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Business

  • Weekly currency report

    The US dollar index, the dollar value against a basket of currencies, moved to a one-year high this week. The dollar moved higher as the economic outlook for the US continued to contrast with data and the outlook for the eurozone. The minutes of...

  • Immobility in eurozone

    At the beginning of this month, the European Central Bank published its report on the economic performance of the eurozone member states for the first six months of this year. The report was not terribly exciting to read and it did not provide any...

  • Business growth slows in China, Europe

    Business growth slows in China, Europe

    Business growth in China and across Europe slowed this month, surveys showed yesterday, providing more evidence that the world economy is stuttering and may need more monetary stimulus to keep it going. Eurozone private business activity expanded...

  • G20 edging towards deal on ‘bail-in’ bond cushion for banks

    G20 edging towards deal on ‘bail-in’ bond cushion for banks

    Government leaders are expected to agree in November that the world’s top banks must issue special bonds to increase the amount of capital which can be tapped in a crisis instead of calling on taxpayers to come to the rescue, industry and G20...

  • Russia extends scrutiny of McDonald’s eateries

    Russia extends scrutiny of McDonald’s eateries

    Russia ramped up its scrutiny of McDonald’s restaurants yesterday, as the state food safety watchdog began unscheduled checks in several Russian regions, a day after four branches in Moscow were shuttered by the same agency. The food safety agency...

  • European shares and the euro are lifted by robust German data

    Global equity markets edged higher on Thursday, with the S&P 500 hitting an all-time high, as US and German data drove confidence on economic growth and helped extend a stock rally. Data on German private-sector growth reassured investors about...

  • Company briefs

    Company briefs

    The International Factors Group (IFG) has chosen Malta for its 52nd Annual Meeting, which will be held between the September 28 and October 1. The IFG, which has over 160 members in 60 countries, is the international trade association that...

  • MSE Share Index edges higher on gains of large-caps

    MSE Share Index edges higher on gains of large-caps

    Trading on the stock exchange this morning was less intense, with just under €63,000 worth of trades taking place on the Borza. The MSE Share Index edged marginally higher to 3,299.511 points, as the decline in the share price of Lombard did not...

  • Argentina aims to skirt US court, bring debt under national law

    Argentina aims to skirt US court, bring debt under national law

    President Cristina Fernandez on Tuesday unveiled legislation that seeks to push bondholders to swap defaulted debt for new notes governed by Argentine law, a move aimed at skirting a US ruling that prevented her government from paying its...

  • Balfour Beatty rejects third Carillion offer

    Balfour Beatty rejects third Carillion offer

    British engineering company Balfour Beatty yesterday rejected Carillion’s third merger proposal, saying it failed to address the risks in the deal and only represented a small increase in value. Carillion had gone public with its latest approach...

  • Citigroup will exit its retail banking in Japan

    Citigroup Inc is preparing to sell its Japanese retail banking operations, a source with direct knowledge of the matter said yesterday, as it waves the white flag on a venture plagued by regulatory troubles and anaemic lending. The company which...

  • China fines Japanese auto parts makers $201m for price-fixing

    China fines Japanese auto parts makers $201m for price-fixing

    China has fined Japanese auto parts makers a record 1.235 billion yuan ($201 million) for manipulating prices as the government steps up its enforcement of an anti-trust law that has targeted major corporations and revived protectionism...

  • Equities ease on back of BoE minutes

    Global equity markets eased yesterday on a spate of poor corporate results and the release of Bank of England minutes that showed two of the bank’s policymakers unexpectedly voted earlier this month for an interest rate hike. Sterling and UK bond...

  • Germany sticks to 2014 growthforecast despite disappointing Q2

    Germany sticks to 2014 growthforecast despite disappointing Q2

    The German government is sticking to its forecast that Europe’s largest economy will grow by 1.8 per cent this year even after it suffered a contraction in the second quarter, one of Germany’s state secretaries for economics told Reuters...

  • Shipping movements

    The following ships are expected in Malta: The Antwerp from Bejaia to Bejaia Said and the Maersk Emden from Suez Canal to Valencia (Thomas Smith Shipping Ltd), the CMA CGM Agadir to Algiers, the Ecem Kalkavan from Civitavecchia to Catania and the...

  • High trading activity across the equity market

    High trading activity across the equity market

    This morning’s session of the Malta Stock Exchange was particularly busy considering the mid-summer season with €650,000 worth of trades taking place across the equity market. However, the MSE Share Index declined by 0.6% to 3,286.717 points as...

  • AP Moller-Maersk to buy back shares for first time in history

    AP Moller-Maersk to buy back shares for first time in history

    Denmark’s AP Moller-Maersk announced the first share buy-back in its 110-year history yesterday as an overhaul of the sprawling shipping and oil empire leaves it with more cash than it can usefully invest. Maersk shares jumped 5 per cent after the...

  • France set to boost housing, cut taxes for low-paid employees

    France set to boost housing, cut taxes for low-paid employees

    The French government will announce measures soon to boost construction and give tax relief to low income households, a minister said yesterday as President François Hollande tries to pull the economy out of stagnation. Real estate has become a...

  • BHP announces spin-off plan

    BHP announces spin-off plan

    The world’s biggest mining company, BHP Billiton, announced plans to spin off businesses worth an estimated $16 billion, most of them acquired in a 2001 merger, to focus on its most profitable activities. But it held off on a share buyback,...

  • eBusiness Awards launched

    Nominations for the fourth edition of the MCA eBusiness Awards are now open. The MCA eBiz awards acknowledge the use of technology in the entrepreneurial efforts of individuals and organisations The Malta Communications Authority has established...