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Business

  • Daily currency report

    Anxiety over the outlook for global growth and deflation grew on the back of a variety of events. Chinese inflation figures came in at five-year lows, which triggered concerns. Then the price of oil continued its downward descent. That negatively...

  • MIA rebounds whilst GO continue to ease

    MIA rebounds whilst GO continue to ease

    The equity of Malta International Airport recovered yesterday’s 8c decline with an equivalent uplift during this morning’s trading session on the Stock Exchangeto regain the €2.30 level, albeit still on shallow volumes of 6,000 shares. On the...

  • Stimulating investment in the EU

    My contribution last week focused on Jean Claude Juncker’s speech to the European Parliament, during which he spoke of a €300 billion investment programme to revive the European economy. The thrust of my contribution was whether the EU needs to...

  • Tepid interest in its cheap loans edges ECB towards printing money

    Tepid interest in its cheap loans edges ECB towards printing money

    The European Central Bank’s second offering of almost zero-cost loans to banks drew only tepid interest yesterday, underlining fragile confidence in the eurozone economy and making ECB money-printing appear all but inevitable. Banks have taken...

  • Aston Martin seeks to raise funds for new models

    Aston Martin seeks to raise funds for new models

    Aston Martin is preparing to raise funds to expand its range of models into new areas including crossover SUVs, two sources with knowledge of the matter said, as the loss-making sportscar maker steps up its turnaround efforts under a new boss. The...

  • Zara owner says winter sales brisk after the warm autumn

    Zara owner says winter sales brisk after the warm autumn

    Zara-owner Inditex posted a 14 per cent rise in sales for November and early December as its fast-changing fashion collections helped it cope better with mild weather than many European rivals. The strong sales performance, coming after a...

  • Dollar, stocks rebound on strong US data

    The dollar and global equity markets rebounded yesterday after three days of declines, spurred by strong US retail sales and declining jobless claims that signalled the US economy could weather weak oil prices and a likely interest rate hike next...

  • Italy pursues alleged NY mobster for extortion

    US police, acting at the request of an Italian court, have arrested a New York City man authorities identify as a member of the Gambino mob family for extortion, Italian officials said yesterday. A court in the southern Italian city of Potenza...

  • MSE Share Index sinks to 22-month low

    MSE Share Index sinks to 22-month low

    During this morning’s trading session, the MSE Share Index slipped 0.9% to a new 22-month low of 3,231.982 points as most of the active equities closed in negative territory. HSBC Bank Malta plc shed 2.6% to drop back to its 2014 low of €1.90...

  • BP to spend $1 bln to restructure, cut jobs

    BP to spend $1 bln to restructure, cut jobs

    BP will cut hundreds of jobs across its global oil and gas business by the end of next year in a $1 billion restructuring programme that was announced on Wednesday following steep falls in oil prices. The bulk of the costs will go towards staff...

  • France bids to show reform drive with deregulation Bill

    France’s government proposed a pro-growth reform Bill yesterday that is crucial for avoiding EU sanctions but risks being watered down by left-wing lawmakers angry with President François Hollande’s deregulation drive. The Bill – which polls show...

  • Shares fall on oil's five-year low as dollar slides

    Oil prices slumped to five-year lows yesterday and US and European equity markets fell as investors worried about the Greek and Chinese economies withdrew from riskier positions and bought Japanese yen, which rose against the US dollar. Brent...

  • Leaks reveal Disney, Koch Industries tax deals

    Walt Disney Co., commodities group Koch Industries and others agreed deals in Luxembourg that could have delivered huge tax savings, a group of investigative journalists has reported, heightening an international debate on corporate tax avoidance.

  • Educational clinic for investment firms on CRD IV Package

    FinanceMalta (FM), in collabor-ation with the Malta Financial Services Authority (MFSA), is organising an educational clinic for professionals working in investments on the implementation of the Fourth Capital Requirements Directive and the...

  • Maltapost reports profit up by 37.5%

    Maltapost’s profit before tax increased by 37.5 per cent to €2.74 million, the company announced yesterday, at it published its latest financial statements for the year ending September 30. A statement said the company had performed soundly during...

  • US consumers warm to wearable technology

    US consumers warm to wearable technology

    Consumers are warming to the idea that wearing a computer on their wrists or clothing may not be the fashion faux pas that early clunky prototypes led many to fear, and 2015 is poised to be a breakout for the much-hyped trend, a new study has...

  • Shipping movements

    The following ships are expected in Malta: The Saint Nikolas from Valencia to Livorno (Carmelo Caruana Co Ltd) and the MV Eurocargo Malta from Genoa to Genoa (Sullivan Maritime) tomorrow. The HH East (ex-Coneast) from Misurata to Annaba, the...

  • Air passengers rights explained

    A recent ruling dealing with air traveller’s rights has been delivered by the Court of Justice of the European Union just in time before the fast approaching holiday season. The eventuality of mobile boarding stairs colliding with an aircraft...

  • France keeps EU ‘Robin Hood tax’ plan despite deadline miss

    France keeps EU ‘Robin Hood tax’ plan despite deadline miss

    France sought yesterday to keep alive a disputed financial transactions tax after 18 months of talks failed to produce a deal that would force banks blamed for causing the financial crisis to help pay for the clean-up. Having missed a self-imposed...

  • Less inequality would boost economic growth

    Moves by national governments to reduce inequality between their rich and poor citizens would help to lift economic growth, the Organisation for Economic Co-operation and Development said yesterday. The Paris-based think tank wrote in a report...