RSSCategory: Finance & Business

KPMG comments on new Financial Reporting Standard (FRS) for insurers

KPMG comments on new Financial Reporting Standard (FRS) for insurers

| April 17, 2014 | 0 Comments

The Financial Reporting Committee (FRC) recently published FRS 103 for Insurance Contracts which supplements FRS 102 and completes the new suite of Financial Reporting Standards replacing the current UK GAAP with effect from 1 January 2015. Commenting on the publication by the FRC Simon Nicholas, Director at KPMG, says it provides further clarity for insurers […]

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Secure Direct Mail representatives return from a successful Gibraltar KPMG Summit

Secure Direct Mail representatives return from a successful Gibraltar KPMG Summit

| April 14, 2014 | 0 Comments

Representatives from the Isle of Man Post Office’s specialist eGaming communications brand Secure Direct Mail attended the 2014 KPMG eGaming Summit event in Gibraltar on the 3rd of April. The event was varied in terms of its format and included panel and breakout sessions, of which the Secure Direct Mail led one which focused around […]

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Visitor Economy continues to grow

| April 14, 2014 | 0 Comments

Figures released recently by Treasury show that overall spending by visitors increased by 1.6% to £107million in 2013. The 2013 Passenger Survey showed a fall of 1% in the total number of visitors due to a fall of 8% in the number of visiting friends and relatives (VFR). However, the number of visitors staying in […]

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Department secures additional resources to drive economic growth

| April 14, 2014 | 0 Comments

The Department of Economic Development has secured additional funding of £2million over three years to help drive additional economic growth in a number of key areas. Minister for Economic Development John Shimmin MHK commented: ‘Through the important work that was done to help develop the Vision2020 strategy we have identified the key priorities and opportunities […]

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ILS set to represent Isle of Man at Worldwide Forum

ILS set to represent Isle of Man at Worldwide Forum

| April 10, 2014 | 0 Comments

eGaming specialists ILS Fiduciaries will be representing the Isle of Man at the first ever worldwide forum aimed at the lottery messenger industry. The Global Lottery Messenger Forum, which is aimed at an industry which sees firms act on behalf of clients who want to buy tickets in overseas lotteries through online subscription services, is […]

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Engineering work starts on Manx Telecom’s 4G network

Engineering work starts on Manx Telecom’s 4G network

| April 8, 2014 | 0 Comments

An important phase of Manx Telecom’s 4G network roll-out commences on Wednesday 9th April. As part of the company’s £10million investment in the technology which will bring superfast mobile broadband to the Island this summer, the massive project involves the creation of an entirely new mobile network. The latest phase requires new infrastructure to be […]

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Manx Radio To Be Given Recognition In Primary Legislation

Manx Radio To Be Given Recognition In Primary Legislation

| April 8, 2014 | 0 Comments

Fifty years after Manx Radio first launched, the station is to be recognised in primary legislation as the National Public Service Broadcaster of the Isle of Man. Following the publication of a Select Committee report in early March, where the Committee were tasked with ‘examining the matter of the policy, delivery, cost and scope of […]

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Isle of Man welcomes visit by Chinese shipping representatives

Isle of Man welcomes visit by Chinese shipping representatives

| April 8, 2014 | 0 Comments

The Isle of Man has this week hosted a visit by leading figures from China’s shipping industry, as part of an ongoing programme of engagement to strengthen relations with one of the world’s economic superpowers. Mr Sun Feng, Vice President of the China Classification Society (CCS), and Mr Zhang Hui, Managing Director of CCS Europe, […]

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Isle of Man forms Manx Digital Currency Association

Isle of Man forms Manx Digital Currency Association

| April 7, 2014 | 0 Comments

Over 40 industry participants attended an inaugural meeting on April 1st to form the Manx Digital Currency Association, MDCA. Chaired by barrister Paul Davis, the meeting moved quickly to approve formation of the Association and get to business. Among the attendees were representatives of miners, exchanges, banks, gaming companies, CSPs, lawyers, web designers and programmers, […]

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Isle of Man Bank and NatWest record more than two million transactions since launch

| April 4, 2014 | 0 Comments

Isle of Man Bank and NatWest are experiencing massive growth in the use of mobile banking, reflecting a similar trend reported in the UK this week. Locally Isle of Man Bank and NatWest were the first banks to provide mobile banking for smartphones and have introduced apps for both personal and business customers. Latest figures […]

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