NewsUpdate
Polidano released on police bail
Charles Polidano has been released on police bail after being taken in for questioning over suspected money laundering and corruption on Friday. The construction tycoon, known as Iċ-Ċaqnu, was arrested at his home and taken in for questioning at the police’s Financial Crime Investigation Department. His son Gordon was also arrested. Both have been released on police bail. Polidano Group categorically denied any wrongdoing, saying it was assisting the authorities to verify payments made to the company in 2014, involving a public deed. “The Group is confident the authorities will be satisfied once these verifications have taken place. The Group will continue to cooperate fully with the authorities,” Polidano Group said. – Times of Malta / Malta Today
Infrastructure Malta gets €21 million EU funds for Luqa and Kirkop projects
Infrastructure Malta said Saturday that it obtained €21.8 million in European funds for its road projects at Luqa and Kirkop. The agency announced on Facebook that this week the European Commission DG Mobility and Transport awarded Infrastructure Malta €21.8 million EU funds for Luqa Junction Project and Kirkop Tunnels and Airport Intersection Project. – Malta Independent
74 year old man injured following fall from ladder
A man was critically injured on Saturday morning when he fell off a ladder, the police said. The accident took place in a residence in Cameron Street, Gzira, at 8.30am. The man, aged 74, and resident in Gzira, fell off a ladder. – Malta Independent
Covid-19 Update
The number of active Covid-19 cases has shot up again, to near 7,000, as 583 new cases were reported Saturday. Three more deaths were recorded, taking the tally to 747. Figures released by the health authorities show that the number of active cases is now 6,967, up from 6,666 on Friday.
The last time Malta had more than 7,000 cases was on 18 April.
Morning Briefing
Inflation climbs further in June
Inflation continued to increase, with Malta registering 6.1% in June, an increase of 0.3% over May. Back in January, it was 2% lower. Yet, this rate remains lowest in the eurozone. According to Eurostat, the cost of living around the 19-member nations reached 8.6%.
Government to raise new debt as stock issue announced
The Accountant General has announced the issue of one hundred fifty-million-euro (€150,000,000) Malta Government Stocks, with rates varying from 2.60% for stocks maturing in 2028 to 3.4% for those taking up to 2042. Applications from wholesale investors in the form of sealed bids (auction). The price of each stock will be announced next week.
Ic-Caqnu and Son arrested over money-laundering and corruption
Charles Polidano and son arrested over money laundering and corruption : The Times reports that construction tycoon Charles Polidano was arrested on Friday morning and taken in for questioning over suspected money laundering and corruption. Polidano, known as Iċ-Ċaqnu, was arrested at his home and taken in for questioning at the police’s Financial Crime Investigation Department. His son Gordon was also arrested. Police sources told Times of Malta that the construction magnate had been taken in following a lengthy investigation into suspected money laundering and corruption. He is suspected of having corrupted a senior official at a large entity through the sale of a property.
Air Malta Transfers Six Amsterdam Flights to Rotterdam Airport
Due to the current situation affecting ground service capabilities in Amsterdam Schiphol Airport, Air Malta has been compelled to transfer six flights scheduled to operate between Malta and Amsterdam Schiphol Airport (AMS), to instead operate to Rotterdam Airport (RTM). Rotterdam Airport is the closest airport to Amsterdam (other than Schiphol).
Covid-19 update: There were 704 new cases of Covid-19 as the number of active cases now stands at 6,666.
