Issue link: https://maltatoday.uberflip.com/i/616203
maltatoday, WEDNESDAY, 16 DECEMBER 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 Bank of Valletta collaborates with Saxo Bank to launch eTrader+ powered by Saxo Bank Bank of Valletta announced the launch of eTrader+ Powered by Saxo Bank. This new online trad- ing platform is the result of a col- laborative agreement reached be- tween the two banks. Speaking on the launch, Charles Borg, the Bank's Chief Executive Officer said, "Through the eTrader+ powered by Saxo Bank, Bank of Valletta will be offering an alternative channel to active traders, who want direct access to trade online. In fact, this highly adaptive platform offers key benefits such as the ability to place orders in real time across all major international markets, the possibility of effecting single limit as well as algorithmic or advanced orders and having 24- hour access to market prices for more than 30,000 securities." The eTrader+ powered by Saxo Bank is intended for the seasoned investor who trades frequently, providing a truly personalised and fully scalable platform that is accessible seamlessly, with all functionality being carried across devices, including tablet and mobile phones (iOS, Android and Windows compatible phones). "Whereas in the past, access to financial markets was solely through the physical interaction with a stockbroker, leading to higher transactional costs, we are now putting the investor in the driving seat by providing access to a robust trading platform and passing across the cost benefits" explained Mr Borg. "Of course, due also to the applicability an inactivity fee, this platform is targeted for the active traders who are well versed with the market environment. Through the eTrader+ powered by Saxo Bank, these traders will now be able to manage their own portfolio on any device from a single account," he said. Through the e-Trader+ powered by Saxo Bank platform, investors can choose to trade from their own fully customisable personal watch list, by creating a dedicated order ticket or directly from a share-price chart in real time. Trade confirmations are received instantly through notifications on one's smartphone. "This platform demonstrates Bank of Valletta's commitment to utilise technology to meet its clients' financial needs. As a fully- fledged financial services provider, Bank of Valletta is making its utmost to be the leader in its market, offering a comprehensive suite of financial solutions that compete not only with similar players, but also with providers of specialised services in investments and wealth management." Fewer women, more youths than EU average employed by tourism sector 41% of workers in the tourism in- dustry in Malta are female, while 21% of workers fall within the 15 to 24 age bracket. Eurostat data shows that tourism industries (economic activities related to tourism, but not necessarily relying on tourism only) employed just over 12 million persons, equivalent to 9% of total employment in the EU non-financial business economy in 2013. Among them, the three industries that rely almost entirely on tourism (accommodation, travel agencies/ tour operators and air transport) employed 3.3 million people. Compared with the non-financial business economy, in 2014 core tourism activities in the EU employed a more female (58% of persons employed in core tourism activities were women vs. 36%) and younger workforce (13% of persons employed were aged 15 to 24 vs. 9%). While women represented in 2014 just over a third (36%) of persons employed in the non-financial business economy, core tourism activities employed predominantly female workers (58%). Women accounted for at least two-thirds of employment in core tourism activities in Latvia (72%, compared with 42% in the non-financial business economy), Lithuania (68% vs.43%), Poland (67% vs. 36%), Slovakia (67% vs.36%) and Estonia (66% vs. 40%). Luxembourg (where women represented 32% of employment), Malta (41%) and Belgium (49%) were the only EU states were women did not make up the majority of tourism sector workers. With 13% of persons employed aged 15 to 24, core tourism activities in the EU employed proportionally more young workers than the non- financial business economy (where people aged 15-24 represented 9% of employment). This pattern was observed in nearly all Member States. The share of young people in core tourism employment was notably high in Denmark (24%), Malta and the Netherlands (21%) and the United Kingdom (20%) where at least one tourism worker out of five was aged 15 to 24. Harmonized consumer price index puts infl ation at 1.3% in November In November, the annual rate of infl a- tion as measured by the Harmonised Index of Consumer Prices stood at 1.3 per cent. In November, the annual rate of inflation stood at 1.3 per cent. A year earlier the annual rate was 0.6 per cent. The largest upward impacts on annual i n f l a t i o n were brought about by the R e s t a u r a n t s and Hotels Index (0.37 p e r c e n t a g e points), the Food and Non-alcoholic Beverages Index (0.34 percentage points) and the Alcoholic Beverages and Tobacco Index (0.30 percentage points). These were mainly due to higher prices for restaurant services, vegetables and cigarettes respectively. The main downward impacts were recorded in the Transport Index (0.31 percentage points) and the Communication Index (0.11 percentage points), mainly due to lower fuel prices and cheaper mobile phones respectively. The twelve-month moving average rate was 1.1 per cent. Eurostat data shows that in October 2015, compared with S e p t e m b e r 2015, seasonally adjusted industrial production rose by 0.6% in the euro area (EA19) and by 0.5% in the EU28. In September 2015 industrial production fell by 0.3% in the euro area and remained stable in the EU28. In October 2015 compared with October 2014, industrial production increased by 1.9% in the euro area and by 2.4% in the EU28. Money Market Report for the week ending December 11, 2015 ECB Monetary Operations On Monday, December 7, the European Central Bank (ECB) announced its weekly main refinancing operation (MRO). The operation was conducted on Wednesday, December 9, and attracted bids from euro area eligible counterparties of €69.09 billion, €0.72 billion lower than the bid amount of the previous week. The amount was allotted in full at a fixed rate equivalent to the prevailing MRO rate of 0.05%, in accordance with current ECB policy. Also on Wednesday, December 9, the ECB conducted a seven-day US dollar funding operation through collateralised lending in conjunction with the US Federal Reserve. This operation attracted bids of $0.14 billion, which was allotted in full at a fixed rate of 0.69%. On Friday, December 11, the ECB conducted the sixth Targeted Longer Term Refinancing Operation, as announced in the press release of Thursday, June 5, 2014. This operation attracted bids of €18.30 billion, which was allotted in full at a fixed rate of 0.05%. Domestic Treasury Bill Market In the domestic primary market for Treasury bills, the Treasury invited tenders for 91-day and 182-day bills maturing on March 10, 2016, and June 9, 2016, respectively. Bids of €18.00 million were submitted for the 91- day bills, with the Treasury accepting €15.00 million, while bids of €15.00 million were submitted for the 182- day bills, with the Treasury accepting all bids. Since €24.30 million worth of bills matured during the week, the outstanding balance of Treasury bills increased by €5.70 million, to stand at €247.05 million. The yield from the 91-day bill auction was -0.086%, up by 4.4 basis points from bids with a similar tenor issued on December 3, 2015, representing a bid price of 100.0217 per 100 nominal. The yield from the 182-day bill auction was -0.100%, down by 4.9 basis points from bids with a similar tenor issued on November 26, 2015, representing a bid price of 100.0506 per 100 nominal. During the week under review, there was no trading on the Malta Stock Exchange. On Tuesday the Treasury invited tenders for 91-day and 273-day bills maturing on March 17, and September 15, 2016, respectively.