FROM BUSINESS NEWS

FAST-GROWING MALTESE ECONOMY SET TO MODERATE IN 2017 – IMF

22nd February 2017


Malta is one of fastest-growing economies in Europe, but growth is set to moderate in 2017 according to a report by the International Monetary Fund’s executive board.

FROM BUSINESS NEWS

FITCH CONFIRMS MALTA’S ‘A’ RATING, UPGRADES FORECAST

22nd August 2016

Ratings agency Fitch has confirmed Malta's 'A' rating while upgrading its forecast from 'stable' to 'positive'.

FROM BUSINESS NEWS

MALTA LAGS BEHIND OTHER IGAMING CENTRES IN TERMS OF PAY - SURVEY

20th February 2017

Executive pay in Malta, while competitive, is still behind that of other iGaming centres such as London and Gibraltar.

FROM BUSINESS NEWS

EQUAL TREATMENT FOR ISLANDS IN THE EUROPEAN UNION

16th February 2017

Writing in the Times of Malta, Malta Chamber President Anton Borg argues in favour of a level playing field between islands in the European Union. The Chamber's position is strengthened by a commissioned study that quantifies the added costs incurred by operators in Remote Small Island States.

FROM COMMERCIAL NEWS

NEW REGUS CENTRE INAUGURATED IN ST JULIAN'S

16th February 2017

Workspace provider Regus has inaugurated its second centre at the Dragonara Business Centre in St Julian’s, offering space for 161 persons.

FROM BUSINESS NEWS

FITCH AFFIRMS MALTA'S RATING, GIVES POSITIVE OUTLOOK

20th February 2017

Malta's long-term foreign and local currency issuer default ratings (IDR) have been affirmed at 'A' with a positive outlook by Fitch Ratings

FROM BUSINESS NEWS

12 EU MEMBER STATES HAVE A LOWER MINIMUM WAGE THAN MALTA

13th February 2017


12 European Union member states have a minimum wage that is lower than Malta's, according to new figures published by Eurostat.

FROM BUSINESS NEWS

FDI FLOWS INCREASE BY €1.9BN IN FIRST HALF OF 2016

14th February 2017

During the first six months of 2016, foreign direct investment (FDI) flows in Malta went up by €1.9 billion, equivalent to an increase of €455.6 million over the corresponding flows in 2015, according to the National Statistics Office (NSO).

FROM BUSINESS NEWS

KENNETH FARRUGIA APPOINTED FIAU DIRECTOR

14th February 2017

Kenneth Farrugia has been appointed Director of the Financial Intelligence Analysis Unit (FIAU), six months after the resignation of former director Manfred Galdes.

FROM BUSINESS NEWS

MALTA RANKED SEVENTH-BEST PLACE IN EUROPE FOR LGBT WORKERS

14th February 2017

Malta is the seventh-best European country for LGBT workers to live in, according to a study by French employment agency Expert Market.

FROM BUSINESS NEWS

MALTA'S ECONOMY EXPECTED TO REMAIN ABOVE EU AVERAGE

13th February 2017

While Malta’s economic growth may have settled down from the exceptional levels of 2014 and 2015, it is expected to remain well above the EU average, according to the European Commission’s winter forecasts.

FROM BUSINESS NEWS

INTEGRATING ISLANDS IN THE EUROPEAN INDUSTRIAL VALUE CHAIN

7th February 2017

Hearing on the importance of integrating islands in the European Industrial value chain finds that the potential effects of moves of Malta-based economic activities out of the country, could lead to exports from Malta going down by €451,3 million, representing 18,9% of overall exports.

FROM BUSINESS NEWS

CHAMBER PRESENTS REPORT ON INDUSTRY IN REMOTE ISLAND STATES TO PM

9th February 2017


Report outlines potential effects of industry pulling out of Malta would lead to exports dropping by up to €451,3 million or 19% reducing Malta’s GDP by up to 5,1%.

FROM COMMERCIAL NEWS

GORDON CORDINA NAMED NON-EXECUTIVE DIRECTOR AT HSBC MALTA

9th February 2017

Gordon Cordina has replaced Juanito Camilleri as non-executive director of HSBC Bank Malta.

FROM BUSINESS NEWS

11 MALTESE COMPANIES BATTLE IT OUT FOR NATIONAL CHAMPION STATUS

8th February 2017

Eleven companies from Malta will compete for the title of National Public Champion in this year’s European Business Awards, sponsored by RSM. The public vote is now open.

FROM BUSINESS NEWS

MALTESE HOTELIERS WORRIED ABOUT BREXIT

7th February 2017

More than a quarter of Malta’s hoteliers have said that Brexit is their topmost concern, according to PwC Malta’s latest economic barometer.

FROM BUSINESS NEWS

MALTA RANKED AS TOP ENGLISH-SPEAKING DESTINATION FOR EXPATS

2nd February 2017

Malta is the top English-speaking destination for expats, according to global expat community InterNations.

FROM BUSINESS NEWS

EU REACHES DEAL TO ELIMINATE ROAMING FEES

1st February 2017

The European Union has reached a deal that will allow people to use their mobile phones across the 28-country bloc without paying roaming fees.

FROM BUSINESS NEWS

MALTA RECEIVED NEARLY TWO MILLION VISITORS IN 2016

1st February 2017

Malta received nearly two million tourists last year, an increase of 10.2 per cent over 2015, according to the National Statistics Office (NSO).

FROM BUSINESS NEWS

MALTA'S ECONOMY CAN EMERGE EVEN STRONGER IN 2017 – HSBC MALTA CEO

31st January 2017

The high level of uncertainty in global and European economies should not hold back Malta's potential to emerge even stronger in 2017, HSBC Malta CEO Andrew Beane said.

FROM BUSINESS NEWS

QUICK AND FAIR AGREEMENT ON BREXIT NEEDED

30th January 2017

“What Brexit means for Business”, an event organised by the Malta Chamber of Commerce, Enterprise and Industry.

FROM BUSINESS NEWS

NEW SYSTEM SIMPLIFIES VAT-FREE SHOPPING IN MALTA

30th January 2017

Non-EU nationals claiming VAT on large purchases bought in Malta will now find it easier to apply for their refund, Finance Minister Edward Scicluna said today.

FROM BUSINESS NEWS

FANTASY SPORTS GIANT DRAFTKINGS GETS MALTA LICENCE

30th January 2017

Draftkings – one of the two biggest companies in the fantasy sports industry – has been granted a controlled skill games licence, allowing it to operate in Malta and many other European Union states.

FROM INTERVIEWS

DRAWING A LINE IN THE SAND

29th January 2017

Dr John Vassallo, former Ambassador of Malta to the EU, President of the Malta Business Bureau, member of the Council of Europa Nostra and Strategic Adviser to the Microsoft Corporation speaks out about striking a balance between economic growth and environmental protection.

FROM COMMERCIAL NEWS

TECH TRENDS 2017: THE HOTTEST NEW GADGETS

28th January 2017 – Marie-Claire Grima

From virtual reality and gaming to smart homes, we look at the latest gadgets on the market for business, leisure or both.

FROM BUSINESS NEWS

UNLICENSED HOLIDAY ACCOMMODATIONS FACE LEGAL CONSEQUENCES

27th January 2017

Legal proceedings were initiated against 77 unlicensed holiday accommodations during 2016, according to Tourism Minister Edward Zammit Lewis, who said the government would not allow Malta’s reputation as a quality tourist destination to be tarnished.

FROM BUSINESS NEWS

BUSINESS STAKEHOLDERS DISCUSS GEO-BLOCKING AND E-COMMERCE

27th January 2017

The phenomenon of geo-blocking was discussed on Friday in a stakeholders’ dialogue with MEP Therese Comodini Cachia, organised by the Malta Business Bureau and the European Parliament Information Office.

FROM BUSINESS NEWS

6PM ACQUISITION TO GO FORWARD AS SHAREHOLDERS SUBMIT ACCEPTANCES

27th January 2017

Maltese software company 6PM has received more than 98 per cent of acceptances from its shareholders, pacing the way for its acquisition by Idox.

FROM BUSINESS NEWS

MALTESE FLAG LAUNCHES NEW GUIDELINES FOR PRIVATE YACHTS

27th January 2017

Transport Malta has introduced new guidelines that allow super yachts over 500gt to carry more than 12 guests, without needing to adhere to SOLAS or the PYC.

FROM BUSINESS NEWS

BDI RECOGNISE THE MALTA CHAMBER'S REGIONAL AID CAUSE

26th January 2017

A high level delegation from the Federation of German Industries (BDI), agreed to support the Malta Chamber’s cause in insisting with the European Union that in terms of its regional aid guidelines, islands should be treated in the same manner, irrespective of whether they are regions or states.

FROM INTERNATIONAL FINANCIAL NEWS

BRITISH GOVERNMENT INTRODUCES BREXIT BILL

26th January 2017

Britain's Brexit Minister David Davis has introduced a bill on triggering Article 50, which will launch Britain's exit from the 28-nation bloc.

FROM BUSINESS NEWS

SOCIAL RIGHTS FIRMLY ROOTED IN COMPETITIVENESS

26th January 2017

The development of a European Pillar Social Rights must be firmly rooted in sustainable competitiveness of the Union rather than a threat to it.

FROM BUSINESS NEWS

MALTA PLUMMETS DEEPER THAN EVER ON CORRUPTION INDEX

25th January 2017

Within a single year, Malta has fallen 10 places on the Corruption Perceptions Index, sinking to its worst ever 47th placing since it started being monitored by Transparency International in 2004.

FROM BUSINESS NEWS

MALTA LOSING €200 MILLION A YEAR DUE TO TRAFFIC - TRANSPORT MINISTER

24th January 2017

Traffic is costing the Maltese economy €200 million every year, a figure which will rise to €1.2 billion by 2050 unless current policies were changed, Transport Minister Joe Mizzi said.

FROM INTERNATIONAL FINANCIAL NEWS

MAY CANNOT TRIGGER BREXIT WITHOUT PARLIAMENTARY APPROVAL

24th January 2017

The UK’s Supreme Court has ruled that government cannot start the Brexit process until it has been voted on in Parliament.

FROM INTERNATIONAL FINANCIAL NEWS

TRUMP PULLS AMERICA OUT OF TPP TRADE DEAL

24th January 2017

President Donald Trump has signed an executive order withdrawing the United States from the Trans-Pacific Partnership (TPP).

FROM BUSINESS NEWS

BREXIT MINISTER BRINGS UP CLOSE RELATIONSHIP BETWEEN MALTA AND UK

23rd January 2017

It was hard to believe that two countries with a relationship as close as Malta and the UK would not be able to reach a mutually-beneficial bilateral agreement once the Brexit negotiations were concluded, according to David Jones, the UK Minister for the Department for Exiting the European Union.

FROM BUSINESS NEWS

SHIREBURN INDIGO PAYROLL SHORTLISTED FOR MCA EBUSINESS AWARDS

27th January 2017

Shireburn Indigo Payroll finalist in the Best B2B Application category

FROM BUSINESS NEWS

TAXES MAY BE RAISED UNLESS PEOPLE KEEP WORKING OVER 65, CENTRAL BANK WARNS

23rd January 2017

The government may have to choose between reducing spending or raising taxes within just 10 years in order to fund its hefty pension bill, the Central Bank of Malta warned.

FROM INTERVIEWS

A CHANGING LANDSCAPE

Marie-Claire Grima – 22nd January 2017

After Malta hit a peak of commercial and investment activity in 2015, the pace has steadied, while the increasing diversity of the economy ensures that the breadth of its stride is maintained. Finance Minister Prof. Edward Scicluna speaks about Malta’s pull factor for young Europeans, developing the national infrastructure according to the needs of the people and the nation’s opportunities as the holder of the Presidency of the European Council for the first semester of 2017.

FROM LIFE & ART

HIT THE OFFICE IN STYLE THIS WINTER

Martina Said – 21st January 2017

70s inspired suits, metallic colours and feminine pleats abound this season, promising chic silhouettes for the office and beyond. Here’s our pick of winter fashion trends.

FROM BUSINESS NEWS

SCICLUNA DEFENDS MALTA'S USE OF 'COMPETITIVE' TAXATION

20th January 2017

Finance Minister Edward Scicluna said that Malta should not be embarrassed to use taxation as a competitive instrument, and that each EU member state should be able to decide on taxation rates for themselves.

FROM BUSINESS NEWS

LLOYD'S CEO RULES OUT MALTA AS POST-BREXIT LOCATION

20th January 2017

Inga Beale, the chief executive of Lloyd’s of London has dismissed Malta as a possible subsidiary outside of London after Britain leaves the European Union.

FROM BUSINESS NEWS

CONFEDERATION OF BRITISH INDUSTRY PRESIDENT AND MALTA PM TO DISCUSS BREXIT

19th January 2017

‘What Brexit means for Business’ to discuss the future of trade relations between the UK and the EU to be organised by the Malta Chamber on 30th January

FROM BUSINESS NEWS

HOUSE PRICES IN MALTA REGISTER HIGHEST QUARTERLY INCREASE IN EU

19th January 2017

House prices in Malta registered the highest increase from the previous quarter from among EU countries for which data is available, according to new figures published by Eurostat.

FROM BUSINESS NEWS

MALTA SHOULD GO AFTER UK BUSINESSES THAT WANT TO STAY IN EU MARKET - BUSUTTIL

18th January 2017

Opposition Leader Simon Busuttil believes that Malta should go after those businesses based in the UK that want to remain in the European market after Brexit.

FROM INTERNATIONAL FINANCIAL NEWS

HSBC TO MOVE STAFF FROM LONDON TO PARIS AFTER BREXIT

18th January 2017

HSBC will move staff responsible for generating around a fifth of its UK-based trading revenue to Paris following Britain's exit from the European Union.

FROM INTERNATIONAL FINANCIAL NEWS

UK TO LEAVE SINGLE MARKET, AIMS FOR EU FREE TRADE DEAL

17th January 2017

Britain will leave both the European Union and the single market, UK Prime Minister Theresa May confirmed today.

FROM BUSINESS NEWS

MALTA STOCK EXCHANGE LAUNCHES THE NATIONAL CAPITAL MARKET STRATEGIC PLAN

16th January 2017

The National Capital Markets Strategic Plan, a structured approach geared towards modernising the Maltese capital markets in order to compete effectively with other European exchanges, has been officially launched.

FROM INTERNATIONAL FINANCIAL NEWS

MAY 'TO REVEAL HARD BREXIT PLANS' IN MAJOR SPEECH ON TUESDAY

16th January 2017

Britain’s Prime Minister Theresa May is expected to give the fullest insight yet into her Brexit plans in a major speech on Tuesday.

FROM INTERVIEWS

MAKING MALTA MORE COMPETITIVE

Martina Said – 15th January 2017

In view of a flourishing economy and positive outlook for 2017, Malta Chamber President Anton Borg says it’s no time to sit back and enjoy the ride. He discusses the 2017 Budget, the serious lack of available human resources on the island, as well as his priorities for his last few months as president.

FROM INTERVIEWS

MEET MALTA'S YOUNG ENTREPRENEURS: MARC VON BROCKDORFF

Sarah Micallef – 14th January 2017

Malta-based start-up Hotjar has gone from strength to strength since its launch in September 2014, registering 200,000+ users in December 2016. Co-Founder and Director of Engineering Marc von Brockdorff spills the beans on how it’s all come about.

FROM BUSINESS NEWS

MALTA'S ECONOMY COULD BE USED AS POLICY TEMPLATE – EU DEVELOPMENT BANK DIRECTOR

13th January 2017

Malta’s economic and social priorities during its EU presidency were perfectly aligned with those of the European Bank for Reconstruction and Development (EBRD), the Bank’s director Johannes Seiringer said.

FROM BUSINESS NEWS

6PM SHAREHOLDERS HAVE UNTIL 24 JANUARY TO ACCEPT IDOX DEAL

12th January 2017

Maltese software company 6PM’s main shareholders have already committed their shares ahead of the planned acquisition by British firm Idox, but the remaining shareholders have until 24 January to accept the deal.

FROM BUSINESS NEWS

MALTA EARMARKED AS LIKELY LOCATION FOR POST-BREXIT LLOYDS SUBSIDIARY

12th January 2017

Malta is emerging as a likely possible location for a subsidiary of Lloyds of London after Brexit, as discussions between the insurance firm, the Malta Financial Services Authority, and a local law firm intensify.

FROM BUSINESS NEWS

MIA PROJECTS €73 MILLION IN REVENUES FOR 2017, REVEALS NEW ROUTES

11th January 2017

Marking a 10 per cent increase in traffic at the end of 2016 over the previous year, Malta International Airport has projected that it will register €73 million in revenue in 2017.

FROM BUSINESS NEWS

ALL SHOPS NOW ALLOWED TO OPEN ON SUNDAYS

10th January 2017

Maltese retail outlets are now allowed to open on Sundays at no extra cost, as long as they remain closed on any another day.

FROM BUSINESS NEWS

BICAL BANK FOUNDER CECIL PACE DIES

10th January 2017

Businessman Cecil Pace, who was the founder and head of the defunct Bical Bank and one of Malta's foremost businessmen in the 1960s, has died at the age of 89.

FROM INTERNATIONAL FINANCIAL NEWS

MCDONALD'S AGREES TO $2.1BN CHINA FRANCHISE SALE

9th January 2017

McDonald's has agreed to sell 80 per cent of its business in China and Hong Kong to China's state-owned investment group Citic, and US private equity firm Carlyle Group in a deal valued at $2.1bn.

FROM INTERVIEWS

TRADEMALTA: ON THE HORIZON IN 2017

Sarah Micallef – 8th January 2017

In 2015, TradeMalta was formed as a partnership between the Malta Chamber and Malta Enterprise, with the aim of assisting local enterprise in reaching foreign markets with their products and services. Chairman David Curmi discusses how TradeMalta is working toward achieving its mission – that of helping businesses based in Malta grow bigger, better and faster in international markets.