Comment
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The three certainties of a valid trust
The three certainties which must be present for the creation of a valid trust are the certainty of intention to create a trust; the certainty of identity of the subject matter of the trust; and the certainty of the beneficiaries of the...
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Vetting VAT action in court
It has been a busy period in our law courts and we have witnessed the delivery of a number of judgments seeking to highlight the correct procedure to be followed by the VAT Department in its actions through the filing of judicial letters. A First...
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The risks of low interest rates
Central Bankers believe that low interest rates are the best weapon they have to fight the current global economic slump which is inflicting misery on millions of people. Interest rates are at an all-time low and, in most cases, real interest rates...
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Energy tariffs need efficiency
So far the political debate leading to the next general election has been dominated by the water and electricity tariffs. It would not be worth discussing that subject in this Business section if one only noted the political rhetoric. Fact is,...
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Compensation for flight delays
Delay-hit air passengers experience inconvenience and frustration whether they are business travellers or holidaymakers. The majority of flight delays are due to bad weather, a smaller part to strikes, the rest of the cases can be avoided by...
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Industry’s role in a balanced economy
The manufacturing industry’s role within a balanced economy is being recommended at a European level to encourage a renewed contribution towards employment, and in view of the important economic linkages it enables through sub-contracting and...
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First milestone in notarial reform
Notaries are witnessing the first in a series of milestones, aimed at reforming and strengthening the profession, taking shape with the overhaul of the Notarial Profession and Notarial Archives Act. The amendments enacted through Act 24 of 2011 are...
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Learning from the mistakes of others
The German word schadenfreude is roughly translated as ‘pleasure derived from the misfortunes of others’ – an all-too-common human attitude that often leads to complacency. In the last few years, some political leaders in different EU states...
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Air Malta flying high, but...
The directors and management of Air Malta discreetly made a big do of the fact that the ailing company achieved an operating profit of €0.4 million in its latest reporting period. That is quite understandable. Long periods of winter gloom and...
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Regulation of online gambling
The regulation of online gambling requires streamlining, the European Commission has decided. In a recently published communication, it has set out an action plan on how to achieve some much-needed harmonisation in the regulation of this sector...
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Labour market participation of women in small EU states
One of the goals of the Europe 2020 Employment Strategy is to increase the overall employment rates across member states to compensate for the predicted decline in Europe’s workforce due to demographic changes. It is widely recognised that...
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Auto-analytics could change your life
I recently came across a blog entitled “The personal analytics of my life” by Stephen Wolfram and found it fascinating. Wolfram is a scientist-come-businessman who started an experiment in 1989 – what he calls a “self-awareness” experiment – by...
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Centre of excellence for maritime services
The Maltese economy’s Achilles heel is undoubtedly its dependence on a few economic activities that constitute a potentially serious concentration risk. Even as we steered away from low-tech manufacturing to embrace service industries, like finance...
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Trusts in German-Maltese property succession cases
Trusts are an often used vehicle in estate planning. This holds true namely in cross-border situations. By setting up a trust, the settlor can minimise potential conflicts among heirs and safeguard the integrity of the patrimony for the family. At...
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Consumers and blacklisted practices
Scratch cards are small cards containing concealed information in one or more areas, generally at the back, that can be revealed by scratching off an opaque covering to reveal the winning prize. These cards are popular not only because of their low...
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Money-market resistance
The United States Securities and Exchange Commission recently rejected proposed rules aimed at making money-market funds safer in a financial crisis – a rejection that has caused consternation among observers and other regulators. Given the risks...
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Improving international tax cooperation, action
A state’s ability to enforce its laws beyond its territory is, in its essence, a question of public international law. It is commonly accepted that jurisdiction to tax is a manifestation of sovereignty. There cannot be an extension further than...
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The labour market needs to be energised
The dynamics of the Maltese labour market are often baffling. We have one of the lowest unemployment rates in the eurozone. Yet our employment rate is one of the lowest in the EU. An A level economics student knows that unless our employment rate...
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Facets of HSBC- BoV equity premium puzzle
Any investor who invests in shares is always trying to answer this question: When do I know that the share price of a given company is right? A consumer’s trading will depend on the answer. A consumer will buy if he or she thinks that the company...
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Compensation for denied boarding
Two recent judgements delivered by the Court of Justice of the Europ-ean Union have shed new light as to when air passengers are entitled to financial compensation in cases when they are denied boarding on a pre-booked flight. EU law grants a...
