The first international eMobilty summit could not have come at a better time, according to the prime minister. Malta has experienced unprecedented economic growth in the past six years; the landscape is transforming, so are businesses, which at the end of the day are changing the country, Mr Muscat said.

“We are facing challenges stemming from the progress that we see as opportunities … We are here to discuss these opportunities … We do not shy away from challenges,” Mr Muscat said addressing the auditorium of market players and industry professionals.

He mentioned that two years ago the government started working on a total revamp of the local road infrastructure as part of a €700m project. He added that in the past six years, nationwide emissions have been reduced by 50% due to the changes the government started.

Mr Muscat also voiced certainty that the tunnel between Gozo and Malta will be built, and the government is making efforts to provide free public transport for people passing through the tunnel. At the same time, the Maltese government is planning to launch a pilot on Gozo, trying to turn the sister island into a zero-emission zone.

After turning Gozo into a zero-emission zone, the government would like to replicate this pilot in Malta, which Mr Muscat hopes will serve as a pilot for the whole European Union and the world for introducing electric vehicles in a country, going completely free of CO2 emissions. The prime minister, therefore, appeared to be an advocate of a “nation-wide changeover”.

He acknowledged that the country is heavily-reliant on cars; hence actions are needed to be taken with urgency, to put a stop to pollution. The government has commissioned PwC Malta to carry out a study to see how the changeover can be carried out in the archipelago. Mr Muscat said this study should be published in the upcoming weeks.

Questions that need to be answered comprise of the affordability of electric vehicles, whether a government can restrict the import and purchase of non-electric vehicles, whether the government can incentivise the import and purchase of electric cars and whether the national power grid is ready for an influx of electric vehicles. “People should be able to charge electric cars at home with sensible fees,” Mr Muscat said.

“There are barriers, but innovation should be the key to break down such barriers … We want to be trendsetters in Europe and the world in how we live and work; transport is one key factor,” the prime minister said referring to the government’s commitment to electric mobility.

He once again reiterated that this has to be done accompanied by — if not mixed with — the country’s efforts in being at the forefront of the blockchain, artificial intelligence and other disruptive developments. “We want to see how we can synergise these sectors with eMobility,” Mr Muscat concluded.

The post Malta vows to become flag-bearer in eMobility first appeared on The Malta Business Weekly.

“Customers may now once again make use of BOV services through the Bank’s branch network across Malta and Gozo, ATMs, Internet Banking, Mobile Banking and by making use of their BOV cards when effecting purchases. Payments to third parties is currently the only service not yet activated. Developments in this regard will be communicated through future press releases,” the statement issued by BOV says.

BOV says the customer deposits and customer accounts of the clients stayed unaffected by the cyber attack, adding that the bank’s contingency plan and preventive measures safeguarded the bank, customers and stakeholders.

Upon apologising for the inconvenience, the bank asks for the patience and support of the general public and media. At the same time BOV thanks its internal and external staff for their hard work in this matter.

“The bank reminds its customers to be wary of any requests for their personal or account details. Bank of Valletta will never ask for customer details through any channel such as social media, emails or telephone. Should there be any such requests, customers are to contact the Bank’s Customer Service Centre on +356 2131 2020,” the bank statement adds.

Service shutdown due to cyberattack

BOV announced early Wednesday morning that the institution’s system fell victim to a hacking attempt, and operations needed to be shut down. The breach was discovered during reconciliations the bank regularly performs.

After running investigations in the matter, BOV found that eleven payments had been initiated to foreign payment accounts in a total value of €13m, the Malta Independent reported. BOV immediately requested the international banks involved to halt transactions.

Later on Wednesday, Maltese Prime Minister Joseph Muscat confirmed that the attack falsified transfers in euros, American dollars and British pound sterling — with a total worth of €13m — to foreign banks in the UK, the US, Czech Republic and Hong Kong, according to another report by the Malta Independent.

Answering questions by Opposition Leader Adrian Delia, PM Muscat said that the money of the bank’s clients “was safe”, and an internal enquiry will be called for. Mr Delia said he considers the hacking attempt as an attack against the whole country.

The Malta Independent notes that as BOV accounts for approximately half of the country’s transactions, the short hiatus in bank services can have an impact on Malta’s economy both domestically and abroad.

The cyberattack is followed by police investigations, as well as a Magisterial enquiry.

The post BOV resumes some operations post-cyberattack first appeared on The Malta Business Weekly.