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Business

  • Rolls-Royce says profit will not rise next year

    Rolls-Royce says profit will not rise next year

    British engineer Rolls-Royce yesterday warned that deteriorating economic conditions meant its profit would not rise next year as previously forecast, sending its shares plunging as much as 16 per cent. Rolls-Royce said the market for its main...

  • Cautious welcome for Apple devices

    Cautious welcome for Apple devices

    Apple has, for the second time in a month, introduced new hardware to the world. The new iPad Air 2 and iPad mini 3 refresh the technology giant’s tablet range, while their desktop computer, the iMac, has been given a new 5K display to mark its...

  • Index regains some losses to end week marginally higher

    The Malta Stock Exchange (MSE) index partially recouped last week’s negative performance as it gained 0.12 per cent, to close at 3,342.651 points. Activity was spread across 14 equities of which seven gained ground, two declined and five closed...

  • Two-year high for European stock indexes

    World equity markets rallied, with European stocks gaining the most in more than two years, and bond prices fell yesterday as investors poured back into beaten-down markets on solid US corporate earnings and rising consumer sentiment. Wall Street...

  • Singapore Airlines aids affiliate Tiger

    Cash-rich Singapore Airlines Ltd (SIA) is injecting up to $110 million to take control of loss-making affiliate Tiger Airways Ltd, shoring up the budget carrier while scrapping its regional ambitions as competition rages. Announcing a record...

  • Daily currency report

    The US dollar got off to a subdued start with America’s central bank taking centre stage. The Federal Reserve last week knocked the dollar into a lower orbit after minutes from its last meeting voiced concern over the shape of the world economy,...

  • Hal Mann Vella Group launches €30 million secured bonds 2024

    Hal Mann Vella Group has launched to the public €30 million secured bonds due in 2024 at an interest coupon of five per cent of a nominal value of €100 per bond at par. The bonds are secured by a special hypothec on property of Hal Mann Vella...

  • Share index higher for third consecutive day

    Share index higher for third consecutive day

    The share index moved higher for the third consecutive day with a further 0.6 per cent increase to a one-week high of 3,342.651 points as various equities trended in positive territory during this morning’s session. Most notably, HSBC edged 1.8...

  • Economy in a liberal society

    I ended last week’s contribution with this statement: “…state support for individuals and businesses is a positive thing as long as this encourages initiative and independence. This is probably what today’s liberal society expects – but that is a...

  • Eurozone back in the firing line

    Eurozone back in the firing line

    After a two-year siesta, the eurozone is back in the financial markets’ firing line due to stagnating growth, low inflation, budget problems in France and Italy and rising political risk in Greece, where the bloc’s debt crisis began in 2009. This...

  • Deflation stalks Europe’s periphery as inflation slips to five-year low

    Deflation stalks Europe’s periphery as inflation slips to five-year low

    Deflation hit five peripheral eurozone countries in September as inflation slipped to its lowest for five years and exports faltered, data showed yesterday, offering little hope that the bloc will avoid its third recession in six years. While...

  • Addressing the pensions dilemma

    Two amendments to the law were recently presented in Parliament, one to amend the Income Tax Act and the other to amend the Social Security Act. Both amendments are intended to pave the way for new fiscal incentives in order to encourage people to...

  • Fears Europe’s debt crisis is waking up from slumber

    Global equity markets tumbled again yesterday as investors continued to worry about world growth and on fears that Europe's debt crisis was waking up from a two-year slumber, while crude oil slumped to a four-year low. But new data indicating...

  • Goldman Sachs profit gets big boost from bond market pickup

    Goldman Sachs profit gets big boost from bond market pickup

    Goldman Sachs Group Inc reported a 50 per cent jump in third-quarter net profit yesterday as last month’s sudden pickup in bond market activity helped to boost trading revenue. Net income attributable to common shareholders rose to $2.14 billion,...

  • Ford’s European sales rise 12% in September

    Ford sales in Europe climbed sharply in September – pushing its market share to a three-year high – on strong demand for Ford’s new passenger cars and commercial vehicles. Ford’s European vehicle sales increased 12 per cent to nearly 130,000...

  • Company briefs

    Full-time students at a secondary and tertiary level of education can now benefit from Vodafone’s improved students plans, including all those who attend any secondary school, Sixth Form college, University or vocational college in Malta and...

  • BOV’s equity regains €2.25 level

    BOV’s equity regains €2.25 level

    The share index advanced by 0.2 per cent to 3,323.447 points as two of the large caps partly recovered from recent declines. The share price of Bank of Valletta gained a further 0.9 per cent to close at the €2.25 level on volumes of 18,314...

  • Hal Mann Vella bond issue

    Hal Mann Vella bond issue

    Financial market participants were long aware that the Hal Mann Vella Group was seeking to tap the bond market. On October 8, the company confirmed the publication of a prospectus for €30 million in secured bonds following approval by the Malta...

  • The leadership gap!

    The leadership gap!

    Leadership spans every aspect of social, political and economic activities in Malta and yet we perhaps are not giving it due attention. Our education system’s emphasis on developing academic and technical ability to the highest level seems to be...

  • Toyota recalls 1.67m cars for defects

    Japan’s Toyota Motor Corp. said yesterday it would recall a total 1.67 million vehicles globally in a voluntary move to address three separate defects including a faulty brake master cylinder that could hinder the brake’s performance. Toyota said...

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