Economy

Global economy may avoid recession as inflation risks ease – J.P. Morgan

The global economy could avert a recession as data points to a potential soft landing, J.P. Morgan analysts said, while adding that the Federal Reserve might have "over-reacted" with the…

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Floods, other water-related disasters could cost global economy $5.6 trillion by 2050 -report

Worsening droughts, storms and torrential rain in some of the world's largest economies could cause $5.6 trillion in losses to the global economy by 2050, according to a report released…

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Malta: Services push economy towards strong rebound in Q2

Provisional estimates released by the NSO indicate that the Gross Domestic Product (GDP) for the second quarter of 2022 amounted to €4,100.4 million, registering an increase of €526.6 million, or…

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Pain of controlling inflation will reverberate around the globe

The message from the world's top finance chiefs is loud and clear: rampant inflation is here to stay and taming it will take an extraordinary effort, most likely a recession…

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Malta registers higher deficit, debt levels in first seven months of 2022

By the end of July 2022, the Government’s Consolidated Fund reported a deficit of €514.9 million. In parallel, debt levelshave gone up to €8.5 billion, an increase of €709.4 million…

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Analysis: As Ukraine war drags on, Europe’s economy succumbs to crisis

It was meant to be Europe's stellar year. A post-pandemic spending euphoria, supported by copious government spending was set to drive the economy and help fatigued households regain a sense…

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Euro zone business activity contracts in August, outlook bleak

Business activity across the euro zone contracted for a second straight month in August as the cost of living crisis forced consumers to curtail spending while supply constraints continued to hurt…

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Czech windfall tax would affect energy, banks and maybe another sector -finance minister

PRAGUE, Aug 19 (Reuters) - The Czech government will decide in three weeks whether to impose a windfall tax on large energy companies and banks and may include one more sector if it goes…

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Crypto.com gets UK regulatory approval

Singapore-based cryptocurrency platform Crypto.com has registered with Britain's financial services regulator, the company said in a statement on Wednesday. Joining the Financial Conduct Authority's (FCA) register means that Crypto.com has…

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World shares edge up even as inflation and policy concerns linger

World shares edged up by mid-week taking comfort from strong U.S. retail earnings even though the UK's highest inflation since 1982 and a rate hike in New Zealand reminded investors…

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Bank of England will probably need to raise rates again – Deputy Governor

The Bank of England will probably have to raise interest rates further from their current 14 year-high to tackle inflation pressures that are gaining a foothold in Britain's economy, BoE…

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German finance minister draws up 14 billion eur relief plan – Spiegel

German Finance Minister Christian Lindner plans a 10.1 billion euro ($10.29 billion) relief package to help taxpayers in 2023 which he is set to present next week, the Spiegel news weekly…

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Euro zone investor morale edges up, recession still likely – Sentix

BERLIN, Aug 8 (Reuters) - Investor morale in the euro zone was essentially unchanged in August from the previous month, with a slight rise too little to stave off fears of recession…

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Malta: Further drop in unemployment

Malta's unemployment rate for June 2022 stood at 3.0%, the NSO said today. This reflected a drop of 0.1 percentage points from the previous month. For the month under review,…

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IMF cuts global growth forecasts, warns high inflation threatens recession

The International Monetary Fund cut global growth forecasts again on Tuesday, warning that downside risks from high inflation and the Ukraine war were materializing and could push the world economy…

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Trouble looms for Europe as Germany slides on brink of recession

German business morale fell more than expected in July, the Ifo business sentiment survey showed on Monday, as the institute that compiles it said high energy prices and looming gas…

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Malta’s financial system’s resilience and performance improve despite challenging times – Central Bank

A report by the Central Bank of Malta shows that despite the high uncertainty surrounding the global economic climate, banks reported improved asset quality owing to both reduced NPLs and…

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Italy’s economy minister says growth could end this year even after strong Q2

ROME, July 8 (Reuters) - Italian economic growth was probably strong in the second quarter but could slow or even stop in the coming months as inflationary pressures rise, Economy Minister Daniele…

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Spain expects its economy to continue growing in 2023 – minister

MADRID, July 7 (Reuters) - Spain's government expects the Spanish economy to continue growing next year despite the impact of rising inflation and the war in Ukraine, Finance Minister Nadia Calvino said…

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Crisis-hit Ghana changes its mind and turns to IMF for help

ACCRA, July 1 (Reuters) - Ghana, one of West Africa's largest economies, will hold formal talks with the International Monetary Fund (IMF) on a support package, the government said on Friday, after…

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Russia slips into default zone as payment deadline expires

LONDON (Reuters) -Russia looked set for its first sovereign default in decades as some bondholders said they had not received overdue interest on Monday following the expiry of a key…

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G7 nations are worried about global economic crisis – Scholz

SCHLOSS ELMAU, Germany (Reuters) - All leaders of the Group of Seven rich democracies are concerned about a looming economic crisis as growth slows and inflation soars, German Chancellor Olaf…

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Portugal wants long-term EU mechanism for security, energy investment

Portugal wants the European Union to create a mechanism similar to its pandemic recovery programme to channel investment into defence, security, green energy and digital spheres, Prime Minister Antonio Costa said on Monday.…

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Spain to grant more work visas to combat labour shortages

Spain plans to relax work permit rules for foreigners, its social security and migration minister said, to address labour shortages in industries such as tourism and construction that threaten its…

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French economy shrank in first quarter as inflation unnerves consumers

France's economy shrank unexpectedly in the first quarter as consumers struggled to cope with surging inflation, official data showed on Tuesday, putting pressure on President Emmanuel Macron heading into legislative…

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Malta: Unemployment rate down to 3.1%

The unemployment rate for April 2022 stood at 3.1 per cent, the NSO reported today, therefore declining by 0.1 percentage points when compared with the previous month and by 0.3…

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Eurozone inflation hits new record of 8.1% as energy costs soar

Euro zone inflation rose to yet another record high in May, challenging the European Central Bank view that gradual interest rate increases from July will be enough to tame stubbornly high price…

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World leaders warned of risk of worldwide recession at Davos Forum

Multiple threats to the global economy topped the worries of the world's well-heeled at the annual Davos think-fest on Monday, with some flagging the risk of a worldwide recession. Political…

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EU Commission to propose keeping fiscal rules suspended in 2023-officials

The European Commission is likely to propose on Monday keeping EU curbs on government borrowing suspended in 2023 amid great economic uncertainty and a sharp slowdown in growth caused by…

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Fitch affirms Malta at ‘A+’; outlook stable

Fitch Ratings - Frankfurt am Main - FitchRatings has affirmed Malta's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'A+' with a Stable Outlook. Malta's rating is supported by high per-capita…

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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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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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OPEC cuts 2022 world oil demand forecast due to Ukraine conflict

OPEC on Tuesday cut its forecast for growth in world oil demand in 2022 citing the impact of Russia's invasion of Ukraine, rising inflation as crude prices soar and the…

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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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Malta: Government ends 2021 with €1.24bn deficit

The public purse has ended the year 2021 with a deficit of 1.24 billion euro, the NSO reported today. Compared to the same period in 2020, there was a decrease…

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Italy to stick to 5.6% deficit target despite slashing growth outlook

Italy plans to confirm its 2022 budget deficit target at 5.6% of national output, two sources close to the matter told Reuters, despite coalition pressure to sharply hike borrowing as the growth outlook…

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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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Malta: Strong rebound in the services sector drives strong 9% growth in GDP

Provisional estimates published by the NSO indicate that the Gross Domestic Product (GDP) for 2021 amounted to €14,533.8 million, registering an increase of €1,473.9 million, or 11.3%, when compared to…

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Malta: Construction, public sector jobs supports growth in employment

Emplyoment increased towards the end of last Summer, fresh NSO data reveals. Statistics published this morning have shown that in September 2021, registered full-time employment increased by 3.8%, while part-time…

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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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Malta’s economic activity to reach pre-pandemic levels in mid-2022: EC Report / Malta News Briefing – Friday 11 February 2022

1745- Latest News update Times of Malta says Nearly 200 nations kick off a virtual meeting on Monday to finalise what promises to be a harrowing scientific overview of accelerating…

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