PwC's Short Reads - June Edition
1. Everything you need to know about Ransomware
Ransomware is a type of malicious software that encrypts all your files and data, denying you access to your information unless a ransom is paid. The cyber attacker demands a ransom payment in exchange for a decryption key that may, or may not, restore access to your data.
2. The right to deduct Input Tax
As a general rule, a taxable person established in Malta should be eligible to claim a deduction for any Maltese VAT incurred on business-related purchases/costs (i.e. input tax).
3. PwC’s Third Global Actuarial Modernisation Survey
PwC, through our deep industry-wide expertise and our strong global network, supports actuarial modernisation journeys across the market. The importance of achieving successful actuarial modernisation has never been more important, and after surveys in 2018 and 2020, our third global actuarial modernisation survey is our largest survey yet with over 200 companies participating from across over 30 countries.
4. The return of M&A activity in the igaming industry
Analysts forecast that by 2028 the igaming market will reach over €165 billion in market value (Source: H2 Gambling Capital) across the globe. At the centre of it all is a degree of M&A activity, which continues to spur continued growth, ranging from seed investment in start-ups to hostile takeovers of well-established companies. Furthermore, growth is also being driven by ongoing organic growth in existing markets and the gradual regularisation of new regions worldwide.
5. People Sustainability Strategy
In the realm of corporate sustainability, the foundation of a sustainable future lies in the realisation that it is the people’s choices and behaviours that will determine the trajectory of our collective transition to a sustainable world. Within the ESG framework, the significance of the “S†(social) element becomes evident. The green transition will only succeed at the pace and scale demanded by the urgency of the climate challenge through the cultivation of a culture of sustainability across the entire value chain, brought about by key stakeholders, including employees, contingent workers, suppliers’ employees, and people in the communities.
6. Artificial Intelligence & its role in the fight against fraud
Increasingly rapid advancements in modern technologies have unsurprisingly had substantial implications on the fraud risks faced by businesses and individuals alike. The ever-evolving tactics employed by fraudsters mean that the traditional methods of fraud detection and mitigation are becoming increasingly outdated and insufficient, leading many organisations to turn to more contemporary and innovative methods of tackling these threats. Artificial Intelligence (AI) solutions in particular are emerging as a powerful tool in the ongoing fight against fraud.
7. Digital Transformation
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Digital transformation is reshaping the way business is conducted at a faster pace than ever before. It is highly impacting traditional business models - businesses that do not adopt technological transformations and automate their processes are unlikely to be able to adapt and compete effectively with competitors that have embraced such transformations.??
8. Private Equity opportunities in Malta
Globally, alternative strategies including private equity (PE) keep showing huge potential for growth. Assets under management (AuM) in private markets are expected to expand in line with the pace of economic recovery.?
9. EU Emissions Trading System and its extension to the maritime industry
The European Parliament has recently adopted several key pieces of legislation that are part of the Fit for 55 package, which represents the EU’s plan to reduce greenhouse gas (GHG) emissions within the EU bloc by at least 55% by 2030 when compared to 1990 levels. One key development is the inclusion of the maritime sector in the European Union Emissions Trading System (EU ETS).
10. ?Guest article: KSU - From Campus to Boardroom
Students are becoming more aware of their ability to influence policies in the business sector and bring about constructive change.?Student movements that focus on social justice, environmental sustainability, moral business conduct, and corporate responsibility have a rich history all around the world.
11. Getting performance management right!
The performance appraisal process is a crucial part of running a successful business and can be critical to keeping employees around. Essentially, it's the way an organisation evaluates how someone is performing on the job, usually happening once or twice a year. Through this process, an employee can get feedback on their performance, set goals for the future, and identify areas for improvement.