Malta has become the first European country in recent history to be grey listed by the FATF for insufficient AML enforcement. Marius Galdikas, CEO at ConnectPay, has shared his views on the effects this could have on the Maltese financial services sector and the economy as a whole.
Co-op businesses are more resilient to the economic devastation caused by Covid according to a new report released on the 28th of June, prompting a call for more government investment led by CEO of The Co-op, Steve Murrells.
According to a recent poll by SentryBay, the UK-based cybersecurity software company, the infrastructure of over 21% of surveyed companies has failed key PCI compliance assessments, designed to assist them to maintain high security standards when processing customer card payments. In addition, a further 29.3% said that they had no confidence in their own company’s compliance when it came to PCI DSS.
The EU's regions and cities are looking forward to the Social Economy Action Plan, which the European Commission is expected to publish before the end of the year. The opinion adopted by the European Committee of the Regions (CoR) on Thursday underlines that it is essential to harness the full potential of social economy enterprises and organisations to ensure economic recovery, to promote collective entrepreneurship and to create high-quality jobs after the COVID-19 crisis.
With international travel not being feasible for the moment, UK hotels can expect a boom in staycation guests. How can hospitality make the most of this opportunity?
Turkish Airlines successfully ended the fiscal year 2020 with 6.7 billion USD revenue, which accounts for 50% of the preceding year’s level, with a net loss of only 836 million USD. During these uncertain times, the airline was also able to maintain its robust route network. According to Eurocontrol, in April 2021 Turkish Airlines operated an average of 685 flights per day – almost double the number of the closest competitor in Europe, Lufthansa. In 2020, Turkish Airlines flew 28 million passengers, with an impressive load factor of 71%. Currently, the airline serves 179 international destinations with 16 intercountry and 58 intercontinental flights. The new Istanbul Airport also stayed on top: even with a 68% loss of traffic, it was still Europe’s most successful airport as of March 2021, with 616 departing and arriving flights.
The European Commission has unveiled plans to launch pan-European Digital ID wallets. Marius Galdikas, CEO at ConnectPay, outlined key challenges that need to be addressed before the launch, as well as why its success largely depends on value perceived by EU citizens.
A recent report from Mintos, Europe’s leading marketplace for investing in loans observes a noticeable growth of young investors. In the first half of 2021, the investment platform saw a 9% growth among its young users–from 377,982 the number of young investors increased to over 417,345 individuals.
Freedom of movement may have ended now that Brexit has been officially implemented, but many Britons are still yearning to move abroad and experience life outside the UK. If you’re still working from home and wondering if you can relocate far beyond UK shores without too many restrictions, Huriya Private’s list of alternative destinations are a starting point to begin looking further afield from the typical choices like Spain, France, Australia and New Zealand.
Beleaguered British retailers are braced for yet more changes to how they sell goods to the EU. From 1 July, a new EU Import One-Stop Shop (IOSS) scheme means British-based e-commerce companies only need to register and pay VAT in one EU country to sell goods not exceeding £135/€150 across the entire EU. The new IOSS regulations certainly make retailers’ lives easier, but they aren’t entirely good news, says the international delivery expert ParcelHero.
Small but Perfectly Formed is a cross Europe collaborative project that will accelerate fashion SME’s to transition to work within circular and sustainable business models. The project aims to select 28 SME led projects from around Europe working within circular and sustainable fashion, to support an 18 month project. The project will include a business development programme which will host an 8-month business accelerator and a 5-month R&D phase, culminating in a showcasing phase that will take place between July 2022 – April 2023. There is a funding allocation of €10,275 per partnership.
The third national UK lockdown produced a wave of start-ups, with arts and crafts the most common type of venture, according to Direct Line business insurance new policy data.
