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Oil extends losses on weak economic outlook

Oil prices fell again today as concerns about the global economy exacerbated worries that an oversupply of crude could last longer than expected. Weak manufacturing reports from China, the United States and Europe undermined global equities, while...

  • Malta residents hit with tax on UK properties

    Malta residents hit with tax on UK properties

    In the past, people who have lived outside of the UK for five years have been exempt from capital gains tax when selling UK properties. From April 6, 2015, these rules changed so non-residents owning UK residential property are now subject to UK...

  • Money market report for the week ended August 14

    On Monday, August 10, the European Central Bank announced its weekly main refinancing operation (MRO). The auction was conducted the following day and attracted bids from euro area eligible counterparties of €69.67 billion, €1.33 billion lower...

  • India’s IndiGo finalises £16.9 bn purchase of 250 new Airbus jets

    India’s IndiGo finalises £16.9 bn purchase of 250 new Airbus jets

    IndiGo, India’s biggest airline by market share, has finalised the purchase of 250 Airbus A320neo aircraft, handing the European company its largest-ever order by number of planes in a deal worth $26.55 billion at list prices. The agreement...

  • Japan economy shrinks in Q2 in setback for ‘Abenomics’

    Japan economy shrinks in Q2 in setback for ‘Abenomics’

    Japan’s economy shrank at an annualised pace of 1.6 per cent in April-June as exports slumped and consumers cut back spending, adding pressure on Prime Minister Shinzo Abe to step up his policy drive to lift the economy out of decades of...

  • Markets gain modestly as Wall Street shakes off weak manufacturing data

    World equity indexes gained modestly yesterday after a rout last week, with rosy US housing data helping Wall Street shrug off a weak manufacturing report, while the prospect of higher US interest rates lifted the dollar for a third day. US...

  • China stocks claw back losses but fear further yuan depreciation

    China stocks claw back losses but fear further yuan depreciation

    Chinese stocks recouped early losses yesterday but gains were capped by fears that Beijing would let the yuan depreciate further, despite statements from the central bank last week that it sees no reason for more declines. After ending morning...

  • Oil near six-year low on Japan data, oversupply

    Oil prices fell towards six-year lows yesterday after data showed Japan’s economy contracted and producers in the US added drilling rigs for a fourth straight week despite a recent rout in prices. Japan’s economy, the world’s third biggest oil...

  • RS2 share price jumps on surge in profits

    Last Friday afternoon, RS2 Software plc published its interim results covering the six months ended 30 June 2015 revealing a significant improvement in pre-tax profits to €6.56 million compared to €2.96 million in the corresponding six months of...

  • Cecil the Lion and the media

    Cecil the Lion and the media

    Summer is not an easy time for journalists. Almost everywhere, except in Malta, political stories become scarce. Pompous politicians jet off to their holidays and relieve us of the bombastic rhetoric that makes them think they are the real masters...

  • Solar market having a great year except on Wall Street

    Solar market having a great year except on Wall Street

    By almost any measure, the US solar market is on fire. Installations of solar panels are expected to soar by a third this year, the price of solar power is now cheap enough to compete neck and neck with gas and coal-fired power in places like...

  • ­­­Shipping movements

    The following ships are expected in Malta: The Jamila from Algiers to Bejaia, the Stjerneborg from Tripoli to Tripoli, the AHS St George from Algiers to Skikda, the CMA CGM Musca from Le Havre to Khor al Fakkan (CMA CGM Malta Agency Limited), the...

  • EIP to rescue Global Capital from the brink

    EIP to rescue Global Capital from the brink

    The intended purchase of shareholding by EIP may have saved Global Capital from the brink – with its auditors warning in its 2014 results that, without funding, there was “a material uncertainty that may cast signifi­cant doubt about the company’s...

  • EY consolidates its health consultancy

    EY consolidates its health consultancy

    EY is revamping its healthcare consultancy. The approach consolidates its established healthcare teams that currently sit across other related sectors and geographies, including Malta, and brings together insights from multiple sectors –...

  • Mediterrania Capital reaches €120m

    Private equity firm Mediterrania Capital Partners has closed Mediterrania Capital II, its second growth fund for North Africa, at the planned target of €120 million. The first fund, Fons Mediterrania Capital FCR, is currently in the divestment...

  • RS2 doubles profits

    RS2 doubles profits

    Software company RS2 has more than doubled its pre-tax profit to €6.6 million during the first half of the year, an increase of 121 per cent when compared to the same period in 2014. However, since further substantial investment in infrastructure...

  • Midi buys out joint venture

    Midi has agreed to buy out Siemens’ shareholding in Solutions and Infrastructure Services Ltd. Midi already owned half the company, while Siemens held all but one share to be held by a subsidiary of the company. SIS was born as a joint venture...

  • Corporate social responsibilty

    Malta Stock Exchange’s social events committee hosted 20 young children, nuns and carers from Tarxien Children’s Home to a day by a swimming pool at a privately-owned farmhouse. The event regularly organises events for staff and their families,...

  • Company briefs

    Company briefs

    Emirates recently phased out A6-EMF, the last remaining Boeing 777-200 from its fleet. Emirates is taking delivery of 24 new aircraft and is retiring its older aircraft. Seven aircraft were phased out in 2014 and another 10 are planned for...

  • Seven equities drag MSE index lower

    Seven equities drag MSE index lower

    The Malta Stock Exchange (MSE) index failed to sustain a seven-year high as it slipped by 0.44 per cent to close at 4,209.482 points. The index was dragged lower by the shares of HSBC Bank Malta plc, Malta International Airport plc (MIA), RS2...

  • US retail sales rebound in July

    US retail sales rebounded in July as American households increased purchases of cars and a range of other goods, the Commerce Department reported last week. This suggests that solid momentum in the economy as it entered the third quarter. Retail...