Corporacion Mapfre, the Spanish insurance company, increased their stake in Middlesea Insurance from 5.49% to 20.66% today when four special trades totalling 1,896,643 shares were executed in the market at a price of 300c per share, a 20% premium over the previous traded price of 250c. Mapfre acquired the shares from the Government of Malta [...]

The Central Bank of Malta left the central intervention rate unchanged at 3% during its Monetary Policy Advisory Council meeting held today. The Governor considered that there was no conclusive evidence to suggest that the current monetary policy stance was not appropriate. Although the Bank’s external reserves declined further in January, this reflected normal seasonal [...]

The Central Bank of Malta left the central intervention rate at 3% following the Monetary Policy Advisory Council meeting held today. The following press release was issued by the Central Bank of Malta. The Governor considered that, in the absence of major developments in the economic and financial environment since the previous Council meeting, the [...]

Suncrest Hotels plc today announced their results for the year ended 31 October 2004. The company's turnover increased by 20% to Lm2.6 million as the hotel's occupancy improved from 50% in 2003 to 66% following a gradual recovery in the tourism industry in Malta. Suncrest's staff costs and other operating charges increased by 10.4% and [...]

By a letter dated 5 January 2005 the Privatisation Unit informed Bank of Valletta plc that the Government of Malta and Banco di Sicilia have decided to appoint Rothschild SpA as their financial advisor for the sale of their joint shareholding (equivalent to 39.78%) in Bank of Valletta to a strategic investor.