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  • Zurich Insurance proposes £5.6bn takeover of rival RSA

    Zurich Insurance proposes £5.6bn takeover of rival RSA

    Zurich Insurance made a friendly £5.6 billion takeover proposal for British rival RSA yesterday, paving the way for one of Europe’s biggest insurance deals. Zurich said a month ago it was weighing a bid but left it to the last day under British...

  • Tesco, Asda sales fall as march of the discounters continues

    Tesco, Asda sales fall as march of the discounters continues

    Britain’s ‘big four’ supermarkets have all lost market share in a barely growing grocery market, as the likes of Tesco and Asda are left standing by the growth of discounters Aldi and Lidl, Kantar Worldpanel said yesterday. Like-for-like sales at...

  • Global stocks, oil, dollar rise after China cuts rates

    Markets rebounded yesterday with world stocks, oil prices and bond yields all rising after China cut interest rates and banks’ reserve requirements in a bid to kick-start its wavering economy. Wall Street opened over two per cent higher, recouping...

  • BOV shares maintain downward trend

    BOV shares maintain downward trend

    The equity of Bank of Valletta plc slipped lower for the fourth consecutive session on the stock exchange today with a further marginal decline to €2.25 across 19 deals totalling 47,732 shares. The share price of HSBC Bank Malta plc retreated by...

  • China - my take on current developments

    China is clearly causing markets to tumble and tremble, and here I am not only referring to Chinese equity markets but risky assets in general; namely global equities, lower rated bonds and those asset classes which are exposed to the global...

  • Beneficial ownership disclosure: when private becomes public

    Beneficial ownership disclosure: when private becomes public

    The most controversial part of the Fourth Anti-Money Laundering Directive (4th AMLD) is probably going to be the Register of Beneficial Ownership. The controversy arises since certain information which is considered private and which legitimately...

  • Money market report for the week ended August 21

    On Monday, August 17, the European Central Bank announced its weekly main refinancing operation (MRO). The auction was conducted on Tuesday, August 18, and attracted bids from euro area eligible counterparties of €69.56 billion, €0.11 billion...

  • Oil hits fresh 6½-year low on China

    Oil hits fresh 6½-year low on China

    Oil prices fell more than four per cent to fresh six-and-half-year lows yesterday after Chinese stock markets suffered their biggest one-day drop since the global financial crisis, intensifying worries over the outlook for global oil...

  • Shell eyes Iran to pay debt when sanctions end

    Shell eyes Iran to pay debt when sanctions end

    Royal Dutch Shell will repay a $2 billion debt to the National Iranian Oil Company (NIOC) when sanctions on Iran are lifted, and will consider investing in the country’s vast energy sector, Shell’s boss for new business has said. Much would depend...

  • US stocks stabilise as China stock dip hits world markets

    World stock markets plunged yesterday after a near-nine per cent dive in China shares, but commodities and the dollar pared losses and US stocks staged a striking comeback in a volatile session after European markets closed. After dropping more...

  • EU attempts to clear ‘fog of confusion’ over US trade pact

    EU attempts to clear ‘fog of confusion’ over US trade pact

    The European Commission will publish detailed reports on its negotiations with the United States to forge the world’s biggest trade pact, EU trade chief Cecilia Malmstrom said, responding to criticism that the talks have been shrouded in...

  • High trading activity across bank shares

    High trading activity across bank shares

    The MSE Share Index edged 0.1% higher to 4,201.197 points as the positive movements of various equities offset the declines in the share prices of Bank of Valletta plc, GO plc and Tigné Mall plc. The equity of Bank of Valletta plc retreated by...

  • Drawdown or Rebound – What’s next for equity markets?

    Many investors are concerned about the recent drawdown in equity markets. I must admit watching the DAX lose 12% from its highest point in June is not a pretty sight but nor is it a reason to panic and head for the exit.  Here are my reasons...

  • Waging war in the currency markets

    Waging war in the currency markets

    Most of us only bother about exchange rates when we travel to countries whose currency is not the euro or when we buy things online that are priced in US dollar or in sterling. In most cases such mundane issues are all that matter. Tourists from...

  • Get used to cheap oil, derivatives markets say

    Get used to cheap oil, derivatives markets say

    Oil prices will stay low for years to come, derivatives markets say, keeping a lid on inflation and helping boost global growth. Oil has more than halved in value over the last year, thanks to huge oversupply, and many oil companies, particularly...

  • Eurozone business growth accelerates in August – PMI

    Eurozone business growth unexpectedly accelerated this month as steeper price cutting drove an increase in new orders and led to firms building up a bigger backlog of work, a survey showed. The relatively upbeat survey, one of the earliest monthly...

  • ­­­Shipping movements

    The following ships are expected in Malta: The El Toro from Bejaia (CMA CGM Malta Agency Ltd), the MV Eurocargo Cagliari from Salerno to Salerno, the MV Eurocargo Venezia from Genoa to Genoa (both Sullivan Maritime), the Maersk Funchal from...

  • ST reports $26m losses

    ST reports $26m losses

    ST Microelectronics, one of Malta’s leading exporters, re­ported a loss of $26 million (€23m) in 2014, a dramatic result for a company that reported a profit of $145 million (€127m) in 2011. In 2012, the company’s profits fell to $129 million...

  • Constituted bodies to choose maternity leave delegates

    Constituted bodies to choose maternity leave delegates

    The three trustees representing the employer bodies will be agreed upon between the constituted bodies, the Finance Ministry has confirmed. “It is up to the employer bodies to decide on how to nomi­nate their representatives. The same applies to...

  • Austrian to launch marketing website

    An Austrian entrepreneur is setting up a website that amalgamates various tools to help retailers, from acting as a directory, to special offers and discount schemes. MyCard.com.mt took six months to create and is currently signing up its first...