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  • Toyota and Mazda plan long-term partnership to confront tech challenges

    Toyota Motor Corp. and Mazda Motor Corp. announced plans for a long-term partnership that would go deeper than existing project-based ties as the industry faces escalating costs and technical challenges, including environmental and safety...

  • EU to impose duties on electrical steel imports

    The European Union will impose anti-dumping duties from today on imports of a grade of electrical steel from China, Japan, Russia, South Korea and the United States, its second set of measures this year to protect European steel producers. The...

  • AOL’s CEO Armstrong charted bumpy path to big Verizon sale

    AOL’s CEO Armstrong charted bumpy path to big Verizon sale

    AOL Inc. chief executive Tim Armstrong’s six-year path to transforming the venerable dial-up internet provider into a marketable mobile ad specialist was filled with bumps. Armstrong spent hundreds of millions on the money-losing hyper local news...

  • Dollar slips as stocks inch up after soft US data

    The dollar index hit its highest in more than three months while global stock indexes edged up yesterday as weaker-than-expected US retail sales bolstered confidence the Federal Reserve will hold off raising rates soon. The S&P 500 was up slightly...

  • Shipping movements

    The following ships are expected in Malta: The BFP Galaxy from Bejaia, the Avonmoor from Sousse to Sousse, the HH North (ex-Connorth) from El Khoms to Misurata, the OPS Hamburg from Annaba to Skikda, the CMA CGM Ivanhoe from Jeddah to Valencia...

  • Share index slumps to two-week low

    The share index shed a further 0.2 per cent during this morning’s session to drop back to a new two-week low of 3,773.428 points largely reflecting the deceases in the share prices of HSBC and International Hotel Investments. The equity of HSBC...

  • Tourism growth beats economic expansion

    Tourism growth beats economic expansion

    Travel and tourism worldwide grew at an average 3.4 per cent annually over the past four years, above the 2.3 per cent increase in the global economy, according to the World Economic Forum. Such performance, the WEF pointed out in its latest...

  • Saudi Arabia’s April crude output hits record high

    Saudi Arabia’s April crude output hits record high

    Top global oil exporter Saudi Arabia raised its crude production in April to a record high, feeding its flourishing Asian market share and its own power plants and refineries. The world’s top oil exporter pumped 10.308 million barrels of oil per...

  • Greece tapped reserves at IMF to make debt repayment, government officials reveal

    Greece tapped emergency reserves in its holding account at the International Monetary Fund to make a crucial €750 million debt payment to the Fund on Monday, two government officials said yesterday. With Athens close to running out of cash and a...

  • Britain will be constructive but firm with EU, says George Osborne

    British Finance Minister George Osborne said yesterday that the new British government would be constructive but firm in negotiations with other EU partners to reform the European Union before a British referendum on its membership of the...

  • US approves Shell’s plan to drill for oil in the Arctic

    US approves Shell’s plan to drill for oil in the Arctic

    Royal Dutch Shell’s return to oil drilling in the US Arctic for the first time since 2012 took a big step forward on Monday when the Obama administration approved the company’s exploration plan. The Department of Interior conditionally approved...

  • German bund yields climb, lifting euro as stocks decline

    German bond yields spiked yesterday, generating demand for European currencies, while volatility in global bond markets weighed on stock indexes around the world. US 10-year Treasury yields hit their highest in six months before reversing...

  • Easyjet warns on third quarter and share price falls

    Easyjet warns on third quarter and share price falls

    British airline Easyjet said it faced tougher business conditions in the third quarter, citing the cost of strike-related disruption and an expected dip in underlying revenue in a warning that sent its shares down eight per cent. Europe’s No. 2...

  • Deutsche Post profit drops over weak freight division

    Postal and logistics group Deutsche Post DHL said it would review the restructuring at its freight division, which has proved tougher and more costly than expected, after reporting a lower-than-expected first-quarter operating profit. “We saw a...

  • Large cap equities decline

    Yesterday’s uplift in the share index was short lived as the local equity benchmark slipped back into negative territory during this morning’s session with a 0.3 per cent drop back to 3,782.529 points as four of the five largest equities by market...

  • Complexities of acquisitions

    In today’s rapidly evolving world, strategic business acquisitions capitalising on growth opportunities and market penetration, are proving to be more evident across a variety of industries. Very often, such transactions are moulded with little...

  • China overtakes the US to become top crude buyer

    China overtakes the US to become top crude buyer

    China overtook the United States as the world’s top importer of crude oil for the first time in April, and its purchases are expected to remain strong despite a slowing economy, with far-reaching consequences for global oil and commodities...

  • Money market report for the week ended May 8

    On Monday, May 4, the European Central Bank (ECB) announced its weekly main refinancing operation (MRO). The auction was conducted the following day and attracted bids from euro area eligible counterparties of €95.23 billion, €13.25 billion lower...

  • Indonesia considers cutting tax rate to attract investment

    Indonesia considers cutting tax rate to attract investment

    Indonesia is considering cutting its corporate tax rate to as low as 17.5 per cent from 25 per cent to attract more investment from companies operating in the region, a tax ministry official said yesterday. Indonesia, which posted the weakest...

  • Shares ease on Greek exit fears as dollar gains

    Global equity markets eased yesterday after a cut in Chinese interest rates initially kept shares near record highs, but a lack in progress in resolving Greece’s financial woes weighed on stocks and weakened the euro against the dollar. Gains by...