Business

Samsung to invest $206 billion by 2023

Samsung will invest $206 billion in the next three years to expand its footprint in biopharmaceuticals, artificial intelligence, semiconductors and robotics in the post-pandemic era. Flora Bradley-Watson reports. Samsung announced on…

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Oil rises as full U.S. clearance for COVID-19 vaccine stokes demand hopes

Oil prices rose on Tuesday after the U.S. drug regulator granted full approval to the Pfizer Inc/BioNTech SE COVID-19 vaccine, stoking investor hopes that higher fuel demand would follow a potential…

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Investors step back from risk amid worries over China data, Afghanistan

nvestors generally shied away from risk Monday, as turmoil in Afghanistan, fresh concerns about an economic slowdown in China and the spreading coronavirus Delta variant put the brakes on last week's…

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Insurers worry about COVID-19 discrimination claims as workers return to desks

Liability insurers on both sides of the Atlantic are scaling back the cover they offer companies ahead of an expected wave of discrimination claims as employers call staff back to…

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Restrictions in public events eased further / Malta News Briefing – Friday 6 August 2021

Latest Update- News Portal Briefing Times of Malta reports that traffic accidents increased by almost 60 per cent in the second quarter of 2021, new data has shown, potentially reflecting…

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Toyota, Honda beat profit estimates but warn of extended chip crunch

Toyota Motor Corp posted record quarterly earnings and Honda Motor Co raised its annual profit forecast on Wednesday as post-lockdown sales surge, but the pair joined other automakers in warning that…

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Euro zone business surged in July but price pressures and COVID weigh

Euro zone business activity roared in July, expanding at its fastest pace in 15 years, as the lifting of more coronavirus restrictions and an accelerated vaccine drive injected life into…

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Baffled investors fear nothing’s off limits in China regulatory crackdown

Bewildered investors in China's tech sector scrambled once again from regulators on Tuesday, fearing that a state media story that likened internet gaming to opium signals a new front in the barrage…

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Malta: Active business units increase to 53,348

Provisional figures for 2020 show that there were 53,348 active business units in Malta, an increase of 4.6 per cent, or 2,345 active business units, over 2019, the NSO said…

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Oil prices slip, rebound runs out of steam on demand worries

Crude oil prices reversed course after an early bounce on Tuesday, as concerns over coronavirus curbs combined with slowing factory activity in key markets weighed on sentiment. Brent crude oil futures shed 5 cents,…

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McDonald’s big sales growth expected as worker crunch looms

McDonald's BTS celebrity meals and crispy chicken sandwiches are expected to fuel a U.S. sales increase of 24% when the company reports second-quarter earnings on Wednesday, but analysts are eyeing…

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Armani bounces back from pandemic as sales rise 34% in first half

Sales at Giorgio Armani jumped 34% in the first half of 2021 as business in China and the United States helped the Italian fashion group bounce back, although it said it could…

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BOV’s Balluta and Mqabba branches closed off after Covid-19 cases

Bank of Valletta has closed off temporarily its Balluta and Mqabba Branches from today, Thursday 22nd July until further notice, after a staff member tested positive for COVID-19 in both…

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Nike loses fight against EU probe into Dutch tax deal

U.S. sportswear maker Nike on Wednesday lost its fight to stop a probe into its Dutch tax affairs, as Europe's second-highest court backed an EU investigation opened two years ago. The EU…

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International General Insurance Set Up in Malta To Access Europe

International General Insurance Company (Europe) SE (“IGI Europe”), a subsidiary of Bermuda-based International General Insurance Co. Ltd., has been granted licensing by the Malta Financial Services Authority (“MFSA”) and is…

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Banks push FTSE 100 higher after BoE scraps dividend curbs

London's FTSE 100 rose on Tuesday as heavyweight banks jumped after the Bank of England scrapped dividend curbs, but worries about rising coronavirus infections capped gains. Banks added 2%, the…

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PepsiCo raises full-year profit forecast as soft drinks demand jumps

PepsiCo Inc raised its full-year earnings forecast on Tuesday, betting on accelerating demand for its sodas in theaters, restaurants and stadiums as they pull back crowds following the easing of…

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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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European shares muted after three days of gains

European stocks were off to a muted start on Tuesday following three sessions of gains as gloomy trading in Asia and an unexpected drop in German industrial orders offset a jump in commodity…

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Oil price falls on rising COVID-19 cases, ahead of OPEC+ talks

Oil prices fell 2% to a one-week low on Monday after hitting their highest since 2018 earlier in the session, as a spike in COVID-19 cases in Asia and Europe put…

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Oil rises on optimism of quick recovery in global demand

Crude oil prices rose on Tuesday, with Brent hitting $75 a barrel for the first time since April 2019, as investors remained bullish about a quick recovery in global oil demand and as concerns…

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Deal reached on EU fund to help regions and businesses adapt to Brexit

EU legislators reached an agreement on Thursday on the 5 billion euro Brexit Adjustment Reserve, paving the way for a first payment by December. With a budget of 5 billion…

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British ‘Treasure Island’ tax havens face a tempest

Britain's exotic network of "Treasure Island" tax havens could be facing the biggest threat to its existence in half a century after the United States and its allies pledged to squeeze more tax out of…

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Rick Hunkin re-elected MBA Chairman

Rick Hunkin, Chief Executive Officer of Bank of Valletta, has been re-elected Chairman of the Malta Bankers’ Association (MBA) for the coming year. Rick Hunkin thanked the Association’s members for…

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Balancing Sustainable Economic Growth with Quality of Life – A National Challenge

MEA launches National Conference Economic growth in Malta in pre-pandemic days has been significant and since accession into the European Union, the country has not only topped growth charts but…

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18

May

Italy’s Valentino bans fur and focuses on its main brand

MILAN, May 18 (Reuters) - Italian luxury group Valentino said on Tuesday it would stop using fur from next year and would focus on its main, eponymous brand, ditching its…

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European Commission proposes new, ambitious business tax agenda

The European Commission has today adopted a Communication on Business Taxation for the 21st century to promote a robust, efficient and fair business tax system in the European Union. It sets out…

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Tech.mt extends its commitment to MEA’s online toolbox developed for the business community

Tech.mt, a private-public partnership between the Government of Malta and the Malta Chamber of Commerce, Enterprise and Industry, and the Malta Employers Association (MEA) have signed a cooperative agreement, strengthening…

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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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A third of euro zone corporate loans exposed to climate hazards: ECB

Euro zone banks face potential climate hazards such as floods and droughts on up to a third of their loans to companies, with lenders in Greece, Portugal and Spain among…

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Russia should consider extra taxes to tackle corporate ‘greed’, says PM

Russia should impose extra taxes or other penalties on Russian companies that show "greed" by shifting profits abroad but such revenue raising measures should be balanced to avoid discouraging business,…

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SME Chamber expresses concern over the hefty increases in import costs

The Malta Chamber of SMEs has highlighted the recent increases in the cost of importation, particularly on products originating from the Far East and Turkey. In a statement, the SME…

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Job candidates should not be charged fees, says Malta Chamber

The newly launched Employment Agencies Business Section within The Malta Chamber of Commerce, Enterprise and Industry has strongly condemned the practice of levying fees from candidates looking for employment. Section…

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29

Apr

STMicroelectronics reports stronger profits

The profits announced by STMicroelectronics NV in the first quarter were higher than previous estimates of profits. The company reported profits of 39 cents per share, 17 cents higher than…

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Volkswagen plans renewable investments in CO2 reduction push

Volkswagen plans to invest about 40 million euros ($48 million) in European wind and solar projects by 2025 as part of a push to become carbon neutral, the head of the…

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Pope issues new anti-corruption decree for Vatican managers, including cardinals

Pope Francis, in his latest move to fight corruption in the Vatican, on Thursday issued a new decree mandating full economic disclosure and controls for managers, including cardinals. The decree says…

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Puma reports strong sales despite port congestion, politics

BERLIN, April 28 (Reuters) - German sportswear company Puma reported a 26% jump in first-quarter sales on Wednesday despite ongoing coronavirus lockdowns, supply chain issues and consumer backlash facing Western…

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Evolution Gaming tops forecast as pandemic boosts online casino games

STOCKHOLM, April 27 (Reuters) - Sweden's Evolution Gaming Group beat expectations with a 150% jump in first-quarter core earnings as pandemic lockdowns boosted demand for online casino games, particularly in…

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Alitalia unable to pay April salaries

The Italian airline's troubles seem to be able to see no respite, with the company warning that it will not be able to pay its monthly wages to its workers…

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Toyota’s acquisition of Lyft’s self-driving unit bolsters its automation ambitions

Toyota Motor Corp will acquire Lyft Inc's self-driving technology unit for $550 million, the companies said, as the Japanese firm steps up its automation ambitions with the newly created Woven Planet…

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Four persons die of Covid-19 / Malta News Briefing – Saturday 17 April 2021

Updated 1250 Covid-19: Coronavirus cases have increased after the dip of the past few days, reaching 67 on Saturday. Health authorities reported 38 recoveries. Four people died, including three men…

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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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European stocks reach record levels as global recovery optimism improves

Europe's benchmark equity index hit a record high on Tuesday, recovering all of its pandemic-driven losses as investors bet on a speedy global economic recovery, spurred by bumper stimulus spending and…

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Persons looking for a job increase by 2,199 in a year – NSO

The number of persons looking for a job has increased by 2,199 in just a year, data published by the NSO has shown. This means that the number of the…

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EasyJet CEO criticises testing requirements in Britain’s travel restart plan

LONDON, April 6 (Reuters) - The chief executive of British airline easyJet criticised some of the government's plans to restart travel, saying COVID-19 tests should not be required for passengers…

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‘Stay out of politics,’ Republican leader McConnell tells U.S. CEOs, warns of ‘consequences’

WASHINGTON, April 5 (Reuters) - U.S. Senate Republican Leader Mitch McConnell lashed out at corporate America on Monday, warning CEOs to stay out of the debate over a new voting…

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70% of MSPs report increased revenue from remote working

As organizations scrambled to move their teams to remote working, and as some industries were being decimated by the recession that came along with the pandemic, other sectors shifted gears…

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Euro set for biggest monthly drop since mid-2019 on economy fear

The euro languished below $1.18 on Monday as the prospect of tougher coronavirus curbs in France and Germany weighed on the short-term outlook for the European economy. The common currency is headed for…

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MDB and MEA reach agreement to collaborate further for the benefit of local businesses

The Malta Development Bank (MDB) and the Malta Employers Association (MEA) have signed a Memorandum of Understanding strengthening the relationship between the two institutions and allowing the two sides to…

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Malta’s Government clarifies list of outlets to shut down until April 11

Following last Wednesday's announcement of further restrictive measures to combat the spread of Covid-19 in Malta, Government has published a legal notice clarifying the outlets and services which have been…

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10

Mar

Top 3 Travel Group announces – FCM unveils bold new brand identity and signals game-changing tech offering

A rapidly evolving business travel landscape has been the catalyst for award-winning global travel management company FCM to transform its brand identity and take a fresh approach to developing a…

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Wage supplement for hardest-hit businesses to be extended till end of year

Government has announced the extension of the wage supplement until the end of the year, arguing that such a move was required to ensure a strong economic recovery and safeguarding…

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345 new cases of Covid-19: Malta News Briefing – Saturday 6 March 2021

Updated 1235 - Covid-19 Update Health authorities reported the second highest ever daily count of Covid-19 cases, 345. With 193 patients recovering, the number of active cases continues to edge…

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Restaurants to close from tomorrow- Malta News Briefing – Thursday 4 March 2021

Latest Update- News Portal Briefing Times of Malta reports that the PN wants independent inquiry into vaccine roll out. MaltaToday reports that student organisations have called on the Junior College…

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Maltese Editors’ Perspectives

The Times of Malta dissects the newly-launched MFA football strategy, arguing that it is time for the Malta FA to step up its efforts and to ensure that its clubs…

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MEA Survey results: Recovery will be slower than anticipated; employment level is stable but dependent on extended fiscal stimulus

Job retention remained strong despite the country approaching twelve months of restrictions caused by an ongoing pandemic and 76% of businesses plan to keep their workforce for the coming three…

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Malta News Briefing – Friday 19 February 2021

Updated 1745 News Portal Update Times of Malta reports that the PN will not take action against Simon Busuttil over Egrant MaltaToday reports that UHM ordered industrial action against workers…

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