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61% of Maltese businesses mark up their prices as production costs soar

 - Local - Aug 6 SHARE ON:

The Central Bank of Malta has reported that during the second quarter of 2022, 77% of respondents noted an increase in production prices and as a result, 61% of businesses had to increase their prices.

In a statement, the Central Bank highlighted how the majority of companies were affected by the war in Ukraine, mostly due to the increase in import costs. Additionally, 42% of the businesses responding to the survey plan on increasing their workforce, expressing their concern on the current lack of workers and pressure to increase wages.

As the summer season slowly begins to come to a close, 48% of businesses expect an increase in commercial activity over the coming months while 17% expect a drop.

During Q2, 92% responded that they proceeded with the scheduled investment plans while 5% had to postpone. The proportion of businesses which reported zero planned investment dropped to 3% when compared to the 18% of Q1.

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New Ta’ Qali concert area could welcome big international artists as it nears completion

 - Local - Aug 6 SHARE ON:
New Ta' Qali concert area could welcome big international artists as it nears completion

A concert area in Ta’ Qali is poised to become a hotspot in local events, potentially welcoming multiple international artists as the newly-renovated space nears completion.

Valletta Cultural Agency Chairman Jason Micallef took to Facebook to share a few snaps of the progress, highlighting that a once-illegal concrete factory has been converted into a large green space which will eventually ‘be given back to the public’.

Micallef also revealed that the green space will be equipped with the finest facilities, making what is expected to be the ‘largest concert zone in our country’ an ideal place for families to relax as it approaches its opening date in a few weeks.

With most international artists back on the international tour schedules, who knows who could come to Malta to be the first to test out the concert space?

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Malta’s partnership with Manchester United extended for another five years

 - Local - Aug 6 SHARE ON:

Malta’s long-standing relationship with Manchester United has been extended for another five years as the island’s Ministry for Tourism, together with Visit Malta, have secured an extension of Malta’s status as a destination partner.

Malta celebrates a relationship of over 60 years with the renowned British club, with Visit Malta highlighting the “very strong” bond between the supporters’ club, the Maltese Islands.

Through the extended collaboration, the VisitMalta brand will be visible on Manchester United’s official website, social and digital media channels as well as at Old Trafford. Back in 2021, a number of Man United players formed part of a special promo video shining a light on Malta’s gorgeous locations, with players like Paul Pogba, Viktor Lindelof and Brandon Williams praising some of the island’s most iconic locations.

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Workers in Iraq given day off due to scorching heat as temperatures exceed 50°C

 - International - Aug 6 SHARE ON:
Workers in Iraq given day off due to scorching heat as temperatures exceed

Government employees in multiple parts of Iraq have been given a day off work after temperatures reportedly exceeded 50 degrees celsius.

Multiple Iraqi cities made the list of hottest places in the world on Thursday as work was suspended in 10 provinces across the country, Kurdistan24 reported.

With Iraq being one of the hottest places on Earth, scorching temperatures are not something the country is unfamiliar with, but residents have admitted that conditions are getting worse.

Offices are reportedly closed for thousands of employees as power cuts, lack of air conditioning and stifling heat have made it impossible to work.

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