“Conference by Malta Business Bureau and MCST…”

Conference by Malta Business Bureau and MCST highlights EU funding opportunities for local businesses.

Malta

The Malta Business Bureau (MBB) and Malta Council for Science and Technology (MCST) have organised a business conference titled ‘Navigating EU Direct Funds – Unlocking Financial Opportunities for Business.‘ This was organised through the Enterprise Europe Network (EEN) project, which aims to assist SMEs in their journey towards sustainability, digitalisation, and resilience.

The primary objective of the conference was to enhance accessibility to direct EU funding programmes, such as Erasmus+, LIFE, COSME-SMP, Horizon 2020, and EIT, among others, for the national business community. The benefits of capitalising from the EEN service were also highlighted, as it facilitates the connection between finance experts and local businesses seeking funding opportunities.

Opening the event, MBB President Alison Mizzi said, “one thing that we have learnt throughout these years is that while businesses have many ideas for projects that may be eligible for EU funding, they find it complicated to identify the correct funding stream where to propose their ideas for funding. As such, the MBB, under the auspices of the EEN, is here to advise businesses on identifying the correct funding stream for their project ideas and connect them with the relevant contact points to pursue their project application.”

On his part, MCST Chairman Tonio Portughese commented that “by prioritising innovation, digitalisation, and sustainability, we can drive economic growth, create new job opportunities, and enhance the quality of life for our citizens.” 

Parliamentary Secretary for EU Funds Chris Bonett stressed that, despite the challenges the country has faced in recent times, Malta has adapted, innovated, and grown due to the Government working hand in hand with the private sector.

The Parliamentary Secretary closed by emphasising the importance of financial support for digitisation and sustainability, for businesses to adapt these factors in their operations.

The event included two panel discussions with international and local funding experts, together with businesses with experience in tapping direct EU funds. These explored how such funding can support investments in sustainability, digitalisation, and R&I.

Addressing the conference, President of the European Parliament Roberta Metsola encouraged Maltese businesses to embrace the change that the new realities are bringing.

“They represent opportunity. A chance for renewal. For growth. Without change, we will stagnate as an economy, as a country and as a Union. You who have invested all your energy and resources into creating something new and innovative, you who have sacrificed everything you have for your business, it is you that has every potential and all the stamina it takes to come out of this period stronger, perhaps more than ever before,” concluded President Metsola.

Market News:

FIAU’s administrative penalties against Lombard Bank ‘unconstitutional’

Lombard Bank has said, in a statement, that a court has found the FIAU’s administrative penalties against the bank to be ‘unconstitutional’.

Lombard Bank had been slapped with a €340,058 fine by the Financial Intelligence and Analysis Unit (FIAU) over breaches of money laundering regulations.

The Bank had instituted legal proceedings before both the Court of Appeal and the First Hall Civil Court, in its Constitutional Jurisdiction claiming, among other things, a breach of its fundamental human rights.

“The First Hall Civil Court, in its Constitutional Jurisdiction today delivered a judgement ruling, inter alia, that the FIAU decision in the Bank’s regard as well as the relative administrative penalties are null and void as they are considered unconstitutional and in breach of the Bank’s right to a fair hearing by an independent and impartial court as enshrined in the Constitution of Malta.”

“While this judgement may be appealed, the Bank welcomes the Court’s decision and remains committed to ensuring continued vigilance and investment in its technical and human resources so as to prevent the use of the Bank’s services for any form of illicit activity.”

Malta Company Announcements:

Simonds Farsons Cisk p.l.c

The Board of directors are recommending the payment of a final net dividend of €0.11 per share out of tax-exempt profits, to all shareholders as at close of trading on 23^rd May 2023 subject to shareholders’ approval at the upcoming AGM to be held on 15^th June 2023 which will be payable on 16^th June 2023.

Main Street Complex p.l.c

The Board of directors are recommending the payment of a final net dividend of €0.0109 per share to all shareholders as at close of trading on 30^h May 2023 subject to shareholders’ approval on 12^th June 2023 which will be payable by not later than 26^th June 2023.

Plaza Centres p.l.c

The Directors are recommending the payment of a final net dividend of €0.0137 per share to all shareholders as at close of trading on 11 May 2023 subject to shareholders’ approval at the upcoming Annual General Meeting scheduled to be held on Wednesday 14 June 2023.

Tigne Mall p.l.c

The Board of directors are recommending the payment of a final net dividend of €0.0136 per share to all shareholders as at close of trading on 20^th June 2023 The final dividend will be payable on 12^th July 2023.

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