News
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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
Speculation about the US Federal Reserve starting to reduce its monetary stimulus programme in the coming months continues to be a hot topic, a discussion that is likely to intensify following the latest numbers on the US labour market. The US...
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Banking equities marginally higher
The equities of the three large commercial banks moved higher during this morning’s session. Bank of Valletta plc edged minimally higher to close at the €2.25 level across ten trades totalling 26,741 shares and HSBC Bank Malta plc’s share price rose...
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Despite gains, Spain struggles
Spanish officials tell a dramatic turnaround story: from near-bankruptcy a year ago to a model of budget austerity and reform in the present day. There are just two things missing: jobs and growth. And only one potential salvation:...
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Swiss banks break ranks as US tax probe bites
The unified front with which Switzerland’s banks have defended their culture of secrecy is breaking down as some prepare to hand over data in a US tax evasion probe, leaving others at greater risk of prosecution. The Swiss Government is trying to...
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Shipping movements
These ships are expected in Malta: The Marina from Algiers to Skikda, the Macao Strait from Misurata, the Saint Roch from Benghazi to Benghazi, the Connorth from Annaba to Tripoli, the Santa Bettina from Marseille to Piraeus, the Praia to Livorno,...
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‘We have a good future in Malta’ – HSBC Europe CEO
HSBC continuously runs a rigorous six-filter process on its various portfolios and as long as HSBC Malta continues to pass these tests the banking giant will remain committed to the Maltese market, Brian Robertson, HSBC UK and Europe CEO tells The...
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Free, limitless calls for Pay-As-You-Go customers
Only one month after launching a range of limitless plans for Pay-Monthly customers, Go is now extending the benefit of limitless calls to Pay-As-You-Go customers. The two new limitless Pay-As-You-Go plans are specifically designed to fit all the...
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Exante flies Malta flag in Portugal
Lisbon became Malta on May 25 as The Ritz Hotel became the hottest place to be for celebrities, politicians and financial companies as Malta-based Exante celebrated its first award ceremony in style to a packed audience. Exante was founded in March...
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Middlesex set to launch third international campus in Malta
Middlesex University has announced that it will open a campus in Malta, with students welcomed from September this year. The campus, located in Pembroke, will initially offer business, computing and finance courses at undergraduate and postgraduate...
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Alberta appoints renewable energy head
Alberta Group has appointed Peter Vella as the head of business development, renewable energy. Mr Vella’s career spans across a number of years of continuous growth and responsibility in the manufacturing industry and recent senior positions in...
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Alf Mizzi installs one of biggest grid-connected photovoltaic systems
Alf Mizzi and Sons (Marketing) Ltd has just installed a grid-connected 99.60kwp photovoltaic system. This installation is one of the biggest grid-connected PV plants in Malta and will generate approximately 170,000kWhr electricity per annum. This...
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ITV Choice HD now on Melita
Melita HD has added the ITV Choice in High Definition to its channel line-up. The channel joins other HD channels, such as Discovery Showcase HD, National Geographic HD, MTV LIVE HD, Sky News HD and many more. An ITV Choice spokesperson said:...
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MSV Life launches Fast Track Life Protection Plans
MSV Life plc has launched its Fast Track Life Protection Plans, providing immediate life protection for young, healthy lives. This new product is available as a Loan Protection Plan (decreasing sum insured) or as a Protection Plan (level sum...
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Top-level delegation from Nestlé in Malta
A top-level delegation from Nestlé, led by executive vice-president and zone director of Europe, Laurent Freixe, was in Malta last week. The delegation met Prime Minister Joseph Muscat, where views were exchanged on the economic situation in Europe...
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Local equities close another month higher
The Malta Stock Exchange (MSE) index ended the month of May with a 0.2 per cent gain and thus registered seven consecutive positive months. On a general note, May proved to be rather positive for the MSE, as local equities registered gains for three...
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Unemployment rate in Germany steady at 6.9%
The number of unemployed in Germany unexpectedly rose in March, underscoring the severity of the recession in the eurozone. Data issued by the Federal Labour Agency showed that the number of people out of work climbed a seasonally adjusted 21,000 to...
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Struggling S. Korean builders tell employees to show loyalty
Five years after the global financial crisis, South Korean construction workers are feeling the pinch more than ever as they shoulder a mountain of debt from a real estate bust that has cast a long shadow on the country’s growth prospects. Facing...
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