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  • German industrial output plunges in December as exports also drop

    German industrial output plunges in December as exports also drop

    German industrial output plunged unexpectedly in December and exports and imports also fell, data showed yesterday, in a sign that Europe’s largest economy ended 2015 on a weak footing. Industrial output fell by 1.2 per cent on the month, the...

  • Nikkei posts biggest drop in three years as global growth fears hit banks

    Nikkei posts biggest drop in three years as global growth fears hit banks

    Japan’s Nikkei share average posted its biggest daily drop in nearly three years yesterday, with banks taking the brunt of the sell-off, while a stronger yen dragged down stocks across the board. The Nikkei ended 5.4 per cent lower at 16,085.44...

  • India sees higher growth even after economy loses steam

    India sees higher growth even after economy loses steam

    India’s economic growth slowed in the last quarter of 2015. Gross domestic product grew an annual 7.3 per cent in the October-December quarter, less than an upwardly revised 7.7 per cent in July-September. That rate of growth was faster than the...

  • Shares extend losses on fears over global growth and banks

    Stock indexes worldwide tumbled for the third straight session yesterday on fears of slowing global growth, with particular concern around the health of the banking sector, while benchmark US Treasury yields hit fresh one-year lows. The European...

  • Share index slides to 2-week low

    Yesterday’s rebound in the share index was short-lived as the local equity benchmark slipped by 0.38 per cent during this morning’s session to a fresh two-week low of 4,464.134 points largely due to the declines in BOV, HSBC and IHI. After holding...

  • Iran wants euro payment for new and outstanding oil sales – source

    Iran wants euro payment for new and outstanding oil sales – source

    Iran wants to recover tens of billions of dollars it is owed by India and other buyers of its oil in euros and is billing new crude sales in euros, too, looking to reduce its dependence on the US dollar following last month’s sanctions relief. A...

  • Peugeot to pay $446 million compensation for sanctions move

    French car-maker PSA Peugeot Citroen will pay Iran over €400 million in compensation for losses after it quit the country due to sanctions, the managing director of the country’s largest carmaker said. Peugeot, the biggest-selling European...

  • Money market report for the week ended February 5

    On Monday, February 1, the European Central Bank (ECB) announced its weekly main refinancing operation (MRO). The operation was conducted the following day and attracted bids from euro area eligible counterparties of €61.23 billion, €7.74 billion...

  • UniCredit shareholder says bank may need management change

    An influential shareholder in Italy’s biggest bank by assets, UniCredit, said yesterday the lender may need a change of management as chief executive Federico Ghizzoni battles to retain investors’ confidence. Leonardo Del Vecchio, a veteran...

  • Oil prices slide, supply overhang now in focus

    Oil prices slide, supply overhang now in focus

    Crude oil prices fell yesterday because of lingering concerns over a supply overhang and after a Saudi-Venezuela meeting showed few signs that steps would be taken to boost prices. Global benchmark Brent futures were down 68 cents at $33.38 at...

  • Shares fall on global growth concerns

    Stock indexes worldwide tumbled yesterday, led by banking stocks in Europe and technology stocks on Wall Street on persisting fears of a global economic slowdown, while benchmark 10-year Treasury yields hit their lowest in a year on demand for...

  • BOV and GO lift MSE Share Index

    BOV and GO lift MSE Share Index

    After trending in negative territory for the past two weeks, the MSE Share Index edged 0.3% higher during this morning’s session to 4,481.364 points largely due to the positive movements in the share prices of BOV and GO. Bank of Valletta plc...

  • The millennials’ impossible dream

    The millennials’ impossible dream

    It must be the dream of most young people to find work as soon as their education is completed so that they can establish themselves as productive members of society. But for many millennials in Europe finding a decent job is proving to be an...

  • Campaign for ‘Brexit’ takes a nine-point lead – survey

    The campaign for Britain to leave the European Union has taken a nine-point lead over the rival ‘in’ campaign, according to a poll taken since Prime Minister David Cameron set out his proposals to keep the country in the bloc. The survey by YouGov...

  • EU referendum campaigning could affect business investment – Carney

    EU referendum campaigning could affect business investment – Carney

    The outlook for business investment in Britain could be affected by how campaigning around the country’s European Union membership referendum unfolds, Bank of England governor Mark Carney said. The BoE expects to see business investment growing at...

  • Sterling could fall 15-20% if Britain leaves European Union – Goldman

    Sterling could fall as much as 15-20 per cent if Britain votes to leave the European Union, a scenario that could alarm foreign investors and dry up the capital inflows needed to fund the current account deficit, Goldman Sachs said. “The UK’s...

  • June EU vote would ease uncertainty for UK economy – Moody’s ratings

    A June referendum in Britain on whether to remain part of the European Union would reduce political and economic uncertainty caused by the vote, Moody’s said, warning again that a ‘Brexit’ would be negative for the UK’s credit rating. Kathrin...

  • ­­­Shipping movements

    These ships are expected in Malta: The BC Hamburg from Algiers to Algiers, the Stadt Flensburg from Algiers to Algers (both Thomas Smith & Co. Ltd), the Cielo di Casablanca from Skikda, the AS Mars from Varna to Poti, the Sirius from Tartus to...

  • ‘It’s not the price of the product but the value’

    ‘It’s not the price of the product but the value’

    MHRA president Tony Zahra speaks to Anthony Manduca about the challenges and opportunities for the tourism industry, which has just announced very encouraging 2015 results. “There is no doubt that over the years the Maltese have tended to opt to...

  • €91 million invested in Malta by MFC

    MFC Industrial Ltd, a Canadian company listed on the New York Stock Exchange, has invested €91 million in Malta through the acquisition of Bawag Malta Bank Ltd, a bank that has been fully-licensed in Malta since 2003 and was previously owned by...