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'Go back home, but pay my pension first'
I have a particular book that generates a mixture of disgust, fear and general misery to others whenever I am carrying it. It’s named “Fundamentals of Private Pensions”, it has a dark cover and worst of all no pictures – except for a couple of graphs. Despite being a darn good book, pensions aren’t exactly a “sexy” topic yet they have been back on the...
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Ageism is a pervasive and dangerous mindset
In the 20th century, life expectancy in western societies increased by about 30 years – greater than was attained in the previous 5,000 years of human history. What used to be the experience of a few has now become the destiny of many. Yet ageism...
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Bad cash flow in corporations
Managing cashflow well is key to the success of any economic operator, big or small. The relationship between creditors and debtors is followed with eagle eyes on a daily basis, and in the management accounts. An entity will be chased by its...
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Misleading commercial practices
A commercial practice that misleads consumers is unfair and hence illegal in terms of EU consumer law. In such cases, there is no need to consider whether the trader acted diligently or not, the Court of Justice of the European Union recently...
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Engage with your auditors – it’s worth it
Companies on both sides of the Atlantic are seeing their relationships with external audit firms more strictly regulated. In this scenario, could audit committees reduce the perceived need for regulatory action by taking a more formal approach to...
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EMIR – Do you trade in OTC derivatives?
If you regularly enter into options, futures, forwards, interest swaps, currency swaps or any other form of derivatives, this article will definitely be of interest to you. Derivative transactions have been largely blamed as being one of the main...
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Walk the talk
When one’s arguments start to hit home, Government apologists come out with their usual bullying tactics. Frankly I don’t mind and they will not stop me from doing my duty as the Opposition’s Shadow Minister for Finance. For some time I considered...
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We all deserve a cool office
I don’t know how many times I’ve walked into an office and gasped at how unimaginative or inappropriate offices in general are. I am here thinking of obsolete furnishings, cramped spaces, poorly designed layouts and a host of other “uncool”...
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How the Celtic Tiger was killed
Ireland may be the first troubled eurozone country to go back to borrow money in the financial markets as it exits the bailout phase which started when it had to be rescued by the European Commission, the ECB and the IMF in 2010. To get here it...
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Multiple Opposition boomerangs
Tonio Fenech, long-serving finance man and now shadow minister, is a man with considerable cheek. He displayed that year after year in his official position, first as parliamentary secretary then as minister. Year after year his estimates of...
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Enhanced customs enforcement
The European Parliament recently approved a new regulation intended to give national customs authorities extended powers to detain counterfeit or pirated goods at the borders of the European Union. This new regulation, that enters into force at...
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Deplorable and unprecedented
Last week, more than 2,000 passengers booked on Air Malta flights ended up stranded at the airport, their flights cancelled. The cause of this was that, inexplicably, 17 pilots simultaneously reported that they were unfit to fly. This mysterious...
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Facilitating visa policy for the EU tourism industry
At the behest of the European Parliament, a number of developments are emerging on visa facilitation with regards to the EU tourism industry. A debate on how the implementation and development of a common visa policy can be used to increase...
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Celebrating Chinese investment success
Small open economies depend on direct productive foreign investment to prosper. Malta’s economy is no exception. Insufficient investment in the last several years has meant that our infrastructure has suffered, thereby threatening our...
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The meaning of corruption
Possibly the most used word in discussing the government scenario is corruption. The political debate in Malta is such that everyone seems to suspect that some sort of corruption is going on. This refers to a crude definition of corruption where...
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If you’re losing the game, change the rules
It is hard to predict every changing situation and respond to the unthinkable, but can we be prepared? Do we have what it takes to cope, re-strategise and think outside the box when the unexpected happens? Today, change is the only constant with...
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Investing in high-yield bonds
Few investments are as misunderstood as are high-yield bonds (HYBs). In today’s low-interest rate environment, HYBs afford investors significantly higher yields, making them a compelling and sought-after investment. Moreover they have proven to...
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KPMG: planning for an effective family-business succession
Family businesses are a major contributor to the Maltese economy. Ninety five out of 100 private business enterprises in Malta are classified as microenterprises, many of which are considered to be family-owned businesses. Running a family...
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The state of the nation’s economy
Business breakfast meetings are not renowned to serve healthy diet food, but they can at times offer good economic diets that should make the nation more prosperous. The pre-Budget breakfast meeting organised by the Minister of Finance was a...
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Are we ready to change direction?
The European Regional Development Fund aims to provide support for investment in SMEs to create sustainable jobs, infrastructure linked to innovation, energy and transport and financial instruments to support local development as well as technical...
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Metatags are a form of advertising
The law on comparative advertising has been harmonised throughout the EU by the Directive on Misleading and Comparative Advertising which aims to protect consumers, competitors and the interest of the public in general against misleading...
