Market News

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 […]

The Water Services Corporation has announced a national investment plan amounting to €310 million, which are to be spent over the next 10 years on several projects. 41% of the total investment derives from EU funds, it was said. Minister for the Environment, Energy and the Regeneration of the Grand Harbour Miriam Dalli and Water […]

France’s Macron launches political reset with PM change French Prime Minister Elisabeth Borne resigned on Monday, as President Emmanuel Macron seeks to give a new impetus to his second mandate ahead of European parliament elections and the Paris Olympics this summer. Macron did not immediately name a successor for Borne, who will stay on as […]

The past eight years have seen the Malta Stock Exchange grow at a rapid pace, with the number of listings increasing by over 90 per cent, at a time when the number of listings globally is on the decline giving an increase in private equity activity. Joseph Portelli, who has been leading the Malta Stock […]

Global trade is suffering a major setback from missile attacks in the Red Sea, where 10% of the world’s seaborne trade passes through. Oil giant British Petrol (BP) announced on Monday that it had temporarily halted all transits via the Red Sea after recent attacks carried out by the Yemeni Houthi rebel movement, an ally […]

The finance minister’s victory over Denmark’s Margrethe Vestager comes after months of wrangling Spain’s finance minister Nadia Calviño has been named next president of the European Investment Bank (EIB), resolving a fractious and long-running dispute among EU finance ministers. Vincent van Peteghem, the Belgian minister who chairs the public lender’s Board of Governors, told reporters […]

Malta is set to enjoy the strongest economic growth among EU countries this year and next year, even though it will moderate from 2022, according to the autumn forecast of the European Commission, issued. The commission said the island’s GDP growth is expected to reach 4.0% this year from 6.9% in 2022. Growth next year […]

Malta is set to chair the world’s largest security body as part of a diplomatic solution to Russia’s refusal to approve Estonia for the role.  Foreign Minister Ian Borg will hold the position as chairman-in-office of the OSCE on behalf of Malta throughout 2024.  All member states in the Organisation for Security and Co-operation in […]

The Board of Directors of Phoenicia Finance Company p.l.c announces that it has submitted an application to the Malta Financial Services Authority requesting the admissibility to listing of €50,000,0000 5.75% Unsecured Bonds 2028-2033 of a nominal value of €100 per bond issued at par, guaranteed by Phoenicia Malta Limited, both in terms of annual interest […]

The global battery market is experiencing substantial growth, with predictions of a tenfold increase by 2030, reaching 2035 GWh in market volume. However, recent data from SNE Research indicates a 6% overage in the 2021 market volume compared to predictions. The main driver is the demand from the transportation sector, particularly electric vehicles (EVs), putting […]

Middle East conflict could drive up inflation in Europe The International Monetary Fund (IMF) has warned that the conflict in the Middle East between Hamas and Israel could drive up inflation as central banks continue the battle to bring it down. During a media conference in Brussels, Alfred Kammer, the Director of the European Department […]