Author: SME Chamber

Green MT, the National Authorised Waste Packaging Compliance Scheme will as from the first week of February launch segregated collections of packaging and recyclable material from Birkirkara after an agreement was reached with the Local Council.

On Wednesdays, a collection of paper, carton, newspapers, leaflets and magazines will take place. These can be left at the kerbside , tied decently , and collection will be made door to door. On Friday, a collection will be made for plastic and metal placed in the usual grey bag, also door to door. Green mt recovers nearly 16 tons of  recyclable materials from Birkirkara in two days of grey bag collection. However the costs of segregating the grey bag are not economically feasable and as such related action had to be taken to make sure that Local Councils in Malta are incentivised in order to effect such segregated collections.

Currently Green MT has deployed four Eco Councillors on a door to door visit in Birkirkara, distributing a leaflet in respect to this segregation and explaining to individuals how the system will work. Birkirkara is the first Local Council under agreement with Green MT to effect such a collection. Other Local Councils will follow accordingly in the coming months. It is envisaged that by end of June 2012 all Local Councils in agreement with Green MT will be effecting segregated recyclable collection.

Green MT, the National Authorised Waste Packaging, with currently over 1400 producer members continues to grow rapidly. During calendar year 2011, its producer members placed nearly 21,000 tons of packaging waste in the market and the Scheme has recovered nearly 14,000 tons, nearly 270 tons weekly which have now been directed to recycling instead of landfill. It is by far an impressive result brought about by the continued support of the public in general and with the help of a fairly large number of commercial establishments led by GRTU, who work incessantly to shoulder their moral obligation towards the environment.

In the very near future, Green MT will be launching a public campaign via a very popular TV afternoon show which will include a number of gifts and awards to those who take up recycling  seriously.

Green MT  has also embarked on a massive education campaign at schools.  Eco Councillors are visiting Schools and discussing segregation of waste and recyclables with School Heads and setting up days when to visit individual classes and make presentations to the students. Green MT is also discussing at these Schools further hardware needs of each individual school so that students are further enticed to segregate their waste at source. Green mt will also be organising trips for students to visit the Sant Antnin Materials Recovery Facility operated by Wasteserv Malta Limited.

Il-President Paul Abela iwissi :

• 1.Lil-Gvern: "It-Tnaqqis tan-nefqa Pubblika ara li tiehdu minn fuq is-setturi non-produttivi u tmissx in-nefqa Kapitali u l-iskemi u progetti ghan-Negozji Zghar u Self-Employed"
• 2. Lill-Politici: "Solvu l-problema tal-instabbilita' Politika li inholqot. In-Negozji iridu it-trankwillita'. Ghandha bizzejjed problemi ekonomici biex noqghodu ninhlew fuq il-Politika"

Fil-Kwartieri Generali tal-GRTU fi Triq ir-Repubblika  l-Belt Valletta, il-GRTU – l-Kamra tan-Negozji Zghar u Medji, zammet it-Tlieta u Sittin Laqgha Generali Annwali. Id-Diskorsi ewlenin f'din il-laqgha kienu d-Diskors tal-President Paul Abela u dak tad-Direttur Generali Vince Farrugia (kopja tad-Diskors tal-President Paul Abela tinsab aktar l-isfel filwaqt li taqsira tar-Rapport Amministrattiv tad-Direttur Generali Vince Farrugia tinsab fuq il-website www.grtu.eu).

Id-Direttur Generali ta dettalji tal-attivitajiet u l-issues ewlenin li hadmet fuqhom il-GRTU fuq livell Lokali u livelli Settorali u Nazzjonali f'Malta u x-xoghol li twettaq fuq issues relatati mal-Unjoni Ewropeja u l-implimentazzjoni f'Malta tad-direttivi u regolamenti tal-Unjoni Ewropeja. Id-Direttur Generali fir-Rapport tieghu habbar li matul l-2011 fil-GRTU dahhlu elf u hamest (1,500) membru gdid il-bicca il-kbira minnhom mis-settur kummercjali u ohrajn minn gruppi godda ta' self-employed li hassew il-htiega li jkunu moghqdija ahjar bis-servizzi u l-appogg li taghti lill-imsiehba taghha l-GRTU.

 Il-President tal-GRTU Paul Abela ghalaq il-Laqgha Generali Annwali b'diskors imhejji apposta ghall-okazzjoni:

L-2011 kienet sena partikolari u jidher li l-2012 se tkun aktar. Bhala GRTU fl-2011 komplejna issahhahna kemm bhala membri godda kif ukoll bhala organizzazzjoni u bhala firxa ta' xoghol u fuq kollox bhala rizultati. Bhala membri godda din kienet sena tajba hafna, b'zieda ta' elf u hames mitt (1,500) membru gdid sa l-ahhar tas-sena. Il-Membri godda gew l-aktar mill-qasam l-aktar importanti ghalina, dak tas-settur kummercjali. Dahhalna ukoll fil-GRTU gruppi godda ta' self-employed minn oqsma ta' servizzi li qabel ma kinux imsiehba fil-GRTU. Bhala organizzazzjoni komplejna wkoll issahhahna. Issa ghandha organizzazzjoni fejn b'nies kwalifikati u mharga qed jispeccjalizzaw l-energija taghhom fuq oqsma importanti ghall-membri taghna, bhal ma huwa xoghol marbut mal-Unjoni Ewropeja, direttivi, regolamenti godda, tahrig, standards u rapprezentazzjonijiet dwar kif ikunu imfassla l-Ligijiet u l-Avvizi Legali li jolqtu l-imsiehba taghna, kif ukoll EU Support Desk. Illum ghandha ukoll Ufficju Legali li mhux biss jaghrbel dak kollu li jkun qed isir u li jolqot lis-self-employed u lis-sidien tan-negozji z-zghar, imma wkoll jaghti pariri lil membri fuq kwistjonijiet dwar taxxa, licenzji, kera u azzjonijiet ta' enforcement mid-diversi entitajiet tal-Gvern.

Qasam iehor speccjalizzat hu dak dwar il-Lokalitajiet fejn insegwu dak kollu li jsir fuq livell ta' Kunsill Lokali u fuq problemi ta' immaniggjar ta' traffiku u dwar parking u kwistjonijiet ohra li jolqtu lin-negozji fil-lokalitajiet. Dan il-unit jikkumplimenta x-xoghol tal-Kumitati tas-Sezzjonijiet u jaghmel follow-up fuq numru kbir ta' kwistjonijiet mqajjma minn gruppi differenti organizzati fil-GRTU. Xoghol kbir iehor li dhalna ghalih bil-kbir hu dak marbut ma' issues dwar l-energija alternattiva, dwar problemi ta' riciklagg ta' skart u l-problemi kbar li qed jaffaccjaw hafna negozji fis-servizzi, fil-portijiet u fil-qasam tad-distribuzzjoni. Isahhahna ukoll din is-sena fir-rapprezentazzjoni taghna fil-qasam tat-turizmu u fil-qasam tal-farmacewtika u qed inzidu ukoll ir-rapprezentazzjoni taghna dwar kwistjonijiet dwar Ghawdex. Komplejna ukoll fuq ix-xoghol taghna bhala rapprezentanti tan-negozji fil-Belt Valletta u f'zoni important bhal Marsaxlokk, tas-Sliema, Naxxar, Mellieha San Pawl il-Bahar, Paceville u Rahal Gdid fost ohrajn. Dwar il-kwistjoni tal-kera ghamilna arrangamenti li minnhom ser igawdu hafna negozji li ntlaqqtu hazin bil-Ligi tal-kera fil-Belt u issa qed nirsistu biex din is-soluzzjoni tkun estiza ghal-postijiet ohra.

Fuq kollox lehinha llum jasal ukoll bis-sahha fuq livell Ewropew fejn bis-sahha tar-rapprezentazzjoni tad-Direttur Generali fuq il-Kumitat Socjali u Ekonomiku Ewropoew u tieghi bhala r-rapprezentant fuq il-Kumitat dwar Fondi Socjali Ewropew, il-GRTU illum hi stabbilita' sew bhala organizzazzjoni ewlenija li tirraprezenta l-SME's Maltin. Sahhahna ukoll ir-rapprezentazzjoni taghna fl-organizzazzjonijiet li ahna attivi fihom fuq livell Ewropew, l-UEAPME u l-Euro Commerce fejn jien bhala President u Vince Farrugia bhala Direttur Generali, ahna membri tal-Bord Amministrattiv ta' dawn iz-zewg organizzazzjonijiet importanti. Illum in-negozjant zghir Malti ghandu jkun kburi li bil-GRTU mhux biss ghandu min iharrsu imma wkoll organizzazzjoni stmata, kemm f'Malta kif ukoll fi Brussels. Ghaqda li tasal.

F'Malta ahna forza ewlenija fir-rapprezentazzjonijiet taghna lill-Gvern mhux biss b'laqghat kontinwi dwar kwistjonijiet li jolqtu is-sezzjonijiet, laqghat ma' Ministri, ma' Permanent Secretaries, Chairmen u CEO's tal-Awtoritajiet Regulatorji, imma wkoll b'laqghat spissi dwar issues ta' importanza ekonomika nazzjonali. Il-Prim Ministru u diversi Ministri, aktar minn darba, u b'enfasi, jaccennaw ghall-importanza tal-proposti u s-suggerimenti konkreti li taghti l-GRTU. Illum ghandha influwenza kbira u ngibu r-rizultati u bhala GRTU ahna ngawdu l-akbar rispett mill-Awtoritajiet. Dan hu rizultat ta' hafna hidma, ta' preparazzjoni tajba u kontinwa u direzzjoni generali kapaci.

Kif ighidt, ghall-ekonomija u ghas-setturi rapprezentati minnha, is-sena 2011 ma kinitx sena facli. Wara l-inkwiet ekonomiku fl-2009 u l-2010, is-sena l-ohra rat l-ghawg kbir li ffaccja l-Ewro wara li pajjiz wiehed wara l-iehor beda jifga taht pizijiet ta' dejn u zbilanci finanzjarji. Ahna ghalkemm pajjiz zghir irrezistejna u ghalaqna is-sena fuq livell relattivament sodisfacenti, ghalkemm ghall-hafna negozji rapprezentati minna, kienet sena tassew iebsa. L-2012 ma tantx qed turi prospetti sbieh, pero ahna se nibqghu nahdmu u ninsistu, kif ghamilna bil-proposti taghna ghall-Budget 2012, biex il-Gvern jahdem aktar, kemm b'nefqa kapitali akbar, kif ukoll bl-introduzzjoni ta' skemi godda favur in-negozji z-zghar, biex l-ekonomija lokali tibqa tirranka. Jekk nahdmu bil-ghaqal, l-2012 m'ghandix tkissirna.

Pero pajjizna irridu nibzghu ghalih ilkoll. Pajjizna mhux tal-Gvern u haddiehor gallerija. Pajjizna taghna ilkoll – Gvern, Oppozizzjoni, Unions, Korpi Kostitwiti, Socjeta' Civili u Poplu. Pajjizna ma jaffordjax li nwaqquh lura mill-attenzjoni shiha taghna lejn x'jaqbel l-aktar li jsir biex insahhu l-ekonomija ta' pajjizna. Ix-Xoghol u l-investiment jigi l-ewwel. L-argumenti li nholqu dan l-ahhar dwar maggoranza jew mhux maggoranza fil-Parlament, huma argumenti li qed jaghmlu hsara lil pajjizna. Hemm zmien ghal kollox -zmien ghax-xoghol u zmien ghall-politika. Issa zmien ix-xoghol. Dan li jesigi pajjizna, minghandna lkoll, bhala prijorita'. F'isem il-GRTU qed nghid b'lehen qawwi lill-Prim Ministru, Opozizzjoni u lid-Deputat Franco Debono, li pajjizna jrid li din il-kwistjoni tinqata'. Ahna tallajnikom fil-Parlament biex tindukrawlna xoghlna, n-negozju taghna u tharrsulna l-pajjizna.

L-Issue l-kbira verament ma kellha tkun qatt dik li qajjem l-Onorevoli Franco Debono, imma l-ordni tal-Kunsill tal-Ministri Ewropej li Malta trid tnaqqas aktar l-Budget Deficit. Il-Kunsill tal- Unjoni Ewropeja diga' wera' l-biza' li s-sussidju li l-Gvern irid jaghti lil AirMalta u z-zidiet fil-pagi li jridu l-haddiema tal-Gvern se jaghrqu s-sitwazzjoni finanzjarja tal-Gvern. Ghalhekk jien f'isem l-akbar firxa ta' sidien ta' negozji Maltin u self-employed qieghed nindirizza lil politici kollha, car u tond, solvu din il-problema malajr, issa mhux iz-zmien li nilaghbu bil-politika. Imma fuq kollox infakkar lill-Gvern, li n-nies tan-negozji u self-employed matul l-ahhar sena u sentejn ta' qabel, baghtew imma b'kuragg baqghu ghaddejin. Issa ejja ma nsibux il-flus ghal-kulhadd u lin-nies taghna ntuhom xi daqqa ohra l-isfel.

In-nies taghna zammew l-impjiegi u zammew l-intraprizi taghhom anke bit-telf. Issa li l-Gvern irid jerga' jissikka c-cinturin tan-nefqa pubblika, ma ridux li jsir dejjem dak li sar qabel, li lil min hu hobzu mahbuz nibzghu ghalih, u lin-nies taghna, li jridu kollha jfendu ghal-rashom, inkomplu nafguhom.

Ahna ferhanin li l-Gvern, waqqaf fuq parir taghna, Ministru b' responsabbilta' diretta ghan-Negozji z-zghar u self employed u lill-Onorevoli Jason Azzopardi nifirhulu minn qalbna. Twaqqfet ukoll Ligi apposta is-Small Business Act li tifavorixxi lin-negozzji z-zghar.

Imma l-fatti jitkellmu aktar min kull ligi u min kull decizjoni.

Fl-2012 irridu li tkun sena fejn is-sidien tan- negozji z-zghar u self employed ikunu verament fuq nett fuq l-agenda tal-Gvern.

In-nies taghna jridu t-trankwillita'. In-nies taghna jridu jahdmu. Sibu soluzzjoni ghall-problemi politici u halluna nahdmu. Kunu serji. Kunu intelligent. In-nies taghna ma jridux inkwiet.

Huwa ikkonkluda ir-Rapport tieghu billi irringrazzja lil dawk prezenti tas-supprot taghhom u talli oghgobhom jinghaqdu maghna ghal din il-Laqgha importanti. Il-President Paul Abela stieden ukoll lil dawk prezenti ghall-bibita' fl-ahhar tal-Laqgha.

Link to presentation in the right column of this website.

HRTP-Japan Industry Insight – Funded by: The European Commission
Location: Japan
Pricing: For SMEs: no tuition fee
Training dates: from 14 May to 8/15 June 2012
Application deadline: Thursday, 16 February 2012
More information: http://obnm69.com/kykuwuixm3tis3foiq/index3.html

This 4/5-week programme in Japan provides an outstanding opportunity for EU companies to acquire within a short time an integrated in-depth view of Japanese industrial structure and business practices.

"HRTP – Japan Industry Insight" programme is targeted at EU managers who have a major role in defining and implementing their company's policies in relation to Japan, or who are to be transferred to Japan, or who wish to be kept informed about management practices in Japan. The programme is open to all company sizes.

Costs:

For SMEs: the EU-Japan Centre covers all costs directly related to the programme (i.e. language courses, conferences, seminars and group study trips – including travel outside Tokyo) and to facilitate small and medium-sized enterprises (SMEs) participation in the course, participants from SMEs can apply for a scholarship to get EUR 3000.

The participant's company covers travelling expenses to/from Japan as well as subsistence expenses in Tokyo, and accommodation.

Programme content:

• Orientation session
• Japanese language and culture courses
• Lectures
• Joint seminar with Japanese business people
• Field trips (Sogo Shosha and Regional trip)

• Individual company visits

On January 1, Denmark assumed the Presidency of the Council of the European Union for the seventh time since the country's accession to the EU in 1973.  The Danish Presidency is the second of the "trio presidency" that also includes Poland and Cyprus. The three successive presidencies work together over an 18 period to accomplish a common agenda with the current president continuing the work of the previous "lead-president" after the end of its term.  

Danish Prime Minister Helle Thorning-Schmidt's recently stated that "Now more than ever, we need to work together in the EU. We must dare to make difficult decisions. We must restore confidence, security and optimism. We must, therefore, work towards a responsible Europe." 

The four main priorities of the Danish Presidency will be to contribute to:

• A responsible Europe
• A dynamic Europe
• A green Europe
• A safe Europe

To present and discuss the programme and priorities of the Danish Presidency, the Embassy of Denmark and the Malta-EU Steering & Action Committee would like to invite you to a Public Dialogue that is being held:

 Venue: University of Malta, Valletta campus in St Paul's Street, Valletta

Date: Thursday, 19th January 2012

Time: 3.00pm

 Coffee will be served at 2.30p.m.

The programme and priorities of the Danish Presidency will be presented by Birger Riis-Jørgensen, Ambassador of Denmark to Malta. A discussion, moderated by PBS journalist Keith Demicoli, will follow in which Francis Zammit Dimech MP (PN), Chairperson of the Parliamentary Committee on Foreign and European Affairs, George Vella MP (PL), Opposition Spokesperson on Foreign Affairs and Vanni Xuereb, MEUSAC Head, will take part.

It is our great pleasure to invite you to this event. Kindly confirm your attendance by contacting Brian Pace, MEUSAC on e-mail . It would be appreciated if your confirmation reaches MEUSAC offices by not later than noon of Wednesday, January 18, 2012.

Malta Enterprise is inviting businesses wishing to explore business opportunities in South Africa to participate in a Trade and Investment Promotion delegation to the cities of Johannesburg and Cape Town, between the 18^th and 25^th of February, 2012. Application form and draft programme of visit attached for your perusal. Closing date for application is Wednesday 18^th January, 2012.

Coinciding with the business delegation is the HedgeNews Africa Symposium 2012, being held on 23^rd of February in Cape Town. Further information about this event may be obtained from FinanceMalta or from the website: http://www.hedgenewsafrica.com/page/conference/index

A member of the Commonwealth of Nations and with English as the official business language, South Africa has a growing economy blossoming with opportunities within sectors such as financial and professional services, ICT, transport and logistics, food and beverage, real estate, energy as well as travel and tourism.

As part of its assistance Malta Enterprise will set up one-to-one meetings for participants through its institutional networks. Malta Enterprise will also refund eligible participants up to 60% of flight costs and a per diem allowance. Refund is for one representative per participating company.

Should you require the Application form and draft programme of visit feel free to contact us

Brussels, 11 January 2012 – Carrying a virtual train ticket or repaying a friend with your mobile phone, buying your groceries online, paying with your debit card abroad – the way European citizens shop and pay is radically changing. A secure and transparent integrated payments environment throughout the EU could create more efficient, modern and safer means of payments – for the benefits of consumers, merchants and payment providers. Based on the Green Paper consultation adopted today, the Commission seeks the views of stakeholders as to which obstacles hinder further market integration and how these could be resolved. The deadline for submitting contributions to the consultation is 11 April 2012.

Electronic payments are essential for every consumer, either when buying something at the points-of-sale or while shopping on the internet. Throughout the EU, more than 700 million payment cards are in use, e-commerce is offering tremendous opportunities and the number of smart phones is increasing at a dramatic rate. The Green Paper analyses the obstacles which hinder European market integration in these promising payment technologies.

Internal Market and Services Commissioner Michel Barnier said: "Europe has an opportunity to be at the cutting edge of what ‘making a payment' could mean in the future. However, we will not be able to reach this goal with the current level of market fragmentation. Secure, efficient, competitive and innovative electronic payments are crucial for consumers, retailers and companies to fully enjoy the benefits of the Single Market as well as to drive the growth of e-commerce. The consultation we are launching today is fully in line with the Commission's mandate focusing on growth and job creation and building on the achievements already made in the field of retail payments".

Vice President Joaquín Almunia added: "Inefficient payments systems within the European Union unduly raise transaction costs; undermine the global competitiveness of the European economy and limit its potential for growth. Europe's consumers, merchants and companies deserve payment services in tune with the 21st century: transparent, with genuine value-added and making the best use of our technologies."

Background information

This Green Paper assesses the current landscape of card, internet and mobile payments in Europe, identifies the gaps between the current situation and the vision of a fully integrated payments market and the barriers which have created these gaps. The objective of the Green Paper is to launch a broad consultation process with stakeholders to validate or contribute to the Commission's analysis and to help identify the right way to improve market integration.

The main issues identified in the paper concern:

• Market access and entry for existing and new service providers
• Payment security and data protection
• Transparent and efficient pricing of payment services
• Technical standardisation
• Inter-operability between service providers.

An additional crucial issue, overarching all the aspects above, is the one of proper governance. In other words, how can the remedies for the obstacles identified be best put in place so as to ensure that the benefits materialise in a reasonable time frame.

While the Commission has been active on card payments previously, mostly in the framework of the Single Euro Payments Area (SEPA) and by applying competition law (see the Commission's Decisions addressed to MasterCard and Visa), internet and mobile payments are relatively new policy fields at European level. When preparing the Green Paper, the Commission has therefore looked at a very broad range of policy areas that are potentially relevant to these fields.

Responses to the Green Paper are welcome until 11 April 2012. On the basis of a thorough analysis of the consultation feedback, the Commission will announce the next steps to be taken before the summer of 2012.

More information

http://ec.europa.eu/internal_market/payments/cim/index_en.htm 

The EU's Intelligent Energy – Europe (IEE) programme has become the main EU instrument to catalyse the spread of the efficient use of energy, greater use of renewable energy sources and more efficient transport. All legal entities, public or private, from the member states and a number of associate countries that have the financial, technical and operational capacity to completed the action to be supported can participate in a consortium.

Actions that will be supported are the promotion of increased energy efficiency and the use of renewable energy sources by overcoming non-technological barriers (legal, financial, institutional, cultural and social barriers) as per objectives set in the IEE work programme 2012. The project has to have clear objectives, high impact and clear European added value. The consortium has to consist of at least 3 partner organisations from 3 different eligible countries. The project budget is usually between € 0.5 – 2.5 million and the funding for the project is maximum three years. Under the IEE the EU can co-fund up to 75% of the total eligible costs.

The 2012 call is currently out. The deadline is 8 May 2012, 17:00 CET. 

For more information kindly visit: http://ec.europa.eu/energy/intelligent/call_for_proposals/index_en.htm

The application forms and guide for proposers available online. You will need these resources to submit or participate in an IEE project.

Please find them here: http://ec.europa.eu/energy/intelligent/call_for_proposals/call_library_en.htm

FUNDING PRIORITIES FOR 2012

1. SAVE: Energy efficiency   

2. ALTENER: New and renewable energy resources   

3. STEER: Energy in transport  

4. Integrated Initiatives   

Were you ever about to sign a contract for a personal loan, credit card, or other consumer credit and discovered that it was all working out more expensive than you had first expected? An EU-wide investigation of websites offering consumer credit took place to check whether consumers are receiving the information to which they are entitled under EU consumer law before signing a consumer credit contract.

National enforcement authorities checked more than 500 websites across the 27 Member States plus Norway and Iceland. They flagged 70% (393) of sites for further investigation in relation to the following main problems: the advertising did not include the required standard information; the offers omitted key information that is essential for making a decision; the costs were presented in a misleading way. National enforcement authorities will now contact financial institutions and credit intermediaries about suspected irregularities and ask them to clarify or take corrective action.  The sweep operation checked in particular how business is applying the Consumer Credit Directive (recently transposed in Member States), which aims to make it easier for consumers to understand and compare credit offers.

EU Consumer Commissioner John Dalli said "When people look for credit they sometimes discover that this credit turns out to be more expensive than it had originally appeared, because important information was sometimes unclear or missing. Consumer credit is not always easy to understand, which is why there is European legislation in place to help consumers make informed decisions. It is therefore very important that businesses provide consumers with the correct and necessary information. And it is the role of the Commission to work together with national enforcers to make this happen."

A "sweep" is an exercise to enforce EU law. It is led by the EU and carried out by national enforcement authorities who conduct simultaneous, coordinated checks for breaches in consumer law in a particular sector. The national enforcement authorities then contact operators about suspected irregularities and ask them to take corrective action. The Consumer Credit sweep took place in September 2011.

Six countries conducted a deeper investigation "Sweep Plus" of 57 sites to check compliance with consumer rules including payment arrangement, complaint handling and terms and conditions.

The market under scrutiny is used by consumers every day.  In 2010, financial institutions in the eurozone had more than €600 billion outstanding consumer credit.

Results

Of the 562 websites originally checked, only 30% passed the sweep test for compliance with the relevant EU consumer rules and 70% of these sites (393) were flagged for further investigation. The main problems found were:

• Missing information in consumer credit advertising: advertising on 258 (46% of websites checked) did not include all the standard information required by the Consumer Credit Directive, e.g. i) the annual percentage rate of charge (APR), which is essential to compare offers, ii) information on whether charges on obligatory ancillary services (e.g. insurance) were included in the total cost, or iii) on the duration of the credit agreement;
• Omission of key information on the offer: 244 (43%) websites did not give clear information about all the different elements of the total cost, e.g. i) on the type of interest rate, (fixed, variable or both), ii) on the duration of the credit (if applicable), and iii) on some of the costs related to the credit (e.g. an arrangement fee);
• Misleading presentation of the costs where the cost of the credit is displayed in a way which is false or could deceive consumers, e.g. i) in the way the price is calculated, or ii) if the consumer is not informed that beyond the cost of the consumer credit itself there is an added obligatory insurance. 116 websites (20%) of the websites displayed this kind of problem.

Sweep Plus

Six countries (Italy, Estonia, Latvia, Lithuania, Slovakia, Sweden) conducted a deeper investigation on 57 of the sites checked – the Sweep Plus exercise. The main problems related to pre-contractual information and contract terms.

What happens next?

The enforcement phase will now start: in the coming weeks and months business operators will be contacted by the national authorities and asked to provide clarifications or correct their websites. Failure to do so, depending on the national legislation which is applicable, can result in legal action leading to fines or even closure of the websites. The national enforcement authorities are asked to report back to the European Commission by autumn 2012. The Commission will report on the results.

For more information:

http://ec.europa.eu/consumers/enforcement/sweeps_en.htm
MEMO/12/02

Why did you become an entrepreneur? I was born into the business started by my grandfather. I had an interest in business for as long as I can remember. I always dreamt of having my own business.

How have you come to chose your line of business?

My grandfather used to sell medicine. I first opened a pharmacy and later started importing.

Where did you go on your last holiday?

Paris

What is your earliest memory?

When I formed a band.

If you could chose to be someone famous who would you be?

Pierre Cardin or Giorgio Armani