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Business

  • China central bank injects $81bn into major banks

    China’s central bank is injecting a combined 500 billion yuan (€62 billion) of liquidity into the country’s top banks, according to media reports, a sign that authorities are stepping up efforts to shore up a faltering economy. Global shares and...

  • Eurozone inflation slightly exceeds forecasts

    An increase in rents and car-repair prices lifted eurozone inflation in August slightly higher than a first estimate, a small piece of good news for the European Central Bank but not one that radically changes the economic outlook. Consumer...

  • Stocks show little change awaiting Fed policy

    Stock markets around the world were little changed yesterday as investors awaited the Federal Reserve's policy statement, with expectations high that the US central bank will maintain a pledge to keep rates low for a 'consider-able time.' Shares...

  • Shipping movements

    The following ships are expected in Malta: The CMA CGM Butterfly from Jeddah to Genoa, the Stadt Schwe­rin from Annaba to Skikda (both Carmelo Caruana Co Ltd), the Jaguar from Bejaia to Bejaia (Thom­as Smith Shipping Ltd) today. The Taurus J from...

  • Price-fixing arrangements

    Price-fixing arrangements of any sort, even when carried out with the blessing of the State itself, are illegal in terms of EU law, the Court of Justice of the European Union has recently affirmed. Member states cannot in any way encourage...

  • Global plans to crack down on corporate tax avoidance

    Global plans to crack down on corporate tax avoidance

    Plans for a major rewriting of international tax rules unveiled yesterday could eliminate structures that have allowed companies like Google Inc. and Amazon.com Inc. to shave billions of dollars off their tax bills. The Organisation for Economic...

  • Alibaba boosts IPO as demand strengthens

    Alibaba Group Holding Ltd raised the price range on its initial public offering to $66 to $68, reflecting strong demand from investors for the year’s most anticipated debut and potentially the world’s largest-ever IPO. The Chinese e-commerce...

  • GM’s Opel to reduce Russian production as slowdown bites

    GM’s Opel to reduce Russian production as slowdown bites

    US carmaker General Motors is cutting production and shedding around 500 jobs at its Opel division in Russia, hit by a plunge in local demand due to a slowing economy and Western sanctions. Opel said yesterday it would scale back production at its...

  • UK inflation slips back

    British inflation edged down last month but house price growth surged in July at the fastest annual pace since in seven years, official data showed yesterday. Consumer prices rose 1.5 per cent on the year in August, the lowest increase since May,...

  • Stocks flat ahead of Fed meeting as oil rises

    Stock markets around the world were little changed yesterday as investors refrained from placing big bets ahead of a Federal Reserve meeting that could adjust expectations about how soon the US Central Bank will hike interest rates. Speculation...

  • Slowing climate change makes economic sense

    Slowing climate change makes economic sense

    Investments to help fight climate change can also spur economic growth, rather than slow it as widely feared, but time is running short for a trillion-dollar shift to transform cities and energy use, an international report said yesterday. The...

  • RS2, Go continue to outperform

    RS2, Go continue to outperform

    The equities of RS2 Software plc and Go plc extended their positive run as they continue to significantly outperform the other local equities with year-to-date gains approaching the 40 per cent level. The share price of RS2 climbed by 3.5 per cent...

  • Heineken rebuffs SABMiller bid

    Heineken rebuffs SABMiller bid

    Dutch brewer Heineken said it was approached by larger rival SABMiller about a potential takeover but that its controlling shareholder intended to keep the company independent. The maker of Heineken and Amstel beers said it consulted with its...

  • Money market report for the week ended September 12

    On Monday, September 8, 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 €110.70 billion, €0.50 billion...

  • Sinopec to sell $17.5bn retail stake in privatisation push

    Sinopec to sell $17.5bn retail stake in privatisation push

    State-controlled oil giant Sinopec Corp. has unveiled a plan to sell a $17.5 billion stake in its retail business, marking China’s biggest privatisation push since President Xi Jinping came to power almost two years ago. The sale is a reflection...

  • Eurozone trade surplus rises in July

    The eurozone’s trade surplus rose year-on-year in July as exports grew faster than imports, pointing to a positive contribution to economic growth at the start of the third quarter, the EU’s statistics office data showed. Eurostat said the...

  • Bank of Portugal picks new CEO for BES successor Novo Banco

    Bank of Portugal picks new CEO for BES successor Novo Banco

    The Bank of Portugal picked a new chief executive for Novo Banco, successor to Banco Espirito Santo (BES), following the embarrassing resignation of its three top managers appointed only two months ago. Eduardo Stock da Cunha, 51, an experienced...

  • Brent oil hits two-year low

    Brent crude fell below $97 per barrel yesterday to its lowest in more than two years as lackluster Chinese economic data lowered prospects for demand at a time of abundant supply, while expectations that the Federal Reserve will provide new...

  • Tough time to sell Ukraine President’s candy empire

    Tough time to sell Ukraine President’s candy empire

    A chance to buy the candy empire of Ukrainian President Petro Poroshenko is the kind of opportunity in a fast-growing market that would normally have multinational confectioners – like Nestlé or Cadbury’s parent Mondelez – drooling at the...

  • GO’s shares hit new 6-year high

    GO’s shares hit new 6-year high

    The share price of GO plc continued to advance and closed at yet another fresh six-year high of €2.52 on the stock exchange today. The equity has been the best performer this year in anticipation of developments with respect to the Group’s €50...

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