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Economists react to possibility of ST shut-down
A panel of economists interviewed by Business Today agreed to some degree that if the Maltese operation of STMicroelectronics had to close down, there would significant impacts on the Maltese economy. Veteran economist Karm Farrugia was the most vivid, describing the possible closure of ST in Malta as “worse than the Shipyards saga”, and insisted…
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SMEs report drop in sales
Small businesses are reporting a slump in the second half of the year over the previous six months and predict a poorer 2009. Seven in 10 small enterprises fared worse in the second half of this year than in the same period last year and are predicting a poorer 2009, according to a survey carried…
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Enemalta risks facing ‘enormous cash flow problems’
According to a study by economist Edward Scicluna, who was commissioned by the 11 unions, a substantial number of people, including one- and two-person households, most of whom are pensioners, would be excluded from the eco reduction. Times of Malta – Saturday, 10th January 2009 Unions urge consumers not to pay utility bills Union leaders…
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Budget dispute halts economic reform debate in MCED
The present budget dispute between the government and the General Workers’ Union is stalling the debate on economic reform within the Malta Council for Economic Development (MCED), the council’s chairman Prof. Edward Scicluna told The Malta Business Weekly. 17-23 Feb 2008 by Franco Aloisio The present budget dispute between the government and the General Workers’…
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Malta Is Setting Its Sights High and Offshore
According to Edward Scicluna, chairman of the Malta Financial Services Center, adaptation has started and the center’s laws and regulations are already based on EU law. SATURDAY, APRIL 24, 1999 By Stephanie Apap Bologna MALTA HAS big plans for its fledgling financial center and it is not setting itself any low standards. By 2010, the…
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Could interest rates in the Euro area go any lower?
Last Thursday, the European Central Bank (ECB) cut interest by 0.25 per cent to 1.25 per cent, falling short of analysts’ expectations of another 0.5 per cent rate cut. Business Today spoke to economic analyst – Labour candidate for EP elections and economist Edward Scicluna, about the ECB’s latest decision, the issue of non-standard measures…
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Economists disagree on ECB decision not to cut interest rates further
A panel of economists interviewed by Business Today had differing opinions about the European Central Bank (ECB)’s decision not to cut interest rates further and keep the base rate at 2 per cent for February. In announcing the ECB council decision on 5 February 2009, ECB President Jean-Claude Trichet explained that as anticipated in its…
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A piglet on Noah’s Ark
But are we sure we are not the piglet on Noah’s Ark? Are not our symptoms very much akin to the “PIGS” family? Are not our exports and tourist services uncompetitive? Times of Malta – Wednesday 25th February 2009 In spite of the great foreboding 10 years ago, that the eurozone is not exactly the…
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Maltese economists concur on a further reduction to combat recession
A panel of economists asked by Business Today about tomorrow’s European Central Bank (ECB) interest rate decision were in consensus that there was still the need for another rate cut after last month’s decision to slash ECB interest rate decision tomorrow Maltese economists concur on a further reduction to combat recession When asked by this…
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MCED to act as a forum for wage debate
Any change will have great possible impact The Malta Council for Economic Development will be the platform not only to continue discussions on the way that the Retail Price Index is calculated, but also for the unions to voice their disagreement with the way that the social wage is calculated. By Miriam Dunn MCED Chairman,…