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Business

  • Impact of accounting changes

    Various regulatory provisions, existing and proposed, both within an EU and a global context, will affect the local accountancy profession. These legislative provisions will affect the future of public sector accounting, trigger off the process of...

  • Falling Spanish prices add to eurozone deflation pressure

    Spanish consumer prices dropped for the fifth month running in November, adding pressure on stubbornly low inflation in the eurozone as a whole. Expectations are growing that the European Central Bank will shortly step up attempts to tackle the...

  • ECB’s Draghi calls for comprehensive strategy to put euro economy on track

    The eurozone’s economy needs a comprehensive strategy including reforms to get it back on track, the president of the European Central Bank said yesterday, adding that the task could not be left to monetary policy alone. “Now is certainly not the...

  • Drop in UK lending to small businesses slows under scheme

    Lending to small businesses by banks in Britain taking part in the Bank of England’s Funding for Lending Scheme fell at a slower pace in the third quarter of 2014 than earlier in the year, the BoE said yesterday. Small business lending by lenders...

  • Oil falls $2 to four-year low as Opec production cut considered unlikely

    Oil falls $2 to four-year low as Opec production cut considered unlikely

    Brent crude oil fell $2 to a four-year low under $76 a barrel as traders speculated that Opec was unlikely to cut output to support prices at its meeting yesterday. Gulf producers Saudi Arabia, Kuwait, Qatar and the United Arab Emirates said they...

  • Opec sinks energy firms as European shares rally

    Share price falls for energy firms capped gains for top European stocks yesterday, after Opec resisted pressure to cut supply in the face of a global slump in the oil price. However, shares were able to edge higher, led up by the German DAX, which...

  • Company briefs

    Company briefs

    The HSBC UK Contact Centre (HBEU) is participating in the three-day EURES Malta – ETC Job Fair which got underway yesterday at the Mediterranean Conference Centre. Prospective employees will have the opportunity to network with HR personnel and...

  • Malta 'most favoured' domicile for hedge funds in Europe

    Malta has, for the second time, been declared  Europe's most favoured domicile for hedge funds. The announcement was made at the 13th European Fund of Hedge Funds Awards 2014. The Hedge Fund Awards are determined on the basis of a rigorous...

  • Interim statements: useful information for investors?

    Interim statements: useful information for investors?

    November 19 was the deadline for the publication of the Interim Directors’ Statements as this is precisely six weeks before the end of December. Since most companies whose equity is listed on the Malta Stock Exchange close their financial year in...

  • Juncker unveils investment plan to kick-start EU growth

    Juncker unveils investment plan to kick-start EU growth

    European Commission president Jean-Claude Juncker yesterday presented a plan to leverage some €300 billion of largely private new investment in the EU, saying it was time to kick-start growth without adding to public debt. Underlining the need to...

  • Samsung Electronics to buy back $2bn in shares

    Samsung Electronics to buy back $2bn in shares

    South Korea’s Samsung Electronics Co. Ltd on Wednesday announced a $2 billion share buyback plan, its first since 2007, following investor calls for higher returns against a backdrop of rapidly ­declining profits. The world’s largest smartphone...

  • UK business investment ­suffers ­surprise drop in third quarter

    British business investment suffered an unexpected fall in the third quarter of 2014, raising questions about the resilience of the economy’s recovery, official data showed yesterday. As initially estimated, gross domestic product between July and...

  • Saudi oil market to ‘stabilise itself’

    Saudi oil market to ‘stabilise itself’

    Opec leader Saudi Arabia signalled yesterday it was unlikely to push for a major change in oil output at the producer group’s meeting this week, a day after Russia refused to cooperate in any production cut. Saudi Oil Minister Ali al-Naimi said he...

  • Dollar falls on weak US data

    The dollar fell yesterday after disappointing US home sales data, but global equity markets edged higher on hopes for more stimulus from the European Central Bank and the prospect that stocks may be a better investment than other alternatives. The...

  • Shipping movements

    The following ships are expected in Malta: The Stjerneborg from Tripoli to Sfax, the Pago from Valencia to Livorno, the Nicola from Algiers to Skikda, the Elbella from Mersin to Antalya (all Carmelo Caruana Co. Ltd) and the Maersk Sheerness from...

  • Large caps trade in negative territory

    Large caps trade in negative territory

    The share index declined by 0.6 per cent to 3,275.529 points as the four largest companies all closed in negative territory. Bank of Valletta closed 0.5 per cent lower at the €2.23 level on total volumes of 24,450 shares across six trades. This...

  • Facilitating compensation for anti-competitive practices

    It will soon be easier for all European citizens and companies to claim compensation for damages suffered as a result of a breach of EU competition rules. The recent adoption by the European Council of Ministers of the proposed directive on...

  • Prosecutors to interview London traders

    Prosecutors to interview London traders

    US prosecutors will travel to London in the coming weeks to interview traders about currency market manipulation, the latest sign that authorities are closer to filing criminal charges stemming from the long-running probe, sources said. Officials...

  • European shares hit a nine-week high, led by banks

    European stocks rose yesterday, with a benchmark index hitting a nine-week high as eurozone banking shares gained on mounting expectation of more stimulus from the European Central Bank. Shares in Deutsche Bank, ING and BNP Paribas were up 2.0-2.2...

  • OECD sees gradual world recovery

    The global economy will gradually improve over the next two years but Japan will grow less than previously expected while the eurozone struggles with stagnation and an increased deflation risk, the OECD said yesterday. There will be marked...