BusinessToday Previous Editions

3 NEWS 13.1.2022 FROM PAGE 1 Certificates for two doses of the vac- cine expire after three months, while a certificate that includes the booster dose is valid for nine months. Establishments requiring a valid COVID vaccine certificate include res- taurants, bars, każini, gyms, spas, cine- mas and theatres. Farrugia said that many employers were having to deal with an increasing number of staff who were claiming to be in precautionary self-isolation. "ere is no certification covering self-isolation and no way for anyone to confirm the person actually needs to go into self-isolation for 10, seven or four days," he said. "And even when work can be carried out from home, some workers are re- fusing to do so while in self-isolation or quarantine." Farrugia said that, in a survey con- ducted by the MEA, 32% of the 325 re- spondents reported having an absence rate of higher than 15% which is mak- ing coping with the shortage of work- ers a problem in many workplaces. 58% of respondents said that they are coping with absenteeism through tele- working where possible, while 51% said that they have resorted to reducing op- erations. e survey covered companies oper- ating in all sectors of the economy. Farrugia said that the MEA had nev- er suggested a course of action to the health authorities and had always fol- lowed regulations issued by the authori- ties in dealing with the pandemic. "We have always respected and abid- ed with the regulations and guidelines issues but we now feel that the situa- tion needs to be monitored constantly as there are some issues that need to be further clarified and agreed upon," he said. Among these, the exact length of quar- antine and isolation according to the level of exposure to COVID-19 needs to be clearly laid out, Farrugia said. At the moment, many people seemed to be arbitrarily deciding on their own how long to spend in isolation or quar- antine. is has placed a huge burden on employers who are struggling to keep up with demand and who are finding it difficult to cope with the shortage of workers. "With some employees refusing to work from home while in isolation, they now face having those days deducted from their leave or not getting paid for those days," Farrugia said. is has put the MEA at odds with the unions, and although progress was reg- istered on some issues during a meeting of the Employment Relations Board on Tuesday, no agreement has as yet been reached on how to deal with staff on self-isolation. Farrugia said that the fact that the spike in the number of positive Covid cases during the past three weeks has also amplified the number of employ- ees who have been in primary contact with such cases has led to a dramatic in- crease in absenteeism because of quar- antine. is disruption in business activity will have a negative impact on GDP and government finances, given that the wage supplement will have to be extended to at least the first quarter of 2022 to many businesses as a result. Call for MCESD discussion In a related statement issued on Wednesday, the Forum Unions Maltin, said the government could be plan- ning to introduce legislation that would make the COVID-19 vaccine mandato- ry for workers in specific sectors. Forum called for a meeting of the Malta Council for Economic and Social Development to discuss the possibility that appears to have been floated during Tuesday' meeting of the Employment Relations Board. e union federation said that if man- datory vaccination was being consid- ered, the MCESD had to discuss the "significant" ramifications this would have for both employees and employers. "Forum is requesting an MCESD meeting with the health minister to ad- dress any union and employer issues," Forum said. MUT objects to making COVID-19 vaccine mandatory for certain sectors e Malta Union of Teachers (MUT), an affiliate member of Forum Unions Maltin, came out against rumoured government plans to make the COV- ID-19 vaccine mandatory for specific sectors. "e union has presented its objec- tions from the onset of the vaccination programme, and whilst it has worked for its members to have access to vac- cinations, it shall remain against any measure to enforce vaccinations of cat- egories of employees," the MUT said. e union said that whilst it will con- tinue to cooperate with the government in its vaccination programme, it strong- ly objected to any decision to enforce the COVID-19 vaccine on employees. 'Issues need clarifying' AX Group extends AXRE share and bond offer period AX Group has extended the offer pe- riod relevant to the subscription of shares in AX Real Estate and the €40 million Bond issue, which opened on Monday and which were meant to close on 21 January, by 10 days. e company said that it recognised that investors might be having diffi- culty consulting with their preferred authorised financial intermediaries due to the "renewed imposition of mandatory health measures to con- tain the recent surge of COVID-19 cases". AXRE issued a class of shares of a nominal value of €0.125 per share, 33,333,333 ordinary 'A' shares of which are offered for sale to the pub- lic at an average price of €0.60 per share. e company also issued €40,000,000 in 3.5% unsecured bonds of a nominal value of €100 per bond, redeemable in 2032. AX Group now extended the offer period to 31 January. As a result of this decision, the intra- group debt agreement between AX Investments plc and Simblija Devel- opments Limited has been amended to provide that the interest payable on the outstanding balance will be deferred until 28 February 2032. Similarly, the intragroup debt agreement between AX Group plc and AXRE will also be deferred to 28 February 2032, instead of 31 January 2032. AXRE said that the payment of in- terest on the Bonds will be made at close of business 15 days prior to the Interest Payment Date, now pushed to 7 February of each year, via a a direct credit transfer into the bond holder's bank account. THE Nationalist Party has called on government to scrap coronavirus meas- ures making certain establishments ac- cessible only to people with a valid vac- cine certificate. As from the 17 January, bars, snack bars, gyms, pools and spas, band clubs, cin- emas, theatres and sporting events will only be accessible to people with a valid vaccine certificate. "Given that two-thirds of the country have already taken the booster while the less virulent Omicron has become the dominant strain in Malta, the PN believes the measures no longer strike the right balance between public health and peo- ple's freedoms," the PN said. It said that while the Opposition sup- ports the health advice to take the vaccine and the booster for both personal and public safety reasons, it also believes in the rights of people to take their own decision, especially in the changing context of the pandemic. "ose who are sceptical of the booster are more likely to be convinced by medical advice from a trusted doctor than by being checkmated by the government," it said. e party also cited the added burden on employers. "PN notes that the measures, which many view as excessive and discrimina- tory, will also add another burden on em- ployers who are already facing huge diffi- culties with labour supply, increased costs and added bureaucracy," it said. e PN said the measures also create unnecessary difficulties for those who did not yet receive an invitation to take the booster, such as 15 to 18-year-olds or peo- ple who had COVID-19 or were stuck in quarantine and could not get the booster in time. PN wants mandatory COVID vaccine pass rules scrapped

• Cover