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Surge in illegal bank loan-funded China property buys worries regulators

BEIJING, April 16 (Reuters) - Property purchases in China funded through bank loans fraudulently obtained by speculators are fuelling already red-hot real estate markets in its biggest cities and beginning…

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Malta – 19% of catering establishments close in first year of pandemic – ACE

In a study conducted by the Association of Catering Establishments (ACE) in collaboration with a number of suppliers it transpires that between March 2020 and March 2021 approximately 19 percent…

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Hyundai Motor Group plans to launch EVs in China every year starting 2022

South Korea's Hyundai Motor Group said on Thursday it plans to launch electric vehicles (EVs) in China every year starting 2022 to enhance its presence in the world's biggest car…

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Oil predicted to hit $40 by 2030 if climate goals are met

Global oil prices could drop to around $40 a barrel by 2030 if governments push to reduce fuel consumption in step with U.N.-backed plans to limit global warming, a leading…

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Irish unemployment to remain above pre-pandemic levels until at least 2025

Irish unemployment will remain above pre-pandemic levels until at least 2025, reflecting some scarring from the crisis that will see national debt peak among the highest levels in the developed…

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Wizz Air forecasts gradual flying recovery into late summer

Hungarian low cost airline Wizz Air forecast flying would only recover gradually into late summer, as the travel industry enters a second year of pandemic restrictions. Wizz Air said on…

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German economy shrank 1.8% in first quarter due to COVID lockdown

e German economy probably shrank by 1.8% in the first quarter because of COVID-19 restrictions, leading economic institutes said on Thursday as they revised their joint growth forecast for Europe's…

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Turkey bans use of cryptocurrencies to purchase goods and services

ANKARA (Reuters) - Turkey's central bank banned the use of cryptocurrencies and crypto assets to purchase goods and services, a week after Turkish authorities demanded user information from trading platforms.…

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Hopes rise for Britain’s summer getaway season

Hopes that the great British getaway would be possible this summer grew on Wednesday, with easyJet predicting that most of Europe would be open for travel and British Airways confident…

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Qantas forecasts domestic capacity will soon leap beyond pre-pandemic levels

Qantas Airways Ltd said it expected domestic travel would top pre-pandemic levels next financial year as it raised its forecast for the current quarter on the back of strong demand…

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Oil holds near one-month highs as demand forecasts raised

Oil prices were lower on Thursday though holding near one-month highs after futures jumped in the previous as the International Energy Agency (IEA) and others upgraded forecasts for oil demand…

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SsangYong Motor in receivership

South Korea's SsangYong Motor has been put under court receivership, the Seoul Bankruptcy Court said on Thursday, in an attempt to rehabilitate the car maker after majority owner Mahindra and…

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Gold firms as dollar stalls ahead of U.S. retail sales, jobless claims data

Gold prices edged higher on Thursday buoyed by a weaker dollar, while investors awaited U.S. weekly jobless claims and March retail sales data for further clarity on the recovery in…

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IEA ups oil demand forecast as vaccinations brighten outlook

Vaccine rollouts are brightening the outlook for global oil demand, the International Energy Agency (IEA) said on Wednesday, though rising cases in some major oil-consuming countries show a recovery may…

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Tesco sales surge but COVID costs wipe out fifth of pretax profit

Tesco, Britain's biggest retailer, reported a 20% drop in full-year pretax profit as the cost of adapting the business for the pandemic wiped out the benefit of "exceptionally strong" grocery…

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Seven European countries to halt export finance for fossil fuels

Seven European countries, including Germany, France and Britain, will commit on Wednesday to stop public export guarantees for fossil fuel projects, French Finance Minister Bruno Le Maire said. Coal, oil…

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Qantas sees domestic business travel recovery 3 months behind leisure market

Australia's Qantas Airways Ltd has seen domestic leisure travel rebound to pre-pandemic levels, but demand in the corporate travel market is lagging about three months behind, its chief executive said.…

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Photo Story – Malta Air Boeing 737 Max closer to take off

Woodys AeroImages has revealed new photos of Ryanair's subsidiary airline 9H-VUA Malta Air's Boeing 737 Max with engine cages in place indicating that either 1st engine start is imminent or…

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Ryanair to take delivery of first 737 MAX in coming days, loses court challenges to SAS, Finnair state aid

Ryanair is set to take delivery of its first Boeing 737 MAX airliner following two years of delay caused by the grounding of the jet in the wake of two…

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Failed British airline Flybe to relaunch this summer

Flybe, the regional British airline which failed last year, is set to relaunch this summer after the sale of the former company's business and assets to a new company backed…

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EasyJet sees more flying from late May

British airline easyJet said it expected to start to fly more from late May onwards, shrugging off worries about a third wave of COVID-19 infections in continental Europe which have…

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UPDATED: Italy considering alternative options for Alitalia if talks with EU fail

Italy's government is exploring alternative plans for the revamp of troubled airline Alitalia should ongoing negotiations with the European Commission fail, Industry Minister Giancarlo Giorgetti said on Wednesday. "Discussions are…

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Gold unchanged after early spike as firm bond yields offset weak dollar

Gold prices steadied after gaining in early trade on Wednesday as weakness in the U.S. dollar due to higher inflation was countered by some firming in Treasury yields. Spot gold…

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New Zealand to end livestock exports due to animal welfare concerns

New Zealand said on Wednesday it will stop the export of livestock by sea following a transition period of up to two years, citing animal welfare concerns for a decision…

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Oil rises on drawdown in U.S. oil stocks, OPEC demand outlook

Oil prices rose in early trade on Wednesday, adding to overnight gains, after industry data showed U.S. oil inventories declined more than expected and OPEC raised its outlook for oil…

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Bitcoin hits record before landmark Coinbase listing on Nasdaq

The largest U.S. cryptocurrency exchange's listing on the Nasdaq on Wednesday is considered a landmark victory for cryptocurrency advocates. Bitcoin is the world's biggest cryptocurrency, with growing mainstream acceptance as an…

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BOV launches new 3D Secure App

Bank of Valletta has launched its new BOV 3D Secure App, an app that introduces a stronger security process for online purchases. This new App replaces the current method whereby…

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Euro zone retail sales stronger than expected in February

Euro zone retail sales were stronger than expected in February, data showed on Monday, as some countries eased their COVID-19 pandemic restrictions before tightening them again in March. The European…

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UK economy grew in February as firms prepared for lockdown easing

Britain's economy grew by 0.4% in February from January as companies got ready for the lifting of a third coronavirus lockdown, official data showed on Tuesday. Economists polled by Reuters had expected growth…

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New Zealand introduces climate change law for financial firms in world first

New Zealand has become the first country to introduce a law that will require banks, insurers and investment managers to report the impacts of climate change on their business, minister for climate change James Shaw said on Tuesday.…

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Greece’s Aegean Airlines posts full-year loss on pandemic impact

Greece's largest carrier Aegean Airlines on Monday reported a full-year net loss for 2020 as passenger traffic fell amid the coronavirus pandemic. Aegean said its net loss was 227.9 million…

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Swedish economy to pick up speed after slow start to year

Sweden's economy will grow faster than previously expected this year, the government said on Monday, despite a third wave of COVID-19 infections that has led to tighter restrictions on society.…

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Sanofi to invest 400 mln euros in new vaccine production site in Singapore

French drugmaker Sanofi said on Monday it would invest 400 million euros ($475.40 million) over five years in a new vaccine production site in Singapore. The new site would provide…

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After sanctions, Huawei turning to businesses less reliant on high-end U.S. tech

Chinese telecoms equipment maker Huawei Technologies will invest more in businesses that are less reliant on advanced process techniques, it said on Monday, citing U.S. sanctions that have reduced its…

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Heathrow passenger numbers down 83% in March

Heathrow Airport passenger numbers fell 83% in March compared to the same month last year, Britain's biggest airport said in a statement on Monday, as the pandemic continued to hit…

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EU sets provisional tariffs on Chinese aluminium products

The European Union has set provisional tariffs on aluminium flat-rolled products from China after an initial investigation found they were being sold into the bloc at artificially low prices. The…

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European business travellers say set to fly less after COVID-19

Four in 10 European business travellers plan to fly less after COVID-19 travel restrictions are fully lifted, a survey showed on Monday, with many intending to stick to video conferences.…

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Gold prices slip as Treasury yields, dollar firm on upbeat U.S. data

Gold prices fell on Monday, weighed down by surging U.S. Treasury yields and a firmer dollar after better-than-expected U.S. economic data lifted prospects for higher inflation. Spot gold fell 0.3%…

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IMF warns on rising debt risks in virus-hit Middle East, Central Asia

The International Monetary Fund said countries in the Middle East and Central Asia need to curb their financing requirements, as a surge in government debt, exacerbated by the pandemic, threatens…

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Oil prices climb on favourable outlook for U.S. fuel demand

Oil rose on Monday amid hopes that fuel demand is picking up in the United States as the summer driving season approaches and the rollout of COVID-19 vaccinations there accelerates,…

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Next week crucial for Italy, EU talks over Alitalia – minister

MILAN, April 11 (Reuters) - Talks between Italy and the European Commission over the revamp of Alitalia will enter a key phase next week, Italian Industry Minister Giancarlo Giorgetti said…

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Summer holiday abroad? Too soon to guarantee that, says French minister

PARIS, April 11 (Reuters) - France said on Sunday it was too soon to say whether holidays abroad would be possible this summer as a third wave of coronavirus infections…

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High stakes at sea in global rush for wind power

Global competition for offshore wind power is so hot that licence auctions now resemble the oil and gas competitions of just a few years ago, and some of the names…

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Suez Canal may expand southern channel, chairman says

The Suez Canal Authority is considering expanding the southern section of the waterway where the container ship Ever Given became stranded, its chairman said. It is also looking into procuring…

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Britons spend more on golf and picnics as COVID rules relax

British consumers ramped up their spending on golf, picnics and other newly permitted outdoor activities last week as some coronavirus restrictions were lifted, payments firm Barclaycard said. Golf courses, tennis…

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FELTOM Deeply Concerned About Industry’s Future

FELTOM expressed its disappointment following the recent announcement made by the Superintendent of Public Health delaying the opening of ELT schools. While this is having a detrimental impact on the…

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China fines Alibaba record $2.75 billion

Chinese regulators have fined Alibaba Group Holding Ltd 18 billion yuan ($2.75 billion) for violating anti-monopoly rules and abusing its dominant market position, marking the highest ever antitrust fine to…

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Malta to pay tourists who visit this summer

VALLETTA, April 9 (Reuters) - Aiming to revive its tourism industry and get ahead of rival destinations, Malta plans to offer foreign visitors a handout of up to 200 euros ($238.10) each…

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Digital pound would boost post-Brexit City of London, think-tank says

A digital pound must be at the heart of Britain's efforts to strengthen the City of London's global attraction as a financial centre after Brexit, think-tank CityUnited Project said on…

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Boeing production issue prompts airlines to pull some 737 MAX jets from service

WASHINGTON, April 9 (Reuters) - U.S. airlines temporarily suspended the use of more than 65 Boeing 737 MAX jets on Friday after the planemaker asked 16 carriers that operate the…

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U.S. adds Chinese supercomputing entities to economic blacklist

The U.S. Commerce Department announced it was adding seven Chinese supercomputing entities to a U.S. economic blacklist for assisting Chinese military efforts. The Commerce Department said the seven were "involved…

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China will take necessary measures to uphold rights of Chinese companies

China said on Friday it would take necessary measures to uphold the rights and interests of Chinese companies, after the United States added Chinese supercomputing entities to an economic blacklist.…

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China pulls German trade up, but Brexit hits UK business

German exports rose in February, boosted by surging trade with China in a fresh sign that factories are busy in Europe's largest economy despite a sharp drop in trade with…

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Holidays for the rich: airlines criticise Britain’s travel restart plan

Airlines slammed Britain's plans for restarting international travel, saying that expensive testing requirements for trips to low-risk countries would mean that only wealthy people could take holidays abroad. Under government…

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China halts new enrollments at business school backed by Jack Ma

Beijing authorities have forced an elite business school backed by Alibaba Group Co Ltd founder Jack Ma to halt enrollments, the Financial Times said on Friday, citing sources familiar with…

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Jet2 cancels holidays until late June, blames UK uncertainty

British travel company Jet2 said it was suspending flights and holidays until June 23 given the ongoing uncertainty around travel from the United Kingdom. Britain has said it will provide…

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Gold slips after promising China data; set for weekly rise

Gold prices fell on Friday as robust economic data from China boosted hopes of a swift recovery, although bullion was set to rise more than 1% on the week as…

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