Market News

Germany’s year-on-year inflation for March 2024 was released on Friday morning, clocking in at 2.2%, according to the Federal Statistical Office. This was a step down from February’s 2.5%, while also being the lowest figure since May 2021. This was mainly due to food inflation seeing the first decline since February 2015, sliding to -0.7% […]

Global bank HSBC has agreed to sell its Argentina division to the financial services company Grupo Financiero Galicia for $550 million (€501m) as it focuses on core Asia operations. HSBC is selling the business, which covers banking, asset management and insurance, to Argentina’s fifth largest bank Grupo Financiero Galicia for $550 million, the British bank said. […]

Bank of Valletta announced its performance for Financial Year ending 31 December 2023, registering a profit before tax of €251.6 million. These positive results are underpinned by strong income growth and high profitability levels achieved across all main business lines. This continued to strengthen the Bank’s balance sheet position, with liquidity and capital positions remaining well […]

In announcing its financial results for the fiscal year ended December 31, 2023, the company said that revenues had increased by almost €2.9 million to €28.7 million, up by 11% over the previous year. Notably, revenue from cloud and managed IT services experienced significant growth, with cloud revenue up by 38% year-on-year and managed services […]

Nationwide coverage for true fibre and 5G technology by the end of the year. GO’s chief executive officer Nikhil Patil described 2023 as a transformational year for bringing the company’s purpose of driving a digital Malta to life. “We have been firing all cylinders to deliver record results… We have transformed BMIT into Malta’s first […]

APS Bank plc is pleased to report a pre-tax profit of €30.2 million (2022: €15.7 million) for the Group and €27.8 million (2022: €28.9 million) for the Bank. Such a strong performance is underpinned by robust operating fundamentals and a growth strategy driven by ongoing digital transformation, enhancing the customer experience and maintaining asset quality. […]

Ukraine’s potential accession into the European Union could have an impact of between €110 billion and €136 billion on the bloc’s seven-year budget, according to a new report by the Bruegel think tank. This would represent 0.10% and 0.13% of the EU’s gross domestic product (GDP). The projection uses the existing rules and design of […]

In 2023, the bank delivered strong revenue growth across all three global businesses, supported by higher interest rates, which enabled the company to deliver their best return on equity in more than a decade. As well as improving financial performance, the strategy is increasing shareholder returns. They will now reward their shareholders for their loyalty […]

Phoenicia Finance Company p.l.c. (the “Issuer”) has announced the issuance of €50,000,000 5.75% Unsecured Bonds redeemable between 2028 and 2033, having a nominal value of €100 per bond issued and redeemable at par (the “Bond Issue”).  The bond issue is guaranteed by Phoenicia Malta Limited and Phoenicia Hotel Company Limited, both in terms of annual […]

Hamas has proposed a ceasefire plan that would quiet the guns in Gaza for four-and-a-half months leading to an end to the war, in response to a proposal sent last week by Qatari and Egyptian mediators and backed by the United States and Israel. According to a draft document seen by Reuters, the Hamas counterproposal […]

HSBC neglected to adequately protect customer deposits from around 2015 to 2022, leading to the PRA issuing its second largest fine ever. HSBC, Europe’s biggest bank, was served with a massive £57 million (€66.73 million) fine on Tuesday by the Bank of England’s Prudential Regulation Authority (PRA), due to the bank failing to do enough […]

Donald Trump cruised to victory in New Hampshire’s Republican presidential contest on Tuesday, marching closer to a November rematch with Democratic President Joe Biden even as his only remaining rival, former U.N. Ambassador Nikki Haley, vowed to soldier on. “This race is far from over,” she told supporters at a post-election party in Concord, challenging Trump […]