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2 NEWS 13.10.2022 Through the Wage Supplement Scheme, €825 million in support was provided to firms and businesses to substantially cover partial wage costs in order to reduce the burden during COVID-19 restrictions and thus, prevent redundancies. The scheme was initially launched in 2020 and tapered out up to May 2022, aimed at helping firms and businesses during the recovery period. Businesses could also apply to postpone the payment of taxes such as VAT and income tax through the tax deferral scheme. Starting from June 2022, the scheme's beneficiaries could pay the eligible taxes monthly over 30 months until the end of December 2024. During this period, the interest on the deferred tax is suspended. covid-19: liquidity support measures LOCAL maritime and logistics com- pany Focal Maritime has announced a new strategic plan for the years ahead in which it will seek to expand its ser- vice offering into a fully-blown logis- tics organisation, providing a compre- hensive service to its growing client base. Celebrating the 25th anniversary as a leading company in the local mar- itime industry, the company has iden- tified its growth potential in new ser- vices including air and road transport, warehousing and just-in time delivery. Addressing a number of clients gath- ered at the Malta Maritime Museum in Birgu to celebrate the company's silver anniversary, Managing Director Godwin Xerri explained that although Focal Maritime is a family-owned en- terprise deeply rooted in history, it is adopting a forward-looking approach, and in front of the challenges present- ed by the current international eco- nomic climate, it is aiming to expand, and grow into a group of companies providing a wide-range of services within the logistics industry. "This strategy is also directed to enhance the company's competitive- ness, through significant investment in modern, professional and digital tools and solutions which offer clients a top-quality service at a possibly bet- ter price offering. All this while im- proving the communication channels with all parties involved", Mr Xerri explained. Taking a leaf out of the theme chosen for the company's 25th anniversary – a history built on trust – Xerri high- lighted how indeed trust has been the epitome of the organisation's offering throughout the years. He explained that despite the fam- ily's management involvement, it is proactively adopting modern govern- ance practices, including the creation of a holding company with a board of directors supported by external con- sultants and the creation of two new general manager posts which ensure more focus on the clients' require- ments. The company is also investing heavily in the provision of training for both management and staff to meet the demands of an ever-changing business and commercial landscape. Despite this ambitious plan, Xerri insists that the company will continue to uphold its core values of fairness, loyalty and efficient service, offering a personalised touch to its clients, while supporting members of staff in achieving the best possible work-life balance. On the occasion of the 25th anni- versary since its establishment, the company has also launched a new corporate website, available on www. focalmaritime.com. Focal Maritime to provide extensive logistics services under new strategic plan IN August 2022, the seasonally adjusted industrial production rose by 1.5% in the euro area and by 1.1% in the EU, com- pared with July 2022, according to estimates from Eurostat, the statistical office of the Europe- an Union. In July 2022, indus- trial production decreased by 2.3% in the euro area and by 1.5% in the EU. In August 2022 compared with August 2021, industrial production increased by 2.5% in the euro area and by 3.5% in the EU. Monthly comparison In the euro area in August 2022, compared with July 2022, production of capital goods rose by 2.8%, durable consum- er goods by 0.9% and non-du- rable consumer goods by 0.7%, while production of intermedi- ate goods fell by 0.5% and ener- gy by 2.1%. In the EU, production of capi- tal goods rose by 2.0%, non-du- rable consumer goods by 0.9% and durable consumer goods by 0.3%, while production of intermediate goods fell by 0.4% and energy by 2.0% Among Member States for which data are available, the highest monthly increases were registered in Ireland (+16.6%), Estonia (+5.0%) and Denmark (+4.3%). e largest decreases were observed in Sweden ( 7.0%), Belgium (-6.1%) and the Neth- erlands (-1.5%). Annual comparison In the euro area in August 2022, compared with August 2021, production of capital goods rose by 8.2%, durable consumer goods by 7.0% and non-durable consumer goods by 0.4%, while production of intermediate goods fell by 0.5% and energy by 2.9%. In the EU, production of cap- ital goods rose by 8.9%, dura- ble consumer goods by 4.2%, non-durable consumer goods by 3.2% and intermediate goods by 0.1%, while produc- tion of energy fell by 0.5%. Among Member States for which data are available, the largest annual increases were registered in Bulgaria (+16.5%), Lithuania (+14.4%) and Den- mark (+14.1%). e largest decreases were observed in Belgium (-10.3%), Luxembourg (-2.5%) and Slovakia (-2.0%). Industrial production up by 1.5% in euro area and by 1.1% in EU in August EMBARGO: Wednesday 12 October 2022 - 11:00 CET 114/2022 - 12 October 2022 August 2022 compared with July 2022 Industrial production up by 1.5% in the euro area and by 1.1% in the EU Up by 2.5% and 3.5% compared with August 2021 In August 2022, the seasonally adjusted industrial production rose by 1.5% in the euro area and by 1.1% in the EU, compared with July 2022, according to estimates from Eurostat, the statistical office of the European Union. In July 2022, industrial production decreased by 2.3% in the euro area and by 1.5% in the EU. In August 2022 compared with August 2021, industrial production increased by 2.5% in the euro area and by 3.5% in the EU.

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