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2 NEWS 16.11.2023 PROSPECTIVE homeowners who plan to buy their property by means of a bank loan tend to give high im- portance to sustainability incentives offered by banks, as well as the avail- ability of online home loan application capability, and flexibility offered for home loan appointments. ese insights were presented during the latest Construction Industry and Property Market Report, conducted by KPMG and which was co-sponsored by Bank of Valletta alongside other lo- cal banks and sponsors. During a panel discussion on afforda- bility concerns, Bank of Valletta CEO Kenneth Farrugia stressed the impor- tance to incentivise the development of sustainable properties, with a par- ticular focus on the social elements of ESG that complement environmental incentives and good governance prin- ciples. "Bank of Valletta is experiencing an increase in the demand for sustainable properties, covering both commercial and residential developments. Within this context, the Bank has introduced attractive green financing solutions, such as the Business Energy Loan. Such incentives will certainly make access to finance more attractive and affordable." Farrugia also mentioned that, giv- en the importance that prospective homeowners give to flexibility and ac- cessibility in the home loan process, Bank of Valletta introduced a digital home loan application portal that of- fers a better experience for those cus- tomers wishing to apply for their loans online. With regards to property affordability and current inflationary concerns, Far- rugia said that the Maltese economy has remained somewhat shielded from challenging external factors, with Mal- ta registering an economic growth of 4% and unemployment levels at their lowest ever. "is has enabled Bank of Valletta to keep bank-based interest rates stable over this period." During a separate panel discussion titled 'e Implications of a New Eco- nomic Model', BOV Chairman and leading economist, Gordon Cordina said that there is no need to reinvent the wheel when it comes to revisiting economic models. "It is somewhat a natural process that economic models need to be revisited every so often. What the country is cur- rently experiencing, are growing pains that are part of the growth process as the country continues to evolve." Cordina went on to stress the impor- tance for landowners to act responsi- bly for the greater common good. "ESG requirements are becoming ever more a reality in today's world and will become even more stringent in the near future," he said. "Good governance should be the or- der of the day and all parties involved in land development should also be re- sponsible for assessing the impact on other factors such as traffic generation and pollution." Banks' sustainability incentives key for prospective homeowners – KPMG report BOV Chairman Dr Gordon Cordina (left) and CEO Kenneth Farrugia CLAIRVOYANT Mr TOURE a Marabout clairvoyant medium healer and Exorcist with an exceptional gift. Specialising in disenchantment, voodoo protection against dangers, couple problems return of a loved one, impotence and sexual issues whatever the nature. Court cases. Tel: +35677484511 IN September 2023, the sea- sonally adjusted industrial production decreased by 1.1% in the euro area and by 0.9% in the EU, compared with Au- gust 2023, according to esti- mates from Eurostat, the sta- tistical office of the European Union. In August 2023, industrial production increased by 0.6% in both the euro area and the EU. In September 2023 com- pared with September 2022, industrial production de- creased by 6.9% in the euro area and by 6.1% in the EU. Monthly comparison In the euro area in Sep- tember 2023, compared with August 2023, production of durable consumer goods and non-durable consumer goods fell both by 2.1%, energy by 1.3% and intermediate goods by 0.3%, while production of capital goods grew by 0.3%. In the EU, production of du- rable consumer goods fell by 2.4%, non-durable consum- er goods by 1.2%, energy by 1.0% and intermediate goods by 0.2%, while production of capital goods grew by 0.4%. Among Member States for which data are availa- ble, the largest monthly de- creases were registered in Belgium (-3.2%), Portugal (-3.0%), Estonia and Ireland (both -2.9%). The highest in- creases were observed in Cro- atia (+4.3%), Slovenia (+4.1%) and Hungary (+1.3%). Annual comparison In the euro area in Septem- ber 2023, compared with September 2022, production of capital goods fell by 9.5%, durable consumer goods by 8.1%, non-durable consum- er goods by 6.7%, energy by 5.8% and intermediate goods by 4.5%. In the EU, production of du- rable consumer goods fell by 8.9%, capital goods by 8.1%, energy by 5.5%, intermediate goods by 5.0% and non-dura- ble consumer goods by 4.3%. Among Member States for which data are available, the largest annual decreases were registered in Ireland (-27.2%), Belgium (-14.0%) and Estonia (-12.5%). Increases were ob- served in Denmark (+2.8%), Greece (+2.1%), Croa- tia (+1.6%) and Malta (+0.4%). Industrial production down by 6.1% in the EU compared with September 2022

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