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  • Accusations fly at Bulgaria’s Corpbank’s murky dealings

    Accusations fly at Bulgaria’s Corpbank’s murky dealings

    One worker at Bulgaria’s Corporate Commercial Bank knew panic was setting in when she spotted colleagues among the anxious depositors lined up to withdraw cash from the troubled bank. The alarm came in part because the week before, on June 13,...

  • Go shares rally by 7.8 per cent

    The Malta Stock Exchange index finally halted its recent losing streak as it closed 0.53 per cent higher at 3,327.349 points. Activity was spread across 16 equities as gainers and losers tallied at five while six closed unchanged. Go plc shares...

  • Slump in Erste Bank drags down rival shares and halts Europe stocks rally

    A slump in the shares of Austrian bank Erste hit the Vienna stock exchange yesterday and halted a rally on the broader European equity market which had reached multi-year highs this week. Erste dropped 16.4 per cent after the bank, the...

  • GM suspends South Africa production

    US auto giant GM said yesterday it had suspended production at its main South African assembly plant in the southeastern city of Port Elizabeth because a strike by the country’s biggest union had hit components suppliers. The engineering and metal...

  • Volkswagen denies planning a bid for US Paccar

    Volkswagen denies planning a bid for US Paccar

    Volkswagen denied planning a bid for US truck maker Paccar after analysts published comments in a research note from a senior executive of German rival Daimler saying he had heard of such a plan. According to Bernstein Research, Daimler Trucks...

  • British car sales post best first half of year since 2005

    British new car sales recorded their best first half to a year since 2005, figures showed yesterday, but sales growth slowed in June as consumer demand started to level off. The Society of Motor Manufacturers and Traders (SMMT) said new car...

  • Daily currency report

    It was a tricky week for foreign exchange markets as the Swiss franc continued to focus on geopolitical tensions, creating safe haven flows into the currency. Broader market sentiment was fairly upbeat given the PMI surveys that were released this...

  • Web users side-stepping ruling

    Web users side-stepping ruling

    Landmark legislation which offered people the chance to have personal information removed from search engines is being side-stepped by tech-savvy internet users. The ‘right to be forgotten’ is based on the premise that outdated information about...

  • Go shares advance to a new four-year high

    Go shares advance to a new four-year high

    The share price of Go plc advanced for the fourth consecutive session as further demand emerged for the equity. The demand follows this week’s announcement by Forthnet revealing that OTE SA (the incumbent telecoms operator in Greece) has submitted...

  • EU’s change of course

    Last week’s contribution focused on the European Council and the ‘possible’ economic agenda for the near future. The communiqué at the end of that meeting was not known at the time the article was written. It is now possible to comment on and...

  • China frees retail yuan exchange rate in move towards convertibility

    China frees retail yuan exchange rate in move towards convertibility

    China has permitted banks to freely set their own exchange rates for the yuan against the dollar in over-the-counter transactions – another step towards freeing the exchange rate from government control. Banks were previously required to price the...

  • ECB says measures will push inflation up

    ECB says measures will push inflation up

    A raft of policy measures introduced last month will help lift inflation and support bank lending but the European Central Bank stands ready to create money in future if required, president Mario Draghi said yesterday. The ECB left interest rates...

  • China bans public from British corporate investigator’s trial

    China bans public from British corporate investigator’s trial

    The trial in China of a British corporate investigator and his American wife and business partner arrested a year ago after they did work for GlaxoSmithKline PLC will be closed to the public, two family friends with knowledge of the matter told...

  • Shares at new highs

    The dollar rose and global equity markets advanced yesterday, with stocks setting record highs on a surge in US jobs growth that provided a clear sign the economy is growing faster than expected, perhaps as much as four per cent in the second...

  • Company briefs

    Company briefs

    Guests of the Hotel Phoenicia are in for a special treat during the Jazz on the Fringe on July 16 with an eye-catching visual display and art installation by artist and musician Charles ‘City’ Gatt. The installation entitled Freedom Fighters will...

  • MSE Share Index reaches two-week high

    MSE Share Index reaches two-week high

    The MSE Share Index trended higher for the third consecutive session with a further 0.6 per cent increase to 3,333.489 points largely due to the gains in some of the larger equities. Once again, the share price of Go plc performed positively with...

  • Tension growing between new and used car importers

    Tension growing between new and used car importers

    Tension is growing between new and used car importers with both claiming that there is not a level playing field. The car industry has changed dramatically since 2009, when sales of used cars overtook those of new ones. Since many owners will this...

  • Sex and drugs: unusual boost for GDP

    The National Statistics Office is going to include the estimated ­revenue from narcotics and prostitution in its GDP reports as from September – but with its eyes wide open with regard to the problems with­collecting data about illegal...

  • Only six high-rise applications potentially fall within new policy

    Only six high-rise applications potentially fall within new policy

    Only six of the current 13 applications for high-rise buildings potentially fall within the designated areas covered by the new approved policy announced recently by the Malta Environment and Planning Authority. This means that a number of...

  • Gaming legal notice by autumn

    Gaming legal notice by autumn

    A draft legal notice for the licensing of digital games of skill with prizes is being sent to stakeholders for feedback after it was approved by Cabinet – and could be enacted as law as soon as September. The head of the Lotteries and Gaming...