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Business

  • Rise of new banks helps keep Russia’s economy afloat

    Rise of new banks helps keep Russia’s economy afloat

    Four private banks with friendly ties with the Kremlin are emerging as big winners from Russia’s economic crisis, helping out dollar-starved companies at a time when large state lenders are hampered by Western sanctions. The four, FC Otkritie,...

  • China, oil weigh on share prices

    Fears about China’s economy and falling oil prices kept world equity indexes under pressure yesterday, with US crude falling to a March 2009 low after data showed an unexpected rise in stockpiles. Energy shares were the biggest drag on Wall...

  • Shipping movements

    The following ships are expected in Malta: The Daniel from Tunis to Tunis, the Stadt Flensburg from Annaba to Algiers (both Thomas Smith Shipping Ltd), the Elbella from Mersin to Mersin (CMA CGM Malta Agency Ltd) and the MSC Rosa M from Port Said...

  • Louis Vuitton – You’re better off with the shares than the bag

    When someone mentions Louis Vuitton, the first thing that comes to mind is a handbag and the second is the price tag that comes with it. If I had €5000 to spend on Louis Vuitton, I would ignore the bag and go straight for the shares. The thrill of...

  • Rentals, utility bills and VAT

    The Court of Justice of the European Union (CJEU) recently dealt with the tax treatment of utilities provided in the context of letting of immovable property. The ruling of the CJEU followed a referral made by the Polish Supreme Administrative...

  • UK inflation ticks up in July, core inflation hits five-month high

    UK inflation ticks up in July, core inflation hits five-month high

    British inflation edged up in July, official figures showed yesterday, helped by smaller discounts on clothing compared to this time last year, while core inflation hit a five-month high. Consumer price inflation ticked up 0.1 per cent in July...

  • US gives Shell final nod to drill for oil in Arctic

    US gives Shell final nod to drill for oil in Arctic

    The Obama administration granted Royal Dutch Shell final clearance to resume drilling for oil and gas in the environmentally-fragile Arctic Ocean for the first time since 2012, a move green groups vowed to fight. The US Department of the Interior...

  • Wall Street and Europe slip after Chinese sell-off

    A six per cent tumble in Chinese shares yesterday and disappointing earnings from Wal-Mart dented US equities while copper and oil prices touched multi-year lows. Wal-Mart Stores Inc fell 3.2 per cent to $69.63 as the biggest drag on the Dow after...

  • HSBC shares drag MSE Share Index lower

    HSBC shares drag MSE Share Index lower

    The MSE Share Index this morning retreated by 0.2% to 4,219,743 points largely due to the 1.6% drop in the share price of HSBC Bank Malta plc back to the €1.80 level across nine deals totalling 17,753 shares. On 10 September the Bank is due to pay...

  • What makes an investor successful?

    There have been many textbooks and articles written on what it takes to become a successful investor. There are a number of traits which make some investors more successful than others – for the inexperienced investor, investing requires courage,...

  • Malta residents hit with tax on UK properties

    Malta residents hit with tax on UK properties

    In the past, people who have lived outside of the UK for five years have been exempt from capital gains tax when selling UK properties. From April 6, 2015, these rules changed so non-residents owning UK residential property are now subject to UK...

  • Money market report for the week ended August 14

    On Monday, August 10, the European Central Bank announced its weekly main refinancing operation (MRO). The auction was conducted the following day and attracted bids from euro area eligible counterparties of €69.67 billion, €1.33 billion lower...

  • India’s IndiGo finalises £16.9 bn purchase of 250 new Airbus jets

    India’s IndiGo finalises £16.9 bn purchase of 250 new Airbus jets

    IndiGo, India’s biggest airline by market share, has finalised the purchase of 250 Airbus A320neo aircraft, handing the European company its largest-ever order by number of planes in a deal worth $26.55 billion at list prices. The agreement...

  • Japan economy shrinks in Q2 in setback for ‘Abenomics’

    Japan economy shrinks in Q2 in setback for ‘Abenomics’

    Japan’s economy shrank at an annualised pace of 1.6 per cent in April-June as exports slumped and consumers cut back spending, adding pressure on Prime Minister Shinzo Abe to step up his policy drive to lift the economy out of decades of...

  • Markets gain modestly as Wall Street shakes off weak manufacturing data

    World equity indexes gained modestly yesterday after a rout last week, with rosy US housing data helping Wall Street shrug off a weak manufacturing report, while the prospect of higher US interest rates lifted the dollar for a third day. US...

  • China stocks claw back losses but fear further yuan depreciation

    China stocks claw back losses but fear further yuan depreciation

    Chinese stocks recouped early losses yesterday but gains were capped by fears that Beijing would let the yuan depreciate further, despite statements from the central bank last week that it sees no reason for more declines. After ending morning...

  • Oil near six-year low on Japan data, oversupply

    Oil prices fell towards six-year lows yesterday after data showed Japan’s economy contracted and producers in the US added drilling rigs for a fourth straight week despite a recent rout in prices. Japan’s economy, the world’s third biggest oil...

  • RS2 share price jumps on surge in profits

    Last Friday afternoon, RS2 Software plc published its interim results covering the six months ended 30 June 2015 revealing a significant improvement in pre-tax profits to €6.56 million compared to €2.96 million in the corresponding six months of...

  • Apple: let the music play

    It’s common knowledge that with the introduction of high speed internet access the music industry has changed forever. Throughout the last ten years companies such as Pandora, Spotify, Last FM, and Google Play; to name a few, have been fighting...

  • Cecil the Lion and the media

    Cecil the Lion and the media

    Summer is not an easy time for journalists. Almost everywhere, except in Malta, political stories become scarce. Pompous politicians jet off to their holidays and relieve us of the bombastic rhetoric that makes them think they are the real masters...