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  • Greek PM assures EU creditors reforms coming to unlock cash

    Greek PM assures EU creditors reforms coming to unlock cash

    Greece said yesterday it was moving swiftly to meet creditors’ demands for a detailed economic reform plan after Prime Minister Alexis Tsipras assured eurozone leaders his leftist-led coalition would speed up work to avert bankruptcy. After two...

  • Decline in US dollar lifts oil and equities

    The US dollar fell sharply yesterday and was on track for its biggest weekly decline against the euro in more than three years, helping to drive a rally in Wall Street stocks and crude oil. Riskier assets like equities were in general on track for...

  • Japan, Australia signal approval of China-based AIIB

    Japan signalled cautious approval of the China-led Asian Infrastructure Investment Bank (AIIB) yesterday and said for the first time that, if conditions were met, it could join the institution that the US has warned against. Australian Treasurer...

  • Gains across 12 equities lift index

    The Malta Stock Exchange index extended its recent positive streak having rallied by a further 3.33 per cent on the week, to close at 3,762.866 points. Turnover for the week reached €1.97 million spread across 18 issues of which 12 gained ground,...

  • Lufthansa long-haul flights to be hit by fourth strike today

    Lufthansa cancelled almost half of its lucrative long-haul flights scheduled for today as pilots planned a fourth straight day of walkouts in a protracted row over early retirement benefits and cost cuts. Lufthansa wants to cut spending to levels...

  • Volatile day for equity market

    After reaching a new four-year high on Wednesday, the equity market returned to action today with the share index closing 0.6 per cent lower at 3,762.866 points after a volatile session. Bank of Valletta failed to hold on to its seven-year high of...

  • Central bankers add to the investment funds’ advantage

    Central bankers add to the investment funds’ advantage

    I am no stranger to the local aversion towards investment funds as for many (potential) investors the word “fund” has negative connotations. Although admittedly I am not an objective writer I have to say that in the current environment such...

  • Is this a lull before a storm?

    I t is still uncertain as what will happen to Greece. Will it stay in the eurozone or not? Will it remain a member of the European Union or not? Will it manage to renegotiate some of the conditions tied to the bailout provided to it by EU member...

  • US stocks slip, dollar gains after Fed view

    US stocks were mostly lower yesteday, continuing a recent bout of volatility as the dollar resumed its upward trend while the euro fell sharply. Yesterday’s activity represented a retreat from the previous session's heavy move into riskier assets...

  • Fed opens door wider for rate hike

    The Federal Reserve on Wednesday moved a step closer to hiking rates for the first time since 2006, but downgraded its economic growth and inflation projections, signalling it is in no rush to push borrowing costs to more normal levels. The US...

  • EU to require sharing of corporate agreements to curb tax avoidance

    EU to require sharing of corporate agreements to curb tax avoidance

    European Union countries will have to share information on tax deals agreed with major corporations under European Commission plans to limit the ability of big business to avoid tax across the 28-nation bloc. EU members would, from next year, have...

  • Company briefs

    Company briefs

    This summer Air Malta is offering customers a selection of 160 weekly flights to around 50 destinations. The schedule runs from March 29 until October 24. The airline is offering scheduled services on 26 of these routes, whereas 23 are charter...

  • Fimbank in shock $53m loss

    Fimbank in shock $53m loss

    Fimbank plc had long been warning that 2014 was turning out to be a very challenging year. At the time of the publication of the financial statements as at June 30, 2014, various impairment charges were taken totalling $10.2 million and the...

  • Chancellor Osborne reduces paces of cuts

    British Chancellor George Osborne lowered his target for a future budget surplus and announced higher economic growth forecasts as he sought to show voters that the country’s recovery is entrenched. Osborne, in his annual budget statement to...

  • Europe shares rise while Wall Street slips

    Stocks on Wall Street slipped and shares in Europe rose yesterday, reflecting diverging policies between the Federal Reserve and the European Central Bank, while oil prices fell as data showed US crude inventories hit a record high. US stocks were...

  • Shipping movements

    The following ships are expected in Malta: The Jork Valiant from Annaba to Sfax, the Stjerneborg from Tripoli to Tripoli, the HH West (ex-Conwest) from Bejaia, the CMA CGM Racien from Genoa to Port Said, the CMA CGM Norma from Fos-sur-Mer to...

  • MSE Share Index rallies to 4-year high

    MSE Share Index rallies to 4-year high

    The positive trend in the MSE Share Index gained momentum during this morning’s session as it rallied by 2% to reach a fresh 4-year high of 3,784.668 points with most active equities once again moving upwards. Most notably, the share price of Bank...

  • Leveraged ETFs; not for the faint hearted

    Leveraged ETFs; not for the faint hearted

    The appeal of investing in a leveraged Exchange Trades Fund or an Exchange Traded Note (ETF) is simple; the leveraged fund increases the exposure and impact of the underlying investment. For example a leveraged ETF based on oil may attempt to...

  • Britain needs oil tax cuts to attract North Sea investment

    Britain needs oil tax cuts to attract North Sea investment

    Britain’s Chancellor must announce bold oil tax changes in his 2015-2016 Budget this week to inject new life into the battered North Sea where investment in new projects has fallen and billions of dollars of assets are up for sale. Oil and gas...

  • HSBC closes Jersey accounts as it steps up clients’ scrutiny

    HSBC is closing accounts in Jersey that are held by non-residents as the bank steps up scrutiny of its clients, a person familiar with the matter said yesterday The bank is sending letters to such customers to inform them that their accounts could...