Blockchain technology, somewhat an analogous landscape to that of search engines and e-commerce platforms in the 1990s, is giving rise to substantial Competition Law issues. The question is: are they mutually exclusive?

Following a strong mandate by the European Parliament’s plenary at the end of November, the new College of European Commissioners has now taken office. This transition comes at a crucially important moment for Europe, because addressing long-term challenges requires policy solutions taken today.

Traditionally tax compliance has always been a cumbersome process for both the taxpayers as well as tax collectors. In recent years, the international drive to address the issues of tax avoidance and fraud has led to an increase in compliance and reporting requirements which may be quite burdensome for taxpayers, especially in the case of smaller businesses.

Climate change is the defining challenge of this century. European citizens are increasingly voicing their disconcert and frustration at the current pace of change. On a global scale, last September saw six to seven million people, spanning 4,500 locations in 150 countries take to the streets in one of the largest coordinated global protests. The demand for change has never been higher.

Initial Exchange Offerings (IEOs) are currently one of the means of fundraising in the fintech industry. Exchanges play an important role in the growth of cryptocurrencies and IEOs have been one of the first alternatives to challenge Initial Coin Offerings (ICOs).

Europe‘s prognosis for 2020 is set to face a cautious recession. Dire slowdowns of major European economies and heavy reliance upon austerity policy instruments post-2008 crisis have ultimately borne unsuccessful results -all point to a slow-down for the region.

Employees are always seeking new opportunities to grow, both professionally and personally. In fact, it is cited as one of the top three non-financial motivators, with around 75% of employees seeking opportunities for career growth.

By far numerous sectors within the ambit of the fintech industry, iGaming, commercial and investment areas are nowadays potentially vulnerable to money laundering and funding of terrorism.

As from 2020, groups of companies may vote among themselves to be considered as one fiscal unit in terms of the Income Tax Act. As a result, they would file only one income tax return with respect to all the companies forming part of that fiscal unit. This new fiscal incentive brings significant cash flow advantages for groups of companies set up in Malta.

There are many interpretations to these increases, but when one analyses the figures in greater detail, we noticed that there were a number of one-off rises which had a disproportionate impact on the index over the last year. These included, the price increases of dairy products and bread which also carry a heavy weight on the total index.

Similarly, to other countries such as Australia, Canada and the Czech Republic, Malta has chosen to make it legally permissible to possess medical cannabis which is prescribed by a qualified medic. However, the use of cannabis for recreational purposes remains prohibited.

Our Companies Act provides that a company may only issue new shares against a consideration which consists of ‘assets capable of economic assessment’. This may consist of cash or other assets, whether tangible or intangible, movables or even immovables. This applies either during the incorporation of a new company or at a subsequent increase in share capital. However, not all assets which are capable of economic assessment are allowed by law to be a means of consideration for shares.

In Malta most local businesses are family owned and manage. Many of the businesses are passed from one generation to the next. A relatively small percentage of businesses make a successful transition to the next generation. The reasons why so few transitions succeed are varied. Internal family differences often play a major role in the demise of successful businesses.

Internet security may likely not be a top priority when running your business but neglecting the dangers could be costly while also causing a substantial dent to your reputation. To place the threat in real terms, hackers launch an attack every 39 seconds.

Human Resources and Payroll Management both hold a key role in an employee’s employment experience. However, there still seems to be a misconception among many that HR is solely comprised of Payroll Management. Here are a few points as to why HR is more than just managing payroll.

This article is being published in furtherance to the article published on the 11th July 2019: ‘To regulate or not to regulate’ as part of a series of articles to be published on different aspects of blockchain technology that may necessitate regulation.

It is no surprise that the EU would no longer permit in case of a no-deal scenario intra airline services between the UK and the Member States (MS), likewise the UK will not permit intra services from the EU to the UK, despite the UK not condoning such restrictions.

Studying management is a means to an end of contributing towards the running of a successful business or organisation. In a previous blog post I have shared a view about marketing (a key business management process) being a people business because (i) the market is about people as consumers, (ii) in Business to Business, negotiation is done by people and (iii) non-profit making organisations need to attract the people who make use of their services, engage the people to run them and earn fund raising support.

Team performance is often a concern for just about every organisation, with Management and HR Professionals frequently faced by the issue of unlocking the full potential of their employees. As a largely time-consuming process, here are some key tips for how to truly ignite your organisation’s team performance.

The iGaming industry is one of the fastest growing economic sectors, expected to grow to €25 billion by 2020. This success is the main motivator for new operators to establish iGaming businesses and for existing companies to invest further within the industry. Prospective iGaming operators have a number of options when it comes to establishing a licensed iGaming business.

From the Merkle trees in 1992, to the birth of the first blockchain in 2008, and to today’s widespread adoption of blockchain and other forms of DLT technology, it is clear that technological innovation has picked up momentum. New technologies are being developed, deployed, and replicated faster than ever. During this wave of innovation, how is the regulator expected to react? And what challenges does it face?

A decision of the Constitutional Court of Malta delivered on the 3rd May 2016, confirmed there was an irregularity about Article 13A(1) of the Competition Act which says an appeal may be filed before an Appeals Tribunal from any infringement decision, cease and desist or compliance order, administrative fine and, or daily penalty payment adopted or imposed by the Director General.

Commercially, a bareboat charter transaction takes the form of a lease agreement for a fixed period by virtue of which the lessee acquires complete control and possession of the ship for the duration of the lease, and this transaction is legally formalised through bareboat charter registration. Such transactions are opted for a plethora of reasons which include subsidies or certain cargo reservations which are offered by a particular state at a particular time, and also to lower crewing costs.

When we talk about digitalization, the Blockchain brings us to a whole new level. The so-called distributed-ledger-technology (DLT) does away with the previous thinking of intermediaries and closed systems. But companies still struggle to adopt the new technology and harvest its success. Luckily, Europe and especially Malta are at the forefront of this Development.

There is little doubt that when we talk about the EU, one of the first things that springs to mind is the Single Market. It is probably fair to say that the creation and functioning of the Single Market is one of the, if not the, greatest achievement of the European Union. The implementation of complete freedom of movement of goods, capital, services and labour across such a vast and diverse market is unique and unparalleled.

Membership of the European Union was possibly the most divisive political question since our Independence. Once the decision was taken Malta embarked on a process which saw us officially join the ranks of fully integrated members of the EU some 15 years ago.

Survival of Air Malta is essential for our small island.

With hundreds of MEPs affiliated with political groups of different ideology and emanating from member states of diverse economic and cultural backgrounds, success is only possible through persuasion, persistence and the art of compromise.

The government in India is currently occupied by the Bharatiya Janata Party (BJP) and Prime Minister Narendra Modi.

Helping the family navigate at the crossroads of the determined strategy an emerging issue requires diligent accountability and implementation with the courage to ask the difficult questions.

The past few weeks have been a very exciting time for the Malta Chamber of Commerce, Enterprise and Industry, as the organisation went through the electoral process which it customarily holds every two years, electing a new President and Council that will serve for the period 2019-2021.

Safeguarding your ideas is vital to your business process, whether it’s in the form of a trade name, symbol, invention and/or design.

One should approach succession planning in a family business not by thinking about when you are ready to leave, but when the next generation is ready to lead.

Located along the Mediterranean’s principal shipping routes, Malta has established itself as one of the leading maritime hubs for both the leisure and commercial sectors.

While the renewal of the EU is clearly progressive and certainly needed, with the loss of our strongest partner, the UK, Malta must remain vigilant and be fully involved in any reforms of the EU project.

When clients seek to invest their wealth, they often require experts to manage their investment portfolio.

In family businesses, the ability to communicate openly about issues critical to both the business and the family is essential for the health of both the family and the business.

One welcomes the new financial crime compliance plan Vision 2021 announced by the Malta Financial Services Authority (MFSA).

The decision to turn an enterprise into a family business by bringing one's children into ownership or management is among the most profound and petrifying choices that an entrepreneur can make.

Business diversification can open up a number of opportunities, but the risks and uncertainty tied to this strategy can have long-term repercussions.

For small and peripheral EU states, losing full sovereignty on tax matters will have huge repercussions on their economy if EU legislation is passed by qualified majority voting.

The Maltese population generally leans towards home-ownership, and though this may be influenced by several factors, the lack of adequate regulation of the rental market is bound to be a contributing factor.

Pythagoras once said that numbers rule the universe.

We should not assume that Malta will escape the rising tide of populism without pre-emptive action.

There are really only two human enterprises: creation and implementation.

What appeared to be science-fiction not so long ago is becoming reality with the advent of self-driving vehicles.

Today, the legal function within the organisation plays a far more critical role than it did in the past, given the greater scrutiny of business overall and the continuous increase in oversight regulation.

The primary role of capital markets is to match the needs of organisations seeking funding with the needs of investors that have excess supply of capital ready to invest.

The central question we want to see taking centre-stage in the upcoming campaign is how can we contribute towards a better European Union.

When you combine Blockchain and IoT, you have a common practicality: a distributed internet of things and a distributed ledger technology.

Governments can lead by example and given their extensive purchasing power, can shape patterns of growth.

Every business leader agrees that innovation is important, yet nobody can quite seem to agree on what it actually is.

From the day of the One Belt, One Road initiativeinauguration, the Maltese government has shown interest in developing this opportunity further.

The rise of automation through AI means that machines are already able to do many jobs previously done by humans.

The telecom industry is continuously evolving so as to provide cutting edge technology, enabling the development of iGaming.

There many different methods and even theories on how languages should be taught. I have asked three of our professional language lecturers to let me have their views on this subject.

The Social Good Foundation is a company whose ICO raised an impressive $30 million from overseas private institutional investors.

The European institutions are currently negotiating the Future EU Budget, a multiannual financial framework for the period 2021-2027.

As the IoT ecosystem expands, so does the attack surface which can be exploited by cybercriminals.

At a time of unprecedented GDP growth in the country, the Budget did not seem to give a long-term direction in terms of how Government intends to consolidate this prosperity.

The concept reflects the fact that the physical and digital worlds are continuously merging together as one.

We often used to joke about trends and technology being well past their expiry date by the time they reached our shores. But this is no longer the case.

The Internet of Things (IoT) is no longer a mere buzzword.

Even though I am still navigating my way through the complexities of a family business, I have learnt a couple of lessons that I can already share.

All lines of evidence taken together make it an unambiguous conclusion that the increase in carbon dioxide concentrations is human-induced, and is predominantly a result of fossil fuel burning.

Anyone employed in a banking environment will know how time-consuming the physical handling of money is, and what a considerable part of the banking process it constitutes.

Today’s economic and political climate presents many challenges to both protecting and growing your capital.

Imagine the things you would do, if you could at least master another language.

Any transformation initiative will at some point or other affect the way people do things, the way people need to think, reason and act.

When the purpose, scope and objective of novel technologies are explained in a clear manner, one is able to embrace the need for change and ultimately support such change.

Cartel enforcement appeals and damages actions in the Maltese islands are being overhauled, and recent case law has been the trigger that necessitated this change.

A more skilled and inquisitive labour force means that we may have just acquired the tools to be more innovative in our business models and embrace newly-emerging concepts shaping the industry.

Population growth is a matter that has lately been rising to the top of the country’s agenda.

Both the stimuli for change and the way change is perceived and handled will vary dramatically from company to company.

Whilst rising prices are typically a sign of positive growth, a sustained increase in house prices should not be taken lightly.

In the eyes of your customers, your frontline staff is the face of the company, where first impressions are formed.

It is an undeniable fact that we are currently seeing the evolution of businesses towards the use of digital technologies.

As disruption envelops organisations across industries, we will probably need to put aside our management textbooks and reinvent ourselves and the way we think.

While some companies take action to fulfil their social and environmental responsibilities, they then fail to communicate their efforts to relevant stakeholders. Here's why it's a missed opportunity.

Latvia is currently awash with allegations of money laundering and corruption, arising out of illicit flow of Russian funds.

Organisations can use the marketing route in its day-to-day operations, to communicate the vision, mission and corporate values.

Building upon the first Education Package released in January 2018, the latest set of initiatives published in May seeks to actualise this goal.

The European Commission has put forward new rules that will help crowdfunding platforms to grow across the EU's single market, increasing the potential for start-ups and SMEs to attract funding from across the EU.

Cryptocurrency CFDs could officially become reportable under MiFID II - it is up to the EU regulators to permit authorisation by amending current legislation.

Members in all the three of our economic groups are presently united in facing a common challenge – the lack of human resources with adequate skills.

Companies that want to survive current challenges understand that operating sustainably not only benefits society at large, but also contributes towards the long-term (and sometimes short-term) profitability of their enterprises.

Numerous studies around the world have shown time and again that increasing paternity leave gets men more involved at home, promotes women’s participation in the workplace and boosts the economy overall.

The one-stop-shop at Business 1st has achieved another milestone with the integration of the VAT customer care services within the Business 1st set up at Mriehel.

BPMN has been credited with facilitating the understanding of the performance collaborations and business transactions between organisations, among other things.

When you’re planning your marketing strategy, the obvious priorities are building people’s awareness about brand, connecting it to positive vibes, making it ‘customer friendly’, and most importantly, making it easy to remember.

Some view having your own business as liberating and relieving - however, this is rarely ever the case!

The EU’s approach should be also focusing more on promoting more investment in childcare and elderly care facilities and encouraging more fiscal incentives for working parents.

Public Relations (PR) is a tool which organisations can use to build and maintain image, reputation and relationships with all stakeholders.

Many of today’s management veterans remember the days when processes were stored inside people’s heads.

Larger EU member states want tax harmonisation, and some fear that a stalemate brought by opposition from small states can be ended if the European Commission triggers a neglected article of the EU constitutional treaty to suspend states' veto powers on tax matters.

The premise that CSR is a luxury afforded only to very large companies is a fallacy. Indeed, small and medium-sized companies cannot afford not to engage in CSR.

Companies cannot afford to employ staff without education or wait for them to learn only through experience, as this might be quite costly in more than one way.

The concept of venture capital has proven to be one of the most successful financing concepts in the United States, much to the envy of the rest of the world.

How dependent on you is your business? Would it operate as efficiently without your constant presence?

An organisation is built on the three pillars of people, technology and process.

Strategic planning is an essential dogma for successful businesses. However, simply creating a great plan does not mean that it will be a lucrative one, especially when it comes to putting it into action.

The European Commission has published a new education package comprising of three proposals that seek to improve European citizens’ skills.

PKF has the pleasure and privilege of inviting interested persons to visit the Cambridge Innovation Center (CIC) Thought Leadership centre in Rotterdam, the Netherlands.

Has marketing become digital? The answer is decisively no. Is digital important in marketing? Of course it is, and its importance will only continue to increase.

Financial literacy – or having the skills, knowledge and resources to manage your finances properly – could mean the difference between achieving success in the long run or not.

In the last few years, Chinese immigration has become an interesting topic, primarily due to a keen interest being shown by Chinese investors who have sought to obtain permanent residency or citizenship through the schemes offered by the Government.

Having strong engagement within a company yields better results in general

Change remains one of the most topical – and in many ways, still controversial – aspects of organisational management.

At a slow but unrelenting pace, the mood for change in Europe is getting stronger following the BEPS and ATID measures, not to mention the negative publicity from the PANA review.

Now that Valletta 2018 is round the corner, it is satisfying to note that the build-up of marketing towards it has generated a positive effect for the Maltese islands.

When one looks back at President Juncker’s 10 political guidelines that were set at the beginning of his mandate, one concludes that this last Commission programme is a continuation of the work undertaken over the past four years, and aims to complete some of the political projects.

It pays organisations to capitalise on special occasions with elements which contribute to and/or are compatible with the reasons for their existence and growth path.

For a business to be successful, it is crucial for there to be continued incremental improvements in all areas of the business throughout.

Thanks to digitisation, companies are racing to migrate ‘analog’ approaches to customers, products, services, and operating models to an always-on, real-time, and information-rich marketplace

How can we tell if the constant barrage in the media to combat climate change is not another hoax like the millennium bug?

Any success story has an equally interesting story of commitment by one or more that have chosen to give their utmost, irrespective of what is thrown at them.

The following 10-step framework has been devised to help small and medium businesses and their leaders towards developing a successful strategy to achieve breakthrough growth.

True and free journalism is indispensable in any modern democracy as it safeguards morality and ethics across all society.

Sponsorships can in be effectively used by organisations, whether profit or non-profit making, to achieve their objectives and communicate them.

On 25th October I had the privilege of addressing a national event of great proportion – EY’s Annual Attractiveness Event which drew a crowd of around 800 people.

In recent years, small and medium-sized enterprises (SMEs) have emerged from the periphery in government policy, and institutional as well as academic research, not least because of their acknowledged contribution to modern economies as employers.

"I am a believer that marketing is a people business."

Over the past decade the EU was unknowingly on track – or most would say in denial – towards a slow and natural death.

61 per cent of deaths at work and 15 per cent of serious injuries in Malta occur within the construction industry - a disproportionately high figure, considering that the construction industry accounts for only 7 per cent of the Maltese workforce.

It was my great pleasure as President of the Malta Chamber to welcome the Prime Minister of Malta Dr Joseph Muscat, and a vast portion of his cabinet recently, for a meeting with the Council of the Malta Chamber.

Business meetings yield real, tangible bottom-line results that can’t be achieved any other way.

Family firms are in fashion. Everyone seems to like them – management thinkers, politicians and the public. Everyone, that is, except the next generation.

Blockchain can eliminate the inefficiencies currently plaguing the property search process, empowering users to make faster, well informed decisions.

Irrespective of the size or type of operation, any organisation must be well prepared to undertake an internal process of evolution.

Over time, Malta will be able to look back, observe and appreciate the outcomes of reforms implemented as a result of agreements it facilitated when at the helm of the EU presidency.

As an employer or business owner with employees working in an office environment, cost efficiency is a chief concern; how little can I spend whilst still generating maximum performances from employees?

When we become a manager for the first time however we have to perform a necessary shift in mindset in order to continue to succeed.

The implementation of a marketing plan and business projects needs financial back-up and hence requires a budget allocation.

The news that a visually impaired man with a guide dog was refused entry to a local eatery sparked a strong public outcry.

Building information modelling (BIM) is a process involving the generation and management of digital representations of physical and functional characteristics of places. Is the local industry prepared for such a challenge? The short answer is ‘No’.

‘How can I combine my private and professional life?’ – All parents and carers are confronted with this basic question more than once in their career. And this is especially true for women.

Pricing is always an important consideration in business, especially in an environment of cut-throat competition, when we think that the market is saturated and that customers look for nothing else but price. But are we sure that this is the reality?

The aim of any bridge is to span from point A to point B, hopefully providing a shorter route and safe access. At iAS, we believe that bridges can serve as much more than a mere physical link between two points.

By now we are all familiar with the colossal mistake that occurred during the 2017 Oscars. In my 30-year profession, I have seen accountants blamed for many things, but it never occurred to me that we would also manage to give our two-penny worth at an Oscars event.

On 25th March, leaders of the 27 EU member states (UK excluded) will gather in Rome, together with Senior Representatives of the European Institutions, to mark the 60th anniversary of the signature of the Treaty of Rome. The timing of this special anniversary is almost Kafkaesque...

It might sound painfully obvious, but you really shouldn’t stick people with different backgrounds and different aims in the same office environment and expect them to thrive equally. However, a quick look around you might just prove that the exact opposite tends to be the case.

Following the questions in Part 1, here are a few more questions you should ask yourself when thinking of investing.

I am a firm believer in the EU project. I feel that there is a lot more that one can gain from being a member of the Union than remaining out of it.

With a few extra steps, your workspace can be transformed into an inspiring, functional environment to get the job done and save on space and money in the process.

That is the question we are starting 2017 with. It is definitely not the existential problem that Shakespeare’s Hamlet put to himself, but I think it is a good place to start.

Whilst most businesses carry out a number of effective marketing initiatives, the mindset of business leaders is on how a product or service is going to be sold – but even here it is essential to be clear on what we are selling.

In my last contribution to this blog, I outlined the main characteristics of the Investment Plan for Europe – the EU's response to reverse the decline in investment in the aftermath of the economic crisis. A number of key developments are worth highlighting since then.

Recruiters are ever on the lookout for innovative techniques to attract and assess quality talent. An example of this is gamification, the use of game mechanics to attract a larger audience – but this is just one small part of the revolution that is currently brewing in the world of candidate attraction. Artificial intelligence (AI) is another potent new ingredient.

Tech and finance have managed to combine seamlessly to give rise to FinTech. Financial Technology, also known as FinTech, is an industry composed of companies that use technology to provide financial services, enable provision of financial services (through utilisation of technology) or drive technological innovation in the provision of financial services.

Given that we’re moving into the year 2017, phenomena such as occupational sexism, wage discrimination and glass ceilings should, by now, have been firmly relegated to the history section of sociology books.

The selection process in the world of recruitment has remained unchanged for decades, but is it the best formula to identify the most suitable candidate for an open vacancy? It is worth questioning age-old practices to see if they are the best route to successful recruitment, particularly today where available talent is scarce, especially within the IT field.

Many argue that the EU lost its social conscience during the recent economic and financial crisis. State aid rules were side-lined for a while to assist ailing banks in a number of EU member states; temporary support measures were introduced in order for businesses to cushion the downturn; and ultimately the stimuli that the government had offered during the recession, which led to a substantial increase in sovereign debt in many member states, had to be repaid.

Having an identity is important for all organisations, whether profit or nonprofit making. In financial and legal terms, an organisation is described as ‘a distinct legal personality’. The term ‘personality’ can be viewed from a marketing perspective in the context of what makes up a corporate identity, and how it can be built.

Work-life balance is playing an increasingly pivotal role when companies formulate their HR strategies. This is in part due to the established reality that the tables have turned, and candidates are no longer subjected to one-sided corporate directives – ever more so within the IT industry.

Twelve years after the launch of the White Paper on pensions reform, Malta’s pension landscape remains an anomalous one when compared to other EU Member States and advanced economies elsewhere.

There's an invisible profit-killer running amok in your office. His name? Noise. His weapon of choice? Distraction. Wreaking psychological and physical havoc on your people, this unseen saboteur chips away at the bottom line of companies across Malta and Gozo.

Fintech seems to be the new buzz word the world over, and Malta is no different. Accenture reports that Global investment in Fintech in the first three months of 2016 reached $5.3 billion, a 67 percent increase over the same period last year.

In 2014, the Government passed legislation whereby individuals who choose to enter into a Private Pension Fund are entitled to a tax rebate of 15 per cent (capped at €150). On reaching retirement age, (between 50 and 75 years of age), one could withdraw 30 per cent of their savings as a lump sum, tax-free.

In part one, I addressed the problem of the ‘start-up fashion’ and why things can go quite wrong. But how do we fix it? Here is my five-point plan.

A brand is an asset of which value is measured by the percentage contribution to total profit. An organisation owning or representing brands is likely to enjoy many advantages through having them.

The pension conversation is a hot topic at the moment. In simple terms, it refers to ensuring that one manages to maintain one’s current lifestyle after retirement age. If one wants to travel and make more purchases in retirement, one will have to save more.

Are start-ups important? Yes, of course. But it looks like things can go quite wrong.

In her last blog post, Elena Grech, Head of the European Commission Representation, outlined the main thrust of the Investment Plan for Europe. Now, I would like to present the main findings of the stocktaking exercise one year after the Plan's launch, and give some pointers on the task ahead.

Home offices have become increasingly popular in Malta, ever since speedy and secure internet connections made more flexible work arrangements possible.

The 2007 reforms acted, unequivocally, as a break on a pension system which, had it remained unchanged, would by 2050 jeopardise Government’s ability to provide an adequate pension to future pensioners. The reforms in 2015 sought to strengthen the adequacy of the income of current pensioners receiving a low pension income and who are at risk of poverty.

Malta needs an economic and social development programme. These are words that I am choosing very carefully.

Things are rarely as bad as they seem – the drama is not as big, and shouldn’t be dealt with in such an unhealthy high profile manner, despite the environment of uncomfortable uncertainty, particularly for Britain, at the moment.

A common perception of marketing, derived through what we see, read and hear about every day, is associated with terms such as traditional marketing, content, social media, digital, and other media which in essence, relate to marketing communications.

Cyber-attacks have been on the rise in the past 12 months, and business organisations in Malta have not been spared from this digital global reality. Local organisations large and small have seen an increase in sophisticated and targeted security attacks, ranging from sophisticated phishing email attacks to malware attacks in the form of ransomware.

There is universal acceptance that the labour market patterns of men and women are different. The pension system is based on the traditional family model: an uninterrupted working career – resulting in male-breadwinner households. Gender differences render it more difficult for women to save for retirement than men.

What if much of our accumulated experience and education, familiar and comfortable mind-sets and decision patterns won’t help us manage our future businesses, projects, education and career – or become at least fairly questionable?

The wider side of the marketing function within businesses is that, in principle, the needs and wants of people and organisations need to be satisfied through the provision of products and services. How can we identify, anticipate and satisfy the needs and wants of customers whilst making a just profit?

The world of investments and finance is in constant evolution. Although market principles remain steadfast, the sector readily responds to change and has a proven track record as an early adopter of new technology.

There is a significant structural shift to detect in globalisation – an impact which will overturn the old order, upscaling and changing our perception by rethinking what it means to do business globally.

I must admit that I found the Green Paper on mobile government which the Malta Information Technology Agency (MITA) placed in the public domain earlier this year to be extremely disappointing. I understand that a Green Paper is normally far less detailed than a White Paper. Nevertheless, one would have expected that it would have presented a far more comprehensive overview of how mobile apps can be applied within Government and the strategic orientation thereof – given that smart phone technology has been pervasive since the late 2000s.

The European Semester is the EU’s annual cycle of economic policy coordination. Each year, the Commission undertakes a detailed analysis of EU Member States’ plans for budgetary, macroeconomic and structural reforms and provides them with country-specific recommendations intended to encourage national efforts to further boost jobs and growth for the coming 12-18 months.

Taking a quick look around, it’s impossible to overlook the tall buildings cropping up. The already established high-rise buildings will not remain so unique for a very long time – probably having been surpassed in a few years. This is the new allure. Yet, there is still concern with respect to the related economic, environmental and social implications.

The fertility rate is falling, and the world’s population is greying dramatically both in developed and emerging countries. A third of the global labour workforce will retire in the next 10 years, which will change the scenery as never before, as well as challenging public budgets. A generation of older people is about to change the global economy in many aspects, and will reshape the business landscape in rich countries as they become increasingly well-funded consumers.

The European Union is the result of the ‘desire of the peoples of Europe to transcend their ancient divisions in order to forge a common destiny, while remaining proud of their national identities and history’ – a noble project founded on the values of respect for human dignity, liberty, democracy, equality, the rule of law and respect for human rights, including the rights of persons belonging to minorities.

The two main political parties rarely converge on fundamental reforms necessary for the continued well-being of Malta; or when they do agree, they do so by shying away from such reforms so that the status quo is not upset. Both lead to paralysis in the short term as well as burdening future generations with onerous legacies.

Many new and arising disruptive technologies and developments are very welcome, but while a few are questionable, one type in particular may cause serious problems unless it is dealt with and strictly regulated.

Fintech, short for ‘financial technology’ seems to be the latest catchphrase in the financial services industry. However, there is more to it than meets the eye. Only last week, Dr Abdalla Kablan discussed this subject during the 9th Finance Malta Annual Conference.

Nowadays we are living in an information economy where interaction with individuals is assuming added importance. Technology is enabling organisations to become more relevant by taking a more customised and personal approach. With this digital transformation scenario as a backdrop, the European Union is strengthening data protection for individuals across the union by regulating data privacy through the General Data Protection Regulation (GDPR).

Today, even the pace of innovation seems to be on its edge, with technology and society evolving at a faster pace than businesses can adjust to. This is challenging any leadership to ‘adapt or die.’

It may come to be but it will not last. With due apologies to John Donne, no country is an island… economically speaking, at the very least.

The current College of European Commissioners took office in November 2014, at a time when the first signs of economic recovery from the financial crisis were just being registered.

At the beginning of the 20th century, the world’s urban population was only 220 million, mainly across the west. In 1900, two out of every ten people lived in an urban area. Today, more than half of our global population is living in cities – 55 per cent, according to the UN.

Following a recent publication in the Times of Malta, we are being asked on a regular basis whether an employer in Malta can have rules which regulate tattoos in the workplace.

2004 saw a wide-ranging reform of the pension system. The reform was not limited to the state pension, but embraced other fundamentals such as saving for retirement, increasing labour participation and addressing changing norms.

It is an undeniable fact that an economy cannot grow and flourish unless SMEs are fully engaged in the process. They are the prime driver both for GDP growth and job creation, contributing 73 per cent of value added and 78 per cent of total employment.

The world economy is changing at a pace never witnessed before in history. Is it all for the worse? No, most is the opposite!

Accountancy firms and similar professional services businesses (of all sizes) are not only competing for market share but also for the human resources necessary to deliver their services. Throughout the last ten years or so, there has been a constant scenario where local accountants’ supply was less than the demand.

The 22nd April is commemorated on an international level as Earth Day and, from that date up until 21st April 2017, more than 150 country representatives to the UN in New York will have signed the agreement reached at the COP 21 conference in Paris in November 2015.

Over the 168 years of its lifetime, the Malta Chamber has constantly kept tabs on where Malta’s commercial sectors were going, in order to stay ahead of the curve in all matters related to commerce and the economy.

The 6.3 per cent real economic growth registered in 2015 exceeded all expectations. This jump, which is higher both when compared to the previous year and the growth registered across the EU, has been building on the momentum set up in previous years.

I was delighted to be approached to contribute as a blogger on this impressive business portal. It well and truly does justice to the Malta Chamber and Content House Ltd, who have joined forces in putting it all together.

Regularly stuck in traffic, I keep wondering about wasted energy. Seeing the considerable time squandered and the quantity of fuels burned in private transportation, energy efficiency and convenience must be the prime motivators for technology improvements.