Business

EU awaits U.S. trade chief for real tariff talks to start

The European Union has had positive, early contact with the Biden administration on trade, but will need to wait for a new U.S. trade representative to be in place for…

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Oil price rises slightly after OPEC+ confirms cuts

Oil ticked up on Thursday on strong U.S. economic data, falling inventories and the OPEC+ decision to stick to its output cuts, but a stronger U.S. dollar limited the gains. Brent…

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GDP down by 0.7% in the euro area and by 0.5% in the EU

In the fourth quarter 2020, seasonally adjusted GDP decreased by 0.7% in the euro area and by 0.5% in the EU, compared with the previous quarter, according to a preliminary…

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Increase in business registrations and bankruptcies in the EU

In the third quarter of 2020, the quarter when COVID-19 containment measures were somewhat relaxed in many Member States, the number of registrations of new businesses in the EU saw…

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Loss-making Inter Milan fail in talks with potential new investors

Inter Milan's Chinese owner will look for other investors in the loss-making Italian Serie A team after exclusive talks with private equity firm BC Partners ended without a deal, two…

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China’s New Year travel restrictions slow, but don’t stop oil demand recovery

China's efforts to keep people from travelling for Chinese New Year because of several clusters of COVID-19 infections are forcing analysts to revise first-quarter fuel demand estimates, but are not…

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France economy slumps less than expected in fourth quarter despite lockdown

The French economy contracted much less than expected at the end of last year, official data released on Friday showed, as the growing prospect of a new lockdown wipes out hopes for…

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Small investors behind surge in GameStop and other shares hit by restrictions

An army of retail investors that has routed Wall Street's professionals in recent days was dealt a blow on Thursday, after online brokerages restricted purchases of red-hot GameStop and other stocks that…

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Oil steady as supply cuts offset demand worries on stalled vaccine rollouts

Oil prices were steady on Friday, sticking to ranges seen over the past three weeks, as investors looked for signs of changing supply and demand fundamentals. A cut in Saudi Arabia's oil supply…

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Epidemics lead world’s biggest short-term risks: World Economic Forum

Infectious diseases and livelihood crises led the rankings of risks expected to pose a critical threat to the world in the next two years, according to a survey of more than 650 World Economic Forum (WEF) members from…

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German court halts criminal proceedings against former VW CEO

A German court in Braunschweig, Germany, said on Friday it had halted criminal proceedings against former Volkswagen CEO Martin Winterkorn for alleged market manipulation as part of the carmaker's emissions…

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Business First increases its client contact by 367% in 2020

During 2020, Business First made contact with 158,193 clients, with 3,042 client contacts per week. When compared to 2019 and 2018, there was a 367% and 427% increase respectively in…

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UK introduces new business support measures

Britain on Tuesday offered a 4.6 billion pound support package for businesses struggling to cope with a third national lockdown, imposed this week to stem a new wave of COVID-19…

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M&S branch in France says post-Brexit rules disrupt ready-meal supplies

A Paris branch of British retailer Marks & Spencer said fresh ready-made pasta dishes were unavailable on Monday because post-Brexit trade rules had disrupted deliveries across the Channel. As of Jan.…

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Britain looking at options to restrict international travel

Britain is considering options to restrict international travel to help limit the spread of COVID-19, Minister for the Cabinet Office Michael Gove said on Tuesday. "We are looking at further options to…

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European shares inch higher as oil, retail stocks jump

European shares edged up on Tuesday, lifted by oil and retail stocks, while investors looked past a new national lockdown in Britain to contain a surge in coronavirus cases. The pan-European STOXX 600 index was up 0.1%…

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Euro share trading exits London for EU

The biggest shift in European share trading in two decades was proceeding smoothly on Monday, on the first day of business since Britain left the European Union's single market. While…

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Turkey extends lay-off ban by two months

ANKARA, Dec 30 (Reuters) - Turkey has extended a ban on lay-offs for two months from Jan. 17, a presidential decree published on the Official Gazette showed on Wednesday. The…

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GO goes green with Servify!

GO mobile customers can now trade-in old devices with newer models with guaranteed cash back! Go Plc, Malta’s leading telecommunications provider, entered into a strategic partnership with Servify, a device…

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Oil drops as new coronavirus strain triggers demand recovery fears

Oil prices dropped further on Tuesday, adding to steep losses from the previous session, as a new strain of the novel coronavirus in the United Kingdom triggered concerns over fuel demand…

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Austria readies extra 1 bln euro aid for lockdown-hit business

ZURICH, Dec 19 (Reuters) - Austria expects to pay out an extra nearly 1 billion euros ($1.23 billion) in support for companies hit by a new lockdown that the government…

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Almost a fifth of Spanish firms in danger of insolvency, Bank of Spain says

Up to 18.7% of Spanish companies could be insolvent by the end of the year because of the economic impact from the COVID-19 pandemic, with one in 10 of them…

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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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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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Malta: Centrecom expansion to create 320 new jobs over the next two years

An expansion plan announced by the economy ministry will see Centrecom creating 320 new jobs in the local economy over the next 24 months. During a visit to the company’s…

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06

Nov

Malta Chamber worried about current challenges faced by Manufacturing sector

The Malta Chamber of Commerce, Enterprise and Industry welcomed the investment of €470 million, over an eight-year period, in the infrastructure of the Manufacturing sector, which was announced by Government.…

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Barclays ordered to repay millions on timeshare loans in Malta

Barclays has been ordered by regulators to repay millions of pounds in interest on improperly sold timeshare loans in Malta and faces a further investigation that could force the bank…

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HSBC Malta to permanently close four branches

HSBC Bank Malta p.l.c. has announced that the branches in Mellieħa, San Ġwann, Żabbar and Żebbuġ, which are currently closed, will not be re-opening. In a statement it said that…

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Almost 200 European airports face insolvency, airports body ACI Europe says

Nearly 200 airports in Europe will face insolvency in the coming months if passenger traffic does not start recovering by the end of the year, airports body ACI Europe said on Tuesday.…

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Machines to ‘do half of all work tasks by 2025’

Half of all work tasks will be handled by machines by 2025 in a shift likely to worsen inequality, a World Economic Forum report has forecast. The think tank said…

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Budget 2021: MEA welcomes fiscal incentive but note lack of long-term vision

The MEA welcomed the extension of the COVID supplement to March 2021 which it described as influential in keeping unemployment relatively low in the coming months. The employers' organisation said…

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Significant decline in Malta’s attractiveness for investment, study finds

While the majority of respondents in the annual competiteveness survey by advisory firm EY found that the majority of businesses find Malta to be an attractive destination for FDI, at…

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MHRA says budget averts worst effects of pandemic in near future

The Malta Hotels and Restaurants Association (MHRA) said that Government had delivered a budget which averts the worst effects in the near future being caused by the pandemic. It noted…

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SME Chamber pleased to see number of its proposal make their way in Budget 2021

The Malta Chamber of SMEs said that it was pleased to see a number of its Budget proposals taken up and welcomes the extension of the most important Covid Support…

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UN calls Development Banks to stop backing fossil fuel projects

United Nations Secretary-General Antonio Guterres on Monday urged development banks to stop backing fossil fuel projects, raising the pressure on the state-backed lenders ahead of a climate change summit France…

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40,000 Italian business at risk of usury and criminals due to Covid19 – Confcommercio

Some 40,000 businesses in Italy are at risk of usury, research by the retail association Confcommercio said Friday. It noted that businesses operating in southern Italy and in the hotel…

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Raiffeisen Bank drops BOV’s correspondence relationship in blow to financial services industry

Bank of Valletta plc has this morning announced that it has been advised by Raiffeisen Bank International (Raiffeisen) that it is seeking to terminate its US dollar correspondence relationship with…

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UK watchdog bans Bitcoin-based products for retail investors

Britain's financial watchdog said on Tuesday it would ban the sale to retail investors of products tracking the price of cryptoassets like Bitcoin, arguing that most people lost money on…

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New York stays ahead of London in top financial centres survey

New York retained the top spot in a survey of global financial centres on Friday, with London strengthening its position in second place just over three months before Britain's full…

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Malta: Central Bank says conditions in trade improved in August

For the month of August, conditions in trade improved when compared to July. This was announced during an economic announcement from the Central Bank of Malta. The Central Bank said…

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Standard Chartered may have moved terrorist-related money – BBC

A British bank moved money that may have been linked to terrorist financing, according to more leaked documents made public after the FinCEN documents leak. The British broadcaster reported that…

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Deutsche Bank to close 20% of its branches to save costs in wake of pandemic

Deutsche Bank plans to close down one in five branches in its home market in Germany as it seeks to save costs and capitalise on the changing habits of customers during…

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Lufthansa to cut fleet, jobs as gloom spreads across airline sector

Lufthansa announced further cuts to its fleet and workforce on Monday along with a 1.1 billion euro (1.01 billion pounds) impairment on idled aircraft as Europe's worsening coronavirus situation spread gloom across…

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Malta Chamber of SMEs calls for lower VAT, income tax for businesses in bid to regenerte economy

The Malta Chamber of SMEs has published 19 Budget proposals that mainly focus on the required urgent response mechanism to counter the effects ofthe Covid 19 pandemic on businesses. Introducing…

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Pernod Ricard profit falls as coronavirus hits sales

French spirits maker Pernod Ricard took a writedown of 1 billion euros ($1.19 billion) in full financial year 2019/20, as the coronavirus-led shutdown of bars and restaurants in most of…

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Belgian shops unable to sell summer sale stocks

Belgian shops have not been able to sell their clothing stock following the summer sales – brought forward to August this year due to corona-virus measures impacting the sector. The…

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CiNext – Reskilling is a social imperative

by Jesmond Saliba From CorporateDispatch PRO The pandemic has knocked down many of our assumptions; the idea of reskilling is not among them. If anything, its relevance has only risen…

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Refund of 50% of business electricity bills announced

Government today gave details on the Electricity Refund Bill Scheme which was launched as part of the Plan for the Regeneration of the Economy, which was announced back in June.…

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Germany to extend coronavirus relief for economy

The German government has agreed to pump another €10bn into its Covid-hit economy, prolonging a short-time work scheme and freezing insolvency rules. Short-time work saves jobs by allowing employers to…

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Malta Chamber announces CEO appointment

The Malta Chamber of Commerce, Enterprise and Industry announced on Monday 24th August 2020 the appointment of Edward Chetcuti in the new role of Chief Executive Officer. The President of…

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CEOs speed up digital push and downsize offices, KPMG survey shows

Companies around the world have moved more of their operations online, plan to reduce office space and have made recruiting and retaining staff their top priority since the coronavirus pandemic…

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GO Reports Healthy Financial Position In First 6 Months

GO p.l.c. has today published its interim financial statements covering the period January to June 2020, a period that was predominantly characterised by unprecedented events brought about by the Covid-19…

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UK businesses grow at fastest pace in 5 years in July after COVID slump

British businesses in the services and manufacturing sectors grew at the fastest rate in more than five years last month as they began to recover from the effect of the…

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WH Smith could cut 1,500 jobs in UK restructuring

British retailer WH Smith said on Wednesday it could cut up to 1,500 jobs as part of a restructuring of its UK store operations due to a coronavirus-driven fall in…

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Industry and the Authorities must work together to ensure steady progress in the battle against Covid – Malta Chamber

In view of the uncharacteristically large number of new COVID 19 cases registered on Sunday, The Malta Chamber of Commerce, Enterprise and Industry called for businesses and the general public…

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CorporateDispatchPro – Digitisation: Beyond Digital

Companies today are born digital. The digitisation of processes not only opens up exciting new business opportunities but makes entrepreneurship itself more widely accessible and more democratic. Technological change…

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