Updated 1105
Chamber Calls for Economic Shift towards Productivity and Competitiveness: The Malta Chamber has called for a long-term economic vision focused on productivity, competitiveness and stronger governance, warning that Malta’s current economic model has reached its limits. During a meeting with Opposition Leader Alex Borg and PN representatives, Chamber President William Spiteri Bailey said the country needed to move away from growth driven mainly by population increases and towards a value-based economy built on innovation, efficiency and quality. He stressed that competitiveness depended not only on taxation but also on effective institutions, infrastructure, energy security, education and digital transformation. Borg agreed that future development should focus on improving quality of life, while highlighting the need for investment in energy, transport and artificial intelligence to boost productivity. (The Malta Independent)
BOV Reports €119.8m Pre-Tax Profit as Balance Sheet Strengthens: Bank of Valletta Group reported a €119.8 million pre-tax profit for the first half of 2026, down from €135.1 million a year earlier, citing the absence of exceptional gains and higher impairment charges. The bank said core performance remained strong, with operating income rising to €251.3 million and net interest income reaching €207 million. Total assets grew to over €17.6 billion, while lending and deposits increased. The board approved an interim gross dividend of €51.6 million, representing a 42.5% payout ratio. (Newsbook)
Malta Warns Uber of Licence Suspension over New Y-Plate Rules: Transport Minister Chris Bonett has warned that Transport Malta will suspend Uber’s operating licence unless the company complies with new Y-plate regulations that took effect on Wednesday. Bonett said Uber had failed to implement required changes, including removing restrictions that excluded small operators and self-employed drivers without a legal basis. He said Transport Malta would take all legal steps available if non-compliance continues. The new rules also give Transport Malta powers to enforce a 12-hour daily driving limit through real-time monitoring, with penalties for breaches including fines and possible licence suspension. (The Times of Malta)
EU Approves Malta’s €60.6m Social Climate Plan to Support Green Transition: The European Commission has approved Malta’s €60.6 million Social Climate Plan for 2026–2032 to help vulnerable households, transport users and small businesses adapt to the shift to cleaner energy and transport. The plan is funded by €45.4 million from the EU and €15.2 million from the Maltese government. Measures include home energy-efficiency upgrades, renovations to public social housing, expanded community transport services, and support for small businesses to adopt electric vehicles and charging infrastructure. The plan aims to reduce energy poverty and cut emissions by the equivalent of 3,500 tonnes of CO₂. (Maltatoday)
Morning Briefing
Residents demand stronger enforcement as quality of life concerns grow
A coalition of residents’ groups and civil society organisations has called on authorities to strengthen enforcement, warning that Malta’s quality of life is being increasingly affected by illegal occupation of public spaces, excessive noise, blocked pavements and restricted access to coastal areas. Leħen ir-Resident, representing a number of local associations, said that while recent enforcement actions were welcomed, isolated interventions were not enough. The group urged authorities to apply the law consistently across all localities, arguing that residents should not have to repeatedly report the same breaches without effective action. It also called for greater protection of public spaces and the coastline, insisting that residents have a right to peaceful neighbourhoods, accessibility and respect for the rule of law. (Times of Malta)
Schembri questioned over Fenech contacts and pardon discussions
Former OPM chief of staff Keith Schembri continued giving evidence in the Daphne Caruana Galizia murder case, facing questions over his contacts with businessman Yorgen Fenech in the weeks leading up to Fenech’s arrest. Schembri told the court that Fenech had sought support from him and then Prime Minister Joseph Muscat after finding himself under pressure, adding that he had tried to offer advice and encouragement. He denied providing information from the murder investigation to Fenech. The court also heard further questioning on discussions surrounding Melvin Theuma’s presidential pardon, with Schembri insisting he had not been involved in the decision-making process. Schembri also claimed that in his opinion, Fenech could not have acted alone. (Maltatoday)
Chamber calls for economic shift towards productivity and competitiveness
The Malta Chamber has called for a long-term economic vision focused on productivity, competitiveness and stronger governance, warning that Malta’s current economic model has reached its limits. During a meeting with Opposition Leader Alex Borg and PN representatives, Chamber President William Spiteri Bailey said the country needed to move away from growth driven mainly by population increases and towards a value-based economy built on innovation, efficiency and quality. He stressed that competitiveness depended not only on taxation but also on effective institutions, infrastructure, energy security, education and digital transformation. Borg agreed that future development should focus on improving quality of life, while highlighting the need for investment in energy, transport and artificial intelligence to boost productivity. (The Malta Independent)
