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BUSINESSTODAY 27 January 2022

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€1.50 THURSDAY 27 JANUARY 2022 • ISSUE 139 WWW.BUSINESSTODAY.COM.MT PAGE 7 PAGE 2 PAGE 3 PAUL COCKS FINANCE minister Cyde Caruana has re- fused to state what position Malta will be adopting on a European Commission pro- posal introducing new, stricter, parameters defining shell companies. He told BuisinessToday that the Economic and Financial Affairs Council of the Council of the European Union, known as ECOFIN, has yet to discuss the draft proposal. ECOFIN, composed of the economics and finance ministers of the 27 European Union member states, met last week but Caruana said that the directive was not discussed during the meeting. "No, the directive was not on the agenda, and the proposal still has to be brought up for discussion," he told BusinessToday. Finance minister mum on Malta's position on draft shell companies proposal December 2021 unemployment down by 0.9% over 2020 Sterling to Euro exchange rate secures net recovery to 1.1955 STAR PERFORMER MSE FTSE 100 EUR EXCHANGE RATES Trading Date: 26 Jan 2022 Number of Trades: 34 Turnover: €237,930.13 MSE TRX Index: 7,867.811 (Change: 0.264%) Name PG PLC ORDINARY MT0001410100 - Currency € Last Traded 26 Jan, 2022 Price 2.320 Change 0.020 US Dollar 1.1280 British Pound: 0.83468 Japanese Yen: 128.98 Australian Dollar: 1.5740 Swiss Franc: 1.0393 7,478.04 106.58 7,525.58 / 7,371.46 Value Net variation High / Low +1.45 European Commission proposal, introducing tougher standards around use of shell entities, would impact up to 500 companies in Malta Finance Minister CLyde Caruana at last week's ECOFIN meeting

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