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Mapfre Middlesea AGM was held remotely and streamed live on its website. Commenting on the year under review, chairman Martin Galea remarked that Mapfre Middlesea and Mapfre MSV Life have both performed well in spite of the pandemic. Both companies posted excellent returns. While Mapfre Middlesea posted a profit after tax of €4.12 million (2019 €4.01 excluding Group Dividends), Mapfre MSV Life posted a profit of €10.33 million (2019 €11.75 million) of which half is attributable to Mapfre Middlesea (the remaining half being owned by the bank). Due to these excellent returns Mapfre Middlesea will be issuing a net dividend of €3.20 million being 77.7 per cent of the company profit.
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[WATCH] Downward pressure on salaries caused by foreign workers needs attention, says finance minister
Finance Minister Clyde Caruana kicks off a consultation process to have a new employment policy by October that will address 12 key challenges, including stagnating salaries, underemployment, lack of skills and pressures caused by foreign workers
27 January 2021, 10:09am
by Kurt Sansone
Foreign workers and the downward pressure they put on salaries is one of the challenges a new employment policy has to address, the government has acknowledged.
The importation of foreign workers was a key component of the government’s economic strategy of the past seven years.