MBR_ISSUE 52_JUNE-compressed (5)

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Malta Business Review CONTENTS Issue 52 ONE-ON-ONE 16 INTERVIEW WITH DANNY ALEXANDER Vice President of the Asian Infrastructure Investment Bank FEATURES 22 CHINA: NOWHERE TO HIDE... Changes to the Chinese tax system have created work for wealth advisers in the region 26 GOZO EXPO 2019 Special double page spread paparazzi. 06 30 GOZO BUSINESS CHAMBER 20 years of service for the Gozitan Business Community. COVER STORY 06 VISION, LEADERSHIP AND COURAGE Exclusive interview with Deputy Prime Minister, Dr Chris Fearne. ANALYSIS: BITCOIN 08 THE NEXT BITCOIN RUN IS IMMINENT Nigel Green, deVere CEO predicts that Bitcoin could be on the verge of the next bull run. 10 12 FINANCIAL STORY 10 AVOIDING THE OSTRICH EFFECT IN FINANCES Jessica Higgins is a serial entrepreneur, venture capitalist and advisor, discusses finance management. MBR EXCLUSIVE 12 MEET THE HERO WHO KEEPS YOUR MEALS SAFE We meet with Prof. Charmaine Gauci, the Maltese food safety expert who explains how EU-wide collaboration keeps threats off our plates. 33 QUALITY MATTERS 16 33 Dr Nadine Delicata, Chief Operating Officer, Steward Health Care Malta on why quality matters most OUR GOLDEN PARTNERS 34 D-DAY ANNIVERSARY – FORGING THE SPECIAL RELATIONSHIP: How the D-Day landings brought America and Britain together. SIMON ESTATES 36 ANALYSIS: BREXIT Brexit Britain’s three Lost Years won’t end on Halloween 42 DOGS, ZUMBA & MEDITATION How to guarantee work-from-home well-being 4
MALTA BUSINESS REVIEW Malta Business Review A 2018 eurobarometer survey found that Malta has the highest rate of online hate speech across the EU. Hate speech and fake news are the most visible elements of the online information disorder. Misleading stories have always existed and have impacted public opinion, generated emotional reactions and played a role in shaping the public sphere, as have incitement to violence or hatred. However, there is growing awareness that the unprecedented reach of digital platforms has amplified their detrimental effect. PUBLISHER MBR Publications Limited OFFICES Highland Apartment – Level 1, Naxxar Road, Birkirkara, BKR 9042 +356 2149 7814 EDITOR Martin Vella TECHNICAL ADVISOR Marcelle D’Argy Smith SALES DIRECTOR Margaret Brincat DESIGN MBR Design ADVERTISING Call: 9940 6743 or 9926 0163/4/6; Email: margaret@mbrpublications.net or admin@mbrpublications.net CONTRIBUTORS George Carol; Claire Coe Smith; Nadine Delicata; Nigel Green;Jessica Higgins; James Holland; Laura Morales Rodriguez SPECIAL THANKS DOI; Edwards Lowell & Co; European Parliament Information Office in Malta; European Parliament, Directorate- General for Communication/Press Office; European Research Council; EU VoteWatch; Gozo Business Chamber; GOPAcom/ESP/EC; HSBC; LinkedIn; MORGEN EUROPA; POLITICO SPRL; Politico Playbook; PTV Group; Taylor & Francis Group; Virgin PRINT PRODUCTION Gutenberg Press Ltd QUOTE OF THE MONTH “You can’t build a reputation on what you are going to do.” – Henry Ford Disclaimer All rights reserved. No part of this work covered by copyright may be reproduced or copied and reproduction in whole or part is strictly prohibited without written permission of the publisher. All content material available on this publication is duly protected by Maltese and International Law. No person, organisation, other publisher or online web content manager should rely, or on any way act upon any part of the contents of this publication, whether that information is sourced from the website, magazine or related product without first obtaining the publisher’s consent. The opinions expressed in the Malta Business Review are those of the authors or contributors, and are not necessarily those of the editor or publisher. Talk to us: E-mail: martin@mbrpublications.net Twitter: @MBRPublications Facebook: www.facebook.com/MaltaBusinessReview At national and EU level regulatory, civil society and media initiatives exist or are being developed to tackle hate speech and fake news. Do these initiatives work and how can freedom of expression be safeguarded? Do we need a more effective regulatory initiatives and is it enough to only address two elements of the information disorder? Using a definition of “fake news” from Jonathan Zittrain, co-founder of Harvard University’s Berkman Klein Center on Internet & Society, who describes the term based on intent. Fake news, by this definition, is that which is “wilfully false,” meaning a story “that the person saying or repeating knows to be untrue or is indifferent to whether it is true or false.” Fake news has also figured in propaganda campaigns organized by governments or political parties, as well as a variety of other online communities organizing on platforms “Fake news is the canary in the digital coal mine,” says London School of Economics professor Charlie Beckett. “It is a symptom of a much wider systemic challenge around the value and credibility of information and the way that we—socially, politically, economically—are going to handle the threats and opportunities of new communication technologies.” Researchers cite growing evidence of highly sophisticated, persistent, long-term campaigns of disinformation— intentionally false or misleading information— organized by both government and non-state actors. Meanwhile, hate speech has become part of the fabric of the burgeoning internet advertising business. In response, many advertisers, leery of the risk to brand reputations, have halted hundreds of millions of euros in digital ad purchases. Ultimately, many companies profit from the rapid spread of information, no matter the content. “Hate speech” is generally defined as news and “information that offends, threatens, or insults groups, based on race, colour, religion, national origin, sexual orientation, disability, or other traits.” Hate speech can also refer to information or news stories that are intentionally framed to incite hate or anger against a certain group. Such content may or may not include elements of “fake news.” The deeper issue driving the spread of disinformation and hate speech online is an entrenched environment of social and cultural division. Technology platforms have an obligation to help bridge that divide, not ignore or exacerbate it. The design imperative is clear: Develop social, technical, economic, and political structures that allow people to understand, appreciate, and bridge different viewpoints. To prevent and counter the spread of illegal hate speech online, in May 2016, the European Commission agreed with Facebook, Microsoft, Twitter and YouTube a “Code of conduct on countering illegal hate speech online” to help users notifying illegal hate speech in this social platforms, improve the support to civil society as well as the coordination with national authorities. Malta must begin the debate that the U.K. and Australia have had on regulating harmful online content. When it comes to “redoubling” their efforts to deal with these issues, our government should take the lead, not Facebook. There should be just as little tolerance for criminal rabble rousing on social networks as on the street. Whatever course technology takes, it’s clear that the internet and technology companies that drive the 21 st century’s social media platforms and search engines need to demonstrate leadership that is substantive and long-term. At the outset of this report, we noted that at birth, the leading internet companies were simply technology platforms; over the years, they have grown into brokers of content and truth on a global scale. It is time they acknowledged and accepted that role and responsibility. Wishing you a good read. Martin Vella Editor-in-Chief Malta Business Review’s editorial opinions are decided by its Editor, and besides reflecting the Editor’s opinion, are written to represent a fair and impartial representation of facts, events and provide a correct analysis of local and international news. Agents for: www.maltabusinessreview.net 5
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