Issue link: https://maltatoday.uberflip.com/i/1280162
20.08.2020 4 NEWS THE Malta Financial Services Authority has issued a public alert on a number of entities. e MFSA said an entity operating un- der the name of Bitmarket - which has an internet presence at www.bitmarket.com, although the website is currently offline - is not a Maltese-registered company nor is it licensed or otherwise authorised by the MFSA to provide any financial services which are required to be licensed or other- wise authorised under Maltese law. e same applies for an entity operating under the name of Winsie or Winsie Glob- al, which has an internet presence at www. winsie.com. On such pages it is stated that "Winsie Global is a world-leading crypto- currency exchange, providing advanced financial services to traders globally by us- ing blockchain technology." Furthermore, information available to the MFSA, suggests that Bitmarket and Winsie are likely to be schemes of dubious nature with a high risk of loss of money. e public should therefore refrain from undertaking any business or transactions with the above-mentioned entities. e MFSA also issued an alert in the case of Tradezone247 which has an internet presence at https://tradezone247.com/in- dex.php. e MFSA wishes to alert the public, in Malta and abroad, that https://trade- zone247.com/index.php is NOT a Maltese registered Company NOR licensed or oth- erwise authorised by the MFSA to provide any investment services or other financial services which are required to be licensed or otherwise authorised under Maltese law. e MFSA would like to remind consum- ers of financial services not to enter into any financial services transaction unless they have ascertained that the entity with whom the transaction is being made is au- thorised to provide such services by the MFSA or another reputable financial ser- vices regulator. Investors should also be extra cautious when being approached with offers of fi- nancial services via unconventional chan- nels such as telephone calls or social me- dia. A list of entities licensed by the MFSA can be viewed on the official website of the MFSA at http://www.mfsa.com.mt/pages/ licenceholders.aspx. If one believes they are a victim of a scam or think they might be dealing with an un- authorised entity or any other type of fi- nancial scam, they should first of all stop all transactions with the company and con- tact the MFSA at https://www.mfsa.mt/ about-us/contact/ as soon as a suspicion arises. MFSA Issues warning on unregistered operators WRITEMEANYTHING (WMA), one of Malta's best-regarded com- munication specialists, has ap- pointed Paula Fleri-Soler as its new Head of Public Relations. Fleri-Soler brings her extensive experience in journalism, television production and event management to the role. is is the latest move in a period of transformation for the innovative and energetic boutique agency. WMA is known for providing its content creation and PR expertise across sectors, including the arts, hospitality, real estate and luxury lifestyle, both locally and overseas. Among its range of services, WMA handles everything from the creation of news features, magazine articles and press releases all the way up to communication and PR strategy and implementation for in- ternational businesses. e agency adopts a client-centred approach to ensure its customers and their brands always feel guid- ed and supported as they navigate the time-consuming and potentially confusing world of content creation and public relations. "It's this client-centric approach which drew me to WriteMeAny- thing in the first place, as it very much matches my own approach," Fleri-Soler said. "I am excited to form part of this wonderful team, especially as the company continues to grow and expand its services. I look forward to working closely with its diverse portfolio of clients in articulating their message to their customers and audiences." WriteMeAnything appoints new head of public relations Paula Fleri-Soler CONFIDENCE within the retail sector fell to a new historical low of -53.6 in June, from -30.1 in the previous month, driven by retailers' low expectations for business activ- ity for the following three months. An economic update issued by the Central Bank points to signs of re- covery in retail trade and industrial production between May and June although the volume of both indi- cators declined when compared to corresponding figures in 2019. e volume of retail trade con- tracted for the fourth consecutive time in June, however, at a slower pace than that recorded in May. In June retail trade declined by 8.4% from the previous year, following a fall of 12.2% in May. In June number of persons on the unemployment register stood at 4,270 in June, down from 4,409 in May but still higher than 1,616 reg- istered a year earlier. e annual growth in the indus- trial production index, which meas- ures economic activity in the quar- rying, manufacturing and energy sectors remained negative in June for the third consecutive month. e index fell by 3.2% in annual terms, following a sharper contrac- tion of 7.7% in May. Deficit increases by €133.5 million In June, the Consolidated Fund recorded a deficit of €222.2 million, a rise of €133.5 million when com- pared to the deficit registered in June 2019. is was a result of a significant rise in govern-ment expenditure, coupled with a drop in revenue. Consequently, the deficit reached €202.9 million, compared with just €71.0 million a year earlier. ese developments reflect the slowdown in economic activity due to COVID-19, and on-going gov- ernment measures to mitigate the economic effects of the pandemic. Government revenue declined by €17.9 million or 5.9% in annual terms. is decline came as a result lower tax revenue from indirect tax- es which declined by €36.4 million mainly due to lower receipts from VAT and licences, taxes and fines. is was partially offset by a €14.4 million increase of revenue from in- come tax following three months of very strong declines. is reflected the impact of tax deferrals for both self-employed and employers dur- ing the partial lock down. Government expenditure in- creased by €115.6 million, or 29.3% when compared to June 2019, driv- en by a rise in both recurrent and capital spending. Retail trade down by 8% from 2019 levels