Issue link: https://maltatoday.uberflip.com/i/1258061
11.06.2020 NEWS PAUL COCKS MORE than €200 million are being dedicated solely for businesses and the self-employed, as part of the govern- ment's measures aimed at economic regeneration, economy minister Silvio Schembri said today. He was providing details on the in- centives aimed at helping regenerate the economy through increased de- mand for products and services for the business community to get back on its feet. Schembri said that during the three months of summer, businesses and self-employed would be able to benefit from an average record sum of €18,000 of direct financial assistance, when applying for all the main measures ad- ministered by Malta Enterprise. 'is means that those businesses which are taking the leap forward by re-organizing their operations, train- ing their employees and pushing them- selves forward in exploring new ven- tures will fare four times better than those who opt to stay closed," he said. "us, through the economic regener- ation plan, businesses will benefit from a stimulus, to re-experience economic activity and get back on track." e €200,400,000 allocated translate into: • commercial rent aid amounting to €50,000,000; • a refund of electricity bills through the allocation of €30,000,000; • waiver of licenses with the sum of €5,000,000; • extension of the COVID Wage Supplement which amounts to €91,000,000. • tax credits converted into grants which amount to €5,000,000 • skills development scheme amounting to €5,000,000; • sustainability of local industry through the allocation of the sum of €5,000,000; • modernisation of machinery amounting to €4,000,000; • reengineering of business opera- tions by allocating €2,500,000; • decrease in port charges amount- ing to €2,500,000; • sustaining digital promo- tion through an investment of €400,000. On average, through the measures, business can each benefit from €4,550 from the extension of the COVID wage supplement, €2,550 from the restart grant, €1,500 from the electricity bills refund, €415 from the waiver of li- censes, €1,615 from having tax credits converted into grants, €5,000 from the skills development scheme, and €2,500 through re-engineering of operations. is economic injection is expected to bring about a positive impact on do- mestic demand, which in return will result in an increase in sales, demand for products and local services and better liquidity for our businesses. Schembri said that the measures focused on small businesses and en- terprises, by decreasing operative ex- penses whilst bolstering them through direct financial aid, until the latter is no longer required when a substantial revenue starts to be generated. "We are now embarking upon the second phase of the economic strat- egy plan designed three months ago. During this phase, I encourage all businesses to embark on this journey together, throughout which they shall find us as a Government as a shoulder to lean on," he said. "From this point onwards, our at- tention is shifting on incentivising the economy in order to instill again that much needed confidence factor amongst our population and return to our normal way of life." e minister said he was looking for- ward to once again witnessing a sense of optimism in all employees. ''I therefore encourage businesses and self-employed to apply with Malta En- terprise for these direct financial assis- tance schemes once they are open and take advantage of such financial aid that is being provided in our ongoing pursuit to safeguard our businesses, self-employed and employees," he said. More than €200 million in financial assistance for businesses and self-employed Economy minister Silvio Schembri AS part of its ongoing trans- formation and with reference to the Senior Management vacancies advertised in late 2019, APS Bank announces the following appointments. Noel McCarthy is now Chief Investments Officer, a new- ly-created position oversee- ing the Investment Manage- ment and Distribution units, subsidiary and affiliated company activities and the Bank's property portfolio. A senior executive who joined the Bank in 2000 and served as Chief Financial Officer since 2016, Noel sits on var- ious Board and Management committees and is a Director of ReAPS Asset Management, the wholly-owned subsidiary licensed to manage UCITS funds. Ray Bonnici takes over the new position of Chief People Officer. He joined APS Bank as Head of Human Capital in 2016 after a career in Malta and overseas started in the aviation industry followed by spells with Hilton Hotels In- ternational as Director of HR for Malta and then as Direc- tor of HR at Premier Capital, Hili Group. Ray sits on Board and Management committees and his remit spans Human Capital, Training and Tal- ent Development and Career Planning. Kenneth Genovese is pro- moted to Head of Investment Distribution, responsible for all investment, pension and wealth services and report- ing to the Chief Investments Officer. Kenneth started his banking career in the early 90s and he joined APS Bank in 2002, holding various sen- ior positions in Treasury and Investment Services over the years. He is a Henley MBA, a regular lecturer at local and international Masters pro- grammes and is also a com- mittee member at the Insti- tute for Financial Services (Malta). Gilbert Caruana is promot- ed to Head of Finance, taking over responsibilities which he had previously been carrying as Senior Manager. He joined APS Bank in 2001 as a junior accountant, qualified ACCA in 2002 (FCCA – 2009), is a Fellow of the Malta Institute of Accountants and a CPA. He has been key in the devel- opment and implementation of major projects and sys- tems. Gilbert is a member of the Bank's ALCO and sits on various industry committees. Daniel Cassar is Head of Digital Innovation, a new- ly-created position reporting to the Chief Technology Of- ficer entrusted to support the digitalisation of the business model. Daniel, who joined the Bank in 2008, has a founda- tion degree in Banking Prac- tice & Management from the University of Kent and grad- uated B.Sc. in Computing & Information Systems from the University of London in 2018. He has performed various roles within the Branch Net- work, Cards Unit and Tech- nology, including delivery of the omni-channel and mobile banking project in 2019. Rodney Naudi is the new Head of Operational Risk and Security Governance. He is a graduate in Maths & Com- puting from the University of Malta and holds a M.Sc. in Advanced Software Engi- neering from the University of Sheffield. Rodney's career in ICT spans over 25 years, having been involved in key projects with MITA before joining APS Bank in 2017 as Operational & Cyber Risk Manager. He is also a visiting senior lecturer at the Univer- sity of Malta and was a mem- ber of the Malta Cyber Secu- rity Steering Committee. Gordon Gilford joined APS Bank in April 2020 as the first Head of eChannels, respon- sible for digital channels, in- ternet and mobile banking, self-service machines, con- tact centre and open banking. He spent 19 years at HSBC Bank Malta, his last position being that of Senior Digital Banking Manager. Gordon is qualified in dig- ital marketing, graduated M.Sc. It & Management from Sheffield Hallam University in 2010 and is reading for an MBA from the University of Suffolk. New senior management appointments at APS Bank