Updated 1403 – Fearne resigns
Deputy Prime Minister Chris Fearne has stepped down from his government position due to facing fraud charges linked to the hospitals deal. Fearne announced his resignation via social media, stating that despite feeling unjustly targeted, he felt obligated to prioritize the welfare of the people. In a letter addressed to Prime Minister Robert Abela, Fearne expressed his concerns about the prolonged legal proceedings and the need for a more effective governance system for the country. Fearne, along with Edward Scicluna and others, is accused of fraud, misappropriation, and fraudulent gain in connection with the hospitals’ deal. He asserted his innocence, mentioning that he knows his actions as a minister and is confident that the court will vindicate him. (Times of Malta)
Updated 1130
OSCE to investigate pre-electoral cheques
The OSCE revealed that during their upcoming election observation later this month, they will investigate pre-election cheques and other significant election-related matters. In 2022, the OSCE criticised the government’s distribution of tax refund cheques before the election, stating that it did not adhere to international standards and good practices and could blur the distinction between party and state. When questioned about their stance on the current situation, where voters are once again receiving cheques just before polling day, an OSCE representative mentioned that their assessment from 2022 remains valid but may not directly apply to the current scenario. The OSCE spokesperson also mentioned that they will deploy analysts to Malta as part of their election observation for the upcoming European Parliament elections, focusing on various crucial election-related issues, including pre-election cheques. (Times of Malta)
XBRL chooses Malta for its 32nd international conference
XBRL, the open international standard for digital business reporting, has chosen Malta for its 32nd Europe Days International Conference being held later this month. XBRL is used around the world for financial and non-financial reporting in more than 50 countries. It is also a fundamental tool in the provision of ESG disclosures. Particularly, the EU’s Corporate Sustainability Reporting Directive (CSRD), makes XBRL reporting mandatory, to provide investors and stakeholders with more meaningful and comparable information. The CSRD was unveiled as part of a sustainable finance package aimed at promoting sustainable practices. The conference is being supported by FinanceMalta with Malta’s Eunoia Limited, a member of XBRL Europe and FinanceMalta. Read more here.
Malta fails to qualify for Eurovision final
Sarah Bonnici won’t be competing in the Eurovision Song Contest final on Saturday as her song “Loop” was eliminated during Thursday’s semi-final round. Although she was chosen to open the show that night, her performance didn’t secure a spot in the top 10 based on the votes received. The countries that qualified for the final from Thursday’s semi-final were Latvia, Austria, Netherlands, Norway, Israel, Greece, Estonia, Switzerland, Georgia, and Armenia.
Morning Briefing
SMEs highlight inflation, overpopulation and bad governance as biggest problems
Small and medium-sized enterprises have highlighted rampant inflation, overpopulation and a deficiency in good governance as the primary challenges currently faced by the country, requiring government attention. The Malta Chamber of SMEs has also noted that businesses pointed out the increasing number of EU regulations which are not aligned with Malta’s needs and have had adverse effects on the economy. This data comes from the most recent SME Barometer, a survey reflecting the views of 400 anonymous participants and the overall sentiment of SMEs in this quarter. (The Malta Independent)
Court grants Muscat access to Vitals inquiry
A court ruling on Thursday stated that Joseph Muscat will be granted access to sections of the Vitals magisterial inquiry that pertain to him. Judge Giovanni Grixti instructed the Attorney General to provide Muscat with all documents from the inquiry’s records that mention the former prime minister, spanning from the initial mention of his name in the case until the investigation’s conclusion. The judge emphasized that a fair assessment couldn’t be made without reviewing these documents. This decision stems from a case initiated by Muscat, who alleged that his rights were violated by appointing a specific magistrate to investigate him. The inquiry documents related to this case, ordered to be released, will be retained by the court and shared only with the involved parties, as per the judge’s instructions. (Times of Malta)
PM says Govt committed to invest in startup ecosystem
During the inaugural EU-Startups Summit in Valletta, Prime Minister Robert Abela outlined the Government’s commitment to fostering a sustainable economy. He emphasized the support provided to the local startup ecosystem, aiming for economic growth characterised by innovation and quality. Malta Enterprise is backing this summit, which brings together agencies, local entrepreneurs, and international business owners. In the presence of numerous European entrepreneurs and investors, PM Abela elaborated on how this economic model will enhance productivity, leading to higher-paying jobs, increased wealth, and overall prosperity. He highlighted Malta’s success in attracting new economic niches over the years, such as Artificial Intelligence, FinTech, robotics, and aviation, positioning the country for continued growth and development. (TVM)
