Mon - Fri: 9:00 - 17:30
Sat-Sun Closed
+356 21244895
Phone
55/1 Giuseppe Calì Street XBX1425 Ta' Xbiex Malta

News

Tags: ,

1WMF -We Make Future, the Festival of Digital and Social Innovation in Rimini.

Three days of conditioning, confrontation and dialogue, for an Innovation Festival that will be the point of international reference for the construction of a future and sustainable. The last edition of the WMF, the biggest festival on the Digital Innovation of the Planet, heat motors with more than 100 events on various topics (business, networking, music and entertainment, cinema, art, culture and entertainment, training, always heart of the event) who will accompany participants and more than 600 guests and speakers (selected from a total of 1.000 applications) in the discover of the innovation universe. A great event with which Italy is present at the World Cup of Consideration of a Determinant Contributor to International Cooperation in the Innovation of Diplomacy.

The meeting is on June 16th, 17th and 18th in Rimini Fiera, a new location of the event organized by the Search On Media Group and the main sponsor of the event of the Emilia-Romagna Region. The event is sponsored by the Municipality of Rimini, the Municipality of Bologna, the Italian Space Agency, the Sport and Salute Spa, the Clust-Er and Qualitytravel as the media partner of the event.

Many novelties of WMF2022, starting from the Innovation Fair with new spaces, which will include 250 exhibitors for a photo of the current state of ownership and digital innovation - Italian and international - and a good guide more important in digital formation - with 77 stages, 600 speakers and speakers present - also the official title of the International Fair. Among partners and exhibitors, Intel, Aruba, Assocamerestero, Huawei, Enel, Rai, ESA - Spaziale Europea, Chora Media, Ministero della Cultura, Mediaset Infinity, Mailchimp, Storyblock, Nexi, ISIPM, Manzoni, SiteGround, OPLON, SAP, Sprinkler, Active Powered, EURid and Il Sole 24 Ore. RDS is the official radio partner of the event.

Novelty of WMF2022 is also the coordinated participation of the Italian Chambers of Commerce Abroad who has been “called” to involve foreign partners which are the strategic ones of ITALY. Actually, within Assoamerestero national Expo Area (booth 101) there will be present delegates of 12 Italian Chambers of Commerce coming from: Australia-Melbourne, Bulgaria, Canada, Croatia, France-Nice, Malta, Portugal, Czech Republic, Thessaloniki, Serbia e Switzerland.

Beyond their presence in Expo Area (booth 101) of the INNOVATION FAIR to get

Malta Business Weekly MIA OPTIMISTIC EASING OF COVID 19 RESTRICTIONS WILL PUSH NUMBER OF TRAVELLERS UPThe Malta International Airport is optimistic that the easing of Covid-19 restrictions will encourage more people to travel.

Speaking at the MIA’s 30th annual general meeting, chairman of the MIA Nikolaus Gretzmacher said that in 2021, MIA ended the year with 2.54 million passenger movements which marked a recovery of 35% over traffic in 2019, translating to a third of record numbers pre-pandemic. Gretzmacher said that despite this percentage, the company was successful in closing the year with a net profit of €7 million by effectively adopting a cost-cutting programme.

MIA Chief Executive Officer Alan Borg presented the financial results for the year of 2021. He said that the pandemic was a crisis which set the industry back decades.The total revenue of the company in 2021 was €47.4 million, a change of 47.4% from the 2020 revenue. The Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for 2021 recorded €24.1 millionCapital expenditure for 2021 was that of €9.2 million, a decrease from the 2020 expenditure of €16.3 million.

Borg said that all staff had to sacrifice a percentage of their salary during the year, which led to a 21.7% reduction on staff costs from 2020. In 2021, €6,774,849 was spent on staff. 

The total comprehensive income/loss for 2021 was that of €6,973,954. Borg said that marketing and communications costs, as well as other operating expenses took a hit during the year and were done when absolutely necessary. He said that expenses in this regard had to be reduced accordingly.

The total other operating expenses amounted to €16,371,370, a 7.5% decrease from that of 2020.

With regards to share performance and stock prices, Borg said that the stock prices recovered well and the MIA is still the largest entity on the Malta stock exchange. The stock price at year end in 2021 was that of €6 million.

Borg said that Malta’s growth rate in terms of yearly traffic performance since 2015 has been increasingly high, which, however, dropped significantly in 2020. 2019 numbers recorded 7.31 million passengers, which dropped substantially 1.75 million passengers in 2020. Moreover, 2021 recorded 2.54 million passengers, showing a slow recovery.

Seat capacity recovered at a faster pace, with 4,135,138 seats in 2021. Borg said that consumer

TimesofMalta LA TRASFORMAZIONE DIGITALE DEI SERVIZI PUBBLICI FARÀ RISPARMIARE TEMPO E DENARO CAMERA DI MALTAA comprehensive digital transformation of public services could address many of Malta’s operational weaknesses, the Malta Chamber said on Thursday.

In a statement, it said that, If done well, this will save businesses, citizens and government a lot of time and money that is wasted on duplication of data inputting with various government entities.

It will also render the processes more transparent and less prone to manipulation and clientelism and will ultimately improve the ease of doing business, strengthen governance and enforcement capabilities, improving the country’s attractiveness as a location for foreign investment.

The chamber hoped that it will also help identify waste and free excess human resources for more productive employment in the private sector, where labour shortages are hampering the recovery of several industries.

“There are tough decisions to be made in the coming months, but it is imperative to make them. Given the current international scenario, delaying tough decisions further could backfire badly because energy prices are bound to remain high for a prolonged period and supply chain bottlenecks will not ease before the economic growth of large economies starts buckling under inflationary pressures.

“We have managed to contain a significant portion of the impact on the Maltese economy so far, but we should not be naïve to think that we can do so indefinitely. A judicious approach to public spending is warranted, and a smarter allocation of resources in both the public as well as the private sector is necessary to safeguard our competitiveness and mitigate long-term adverse effects of the current global challenges,” the chamber said.

The statement was issued in reference to announcements made over the past years including the government’s commitment to maintaining stability in energy prices and trimming waste in government spending.

It was also in reference to Tony Sultana’s appointment as Principal Permanent Secretary, which is being seen as a commitment towards the implementation of the digital transformation of the public service that has been on the cards for several years.

The chamber noted that although Malta was one of the first movers on eGovernment, it has been overtaken by many countries in recent years.

 

TM logo

ARTICLE WRITTEN BY TIMES MALTA

FOLLOW THE UPDATES ON THE TIMES MALTA

Malta Independent MALTA MONEYBASE LAUNCHES 5000 FREE CARDS FOLLOWING HUGE RESPONSEMoneybase, the first Maltese digital payments app, generated an overwhelmingly positive local response, obtaining over five thousand downloads in its first week.

Alan Cuschieri, founder of Moneybase and co-CEO at Calamatta Cuschieri said: "We are thrilled with the positive response and encouragement received, and we are giving away 5,000 free cards to match the number of downloads this week. At the same time, we are rolling out person-to-person payments to all users in the coming days. We are working closely with the Maltese community to shape the next-generation financial platform and to make money simple."

The highly sought-after person-to-person payments feature will be activated on the Moneybase app in the coming days. Moneybase users can now make instant payments to each other through their phone's contacts list. The app also offers users the option to send and receive Single European Payment Area (SEPA) payments in 34 countries.

Moneybase users save money when using the Moneybase card thanks to its competitive currency rates and multi-currency capabilities. The card can also be used to make contactless payments and withdrawals from ATMs worldwide thanks to the global Mastercard network. Moneybase users can even use the app to instantly create a virtual card, which can be used to safely pay online using convenient 3DS2 technology.

The Moneybase app allows users to remain in full control of their card, users can freeze, unfreeze and cancel their cards at any time as well as take advantage of other settings such as viewing their PIN within the app or switching on and off channels such as ATM, online and swipe transactions.

This digital payments platform also comes with three options for users to add funds to their account. Users can initiate a SEPA Direct debit deposit from the Moneybase app, they can make bank transfers to their personal Moneybase IBAN, or use the instant deposit function from their debit or credit card.

Additional benefits to the app include its investment features and the customer care service which is provided seven days a week.

The app may be downloaded from either the Android or Apple Store. Visit www.moneybase.com or follow Moneybase's social media accounts for more information.

 

 R 3

ARTICLE WRITTEN BY MALTA INDEPENDENT

FOLLOW THE UPDATES ON MALTA INDEPENDENT

Malta was first placed on the Financial Action Task Force's so-called grey list of untrustworthy jurisdictions in June 2021. Photo: Shutterstock.

Malta was voted off the Financial Action Task Force grey list on Wednesday, one year after first being labelled an untrustworthy financial jurisdiction by the global watchdog. 

The FATF vote is secret and a formal announcement of that decision will only be made at the end of its plenary, on Friday afternoon.  

However, Times of Malta has confirmed that Malta’s financial regime was given the all-clear in a high-level plenary vote at around 5pm in Berlin. 

Being placed on the grey list meant the country was put under increased scrutiny by international assessors and bodies. 

The decision to take Malta off the list comes four months after the FATF publicly announced that initial indications showed that Malta had substantially completed the necessary reforms and appeared to have addressed the shortcomings identified. 

Malta had been told to implement a long list of changes to the way it combats tax evasion, collects information on ultimate beneficial ownership, and the way it shares information with local and international authorities.

Those issues were at the heart of a FATF action plan which Malta had to implement before being given a clean bill of health by the global anti-money laundering body. 

In media comments, Prime Minister Robert Abela said he would respect FATF confidentiality requirements and comment only when the plenary meeting of the FATF was concluded on Friday.

He stressed, however, that Malta remained committed to the reforms discussed with the FATF so that country would continue to be strengthened as a serious financial jurisdiction.

In a statement, the Nationalist Party welcomed the news that Malta had been taken off the grey list.

It said that Malta's reputation should never have been tarnished in this way, because of mistaken government decisions. The end result had been that various local entities were scrutinised like never before, to the detriment of many people. 

The fact that Malta was now being taken off the grey list proved that Opposition leader Bernard Grech had been right when he said that Malta could be taken off the list in three months after the general election, the PN added. 

TM logo

ARTICLE WRITTEN BY TIMES MALTA

FOLLOW THE UPDATES ON THE TIMES MALTA

TimesofMalta MALTA COMPANIES TO START PAYING TAX THAT WAS DEFERRED THROUGH COVID SCHEMEBusinesses that availed themselves of a tax postponement measure that had been launched back in March 2020 are going to have to start paying their bills.

As part of the packet of Covid-19 financial aid, the finance ministry in March 2020 had implemented a scheme that postponed the payment of taxes in order to help companies and businesses with their liquidity difficulties.

This measure had been extended to December 2021, with the exception of taxes paid by employers under the FSS scheme, the government said.

The Tax Commissioner has announced that the beneficiaries of this tax deferral scheme will be given the possibility to pay the taxes that were eligible under this measure over a period of 30 months, until the end of December 2024, the government added.

The first amount will begin being paid in June 2022, with payments each month. During this period, interest on the deferred taxes is frozen.

In the case that beneficiaries do not do this by the end of December 2024, the benefits given under the tax deferment scheme can be lost and the interest would again be owed on the amount that would not be paid, just as though the scheme did not apply, the government said.

During this period, the government said, businesses are expected to also pay their taxes of the current period.

In cases where businesses have a balance of other periods owed that are not covered under the deferred tax scheme, these must also be paid by December 2024, as long as there isn't a different agreement with the Office of the Tax Commissioner, the government said. Individuals or commercial entities that have some difficulty in doing this are urged to come forward and speak with the Office of the Tax Commissioner.

In addition, informative meetings with all those interested partners will take place, in order to explain how this process will work. For more information call 144 or email This email address is being protected from spambots. You need JavaScript enabled to view it..

 

R 3

 

 

ARTICLE WRITTEN BY MALTA INDEPENDENT

FOLLOW THE UPDATES ON THE MALTA INDEPENDENT 

Image
Image
Image
Image
Image
Image
Image
Image
Image
© Copyright 2022 MALTESE ITALIAN CHAMBER OF COMMERCE. All Rights Reserved.