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COVID-19 Tag

European Commission FDI Screening Guidelines

On 26th March, the European Commission issued guidelines to ensure an EU-wide approach to foreign investment screening in a time when industrial and corporate assets may be under stress.   The aim is to preserve EU companies and critical assets, notably in areas such as health, medical research, biotechnology and...

MFSA’s new anti-money laundering team probes 25 fresh cases

Of 105 cases opened last year, 25 related to money laundering   A new specialised team of international experts has been set up by the financial regulator to combat money laundering, handling 25 new cases last year.   In the Malta Financial Services Authority's 2019 annual report, chief executive Joseph...

Government predicts a 7.5% deficit for 2020, with economy shrinking by 5.4%

Finance Minister unveils the government's public finance forecasts     The government is predicting a 7.5 percent deficit for this year, but things could change overnight, Finance Minister Edward Scicluna said on Wednesday.   Sharing the government’s budgeting for the year with social partners, Scicluna said his outlook of public...

Business Assistance During The Coronavirus Outbreak

In order to help reduce the effect of the current instability brought about by COVID-19, the Maltese Government has announced measures to assist companies who are the most at risk during these challenging times.     Promoting teleworking activities   Employers investing in a teleworking set-up may benefit from a...

Adapting to the ‘new normal’

The last couple of weeks were very challenging and turbulent for all industries and segments across the globe due to the ongoing COVID-19 pandemic.   Financial services are not only experiencing the challenges of COVID-19 but also highly-volatile markets.   Nevertheless, the current situation has left businesses to rethink...

Malta’s economic prospects post COVID-19 pandemic

In recent days, the International Monetary Fund (IMF) and two major credit rating agencies – Fitch Ratings and Moody’s – all published updated reports and analysis on Malta’s expected economic performance post COVID-19. Last month, the other major international credit rating agency S&P had also...

BOV and Malta Development Bank launch aid scheme for local businesses

BOV-MDB COVID Assist will help finance local firms   Bank of Valletta and the Malta Development Bank (MDB), have launched the ‘BOV-MDB COVID Assist’, a financing scheme aimed at assisting local businesses facing unprecedented disruptions brought about by the COVID-19 pandemic.   The BOV-MDB COVID Assist (BMCA) has been...

ECB asks banks not to pay dividends until at least October 2020

ECB asks banks not to pay dividends or buy back shares during COVID-19 pandemic Recommendation concerns dividends for 2019 and 2020, at least until 1 October 2020 ECB expects banks to keep funding households, small businesses and corporations   The European Central Bank (ECB) today updated...

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