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News

  • Index turns negative by 0.44%

    The Malta Stock Exchange index failed to sustain the upward rally witnessed earlier in the week having ended the week down by 0.44 per cent, to close at 4,209.482 points. Total turnover for the week stood at €1.3m, spread over 18 equities of which...

  • World stocks set for weekly drop, bruised by yuan’s weakness

    Equities on world bourses were on track to end the week mostly lower at midsession yesterday, after China’s surprise currency devaluation on Tuesday. US stock indexes were little changed for the session, bond yields were slightly higher and the US...

  • Currency-rigging lawsuit settlements ‘rise past $2 billion’

    Investors have recovered more than $2 billion in settlements with nine banks over claims of price-rigging in the foreign exchange market, and are continuing to pursue claims against seven other banks, a lawyer for the plaintiffs said. HSBC...

  • Full speed ahead

    Full speed ahead

    A flight attendant pose for a photo beside the models of a high speed train during the China High Speed Railway on Fast Track exhibition in Jakarta, Indonesia, yesterday.

  • Declines in HSBC, GO offset uplifts in BOV, MMS

    Bank of Valletta gained one per cent over yesterday’s closing price and ended at the €2.29,9 level, unchanged from that of last week. A total of 16,811 shares changed hands across 11 trades. The intra-day low for the bank’s equity was...

  • Tales from the silly season

    The silly season is back with its tales. This last week the weather has been very silly, especially for those who have taken some days off work to enjoy the sea. As I have done in past years, this week’s contribution, which coincides with the...

  • China central bank says no reason for yuan to fall further

    China central bank says no reason for yuan to fall further

    China’s central bank said yesterday there was no reason for the yuan to fall further given the country’s strong economic fundamentals, in a bid to reassure jittery global markets after it devalued the currency earlier in the week. As the yuan slid...

  • Britain changes rules to fast-track shale gas permits

    Britain changes rules to fast-track shale gas permits

    The British government will give its communities minister the power to directly approve shale gas permits, removing decision-making from local politicians who have in the past months blocked the progress of Britain’s first such wells. In late...

  • Germany ‘open to debt relief for Greece, but no haircut’

    Germany ‘open to debt relief for Greece, but no haircut’

    Germany’s deputy finance minister Jens Spahn told German radio yesterday that Germany was ready to talk about debt relief for Greece, such as extending the maturity of loans or easing the terms, but a haircut was out of the question. “A so-called...

  • Shares, bond yields gain as concerns of currency wars ease

    Shares revived and bond yields rose in major markets yesterday after China’s central bank reassured investors there was no reason for its currency to keep falling. Despite the calming markets, the yuan weakened for a third day and some forecast...

  • Company briefs

    Company briefs

    Motherwell Bridge Industries, the mechanical and electrical engineering services company, has been appointed exclusive service provider agent for Malta and Italy for TSI Turbo Service International Ltd. TSI’s group consists of state-of-the-art...

  • Share index drops on subdued volumes

    The share index declined a further 0.2 per cent to 4,222.256 points, as four of the active equities closed the day lower amid weaker trading activity. HSBC started trading without the entitlement to the net interim dividend of 3c32 per share. The...

  • Maternity leave contribution through FS5

    Maternity leave contribution through FS5

    Employers will probably be paying their contribution to the maternity leave fund via the Inland Revenue Department, which will then pass it on to the trust which will administer it, the Malta Employers’ Association believes. The amount paid will...

  • Muscat Motors to take back Jaguar

    Muscat Motors to take back Jaguar

    Muscat Motors will next year be taking back the Jaguar dealership that it lost in 1994. The Jaguar brand has since then been represented by Gasan Zammit Motors, one of the nine brands it represents along with Ford, Chevrolet, Mazda, Honda, Volvo,...

  • Central Bank urges bank to release more government stocks

    Central Bank urges bank to release more government stocks

    The Central Bank of Malta has been able to buy up €233 million worth of Malta Government Stocks in the past four months but its governor has urged local banks to further reduce their holdings. Banks currently hold a third of all Malta government...

  • Property commission should be regulated

    Property commission should be regulated

    Vince Baldacchino, the managing director of Owners Best and Developers Best, has two controversial proposals: either legislate for all involved in the property market to charge a five per cent commission – more than the 3.5 per cent he currently...

  • White Paper will only apply to real estate agents

    The White Paper will – according to the latest version seen by the Federation of Real Estate Agents – only apply to real estate agents and property management companies, which account for roughly half the market. Intermediaries or introducers...

  • GTA wants seasonal ferry fares

    GTA wants seasonal ferry fares

    The Gozo Tourism Association is proposing that Gozo Channel should introduce low, mid and high season fares, in an attempt to boost visitors throughout the year. “We would like to see radical changes in the ferry fares and structure. Furthermore,...

  • How new regulation impacts German-Maltese succession

    How new regulation impacts German-Maltese succession

    Succession planning for families with a European outreach is complicated. This is the case once the deceased has assets in various countries, more than one nationality, domicile or residence. Whereas the rules on the free movement of persons and...

  • Global perspective for local bank

    Global perspective for local bank

    Last week HSBC Bank Malta reported pre-tax profits of €36 million for the first half of the year, down €4 million on the same period last year. CEO Mark Watkinson explained the context of these results to Vanessa Macdonald Admittedly, €36 million...

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