PM Abela asks MCCF to reconsider Binance donation, says funds can be put to good use
Prime Minister Robert Abela has called on the Malta Community Chest Fund to reconsider its decision to reject a $39 million cryptocurrency donation from Binance. Speaking to the press, Abela said he was concerned the MCCF was being overly strict and that the funds could have been put to good use for patients. He noted Malta has robust anti-money laundering and counter-financing of terrorism systems, adding that the country has passed international scrutiny successfully. Abela suggested that any concerns over the origin of the funds could be responsibly investigated. His comments contrast with President Myriam Spiteri Debono, who defended the MCCF’s decision, describing the donation as “bogus” and highlighting Binance’s controversial international reputation. (Times of Malta)
Croatian Arrested Over €9 Million Cocaine Haul in Gozo
A 45-year-old Croatian national has been arrested in Malta after police discovered approximately 76kg of suspected cocaine, valued at around €9 million. The seizure followed several days of surveillance of suspicious activities between Malta and Gozo. Police initially intercepted a vehicle at Mġarr Harbour, uncovering 18kg of suspected cocaine, and subsequent searches of the suspect’s residence in Xagħra revealed an additional 58kg, along with multiple vehicle registration plates. Magistrate Dr Simone Grech has launched a magisterial inquiry, and the man is expected to appear in the Gozo Court. (Maltatoday)
SME Chamber Urges Caution Over Four-Day Working Week
The Malta Chamber of SMEs has urged a “mature dialogue” and evidence-based research on proposals for a four-day working week, warning such measures may have negative effects on micro and small businesses. Representing over 99% of Malta’s economy, the chamber cited potential impacts on productivity, competitiveness and operational costs. It stressed that while employee wellbeing is vital, any reduction in working hours must be informed by local economic realities. The intervention follows proposals by opposition leaders and trade unions to pilot reduced hours. The chamber highlighted that for very small businesses, a 32-hour week could equate to effectively losing a staff member, potentially affecting sustainability and service delivery. (The Malta Independent)
