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  • ECB to stop issuing €500 note but keep it legal tender

    The European Central Bank will stop issuing €500 banknotes towards the end of 2018 on concerns it could facilitate illicit activities but outstanding bills will remain in use indefinitely, the ECB said in a statement. “The €500 note will remain...

  • The EU spring forecast

    Earlier this week the European Commission published its spring forecast, which seeks to evaluate the economic prospects for the whole of the EU, for the eurozone and for each individual member state. With regard to growth in the eurozone, the...

  • Alibaba’s revenue rises 39% as more buy online

    Alibaba’s revenue rises 39% as more buy online

    Alibaba Group Holding Ltd, China’s biggest e-commerce company, said fourth-quarter revenue rose 39 per cent, beating Wall Street estimates, helped by growth in gross merchandise volume. Revenue rose to 24.2 billion yuan (€3.3 billion) in the...

  • Britain’s economy slows, risks stalling as EU vote nears – PMI

    Britain’s economy slows, risks stalling as EU vote nears – PMI

    Britain’s economy slowed in April and may stall as consumers worry about June’s EU referendum, reaching levels at which in the past the Bank of England began to consider rate cuts, a survey of the dominant services industry showed. If last month’s...

  • US and European shares rise with oil price, dollar gains

    US and European stock markets recovered yesterday after a rebound in oil prices boosted energy shares, with some strong European earnings reports also supporting stocks in the region, while the dollar rose ahead of today’s US employment data. Oil...

  • FIMBank reaches 2-year high

    FIMBank reaches 2-year high

    The MSE Share Index recovered some of yesterday’s losses as it bounced back by 0.25% to 4,566.103 points on improved trading activity amounting to €267,000. Most notably, FIMBank plc advanced 1.3% to a fresh 2-year high of USD0.775 across 26,000...

  • FIMBank reaches 2-year high

    The share index recovered some of yesterday’s losses as it bounced back by 0.25 per cent to 4,566.103 points on improved trading activity amounting to €267,000. Most notably, FIMBank advanced 1.3 per cent to a fresh two-year high of 77c5US across...

  • Brexit could ‘loom large’ over June policy meeting – Fed

    Brexit could ‘loom large’ over June policy meeting – Fed

    Atlanta Federal Reserve president Dennis Lockhart said that Britain’s vote on whether to stay in the European Union could “loom large” as the US central bank contemplates whether to raise interest rates at its next policy meeting. “Brexit could be...

  • EU bank watchdog calls for more capital transparency

    Greater disclosure of all the capital requirements faced by banks would reinforce financial stability and reassure investors no hidden dangers lurk on balance sheets, a top European Union banking regulator said yesterday. Andrea Enria, chairman of...

  • Crowdfunding potential growing

    Crowdfunding remains relatively small but is developing rapidly and, if appropriately regulated, it has the potential to be a key source of financing for SMEs over the long term, the European Commission has found. The European Commission has...

  • EU’s highest court upholds restrictive new law on cigarettes

    EU’s highest court upholds restrictive new law on cigarettes

    Europe’s highest court yesteday upheld a tough EU law on standardising cigarette packaging and banning advertising of e-cigarettes, paving the way for its adoption this month. The EU Court of Justice’s rejection of a legal challenge brought by...

  • Markets retreat for second day over growth worries

    Global equity markets fell for a second straight day yesterday on mostly weak economic data and metals prices slipped on renewed signs of a downturn in global growth. Lacklustre manufacturing data from around the world sparked the selling, notably...

  • Shipping movements

    The following ships will be calling at Malta this week: The Elbella from Mersin to Alexandria, the CMA CGM Manet from Algeciras to Livorno, the Janina from drydocking to Tunis, the CMA CGM Callisto from Djibouti to Valencia (all CMA CGM Malta...

  • State guarantees should be capped

    State guarantees should be capped

    Government guarantees should be capped and anything over the threshold should need parliamentary approval, the Fiscal Advisory Council has recommended. The chairman of the council, Rene Saliba, said that the outstanding level of government...

  • Partners sought for EU integration effort

    Partners sought for EU integration effort

    Eurochambres is hoping to rein in more partners for an EU-wide effort to integrate refugees, seeing them not as a challenge to society and the business community – but an opportunity to fill skills gaps. President Arnaldo Abruzzini, speaking to...

  • Financial services catching up on traders

    Financial and insurance services companies make up 15.6 per cent of the 87,971 companies registered on the island, rapidly catching up with wholesale and retail trade activities which accounted for 20 per cent in 2015. The past five years have...

  • A share in success

    A share in success

    Bank of Valletta reported a pre-tax interim profit of €68.5 million but reduced its dividend payout to 22 per cent post-tax. Chief executive officer Mario Mallia explained to Vanessa Macdonald that the profit had to be seen in the long-term...

  • Friedman forgotten?

    Friedman forgotten?

    Suppose there were a world with stable prices in which a cup of coffee costs the same next year as it costs today. Would that be a bad world, a world without a future? Your father and grandfather told you to save money for a rainy day. To make...

  • Office, sweet office

    Office, sweet office

    It used to be so simple. You went to work, took the cover off your typewriter, spent eight hours wheeling and dealing, and went home. Now, work and home are interchangeable, typewriters have been replaced by leased computers using apps in the...

  • Keeping tabs on taxes

    Keeping tabs on taxes

    After the sovereign debt crisis, it was clear that member states had to get their public finances in order. Strengthening governance in fiscal policy was a priority and new legislation mandated the setting up a fiscal council in each member state...

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