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News

  • Yen falls on rate cut talk, earnings damage US stocks

    Speculation that the Bank of Japan could effectively start paying banks to borrow its cash caused the yen to tumble yesterday, while US stocks dropped on disappointing earnings reports from some top companies. Shares of Google’s parent, Alphabet,...

  • No deal between Greece and lenders – officials

    No deal was reached between Greece and its lenders yesterday that would unlock loans and enable vital debt relief talks, despite some progress on the reforms Athens must implement in exchange, eurozone and IMF officials said. “Don’t expect any...

  • Daily currency report

    There were no significant euro moves on Thursday although there was plenty of choppy price action around the European Central Bank’s important monetary policy decision and president Mario Draghi’s press conference. The ECB made no changes to its...

  • Third consecutive daily decline for share index

    The share index trended lower for the third consecutive session with a further 0.1 per cent drop to 4,534.762 points as most of the large equities by market capitalisation eased into negative territory. Over the week, the local equity benchmark...

  • Tricky arguments over compensation as National Bank saga approaches its end

    Tricky arguments over compensation as National Bank saga approaches its end

    The government’s consultants are expected to present their final arguments for the valuation of the former National Bank on May 5, with the bank’s shareholders hoping to be given the chance to challenge them during the final hearing expected as...

  • Malta gets EU nod for new energy law

    Malta gets EU nod for new energy law

    The EU Commission has informally informed the Building Regulation Office (BRO) that its proposed building energy legislation is in line with EU directives – allowing it to breath a sigh of relief as Malta had at one point been facing a minimum €33...

  • The risk/reward concept

    The risk/reward concept

    A news item that caught my attention this week was the statement made by the director of the house run by the Salesians, Dar Osanna Pia, stating how there are a growing number of youths who are becoming comfortable depending on social benefits.

  • Greece’s 2015 primary surplus beats target, but already discounted

    Greece’s 2015 primary surplus beats target, but already discounted

    Greece had a primary surplus last year that beat the target set in its bailout programme, according to the European Commission, but eurozone officials said the number was already discounted in talks between Athens and lenders on reforms and debt...

  • Mario Draghi keeps rates at rock bottom in face of German backlash

    Mario Draghi keeps rates at rock bottom in face of German backlash

    European Central Bank president Mario Draghi brushed off German criticism of his ultra-loose monetary policy yesterday and vowed to use all the tools at his disposal for “as long as needed”. He said the ECB’s policy was working, which helped boost...

  • Stocks steady as euro slips and oil down

    The euro turned lower against the US dollar yesterday after ECB president Draghi pledged to keep monetary policy loose, while oil prices slipped on further evidence of oversupply and a stronger dollar. US stocks were little changed following mixed...

  • Reputation matters to compliance officers

    Reputation matters to compliance officers

    Reputation management is not a prerogative of large institutions and must be seen as an important matter by small- and medium- sized companies as well. Compliance officers within the financial services industry are aware that it is becoming...

  • British SME firms face £35.6bn Brexit hit – report

    Uncertainty surrounding Britain’s vote on whether to stay in or leave the EU has left small- and medium-sized British companies facing a £35.6 billion currency risk, a report said yesterday. It is the amount of international payments potentially...

  • Dutch court overturns $50bn Yukos award against Russia

    In a victory for Moscow, a Dutch court yesterday overturned an order that Russia pay $50 billion to shareholders in defunct oil company Yukos, saying that the Hague-based Permanent Court of Arbitration had no jurisdiction. “The court quashed the...

  • Oil bounces on stockpile data as the dollar gains

    Oil prices jumped yesterday as government data showed US crude stocks rose slightly less than expected last week, while the US dollar advanced against the euro ahead of today’s European Central Bank meeting. US stocks climbed following gains in...

  • Mitsubishi Motors manipulated fuel economy tests

    Mitsubishi Motors Corp. said it falsified fuel economy test data to make emissions levels look more favourable, and its shares slumped more than 15 per cent, wiping $1.2 billion from its market value yesterday. Tetsuro Aikawa, president of Japan’s...

  • Shipping movements

    These ships are expected in Malta: The Bomar Juliana from Algeciras to Livorno, the CMA CGM Hydra from Djibouti to Valencia (both CMA CGM Malta Agency Ltd), the Allegro from Ancona to Salerno (Sullivan Shipping) and the Seago Bremerhaven from...

  • Maltese-listed company embroiled in French inquiry

    Maltese-listed company embroiled in French inquiry

    The Pefaco Group has denied stories in the international media about involvement with the Bolloré Group, which is being investigated in connection with port concessions in West Africa, saying it was at the disposal of the judicial authorities...

  • AAT set for internationalisation

    AAT set for internationalisation

    AAT Research has head hunted Wolfgang Storf, the former CEO of Novartis-Sandoz in South Africa, as the five-year-old company gets ready for international growth. “It’s a great opportunity for me as I think AAT has a unique approach to problem...

  • Logistics: the challenge to fill northbound freight

    Logistics: the challenge to fill northbound freight

    According to the latest statistics, the trade deficit in Malta widened by 45.9 per cent year-on-year to €558 million in February 2016 – the highest trade gap on record. This statistic is no doubt of great concern to economists who view it in terms...

  • Contractual clauses may fall foul of data protection

    Contractual clauses may fall foul of data protection

    Companies that share data – on both clients and employees – with countries outside the EU will have to wait to see how they will be impacted by new legislation which should be introduced over the next two years. These companies currently on...

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