Addressing a Malta Aviation Outlook conference, Mr Borg reminded that the sector generates 2.5% of the country’s Gross Domestic Product, and creates more than 3,200 jobs. The minister also mentioned the importance of connectivity; Malta recently reached a number of agreements with Japan, South Korea, Ghana and the Ivory Coast and is seeking to reach agreements with a number of countries in South America, including Brazil.

“We could only dream about such success up to a few years ago and we did not achieve it overnight. The achievements we have made in this sector resulted from determination, consistency, proactivity and long-term planning. It is necessary to continue pushing for more and more growth and achievement while ensuring that we have skilled personnel working in this important sector,” Mr Borg said, according to the DOI.

“The government’s commitment will always remain to witness improvements in the economy and in every sector, towards a better quality of life for the people and more success for our businesses and our country,” the transport minister added.

The post Another air operator to receive Maltese certificate first appeared on The Malta Business Weekly.

The payment operator and prepaid card issuer is also licensed by the United Kingdom’s financial watchdog; the Financial Conduct Authority. This means that PFS will continue to operate as usual throughout the European Economic Area post-Brexit, the company says.

“The future looks even brighter now for PFS with this announcement. It ensures that no matter what happens with regards to Brexit, our business is prepared for all scenarios and there will be no impact to our customers and partners. We look forward to enjoying an excellent working relationship with the Central Bank of Ireland in the years to come,” says Noel Moran, CEO at PFS.

The company operates from the Innovation Hub in Ireland and its Technology Centre in Malta.

The post Irish fintech PFS bags local licence prepping for Brexit first appeared on The Malta Business Weekly.

“We have been very selective in our evaluation of companies, who need to show rigorous processes and strict regulations. Our goal is to be at the forefront of the research and production of medical cannabis, and we believe businesses like Avana will help us achieve this in Malta,” says Mario Galea, Chief Executive of Malta Enterprise.

Avana expects to use this facility as a medical cannabis processing hub, where it will import cannabis flower into Malta and process the flower into medical products for distribution to other European markets.

“The European market is one of the largest opportunities in the nascent global medical cannabis industry. Our familiarity in establishing and working within GMP compliant production facilities will lead to an efficient facility roll-out in Malta,” says Zubin Jasavala, Chief Executive Officer of Avana. “Our experience operating CannaWay Clinics and our formulation partnership with Covar Pharmaceuticals is guiding product development which we are excited to bring to Malta and the broader European market in 2020.”

In the upcoming months, Avana will work to commence construction of the facility in Malta. Avana will be participating in the Medical Cannabis World Forum held in Malta in November 2019, where Jasavala will be speaking to Avana’s experience in the Canadian medical markets in both production and distribution to-date, according to the press statement.

Avana is a family of cannabis brands and businesses positioned for growth domestically and in global medical markets. Avana derives market insights through its subsidiary CannaWay Clinic.

EDITORIAL NOTE: Since this story was published, Avana has rebranded as Mera, and quite recently has maintained an elevated focus on its expansion into Malta.

The post Avana and Malta Enterprise sign LoI for medical cannabis licence first appeared on The Malta Business Weekly.

Under the decision of the authority, World Services Ltd was directed “to proceed with the cancellation process of the authorisation, and to suspend all gaming operations with immediate effect.” At the same time, a notice on the companies website(s) must be displayed informing all players that the authorisation has been cancelled.

The MGA also “notifies that any websites operated by World Services Ltd or associated with World Services Ltd, and which make reference to the authority or the above-quoted licence is not approved to be operational by the authority. Due to the cancellation of the licence, World Services Ltd is therefore not authorised to continue conducting gaming by means of distance communications under an authority licence.”

The post MGA cancels World Services Ltd licence first appeared on The Malta Business Weekly.

NetEnt, through its subsidiary NetEnt Americas LLC, applied for a Casino Service Industry Enterprise license in the US state of New Jersey in 2015. In September 2015, NetEnt obtained a transactional waiver by the NJDGE, granting the right to supply online casino games in New Jersey while the full license application was being reviewed. NetEnt in February received its first online gaming license in the US issued by the NJDGE.

“We are very pleased to obtain our first permanent online gaming license in the US. We have been present in New Jersey since 2015 and have supported the regulator throughout the licensing process. The license marks yet another step in our US expansion as we hope to enter additional states if and when they regulate online casino,“ says Erik Nyman, Managing Director of NetEnt Americas LLC.

NetEnt Americas LLC is a US subsidiary of NetEnt AB (publ). NetEnt is listed on NASDAQ Stockholm (NET–B) and employs 1,000 people in Malta, Stockholm, Kiev, Krakow, Gothenburg, Gibraltar and New Jersey.

The post NetEnt receives permanent license in NJ first appeared on The Malta Business Weekly.

Under the decision of the authority, World-of-bets.eu Ltd was directed “to proceed with the cancellation process of the authorisation, and to suspend all gaming operations with immediate effect.” At the same time, a notice on the companies website(s) must be displayed informing all players that the authorisation has been cancelled.

The MGA also “notifies that any websites operated by World-of-bets.eu Ltd or associated with World-of-bets.eu Ltd, and which make reference to the authority or the above-quoted licence is not approved to be operational by the authority. Due to the cancellation of the licence, World-of-bets.eu Ltd is therefore not authorised to continue conducting gaming by means of distance communications under an authority licence.”

The post MGA cancels World-of-bets.eu licence first appeared on The Malta Business Weekly.

Under the decision of the authority, Bet Service Group Ltd was directed “to proceed with the cancellation process of the authorisation, and to suspend all gaming operations with immediate effect.” At the same time, a notice on the companies website(s) must be displayed informing all players that the authorisation has been cancelled.

The MGA also “notifies that any websites operated by Bet Service Group Ltd or associated with Bet Service Group Ltd, and which make reference to the authority or the above-quoted licence is not approved to be operational by the authority. Due to the cancellation of the licence, Bet Service Group Ltd is therefore not authorised to continue conducting gaming by means of distance communications under an authority licence.”

The MGA suspended the gaming licence of the group as of 23 January 2019, as Business Malta reported.

The post MGA cancels Bet Service Group licence first appeared on The Malta Business Weekly.

Under the decision of the authority, Morpheus Games was directed “to indefinitely suspend all gaming operations, cease to register new players or accept any deposits on the Licence and to submit all data and documentation” requested by the MGA.

Due to the suspension of the licence, Morpheus Games is not authorised to continue conducting gaming employing distance communications under a permit by MGA.

“The authority notifies that no further information shall be released at this stage in order not to compromise any investigations that may need to be performed by the authority and any other competent authority,” the MGA statement notes.

The post MGA suspends Morpheus Games licence first appeared on The Malta Business Weekly.

Under the decision of the authority, Betixx Ltd was directed “to indefinitely suspend all gaming operations, cease to register new players or accept any deposits on the Licence and to submit all data and documentation” requested by the MGA.

Due to the suspension of the licence, Betixx Ltd is not authorised to continue conducting gaming employing distance communications under a permit by MGA.

“The authority notifies that no further information shall be released at this stage in order not to compromise any investigations that may need to be performed by the authority and any other competent authority,” the MGA statement notes.

The post MGA suspends Betixx licence first appeared on The Malta Business Weekly.

Under the decision of the authority, BTM Entertainment Group Limited was directed “to indefinitely suspend all gaming operations, cease to register new players or accept any deposits on the Licence and to submit all data and documentation” requested by the MGA.

Due to the suspension of the licence, BTM Entertainment Group Limited is not authorised to continue conducting gaming using distance communications under a permit by MGA.

“The Authority notifies that no further information shall be released at this stage in order not to compromise any investigations that may need to be performed by the Authority and any other competent authority,” the MGA statement notes.

The post MGA suspends BTM Entertainment Group licence first appeared on The Malta Business Weekly.