially after it was approached by McDonald’s Holding Co (Japan) to supply chicken products after a food scare in...