Costs at the Freeport are only expected to decrease by five per cent despite the elimination of an artificial charge previously imposed by the now defunct Cargo Handling Company Ltd. READ MORE >>
As cargo haulers yesterday brought the Freeport to a complete standstill by stopping the entry and release of containers, the Federation of Industry warned that the GRTU’s actions could have serious consequences on the economy.
Interest rates unchanged
The Central Bank of Malta yesterday left the central intervention rate unchanged at 3.5 per cent saying it was too early for a full assessment to be made of the impact of the May increase in the Bank’s central intervention rate.
A report aimed at dissuading the introduction of low-cost carrier giants Ryanair and easyJet, commissioned by national airline Air Malta has unsurprisingly earned rebuke for its negative portrayal of the advent of LCCs to Malta.
Parliamentary Secretary Tonio Fenech insists that the European Commission’ spring assessment that the deficit next year will be above the three per cent benchmark is just a forecast which can be disproved by actual figures.