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BUSINESS TODAY 23 November 2023

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€1.50 THURSDAY 23 NOVEMBER 2023 • ISSUE 233 WWW.BUSINESSTODAY.COM.MT PAGE 5 PAGE 2 PAGE 3 Malta must wind down energy subsidies - EU Malta ranked UK's 7th most affordable country for luxury second homes NICOLE MEILAK THE European Commission has asked Malta to wind down its energy sup- port measures to reduce its govern- ment deficit, instead recommending means-tested support measures for en- ergy price increases. A Commission Opinion on Mal- ta's Draft Budgetary Plan warned that, as a result of hefty energy sup- port measures, Malta has no relat- ed savings to be used to reduce the government deficit. "Overall, the Commission of of the opinion that the Draft Budget- ary Plan of Malta is not fully in line with the Council Recommendation of 14 July 2023," the opinion report reads. STAR PERFORMER MSE FTSE 100 EUR EXCHANGE RATES Trading Date: 22 Nov 2023 Number of Trades: 53 Turnover: €713,012.59 MSE TRX Index: 7622.352 Change: -0.532% Name: 6% IHI 2033 MT0000111345 - Currency € Last Traded: 22 Nov 2023 Price 102.950 Change +1.150 US Dollar 1.0522 British Pound: 0.86477 Japanese Yen: 144.59 Australian Dollar: 1.5451 Swiss Franc: 0.98700 7,613.67 78.12 7,613.39 / 7,312.00 Value Net variation High / Low +0.86% 3.40% p.a. MeDirect Bank is a participant in the Depositor Compensation Scheme established under the Maltese Laws. Rate is quoted gross of tax on a per annum basis and is paid into a savings account. Accounts can be opened with a minimum of €100 and deposit must be kept in the account for the duration of the term. MeDirect Bank (Malta) plc, company registration number C34125, is licensed by the Malta Financial Services Authority under the Banking Act (Cap. 371). on a 6-month term deposit in Euro. Open an account online today. 2557 4400 I PAUL COCKS MALTA has been ranked the 7th most affordable country for luxury second homes in a report ranking the top 20 popular destinations based on their af- fordability for UK second-home inves- tors. e rankings, by Proven Partners, specialists in luxury real estate mar- keting, comes at a time when UK re- gions are witnessing significant hikes in property taxes for second homes. ey considered factors like property prices, taxes, fine-dining costs, premi- um car hire rates, flight costs from the UK, and potential Airbnb revenue. Production in construction up by 0.4% in the euro area and by 0.5% in the EU Down by 0.3% in the euro area and up by 0.1% in the EU compared with September 2022 European Commission warns Malta has no related savings to use to reduce deficit Production in construction sector 2015=100, seasonally adjusted series

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