Tag: Inflation
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European Central Bank reduces interest rate to 2.5%
The European Central Bank reduced its key interest rate to 2.5% from 2.75% citing the lower inflation rate. The ECB said that it is on track of bringing inflation down to 2% by the end of the year with Euro area inflation being estimated to go down from 2.3% in 2025, to 1.9% in 2026.…
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Inflation rate keep subsidising but food still going higher
Malta’s National Statistics Office has released its latest round of inflation figures for May and inflation is following its declining trend. Inflation in May was at 1.5%, 0.1% lower than the previous month but food items are still increasing in price at a 0.78% increase. Current and immediate global supply chain problems mostly gravitate around…
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European Central Bank cuts interest rate forecasting inflation to keep slowing down
The European Central Bank has cut its interest rates for its lending and deposit facilities by 0.25% (25 basis points), lowering the ECB’s deposit interest rate for banks at 3.75%. The interest rte cut comes after a similar move by the Bank of Canada and marks a further move towards an end to the relatively,…
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Still no safe passage through the Bab el-Mandeb Strait
Although cargo ships passing through the Bab el-Mandeb Strait have increased in the past few weeks, there is still no safe passage through the strait. As of recently, the Houthis fired at a Greek ship that was destined for Iran and some major shipping lines are still not going through the strait. The US and…
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What national interest is Viktor Orban defending, actually? Hungary is the second poorest country in the EU
Polish Prime Minister Donald Tusk has recently said that the EU is suffering from “Viktor Orban fatigue”. EU leaders are tired of having to strong-arm Hungary into accepting its united positions on foreign policy, especially on Ukraine and Russia. Hungary has taken an altogether different position from the EU on Russia and Ukraine, and apart…
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Miriam Dalli is confusing premium with “price stability”
Minister for Energy Miriam Dalli replied to a parliamentary speech by Opposition MP Mark Anthony Sammut with a diatribe against the Opposition riddled with cliches and slogans including “peace of mind”, “state of the art”, and “we are doing even more” among others. She still can’t get into the mindset of a minister who is…
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Updated: Business Now changed their article and Abigail Agius Mamo’ comments have been updated
CEO of the Chamber of SMEs, Abigail Agius Mamo was previously quoted on Business Now for having acknowledged that several food importers are engaging in profiteering activity, basically retracting the Chamber’s criticism of Alex Agius Saliba who raised this issue with the EU Commission. Those comments were changed and updated in the online article of…
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A summary of the Maltese government’s gas trade
Ever since last year, I have been following closely the natural gas market due to the Russian invasion of Ukraine. I was short natural gas in September last year, and I also followed the story on the Maltese government’s gas purchase for which it issued subsidies to keep electricity prices low. Malta’s gas purchases were…
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Debunking the “highest minimum wage increase” lie
Prime Minister Robert Abela is trying very hard to salvage his political career by supposedly becoming a socialist. He is selling his minimum wage increases as the highest “minimum wage increases in history”. This claim is preposterous and absolutely untrue. According to Robert Abela’s own figures, the minimum wage will be increasing by a maximum…
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Alf Mizzi and & Sons are muscling small retailers to preserve monopoly pushing prices up as a result
This is part of an extensive and ongoing investigation on food price hikes, inflation, and profits by food importers following an official complaint to the EU Commission by Alex Agius Saliba alleging that monopoly food importers in Malta are using their monopoly power to artificially keep the price of food products high. Initial findings of…
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Profitability and profits of major food importer Francis Busuttil & Sons (Marketing) shot up in 2022
Apart from Alf Mizzi & Sons, Malta’s major food importer that has monopoly power in the food distribution market is Francis Busuttil & Sons who have been in the food importation business since the early 19th century. Recently, Labour MEP Alex Agius Saliba made an official complaint to the EU Commission alleging that major Maltese…
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Alf Mizzi & Sons don’t disclose their profitability for 2021 on food imports, but they do disclose a €1.5 million in dividends
It’s a bit difficult to comprehend the profitability for Alf Mizzi & Sons on food imports for 2021 because their accounts are incomplete. Labour MEP Alex Agius Saliba has submitted an official complaint to the EU Commission where he alleges that large food importers in Malta are abusing their monopoly position. I am not saying…
