News
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EU watchdog maps out anti-rigging rules for Libor
EU regulators yesterday published guidelines to stop banks rigging Libor and other market benchmarks in an interim measure before a more far-reaching EU law comes in. The draft law, to be published in a few weeks, would propose shifting the...
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Daily currency report
The British pound is closing in on one-month highs against the US dollar and on a trade-weighted basis after robust data on Britain’s services industry boosted optimism about the UK’s economic recovery. In contrast, the US dollar came under further...
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MSE Share Index rounds off positive week at 2-year high
The MSE Share Index rounded off a positive week with a fourth consecutive increase to end this shortened week at a two-year high. The local equity benchmark edged a further 0.2 per cent higher to 3,390.775 points representing a 0.8 per cent increase...
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Property scheme distinct from entitlement to social services
None of the residents who benefitted from the previous property scheme had applied for long-term residence and would therefore not have been eligible for social services – a fear raised by the PN in its reaction to the new Global Residence Scheme...
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Penalties eased for VAT defaulters
Finance Minister Edward Scicluna has announced five measures which will make it easier for those who are in default of VAT payments to regularise their position. In the past, individuals or companies that were in default found themselves caught in...
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Istanbul protests enter second week
The rioting in Istanbul has surprisingly not had any adverse affect on travel bookings, with no noticeable cancellations on either Turkish Airlines or Air Malta in spite of the fact that more than 200 demonstrations were held in 67 cities across the...
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Medserv bidding for East Africa operation
Medserv has moved one step closer to its first operation in East Africa after its joint bid with a European partner for a project in Tanzania was shortlisted. Chairman Anthony Diacono noted that, if successful, this would be the company’s first...
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Latvia to join eurozone in 2014
Latvia is ready to become the 18th country using the euro from the start of next year, the European Commission announced yesterday, a decision that will be formally approved by European Union finance ministers on July 9. “The Commission considers...
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Banks paid €168m in taxes in 2012
The 26 banks forming the Malta Bankers’ Association paid €168 million in taxes on the profit derived from ordinary activities, according to the newly-appointed chairman of the association’s board, Charles Borg. Addressing the recent annual general...
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Aviation experts brief stakeholders on jurisdiction incentives
Maltese officials involved in establishing Malta as an aviation jurisdiction received invaluable feedback from experts attending an international conference held at the Westin Dragonara. The annual European conference of L2B Aviation brought...
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BOV launches its new BOV Skypass premium credit card
Bank of Valletta has introduced the BOV Skypass credit card which provides customers with an entry point into the bank’s range of premium cards. The Skypass, as with the BOV Visa Platinum and Visa Gold cards, attracts additional benefits when...
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60% of companies involved in CSR
Awareness of corporate responsibility issues is growing and local companies believe that its importance will increase in the years to come, according to a survey conducted by PwC Malta. The understanding of the term corporate social responsibility...
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Third successive gain for MSE Share Index
The MSE Share Index maintained its recent positive trend with a third successive increase as the local equity benchmark edged a further 0.1 per cent higher during this morning’s session to yet another two-year high of 3,384.790 points. Today’s...
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RBS could be split into two banks
Splitting up part-nationalised Royal Bank of Scotland (RBS) will be put forward as an option by a parliamentary panel examining standards in British banking, political and industry sources said yesterday. The bank’s division would allow its toxic...
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Stocks globally gain, while US indices fall
Stocks on world markets and the dollar gained yesterday, though Wall Street fell, as expectations remained intact that the Federal Reserve will maintain its stimulus program to bolster the nascent US economic recovery. A minor lull in the week’s...
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Daily currency report
The greenback crashed through key psychological trading levels against the yen for the first time in weeks, as record-low ISM manufacturing index poured cold water over bets the Federal Reserve was just a few meetings away from starting to pare back...
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Eurozone factory slump eases
Eurozone manufacturing contracted again last month, although at a slightly slower pace, while Asian factories lost momentum, underlining the sombre prospects for the world economy in the second quarter. Markit’s Purchasing Managers’ Indexes (PMI)...
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Money market report for the week ended May 31
On Monday, May 27, the European Central Bank (ECB) announced its weekly main refinancing operation (MRO). The auction was conducted on the following day and attracted bids from euro area eligible counterparties of €103.19 billion, €0.21 billion...
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European stocks bruised by worries on global economy
European shares fell yesterday, with concerns about the health of the economy in Germany and the United States prompting investors to lock in profits on top performers of recent months. Data from the Institute for Supply Management pointed to an...
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Eurozone ‘on track for very gradual recovery’
The eurozone economy is on track for a recovery later this year driven by the European Central Bank’s loose monetary policy and demand from abroad, the bank’s President Mario Draghi said. The ECB cut interest rates to a new record low in May and...
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Daily currency report
In Discussion
Middlesea launches insurance for pets
UK spied on G20 officials
6pm jumps 5% on new contract
MIA closes at new high of €2.05
Tycoon’s ex-wife wins landmark UK...
EU tax chief urges Swiss to end bank secrecy
Buzz on Telecoms merger boosts European...
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Daily currency report
