Market News

Issue of €60,000,000 6% International Hotel Investments p.l.c Unsecured Bonds 2033 International Hotel Investments plc published a €60 million 6% unsecured bonds redeemable in 2033. The new bonds are earmarked for subscription by:  Holders of the 2023 Bonds and 2024 Bonds as at close of trading on 19 September 2023 (“Maturing Bondholders”) – up to […]

This budget is Meloni’s first real economic test since she came to power last October. Italy is under growing market scrutiny as Prime Minister Giorgia Meloni prepares a difficult 2024 budget, with investors dismayed by government moves affecting sectors from banks to airlines. The task is made all the harder by a weakening growth outlook […]

Finance Minister says it will be a while before inflation rates decrease, as he promises ‘expansive Budget’. Finance Minister Clyde Caruana warned that inflation is here to stay for an indefinite period of time, adding that government aims to deliver an expansive Budget for next year, despite external pressures. Addressing the media and social partners […]

Towards the launch of a new online platform for the Malta Business Registry The Malta Business Registry (MBR) is launching a new online platform. To ensure a smooth transition from the current system to the new one, the new platform is available as from today 31st August 2023 and will include a facility to register […]

Malta’s gross domestic product (GDP) is expected to grow by 3.7% this year, down from just above 7% in 2022 and to edge down to to 3.6% by 2025, the Central Bank said Thursday. This implies a downward revision when compared to the Bank’s previous projections, a CBM statement said.  In 2023, net exports are […]

Italy is the latest European country to hit banks with a windfall tax in a surprise move on their profits, which have been bolstered by interest rate rises, to help mortgage holders. Below is a snapshot of the status of windfall taxes or bank specific duties across European countries. CZECH REPUBLIC The Czech lower house of […]

Everyone acknowledges that the Green sector also creates jobs, makes electric grids more resilient, expands energy access in developing countries and helps lower energy bills. All of these factors have not contributed to a renewable energy dream taking root in Malta. Citizens were given hope as many studies were commissioned over the decade, only to […]

Fitfch Ratings downgraded the United States to AA+ from AAA. Rating agency Fitch on Tuesday downgraded the U.S. government’s top credit rating, a move that drew an angry response from the White House and surprised investors, coming despite the resolution of the debt ceiling crisis two months ago. Traders’ immediate response was to embark on […]

Malta: Water Services Corporation launches Malta’s first-ever Green Bonds The Water Services Corporation (WSC) announced the launch of Malta’s first-ever Green Bonds. The €25 million issuance will have a maturity term of 10 years and an interest rate of 4.25%. The Green Bonds are in line with the UN’s Sustainable Development Goals and the EU’s […]

The European Central Bank (ECB) hiked interest rates for the ninth consecutive time on Thursday, bringing rates to their highest level in 23 years. ECB President Christine Lagarde said that the bank’s governing council still had “an open mind as to what the decisions will be in September and in subsequent meetings”. “This determination based […]

Brussels to invest €45bn in Latin America and Caribbean by 2027 The European Union has committed to investing up to €45 billion in both Latin America and countries in the Caribbean by 2027. European Commission President, Ursula von der Leyen, said that the money will take the form of concrete investments, including in the green energy […]

Some two dozen central banks across emerging and advanced economies are expected to have digital currencies in circulation by the end of the decade, the Bank for International Settlements (BIS) found in a survey published on Monday. Central banks around the globe have been studying and working on digital versions of their currencies for retail […]