Issue link: https://maltatoday.uberflip.com/i/531627
maltatoday, WEDNESDAY, 24 JUNE 2015 11 Business Today www.creditinfo.com.mt info@creditinfo.com.mt Tel: 2131 2344 Your Local Partner for Credit Risk Management Solutions Supporting you all the way Japan's Nikkei hits 15-year high on Greece deal hopes Japan's Nikkei index has hit a 15- year high, helped by the global share rally that was triggered by hopes that Greece will reach a deal with its creditors. On Monday, Greece offered reforms in exchange for the last payment of €7.2bn from the current aid programme, without which it will not be able to make a €1.6bn repayment to the IMF. Japan's Nikkei 225 index closed up 1.9% to 20,809.42 – leading Asia's gains. That was the highest level since April 2000. Investors shrugged off a survey that indicated manufacturing activity contracted slightly in June as new orders fell and output growth slowed. The Markit/JMMA flash purchasing managers' index (PMI) fell to a seasonally adjusted 49.9 in June from a final 50.9 in May. A figure below 50 indicates contraction. Shares in Toshiba were up 0.9% despite a local report that its semiconductor and personal computer businesses had been affected by accounting problems, which could lead the tech firm to revise down its profits. In China, the Shanghai Composite closed up 2.2% at 4,576.49 – reversing earlier losses. A private survey suggested that Chinese factory activity continued to contract in June, the fourth month in a row it has done so, although the rate of decline eased. The HSBC/Markit flash manufacturing PMI stood at 49.6, but this was the highest reading for three months and was up from 49.2 in May. Hong Kong's Hang Seng index closed up 0.93% at 27,333.46. In Australia, the benchmark S&P/ASX 200 closed up 1.3% at 5,684.30. South Korean shares posted their biggest gain in two months, with the benchmark index closing higher for the fifth consecutive day. The Kospi index rose 1.3% to 2,081.20 – its biggest daily percentage gain since 23 April. Malta Enterprise elected to vice- presidency on ANIMA board Malta Enterprise was unanimously elected to the vice-presidency of the Euro-Mediterranean Network of Players for Economic Develop- ment (ANIMA). The election was carried out at the General Assembly held on 11 June in Gamarth, Tuni- sia. In its vice-presidency role, Malta Enterprise has been entrusted with the task of coordinating activities with international organisations including the OECD, UNCTAD, World Bank and the European Investment Bank. Through an initiative of Malta Enterprise, ANIMA will be signing a memorandum of understanding with the World Association of Investment Promotion Agencies (WAIPA). ANIMA was set up in 2002 and today represents 75 members across 22 countries in Europe and the Mediterranean. Malta Enterprise was one of its founding members. The network comprises national and regional investment promotion agencies, international organisations, business federations, innovation clusters, financial investors and research institutes from the Euromed region. ANIMA's objective is to contribute to the continued improvement of the Mediterranean business climate as well as encourage sustainable economic development in the region. To achieve this end, ANIMA offers publications and other economic intelligence tools on the Mediterranean market, develops various projects aimed at improving the attractiveness of the region and organises B2B events to facilitate trade and investment exchanges between entrepreneurs. ANIMA is also associated with numerous Euro-Mediterranean entrepreneurial, professional and academic networks and institutions with which it is constantly developing mutual cooperation. Eurozone business growth rate at four-year high The eurozone's economic recovery is continuing, a survey has suggested, with business output growing at its fastest rate in four years in June. The CIPS/Markit composite purchasing managers' index rose to 54.1, compared with 53.6 a month earlier – its highest reading in 49 months. A reading above 50 indicates growth, while a reading below 50 suggests a fall in activity. Markit said the services sector had seen its best quarter for four years. In addition, factories enjoyed their best quarter of production growth for a year, "highlighting the broad-based nature of the upturn". Employment and new orders also rose at their strongest rates for four years in the second quarter. "Despite the cloud of the Greek debt crisis hanging over the region, the eurozone saw economic growth accelerate to a four-year high in June," said Chris Williamson, chief economist at Markit. "The PMI is signalling GDP growth of 0.4% for the region as a whole in the second quarter." The eurozone's gross domestic product rose by 0.4% in the first quarter, according to official figures. Williamson added that the eurozone's economy was on course to grow by 2% this year, "though much of course depends on the outcome of the Greek debt negotiations and any resulting impact on growth in the second half of the year". Business activity picked up in both Germany and France in June, but Germany saw a weaker growth rate in the second quarter compared with the first. Excluding France and Germany, the rest of the eurozone recorded its best performance for eight years, Markit said. Survey shows demand for IT, analytics specialists driving salaries in online gaming Malta's place at the heart of global online gaming's future would ap- pear to be secure according to a new salary survey from specialist recruit- ment company BettingJobs, which found interest in experienced and talented candidates across a number of disciplines is driving up average salaries in the jurisdiction. The survey found that demand was strongest in the areas of IT and analytics, with Malta being the biggest beneficiary of the global trend for hiring in the latter vertical. The survey found that hiring is strong across all levels. Fiona Hickey, director at BettingJobs, said: "The growth of analytics across the industry is one standout from the survey overall, and the trend is most noticeable in Malta where these departments are growing in importance within online gaming companies as their exposure to big data increases exponentially." Within the analytics vertical, salaries are trending upwards in Malta with a head of analytics able to command a salary, on average, of €90,000 while a business analyst will typically be earning on average €55,000. Salaries levels across the online gaming entities working in Malta demonstrate the strength and depth of the talent pool in the sector. "The calibre of candidate that is looking to relocate to Malta remains outstanding. Salaries in Malta may be lower than in some other comparable jurisdictions, but it remains an enticing location due to the lower cost of living, the climate and the large expat communities. "It is particularly interesting to see that Malta's future would appear to be secure, given the number of start- ups within the online gaming space that choose Malta as their home. This demonstration of entrepreneurial spirit has to be good for the Maltese industry and the egaming employee base on the island." At the top of the tree, chief executives in online gaming companies based in Malta command salaries, on average, of €205,000 while chief marketing will typically earn an average of €115,000. Heads of SEO salaries in Malta on average hit €75,000 while country managers will be earning circa €50,000. In technical teams, the IT directors will be commanding salaries of €106,000 and project managers will be earning average salaries of around €50,000 while software developers earn on average €40,000.