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  • World stocks steady, dollar and euro sag

    The dollar and euro fell sharply against the yen yesterday as hopes for additional stimulus out of Japan faded, while world equity markets were relatively stable after three days of losses. Wall Street clawed back some ground after three days of...

  • Germany, EU clinch deal on renewable surcharge rebate

    Germany and the European Commission have reached an agreement on exemptions to renewable energy surcharges that benefit some German industrial companies, government and industry sources told Reuters yesterday. The sources said final details of the...

  • Samsung’s lower Q1 estimate highlights smartphone challenges

    Samsung Electronics Co. Ltd yesterday said it is on track to post its second straight quarter of profit decline, as slowing smartphone sales growth continued to weigh on earnings. The South Korean tech giant estimated that its January-March...

  • Daily currency report

    The euro’s decline to six-week lows against the US dollar has not lasted long and further downside could be put on hold. There are a couple of factors that could be lending some support to the single currency. First, economic data continues to...

  • BOV share price rebounds

    The share price of Bank of Valletta plc jumped by 5.2 per cent today to regain the €2.42 level on volumes of 28,122 shares. The equity has been recovering from its recent low of €2.18 ahead of the interim results publication due by the end of...

  • World Bank trims China, East Asia 2014 forecasts

    The World Bank trimmed its 2014 growth forecast for developing East Asia but said the region’s economies were likely to see steady growth in the next couple of years, helped by a pick-up in global growth and trade. The Washington-based development...

  • Money market report for the week ended April 4

    On Thursday, April 3, the Governing Council of the European Central Bank (ECB) decided to keep the interest rate on the main refinancing operations (MRO) unchanged at 0.25 per cent. Interest rates on the marginal lending facility and on the...

  • Stocks decline around globe

    Wall Street stocks fell one per cent yesterday, joining a broad retreat in global equities markets from a six-year high touched last week, while US Treasuries’ yields moved lower. The dollar fell against major currencies as comments from European...

  • US SEC forms squad to examine private equity and hedge funds

    The US Securities and Exchange Commission (SEC) has put together a dedicated group to examine private equity and hedge funds, after the 2010 Dodd-Frank law required the funds to be regulated, according to people familiar with the matter. The...

  • ECB to have QE primed in case needed – Mersch

    The European Central Bank is drawing up plans for large-scale asset purchases in case they are needed but there remains some way to go before that point, one of bank’s policymakers said yesterday. “The inflation and deflation risks are more or...

  • Daily currency report

    Economic data out of Germany has beat market forecast, with the news providing support for the euro. The euro is at near one-month lows against the dollar on reports that the European Central Bank is close to agreeing on a Quantitative Easing...

  • MSE Share Index retreats for third consecutive session

    The MSE Share Index retreated for the third consecutive session today with a further 0.1% drop back to 3,455.113 points as volumes dwindled to €49,858 – the lowest daily value since 20 February. The equity of GO plc continued to decline as the...

  • Whisky gets greener as distillers burn waste

    Scotch whisky distillers are burning their unwanted grain byproducts, wood chips and other types of biomass for a source of energy in remote areas of the Highlands, where gas links are scarce and fuel oil is pricey. The production of Scotch whisky...

  • G20 summits have ‘limited relevance’ for markets – ECB

    Regular meetings of the world’s leaders and central bankers have little short-term impact on financial markets, despite extensive media coverage, according to research published by the European Central Bank. ECB researchers looked at how the price...

  • Cement groups Lafarge, Holcim in $50bn merger talks

    The world’s two largest cement makers, France’s Lafarge and Switzerland’s Holcim, are in advanced talks to merge into a company with a stock market value of over $50 billion in what would be the industry’s biggest ever tie-up. The discussions,...

  • ­­­Shipping movements

    The following ships are expected in Malta this week: The Eemsdijk from Skikda to Algiers, the Partici from Valencia to Livorno, the Fas Dammam from Algiers to El Khoms (all Carmelo Caruana Co. Ltd), the Lana from Antwerp to Haifa, the Maersk...

  • Internet service improves – but latency still a problem

    The performance of broadband services in Malta has improved when compared to last year’s performance and is today better than the EU average in a number of key performance indicators, according to a report published by the European...

  • Document needed to advise retail investors

    The European Parliament and the Council have reached agreement on a mandatory Key Information Document to be supplied to retail consumers who wish to invest their savings. The proposed rules require the financial services industry to provide basic...

  • EY Malta revenue up 42%

    EY Malta has announced revenues of €11.4m for the calendar year ended December 31, 2013, an increase of 42 per cent over the previous year. Commenting on these results, Ronald Attard, EY’s managing partner in Malta, said: “This has been a very...

  • Fimbank purchases more shares in Indian company

    Fimbank’s wholly-owned subsidiary Fimfactors BV and Punjab National Bank have completed a share acquisition agreement, as a result of which the former acquired 60 million equity shares in India Factoring and Finance Solutions Private Ltd. This is...