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Euro zone business activity shrink sharply in November as lockdowns bite

Euro zone business activity has contracted sharply this month as renewed restrictions to try to quell the spread of the coronavirus forced many firms in the bloc's dominant service industry…

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COVID-19 lockdown hurts Germany’s services sector – PMI

German service sector activity has contracted faster this month after restrictive measures were introduced to tame a second wave of COVID-19 infections, a survey showed on Monday. IHS Markit's flash…

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Hong Kong, Singapore bubble delay highlights hurdles to travel recovery

A delay to Asia’s first travel bubble between Hong Kong and Singapore has hit the shares of their flag carriers and highlighted the challenges facing the global travel industry as…

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Brexit and the City of London: what changes and when

Britain, which left the European Union in January, loses full access to the bloc under transition arrangements that end at 2300 GMT on Dec. 31. The EU is Britain's biggest…

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UK economy shrinks as new lockdown shuts services firms – PMI

British business activity has contracted in November as a new wave of coronavirus restrictions hammered the huge services industry, but news of possible vaccines have boosted hopes for 2021, a…

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UK shoppers drop 55% as English lockdown bites

The number of shoppers across British retail destinations fell 55.4% in the week to Nov. 21 from a year earlier, mainly reflecting the impact of a second full week of…

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Dubai expects economic boost from UAE golden visa extension

Dubai said the economic growth rate could increase by up to 1% because of plans by the United Arab Emirates to extend to more categories a "golden" visa system which…

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Oil prices extend gains on COVID vaccine hopes

Oil prices extended gains on Monday as traders eyed a recovery in crude demand thanks to successful coronavirus vaccine trials, although prices were contained by renewed lockdowns in several countries.…

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Gold edges up on softer dollar, Fed stimulus bets

Gold edged higher on Monday, as a softer dollar and hopes of further U.S. monetary stimulus offset optimism over the quick rollout of a COVID-19 vaccine and bolstered the precious…

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European regulator to lift Boeing 737 MAX grounding in January

Europe is set to lift its flight ban on the Boeing 737 MAX passenger jetliner in January after U.S. regulators last week ended a 20-month grounding triggered by two fatal…

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US CDC warns against cruise ship travel

The U.S. Centers for Disease Control and Prevention (CDC) said on Saturday it recommended that all people avoid cruise ship travel as the risk of COVID-19 on liners is very…

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EU approves Malta Budget but forecasts lower growth than Govt for 2021

The European Commission has green-lighted Malta's budget for 2021, noting that it was largely in line with Council recommendations made earlier this year, with most initiatives intended to supporting economic…

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Malta- Business, consumer confidence remain dim – CBM Report

Economic growth prospects remain dim according to the latest Sentiment Indicator surveyed by the European Commission and published by the Central Bank of Malta, possibly reflecting the rise in COVID-19…

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Europe’s economies race to open for Xmas – should they bother?

By Mark John (Reuters) Is the Christmas economy worth salvaging? Unless you're in retail, the answer is: Possibly not. Across Europe, governments have imposed lockdowns through November into early December…

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Coffee industry in Honduras hit badly due to Hurricane Eta

The devastation caused by Hurricane Eta earlier this month hit the Honduran coffee sector hard, causing farmers to lose tens of thousands of bags of beans that would normally be…

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Italian FIGC sells stake in media business for € 1.7 billion

Italy's top-flight soccer league Serie A on Thursday agreed to sell a stake in its media business to a private equity consortium for 1.7 billion euros as it seeks to prop up revenues hit by the COVID-19 pandemic. At…

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Germany’s partial lockdown is hitting skilled trades sector – ZDH

The COVID-19 pandemic and measures imposed by the government to slow the spread of the coronavirus are hurting the skilled trades sector, which expects sales to drop this year for…

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1 in 7 UK companies say at risk of collapse, ONS survey shows

Some 14% of British companies say they have low or no confidence they will survive the next three months, a survey published by the Office for National Statistics showed on…

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Libya’s NOC, Total discuss increasing production rates, expanding Total’s investments in Libya

Libya's National Oil Corporation (NOC) and France's Total discussed NOC's efforts to raise production capacity and increase production rates to the highest levels, as well as expanding investments of the…

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UPDATED: Italy to issue new stimulus package to help COVID-hit businesses – deputy EconMin

Italy's government is preparing a new 7 billion euro ($8.28 billion) stimulus package to help its coronavirus-battered business, Deputy Economy Minister Antonio Misiani said on Thursday. Italy, whose economy is…

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Oil prices ease as rising COVID-19 cases outweigh vaccine optimism

Oil futures eased on Thursday, surrendering some gains from the previous day as the surge in coronavirus cases and tighter economic restrictions around the globe stoked fears over slower fuel…

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Gold dips on firmer dollar, COVID-19 vaccine hopes

Gold fell on Thursday in early Asian trade as the dollar gained some ground and progress in COVID-19 vaccine development dented the precious metal's appeal. * Spot gold fell 0.21…

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Global luxury goods sales set for largest ever fall

Sales of luxury goods worldwide are set to fall by 23% to 217 billion euros ($258 billion) this year, their largest ever drop and first since 2009, due to the…

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European new car sales register drop in October – ACEA

European car registrations dropped in October after rising slightly a month earlier, industry data showed on Wednesday, as social restrictions to curb a second wave of coronavirus across Europe took…

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East Mediterranean is very important gas hub for future – Eni CEO

The East Mediterranean region is a very important gas hub for the future and for the diversification of supplies, the head of Italian energy group Eni said. Speaking on an…

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Covid-19 shakes up world’s most expensive city list

The world’s three most expensive cities are now Hong Kong, Zurich and Paris, according to a new cost of living report. Singapore and Osaka, which were equal first with Hong…

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Argentine Congress moves toward implementing wealth tax to fund COVID-19 aid

The lower house of Argentina's Congress on Wednesday approved a bill seeking to raise 300 billion pesos ($3.75 billion) through a tax on large fortunes to finance programs aimed at…

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Wirecard’s creditors claim at least 12.5 billion euros

Creditors of the collapsed German payments company Wirecard have made claims for at least 12.5 billion euros ($14.85 billion), a German court said on Wednesday. Wirecard, in a dramatic fall…

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American, British Airways, oneworld to trial COVID-19 tests

American Airlines, British Airways, and the oneworld alliance will launch a coronavirus testing trial this month aimed at convincing the U.S. and UK governments to introduce testing so that transatlantic…

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Bitcoin breaks $18,000 as rally powers on, all-time high in sight

Bitcoin broke through $18,000 on Wednesday to hit its highest since December 2017 extending its blistering 2020 rally driven by demand for its perceived quality as an inflation hedge and…

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Gold inches lower as COVID-19 vaccine optimism weighs on appeal

Gold prices edged lower on Wednesday due to optimism over a potential COVID-19 vaccine, but concerns over the economic impact from the resurgence of coronavirus cases in the United States…

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Oil mixed as big build in U.S. crude stockpiles raises spectre of supply glut

Oil prices were mixed on Wednesday as a bigger-than-expected build in U.S. crude stocks and weaker U.S. retail sales stoked fears over fuel demand, although hopes that OPEC and its…

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Malta Chamber and Malta Entertainment Industry and Arts Association reach cooperation agreement in creative sector

The Malta Chamber of Commerce, Enterprise and Industry and the Malta Entertainment Industry and Arts Association (MEIA) have signed a collaboration agreement, at Teatru Manoel on Thursday, in a shared…

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Companies reconsidering relationship with advisory firm FTI Consulting after “ethical red flags” raised

A number of internationally-conscious investment companies are understood to be reviewing their relationship with FTI Consulting, a US advisory firm. According to the Financial Times, this review originating followign reports…

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UK shopper numbers plunge as English lockdown makes impact

Total shopper numbers across British retail destinations plummeted 57.7% in the week to Nov. 14 year-on-year, reflecting the impact of England's second national lockdown, market researcher Springboard said on Monday.…

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Egypt agrees 132.8 mln euros in development funding from Germany in 2021

Egypt has agreed 132.8 million euros in funding from Germany for 11 development projects in 2021, its ministry of international cooperation said on Monday. The projects span across different fields…

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Greece misses surplus target, finances clobbered by COVID-19

Greece undershot its surplus targets for the first ten months of the year as the COVID-19 pandemic whittled down state finances. The country, which saw a quarter of its national…

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Australia’s economy on a ‘road to recovery’, says RBA’s Lowe

Australia's success in controlling the coronavirus has put the economy on a "road to recovery", the country's central bank governor said on Monday even as a new outbreak of COVID-19…

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German economy stagnating or shrinking amid second wave of virus – Bundesbank

The German economy is likely stagnating or contracting as measures taken at home and abroad to contain the second wave of the coronavirus pandemic hit leisure activities as well as…

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Germany hopes trade barriers will be dismantled under Biden

Germany hopes that trade barriers between the United States and Europe will be dismantled once the new administration under President-elect Joe Biden takes office, German Economy Minister Peter Altmaier said…

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Gold hits 1-week peak as softer dollar, worsening pandemic lift appeal

Gold prices touched a one-week high on Monday propped up by a weaker dollar, while mounting U.S. coronavirus cases escalated concerns of the pandemic's impact on economic recovery underpinning hopes…

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Oil climbs higher on China, Japan rebound, hopes of OPEC+ supply curb

Oil prices climbed on Monday, recouping some losses from the previous session as hopes that OPEC+ will hold current output curbs offset concerns about weaker fuel demand due to rising…

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Business failure rate in Ireland surprisingly low, but a surge is expected

For many businesses in Ireland, the recent imposition of a new round of strict measures to control the spread of coronavirus was seen as a step too far. Some firms,…

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Tech groups’ services could face bans if they breach rules -EU industry chief

Technology companies' services could be banned from the European market if they do not heed EU regulation, Europe's industry chief Thierry Breton told German weekly Welt am Sonntag, as the…

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Asia to form world’s biggest trade bloc, a China-backed group excluding U.S.

Fifteen Asia-Pacific economies were set to form the world's largest free trade bloc on Sunday, a China-backed deal that excludes the United States, which had left a rival Asia-Pacific grouping…

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Challenge begins for UK farmer to get Xmas turkeys on tables

Turkey farmer Tom Copas says he faces a challenge to bring over the seasonal staff he needs this Christmas to process his turkeys and then to meet a surge in…

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Singaporeans snap up properties during worst ever recession

Singaporean Jason Chen recently bought a S$1.7 million ($1.26 million) three-bedroom apartment in a swanky condominium, upgrading his home in the middle of the COVID-19 pandemic which has triggered the…

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Libyan oil production recovers faster than expected

Libyan oil production has now reached 1.215 million barrels per day (bpd), a Libyan oil source told Reuters on Friday, as the OPEC member's oil industry recovers faster than expected.…

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British retailers could shun N.Ireland after Brexit, logistics groups warn

British retailers and manufacturers could stop selling in Northern Ireland once the UK has finally left the European Union due to "overwhelming" customs demands and lack of border preparedness, industry…

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ECB’s De Cos says it will take time before COVID vaccine has positive impact on economy

It will take time before any COVID-19 vaccine has a positive impact on the economy, European Central Bank policymaker Pablo Hernandez de Cos said on Friday, stressing that bold economic…

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Oil falls on COVID-19 surge but on track for weekly gain

Oil prices fell on Friday, pressured by fears about a slow recovery in the global economy and fuel demand due to an accelerating rise in COVID-19 infections, but remained on…

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UK extends tax break for manufacturers to cushion COVID-19 hit

Britain's finance ministry said it would extend a tax break to stimulate investment in manufacturing by a year in an attempt to help companies weather the COVID-19 pandemic. The temporary…

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Malta’s Government & Chamber urge people and businesses to prepare for all scenarios of Brexit

Government and business leaders are urging people and businesses to prepare for all possible scenarios, in consideration that Brexit will impact all sectors. In a press event organised this afternoon,…

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Euro zone industry output unexpectedly slips in September

Euro zone industrial production unexpectedly declined in September, driven chiefly by a sharp fall in the output of durable consumer goods, sounding a negative note to a quarter that had…

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UK economy grows by monthly 1.1% in September, slower than expected

Britain's economy, which has struggled to maintain its recovery from its coronavirus lockdown crash, grew by a slower than expected 1.1% in September from August, even before the latest restrictions…

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