One of the flagship tech events in Asia and globally – Asia Tech x Singapore (ATxSG), is ending today in Singapore. The event couples technology with the social and decision-making spheres, as well as the digital economy. This four-day event was also packed with conferences featuring government, company, and science representatives discussing at length the role of technology in the shared digital future. The extensive exhibition part organized under the heading 'Redefining Tech for a Better Future' introduced the latest tech trends which were divided into 5 co-located events, focusing on media and entertainment, electronic communications and connections, satellite technology, artificial intelligence, cyber security, internet of things, as well as quantum technology and start-up businesses. Over the course of four days, more than 17,000 people attended the events that featured over 350 speakers and more than 1,000 high-tech exhibitors. 

One of the flagship tech events in Asia, the Asia Tech x Singapore (ATxSG), started today in Singapore. Invited by the organizers, the VZMD President, Mr. Kristjan Verbič, is attending the opening event, while over 17,000 participants will attend the ATxSG in the next four days, being addressed by more than 350 distinguished speakers, including the Deputy Prime Minister and Minister for Finance of Singapore, Lawrence Wong, the Prime Minister of Estonia, Kaja Kallas, the Dutch Minister for Digitalization, Alexandra van Huffelen, the former Primer Minister of New Zealand, Jacinda Ardern, as well as many experts and management representatives of the companies like Alibaba Group, Google, IBM, Mastercard, Microsoft Asia, NVIDIA, SAP etc. The events showcase various topics, enabling the participants to network and keep their finger on the latest tech trends, challenges and opportunities, and the company, science, and government representatives to exchange views.

The Slovenian economic delegation accompanying the Deputy Prime Minister of the Republic of Slovenia and Minister of Foreign Affairs, H.E. Ms. Tanja Fajon, in her official visit, arrived on Saturday in Ho Chi Minh City (formerly known as Saigon). The delegation was organized by the Chamber of Commerce and Industry of Slovenia, the Public Agency SPIRIT Slovenia, the Ministry of the Economy, Tourism and Sport, and the Ministry of Foreign and European Affairs.

The VZMD President, Mr. Kristjan Verbič, arrived in Madrid yesterday where he, as the official representative of the European Federation of Investors and Financial Services Users (BETTER FINANCE) attended several meetings with both the media and the lawyers regarding today's shareholders' meeting of the multinational company FERROVIAL. This is a major meeting where the shareholders will decide on the company's merger and relocating its headquarters from Spain to the Netherlands. The Spanish government strongly opposes the relocation and is attempting to prevent it; meanwhile, the company itself and the Spanish Association of Minority Shareholders (AEMEC) highlight the numerous advantages and opportunities for the company, its further growth, as well as operation and the option to be listed in the US and Canada. FERROVIAL has  an important presence in the global infrastructure sector, specifically in the key areas of highways, airports, construction and mobility, and energy infrastructure. They are in charge of construction and management of the highways and railroads across Europe, North- and South America, as well as Australia, and are managing numerous major airports, e.g. Heathrow, JFK (terminal 1), Glasgow etc.

This year's edition of the EUROPEAN CONSUMER SUMMIT 2023, held yesterday in Brussels by the EUROPEAN COMMISSION, took place under the heading "Next on the Consumer Agenda – moving ahead while managing multiple crises". This is a meeting at the highest level regarding the EU consumer protection. The guests were addressed by Didier Reynders, European Commissioner for Justice, Erik Slottner, the Minister for Public Administration, Sweden, Alberto Garzón Espinosa, the Minister of Consumer Affairs, Spain, Monique Goyens, Director General of the European Consumer Organisation (BEUC), and many others.

VZMD welcomes the unambiguous explanations of the Ministry of Finance, which immediately caused the removal of the illegal explanations by FURS regarding the additional taxation of the cheated and squeezed-out minority shareholders. VZMD has waited for an official response to their Call to FURS for more than three weeks and is already preparing to pay out additional compensations to the squeezed-out shareholders of ACH. Namely, the significant monetary difference to the established compensation has already been transferred to the trust account of the authorized attorney in the beginning of February; however, due to FURS' questionable opinion, the funds were held there for the matter to be clarified; otherwise, the minority shareholders would have to immediately and additionally pay a 25% advance income tax return (in case of payouts). Last week, FURS finally removed the 5th edition of the document "Other income under the Personal Income Tax Act" from January 2023 and replaced it with the 6th edition, which does not contain the paragraph 2.1 "Additional cash compensation"!

VZMD sent a letter to the Director General of the Financial Administration of the Republic of Slovenia (FURS), Mr. Peter Grum; the letter was a "Call for the correction of the unlawful new explanations published on the FURS websites". The VZMD  experts were shocked and distraught when they read the 5th edition of the document "Other income under the Personal Income Tax Act (detailed description)" which contains an ADDITIONAL SECTION regarding the "additional remuneration" which is ENTIRELY WRONG, because it also considers remuneration payments for the squeeze-out or expropriation of minority shareholders as other income under the Personal Income Tax Act.

In Brussels, a two-day meeting of the Expert Advisory Group of the Financial Services Users (FSUG) is taking place. FSUG was established by the European Commission in 2010 in order to include the financial services users in the process of preparation of the regulations, procedures, and policies at the EU level; as of now, it has 20 members from 11 EU countries, with VZMD President, Mr. Kristjan Verbič, as the sole representative from Slovenia. Yesterday, the FSUG members listened to the presentations on the efforts of individual members, and afterward, they addressed the current initiatives of the European Commission regarding the insurance services, the options to build upon the past work of the FSUG, and the main topic, which was the prices of various financial services in the EU member states, as well as the topics for the next meeting of the FSUG in Helsinki.

Last month, the representatives of the European Federation of Investors and Financial Services Users (BETTER FINANCE), of which VZMD is an active member, met with Patricia Reilly, the Head of Cabinet of the Commissioner for Financial Services, Financial Stability and Capital Markets Union. Ms. Reilly reiterated the commitment of the Commissioner Mairéad McGuinness to the key priorities of the EU Retail Investment Strategy, mainly to coherent protection of various legal instruments, building on the competitiveness and cost efficiency of products, as well as bias-free advice.

At the end of past week, VZMD brought a class action before the District court of Ljubljana against TELEKOM SLOVENIJE due to the damages caused to the carrier's subscribers in an estimated amount of EUR 122,689,762.25. According to conservative estimates of VZMD's experts, unilateral price increases to subscription plans without providing any reasonable grounds, and the method of these increases in the past five years have caused damages to over 450,000 Telekom subscribers. This month, similar actions will also be brought against A1, Telemach, and T-2, who have, according to VZMD's estimates, caused damages to approx. 800,000 subscribers.