09

Aug

Senate bill would hand bitcoin, ether oversight to commodities regulator

A new bill introduced in the U.S. Senate would make the Commodity Futures Trading Commission (CFTC) the direct regulator of the biggest cryptocurrencies. The measure, introduced by the top Democrat and Republican on the Senate Agriculture Committee, would give the derivatives regulator exclusive…

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09

Aug

Indonesia says Tesla strikes $5 billion deal to buy nickel products – media

U.S. carmaker Tesla has signed contracts worth about $5 billion to buy materials for their batteries from nickel processing companies in Indonesia, a senior cabinet minister told CNBC Indonesia. Southeast Asia's biggest economy has been trying to get Tesla to set up…

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06

Aug

UPDATE – Suspect in fatal hit-and-run Żejtun case arrested / Malta News Briefing – Saturday 6 August 2022

Update - 1600h - A 21-year-old Birżebbuġa resident suspected to have been the driver involved in a fatal hit-and-run on Friday has been arrested A man has been arrested in…

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05

Aug

Hili Properties plc acquires majority shareholding in prestigious Romania office complex

Hili Properties plc, the strategic real estate investment subsidiary of Hili Ventures, has acquired a 75% shareholding in Baneasa Real Estate SRL, the owner of the imposing Miro office building…

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02

Aug

Ferrari lifts full-year forecasts after strong Q2 results, record orders

Sports car maker Ferrari raised its forecasts for full-year revenue and core profit on Tuesday after posting what it described as record results in the second quarter and saying its order book…

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02

Aug

Uber turns cash flow positive for the first time, shares surge

Uber Technologies Inc on Tuesday reported positive quarterly cash flow for the first time ever and forecast third-quarter operating profit above estimates, betting on steady demand for its ride-hailing and food-delivery services.…

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12

Jul

PepsiCo says snacks, soft drinks could get pricier as demand remains strong

PepsiCo Inc raised its full-year revenue forecast on Tuesday and said it could increase prices further in the coming months, with the beverage giant seeing little impact on demand for…

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12

Jul

Sanctions-hit firms may get 500,000 euros state aid under EU plans

EU companies hurt by sanctions imposed on Russia over Ukraine may see a 25% rise in state aid to 500,000 euros ($504,050) to help them cope with the invasion's impact…

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21

Jun

French spirits industry sees inflation giving 2022 bitter taste

The French spirits industry faces a difficult year due to geopolitical constraints, soaring inflation and COVID-19 restrictions in China, after sales staged a partial recovery in 2021, industry group Federation…

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14

Jun

MDB launches €150 million emergency liquidity support to businesses in response to the Ukraine crisis

The Liquidity Support Guarantee Scheme is targeted towards all impacted business, with specific measures aimed at fuel and oil importers The Malta Development Bank (MDB) has launched the Liquidity Support…

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13

Jun

Global advertising to grow by 8.4% this year -report

June 13 (Reuters) - The global advertising industry is expected to grow 8.4% this year, despite ongoing geopolitical situations around the world and fears of a recession, a report on the sector…

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31

May

Electric vehicles not the only way to meet CO2 targets, Italy car lobby says

lectric vehicles are not the only effective route to reducing carbon emissions produced by the car industry, the head of Italy's automotive lobby said on Tuesday. Other technologies could help…

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28

Apr

Browns Pharma reports 71% increase in profits

Brown’s Pharma Holdings plc has reported a 71.30% increase in its profits, according to the consolidated financial statements for the year ended 31st December 2021. The net profit for the…

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26

Apr

BMW, Audi suspend shipments by train to China due to Ukraine war

BMW and Volkswagen's premium Audi brand have suspended shipments of cars by rail from Germany to China following the war in Ukraine, the German carmakers said on Tuesday. While both carmakers…

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26

Apr

Primark to raise prices as cost pressures mount

Clothing chain Primark is set to raise prices due to severe inflationary pressures, its parent company Associated British Foods said on Tuesday, as it also warned on margins at its food businesses.…

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26

Apr

Musk gets Twitter for $44 billion, to cheers and fears of ‘free speech’ plan

Elon Musk clinched a deal to buy Twitter Inc for $44 billion cash on Monday in a transaction that will shift control of the social media platform populated by millions of users and global…

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19

Apr

IZI Group’s €30 Million Bond Issue Fully Subscribed

In less than 3 months the National Lottery of Malta will experience a major transformation, when on 5th July 2022, Maltese-owned National Lottery plc, a fully-owned subsidiary of IZI Group…

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19

Apr

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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19

Apr

Oil rises as Libya outage adds to supply woes, Shanghai prepares to reopen

Oil prices rose on Tuesday as investors fretted over tight global supply after Libya was forced to halt some exports and as factories in Shanghai prepared to reopen post a…

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14

Apr

Esports: how the struggling hospitality industry could capitalise on this massive business

by Jamie Thompson, Lecturer in Marketing, Edinburgh Napier University and Babak Taheri, Professor of Marketing, Nottingham Trent University During the pandemic, the sporting world ground to a halt. Global events…

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14

Apr

Elon Musk makes offer to buy Twitter for $41.39 billion

Elon Musk has made an offer to buy Twitter for $41.39 billion. The billionaire Tesla and SpaceX CEO revealed in a regulatory filing that he launched a takeover bid of Twitter just…

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12

Apr

EasyJet says high crew absence not yet improving

EasyJet said it was yet to see an easing of crew sickness that is causing it to cancel flights and disrupt the Easter plans of thousands of travellers, but it…

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12

Apr

Macron-Le Pen duel in French runoff could spark tension in markets, says analyst

Incumbent French President Emmanuel Macron’s lead against Marine Le Pen in the first round of the election came as a relief for foreign investors who have been facing “tension” due…

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12

Apr

Cryptoverse: 10 billion reasons bitcoin could become a reserve currency

A crypto platform's pledge to amass $10 billion worth of bitcoin to back its own "stablecoin" is firing up the market. It's part of a wider movement to crown bitcoin…

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05

Apr

Banks tiptoe into EU tussle over reining in foreign lenders

Banks have begun quietly trying to persuade the European Union to tone down proposals to toughen scrutiny of non-EU lenders to ensure the planned measures don't also curb companies' access to international finance. Surprise EU proposals to…

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05

Apr

Telecom Italia and KKR deadlocked over takeover approach

The chances of U.S. fund KKR pushing ahead with a firm bid for Telecom Italia (TIM) appeared to fade further on Tuesday, with the two sides deadlocked over access to…

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05

Apr

Elon Musk becomes Twitter’s biggest shareholder with $2.9 billion stock purchase

Tech billionaire Elon Musk has purchased a huge $3 billion stake in Twitter. 'The Guardian' reports that Musk had indicated interest in building his own social media platform just last week. According to filings made…

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05

Apr

Ryanair expects summer fares to be 5-10% higher than in 2019

Ryanair expects average air fares during this year's summer peak season to be 5-10% higher than pre-pandemic prices in the same period of 2019, Group Chief Executive Michael O'Leary was quoted…

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29

Mar

Euro jumps after Ukraine offers neutral status, yen rebounds

The euro jumped on Tuesday after some progress was reported in peace talks between Russia and Ukraine. Russia promised at the talks in Istanbul to drastically scale down its military operations around Kyiv and the…

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29

Mar

Cryptoverse: Buoyant bitcoin helps market cruise past $2 trillion

As a bleak first quarter draws to a close, crypto seems to have the wind in its sails. It has pushed through the $2 trillion barrier and is proving surprisingly…

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29

Mar

Barclays shares fall after top investor offloads $1.2 billion stake

Shares in Barclays fell as much as 6% in early trading on Tuesday, after one of its top investors offloaded a $1.2 billion chunk of stock in the lender at a discount…

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22

Mar

BOV announces €80m profit but no dividend for shareholders

The Bank of Valletta Group reported a profit before tax of €80.7 million for the financial year ending 31 December 2021. The Group’s results were announced by BOV Chairman Dr…

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15

Mar

EU regulators raid auto companies in several EU countries 

EU antitrust regulators on Tuesday raided several companies and associations in the automotive industry in several EU countries, saying that they may have breached the bloc's cartel rules. The European…

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15

Mar

Oil price drops to two-week low as ceasefire talks continue

Oil prices extended losses on Tuesday, sliding to a two-week low as ceasefire talks between Russia and Ukraine eased fears of further supply disruptions and surging COVID-19 cases in China fuelled…

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15

Mar

MEA Presents Blueprint for Business and Green Growth to the President of Malta

Over the past months, the Malta Employers' Association (MEA) stepped up its efforts to offer leadership, guidance and support to the business community on Environmental, Social and Governance (ESG) issues…

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09

Mar

IZI Finance plc Appoints Board Of Directors

IZI FINANCE PLC, the finance company of IZI Group p.l.c and its subsidiaries, today announced the appointment of its Board of Directors. The Board will be chaired by Dr. Christian…

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08

Mar

Ferrari suspends production of vehicles for Russian market

Luxury carmaker Ferrari said on Tuesday it would suspend exports to Russia due to Moscow's invasion of Ukraine. "Given the ongoing situation Ferrari has taken the decision to suspend the…

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24

Feb

Malta: Economic sentiment improves in services and construction, declines among retailers, consumers – CBM

Confidence improved in services, construction and industry but declined in the retail sector and among consumers, the Central Bank of Malta said, quoting a survey carried out by the European…

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22

Feb

Express Trailers Plants 270 Trees, A Tree For Every Employee

Express Trailers has planted 270 saplings in Burmarrad’s Santa Katarina Valley, an initiative made possible following an agreement with Parks Malta who supplied the 270 saplings – representing the 270…

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22

Feb

HSBC Malta reports €26.9m profit

Reported profit before tax for the year ended 31 December 2021 was €26.9m. This represents an increase of €16.4m or 157% compared to prior year. Adjusted profit before tax of…

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15

Feb

Louis Vuitton to raise some prices due to rising costs

LVMH's top fashion brand Louis Vuitton says it will raise prices for some products globally on February 16 because of rising costs and inflation. A spokesperson for the French luxury…

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15

Feb

70% of Air Malta employees apply for Voluntary Employees Transfer Scheme

Air Malta said that the total number of applications received for the Voluntary Employees Transfer Scheme which closed on11 February 2022 for the rightsizing of the Company, amounted to 571…

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15

Feb

Leading Global Lotteries Tech Provider IGT Selected As National Lottery Technology Provider

National Lottery plc, a fully owned subsidiary of IZI Group plc and the Preferred Proponent for the National Lottery Concession in Malta, have announced that subsidiaries of the leading technology…

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15

Feb

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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08

Feb

MDB, BOV launch €15 million EU-funded scheme for students furthering their studies

Following the issue by the Malta Development Bank of an open call for expression of interest, Bank of Valletta has been selected to intermediate the Further Studies Made Affordable plus…

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08

Feb

Oil slips from 7-year highs ahead of more U.S.-Iran talks

Oil prices eased on Tuesday ahead of the resumption of indirect talks between the United States and Iran which may revive a nuclear deal that could lead to the removal…

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01

Feb

Some cars’ systems designed to keep drivers’ eyes on the road fail -AAA study

Some vehicles equipped with automated assistance technology aimed at keeping drivers alert and watching the road fail at that job, an American Automobile Association study found on Tuesday. The AAA…

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01

Feb

Malta Development Bank extends Covid-19 Guarantee Scheme until June 2022

The Malta Development Bank has announced the extension of its successful Covid-19 Guarantee Scheme (CGS) until June 2022. In light of the observed economic recovery and unfolding Covid-19 developments, in…

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25

Jan

Oil prices rise as geopolitical tensions grow

Oil prices climbed on Tuesday, regaining some of the ground lost in the previous day's sharp losses, on concerns over possible supply disruptions amid rising geopolitical tensions in both Eastern…

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25

Jan

Shipping group MSC, Lufthansa offer to buy Alitalia successor

Swiss-based shipping group MSC and German carrier Lufthansa want to buy the majority of Alitalia successor ITA Airways and have asked for an exclusivity period of 90 days to study…

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25

Jan

Sales of Hublot, Bulgari watches top pre-pandemic levels

Luxury watch brands Hublot and Bulgari have pushed sales above 2019 levels in the past year and more growth is expected this year on strong U.S. demand, company executives told…

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25

Jan

Malta: Business activity receded in December, CBM report shows

The Central Bank of Malta said on Tuesday that annual growth in business activity receded somewhat from recent highs but nevertheless remained strong from a historical perspective as economic activity continued…

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25

Jan

€12 million SME facility in Ħal Far to offer new industrial space

​A significant €12 million will be invested in a new facility at Ħal Far for small and medium-sized businesses, aimed at addressing a major challenge SMEs have been facing, which…

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23

Jan

Binance abandoned Malta’s plans as founder grew nervous of country’s stringent AML protocols – Reuters report

ATTARD, Malta, Jan 21 (Reuters) - In the courtyard of a secluded limestone palace, Malta's political elite welcomed a guest: Changpeng Zhao, chief executive of Binance, the world's largest cryptocurrency exchange. It…

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18

Jan

Hugo Boss exceeds 2021 sales target after strong Q4

Hugo Boss said on Tuesday that it had exceeded its full year sales targets after fourth quarter earnings helped propel the German fashion house back to nearly pre-pandemic levels. The company said…

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18

Jan

Chocolate-maker Lindt sees slower growth after bottlenecks bite

Swiss chocolate maker Lindt & Spruengli expects sales of its upmarket chocolates to grow less in 2022 than last year, it said on Tuesday, and blamed supply chain bottlenecks for a slowdown…

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18

Jan

Prada’s 2021 sales bounce back above pre-pandemic levels

Sales at Italian fashion group Prada bounced back sharply in 2021 as pent-up demand for luxury handbags and clothes helped push revenues above pre-pandemic levels, the company said on Tuesday. In an…

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