Malta will not block joint Eurobonds for defence investments – FinMin
Finance Minister Clyde Caruana said Malta has secured the right to opt out of any EU defence spending obligations. Addressing parliament on Wednesday, he stressed that while Malta respects other member states’ positions, it expects its constitutional neutrality to be respected in return—a stance widely acknowledged by EU finance ministers. EU leaders recently agreed to boost defence spending by €800 billion to counter potential threats from Russia. Since then, finance ministers have debated funding options, including tax increases, welfare cuts, or easing debt rules. Caruana reiterated Malta’s stance: it has no objections to EU defence investment and will not block joint bonds, but it insists on remaining completely uninvolved. Even Central and Eastern European states support this position, he noted. Meanwhile, larger countries remain divided on how to share defence costs. (Times of Malta)
APS reports €23.8M Pre-Tax Profit for 2024
APS Bank plc posted a pre-tax profit of €23.8 million at Group level and €22.5 million at Bank level for 2024. While performance improved in the second half of the year, profits fell short of 2023 figures (€30.2 million at Group level, €27.8 million at Bank level) due to narrowing net interest income. Despite competitive pressures on asset yields and funding costs, the Bank reported strong fundamentals, supported by balance sheet growth and ongoing digital transformation efforts to enhance customer experience. (Maltatoday)
Financial sector offers highest salaries
Malta closed 2024 with over 325,600 people in employment, a 4.2% increase over the year, according to National Statistics Office estimates. Employment covered two-thirds of the population aged 15 and over. Most workers held full-time jobs, while 36,354 had part-time work as their primary employment. Self-employed individuals made up 13.7% of the workforce, mostly without employees. The financial and insurance sectors offered the highest salaries, with average monthly wages ranging from €3,170 for managerial roles to €1,239 for elementary jobs. Over one-third of workers held a tertiary education. Unemployment stood at 2.9% in Q4, with retirement being the main reason for inactivity. (The Malta Independent)
