Huge increase in properties sold in Malta throughout March

Apr 11 2022

Throughout last March 2022, the number of confirmed sales and contracts increased over the previous month. This information was revealed by the National Statistics Office (NSO), which claims that in March, when compared with February, around 100 more contracts were registered.

In March, there were around 1,165 contracts signed, compared to February’s 1,067. Promise of sale also increased, and did so well over actual contracts signed. In February, 967 promise of sale were issued, whereas in March 1,113 promises of sale were issued. This is an increase of around 150 promises of sale in just a month’s time.

The property value sold in March also exceeds that of February. In February, the value of property sold reached up to €202,700,000. In March, the same value reached up to €214,400,000. This means an increase of €12 million in jut one month.

The largest amount of contracts throughout March were properties in Gozo and in the South of Malta, including the likes of Ħaż-Żabbar, Żejtun and Marsaxlokk.

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A microchip implant now lets people pay by scanning their hand

Apr 11 2022

The future really is now as new developmental technology is giving people the ability to pay by using their hand.

And no we don’t mean using your hand to scan your card or to use Revolut. We actually mean scanning a part of your hand as a microchip implant does all the payments for you.

Patrick Paumen is one such figure who is utilising the technology, paying by using his hand as he had one of these chips implanted in him back in 2019 just under his arm’s skin.

British-Polish firm Walletmor says that last year it became the first company to offer such microchips for sale for the general public. The company excitedly (or hauntingly) boasted how this chip will be used in all sorts of establishments come the near future.

From paying for a haircut to groceries, people will be able to use such chips to instantly pay for various items or services. It can technically already be used anywhere contactless payments are accepted.

The chip weighs less than a gram and is a little bigger than a grain of rice. The chief executive Wojtek Paprota says that the chip is entirely safe, has regulatory approval, works immediately and will remain firmly in place. Over 500 of them have already been sold and they do not require batteries.

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Malta with the lowest minimum wage in Western Europe

Apr 11 2022

According to statistics by Eurostat, the minimum wage for Malta ranks at €792, which is just slightly higher than that of Greece and Latvia but lower than that of Portugal and Slovenia.

This gives Malta the lowest minimum wage when compared to countries in Western Europe.

Out of 21 member states which have clear regulations to determine minimum wage, Bulgaria ranks as the country with the lowest minimum wage at €332 per month.

On the opposite end of the spectrum, Luxembourg has the highest minimum wage, racking up to €2,757 monthly. Austria, Cyprus, Denmark, Italy, Finland and Sweden do not have a determined minimum wage.

The call to increase the minimum wage has been constantly made by third parties, among them ADPD. The third party claims that the minimum wage is not sufficient to survive in the 21st century and that there needs to be an update to wages in Malta.

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Hundreds of UK homes protest rising energy costs by turning off electricity

UK plans massive power switch off to protest rising energy costs

Apr 11 2022

The Big Power Off protest saw hundreds of homes in the UK switching off their electricity and power in protest against energy costs.

Taking place at 10pm on Sunday 10th April in the UK, people switched off all electrical devices for 10 minutes straights. The aim of this ‘non-partisan’ action was to create enough of an imbalance in the national grid to get the attention of government.

This, the protesters aimed, would force companies and the government to reduce costs as surges are experienced everywhere. Video footage showed online appears to show lights across Glasgow flickering twice in quick succession at around 10pm.

Organisers claimed that similar protests will continue to take place until action is taken to reduce the energy costs. Another one is being planned for 7pm on Saturday 16th April, to coincide with parliament returning from recess.

Organiser Karen Brady wrote to Twitter saying that ‘Next #BigPowerOff2 will be earlier at 7pm Saturday 16th April, just before Parliament arrives back from their holiday.’

One of the reasons is the over reliance of UK on Russian energy sources. The sanctions imposed on Russia due to the invasion of Ukraine has impacted the costs drastically. However, some are arguing that the protest is purely political as they wish governments helped more those who are struggling.

The Resolution Foundation suggests that 1.3million people, including around 500,000 children, could be pushed into absolute poverty as a result of the cost-of-living crisis.

Meanwhile, oil prices are tumbling as economies start to show signs of strain. With COVID playing a major role in the crime, million of people aren’t driving or flying in the world’ second largest oil consuming country, Shanghai.

China’s consumer prices rose up 1.5% in March, led by higher by fuel and food prices. The risk of recession is rising in many other major countries, with a combination of stagnant economic growth and rising inflation making a dangerous combination.

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