Economy - CDE News - The Dispatch

ECB policymaker says rates will rise ‘very soon’

FRANKFURT, May 14 (Reuters) - The European Central Bank (ECB) will likely decide at its next meeting to end its stimulus programme in July, and raise interest rates "very soon" after that,…

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Norway sovereign wealth fund CEO warns of rocky times

Norway's $1.2 trillion sovereign wealth fund, the world's largest, expects difficult market conditions in the time to come, affected by geopolitical events and inflation, its chief executive said on Tuesday. Inflation, already…

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British cost of living crisis to have severe impact on economic growth

The cost of living crisis in Britain will have a severe impact on economic growth this year but the Bank of England will still lift interest rates again next week,…

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UK executives expect high inflation to squeeze profits – Deloitte

More than seven out of 10 chief financial officers (CFOs) at Britain's biggest companies expect high inflation to reduce their profit margins, and few see the Bank of England getting…

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Bird flu, Ukraine war push egg prices higher worldwide

Severe outbreaks of bird flu in the United States and France are tightening global egg supplies and raising prices for the food staple as the war in Ukraine disrupts shipments to…

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Swedish inflation highest since early 1990s in March

STOCKHOLM, April 14 (Reuters) - Headline inflation hit its highest level in more than three decades in March as the war in Ukraine pushed up food and fuel prices, data showed on…

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UK growth stutters in February as cost-of-living squeeze looms

ritain's economy slowed more sharply than expected in February, reflecting a hit to car production from component shortages, storm disruption and reduced health spending as households braced for a tighter…

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Euro zone economy got March boost from reopening but prices soared -PMI

Euro zone business growth got a boost last month from the re-opening of economies following the Omicron coronavirus variant, according to a survey which however showed that soaring energy costs…

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Britain aligns with EU on delaying Basel bank capital rules

he Bank of England said that it planned to delay implementing a final set of post-financial crisis capital requirements for banks until January 2025, bringing Britain in line with the…

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Euro zone not facing stagflation risk: ECB’s de Guindos

Russia's war in Ukraine will dent euro zone growth but the block is still set to expand, even if the conflict escalates, European Central Bank Vice President Luis de Guindos said on Tuesday. "So,…

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Markets brace for heavy falls as Russia-Ukraine crisis escalates

Investors were bracing for a torrid day for Russian, Ukrainian and wider global markets w on Tuesday, after Vladimir Putin upped the ante in a crisis the West fears could…

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G20 to warn on spillover from monetary tightening

Emerging markets must brace for monetary tightening in the United States and Europe while central banks must be clearer in their policy communication to avoid confusion, financial leaders of the…

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Ukraine: clouds on the horizon for Europe’s economy

European Central Bank President Christine Lagarde has warned of "geopolitical clouds" over the European economy due to possible fall-out from further escalation of tensions between Russia and the West over Ukraine. From rising…

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Malta: Industrial production sees big drop in 2021

In December 2021, the total production generated by the Maltese manufacturing and energy industries went down by 6.6% from December 2020. The largest decrease was registered in the production of…

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Surging UK inflation erodes room for budget maneuvers

Britain's government looks firmly on track to borrow less this tax year than forecast but surging inflation will soon curb any leeway for finance minister Rishi Sunak who is under pressure to…

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Malta: Food continues to drive prices up

Inflation continued to increase in December, with fresh NSO data showing that the Retail Price Index reached 2.59 per cent, up from the 2.38 per cent in November 2021. The…

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The cost-of-living crisis will put more pressure on shoppers than COVID

by Kokho Jason Sit Senior Lecturer in Marketing, University of Portsmouth COVID drastically changed shopping habits. Lockdowns, isolation and illness led variously to panic buying, a surge in online deliveries,…

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World tourism inched back in 2021, still a fraction of pre-pandemic levels

The world tourism industry barely improved last year compared to 2020, with all indicators staying way below pre-pandemic levels and industry professionals not expecting a full recovery before 2024, the World Tourism Organization (UNWTO)…

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UK sees record job creation but inflation squeezes wages

British employers hired a record number of staff last month and labour shortages deepened - increasing the chance that the Bank of England will raise interest rates again next month…

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With Omicron, global economy spots chance to push past COVID

With Omicron, global economy spots chance to push past COVIDGovernments worldwide are easing quarantine rules, reviewing coronavirus curbs and dialling back pandemic-era emergency support as they bid to launch their…

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Germany needs greater immigration to avoid labour shortages – minister

Germany will need increased immigration to prevent severe labour shortages from undermining productivity and endangering a successful energy transition, its economy minister said as Europe's largest economy faces a demographic…

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New Bundesbank chief takes up old inflation battle at ECB

New German central bank chief Joachim Nagel warned about high inflation in his inaugural speech on Tuesday, in a sign he would continue his predecessor's fight to rein in the European Central…

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Trust ECB to stabilise inflation, Lagarde tells citizens

Euro zone citizens worried about rising prices can trust the European Central Bank to stabilise inflation, ECB President Christine Lagarde said on Tuesday. "We understand that rising prices are a concern for many people, and…

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German labour market remains resilient despite rising COVID cases

German unemployment fell more than expected in December, data showed on Tuesday, in a further sign that the labour market in Europe's largest economy remains resilient despite rising COVID-19 infections. The Labour Office said the number…

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Malta: Services industry leads recovery in Q3

The Maltese economy experienced a strong recovery over the Summer months, despite growth falling slightly short when compared to the drop experienced during the same timeframe last year. During the…

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Joint Malta Chamber and CBM seminar discusses the permanency of the current inflationary trends

Inflation has become extremely topical after many years of price stability within the Euro zone. “The bottlenecks created by the deep recession caused by the pandemic and the relatively quick…

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One taxonomy to rule them all? Investors face myriad of green investing rules

After years of complaints that there were no rules to determine what constitutes a "sustainable" investment, investors now fret there will soon be too many to navigate easily. More than 30 taxonomies…

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Malta Chamber welcomes PN Leader’s positive proposals, calls for a long-term, sustainable fiscal vision

In a statement on Tuesday afternoon, The Malta Chamber welcomed the fact that several of the measures it proposed were taken on board by the Leader of Opposition in his…

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Survey finds Malta’s attractiveness to foreign investors declines 40% in last two years

The annual attractiveness survey carried out by EY Malta revealed that the number of investors who find the country attractive from a business viewpoint collapsed by 25% compared to last…

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IMF cuts global growth outlook as supply bottlenecks hobble pandemic recovery

Persistent supply chain disruptions and pricing pressures are constraining the global economy's recovery from the COVID-19 pandemic, the International Monetary Fund said on Tuesday as it cut growth outlooks for the United…

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Growth is biggest challenge for emerging economies -World Bank chief economist

Lack of growth is the biggest economic challenge facing developing economies, the World Bank's chief economist said on Monday. Economic growth was essential for poverty reduction, as well as creating government revenues to use for fiscal space, social…

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UPDATE – Crude oil price jumps on global energy crunch

LONDON, Oct 11 (Reuters) - Oil prices rose more than 2% on Monday, extending gains as an energy crisis gripping major economies shows no sign of easing amid a pick…

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FATF Executive Secretary resigns

David Lewis, the executive secretary of the Financial Action Task Force (FATF) was reported to have resigned his position. According to various reports, this raised questions about the ability of…

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End of government assistance brings uncertainty for UK jobs and economy

More than a million British workers face an uncertain future this week as the UK becomes the world's first big economy to wind up its COVID-19 jobs support scheme. The…

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Malta, Croatia only two EU countries to experience negative growth in Q2

In the second quarter of 2021, seasonally adjusted GDP increased by 2.2% in the euro area and by 2.1% in the EU compared with the previous quarter, according to an…

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German unemployment falls further in August as recovery continues

German unemployment fell more than expected in August, official figures showed on Tuesday, as a recovery continues in Europe's largest economy despite rising COVID-19 figures. The Labour Office said the…

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Turkey sees more than 8% economic growth in 2021 – finance minister

Turkish Finance Minister Lutfi Elvan said on Friday he expected Turkey's economy to grow more than 8% in 2021, and added that he expected the current account deficit to be…

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Central Bank revises 2021 growth projection for Maltese economy upwards

The Central Bank of Malta said today that it expects that Malta's gross domestic product (GDP) will grow by 5.1% in 2021, by 5.9% in 2022, and by 4.7% in…

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EU approves new financing tool for European Guarantee Fund for virus-hit companies

BRUSSELS (Reuters) - The European Guarantee Fund, which is managed by the Investment Bank Group, on Monday secured EU approval to provide guarantees on synthetic securitisation tranches to help companies…

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France braces for slump in wine output on weather woes

PARIS, Aug 6 (Reuters) - France's wine production could drop by as much as 30% this year to its lowest level in decades after vineyards were hit by spring frosts…

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Malta: IMF calls for tapering of business support measures

Most of the Covid-19 support measures are set to expire by the end of 2021, and according to a report by the International Monetary Fund, as economic growth gains momentum,…

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IMF urges countries to shift from economic rescue to reforms

The International Monetary Fund's No. 2 official on Tuesday called on countries to pivot from saving their economies from collapse to reviving growth-oriented policy reforms to boost their recovery prospects and make…

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G20 signs off on tax crackdown, warns on virus variants

VENICE, Italy, July 10 (Reuters) - Finance chiefs of the G20 large economies endorsed a landmark move to stop multinationals shifting profits to low-tax havens at talks on Saturday where they will also…

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The great exit: central banks line up to dial back emergency stimulus

The U.S. Federal Reserve is projecting a faster timetable for interest rate rises and Norway's central bank is preparing markets for four rate hikes by mid-2022, the latest signs policymakers are preparing…

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Global corporate tax overhaul faces rocky road to completion

A long road strewn with potential political pitfalls lies ahead for countries seeking to end a race to the bottom on international corporate tax, even though 130 of them have…

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Euro zone inflation jumps past ECB target in May

Euro zone inflation surged past the European Central Bank's elusive target in May, heightening a communications challenge for policymakers who will happily live with higher prices for now but may face a…

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UK risks Italy-style decline as economic challenges mount – think-tank

Britain faces a decade of major public policy challenges that could reduce economic performance to nearer that of struggling Italy than Germany, Europe's powerhouse, a think-tank said on Tuesday. The…

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GDP down by 0.6% and employment down by 0.3% in the euro area

In the first quarter of 2021, seasonally adjusted GDP decreased by 0.6% in the euro area and by 0.4% in the EU, compared with the previous quarter, according to a…

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Tunisia’s economy shrank 3% in the first quarter of 2021

Tunisia's gross domestic product shrank 3% in the first quarter of 2021 from a year ago, the State Statistics Institute said on Saturday, showing the impact of the coronavirus pandemic…

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Time to roll up sleeves, EU says in Spring Forecast

The European Commission is forecasting a solid recovery around the continent, with EU economy expanding by 4.2% in 2021 and by 4.4% in 2022. The euro area economy is forecast…

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UPDATE – Time for change: Queen sets out UK Johnson’s post-pandemic agenda

British Prime Minister Boris Johnson promised to tackle inequality and "level up" the country on Tuesday with a post-pandemic raft of laws presented by Queen Elizabeth to parliament. In a ceremony stripped…

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Many Republican voters agree with Biden – ‘trickle-down economics’ has failed

April 29 (Reuters) - A majority of Americans support measures favored by President Joe Biden to substantially redistribute U.S. wealth, according to an Ipsos poll for Reuters released on Thursday,…

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Oil holds near $67, heads for weekly gain on demand hopes

LONDON, April 16 (Reuters) - Oil held near $67 a barrel on Friday and was heading for a weekly gain as a stronger demand outlook and signs of economic recovery in China…

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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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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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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 rebounds on robust economic data

Oil prices rose on Tuesday supported by strong economic data from China and the United States, recouping some of the losses from the previous session due to rising OPEC+ supply…

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