Developers Think, Author at The Malta Chamber

Blue Sky or Eye of the Storm?

Posted on September 10, 2020July 31, 2023 by Developers Think

Bank of Valletta is teaming up with The Malta Chamber and Saxo Bank in co-hosting another free webinar for businesses – ‘Blue Sky or Eye of the Storm’ on Thursday 17th September 2020 at noon.

The last quarter of 2020 promises to be quite eventful and will provide an insight on how 2021 will kick-off. Christopher Dembik, Group Head Macroeconomic Analyst from Saxo Bank will join investment experts Matthew Farrugia from BOV Wealth Management and Steve Ellul from BOV Asset Management to discuss the opportunities and risks for local businesses moving forward during these challenging times.

During this webinar, various topics will be discussed, including trade wars and their potential impact on future supply chains, the implications of a no-deal Brexit, and the impacts of a second wave of the COVID-19 pandemic. The Malta Chamber President David Xuereb will address the participants, who will be able to put forward their questions to the panel. Deputy President of The Malta Chamber Marisa Xuereb will be delivering the welcome note during this webinar.

Local business operators are invited to register today for this free webinar through this link.

This webinar is one of a series of free webinars that BOV has been organising or co-hosting during these past months, with the aim of bringing expert information, insights and best practices to local businesses and consumers.

MBB co-hosts webinar on the European Commission’s Farm-to-fork strategy

Posted on September 10, 2020July 31, 2023 by Developers Think

The Malta Business Bureau and the European Commission Representation in Malta hosted a webinar on the Commission’s ‘Farm to Fork’ strategy. This strategy, which aims to make EU food systems fairer, healthier, and more environmentally friendly, is at the heart of the EU Green Deal, which sets out the path to make Europe the first climate-neutral continent by 2050.

MBB President Simon De Cesare welcomed the objectives of the strategy, but stressed that it should not lead to excessive obligations on businesses. Stephanie Bodenbach, Head of Sector at DG Sante within the European Commission, introduced the main objectives of the strategy and discussed what it would mean for businesses operating in the EU food system.

Some of the main issues identified within the strategy include mitigating the environmental impact of food production, reducing packaging and food waste levels, and improving consumer knowledge on nutritional information.

This is expected to culminate in proposals and policy revisions concerning nutrient levels, labelling, and food waste reduction targets, amongst others.

Hotrec Public Affairs Manager, Marta Machado and FoodDrinkEurope Deputy Director General, Dirk Jacobs shared the views of European businesses. Some of the concerns raised include avoiding binding targets on EU member states as this would penalise well-performing businesses, avoiding nutrition labelling in restaurants, as well as other bureaucratic requirements such as origin indications.

The principles of the Farm to Fork strategy are grounded in the United Nation’s Sustainable Development Goals (SDGs), as well as the EU’s own commitment towards fostering a just transition towards a climate-neutral economy.

This strategy is also being framed in the context of the COVID-19 pandemic, which highlights the increasing importance of robust and resilient food systems which can offer a secure supply of food at an affordable price for consumers.

Malta Chamber “on an uninterrupted path of renewal”, says Director-General

Posted on August 31, 2020July 31, 2023 by Developers Think

Over its 172-year history, The Malta Chamber matured in its mission and values, as the island became independent and set its commercial engines in full-gear to attract investment and ensure economic growth. Today, The Malta Chamber, with offices housed within the historic Exchange Buildings in Valletta, boasts hundreds of members and continues to work intently on fulfilling its mission of providing a voice to the local private sector.

And it aims to continue doing so. To this end, this year, The Malta Chamber launched a rebranding exercise – in conjunction with PR agency BPC International – aiming to bring it into the new decade of the millennium. This was a new vision which saw the entity transformed, ready to continue in its role as an indispensable partner to the thousands of business leaders on the island.

HSBC Europe webinars on Covid-19 response made available to local clients

Posted on August 31, 2020July 31, 2023 by Developers Think

HSBC Malta is providing all business clients access to insights from HSBC Europe on how to respond to COVID-19 through a series of webinars.

Called HSBC Europe: Navigating the new Norm. this series includes insight by international banking experts, who share their experiences and observations on the pandemic and sustainability.

“In light of the rapidly evolving situation, we strive to continue maintaining the best quality banking service,” says Joyce Grech, Head of Commercial Banking at HSBC Malta.

“Through these webinars we are also making HSBC’s international expertise available to the local business community and providing insights into the current and potential future implications of COVID-19. In particular, these webinars are providing thought leadership on areas such as supply chain disruption and risk management.”

For more information on these webinars, visit here.

HSBC Malta acts to mitigate effect of socially distanced queues

Posted on August 19, 2020July 31, 2023 by Developers Think

HSBC Malta, together with support from Local Councils, has secured the necessary permits to begin setting up temporary structures to provide shade from the sun, and where this is not possible, the bank will be providing customers with sun umbrellas whilst queueing outside branches. These measures are aimed at assisting the elderly and more vulnerable members of our community who, due to the impact of social distancing requirements, are at times obliged to queue outside. The bank will also be providing anti-bacterial wipes to all those customers who make use of the umbrellas.

Crawford Prentice, Head of Wealth and Personal Banking at HSBC Malta, said: “The number of people that can be allowed into our branches remains restricted due to the Covid-19 pandemic and, unfortunately, this means that at times some customers will have to wait outside. We understand how uncomfortable this can be in the heat of summer, especially for the elderly and vulnerable, and have therefore been working hard to get the permits we need to set up temporary shading and to ensure we can provide shade with umbrellas. Significant progress has been made and some tents have already been erected.”

This is not the first effort by the bank to mitigate queues, the bank has also launched a targeted programme where HSBC employees wearing a red ‘Here to Help’ t-shirt are deployed within the self-service area of each of its branches and their goal is to actively assist and educate customers in the use ATMs and deposit machines. This initiative is proving to be popular with customers and is contributing towards making banking easier and more convenient, whilst offering alternatives to traditional branch banking.

In addition to this initiative, HSBC is continuously encouraging customers to use alternative digital banking methods and since the start of the pandemic the bank has increased its educational efforts, producing a number of information videos aimed at encouraging digital banking. The bank has produced easy to follow educational videos which may be seen at https://www.hsbc.com.mt/ways-to-bank to highlight the ease of using ATMs for cash withdrawals and deposits as well as cheque deposits. The campaign also explains how customers can register for Internet banking in order to manage their finances online as well as make any payment of utility bills, insurance and other occasional expenses directly from the comfort of their home.

“HSBC appreciates that change can be difficult but in the current circumstances it really does make sense for people to use digital channels as well as ATMs and deposit machines. By doing this, customers can avoid the heat and help keep the community safe. While we will continue to provide every possible assistance to customers who visit our branches, I would strongly encourage anyone who may need help or advice on how to use our digital channels to speak to any staff member, especially those wearing a ‘Here to Help’ t-shirt.” concluded Crawford Prentice.

BOV registers €13.8 million profit for the first six months of 2020

Posted on August 3, 2020July 31, 2023 by Developers Think

Bank of Valletta Group has reported a profit before tax of €13.8 million for the first six months of 2020 (compared to €54.3 million in 2019), representing an annual pre-tax return on equity of 2.6 per cent.

The bank noted that the reduction in profit is a result of the COVID-19 pandemic which has impacted all its business lines, as well as with de-risking initiatives which intensified over the past months.

The results for the period under review also include impacts from a number of other areas, including increased depreciation on new IT investments, staff costs as the bank invested more in risk and compliance resources, and expected reduction in foreign exchange and commission income resulting from the de-risking initiatives which have been carried out over the last 12 months. Total costs for the first half of the year increased by €8.2 million to €89.5 million.

Net interest income, which remains the main revenue driver for the group, amounted to €72.3 million, €5.3 million less than the income registered for the same period in 2019.

The persistently low to negative interest rate environment, coupled with a conservative risk appetite, limited investment opportunities and increased levels of liquidity which attract negative interest, resulted in lower earnings on the Bank’s investment portfolio.

Demand for credit was primarily related to liquidity shortages brought about by the COVID-19 pandemic. During the period, the demand for home loans was subdued when compared to previous years and this is mostly attributed to changed consumer behaviour influenced by the pandemic situation.

Commission and trading profits closed at €37.0 million, 19 per cent lower than the first six months of 2019.

The economic slowdown caused by COVID-19 had an adverse effect on commissions earned, especially those relating to the card and payment business and investment related products. Income from foreign exchange transactions was also negatively impacted.

In its statement, BOV said it remains highly liquid, with cash and short-term funds increasing by €178.3 million (4.3 per cent) during the first six months of 2020. Customer deposits increased by over €500 million since the start of the financial year and reached €11.1 billion at the end of June 2020.

Net loans and advances increased by €91 million since December 2019, an annualised growth rate of 4 per cent, and stand at €4.7 billion at 30 June 2020.

HSBC Malta supports TradeMalta’s webinar on the future of supply chains and trade finance

Posted on July 22, 2020July 31, 2023 by Developers Think

A webinar entitled “The future of supply chains and trade finance” is being organised by TradeMalta and supported by HSBC. This online event, which is part of a series of HSBC supported webinars, will take place on Thursday 23 July 2020 at 11.00 am and will feature presentations by experts in their respective fields.

In addition to examining how supply chains and business models have already been significantly impacted by Covid-19, the webinar will also address new options and developments for trade finance in a period of continued uncertainty and volatility.

Joyce Grech, Head of Commercial Banking at HSBC Malta, said “HSBC has been a strategic partner of TradeMalta since its inception and these webinars are the latest in a series of joint initiatives designed to support Maltese businesses in their international aspirations.”

“The webinar will provide important insights for any business owner whose supply chain and trade finance facilities have been impacted by recent events and provide tips on how best to plan for a future which remains uncertain.”

Anton Buttigieg, CEO of TradeMalta, said “Having the full support of HSBC Malta means that TradeMalta continues to deliver support to Malta based businesses which continue to have an international outlook despite the challenging times.”

“The webinar, for which places are limited, will include presentations by Sibel Sirmagul, Regional Head of Product Management, HSBC Global Services (UK) Ltd and Gaetano Sammut, Head of Global Trade and Receivables Finance, HSBC Bank Malta p.l.c.. Participants will be able to ask questions and engage in a discussion on the topic, moderated by Dr Joe Schembri from TradeMalta.”

For more information regarding this webinar, visit www.trademalta.org

HSBC Malta supports TradeMalta’s webinars on international business

Posted on June 23, 2020July 31, 2023 by Developers Think

HSBC Malta is supporting a series of five webinars, organised by TradeMalta, on international business. The webinars will tackle artificial intelligence as a strategic tool for growth, effective networking, digital marketing strategies, trading with Namibia, and the future of supply chains and trade finance.

Ms Grech added that, in the wake of the Covid-19 outbreak, it is more important than ever for businesses to understand what opportunities exist, “and the services and technologies available to access them, especially at a time when travel remains difficult. These seminars will undoubtedly provide some excellent and relevant insights.”

Anton Buttigieg, CEO of TradeMalta, commented “this series of webinars is another initiative aimed at assisting Maltese businesses to sharpen their skills to prepare them for the coming months. Having the full support of HSBC Malta means that we continue delivering support to local businesses during these challenging times.”

The seminars will be led by experts in their respective fields. These will include Dr Gege Gatt from EBO.ai, Jes Camilleri from Think Talent, Matthew Sammut from ICE Malta and Henoch U. Ramakhutla, Namibia’s High Commissioner and Commercial Counsellor.

HSBC’s Sibel Sirmagul and Gaetano Sammut will also lead a webinar on the future of supply chains and trade finance, which will take place on 23rd July 2020.

For more information regarding TradeMalta’s series of webinars visit www.trademalta.org

It is time for businesses to be reopened responsibly – Malta Chamber President

Posted on May 18, 2020July 28, 2023 by Developers Think

President of the Malta Chamber of Commerce, Enterprise and Industry David Xuereb said that it is time to re-open the economy, and for people to return to work, in a safe and responsible way.

He delivered his message in a personal video blog on Monday morning, where he cautioned that mixed messages were resulting in confusion.

Perit Xuereb stressed that the three principles which are to be considered when taking decisions are physical health, economic health and mental health. He stressed that as a Chamber, organisation strongly supports the strengthening of all three factors, stressing that one cannot look at economic health of a nation alone.

He highlighted that as the situation has evolved, societies would have to learn to live with COVID-19. Repeating earlier statements, Perit Xuereb said that it is not realistic to pursue aims of close to zero COVID-19 cases without a widely available vaccine.

“We have to stop focussing on ridding Malta of the virus in the shortest space of time and consider that we need to learn to live with COVID-19 until a vaccine is found. This means social distancing and hygiene remain highly important, and vulnerable people must continue to be protected.”

With the realities of the current situation, Perit Xuereb stressed that it is time to reopen businesses and the economy, and stressed how important it is for employers to be prepared and ready to cater for the safety of their employees.

“Steps towards opening the economy need to be actioned , and this needs to happen as quickly as possible…we need to do this with the utmost professionality and responsibility, so that all key principles are taken care of and we continue to ensure that the number of infected remains low,” he said.

“We should not open at all costs. Confidence must be re-introduced into the economy responsibly and in a way that respects all safety standards.”

On the risk assessments that employers must carry out before re-introducing staff to their workspaces, Perit Xuereb said requirements for employers must be communicated clearly and quickly so that they are as prepared as possible.

“We need to return to work, and those who are scared should only be if their employer is not prepared to provide for safe work environment.

“Let’s go to work, let’s give all we can, maybe a little bit more than before, so that hopefully we can lift ourselves from this situation safely, quickly and sustainably – not just on a business level, but a personal level and a national level.”