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  • Putin orders cash from wealth fund be used to support banks

    Putin orders cash from wealth fund be used to support banks

    Money collected in one of Russia’s two ‘rainy day’ funds should be used to support domestic banks, President Vladimir Putin said on Thursday, as he set out efforts to help Moscow counteract Western sanctions and overcome its economic woes. Broadly...

  • Pilot strike grounds half of thelong-haul flights at Lufthansa

    Pilot strike grounds half of thelong-haul flights at Lufthansa

    Pilots at Lufthansa staged their second strike this week yesterday, grounding about half of scheduled long-haul flights at the German flagship carrier, in a drawn-out dispute over an early retirement scheme. Pilots’ union Vereinigung Cockpit (VC),...

  • Euro jumps and bonds sag as the ECB puts off its stimulus decision

    The euro rebounded and bond yields in the eurozone bounced off record lowsyesterday, after the European Central Bank put off until next year a decision about whether to increase economic stimulus, leaving investors uncertain. The ECB’s Governing...

  • Ryanair raises profit forecast after surge in passengers

    Ryanair raises profit forecast after surge in passengers

    Ryanair raised its profit forecast for the second time in a month yesterday following a 22 per cent jump in passenger numbers in November as new high-frequency routes to mainstream European airports proved popular. Since a pledge last year by...

  • Bidders line up for Fortum’s Swedish grid

    Bidders including Borealis, Macquarie and Cheung Kong Infrastructure Holdings (CKI) are lining up multi-billion dollar bids for Fortum’s Swedish power grid ahead of a mid-December deadline, sources familiar with the matter told Reuters. Finland’s...

  • BOV, HSBC trade lower

    BOV,  HSBC trade lower

    During this morning’s session, the share index shed 0.5 per cent to 3,259.635 points mainly due to the declines in the share prices of the two large banks. Bank of Valletta eased by 0.9 per cent to €2.22 across eight trades totalling 19,640 shares.

  • BOV pays €4.6m to extend House of Four Winds lease

    BOV pays €4.6m to extend House of Four Winds lease

    Bank of Valletta has paid €4.6 million to extend its lease of the House of Four Winds from around 40 years to a temporary emphyteusis of 65 years. The contract was signed last September though it was not ­announced by the bank. A few years ago,...

  • Setanta report by mid-January

    Setanta report by mid-January

    The Maltese liquidator appointed to sort out the mess left by the collapse of the Irish Setanta insurance company, Paul Mercieca, hopes to be in a position to make an application to the Irish Courts to access the appropriate compensation fund by...

  • Changing the Maltese pensions landscape

    On Wednesday November 12, Prof Edward Scicluna launched the Third Pillar Pension scheme, encouraging low income earners to start saving for their retirement. Interestingly, a regulatory framework for ‘private’ pensions has been in place since 2002...

  • Malta again voted the Most Favoured Fund Domicile in Europe

    Malta again voted the Most Favoured Fund Domicile in Europe

    For the second consecutive year, Malta has been coveted with Europe’s Most Favoured Domicile award at the Hedge Funds Review 13th European Fund of Hedge Funds Awards 2014. The European Fund of Hedge Funds Awards remains the only signature event...

  • Increased funding for SMEs

    Increased funding for SMEs

    The government will be allocating €15 million to the latest SME funding initiative, considerably more than what it had allocated to the popular Jeremie initiative. Since the amount guaranteed by the government could be leveraged by the financial...

  • Handful of applicants approved for citizenship

    Handful of applicants approved for citizenship

    Five applicants have so been given approval in principle for Maltese citizenship, according to sources. Their applications were submitted by different agencies, one of which was Henley. A few weeks ago, Chetchuti Cauchi Advocates announced that...

  • KPMG announces offer to acquire Crimsonwing

    KPMG has made an offer to acquire Crimsonwing, an inter­national IT company focusing on Microsoft Dynamics and e-Commerce business solutions. KPMG’s offer values Crimsonwing at €26 million. If successful, the acquired business will become known as...

  • Third pillar pensions: a first step?

    Third pillar pensions: a first step?

    The Bill amending the Social Security Act to allow third pillar pensions – making it possible for people to voluntarily take up a private pension to top up their State pension – was approved by Parliament last month. Under the new law an...

  • More ‘civil’ and more ‘service’

    More ‘civil’ and more ‘service’

    The appointment of Mario Cutajar as the head of the civil service after the election was met with some raised eyebrows, mostly because of his somewhat militant reputation as deputy secretary general of the General Workers’ Union until 2002.

  • MSV Life proposes 11th hour tweaks to third pillar pensions

    MSV Life proposes 11th hour tweaks to third pillar pensions

    MSV Life is proposing a number of tweaks to the third pillar pension rules that should be issued by the end of the year – warning that without them, take-up might be very disappointing. MSV Life has been gearing up for private pensions for eight...

  • The argument for a bridge

    The debate over a bridge to Gozo has understandably looked at the environment impact it would cause, the impact of interfering with the undefinable ‘getting away’ feeling that comes from getting onto a ferry, as well as whether there should even...

  • Traffic freakonomics

    Daily traffic chaos in Malta is a clear example of market failure, a situation where the private interests of individuals are resulting in undesirable effects which are impacting negatively the rest of the population. The situation has worsened so...

  • Maltese-owned Premier Capital celebrates 20 years of McDonald’s in Latvia

    Maltese-owned Premier Capital celebrates 20 years of McDonald’s in Latvia

    Maltese-owned Premier Capital plc, the developmental licencee for McDonald’s in the Baltic states, recently marked the brand’s 20 years in Latvia with an event in Riga. To this day, the Riga outlet is the most visited restaurant in the region,...

  • Go appoints HR chief

    Go appoints HR chief

    Ayrton Caruana has been appointed as chief human resources officer at Go. Mr Caruana joined Go in 2008 and occupied various senior management roles within Go’s HR department. Over the past years Mr Caruana played an important role in various...

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