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Seoul's chip stocks drop 7.4%

Wars widen as markets question AI debt and governments unwind old taboos in Europe

The day brought a familiar mix of hard power and brittle systems. Missiles tested ceasefire claims, markets tested the AI boom, and governments from Budapest to Jakarta found that old choices still send today's bill.

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World · Updated 34m ago

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Elections·May 31

Malta's Labour Party secures historic fourth consecutive election victory, but majority narrows

Prime Minister Robert Abela declared a 'historic' victory after Malta's snap general election, securing an unprecedented fourth consecutive term for the Labour Party since 2013, though early results suggest a significantly reduced majority.

A historic fourth term

Maltese Prime Minister Robert Abela declared victory for his Labour Party in a snap general election, securing a record-breaking fourth consecutive term in government. Speaking on the state broadcaster TVM, Abela proclaimed the win as historic.

We've written history. This is a victory for all of Malta.

— Robert Abela
He pledged to be a prime minister for all citizens and called for national unity to move the country forward together. The victory extends Labour's hold on power, which began in 2013.

Opposition concedes defeat

The opposition Nationalist Party (PN) conceded the election on Sunday morning. General Secretary Charles Bonello acknowledged the result on TVM, while party leader Alex Borg released a video message on social media confirming he had called Abela to concede.

The people have spoken and we must respect their will. Nobody should be disappointed for having voted for change. This is not the result we wanted, but it is a clear message and we will continue working to be a strong alternative for the country.

— Alex Borg
Borg, a 31-year-old lawyer and former Mr World Malta winner, was only elected PN leader in September of the previous year.

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A narrowing mandate

While Labour won a comfortable parliamentary majority, the margin of victory appeared significantly smaller than in 2022, when the party took 55 percent of all ballots cast. Journalists monitoring the count reported the Labour lead over the PN at around 19,000 votes, nearly halved from the previous election. The final official tally was still being compiled, with counting expected to conclude later in the day. The election, held on Saturday, saw a voter turnout of 87.4 percent, a slight increase from the 2022 general election.

Snap election gamble

Abela called the election in late April, nearly a year ahead of schedule. He cited global geopolitical concerns, specifically mentioning the need for a fresh mandate to guide Malta through a looming energy crisis exacerbated by international tensions, including the Iran war's impact on tourism and inflation. Observers, however, also saw party-political calculation behind the move, given the recent leadership change in the opposition. Malta's economy, heavily dependent on tourism, online gambling, and financial services, grew by 4.0 percent last year, but concerns over quality of life, infrastructure, and state debt transparency featured in the opposition's campaign.

What comes next

Abela, who succeeded Joseph Muscat as Labour leader and prime minister in 2020, is expected to be sworn in on Monday morning. The 48-year-old campaigned on the strength of the economy, government experience, and credibility. The Nationalist Party, in opposition for 13 years, had argued that quality of life had deteriorated despite economic growth in the European Union's smallest nation, criticizing overdevelopment, daily traffic chaos, and a reliance on foreign workers.

Labour Party vote share in Maltese general elections · %
2022
55
2026
50
2022
55 %
2026
50 %
Valletta
Robert AbelaAlex BorgCharles BonelloJoseph Muscat
Alex BorgCharles BonelloJoseph MuscatRobert AbelaValletta

8 sources

  • Labour vince quarta elezione consecutiva a Malta - Europa
    ANSA.it·May 31
  • Malta's Labour Party wins record fourth term in parliamentary election
    Reuters·May 31
  • Malta's prime minister declares historic victory in snap election
    POLITICO·May 31
  • Europäische Union: Maltas Regierungspartei gewinnt Wahl zum vierten Mal in Folge
    ZEIT ONLINE·May 31
  • Victorie istorică în Malta. Partidului Laburist a câștigat în alegerile legislative - Știrile ProTV
    Stirile ProTV·May 31
  • "Haben Geschichte geschrieben": Labour erringt vierten Sieg in Folge in Malta
    N-tv·May 31
  • Maltas Regierungspartei erringt vierten Wahlsieg in Folge
    tagesschau.de·May 31
  • Labour-Sieg bei Parlamentswahl in Malta
    Deutsche Welle·May 31

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