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  • Chinese offshore oil executive is probed on suspected graft

    A senior official of China National Offshore Oil Company (CNOOC) is under investigation suspected of having received bribes, China’s top prosecutor said yesterday, the first executive from the offshore oil and gas firm embroiled by Beijing’s war...

  • AstraZeneca gets sales boost from delay of generic copies

    AstraZeneca gets sales boost from delay of generic copies

    AstraZeneca raised its 2014 sales forecast for the second quarter in a row yestesrday, as the delayed arrival of generic copies of its Nexium drug in the United States kept cash flowing from the heartburn and ulcer pill. Britain’s second biggest...

  • Oil falls below $80 as US stock prices approach record highs

    US stock prices rose yesterday, hovering near record highs, while crude fell below $80 a barrel for the first time in four years on further signs of a slowdown in China’s economy. Brent crude has fallen more than 30 per cent since June, and the...

  • UK banks face break-up threat as competition investigation launched

    UK banks face break-up threat as competition investigation launched

    Britain’s big banks could be broken up after the country’s competition watchdog launched an in-depth investigation into services for small business customers and personal accounts because of a lack of competition. It marks the latest step by...

  • Company briefs

    Company briefs

    Air Malta together with Sky Gourmet will be assisting the Malta Community Chest Fund during November and December. During these months, Air Malta cabin crew will be collecting funds on board the airline’s flights towards this cause. The MCCF...

  • BOV declines on last day for dividend

    BOV declines on last day for dividend

    Today marked the last day that Bank of Valletta plc shares traded with the entitlement to the final gross dividend of €0.0925 per share announced on Friday October 30. Nonetheless, the share price of BOV failed to hold on to an intra-day high of...

  • Banking on the Apple story

    Banking on the Apple story

    Although the Hili family has issued bonds on other occasions in the past, few investors associate them with the IT sector. In fact, PTL Holdings plc was only established in December 2013 as the holding company of the technology division of Hili...

  • Unhappy Yahoo investors are asking AOL for rescue

    At least two top-10 Yahoo Inc. shareholders are so unhappy with chief executive Marissa Mayer’s turnaround efforts that they are making a direct plea to AOL Inc. CEO Tim Armstrong to explore a merger and run the combined company. Their move...

  • Shipping movements

    The following ships are expected in Malta: The CMA CGM Corte Real from Le Haver to Khor al Fakkan, the Mozart from Valencia to Livorno, the Hansa Narvik from Alexandria to Mersin, the El Toro from La Goulette (all Carmelo Caruana Co. Ltd) and the...

  • Bank of England sees inflation below 1%

    British inflation is likely to fall below 1 per cent in the next six months, the Bank of England said yesterday, giving tacit endorsement to markets’ view that it will not raise interest rates until late next year. The central bank said that since...

  • Regulators fine global banks $3.4 billion in forex probe

    Global regulators imposed penalties totalling $3.4 billion on five major banks, including UBS, HSBC and Citigroup yesterday for failing to stop their traders from trying to manipulate foreign exchange markets. Royal Bank of Scotland and JP Morgan...

  • US stocks slip from record highs as price of Brent falls

    US stock prices fell from record highs yesterday led by weakness in the financial sector due to five banks paying fines to settle charges of currency rigging, while the oil market sagged on concerns about a supply glut, keeping benchmark Brent...

  • MIA reaches new all-time high

    MIA reaches new all-time high

    The equity of Malta International Airport had a volatile session as it opened 0.9 per cent higher at the €2.35 level before slipping to an intra-day low of €2.33. However, in the last moments of today’s trading session, new bids emerged to lift...

  • Freedom to provide services

    The right of European citizens and companies alike to provide services in any EU member state of their choice has once again been given a wide interpretation by the Court of Justice of the European Union. It is illegal for a member state to tax...

  • Vodafone lifts its forecast as new offerings boost demand

    Vodafone lifts its forecast as new offerings boost demand

    Vodafone, the world’s second-biggest mobile operator, nudged its full-year earnings forecast higher yesterday as improving demand in its big European markets and an investment push into new products helped reduce a drop in revenues. Faced with...

  • Russian central bank buys up domestic gold output as sanctions bite

    Russia’s central bank has been forced to step up its gold buying this year to absorb domestic production that Western sanctions are making it hard for miners to sell abroad, and to boost liquidity in its foreign reserves, sources said. Most...

  • London’s ‘Gherkin’ tower sold to Brazilian billionaire

    London’s ‘Gherkin’ tower sold to Brazilian billionaire

    London’s landmark ‘Gherkin’ office tower has been sold to investment company Safra Group, controlled by Brazilian-Lebanese billionaire Joseph Safra. The office tower was placed into receivership by its creditors, accountancy firm and joint...

  • US stocks dip as Brent crude hits 4-year low

    US stock prices dipped yesterday after the Dow and Standard & Poor’s 500 hit record intraday highs for a fifth straight session, while the dollar rose against the yen on the prospect of a delay in a planned sales tax hike in Japan. Oil prices fell...

  • China, US reach breakthrough in talks on IT free trade deal

    China, US reach breakthrough in talks on IT free trade deal

    China and the US have reached a breakthrough in talks on eliminating duties on information technology products, a deal that could pave the way for the first major tariff-cutting agreement at the World Trade Organisation in 17 years. The...

  • BOV and HSBC trade in opposite directions

    BOV and HSBC trade in opposite directions

    The MSE Share Index registered its third consecutive uplift with a further marginal increase to 3,333.552 points on the stock exchange today. This was largely due to the 0.4% rise in the share price of Bank of Valletta plc to yet another 7-month...