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Malta: Services industry leads recovery in Q3

The Maltese economy experienced a strong recovery over the Summer months, despite growth falling slightly short when compared to the drop experienced during the same timeframe last year. During the…

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Joint Malta Chamber and CBM seminar discusses the permanency of the current inflationary trends

Inflation has become extremely topical after many years of price stability within the Euro zone. “The bottlenecks created by the deep recession caused by the pandemic and the relatively quick…

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Economy is recovering, but risks remain – Central Bank

Although the economy is recovering, uncertainties surrounding the pandemic remain, posing some downside risks for the financial system, an Interim Financial Stability Report by the Central Bank of Malta found.…

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Fitch Affirms Malta At ‘A+’ Outlook Stable

Global credit rating agency Fitch has affirmed Malta's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'A+' with a Stable Outlook. The Stable Outlook reflects Fitch's expectation that GDP growth will…

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The Asset Recovery Bureau – a vital cog in Malta’s fight against financial crime

“Ensuring crime does not pay by denying and depriving persons of acquired criminal assets.” As the young team at Malta’s Asset Recovery Bureau’s set off for their working day from…

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MGC Pharma to produce medication to treat inflammation caused by Covid-19 in Malta

A multi-million investment by MGC Pharma was inaugurated today during a ceremony to mark the company's decision to develop its facility in Malta. The 4 million investment was carried out…

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Tax amnesty to defaulters puts Malta’s efforts to fight tax crime at risk – MIA

The Malta Institute of Accountants has noted with disapproval the introduction of Legal Notice 419 of 2021, which allows taxpayers to offset tax payable on property transfers against their existing…

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Businesses that honour their tax obligations are being discriminated against, Chamber says

The Malta Chamber of Commerce, Enterprise and Industry has expressed its opposition to a government decision to allow those having have tax arrears that were due by January 2021 to…

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The Malta Chamber launches Rediscover – A New Vision for the Tourism Industry in Malta

Tourism Operators Business Section calls for industry renewal as it puts forth 125 recommendations. Today the Tourism Operators Business Section at The Malta Chamber of Commerce, Enterprise and Industry with…

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Protecting jobs and our planet are not conflicting objectives – MEA

SME National Forum 2021 brings together industrial, political and social leaders in discussing SMEs and Green Growth: The Journey Ahead “The protection of jobs and our planet should not be…

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Shopify plug-In Introduced To eCabs’ FastDrop Platform

As Shopify continues to establish itself as one of the most used eCommerce platforms in Malta by high-volume merchants, eCabs’ FastDrop has plugged the platform into its FastDrop app to…

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BOV registers €46.5 million profit in first 9 months of 2021

Profit before Tax for the BOV Group for the third quarter of 2021 amounted to €20.6 million with profit before tax for the first nine months of 2021 totaling €46.5…

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Singapore fuel oil imports from Malta at a three-year high

Singapore residual fuel oil inventories rose 0.5% in the week ended Oct. 27, marking four consecutive weeks of stock build-up, as weekly net import volumes dropped but were near the…

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Exiting the Grey-List – Malta Institute of Accountants

by the Malta Institute of Accountants It has only been a couple of months since Malta reeled from the news that it had been grey listed by the global money…

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SMEs National Forum 2021 to tackle the Journey Ahead for SMEs in the context of Green Growth

For decades, delivering economic growth and sustainable development were seen as conflicting objectives that needed to be balanced for the benefit of humanity. As citizens become increasingly aware of irreversible…

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Misco publishes 36th edition of its annual ‘Salaries and Benefits Report’, 2021 Sees Average Salary Increase of 2.5%

The average salary increase observed in 2021 was of 2.5%, and salaries have, in some areas, remained fairly stable whilst in some other areas an increase has been observed, particularly…

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MDB Covid-19 Guarantee Scheme extended until 31 December 2021

The Malta Development Bank (MDB) is pleased to announce that the European Commission, in its decision of 15 October 2021, has approved the prolongation of the Bank’s existing Covid-19 schemes…

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Survey finds Malta’s attractiveness to foreign investors declines 40% in last two years

The annual attractiveness survey carried out by EY Malta revealed that the number of investors who find the country attractive from a business viewpoint collapsed by 25% compared to last…

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Malta Maritime Forum welcomes Cabinet approval of proposal for National Maritime Authority

The Malta Maritime Forum (MMF) today welcomed Minister Ian Borg’s announcement that Cabinet had given the green light for Transport Malta to be de-merged into separate entities for road transport,…

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Malta Institute of Accountants holds its 57th AGM, elects seven members to Council

David Delicata appointed as new MIA President The Institute of Accountants has held its 57th Annual General Meeting on Friday 1st October, during which it elected seven fellows of the…

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Chamber welcomes National Employment Policy, says it identifies the key challenges of our labour market

The Malta Chamber has welcomed the recommendations proposed in The National Employment Policy launched yesterday by Finance Minister Clyde Caruana, one which identifies the key challenges in our labour market.…

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62+ Malta Government Bonds oversubscribed, Treasury to allocate €100 million

The Maltese Treasury said on Tuesday the total value of applications for this year’s issue of the 62+ Malta Government Savings Bond received from new applicants and applicants who already…

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FATF Executive Secretary resigns

David Lewis, the executive secretary of the Financial Action Task Force (FATF) was reported to have resigned his position. According to various reports, this raised questions about the ability of…

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PB GROUP Appoints New Board of Directors

PB Group has announced the appointment of its new Board of Directors. The company’s founder, John Naudi, will be leading the Board as the new Executive Chairman. David R. Busuttil,…

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Financing young people’s dreams through EU funding

Young people are considered as one of the most valuable assets for the European Union as they represent an important source of skills, creativity and dynamism, qualities which are fundamental…

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Malta Chamber wants Opposition to advocate accountability, transparency and governance

The Malta Chamber presents its pre-budget recommendations to the Opposition “We believe that in the current economic climate, the Opposition has a stronger role to play not least in advocating…

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EU insurance regulator calls for independence of national supervisory authorities

The European Insurance and Occupational Pensions Authority (EIOPA) has published criteria for assessing the independence of supervisory authorities. In a statement, the EU regulator said that he independence of supervisory…

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Malta must address its insularity issues for Maltese businesses to be competitive – SME Chamber

The Malta Chamber of SMEs has been highlighting the big problem Maltese businesses have with the inability to compete both outside Malta and in Malta itself, with online purchases. The weakness in being competitive with prices comes as a result…

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Air Malta launches Winter Schedule linking Malta with 15 major airports

Air Malta will start operating its Winter flight schedule on the 31st October with a planned 67 return direct weekly scheduled services to 15 major European Airports. London and Paris…

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Malta, Croatia only two EU countries to experience negative growth in Q2

In the second quarter of 2021, seasonally adjusted GDP increased by 2.2% in the euro area and by 2.1% in the EU compared with the previous quarter, according to an…

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Air Malta Adopts Gender Neutral Language

Diversity and equality are core values at Air Malta, and the airline welcomes all its customers, irrespective of their nationality, race, political ideology, religion, and gender. In an internal communication…

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NOUV invests in new, bigger offices, doubles workforce

Notwithstanding the pandemic, the past eight months have been very active and positive for consulting firm NOUV. During this period, the company doubled its workforce, moved to new and larger…

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MDB to launch a new EU funded scheme for students

Following the success of the Further Studies Made Affordable (FSMA) scheme, through which to-date 219 students were able to undertake specialised studies in various disciplines, the Managing Authority (MA) has…

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Malta: Industry and services register positive sentiment, but construction, retail turn negative

Business Sentiment was positive in industry and services as well as among consumers, an Economic Update by the Central Bank of Malta shows. However, it turned negative in the construction…

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Central Bank revises 2021 growth projection for Maltese economy upwards

The Central Bank of Malta said today that it expects that Malta's gross domestic product (GDP) will grow by 5.1% in 2021, by 5.9% in 2022, and by 4.7% in…

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GO Registers Revenue Increase In First Six Months Of 2021

The Board of Directors of GO p.l.c. has approved the group’s interim financial statements for the period January to June 30, 2021. Despite the challenging economic climate brought about by…

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A new model for EU tourism emerges from the pandemic

If tourism is Europe's oil, the pandemic has stopped it pumping.Europe, which accounts for 51% of the world tourism market, has suffered a collapse in demand that threatens 6.6 million…

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Express Trailers Signs MOU With Malta’s Customs

Express Trailers today signed a Memorandum of Understanding with Malta Customs. This agreement, a first with a Maltese logistics company, is an initiative that will seek to establish a stronger…

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Debono Group companies awarded Equality Mark Certification for efforts to ensure gender equality

The National Commission for the Promotion of Equality (NCPE) has certified a number of companies within the Debono Group family with the prestigious Equality Mark Certification, in demonstration of the…

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300 people to be allowed in seated events / Malta News Briefing – Thursday 5 August 2021

Latest Update- News Portal Briefing Times of Malta reports that Marsascala residents have spent long hours in darkness and stifling heat after a power cut late in the night was…

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Malta: Financial Arbiter handled over 5,000 cases last year

The Malta Business Weekly publishes an interview with Financial Arbiter Reno Borg who said that more than 5,000 customers sought assistance from his Office last year. Dr Borg said that…

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MDB’s impact on the ground exceeds half a billion euro since inception

The Malta Development Bank has provided support to over half a billion euro in loans since the first scheme was launched back in late 2018. These loans were taken up…

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Dragonara Casino and the Government of Malta sign new casino concession agreement

The Government of Malta, through the Ministry for the Economy and Industry and Dragonara Gaming Limited have signed a new 10-year casino concession agreement, commencing on August 1st, 2021. The…

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Malta: IMF calls for tapering of business support measures

Most of the Covid-19 support measures are set to expire by the end of 2021, and according to a report by the International Monetary Fund, as economic growth gains momentum,…

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Expenditure on R&D in Malta barely exceeds half a point of GDP

In 2019, total expenditure on Research and Development amounted to €80.0 million, or 0.6 per cent of GDP, reflecting an increase of €5.4 million, or 7.3 per cent, was registered,…

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Malta Maritime Forum Presents a Maritime-Centred Electoral Manifesto to Malta’s Political Leaders

The Malta Maritime Forum has presented a maritime-centred electoral manifesto to Malta’s political leaders. The above encompassed the flagship recommendations of the Malta Maritime Forum in a special document submitted…

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15

Jul

Language Schools Left In Limbo, Brief Legal Notice issued Just Hours Before Official Closing

Following a meeting with government yesterday morning, FELTOM schools still eagerly await a response from government with respect to the outcome of the meeting. While the abrupt, forced closure of…

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Malta to allow travelers vaccinated with Made in India AstraZeneca jabs

Malta has changed its travel advice to allow anyone who’s been administered an Astra Zeneca vaccine into the country, regardless of where the vaccine was manufactured. This was announced by…

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International General Insurance Set Up in Malta To Access Europe

International General Insurance Company (Europe) SE (“IGI Europe”), a subsidiary of Bermuda-based International General Insurance Co. Ltd., has been granted licensing by the Malta Financial Services Authority (“MFSA”) and is…

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GO Launches Multi-Million Connectivity Project Linking Malta to France and Egypt

GO today announced an investment of €25 million in a 3rd submarine cable, which has been named as ‘LaValette’. This forms part of the global PEACE System (Pakistan East Africa…

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Rising Delta virus, absent Brits dampen Europe’s tourism hopes

While not a complete wash-out, the summer tourism season vital to southern Europe's economies will be less than sizzling as the Delta coronavirus spreads and travel hurdles keep British and…

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01

Jul