Economy

UK Living Standards Lag as Malta Wins Praise for Economic Strength, Telegraph Reports

Living standards in the UK are set to fall behind those in Malta, according to an analysis published by the Daily Telegraph, as Britain struggles with rising debt and weak…

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White House pushes back against recession talk as household worries grow

A key economic adviser to President Donald Trump pushed back on talk of recession stemming from uncertainty around his administration's tariff policies, even as a survey of American households showed…

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Huge Potential for Capital Markets as Deposits by Households Reach €20 Billion

The instrumental role of capital markets in supporting Malta’s economic progress in recent years and their potential to help the country to pursue substantial investments necessary for sustained growth found…

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EU forecasts gradual expansion amid high geopolitical risks in latest economic forecast

The European Commission predicts that the European Union's economy will see slow but increasing economic growth this year and next year, according to a new forecast published on Wednesday. The…

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‘Plausible’ June rate cut as European equities hit record highs

According to Euronews, the latest minutes from the European Central Bank meeting indicated a rising chance for easing monetary policy in June. While a majority support maintaining current rates. The…

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Global factories struggle for growth as China demand remains weak

Euro zone manufacturing activity contracted again in February German factories saw deeper fall in activity Mixed data from China By Jonathan Cable LONDON, March 1 (Reuters) - Global factories struggled…

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Economic activity in EU to regain pace through 2024 – report

Economic activity in the European Union is anticipated to gradually pick up throughout 2024 after a weak start to the year, according to the Commission’s latest economic forecast. As inflation…

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Euro zone banks expect rebound in mortgage applications – ECB

Euro zone banks expect a small rebound in the demand for mortgages and loans to companies early this year as a slump in lending shows early signs of moderating, a…

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Eurozone economy to contract or stagnate in Q4, ECB’s De Guindos says

The euro zone's economy is likely to contract slightly or at best stagnate in the fourth quarter, ECB's vice president Luis de Guindos said on Tuesday."We have seen a quarterly…

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As global debt worries mount, is another crisis brewing?

Record debts, high interest rates, the costs of climate change, health and pension spending as populations age and fractious politics are stoking fears of a financial market crisis in big…

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IMF says global economy ‘limping along,’ cuts growth forecast for euro area

The International Monetary Fund on Tuesday cut its growth forecasts for China and the euro area and said overall global growth remained low and uneven despite what it called the…

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EU Commission cuts euro zone growth forecast as Germany in recession

The euro zone economy will grow slower than previously expected this year and next, the European Commission forecast on Monday as consumer demand suffers from high inflation and the biggest…

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Germany, Switzerland, Austria join call for return to budgetary discipline

The finance ministers of Germany, Luxembourg, Austria, Switzerland and Liechtenstein on Monday made a joint appeal for a return to discipline in government spending and an end to an era of…

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Industrial output jump gives euro zone growth small boost

The euro zone's vast industrial sector rebounded in June, giving overall growth a small boost to end an otherwise weak quarter on a positive note, data from Eurostat showed on…

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UK PM Sunak sees “light at the end of the tunnel” on inflation

British Prime Minister Rishi Sunak said there was "light at the end of the tunnel" for his government's plan to halve inflation, adding that progress had been made despite record wage growth reported…

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Royal Caribbean raises annual profit forecast on resilient demand, shares surge

Royal Caribbean Group raised its full-year profit forecast on Thursday, betting on higher ticket prices, onboard spending and resilient demand as travelers seek out cruise vacations this summer, sending its…

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Euro zone business downturn deepens far more than thought in July -PMI

A downturn in euro zone business activity deepened much more than expected in July as demand in the bloc's dominant services industry declined while factory output fell at the fastest pace…

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Euro zone underlying inflation finally easing: ECB’s de Guindos

Underlying price pressures in the euro zone, a key focus for European Central Bank policymakers, are finally easing and past rate hikes have started to work their way through the economy, ECB…

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World food prices fall again in June – UN food agency

The United Nations food agency's world price index fell in June to its lowest level in more than two years, pushed down by a drop in the cost of sugar,…

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Putin says Russian economy faring better than expected

By Lidia Kelly July 5 (Reuters) - President Vladimir Putin said late on Tuesday that the Russian economy was performing better than expected after Prime Minister Mikhail Mishustin reported to him that…

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The EU’s complex landscape: Balancing inflation, growth, and stability

Keith Zahra, Communications Manager, Corporate and EU Affairs at Corporate Identities Towards the end of last year, English publisher Collins designated ‘perma-crisis’ as the word of the year, symbolizing the prolonged…

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ECB’s Lagarde sees no peak in core inflation despite ‘moderation’

European Central Bank President Christine Lagarde on Monday acknowledged "signs of moderation" in core inflation in the euro zone but reaffirmed it was too early to call a peak in that…

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Euro zone economy barely moves in first quarter

Euro zone economic growth was 0.1% quarter-on-quarter in the first three months of the year, the EU's statistics agency confirmed on Tuesday, with rising employment and a sharp increase in…

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Head of Russia’s crime agency suggests nationalising parts of economy

May 13 (Reuters) - The head of Russia's federal crime agency on Saturday suggested that key sectors of the economy should be returned to state ownership to support Moscow's war in Ukraine.…

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ECB should keep raising rates until mid-2024, EU must tighten fiscal policy -IMF

The International Monetary Fund called on the European Central Bank on Friday to keep raising interest rates until the middle of 2024 and on European Union finance ministers to tighten fiscal policy…

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Six major central banks increased interest rates in March

The pace of interest rate hikes by major developed and emerging market central banks continued at a healthy clip in March though the scale of rises tapered off somewhat as…

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More food shortages could add to Britain’s price pressure

Britons already reeling from the biggest rise in food prices since 1977 may have to get used to shortages of fresh vegetables as soaring costs and unpredictable weather hit domestic…

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ECB survey sees moderating inflation, rising wage expectations

Inflation expectations among euro zone consumers dropped in January but expectations for wage growth continued to rise, adding to fears wage growth will slow efforts to control prices, a European…

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Visa, Mastercard pause crypto push in wake of industry meltdown – sources

U.S. payment giants Visa and Mastercard are slamming the brakes on plans to forge new partnerships with crypto firms after a string of high-profile collapses shook faith in the industry,…

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NSO says Malta GDP grew by 6.9% in 2022

Provisional NSO estimates indicate that the Gross Domestic Product (GDP) for 2022 amounted to €16,870.3 million, registering an increase of €1,868.4 million, or 12.5 per cent, when compared to 2021.…

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Euro zone Q4 GDP growth confirmed, employment up more than expected

Euro zone gross domestic product growth slowed in the last three months of 2022 but stayed in positive territory, the EU's statistics office confirmed on Tuesday, and employment rose more than…

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IMF chief says markets have good reasons to be more upbeat on economy

The head of the International Monetary Fund (IMF) said on Monday that financial markets have good reason to be more upbeat, pointing to the U.S. economy likely avoiding recession and…

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Malta: Fixed energy prices should be limited in time and scope – IMF

Government should prepare an exit strategy from the fixed-energy-price policy while protecting vulnerable groups. In its annual assessment of Malta's economic and financial performance, the Fund said that this strategy…

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ECB survey shows rising inflation expectations despite energy price falls

Euro zone consumer expectations for inflation edged up again in December, a European Central Bank survey showed on Tuesday, indicating that recent interest rate hikes and falling energy prices have not yet tempered…

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Coffee prices to drop 12% as global surplus forecast

Arabica coffee prices are forecast to post an annual drop of 12% in 2023, with a large crop in top producer Brazil expected to lead to a global coffee surplus…

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EU commissioner: we don’t want a subsidy war with U.S

The European Union does not want to wage a subsidy war against the United States over its Inflation Reduction Act, EU Commissioner Paolo Gentiloni said in Berlin on Tuesday. The EU Commission plans to present…

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Central banks bought the most gold since 1967 last year

Central banks added a whopping 1,136 tonnes of gold worth some $70 billion to their stockpiles in 2022, by far the most of any year since 1967, the World Gold…

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Euro zone economic sentiment rises in January to seven-month high

Euro zone economic sentiment rose to a seven-month high in January on more optimism across all sectors except construction, with inflation expectations among consumers and companies both sharply down, data…

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EU may avoid recession, have a more shallow contraction instead -Gentiloni

Latest economic data shows the European Union may avoid a recession that was expected earlier and have a more shallow contraction instead, European Economic Commissioner Paolo Gentiloni said. "The economic situation is…

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ECB’s Centeno: we are approaching the end of the interest rate rise process

LISBON, Jan 10 (Reuters) - European Central Bank's governing council member Mario Centeno said on Tuesday the current process of interest rate increases is approaching its end. The central banker, who was…

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Goldman Sachs no longer expects recession in euro zone in 2023

Goldman Sachs said on Tuesday it expects the euro zone economy to grow by 0.6% this year, compared with its previous forecast of a contraction, thanks to a fall in natural gas…

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Stocks and commodities jump as China drops quarantine rule

tock markets gained on Tuesday after China said it would scrap its COVID-19 quarantine rule for inbound travellers - a major step in reopening its borders. MSCI's broadest index of…

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There should not be any ‘crash’ in French and European economy – ECB’s Villeroy

The French and broader European economy should not suffer any "crash" or "hard landing", European Central Bank (ECB) member and Bank of France head Francois Villeroy de Galhau told BFM…

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Australia’s sovereign wealth fund buys gold, commodities as shadow of 1970s looms

Australia's A$200 billion ($134.28 billion) sovereign wealth fund is increasing exposure to gold, commodities, private equity and infrastructure as it warns the future will echo the low-growth, high-inflation era of…

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Erdogan: Turkey’s inflation will fall to 40% in months, 20% in 2023

ANKARA, Dec 12 (Reuters) - Turkey's President Tayyip Erdogan said on Monday it was "apparent" that inflation would fall to around 40% in a few months, and further to 20% in 2023.…

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Spain plans to extend restrictions on foreign takeovers until end 2024

MADRID, Dec 12 (Reuters) - Spain plans to extend restrictions on foreign takeovers of companies it deems strategic for two years, the economy ministry said on Monday, confirming an earlier report from…

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EU’s Gentiloni says Italy on track to meet reform timetable

ROME, Dec 11 (Reuters) - Italy is sticking to the reform timetable required to access almost 200 billion euros ($210.6 billion) of European Union funding, European Economics Commissioner Paolo Gentiloni said on…

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EU’s Gentolini: We will have a recession this winter

Europe will fall into a recession this winter and growth will not return before spring, European Economy Commissioner Paolo Gentiloni said on Monday. "We will have a recession this winter,"…

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Europe to be hit hardest in global slowdown -OECD

The global economy should avoid a recession next year but the worst energy crisis since the 1970s will trigger a sharp slowdown with Europe hit hardest, the OECD said on…

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Euro zone Q3 GDP confirmed at 0.2% q/q, employment up as well

Euro zone gross domestic product grew by 0.2% quarter-on-quarter in the July-September period for a 2.1% year-on-year increase, Eurostat confirmed on Tuesday, while employment in the single currency area also…

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ECB must not stop rate hikes before core inflation peak, Villeroy says

FRANKFURT, Nov 7 (Reuters) - The European Central Bank must not stop raising interest rates until underlying inflation has clearly peaked, but it may slow the pace of hikes once rates hit…

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Tunisia to start difficult economic reforms soon – cbank governor

TUNIS, Oct 29 (Reuters) - Tunisia will soon enact difficult economic reforms that have been delayed for years, the central bank governor said on Saturday, adding that financial authorities were trying to…

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Malta: Food prices drive inflation above 7.5%

In September 2022, the annual rate of inflation as measured by the RPI was 7.52 per cent, up from the 6.98 per centin August 2022, the NSO said today. The…

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Italy forecasts recession as Meloni seeks economy minister

Italy's economy probably shrank in the third quarter and will keep contracting until mid-2023, according to Treasury forecasts that will make grim reading for Giorgia Meloni, the rightist leader expected…

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Italy’s economy to shrink for 3 straight quarters, Treasury says

ROME, Oct 3 (Reuters) - Italy's economy probably shrank in the third quarter and will continue to contract for the following two quarters, according to the latest Treasury forecasts. The forecasts indicate…

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Countries to have more say in their deficit and debt reductions in reformed EU Stability and Growth Pact proposal – FT

The Financial Times reports that the European Commission wants to give its member states more time 'to curb their debts and create space for public investment as part of a…

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Asked about Italy, ECB’s Lagarde says she won’t fix ‘policy errors’

The European Central Bank won't use its latest emergency scheme to buy the bonds of countries that make "policy errors", its President Christine Lagarde said on Monday in response to…

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