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  • European Central Bank’s ­negative rates to hit eurozone bank profits

    European bank profits will suffer under the European Central Bank’s negative interest rate policy because they find it too difficult to pass charges on to clients, Deutsche Bank’s chief financial officer said yesterday. Eurozone banks have faced...

  • Banks push index into negative territory

    The Malta Stock Exchange index fully erased last week’s gain as it fell by 1.1 per cent, to close at 3,286.615 points. Activity was spread across 16 equities of which six edged higher, seven declined and three closed unchanged. FIMBank plc shares...

  • China rate cut and ECB stimulus hopes boost world markets

    World stock markets and oil prices rallied yesterday, fuelled by hopes for global growth following a surprise rate cut by China and as the European Central Bank indicated it would step up its asset purchases to boost the eurozone economy. The jump...

  • Delta confirms $14bn order for Airbus Group

    Delta confirms $14bn order for Airbus Group

    Delta Air Lines Inc confirmed a $14 billion order for 50 widebody jets from Airbus Group NV, a victory for the European planemaker that replaces older generation aircraft from Boeing Co. in Delta’s fleet. The order, which was first reported on...

  • Healthcare organisations ‘must think ­long-term’

    Healthcare organisations ‘must think ­long-term’

    Challenges facing the healthcare sector are well known, yet governments and private sector organisations struggle with how to make meaningful change that will deliver sustainable healthcare at an affordable cost. KPMG International brought...

  • Daily currency report

    The week was full of surprises. US inflation figures and the release of the FOMC minutes did not go the way many thought, which provided a good degree of volatility. The euro traded in ranges against the US dollar, but the dollar was able to...

  • Share index this week down 1.1 per cent

    Share index this week down 1.1 per cent

    Despite the marginal increase in the share index today, the equity benchmark still closed the week 1.1 per cent lower at 3,286.0615 points. Bank of Valletta eased 0.2 per cent lower to €2.24,1 on subdued trading activity of only 5,554...

  • EU court adviser recommends upholding limit on bank bonuses

    A legal adviser to the European Court of Justice yesterday recommended that the court uphold the European Union’s cap on bankers’ bonuses after a complaint by Britain. The EU law limits a bonus to a sum that is no more than a banker’s fixed pay,...

  • The politics of paradox

    Last Saturday, Lord Maurice Glasman delivered a lecture at the Catholic Institute in Floriana as part of the course organised by the Pastoral Formation Institute and the local Chapter of the Centesimus Annus Pro Pontifice Foundation. The title of...

  • Banks chase trading cheats with ‘fuzzy’ surveillance

    Banks chase trading cheats with ‘fuzzy’ surveillance

    Stung by billion-dollar fines for malpractice on their trading floors, the world’s big banks are using ‘fuzzy logic’ tools such as relationship mapping and behavioural analytics to read the minds of would-be cheats among their traders. On...

  • Gatwick records busiest six months

    Gatwick records busiest six months

    Gatwick Airport, Britain’s second busiest airport which is competing to be chosen as the site for a new runway, reported the six months ended September 30 were its busiest on record, with passenger numbers in the period up 8 per cent. Gatwick...

  • Britain’s RBS fined £56m for 2012 systems crash

    Royal Bank of Scotland has been fined £56 million by Britain’s financial regulators for a system crash in 2012 that left millions of customers unable to make or receive payments. The 2012 outage, caused by a botched software upgrade, affected 6.5...

  • ECB dips toe into dead sea of rebundled debt

    ECB dips toe into dead sea of rebundled debt

    The European Central Bank is set to embark this week on a scheme to buy the kind of rebundled debt that sparked the global economic crash. With sparse investor interest its efforts could fall short. Asset backed securities (ABS), reparcelled debt...

  • World growth worries weigh on markets

    World stock markets slipped yesterday on signs the Chinese and European economies were cooling, while Japan’s yen slid to a seven-year low against the dollar on expectations of more Japanese stimulus. Wall Street prices rose as US data on factory...

  • Company briefs

    Company briefs

    Emirates has given its airport staff a mobile application which enables them to get real-time information, regardless of where they are in the airport. “The size and scale of our operations at the airport can be a challenge, especially during peak...

  • Share index drops back to 12-week low

    Share index drops back to 12-week low

    The share index this morning reversed yesterday’s rebound with a 0.4 per cent drop back to a new 12-week low of 3,283.788 points as a number of equities closed lower. Most notably, the share price of HSBC slipped 2.1 per cent back to its 2014 low...

  • Libya crisis causing lay-off pressure – Chamber

    Libya crisis causing lay-off pressure – Chamber

    Companies affected by the Libya crisis will probably have to start laying off staff by the end of the year, the chairman of the Libyan Action Committee Frank Farrugia warned. The committee, which falls under the Malta Chamber of Commerce,...

  • HSBC Bank Malta underprovisioned by €30 million

    HSBC Bank Malta underprovisioned by €30 million

    HSBC Bank Malta was found to be underprovisioned by €30 million during the recent asset quality review carried out by the European Central Bank. Bank of Valletta had been underprovisioned by €16 million – mostly in corporate loans, but when...

  • New property valuation procedure ‘will save time’

    New property valuation procedure ‘will save time’

    The removal of the government’s property valuation system has a number of benefits, ranging from certainty for buyers to the ability to start improvements immediately. Until now, the Inland Revenue Department would send its architect to value...

  • When wealth comes on wings

    When wealth comes on wings

    The search is on for Maltese ready to invest in entrepreneurs – but the potential ‘business angels’ are being warned that they must understand what they are letting themselves in for. Business angels put up money to help companies in the early...