Business
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How you can get in touch with us
Office for Consumer AffairsMizzi House,National Road,Blata l-BajdaHMR 9010 Freephone: 8007 4400Tel: 2395 2000General enquiries: [email protected] complaints: [email protected]: www.mccaa.org.mt Office hours for the general...
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UK trade gap narrows more than expected
Britain’s goods trade deficit narrowed more than expected in April as imports dropped, adding to signs the country’s economic growth will gather pace in the second quarter but still reflecting a weak recovery. The Office for National Statistics...
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Samsung loses $12bn market value on smartphone worries
Samsung Electronics Co. lost $12 billion (€5.28 billion) in market value yesterday, hit by brokerage downgrades that have underscored concerns about slowing sales of its flagship Galaxy S4 smartphone. The share slide of more than six per cent comes...
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European shares bounce back after US jobs data
European shares ended sharply higher yesterday, reversing losses after US jobs data indicated the economy was growing, but probably not enough to prompt the Federal Reserve to wind down its stimulus measures. The rally was broad-based, with banking...
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Canada charges chocolate makers Mars and Nestlé with price fixing
Canada has charged two of the world’s biggest candy makers, Nestlé SA and Mars Inc, with colluding to fix the price of chocolate, the Canadian competition watchdog said. Canada’s Competition Bureau recommended lenient treatment for the Canadian arm...
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Positive week for banks
Local investors showed reliance in the local equity market as the Malta Stock Exchange index managed to record gains throughout the entire shortened week, due to yesterday’s public holiday. The MSE index managed to close the week 0.76 per cent...
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Bundesbank puts dampener on German trade optimism
German trade activity rose sharply in April, but a cut in the Bundesbank’s growth forecast dampened hopes that Europe’s largest economy might be gaining momentum. Exports rose 1.9 per cent and imports by 2.3 per cent, Federal Statistics Office data...
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Daily currency report
The British pound is closing in on one-month highs against the US dollar and on a trade-weighted basis after robust data on Britain’s services industry boosted optimism about the UK’s economic recovery. In contrast, the US dollar came under further...
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EU watchdog maps out anti-rigging rules for Libor
EU regulators yesterday published guidelines to stop banks rigging Libor and other market benchmarks in an interim measure before a more far-reaching EU law comes in. The draft law, to be published in a few weeks, would propose shifting the...
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ECB holds rates as it sees gradual recovery
The European Central Bank kept its main interest rate on hold at a record low 0.5 per cent yesterday, saying that improved economic data in May confirmed its forecast of a gradual recovery from prolonged recession later this year. ECB president...
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FTSE 100 hits six-week lows
The FTSE 100 slipped to six-week lows yesterday, breaking below a support level after the European Central Bank signalled it was in no hurry to offer more stimulus to the country’s top trading partner. Stocks fell after ECB president Mario Draghi...
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Is a global recession on the way?
Three days ago we had some very bad news which has been scantily reported in the media, even in the international media. Those newspapers that did report it described it as a “global shock”. For the first time since the start of the international...
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MSE Share Index rounds off positive week at 2-year high
The MSE Share Index rounded off a positive week with a fourth consecutive increase to end this shortened week at a two-year high. The local equity benchmark edged a further 0.2 per cent higher to 3,390.775 points representing a 0.8 per cent increase...
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Property scheme distinct from entitlement to social services
None of the residents who benefitted from the previous property scheme had applied for long-term residence and would therefore not have been eligible for social services – a fear raised by the PN in its reaction to the new Global Residence Scheme...
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Penalties eased for VAT defaulters
Finance Minister Edward Scicluna has announced five measures which will make it easier for those who are in default of VAT payments to regularise their position. In the past, individuals or companies that were in default found themselves caught in...
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Istanbul protests enter second week
The rioting in Istanbul has surprisingly not had any adverse affect on travel bookings, with no noticeable cancellations on either Turkish Airlines or Air Malta in spite of the fact that more than 200 demonstrations were held in 67 cities across the...
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Medserv bidding for East Africa operation
Medserv has moved one step closer to its first operation in East Africa after its joint bid with a European partner for a project in Tanzania was shortlisted. Chairman Anthony Diacono noted that, if successful, this would be the company’s first...
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Latvia to join eurozone in 2014
Latvia is ready to become the 18th country using the euro from the start of next year, the European Commission announced yesterday, a decision that will be formally approved by European Union finance ministers on July 9. “The Commission considers...
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Banks paid €168m in taxes in 2012
The 26 banks forming the Malta Bankers’ Association paid €168 million in taxes on the profit derived from ordinary activities, according to the newly-appointed chairman of the association’s board, Charles Borg. Addressing the recent annual general...
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Aviation experts brief stakeholders on jurisdiction incentives
Maltese officials involved in establishing Malta as an aviation jurisdiction received invaluable feedback from experts attending an international conference held at the Westin Dragonara. The annual European conference of L2B Aviation brought...
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