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News

  • Europe leads the way as global market listings leap

    Global initial public offerings (IPOs) almost doubled in value in the first quarter of 2014, Thomson Reuters data showed yesterday, with Europe leading the way thanks to a nascent economic recovery that lifted investors’ confidence and stock...

  • Money market report for the week ended March 28

    On Monday, March 24, 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 €121.31 billion, €24.40 billion...

  • Swiss watchdog opens probe into forex manipulation

    Switzerland’s competition commission Weko yesterday said it had opened an investigation into several Swiss, British and US banks over potential collusion to manipulate foreign exchange rates. Weko said it is investigating UBS, Credit Suisse,...

  • Stocks up on central bank support bets, but euro rebounds

    Stocks in major markets rose for a fifth straight session yesterday while gold, the yen and other safety assets fell after Federal Reserve Chair Janet Yellen reinforced the need for “extraordinary” commitment to support the US economy. The euro...

  • PM Shinzo Abe bets he can break Japan sales tax jinx

    Shinzo Abe has already ensured himself a place in Japan’s history books with his comeback as Prime Minister five years after a brief, troubled first term. Now he aims to break another jinx by implementing a sales tax increase, a move that has been...

  • As US momentum stocks take beating, some sectors benefit

    Investors in some of the past year’s hottest US stocks have been given a savage lesson in the risks of so-called ‘momentum trading’. A group of 24 such companies compiled by Credit Suisse has lost $63 billion in market value, or almost 19 per...

  • GM unit Opel to make Buick in Germany

    General Motors unit Opel will make two additional vehicles at its plant in Ruesselsheim, Germany, including a Buick destined for the United States, it said. The move forms part of a strategy to intertwine the Opel and Buick product ranges to share...

  • BP spill in Lake Michigan larger than initially thought

    More oil than previously thought may have leaked into Lake Michigan last week from BP plc’s Indiana refinery, the company said after two US senators requested a meeting with the British oil major. The request from Senators Mark Kirk, a Republican...

  • ­­­Shipping movements

    The following ships are expected in Malta. The Jaguar from Sfax to Misurata, the Rosa from Asuncion to Haifa (both Thomas Smith Shipping Ltd) and the Northern Dedocation from Valencia to Livorno (Bianchi Group) today. The Devon Strait from Gemlik,...

  • Minister reveals how close Enemalta was to a default

    Now that the Shanghai Electric deal is all but done and dusted – due to be ratified and signed in the coming months, Finance Minister Edward Scicluna has confirmed how close Enemalta was to defaulting on its loan to a German development...

  • Go acquires share capital in Cypriot company

    Go has agreed to buy a quarter of the share capital in Cablenet Communications Systems from Nicolas Shiacolas. Go will purchase the share capital in exchange for a convertible loan of €12 million to Cablenet. At Go’s option, this loan may be...

  • Dragonara to get 5,000 new foreign players each year

    Dragonara Gaming has signed a long-term collaboration agreement with Poker Travel Israel through which 5,000 poker and casino players from Israel and central Europe will be visiting the casino for various organised events every year. The agreement...

  • New uniforms for NSO airport staff

    Airport-based staff from the National Statistics Office have been given new uniforms. The staff carry out interviews as part of ongoing survey among departing passengers at the Malta International Airport. In the past, the statistics were compiled...

  • Money laundering prevention boosted

    The Malta Financial Services Authority recently signed a Memorandum of Understanding with the Financial Intelligence Analysis Unit (FIAU) that will facilitate on-site inspections relating to the prevention of money laundering and funding of...

  • Business travellers dampened by nostalgia

    Aside from missing their families and home, business travellers globally reveal they can’t do without their home cooking and native idiom, finds latest survey by Regus, the global flexible workplace provider. A quarter of business people say...

  • University, foundation, SFC sign deal

    The Farsons Foundation and Simonds Farsons Cisk plc are formalising and strengthening their relationship with the University of Malta by extending their partnership in areas of common interest. It follows their recent collaboration in the...

  • MSE down 7.1% in Q1

    The Malta Stock Exchange (MSE) index ended March 5.6 per cent in the red – its worst monthly performance in over three years – while on a quarterly basis the index closed down 7.1 per cent. This followed a series of hefty falls in financial...

  • Manufacturing industries in the eurozone expand for ninth month in a row

    The initial reading of the euro area composite Purchasing Managers’ Index (PMI) for March came in at 53.2. This is a slight retraction from February’s reading of 53.3, which was the highest for 32 months, but stays close to three-year highs. PMI...

  • Company briefs

    The Tap Knowledge B2B Partnership and Networking Event, organised by Property & Life Magazine, will this year combine a supplier exhibition with networking and keynote presentations from thought leaders. This year’s event takes place on April 11...

  • Student internships – are they valued by Maltese employers?

    Do companies benefit from offering student internships? I have often heard the comment that these students would be ‘in the way.’ What is in it for the employers? An internship gives the employer the opportunity to assess a student’s compatibility...

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