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  • Daily currency report

    The US dollar index held tight to near four-year highs, while floating at 14-month highs against sterling and seven-year highs against the yen. The lack of US economic data and a public holiday on Tuesday damped momentum for further dollar gains.

  • Company briefs

    Company briefs

    Primary school students are being encouraged to help Maltese charities by collecting and depositing plastic bottle caps in recycling bags at their respective schools. The schools were supplied with GreenPak’s recycling bags, as part of the fourth...

  • BOV, HSBC drag share index lower

    BOV, HSBC drag share index lower

    The share index shed 0.5 per cent to 3,321.763 points due to the declines in the share price of the two large banks. As Bank of Valletta started trading ex-div, the equity declined by 1.8 per cent to €2.24 across 13 deals totalling 18,786 shares.

  • Responsibility towards the future generations

    As the Minister of Finance prepares the Budget speech this weekend and, together with his Cabinet colleagues, puts the final touches on the Budget measures, he needs to take account of one crucial factor. What is going to be the impact of this...

  • China data shows economy cooling further, need for more policy support

    China data shows economy cooling further, need for more policy support

    China’s economy lost further momentum in October, with factory growth dipping and investment growth hitting a near 13-year low, testing the government’s resolve to avoid stronger stimulus measures. The soft performance cemented the view that China...

  • Chinese offshore oil executive is probed on suspected graft

    A senior official of China National Offshore Oil Company (CNOOC) is under investigation suspected of having received bribes, China’s top prosecutor said yesterday, the first executive from the offshore oil and gas firm embroiled by Beijing’s war...

  • AstraZeneca gets sales boost from delay of generic copies

    AstraZeneca gets sales boost from delay of generic copies

    AstraZeneca raised its 2014 sales forecast for the second quarter in a row yestesrday, as the delayed arrival of generic copies of its Nexium drug in the United States kept cash flowing from the heartburn and ulcer pill. Britain’s second biggest...

  • Oil falls below $80 as US stock prices approach record highs

    US stock prices rose yesterday, hovering near record highs, while crude fell below $80 a barrel for the first time in four years on further signs of a slowdown in China’s economy. Brent crude has fallen more than 30 per cent since June, and the...

  • UK banks face break-up threat as competition investigation launched

    UK banks face break-up threat as competition investigation launched

    Britain’s big banks could be broken up after the country’s competition watchdog launched an in-depth investigation into services for small business customers and personal accounts because of a lack of competition. It marks the latest step by...

  • Company briefs

    Company briefs

    Air Malta together with Sky Gourmet will be assisting the Malta Community Chest Fund during November and December. During these months, Air Malta cabin crew will be collecting funds on board the airline’s flights towards this cause. The MCCF...

  • Banking on the Apple story

    Banking on the Apple story

    Although the Hili family has issued bonds on other occasions in the past, few investors associate them with the IT sector. In fact, PTL Holdings plc was only established in December 2013 as the holding company of the technology division of Hili...

  • Unhappy Yahoo investors are asking AOL for rescue

    At least two top-10 Yahoo Inc. shareholders are so unhappy with chief executive Marissa Mayer’s turnaround efforts that they are making a direct plea to AOL Inc. CEO Tim Armstrong to explore a merger and run the combined company. Their move...

  • Shipping movements

    The following ships are expected in Malta: The CMA CGM Corte Real from Le Haver to Khor al Fakkan, the Mozart from Valencia to Livorno, the Hansa Narvik from Alexandria to Mersin, the El Toro from La Goulette (all Carmelo Caruana Co. Ltd) and the...

  • Bank of England sees inflation below 1%

    British inflation is likely to fall below 1 per cent in the next six months, the Bank of England said yesterday, giving tacit endorsement to markets’ view that it will not raise interest rates until late next year. The central bank said that since...

  • Regulators fine global banks $3.4 billion in forex probe

    Global regulators imposed penalties totalling $3.4 billion on five major banks, including UBS, HSBC and Citigroup yesterday for failing to stop their traders from trying to manipulate foreign exchange markets. Royal Bank of Scotland and JP Morgan...

  • US stocks slip from record highs as price of Brent falls

    US stock prices fell from record highs yesterday led by weakness in the financial sector due to five banks paying fines to settle charges of currency rigging, while the oil market sagged on concerns about a supply glut, keeping benchmark Brent...

  • MIA reaches new all-time high

    MIA reaches new all-time high

    The equity of Malta International Airport had a volatile session as it opened 0.9 per cent higher at the €2.35 level before slipping to an intra-day low of €2.33. However, in the last moments of today’s trading session, new bids emerged to lift...

  • Freedom to provide services

    The right of European citizens and companies alike to provide services in any EU member state of their choice has once again been given a wide interpretation by the Court of Justice of the European Union. It is illegal for a member state to tax...

  • Vodafone lifts its forecast as new offerings boost demand

    Vodafone lifts its forecast as new offerings boost demand

    Vodafone, the world’s second-biggest mobile operator, nudged its full-year earnings forecast higher yesterday as improving demand in its big European markets and an investment push into new products helped reduce a drop in revenues. Faced with...

  • Russian central bank buys up domestic gold output as sanctions bite

    Russia’s central bank has been forced to step up its gold buying this year to absorb domestic production that Western sanctions are making it hard for miners to sell abroad, and to boost liquidity in its foreign reserves, sources said. Most...