Malta Business Review Issue 2 by Adrian Friggieri

Issue 2 – Octber 2014

Years of INSPIRING PEOPLE & ORGANISATIONS

WWW.THINKTALENT.COM.MT

CoVER SToRy

EXCLUSIVE INTERVIEW

SpECIaL fEaTURE

foCUS

Human Capital Partners

Maleficent Mighty Heart

Continuous Improvement

International Fleet Bound for Malta

MBR interviews three pioneering entrepreneurs leading ThinkTalent - p.06

Meet Holywood’s acclaimed and award winning supertstar actress Angelina Jolie - p.26

The vision of Paul Bugeja, CEO of Malta Tourism Authority - p.37

The 2014 Rolex Middle Sea Race -

p.56

BAYSTREET, ST. JULIANS REPUBLIC STREET, VALLETTA

LIFE IS A SMILE HAPPY DIAMONDS COLLECTION

Issue 2 – Octber 2014

Years of INSPIRING PEOPLE & ORGANISATIONS

06 WWW.THINKTALENT.COM.MT

CoVER SToRy

EXCLUSIVE INTERVIEW

Human Capital Partners

Maleficent Mighty Heart

MBR interviews three pioneering entrepreneurs leading ThinkTalent - p.06

Meet Holywood’s acclaimed and award winning supertstar actress Angelina Jolie - p.26

SpECIaL fEaTURE Continuous Improvement

The vision of Paul Bugeja, CEO of Malta Tourism Authority - p.37

foCUS International Fleet Bound for Malta

The 2014 Rolex Middle Sea Race -

p.56

WWW.THINKTALENT.COM.MT

puBlisHer MBR Publications Limited MBR Publications Limited

eDitor Martin Vella teCHniCal aDvisor Marcelle D’Argy Smith

sales DireCtor Margaret Brincat art Design Melanie Mifsud aDvertising 9940 6743 / 9926 0162; Email: margaret@mbrpublications.net; martin@mbrpublications.net ContriButors

Fred Allen ; Jonathan J Borg; George Carol; Beverly Cutajar; Joe Dimech; Richard Geres; Louis Naudi; Michelle Gialanze; Francesca Orsini ; Patrick Psaila

speCial tHanks

DOI; European Research Council; Malta Tourism Authority; Mediterranean Conference Centre; Minister for the Economy, Investments, ICT & Small Business; Minister for Finance; Royal Malta Yacht Club; Thea Saliba; Think Talent; The Interview People;

Cover story

Corporate events`

Creating a positive DiFFerenCe tHe malta green management & alternative energy B2B networking summit Preview to what promises to be Malta’s foremost green competitive management and alternative energy conference

learn, network & grow your Business knowleDge & iCt Fest 2014 Described as the ICT and knowledge event of the year, we get a sneak teaser on a full week of events being held in November at SmartCity Malta

Making the Future together - SMe Malta SuMMit & B2B networking Forum 2014 Why SMEs from various industries and commercial sectors are gathering at the SME Malta Summit in November

telepHone +356 2149 7814 quote oF tHe montH

Human Capital partners Malta Business Review interviews three pioneering entrepreneurs and Executive Directors of ThinkTalent

print proDuCtion Velprint oFFiCes 41B, Wayne, Triq il-Herba, Birkirkara, BKR 2322

maximising tHe Full potential Mediterranean Conference Center Chairman, Kenneth Spiteri reveals his vision and projects for Malta’s premier conference venue

“Quality is everyone’s responsibility.” - William Edwards Deming William Edwards Deming was an American statistician, professor, author, lecturer, and consultant.

Disclaimer All rights reserved. No part of this work covered by copyright may be reproduced or copied and reproduction in whole or part is strictly prohibited without written permission of the publisher. All content material available on this publication is duly protected by Maltese and International Law. No person, organisation, other publisher or online web content manager should rely, or on any way act upon any part of the contents of this publication, whether that information is sourced from the website, magazine or related product without first obtaining the publisher’s consent. The opinions expressed in the Malta Business Review are those of the authors or contributors, and are not necessarily those of the editor or publisher.

exClusive interview oF tHe montH 26

maleFiCent migHty Heart An exclusive and rare interview with Hollywood’s acclaimed and award winning superstar Angelina Jolie, also a Special Envoy and former Goodwill Ambassador for the United Nations High Commissioner for Refugees (UNHCR)

CONTENTS 30

SigMa: a Pro-igaMing, Pro enterPriSe summit tHis Fall The CEO of Viking PC Health Ltd, Eman Pulis announces SIGMA, the summit of iGaming event in Malta

speCial Features

aDDing value An interview the Malta Tourism Authority Chairman Gavin Gulia about current strategy and enhancing overall tourism while preserving the environment and the heritage of Malta

Continuous improvement We talk with Paul Bugeja, Chief Executive Officer of Malta Tourism Authority on the present and the future of MTA

a gloBal tourist Destination Tony Coleiro, Chairman Enforcement Directorate Board of the MTA shares his views ON hospitality enforcement

inspiration anD DistinCtion Singer, charming TV personality and soon lawyer to be Thea Saliba graciously allows us some of her precious time for an exclusive interview

international Fleet BounD For malta In a unique feature on the 2014 Rolex Middle Sea Race, we highlight the history and facts about the 606-mile race

Malta Business Review

editorial hether we are trying to motivate our team, close a deal with a customer, or secure funding from an investor, a casual conversation is usually a waste of our valuable time. The result is a manager who is always “too busy,” but never seems to get the business done and the team moving. When we slow down our talking enough to be in the present, connecting with others ensues, and this is when we really listen to one another. Rapport building requires listening, more than talking. Powerful listening causes trust to grow. The questions we ask help us to understand a situation better. When we ask good questions and really listen to the answers, conversations will result to be the triggers to professional development. Thus our ability to change course of direction occurs through conversations. By design, we can change the conversation in the office, at board meetings, and with peers who seem to have gone off track. Affirming others through conversation builds relationships and momentum. The past two months have been overtly very important to us at Malta Business Review. We set milestones to act as benchmarks for the future. It has not been an easy ride. The trials and tribulations of setting up a new company, tailoring a business plan, finding and opening up new offices, furnishing and equipping our headquarters, launching and publishing a new topmost quality monthly publication, plus organising a series of high powered corporate events of the highest degree at 5-star hotel settings has been tricky, challenging, tense, stressful, yet awe-inspiring. I wish to thank all of those who assisted and helped us in our quest to provide the business community with the best business news print and prominent interviews with foremost business leaders, and those who encouraged us in our endeavours. During this period we conducted intensive conversations and built strong relationships by listening to grow trust. I could not help but notice all along that the pace of change has accelerated with lightning speed. In such a rapidly changing and fast business environment, strong and decisive leadership becomes all the more critical in order to take on the strategic, tactical and structural issues required to win in tomorrow’s competitions. The individuals appearing on the front cover are committed to the same mind-set and thought leadership that we share at MBR. They are committed to producing innovative products, and providing superior services which create long-term and lasting shareholder value. All our interviews are special and unsurpassed. I wish you an enjoyable read, especially with our exclusive and superlative interview of the month with Angelina Jolie.

MARTIN VeLLA

www.maltabusinessreview.net

HUMAN CAPITAL PARTNERS by Martin Vella

This month we are proud to feature an exceptionally interesting cover story with three progressive entrepreneurs and Executive Directors- Beverly Cutajar, Joe Dimech and Patrick Psaila. ThinkTalent’s corporate philosophy revolves around three inter-related features of their transformation and development applications. These are: Create; Develop; Achieve. Let’s find out why the founders of ThinkTalent are so deeply passionate about their work

R Specialists Joe Dimech and Beverly Cutajar and Psychologist Patrick Psaila explained to us how today’s organisations face major challenges in a rapidly changing business climate that drives the economy in ever more complex and sophisticated ways. While competition is becoming increasingly cut-throat, there is compounding pressure on organisations to do more with less, to maximise efficiency, raise the bar and reach record targets year after year. “Some businesses strive and flourish, others fight for survival while most endeavour to find innovative and sustainable ways to stabilise and grow consistently,” states Mr. Dimech, who believes that knowledge and technology tend to be available and relatively easily accessible, but human factors remain central to the success or failure of organisations. Mr Psaila adds that, “the extent to which people commit themselves towards achieving organisational goals plays a major role in determining the future of the business. Motivation, drive, initiative, dedication, innovation, collaboration and professional integrity are the foundations of any organisation that wants to not only survive but strive and excel. These essential qualities cannot be bought, manufactured or programmed but they can be formed, nurtured and developed.” 06

Dr. Cutajar refers to essential skills sets that form the core of a powerful and motivated workforce leadership. She states that “while technical expertise is a basic requirement in any given field, leading and inspiring people requires a specific set of competencies, qualities and values that drive a business towards success. Leadership does not happen by chance and the more complex and challenging the corporate world becomes the more essential it is that organisations are led by truly effective leaders that earn the respect and commitment of their people.” She affirms that leadership can be nurtured, formed and continuously developed. In essence, while the business scenario is more complex and potentially daunting than ever, it is also more exciting and challenging. Five years ago, these three seasoned and experienced professionals, joined forces to rise to this challenge and created ThinkTalent Ltd. with a common purpose, determined to work towards a common goal. This is a deep commitment to inspire and empower people and organisations, bring out their very best and optimise their business potential. They tell us how, “our synergy results in top quality consultancy and professional development services that enable organisations to reach peak performance and excellence through

people. This was ThinkTalent’s mission and purpose in 2009. Today, five years later we are as enthusiastic as ever to keep on growing our success story. “

“Leadership does not happen by chance and the more complex and challenging the corporate world becomes the more essential it is that organisations are led by truly effective leaders” ThinkTalent service brings together diverse and multi-skilled specialists that combine practical experience, time tested initiatives and projects as well as the credentials to back its services. I asked Mr Dimech why they are positioned for growth and what do they harness. He states that “with the advantage of having led both local as well as international HR projects, we are optimally positioned to understand the explicit needs

cover story

by maximising the potential of their most prized asset –its people. Together, we facilitate the understanding and internalization of the corporate vision, mission and values. Whilst ensuring that relevant performance gaps are addressed, we build confidence in people to strive towards the organisation’s success and make it their own,” she says.

“As our experience transcends diverse sectors as well as cultures, we can create tailor-made solutions aimed at our client’s own specific needs”

of many businesses at different levels. As our experience transcends diverse sectors as well as cultures, we can create tailor-made solutions aimed at our client’s own specific needs. At its core, ThinkTalent harnesses crossindustry expertise built on involvement within the Hospitality, Manufacturing, Education, Insurance, Tourism, Information Technology, Communications, Airline,Aviation, Property, Catering, Retail, I-Gaming, Maritime, Financial Services and the Public Sector.” So how do ThinkTalent treat their clients’ business as their own? “Leaving no stone unturned to achieve the organisation’s vision and corporate goals,” responds Dr Cutajar, continuing, “this obligation is intrinsically bound to our promise to take organisations forward

“Our core services focus around three main areas: HR and Business Strategy consultancy; Personal and Professional Development; Workplace and Executive Coaching,” proclaims Mr. Psaila. He states that by delivering these service areas ThinkTalent have developed “Seven Service Promises” that they offer as their guarantee of their dedication, commitment and professionalism. These areas are: 1. ThinkTalent design and customise their interventions according to their clients’ specific needs always ensuring alignment with corporate objectives and desired business outcomes. Their clients can rest assured that they will never get a “one-sizefits-all off the shelf product. 2. The company’s training approach is completely learner centred and based on the most modern and cutting edge methods of adult experiential learning that is firmly grounded in research to provide highly applicable and transferrable experiences. 3. Approaching organisations from three important aspects: the psychological; the strategic and the operational. This ensures that the interventions are comprehensive and complete. 4. Consulting services which guarantee in-depth, long-term support and

Malta Business Review

commitment to their clients. ThinkTalent base their services on a solid trusting relationship with their clients. 5. Always offering one direct, open and personalised reference point for their clients to deal with. This means no sales people or account managers to go through in order to get to gain access to our services. 6. Being confident in their expertise, experience and qualifications in the services they offer they do not go beyond their professional parameters and they are very willing to refer or out-source to other professionals when client requests fall outside their area of expertise. 7. Taking pride in understanding the organisational culture of their clients and investing time to ensure that whatever they propose and deliver is aligned and tuned to the specific characteristics of their clients. Dr. Cutajar states “Over the past five years, we are proud to say that we have supported and inspired several small, medium and large organisations in projects aimed at developing their people specifically in the area of leadership and management,” Mr. Dimech also explains how most of their interventions were medium term projects that combined consultancy, coaching and training that resulted in significant improvements in organisational performance, staff morale and motivation as well as an increase in professional behaviours that are aligned with organisations’ corporate values. Finally Mr. Psaila adds on that, “while our main focus has been on developing effective leaders we also provide other services such as personality profiling, workplace counselling, mystery shopping, teambuilding, performance management, assessment centres and HR consultancy.” In everything ThinkTalent do, they commit themselves to their Seven Service Promises that point to core principle that define them – a professional relationship with their clients based on trust, integrity and a commitment to deliver and exceed expectations. MBR All Rights Reserved | Copyright 2014

EDITOR’S NOTE

JOE DIMECH EXECUTIVE DIRECTOR

Business Strategy Consultancy

DR. BEVERLY CUTAJAR EXECUTIVE DIRECTOR

Human Resources Operations

PATRICK PSAILA EXECUTIVE DIRECTOR

Leadership Development and Training

ThinkTalent was established in 2009 as a consultancy and development company focused on implementing and improving the utilisation of human resources. ThinkTalent harnesses cross-industry expertise built on involvement within the Hospitality, Manufacturing, Education, Tourism, Information Technology, Communications, Catering, Retail, I-Gaming, Shipping, Financial Services and the Public Sector. www.maltabusinessreview.net

LocaL

Malta Business Review

INVESTORS COLLECT THE INTERNATIONAL EXPRESSION OF INTEREST DOCUMENT FOR THE DEVELOPMENT OF WHITE ROCKS MALTA The International Expression of Interest, issued by the Government for the design, construction and operation of White Rocks Malta, was collected by 17 investors. These investors collected the document from the Privatisation Unit against a non-refundable collection fee of €10,000.

The Government launched the international expression of interest for the design, construction and operation of White Rocks Malta on the 20th of June. From that date, a total of 139 requests were submitted to the Privatisation Unit for further information, out of which 17 collected the document by the deadline. The investors who collected the document now have until 30th September to request clarifications, which the Privatisation Unit needs to reply by the 15th of October so that submissions can be made by the 24th of October. The investors who collected the International Expression of Interest range from those from outside Europe, others from within Europe as well as Maltese companies and consortia. The Minister for the Economy, Investment and Small business, Dr. Chris Cardona said that, once again, great interest has been shown in an International Call issued by the Maltese Government. “Once again, we are experiencing great interest from local, as well as international, investors in a call issued by the Government. This is further evidence of the trust in the Maltese Government, in its Economic strategy and, more importantly, in the Maltese and Gozitan people” stated Minister Cardona. Minister Cardona said that this interest in the White Rocks Malta project continues to fill this government with courage to continue working so as to put this country at the forefront of Europe, as this country is already managing to do in various sectors including the economy and employment.

Artist’s Impression of the White Rocks Project

“We are looking forward so that with determination and commitment we ensure that this project materialises. This will make certain that justice is made to this area and to the people who, for many years, have had to witness this dilapidation, and mostly, have had to see that a site with great potential in our country is not being used” emphasised Minster Cardona. MBR

BENEFICIARIES RECEIVE A GRANT AGREEMENT IN RELATION TO THEIR PROJECT FUNDED UNDER THE ERASMUS+ PROGRAMME The European Union Programmes Agency yesterday organised the Grant Award Ceremony, where 54 beneficiaries received a grant agreement in relation to their project funded under the Erasmus+ Programme. The grant agreements presented amounted to: • • •

€2,919.090.00 under Key Action 1: Learning Mobility of Individuals; €1,619,314.00 under Key Action 2: Cooperation for innovation and the exchange of good practices (Strategic Partnerships) and +€50,000.00 under Key Action 3: Support for policy reform.

The event also represented an important opportunity for beneficiaries to meet members of the National Agency’s staff who will be guiding them throughout the different stages of the project life cycle. During this event the beneficiaries also had the possibility of discussing preliminary general points of information about the initial stages of implementation with an aim to secure good project management practice. Minister for Education and Employment Evarist Bartolo welcomed the diversity in the proposals and said that beneficiaries should utilise to the full the potential of these projects. MBR www.maltabusinessreview.net

INCOME & GROWTH INVESTMENT SOLUTIONS

Vilhena Global Balanced Multi-Manager Fund The Vilhena Global Balanced Multi-Manager Fund is designed to provide a diversified and well balanced global exposure across a broad range of collective investment schemes which invest in cash, bonds and/or equities. This Fund, through a Multi-Manager approach, gives investors access to a selection of leading fund managers and to a wide array of investments, which are actively managed to provide a realistic prospect of capital growth and income over the longer term.

VILHENA GLOBAL BALANCED MULTI-MANAGER FUND 80072344 I vfm.com.mt

BOV Branches/Investment Centres & Licensed Financial Intermediaries *The income that the assets of the Fund generate in relation to their value or market, and the frequency of payment may vary and are not guaranteed. The value of the investment can go down as well as up and any initial charges and exit fees may lower the amount invested and the amount received upon redemptions. Investments should be based on the full details of the Prospectus, Fund Supplement and the KIID which may be obtained from Valletta Fund Management Limited (â&#x20AC;&#x153;VFMâ&#x20AC;?), Bank of Valletta plc Branches/Investment Centres and other Licensed Financial Intermediaries. VFM is licensed to provide Investment Services in Malta by the MFSA. The Vilhena Funds SICAV plc is licensed by the MFSA and qualifies as a UCITS. Issued by VFM, TG Complex, Suite 2, Level 3, Brewery Street, Mriehel BKR 3000, Malta. Tel: 21227311, Fax: 22755661, Email: infovfm@bov.com, Website: www.vfm.com.mt. Source: VFM

INTERNATIONAL DIPLOMACY

Malta Business Review

MINISTER CARDONA ATTENDS MALTA DAY CELEBRATIONS DURING AN OFFICIAL VISIT IN DUBAI The Minister for the Economy, Investment and Small Business Chris Cardona, who is currently heading a delegation in the Middle East, attended the Malta Day celebrations being held in Dubai on the 50th anniversary since Malta achieved its independence. Minister Cardona addressed the guests during the reception and expressed his great pleasure in celebrating this important anniversary in Dubai. Dr. Cardona emphasised the great strides forward Malta has made since achieving its independence and stated that this is mainly a result of hard work and the optimistic vision of Malta’s future.

The Hon Minister Dr Chris Cardona, HE Minister Abdulla Ghobash and Anthony P Tabone

“Today, while enjoying the results of all that has been achieved to date, we look forward with renewed drive and vigor to a period of continued growth and an ongoing search for excellence in all that we do” held Minister Cardona.

The visit which is currently taking place follows a business delegation which Minister Cardona led to Dubai in March of this year. “The opportunities inherent in the relationship between our countries have been admirably laid out by Mr Tabone and I have little to add other than to confirm that Malta fully intends to keep working on strengthening our bilateral relationship for the benefit of both our countries throughout 2014 and beyond” concluded Minister Cardona. His Excellency Minister Abdulla Ghobash, the Minister of State of Dubai, was the guest of honour at the Malta Day reception. Mr Anthony Tabone, the Consul General in Dubai, was also present during the event along with other members of the Malta delegation. MBR

PRESENTATION OF CREDENTIALS BY THE NEW AMBASSADOR OF SPAIN ACCREDITED TO MALTA

HE Jose María Pons Irazazábal presenting his credentials to the President of Malta H E Marie Louise Coleiro Preca

The new Ambassador of Spain accredited to Malta Jose María Pons Irazazábal presented his credentials to the President of Malta H E Marie Louise Coleiro Preca. At the ceremony, held at the Presidential Palace in Valletta, President Marie Louise Coleiro Preca welcomed Ambassador Jose Maria Pons Irazazábal, and congratulated him on the commencement of his term. The President and the Ambassador

discussed bilateral relations between the two countries. The Ambassador of Spain possesses a BA Degree in Law by the University of Barcelona and he is a Professor of European Institutions at the Institute of European Studies, University of Alcala de Henares, at the CEU University Madrid, and at the Real Instituto de Estudios Europeos, Zaragoza. MBR

AMBASSADOR OF IRELAND ACCREDITED TO MALTA PRESENTS HIS CREDENTIALS The Ambassador of the Republic of Ireland accredited to Malta Mr Pádraig Mac Coscair presented his letter of credence to the President of Malta Marie Louise Coleiro Preca. The ceremony took place at the Ambassadors’ Hall at the Presidential Palace in Valletta.

Mr Pádraig Mac Coscair presenting his letter of credence to the President of Malta Marie Louise Coleiro Preca

Mr Pádraig Mac Coscair was born on 18 November, 1961 in port city of Cork, Ireland. He is a graduate of the Open University. He joined the Department of Foreign Affairs in 2000 and has served as Deputy Head of Mission in

Ireland’s Embassies to the Kingdom of Spain and the Republic of Turkey. Prior to joining the Department of Foreign Affairs he worked in the Departments of Industry & Commerce, Agriculture & Food, and the Irish Patents Office. Most recently he headed the Public Information and Communications initiative for Irish Aid, the Irish Government’s programme for overseas development. He is married to Ann Kieran and they have two children. MBR

Courtesy: DOI www.maltabusinessreview.net

leadership

Malta Business Review

5 Leadership Lessons From Captain KirK While the original Star Trek television series ran for only 79 episodes from 1966 to 1969, it has remained one of the most popular television franchises in history. Central to its popularity is the character of Captain James T. Kirk, played by William Shatner originally, and then by Chris Pine beginning with the 2009 movie Here are five leadersHip lessons from Captain KirK: 1. Don’t Believe in No-Win Scenarios. Beginning with the Kobayashi Maru test at Starfleet Academy, to every time the auto destruct is triggered and shut down within moments of catastrophe on the Starship Enterprise, one of the most important lessons Captain Kirk teaches is that there is never a benefit from accepting a no-win scenario. Sometimes rules are meant to be broken. Sometimes, they are meant to be broken audaciously. 2. Live with Awe and Wonder. When facing aliens, Kirk never responds with fear or trepidation. Instead, William Shatner explained, he faced everything he encountered in the universe with awe and wonder. We each meet aliens every day of our lives, Shatner also said, every time we meet someone who has an opinion different than our own. 3. Overlook Honest Mistakes. Everyone makes mistakes. Kirk was always quick to recognize and correct mistakes he made. However, has also quick to forgive mistakes in others. He would never dwell on mistakes. He would move on. We learn more from our mistakes than we do by doing anything perfectly. It is how we grow. 5. Accept Advice But Make Your Own Decisions. James Kirk’s two closest friends represented the logical (Spock)

EDITOR’S NOTE David Weedmark is a Canadian author, poet and novelist. For more thoughts by David, including his thoughts on how to define leadership.

and the emotional (McCoy) aspects of human nature. He accepted their advice, but was seldom ruled by only the heart or reason alone. Getting advice from others is important because it gives us a wider perspective of any situation. At the end of the day, however, remember it is your life and your decision alone that counts. Be the captain of your own ship. 4. Take Action: When faced between doing nothing, and taking action, Kirk always chose to take action. When uncertain, he would always prefer to leap before looking and, if necessary, improvise along the way, adjusting his actions as needed. Unlike other leaders, he preferred to step into the fray first, rather than stay in the background, watching from a distance. Step forward and do what you think is best rather than hiding behind what is merely expected of you. Treat each new day as a new planet to be explored. Beam down, get dirty if you have to, and never be afraid to get your shirt ripped. MBR Source: http://EzineArticles.com www.maltabusinessreview.net

Forthcoming EvEnt

Malta Business Review

MALTA GREEN MANAGEMENT & ALTERNATIVE ENERGY B2B NETWORKING FORUM Date: Friday 31st October, 2014 Venue: The Ballroom of the Radisson Blu Resort St.Julian’s

Professionally organised conference and event focusing on the green management, renewable energy, climate change and sustainability sectors. Our B2B events and conferences are dedicated to creating high quality business networking events that provide strategic business intelligence and connect industry, government and investors. We were the first company to create independent, professional event for the renewable energy and sustainability markets. “MBR Publications have put together an excellent agenda for the Green Management & Alternative Energy Summit and I am truly

excited to participate and learn from so many industry leaders” Ing. Charles Buttigieg, Energy Policy Division, Ministry for Energy and the Conservation of Water 100% dedicated to sustainable business We work entirely toward enhancing green and smart issues, providing renewable energy space, and promote industry awards for promoting sustainable practices in all commercial activities.

business generating events We have developed the Green Event Database, one of the best databases in the of senior executives and proven buyers and delegates from the renewable energy industry. our Mission We aim to be the industry’s most trusted provider of consistently high value intelligence and connections demonstrated by a continually rising measure of customer satisfaction.

OUR EVENTs AcT As AN EssENTIAL GEAR IN ThE MOdERN EcONOMY, cREATING MIcRO MARKETpLAcEs WhERE ExEcUTIVEs cAN MEET, GAIN INFORMATION ANd dO BUsINEss.

the power of being face to face In a recent Harvard Business Review survey, 95% of respondents said that nothing beats face to face meetings when it comes to developing new clients, negotiating, maintaining relationships and overcoming cultural differences. Our events provide excellent opportunities to conduct face to face meetings in the setting of 5 star business hotels. Our events enable you to make the right connections and conduct face to face meetings with potential clients, partners and suppliers. To find out how you can use our Green Event Platform to meet new clients please contact Margaret Brincat 9940 6743 or Martin Vella on 9926 0162 or email at margaret@mbrpublications.net

www.maltabusinessreview.net

Main EvEnt of thE YEar

Malta Business Review

KNOWLEDGE & ICT fest 2014 veNUe: SmArTCITY mALTA 17th -21st NOVEVEMBER

KNOWLEDGE & ICT

FEST 201

something

every

one ORGAnISeD BY

venue

Property & Life Events

•

Networking with Schools, Vocational Colleges, the University of Malta, Private Schools, MCAST, English Language Schools, ETC, ICT solution providers, ICT Companies, HR & Recruitment Companies, Local Councils, Health Department (Nursing and Medical Schools) • Informative seminars, workshops and con-ferences to provide market insights and an overview of product and technological trends; and… Grasp additional business opportunities at the concurrent SME week and SME Event. ICT SmartCity Conference features top ICT professionals from industry, academia, re-search. Speakers from across the ICT sector will address arrange of issues from cloud computing, broadband, ICT infrastructures, ICT skills, cyber security and long term visions on the future and much more.

Under the auspices of the Minister for the Economy, Investments, ICT and Small Business

Under the Patronage and Auspices of the Minister of Education For more information please contact propertylife2013@gmail.com or call on 99406743 or 99260162

presented By

17th - 21st November For further information contact Margaret Brincat on 9940 6743 / margaret@mbrpublications.net MBR Publications Limited

www.maltabusinessreview.net

SME EvEnt

Malta Business Review

SME MALTA SUMMIT & B2B NETWORKING FORUM Making the Future Together

About the event SMEs from Various Industries Gather at 2014 SME Malta Summit Malta Stock Exchange’s is the main sponsor for the first SME Malta Summit & B2B Networking Forum, being held at the Hilton Malta, Portomaso on 28th November, 2014, will be attracting participants from a wide variety of industries ranging from Financial Services, Business Services to Retail to Hospitality, to ICT, as well as Manufacturing and Construction. More than half of the attendees are senior directors, CEOs, business owners and DMUs from SMEs in Malta. A broad mix of high profile keynote speakers from different walks of the business community, including technology vendors, SME business owners and senior executives will be attending during the summit. ICT companies, exhibitors and sponsors will be on hand to provide advice for SMEs to find the most viable technology solutions for their needs. Exhibitors at the event will include a microcosm of the Maltese SME landscape.

DAte: 28th november, 2014 venue: hILton mALtA

trade queries and business opportunities, reviewing incoming EU legislation, and which will also actively participating in the Inter-Ministerial Family Business Act Committee which has been entrusted with the drafting of legislative documents. EU funding opportunities for SMEs was also an important subject being tackled during this summit, with expert speakers analysing the specific aspects of EU legislation. This event has been designed for people interested in starting new businesses or growing their existing businesses. Participants will gain rich insights, market intelligence and practical advice on how to optimise resources to build their businesses. Key Topics to be covered include: •

Cash-flow Management

•

New Business Development

•

People/Employee Management

Participants at the summit will be informed about the latest the SME develoments, workforce issues and operational matters and have the opportunity to interact directly with key government Ministers in an open floor Q&A.

•

Accessing Finance for Start-up and Expansion

•

Leveraging Social Media Platforms for business growth

•

Competitive Intelligence

Business owners from several leading SME organisations in Malta will be invited to take centre stage as speakers during the morning conference sessions and afternoon workshops designed as a crucial resource for senior business management and professionals working in small to mid-size businesses.

•

Developing Strategic Action Plans for your Small Businesses

This event hopes to establish also a Board or Commission which aims wholeheartedly to assist SMEs, with a special focus on micro enterprises, dedicated to providing assistance in challenges faced during start-up formation, improving access to funding,

Sponsorship and exhibition packages are being offered in varying formats to allow you to Select the most appropriate medium through which to realise your association with the event. However, if you don’t find what you are after, we may be able to tailor a package to suit your specific requirements, so please contact us should you wish to discuss this further. MBR For further information please contact Margaret Brincat on 9940 6743 / 9926 0162 or margaret@mbrpublications.net www.maltabusinessreview.net

economy

Malta Business Review

FITCH RATING AFFIRMATION OF MALTA’S ECONOMIC DIRECTION

“Fitch’s country rating for Malta, wherein it reaffirmed Malta at ‘A’ with a stable outlook, confirms the country’s economic growth as sustainable and geared to keep outperforming other EU states on GDP growth and employment,” said the Minister for Finance, Prof. Edward Scicluna

Welcoming Fitch’s country rating published on Friday 11th September, Prof. Edward Scicluna noted Fitch’s recognition that Malta’s robust economic growth continues to outperform the euro zone average, and is expected to keep doing so. Fitch observes that in 2013, “the economy grew by 2.9%, better than 2012 (1.1%) and higher than the euro zone average (negative 0.4%).” Fitch also recognises the positive impact of the reduction in electricity tariffs on consumption, stating that economic growth was mainly driven by domestic demand underpinned by the reduction in electricity tariffs. Scicluna also welcomed Fitch’s forecast that Malta’s economic growth will continue to outperform the euro zone, averaging at 2.5% in 2015-16. In its report, Fitch also recognises the success of the Government’s budget measures aimed at keeping unemployment contained by expanding the labour force through the make-work-pay principle, while also encouraging greater female participation. The credit rating agency remarks that, “at 5.7% in July, the unemployment rate is below both the ‘A’ median and the eurozone average, while the employment rate has risen, underpinned by the increasing female labour market participation rate.”

Fitch further observes that, “the decline in unemployment took place against the backdrop of a strong increase in the labour force.” With regard to public finances, Fitch notes that Government finances are on an improving trend, and recognises the Government’s success in bringing “the General Government Deficit (GGD) under control over the course of 2013 following significant fiscal slippage in 2012.” The credit rating agency further notes the Government’s success in reducing the deficit to below what was expected by Fitch at the time of the latest rating review, as the deficit-to-GDP ratio was projected by Fitch to decrease to 3 percent in 2013, while the Government reduced the deficit to 2.8 per cent. “Fitch projects the deficit to decline further to 2.5% of GDP in 2014 and 2015. Nevertheless, Government is confident that Malta will again exceed various international institution’s expectations with regard to the deficit-to-GDP ratio, and we remain committed to reducing the deficit to 2.1 per cent as targeted in the 2014 Budget,” Prof. Scicluna said. With regard to general Government gross debt, Fitch forecasts that it will decline gradually in the medium term to 70 per cent of GDP by 2020.

Fitch also notes how despite the pressure on public finances posed by the healthcare, social security and transport sectors, the credit rating agency does not expect these developments to compromise deficit reduction in 2014. Fitch furthermore recognises Government’s commitment to ensure fiscal sustainability through the adoption of the Fiscal Responsibility Act, underlining that the milestone adoption of the Fiscal Responsibility Act can have a positive effect in this regard. “Fitch’s rating report confirms that the country’s economic expansion is on a path which will continue to outperform on the basis of GDP growth and employment generation, while its public finances will similarly be expected to continue to improve over the coming years,” Prof. Scicluna said. “This result has been boosted by the Government’s budget measures aimed at strengthening economic growth, generating quality employment, and ensuring the sustainability of public finances. The Government is looking towards the coming budget as an opportunity to build upon these successes,” he said. MBR Courtesy: DOI www.maltabusinessreview.net

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TRANSPORT & LOGISTICS

TRIPARTITE MEETING BETWEEN MALTA, GREECE AND CYPRUS - SAFER SHIPPING AND CLEANER OCEANS ON TOP OF THE AGENDA

he vital need for safer shipping and cleaner oceans and the importance of international and regional cooperation to achieve that objective were the main priorities discussed between the Ministers responsible for shipping of Malta, Greece and Cyprus, during a tripartite meeting hosted in Malta by the Minister for Transport and Infrastructure Joe Mizzi. The meeting was attended by two Ministerial delegations, led by the Greek Minister Mr Miltiadis Varvitsiotis and Mr Marios Demetriades, Minister for Communications and Works of Cyprus respectively, both responsible for maritime affairs. This meeting followed two other similar meetings, one held in May 2013 in Greece and another one held in Cyprus last January, with the main scope of consolidating a common position on maritime affairs, which are of paramount importance to all the three countries.

Transport & Infrastructure Minister Joe Mizzi during the Press Conference

At the end of a press conference bring to an end the discussions held between the three countries, the Minister stated that being three countries with significant maritime interests in the European Union, Malta considers that it is of utmost importance

for Malta, Cyprus and Greece to continue strengthening their cooperation in order to ensure that their interests are adequately represented and taken into account when policy and legislation are being formulated at both UE and international level. MBR

Investments

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InvestMent RegIstRatIon scheMe extended By two Months The Ministry of Finance would like to announce that the Investment Registration Scheme is being extended by two months, until 30 November 2014. A Legal Notice to give effect to this extension will be issued shortly. The Investment Registration Scheme, which is administered by the Central Bank of Malta, provides individuals the opportunity to register undeclared assets, located both locally and abroad. Registration of assets will be done against a registration fee of 7.5% of the value of the asset, while a rate of 5% will apply in the case of assets abroad and which are repatriated. Eligible assets may be registered under the Scheme through the Appointed Registration Agents. These include banks, stockbrokers and investment services licence holders, and other licensed financial institutions. This decision for the extension of the Scheme has been taken on the basis of requests by the Appointed Registration Agents. A sizable number of applicants were finding that the three-month period was not sufficient for them to complete the necessary procedures.

The Maltese authorities have greater powers and tools to obtain information on undeclared assets abroad. The Government is determined to make full use of these tools to address tax evasion. Towards the end the Government launched the Investment Registration Scheme to invite for voluntary disclosures prior to the application of these tools and powers so as to allow individuals and companies the opportunity to regularise their tax position voluntarily. Further information on this MBR Scheme is available from the Central Bank of Malta and Registration Agents.

The Scheme was launched by the Ministry of Finance earlier in June 2014 in response to various recent changes in the global financial landscape, such as the EU Savings Directive, Malta’s FATCA with US, and other Tax Information Exchange Agreements with offshore centres.

MRs MIcheLLe MUscat attends FashIon 4 deveLoPMent In new yoRK the Sixty-Ninth Session of the United Nations General Assembly. The main objective of F4D is to rally support of First Ladies, Diplomats and fashion influencers, whose awareness and action is at the forefront of creating positive social change globally through the voice of fashion. Over the last four years, F4D has reached global recognition and has programmes in progress in 20 countries, working in support of the UN Millennium Development Goals to advance their agenda. These programmes focus to promote the fashion and textile industry, advance economic and social development activities as well as preserve culture and empower women. MBR

Mrs Michelle Muscat together with donna Karan, new york fashion designer; evie evangelou, founder of Fashion 4 development; and dorrit Moussaieff, First Lady of Iceland

Mrs Michelle Muscat, the spouse of the Prime Minister attended the 4th Annual Fashion 4 Development in New York. Uniting diplomacy and fashion for the greater good of women and children worldwide, Fashion 4 Development (F4D) coincided with

Fashion 4 Development (F4D) is a private sector, global organisation that supports the United Nations Millennium Development Goals and the UN’s “Every Woman, Every Child” Initiative, spearheaded by Secretary General, Ban Ki Moon. The mission is to harness the power of the fashion and beauty industries to implement creative strategies for sustainable economic growth, preservation of cultures, wellness and independence of communities worldwide. Its guiding principles are the 4E’s: Educate, Empower, Enhance and Enrich. The slogan of F4D is: “Giving Back is the New Luxury”. www.maltabusinessreview.net

T: 25595 201/209/215 E: sales@mcc.com.mt W: mcc.com.mt

MICE

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MaxiMising

the Full Potential

The Mediterranean Conference Centre is proactive in attracting new business to Malta through artistic performances, conferences and events. Malta Business Review catches up with Dr Kenneth Spiteri, Chairman of the MCC, who explans that MCC work closely with some of the leading hotels, the MTA (MICE) and other international organisations such as the Historic Conference Centres of Europe (HCCE)

MBR: What is your vision for MCC and what do you hope to accomplish? KS: My vision is to turn the MCC into a hub where creativity meets entrepreneurship. The architectural feats of this building provide an ideal backdrop for ideas to flourish. Since the year it was refurbished and inaugurated, on the 11th February 1979, the MCC has been awarded the coveted Europa Nostra Diploma of Merit for the “superb restoration of the Sacra Infermeria and its adaption for use as a conference centre.” We want to continue building on these accolades by catering for the increasing demands of this country. From an entrepreneurial standpoint, what characterises Malta is its permeability of change, that is the fast rate at which the country is adapting and welcoming new types of business – from vessel and aircraft registration to remote gaming, digital games and emerging legal, financial and related services. The MCC needs to cater for these emerging markets by offering suitable facilities that cater for the industry needs. Similarly, from an arts perspective, both visual and performance-based, the MCC needs to be equipped with the best facilities that the island can offer. MBR: What distinguishes MCC from other venues in Malta and can you highlight any changes? KS: The MCC has a reputation for offering quality service, since its very inception. Its location, adjacent to Fort St Elmo, overlooking the Grand Harbour, is one of the most imposing and enjoys breathtaking views. Work on this vast edifice started during late 1574 during the reign of Grand

Master Jean de la Cassiere (1572-82) and was extended several times over the years. The MCC’s main hall, measuring 155 metres in length, was in the past one of the largest in Europe and was described as “one of the grandest interiors in the world”. There are many halls and syndicate rooms available to suit the needs of most organisations and companies who rent out our spaces. We also have a unique banqueting hall being able to seat 1000 persons. MBR: What accounts for MCC’s popularity as a venue for MICE? KS: The fact that the venue is situated in Malta’s capital city, overlooking the pittoresque Grand Harbour as well as the fact that the MCC was built in 1574 to serve the public since its very inception, gives MCC the edge that few other venues can offer in the Euro-Mediterraean region, our main markets. MBR: Any plans for 2015 that you care to share about and what are the main events that you can reveal? KS: There are many plans being studied and discussed as we speak. WE plan, for instance, to turn an old, abandoned catering school, situated inside this majestic building, into a business hub for start-ups, small and medium enterprises. With so many companies relocating to our shores, the demand for offices is on the constant rise and we will be in a position to offer advantageous packages that include all the ancillaries a typical office would require - secretarial services, photocopying, strong wifi, water and power supply, cleaning and round-the-clock security services and more. There will be a plug-and-play approach,

where a start-up can start off by renting a small desk in an open plan and enjoy all the previously mentioned facilities on top of that. Then, should the company grow and employ more staff, it can hire more desks or adequate rooms. We also have a number of restoration plans that run into the six figures. MBR: What is your best business model for MCC? KS: We look at the MCC from a holistic perspective. What added value can the MCC provide to this country? How can the MCC best cater for the artistic, creative and entrepreneurial needs of the country? It is imperative to stay on the alert about the strengths, weaknesses, opportunities and threats that come with running this majestic venue. Parts of the surroundings of the MCC are currently being refurbished. This will add to the overall aesthetic experience when people visit the centre. MBR All Rights Reserved | Copyright 2014

EDITOR’S NOTE Kenneth Spiteri graduated as a Dental Surgeon in 1992, and practiced as a House Dental surgeon for two years at St. Luke’s Hospital. In 1993 he moved into private practice setting up a Dental Clinic in Naxxar. The following year he opened a second Dental Clinic in Zejtun, where he practises his profession to date. In 2001 Kenneth was elected Vice President of the Dental Association of Malta, and he was appointed Editor of ‘The Dental Probe’ – a Medical journal published by the Association. From 2003-2003 he served as President of the Dental association of Malta. Since 2013 Dr Spiteri was appointed non executive chairman of the Meditterranean conference centre. www.maltabusinessreview.net

Maleficent Mighty Heart By Fred Allen & Francesca Orsini / The Interview People for Malta Business Review

Angelina Jolie is proud of the choices she has made and who she is at this stage in life. And she knows when she goes to sleep at night that she has done things for the right reasons, that she has been the best mother and person she could be. If that translates in a way to be a role model, she has every reason to be happy. She admits that she wants to be a good role model, but she makes choices first for what she generally believes is right 26

ngelina Jolie has long been a woman on a mission. Whether it involves her decade-long humanitarian work on behalf of UNICEF or her devotion to the six children she and her partner Brad Pitt have been raising together, the gifted actress has shown extraordinary dedication.

“I’m deeply proud to have been able to tell the story of such an incredible man,” Jolie, 39, says. “Louis’s life is the very definition of everything you hope to discover about the human spirit. It’s ironic that shortly after I came across his story I found out that he lived only a few minutes away from my house (in L.A.) and we were practically neighbours for all these years.”

Now she’s embracing what she expects will be the second act in her film career - directing. Having gained confidence from her first experience behind the camera - In the Land of Blood and Honey (2011)- Jolie has recently been back with her new film, UNBROKEN, a moving account of the life of U.S. Olympian and WWII hero Louis Zamperini who survived two years of torture and near-starvation as a Japanese POW.

Sadly, Zamperini passed away on July 2nd at age 97 after a six week battle with pneumonia. Though his death was heartbreaking for Jolie (“It’s a loss impossible to describe”), she takes some solace in the fact that she was able to show the war veteran a first cut of her film while he was in hospital. “I’m so glad that I was able to show Louis how I tried to honour his life. Those moments I got to spend with him that day and

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show him scenes of how his life had unfolded were something I will cherish forever.” Based on Laura Hillenbrand’s 2010 best-seller, Unbroken stars Jack O’Connell (300: Rise of an Empire, Skins) as Zamperini, and the British actor needed to drop 30 lbs to reflect his character’s emaciated state during several key scenes which take place in the POW camp. In the meantime, Jolie signed a deal with Universal Pictures (which is also distributing Unbroken) to distribute By The Sea, a relationship drama which has been written and directed by her, and has notably found her starring in the film opposite her real-life partner, Brad Pitt. The project marks the first time that the couple will be appearing the same film since Mr and Mrs Smith (2005), the film that brought them together, on and off the screen. Jolie and Pitt arrived from Nice, where they were on holiday, and immediately went to Gozo where the filming is taking place at Mgarr ix-Xini. The small bay and a large area of the surrounding countryside have been closed off till early November and a film set has been built. Brad and Angie spend most of the year living in their sprawling Los Angeles estate together with their children Maddox, Pax, Zahara, Shiloh and twins Knox and Vivienne. The family also enjoys spending time on their fabulous 500 acre estate on the French Cote d’Azur, Chateau Miraval, where they find it easier to escape the paparazzi and the constant attention that comes with being the world’s most famous couple. MBR: Angelina, what do you hope that audiences will learn or feel after seeing your last film, Unbroken? JOLIE: I would like people to appreciate what an extraordinary man Louis Zamperini was and what his courage and determination can teach all of us. It’s almost unimaginable how he survived the plane crashes and shark attacks, and 47 days at sea and, having lived through all that, experienced the worst possible prison camp conditions. His story shows you that the human will is a remarkable thing and how incredibly brave and resilient he was. When I had a chance to get to know him, he taught me so much about hope and being grateful for so much in life and simply being able to take time to enjoy every day of your life. I’m drawn to people who are able to surmount a lot of obstacles and go on to achieve many things. Louis was a remarkable and heroic man in so many respects. MBR: Was it almost surreal when you discovered that Louis Zamperini had been living in a house that was just a few minutes away from yours in L.A.? JOLIE: Louis and I both laughed so much when we found out how closed we lived to each other and how we could each see each other’s

Angelina Jolie on her visit with Syrian refugee families at Hal Far

houses if he went on his balcony and I would go up on my roof! (Laughs) Sometimes things are meant to me, I suppose, and I really enjoyed getting close to him and getting to appreciate a man of his time who fought in WWII. There are fewer and fewer people left from his generation and we need to make sure that their voices are still heard before they’re no longer with us an longer. I never really had any grandparents to talk to and I felt something very special being around him and being able to understand what a man of his time thought about the world and service to one’s country and family. In his day, people felt a deeper attachment to ideas about our place in society and our responsibility to each other. It was very interesting to discover his perspective on all that. I wanted to portray all those events in his life as faithfully as possible and it was very gratifying for me to see him nodding and watching him as he looked at the scenes.

There are fewer and fewer people left from his generation and we need to make sure that their voices are still heard before they’re no longer with us an longer MBR: What has shaped your moral compass? JOLIE: I had a really wonderful mother, who was really very loving and kind. She never wanted for herself, she was very conscious and giving. Kindness was her gift. She taught me a lot. She is part native American, so I was very aware. I got sent to the principal’s office for arguing about Christopher Columbus. So I was aware of it, but it didn’t completely change me. What changed then when I grew up and

started travelling – I went to Cambodia and learned more about the war in Cambodia. And then I started to question how much I didn’t know, how much I wasn’t taught in school. The war in Sierra Leone was going on at the time. So I started to try to read more. I just had this moment of what else don’t know. I got lots of books on all what was happening around the world and came across pictures from the Rwandan genocide and refugees and the refugee situation. Then I started travellingI went to Sierra Leone and then my life was completely changed. MBR: A lot of organisations must be asking for your support. How do you pick the ones you work with? JOLIE: I chose UNHCR because I believe refugees are the most vulnerable people in the world, and inside a refugee camp you have so many aspects of trauma and humanitarian needs. You have children in need of education, you have women who have been raped, you have people who have cancer or leukemia. And all the reasons they have fled are different. Within this I have learned a lot about many different aspects of what the needs are in the world, But I believe you have to give your voice to someone who has no voice, not just join voices where there are many. And I felt that refugees are not being covered in the way they should be and given the respect they should. So I felt I could be useful and I stayed committed to them. And during that time I have worked on children’s education because I have met children with needs and seen too many children out of school. And I started working with William Hague on sexual violence in conflict, because I have met too many women who been raped in conflict. I have been aware of many injustices. Recently in Bosnia I met a woman who goes to the grocery store and she sees the man who rapes her every day. There is no justice for her. She carries the shame, not him. These things have to change. You can’t do everything, but there are certain things….. cont pg 29 www.maltabusinessreview.net

80 Exhibitors 2 Conferences 10 Networking Socials 50 World Class Speakers Low Admission Fee. Free for AďŹ&#x192;liates

Summit of iGaming, Malta 30 Oct-2 Nov.

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You have children in need of education, you have women who have been raped, you have people who have cancer or leukemia... My children are used to travelling and being in Gozo was a huge adventure for them

MBR: One of the recurrent themes of Disney films in youth. What is your attitude about ageing? Do you as a mother feel more comfortable in your skin than in your 20’s. JOLIE: Everybody that gets older feels more comfortable. I love getting older, I love being a mom, I feel more a woman the older I get and then I learn more. So I feel more evolved. MBR: Do you sometimes get tired of the whole, Brad-Angelina’ thing? Do you sometimes think ‘people, please, I am a person’? JOLIE: In my life and in my work I am a person. And when I am on set especially when I am directing, I am Angie and am working, and I am mom and a friend. People in the press made it seem like I live in a certain kind of world and I walk certain ways. But that’s not the life I have made for myself and the people I surround myself with. It’s not a regular life, I understand that, it’s an unusual life, but I know how regular I am. MBR: You’re all about promoting peace and understanding. How do you feel about taking part in massive battle scenes in Unbroken? JOLIE: One, it’s with imaginary fairy creatures (chuckles). There is no blood and everybody runs off the field, because it’s a kid’s movie. When you see the movie you realise they are really protecting their land. We were actually on the right side of justice on that fight, me and my fairies.

MBR: Can you drop a hint on what kind of movie ‘By The Sea’ is? JOLIE: It’s not a big movie, it’s not an action movie. It’s the kind of movie we love but aren’t often cast in. It’s a very experimental, independent-type film where we get to be actors together and be really raw, open, try things. MBR: How did your children handle life in Gozo? JOLIE: They are used to travelling and being in Gozo was a huge adventure for them. They did a lot of flying back and forth so they could spend time with each of us and also depending on how much work we were doing at different points. My children are used to travelling and being in Gozo was a huge adventure for them. But we have help with the children and we can manage very well as compared to many couples or single parents who have to struggle with financial responsibilities and finding the time to be with their kids. I also get to spend a lot of time with my children when I’m not working and I would rather just stay at home with them. Even while I’ve been shooting (By The Sea) I was able to make sure that they would eat lunch with me and I would be home for dinner and bedtime. I’m very grateful to be able to work when I want to and try to be as good a mother to my children as I can be. Louis (Zamperini) would always tell me to take time to appreciate all those moments with my children! MBR Layout & Design by Jessica Camilleri All Rights Reserved | Copyright 2014

EDITOR’S NOTE Angelina Jolie is an Oscar-winning actress who has become popular by taking on the title role in the “Lara Croft” series of blockbuster movies. Off-screen, Jolie has become prominently involved in international charity projects, especially those involving refugees. She often appears on many “most beautiful women” lists, and she has a personal life that is avidly covered by the tabloid press. Jolie is currently shooting ‘By The Sea’ at Mgarr ix-Xini Gozo, together with her husband Brad Pitt.

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SiGma: a PRO-iGaminG, PRO EntERPRiSE SUmmit tHiS FaLL That the iGaming industry has a trickle-down effect on the Maltese economy is beyond any question. In fact, a large number of C-level executives and DMUs from iGaming companies, but also lawyers, accountants, bank managers and other executives that offer ancillary services to this industry will be participating as delegates in the forthcoming SiGMASummit of iGaming Malta at the Bay Arena Intercontinental Malta between the 30th October and 2nd November. MBR: Eman, Dennis great to catch up, what drove you to create the Summit of iGaming in Malta, and can you give our readers more insight into the conference and its underlining context? EP: It’s no news that Malta is fast becoming the ‘silicon valley’ of the iGaming industry. This little island is home to some 300 gaming companies, 500 gaming licenses, with a strong 9,000 workforce directly employed in iGaming. The country is also houses the Lotteries and Gaming Authority, what`s arguably the leading remote gaming jurisdiction worldwide. Taking all this into consideration, it was only a matter of time to host a summit that showcases the vibrant industry in Malta to the rest of the world. From affiliates and operators through to regulators and vendors, the spotlight is on Malta. MBR: As SIGMA summit organisers where does Malta stand in today’s iGaming arc? What key factors challenge its future growth and value and how will these factors be discussed at SIGMA? EP: This is a very hot topic and the launch of SiGMA could not happen at a more pertinent moment for the iGaming industry. On behalf of the Maltese government, Honourable Jose Herrera, Parliamentary Secretary responsible for iGaming, is currently lobbying with the rest 30

of the EU member states to ensure that the European spirit of free movement and a free market, values on which the European Union is built, remain intact.

5. The news that the Gaming Academy, the Responsible Gaming Foundation as well as Gaming Malta are being set up by the government augurs well for the industry.

Looking at where Malta stands from a holistic point of view, SIGMA beliefs are that Malta has become the natural host for gaming entrepreneurs, with so much to offer, including:

MBR: You have worked closely with the Maltese Government with regards to the context of the show. How have they helped you as organisers and what competencies do they wish to showcase with regards to Malta’s business infrastructure?

1. An industrious, multilingual workforce with a Nordic work ethic. The recent economic crisis, for instance, From affiliates and hit most southern European operators through states, but not Malta.

EP: Yes, the government, more than ever before, feels it is the right time to showcase Malta to regulators and the iGaming industry by 2. An unrivalled quality of and vendors, the providing an annual platform life, weather and leisure opportunities, as well as a safe where legislators, C-level spotlight is on environment where young executives, affiliates and Malta families have the peace of mind operators can meet and do they require to raise children. business. To this extent we have been able to invite some of the world’s 3. A solid jurisdiction, optimal tax benefits and most experienced speakers in the industry as a supportive government with an ‘open door well as super affiliates who are sure to generate policy’. Malta Enterprise (Digital Games), the some interest amongst the many operators LGA, the Malta Tourism Authority, the Malta Financial Services Authority: they all work in exhibiting. the same direction to ensure that brand Malta MBR: You seem to have lined up a stellar cast stays on top of the game. of Keynote speakers; can you tell us more 4. The remote gaming community based in Malta is intensive, thus creating endless networking and recruiting opportunities.

about these conference headliners? Also as a team what do you look at when selecting your keynote speakers?

iGaminG EvEnt

EP: These are our three cherries on the cake: three conferences that are sure to quench anyone’s appetite. We left no stone unturned, with conference one focusing on remote gaming global regulation, the legal landscape, best practices in operations and marketing and the convergence between interactive and landbased gaming. The second conference will be focused on remote gaming acquisition and will feature SEO professionals, latest e-marketing techniques, industry trends, affiliate, social media marketing tactics and more. We have secured some of the world`s best speakers, including the likes of Nick Nocton (Russel Green Law, UK), Joseph Cuschieri (Gaming Authority, Malta), as well as directors and C-level executives from Amaya, NetEnt, EveryMatrix, XLMedia, LeoVegas and much more to share their insights in a number of presentations and panel discussions. MBR: SIGMA has placed a significant emphasis on marketing and player acquisition, why did you choose this topic as headline content. What new marketing trends and themes will be discussed at the summit? EP: Player acquisition is what ultimately keeps the industy afloat. By understanding that each player has a unique set of attributes, companies can better retain existing players and attract new first time deposits. Glocalisation, to use Thomas Friedman’s term, has become quintessential in the remote gaming industry. Maximising the data available about each player, without burning out is important more than ever before. Furthermore, what characterises today’s industry is the permeability of change, i.e. the fast rate with which new products, updates and ideas are being unleashed into the market. With Google shifting its algorithm goalposts once more, for instance, SEO and affiliate specialists must keep a watchful eye on their daily exercises. All this and much, much more will be tackled at all of the three conferences. MBR: Finally what do you want delegates to take away from the SIGMA summit? EP: We want delegates to network and establish potential business leads. We want the international community to understand better what Malta has to offer. Today, thanks also to the LGA, we have created a community of like-minded people where business concepts and ideas flourish. All the ingredients are there: the timing, the facilities, the summit, the networking events.... We’re looking forward to cut the proverbial ribbon this October and make sure that everyone walks out with better connections and business leads. MBR Mr Pulis is responsible for SiGMA, the i-gaming summit, taking place in Malta between October 31 & November 2. Eman Pulis is the CEO at Viking PC Health Ltd. www.maltaigamingsummit.com All Rights Reserved | Copyright 2014

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“As we are the largest gaming company in Malta, it is natural for us to participate in SiGMA in order to promote Malta as a great place to work and live for skilled internet professionals”. - Ulrik Bengtsson, CEO, Betsson

“Going digital is no longer an option; it is a necessity. We have launched the Digital Malta Strategy with a determination to keep pushing frontiers and to create the right environment for digital enterprise. Events like these give us the opportunity to show case what we have achieved and where we want to be in the next years”. - Hon. Dr. Chris Cardona, Minister for the Economy

“I thank the organizers of this summit because it really is an initiative of prestige. Thanks also to the LGA for sustaining this initiative because such events promote Malta as an innovative country in the iGaming sector”. - Hon. Dr. Jose Herrera, Parliamentary Secretary for Competitiveness and Economic Growth

“SiGMA is an excellent networking and knowledge sharing opportunity for local gaming operators, service providers and other industry players seeking to operate in or from Malta. I believe that events like SiGMA can showcase Malta’s unique attributes and strengthen our position as a world class gaming jurisdiction”. - Mr. Joseph Cuschieri, Executive Chairman LGA

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Our Aim is to offer our clients the best, freshest possible ingredients, prepared with unique flair by our team of dedicated chefs and presented through familiar delights and signature dishes. Situated on the seafront, with its enviable location and views, this is acharming venue to spend precious quality time, be it with your friendsand family or your business colleagues.

For Reservations: Web: www.cardini.com.mt email: info@cardini.com.mt Mob: 7933 2324 Tel: 2133 2324

We also offer FREE PARKING to our clients at the CCCP Sliema multi-storey carpark.

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NORBERT’S SECOND SINGLE FIND A WAY LAUNCHED WITH UNIQUE VIDEO Norbert’s ‘Find a Way’ video was launched on Wednesday 17 September at a reception attended by nearly 200 fans and media people, held at Don Berto Restaurant in Vittoriosa

orbert delighted the audience with a versatile set of cover versions and his own songs accompanied by Jason Xuereb on piano, before introducing the video to his second official single ‘Find a Way’. The singer explained that the video, produced and filmed by WE Media Ltd, was a first for Malta as filming was carried out using one continuous shot from beginning to end, with no breaks or cutaways at any point. No one had ever produced a video using this tricky technique before in the Maltese islands and extensive rehearsals were required before the final cut was approved by the director. The technique gives the video a fresh look and allows Norbert to really bring across the emotion he puts into his vocal performance, an emotion that has already seen him receive acclaim and build up a steady following. After thanking the video’s producers, in particular well-known TV personality Angie Laus, and his vocal coach Joshua Alamu, Norbert went on to express his satisfaction with the production.

“I feel the video, especially the dancing performed by Deedee Clark and Raphael Pace, really captures the spirit of the song,” he explained. “I wrote ‘Find a Way’ with my producer Ramzi of RDS Studios, as an anthem for all those people who face difficulties in life. I include myself in that category. But like the song says, if we believe in ourselves and keep persevering we will find a way to move forward and get through any difficulties,” he added to warm applause from the audience. Norbert described his second single as having a special blend of five different styles: pop, soul, rock, indie and dance. He also announced his intention to release an EP in the future. The video was then screened to acclaim from the audience present.You can watch the video on Norbert’s Youtube Channel click here: www.youtube.com/ watch?v=BE2RwvR2TZE. More details or interview requests can be made via e-mail: nbondin@ gmail.com or by calling 7941 7671 or 9945 9511. MBR biography

Despite his young age, Norbert Bondin is steadily paving his way towards a professional musical career one step at a time. Having fostered a fondness for music and singing from a very young age, Norbert’s first break came after winning a ‘Teen Singing Challenge’ that was aired as part of local TV weekly programme Sas-Sitta on Net TV. His mesmerising rendition of the popular song ‘Cinque Giorni’ was merely an indicator of his outstanding talent. In addition, Norbert also placed second in another television singing contest titled ‘Don’t Stop Me Now’, which was aired weekly on Net TV. Following

this success, Norbert continued to gain popularity through his participation in various musical festivals, both in Malta as well as in Italy. It has been noted by music critics that Nobert’s strength lies in his versatility, enabling him to switch from ballads to pop or RnB tracks during live performances effortlessly. In the past, Norbert has also had the opportunity to hone his musical and vocal skills by attending an Artist Intensive Course at St Mary’s College in Hollywood. Here he was afforded the unique opportunity to work and collaborate with internationally renowned artists Daniel and Natasha

Bedingfield, as well as international YouTube celebrity Nick Pitera. Norbert’s first single ‘Feel Again’, which was entirely produced and recorded in the UK, received extensive airplay from Maltese radio stations, leading to Norbert being subsequently nominated for ‘Best New Artist’ in the Malta Music Awards 2014 where he delivered a powerful live interpretation of this single. Norbert has once again worked with his UK-based producer to produce a second single, called ‘Find a Way’, launched in September 2014 and for which a professional music video has been shot.

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special feature: mta

Adding VAlue

by George Carol

In a special focus on MTA, the Malta Business Review conducted an interview with Dr Gavin Gulia, who took over as MTA chairman over a year ago. He is working hard so that our country is perceived as a destination of choice based on our core values of heritage, hospitality and diversity

MBR: How do you enhance overall tourism while preserving the environment and the heritage of Malta? GG: One has to strive to achieve the perfect balance based on the principle of sustainability: that is, the use of resources in a way which allows for their further utilisation by future generations. The environment and heritage comprise the very elements which make Malta attractive to tourists. Therefore we need to preserve them if we are to retain our competitive edge. MBR: How you would like Malta to be perceived internationally? GG: I would like it to be perceived as a destination of choice based on our core values of heritage, hospitality and diversity.

MBR: Taking over the helm at MTA was by no means easy and a bit contentiousIn what ways does the new position challenge you? GG: Tourism is a very vibrant industry and requires one to be constantly aware of developments internationally and domestically. This is what I find most challenging about my role. The MTA is an excellent organisation which it is my honour to lead. MBR: Where are your key markets and how do you see the evolution of the relationship with Airmalta? GG: Malta’s key markets comprise a selection of core and secondary source markets, mostly from within Europe but some from much further afield. We are constantly re-evaluating the mix of geographical and motivational markets to retain maximum competitiveness. Air Malta is a very important component of our overall tourism strategies as it carries around one half of our tourists, and, more importantly, remains flying all year round to support our efforts in minimising seasonality. 36

MBR: What have been Malta’s touristic performance during past year and what will the 2014 Budget will mean for the sector?

GG: I have full faith that the budget will include additional measures aimed at further improving tourism competitiveness. Government has already proved its commitment to the industry in a wide number of ways because it believes that the sector has the potential to contribute further to Malta’s economic development in line with national targets. MBR: What do you hope to achieve during your mandate for the Maltese tourism sector and what are your goals? GG: The major objective of my contribution is to steer MTA in achieving its broad objectives and targets of strengthening the product and service elements of Malta’s tourism offer whilst simultaneously engaging in successful marketing activities aimed at strengthening the destination’s image in its source markets. MBR: Current strategy focuses on specific segments such as accessible tourism, youth tourism, and a marketing campaign in targeted countries. Which tourism sectors are currently strong, and which need to be further developed and how are you looking to do this?

GG: Over the past year, Malta has once again managed to over-perform global GG: Malta is a well established destination and regional growth trends and all is set in a number of segments such as leisure for another good year of positive results tourism, scuba diving, English-language for our tourism learning and of industry. Government course conference I have no doubt that continues to show its and incentive travel. strong commitment to Substantial quantities the forthcoming budget the industry and I have of tourists also visit will contain additional no doubt that the for our unique history measures aimed at forthcoming budget and culture while further strengthening will contain additional smaller volumes measures aimed at the sector’s are attracted by our further strengthening sports and active competitiveness the sector’s tourism attractions, competitiveness the possibility to and its capability host weddings and to contribute to economic growth and honeymoons, gaming and cruise and stay. employment generation. We need to strengthen our image as a MBR: MHRA always urges government to short-break city-destination and I expect take measures to return the hotel industry that a lot will be achieved in this respect to profitability and increase winter through the build-up the V18 Valletta arrivals. Will the forthcoming budget European Capital of Culture year-round achieve this? event. cont pg 48

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Malta Business Review

Continuous improvement by George Carol

Paul Bugeja, Chief Executive Officer of Malta Tourism Authority apportions success in the tourism sector with to three key factors- increasing the ratio of returned guests, reduce seasonality and penetrate new segments and new markets

MBR: Is it more challenging to lead an organization like MTA when the tourism industry is an industry under undergoing continuous intense transformation and how do you intend to position MTA to stay relevant in this changing market? PB: Surely the challenge is bigger when there is a continuous transformation, rather when consolidating. In transformation one needs to keep continuously checking the impact of the changes on all stakeholders. At times take risky decisions that would lead to unchartered waters. The best way is to listen to all stakeholders and continually bridge the gaps between different needs. Our employees at MTA play an integral and a very important part in this process. MBR: Can you define MTA’s mission? PB: Our existence and hence our mission is simply there to focus on serving our clients, be it tourists that intend visiting us, those that actually visit us, local or foreign operators, owners and license holders.

MBR: How would you appraise the tourism sector and which are the main priorities for the MTA? PB: The tourism sector is critical to our economy as it generates up to 30% of our national GDP. Overall we have a good product and visitors are generally happy once they leave. But it is crucial that we keep striving in improving and innovate in all aspects. Keep on building on our strengths and insist on getting support from all stakeholders, and especially from all other Government entities. Tourism and Product Malta does not belong to the Ministry nor to MTA, but belongs to and affects us all. We need to work on the seasonality factor, improve the product and the services on offer and support the industry with all possible means available to become more sustainable. MBR All Rights Reserved | Copyright 2014

MBR: Is what Malta offers understood globally and is the MTA brand positioned as it should be? PB: There is always more that one can do in ensuring that a message is shared with the whole world. In today’s fast and changing world, one can never sit back. Whilst the challenge is big we have different tools that would help in the process. We have various initiatives in place with different messages going out to several segments. Ideally we should have a common message that could transcend across all countries and all segments. For example, should we build all messages focused on our size, easy accessibility to all venues and places of interest, the sheer volume of varied activities and events that can be organized in Malta within such a small area? Shall we send the message through all segments that one cannot lose your way in Malta (due to size) but can lose your way in deciding what to do? Or should our Mediterranean, genuine hospitality be the one single message that we would send across to all ? Project Vision 2030 should address this. MBR: Are you concerned that a reliance on technology will interfere with the personal relationship that is the hallmark of good hospitality? PB: I don’t think so, and in reality it can only be positive. One main reason is that this industry thrives on the personal relationships and experiences. As long as there are human beings in existence, the desire of the human species of meeting and being with others will continue to exist; human beings are intrinsically explorers and would always pursue innovative experiences. Besides this aspect, travel is a multi sensory experience and technology cannot offer this, but technology can and is helping in exploring where best to find these experiences. Technology is one of the best tools we have in hand that will enable us share Malta’s well known hospitality with the world. MBR: How does the tourism sector in Malta vary from the ones in countries like Egypt and Turkey? What are our competitive advantages? PB: The fact that in a 300 square kilometer one can find so much history, culture, entertainment, water, sky and land activities is definitely one of our strengths compared to these counties. The issue of safety and political stability plays an important part, together with the fact that everyone can speak and communicate in English.

EDITOR’S NOTE Paul Bugeja has been a member of the Corinthia team for the past 35 years. Since joining the Corinthia Group in 1979, Mr Bugeja has worked in various locations and taken up senior posts in management and finance within corporate office and the operations division. In 1992 Mr Bugeja formed the group internal audit department and was appointed as its first Director, a position he held for 4 years. Mr Bugeja has been involved in all of Corinthia’s major local and international developments, including pre-openings in more than 14 countries over the past 17 years. In recent years he was appointed as Director in the Group’s Hotel Monitoring Board. He obtained his CPA warrant in 1989 after acquiring the UK-FCCA and the Malta FIA certification. He subsequently obtained FOH (HCIMA) fellow status.

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special feature: mta

A GlobAl TourisT DesTinATion by George Carol

The Malta Business Review met with Tony Coleiro to get some feedback on his impressions on why we need to be more aware of what is happening in the hospitality and catering Industry. Tony maintains that the legislations exists, however, we it is paramount that we need to implement the required programs to conform with legislation prior to enforcement.

This unit does not limit its actions to enforcing the regulations, but coaches and helps the industry to achieve a higher standard than is required by the law. Being in constant contact with the industry, the officers of the unit act as a bridge between the industry and other units within the Malta Tourism Authority, Health, Lands, Trade Departments and Police Authorities.

BR: How would you define your position as Chairman of the Enforcement with MTA? What is the exact title, scope of the role and who does it report to? TC: One year passed since I have been appointment Chairman of the Malta Tourism Authority Enforcement Board by the former Minister Hon. Karmenu Vella, after which it was endorsed by the present Minister Hon Dr. Edward Zammit Lewis, when he took over the Ministry for Tourism. This is the Directorates that is regulated by Article 40 of The Malta Travel and Tourism Services Act (Chapter 409), which states that “The Authority shall monitor and review all tourism operations to ensure that tourism operations are carried out only in accordance with the provisions of this Act and in compliance with 38

Obviously, as Chairman of the Enforcement Directorate Board, I report directly to the Minister for Tourism, Hon. Dr. Edward Zammit Lewis LL.D., MP and to the Chairman of the Malta Tourism Authority Dr. Gavin Gulia LL.D.

the decisions lawfully taken under MBR: Apart from your vast experience why else this Act; and for the purposes of do you think you were selected for the role? such monitoring and review, the TC: A very Interesting question, Chairperson of which is difficult to answer. I the Enforcement think that the vast experience Directorate or any We also need to assist is important to be entrusted person authorised and help the industry for such appointments. As by him to that to implement the law, you have said apart from effect shall have the vast experience, I think the right at which after all it’s all that my involvement in the all reasonable about standards and Tourism Industry, the various times to enter behaviours International and inspect any tourism operation, Institutions with which I am other than a actively involved with, and tourist guide.” This Article dictates which are all linked to the Hospitality, Travel and the primary role of the Enforcement Tourism Industry, notwithstanding the years I have Unit, that is, to monitor the tourism served on the Malta Tourism Authority Main Board industry to ensure that what is being during the previous Government, could have also offered is up to standard. This is been one of the considerations by the present achieved through regular inspections Government for my appointment. However, I think of tourism operations, to check that that the trust supersedes all other reasons for my appointment. these comply with legal standards.

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MBR: Can you give us some ideas how you will go about fulfilling the responsibilities? TC: I think that one of the most important factors are that the Enforcement Directorate will continue to work as a team and I believe that although we are there to enforce the law, we also need to assist and help the industry to implement the law, which after all it’s all about standards and behaviours. I believe that the good team that the Directorate has, we can do a great job jointly and with the assistance of the other Directorates within the Malta Tourism Authority. MBR: Do you have some specific personal targets and objectives to attain in the role? TC: For sure I would like to give more attention to the human resource element of the Directorate but academically; I have already introduced various training opportunities to our Enforcement team in Hospitality, Travel and Tourism. In fact we are planning specific programmes jointly with Institute of Tourism Studies and the University of Malta. The more we invest in our Human Resources, the more efficient and professional service we can give to the Industry. Another target which I need to work upon with my colleague Directors on the Enforcement Board jointly with the whole team of the Enforcement Directorate is the implementation of a Food Safety Management Section and an Occupational Health & Safety Section within the Directorate itself. MBR: Tony you are a long time IoH member, and FIH and past chairman, are there connections that can be made with the IoH and your new role? TC: We have to establish a common platform with the Institute of Hospitality and other Institutions; I believe that all IOH professionals can assist the Enforcement Directorate in many ways, amongst everything, academically. MBR: Tony you are also an International Ambassador for IoH Europe. Tell our readers how that came about and what that role is focused upon? TC: Well this role came by surprise about four years ago with a term of office of one year but they have extended my appointment since then. As you are aware the primary purpose of the Institute of Hospitality is to promote the highest professional standards of management and education in the international hospitality, leisure and tourism industries. There are currently eight International Ambassadors who play a vital role in promoting the Institute of Hospitality worldwide, representing Africa – South, Asia, Australia

Malta Business Review

and Oceania, Middle East, Caribbean and South America, North America, Southern Europe / Mediterranean and Europe which I am responsible for. Ambassadors provide a point of contact for anyone wanting to know more about the Institute and are always pleased to hear from members in their region, play a very important role and direct liaison with National Tourism Organisations, Tourism and Hospitality Groups, professional bodies and trade entities. Institute of Hospitality’s Ambassadors represent the Institute at functions, conferences and events and are helping to increase Institute of Hospitality membership and accreditation of educational programmes in their region, management qualifications, as well as supporting honorary representatives to form new International Groups.

Ambassadors provide a point of contact for anyone wanting to know more about the Institute and are always pleased to hear from members in their region

MBR: As a hotelier and business man what are the most important factors that needs to be addressed in order to enhance Malta’s position as a major tourist destination? TC: I can assure you that, the Malta Tourism Authority is doing everything possible to promote the Islands of Malta and Gozo. Statistics are showing increase on increase. MTA has and continues to introduce schemes for the industry which helps them to improve not only standards but also helps directly the industry to market their products abroad. Obviously, one needs to do more but, I am sure that under the direction of the newly appointed Minister for Tourism Hon. Dr. Edward Zammit Lewis, who has continued with great success from his predecessor, I must say that he is a positive and energetic Minister, with a clear vision for the way forward for the Tourism Industry, not to mention the continuous efforts made by Dr. Gavin Gulia Chairman of the MTA and his colleague Directors on the main Board of the Authority jointly with the newly appointed CEO Mr. Paul Bugeja who has vast experience in the sector. I think that all this is an important factor to get right to further Malta’s position as a global tourist Destination. MBR All Rights Reserved | Copyright 2014

EDITOR’S NOTE Tony Coleiro is a Chartered Consultant by profession, holding a Master Degree in Business Administration. He started his management carrier back in 1979 as Deputy General Manager of the Gozo Channel Co. Ltd., cargo and passenger shipping company until 1987. Subsequently, he occupied the post of General Manager & CEO with various Hotels, Tour Operating and Creative Business Consulting Companies. Tony managed three and four Star Hotels as well Time Sharing Resorts in Malta and Gozo, varying from 65 luxury Apartments to 1000 hotel rooms’ bed capacity. Tony’s business activity includes the following: - Partner – TC-Consult & Associates – Malta; amongst other Directorship with various local and foreign Companies. He acted as a Managing Consultant with various Hotels in Malta and Gozo, and other related companies within

the Tourism and Leisure Industry. Appointed also as Tourism Ambassador – Institute of Hospitality – Europe; Chairman for the Institute of Travel & Tourism – Malta Chapter; Gozo Business Chamber (Tourism Directorate) – Gozo . Amongst other international accreditations Tony is a Fellow of the - Institute of Sales & Marketing Management Association; Institute of Hospitality; Association of Tourism & Hospitality Executives, The Institute of Travel & Tourism. July 2008, for three consecutive years, he was appointed Director on the Main Board of the Malta Tourism Authority by former Prime Minister - Honourable Dr. Lawrence Gonzi KUOM., LL.D., MP, June 2013, Tony was appointed Chairman of the Malta Tourism Authority Enforcement Board. February 2014, he was appointed as Minister’s Consultant for the Gozo Channel Co. Ltd., by the Minister for Gozo - Hon. Dr. Anton Refalo LL.D. M.P. Honoured to be a Knight Commander of the Byzantine Order of the Holy Sepulchre, and the Grand Commandery of the Military & Hospitaller of St. Lazarus of Jerusalem. www.maltabusinessreview.net

EU fUnds

Malta Business Review

InItIatIve to help localItIes MaxIMIse eU fUnds A new initiative to help localities maximise EU funds will shortly be announced, Parliamentary Secretary for Local Government Stefan Buontempo said during the Green Public Procurement and Smart City Support in the Energy Sector (GRASP) seminar today

hon. prof. e. scicluna

GRASP is a Med programme funded by national funding agencies, participating entities, and the European Commission through the European Regional Development Fund (ERDF). It is a 27-month project with a budget of €2.234.991. The project kicked-off amongst the participating partners in May of 2013. He explained that local councils tend to go for tenders with the cheapest capital cost, however turn out cost more in the long run. He stressed that environmentally friendly measures are high on the agenda.

Bernard Mallia - president IRIss

hon. dr. Buontempo

hon. leo Brincat

audience

Environment Minister Leo Brincat, also present at the GRASP conference, during his keynote speech stressed the importance of Green Public Procurement (GPP), explaining its usefulness as a tool geared at raising “our buying standards in a manner that can enhance our environmental standards while stimulating sustainable economic growth”. This will help counter environmental and health problems whilst minimising threats to economic growth, he said. “In its electoral programme, government pledged that all those tenders and public contracts that promote clean technology and prove to be environmentally friendly should be given due recognition,” he said. He stressed that whilst some believe that GPP could prove to be a hindrance for Malta’s economic development, in actual fact can transform and lead markets into a growth territory. “In supporting the development of competitive green goods and services we will be enlarging the market for them while encouraging innovation further”. “By addressing such factors as energy and water consumption, use of recyclable materials etc. GPP can help deliver cost savings across a number of products and service groups. MBR

panel - Bernard Mallia, leo Brincat, daniel Grima, Branica xuereb

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entertainment

Malta Business Review

InspIratIon and dIstInctIon by Martin Vella

It is always inspiring to see more artists come onto the local music scene! As the well-known, established musicians of today get older, we have to have the next generation of musicians ready to take on the rigors of travel, study, and performance. It is a challenging life; but when one has passion for music performance, all else takes a back seat. I met Thea Saliba, TV personality, lawyer-to-be, piano concertist and musician. While I was unable to attend her latest performances, I wanted to meet her, and talk about fashion, her music and her career. Thea turned out to be delightful person- frank, confident, excellent communicator and with a strong sense of her professional direction.

MBR: You recently collaborated with Impel Communications, to produce ELLEtv. How did this come about? TS: Yes, Impel Communications a new entertainment company specialising in TV programmes, had contacted me some few months ago, asking me whether I would like to be the new host for ElleTv and I am so very excited to be part of the team and to be presenting this entertainment TV programme. MBR: What can you tell me about ELLEtv? TS: ElleTv is mainly a fashion programme which revolves around a womanâ&#x20AC;&#x2122;s world. In each programme I will be accompanied by a protagonist and together we will be visiting our team of experts, including our professional hairstylist and makeup artist, a clothes shop, a shoe shop and also a jewellery shop in order to dress up our protagonist according to the theme of that particular programme. We will be having a variety of interesting themes which us ladies will encounter in our daily lives, such as a formal lunch, a first date and many more, wherein our team will be giving tips on how one can prepare for such occasions. The programme will also consist of short educational features including nail care and fitness. MBR: How involved did you get in the design and production of the programme? TS: Apart from hosting the programme, I am also part of the production. Iâ&#x20AC;&#x2122;m a perfectionist, so being part of the production team will enable me to voice my opinions and ideas and to be hands-on, with an aim of delivering the best product possible. cont pg 64

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INTERVENTION BY THE PRIME MINISTER DR JOSEPH MUSCAT AT THE UNITED NATIONS CLIMATE CHANGE SUMMIT IN NEW YORK, 23.09.2014 Photos – DOI – Omar Camilleri At the United Nations General Assembly Hall, New York.

Prime Minister Joseph Muscat during the start of the general debate of the 69th session of the United Nations General Assembly.

climate change

Your Excellencies, Secretary General, Honourable Prime Ministers, Honourable Ministers, Fellow Colleagues I feel particularly honoured to participate at this historical Summit on Climate Change. I would like to start by thanking the Secretary General for his commitment to climate action, which we all recall was already evident in his inaugural speech. We are profoundly grateful to him for providing us with a much needed opportunity to increase political momentum and support the ongoing international process for a new legally binding Climate Agreement in 2015. Malta has always been on the forefront in advocating climate action. This legacy is proudly engrained in the history of our nation, particularly this year as we celebrate our nation’s fiftieth year of independence. When Malta alerted the International community at the 43rd session of the UN General Assembly on the need to address the warnings on human-induced climate change by the scientific community, it was because we believed, that our nation, despite its minute size, has to transform the circumstances that may work against us as the very raison d’etre for taking up new initiatives and responsibilities in the international community of States. Our resilience as a nation depends on what kind of “added-value” we can give in this new geopolitical world order of the twenty first century. We need to transform words into action and as a member of the European Union, Malta is proud to be a part of climate action, legally committed at a multilateral, European and domestic level to reduce emissions of greenhouse gases in order to mitigate climate change. Malta’s determination to switch to a low carbon economy is characterised by a vision, based on the long-term,

socio-economic, and environmental benefits of greenhouse gas emissions reduction. Malta has had to overcome significant challenges to meet its greenhouse gas objectives within the EU, but we remain committed to forge ahead and to identify any possible opportunities that aim for further reductions. Like other EU Member States we have experienced the decoupling of economic and emissions growth. Since 1990 to date, our GDP has grown by 260%, yet our GHG emissions per unit GDP have decreased by 55%. Efforts in thE EnErgy sEctor For its part, Malta’s opportunities emerging within the Energy Sector are being fully capitalized. As the energy generation sector is by far Malta’s highest contributor to national GHG emissions, these measures are expected to domestically lead to around a 40% GHG reduction compared to 1990 levels in Malta’s energy sector carbon footprint by 2020 and beyond. Malta’s National Energy Efficiency Action Plan and the National Renewable Energy Action Plan outline the drive to increase energy efficiency, particularly from an end-use perspective, and the promotion of renewable energy sources as the major steps that had to be taken. Malta is also undertaking commitments in its mitigation and adaptation policies through the drafting of a Climate Action Act to ensure that legal measures for all sectors will be under pinned to set up the required institutional capacity to monitor, review and verify our reduction targets and adaptation measures, secure better climate governance and ensure the necessary forward planning.

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Malta is proud to announce that as part of its climate finance commitment, it will be offering technical support as capacity building to States most vulnerable to climate change. It will do so by: -

Offering nationals from these States, scholarships in undergraduate/ postgraduate studies related to climate action at the University of Malta; and

Providing assistance and training at a policy making, vocational and institutional level.

Malta aims to outreach developing States even by providing the necessary linkages with: Our aim is to become an energy hub in the Mediterranean region; by exploiting the possibilities of renewable energy across borders and the island’s potential as a gas supply hub with a link to gas fields in North Africa to Europe. Another important event that Malta will host in 2015 is the Commonwealth Heads of Government Meeting. The meeting in Malta will serve as another opportunity for Commonwealth colleagues to continue to discuss these global issues ahead of our next major international appointment to discuss important Climate matters. In conclusion, given Malta’s minute size, our economies of scale, a population density that is amongst the highest in the world, as well as our peripheral geophysical position, our determination to address greenhouse gas emissions and reduce them drastically within the EU’s Joint Fulfillment objectives, have met with innumerable challenges.

climatE financE

In our endeavours, however we have definitely experienced that the benefits of a low carbon economy far outweigh the negatives.

As an EU Member State, Malta remains committed to the efforts that the EU undertakes in its contributions to climate action to financially and technically support developing countries through the EU budget and the mobilization of the Green Climate Fund.

In the end, it is ensuring the wellbeing of our people that is at stake and greenhouse gas reduction definitely marks a step in this direction. It also consolidates our commitment, notwithstanding our small size, to address a global challenge that is a common concern of humankind. MBR

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ad Mario Drag

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European Ce

Malta Business Review

Draghi: Euro recovery Losing Momentum by Special Correspondent

European Central Bank head Mario Draghi defended the bank’s new stimulus programs as he warned that the weak economic recovery in the eurozone “is losing momentum.”

raghi told members of the European parliament Monday there was no sign yet of a halt to the sharp decline in economic indicators seen in August. The 18 countries that use the euro saw no economic growth at all in the second quarter — an alarming signal after only four quarters of weak growth. “The economic recovery in the euro area is losing momentum,” Draghi said during a regular testimony before the parliament’s committee on economic and monetary affairs. He said risks for the economy were “to the downside.” The eurozone is slowly healing from troubles over high debt that began in 2009 and led to Greece, Ireland, Portugal, Cyprus and Spain needing bailout loans from other eurozone governments and the International Monetary Fund. Government spending cutbacks have held back growth and boosted unemployment, which is falling only slowly. Draghi said the recovery was being threatened by geopolitical disturbances — which would include the conflict between Ukraine and Russia, although he did not mention the countries by name — and by failure of euro member governments to reform their economies and make them more efficient. He defended the bank’s most recent stimulus program, an offer of cheap, long-term loans to banks tied to their lending to companies. Banks took only 82.6 billion euros at the first offering Sept. 18, less than many market analysts had expected. Draghi said the offering was “within the range of takeup values we had expected.” He cautioned that the September loan offering, taken up by 255 banks, needed to be assessed together with the next one scheduled for December. The amount of cheap credit a bank can get from the ECB under the program depends on how much it loans to companies. The September and December offerings will hand out money based

on how much banks loaned to companies before April 30; the amount available in offerings after that will be based on lending practices going forward. The ECB is preparing another stimulus program, in which it will buy bonds backed by bank loans to companies and home buyers — also an attempt to get credit flowing.

The idea is that lenders will bundle more such bonds if they know there is a ready buyer with unlimited cash, such as the ECB

The ECB has said buying the bonds — called “asset-backed securities” because they are backed by assets such as loans that are being repaid — will stimulate the market for such bonds. The market fell off sharply after the more complex kinds of such securities were blamed for the sub-prime mortgage crisis in the United States. Draghi said the purchases, slated to start in October, would have an added impact because the ABS market was “severely impaired.” The idea is that lenders will bundle more such bonds if they know there is a ready buyer with unlimited cash, such as the ECB. The ECB would limit its risk of losses by only buying the simpler and more highly rated versions of such bonds. It will buy lower-rated versions only if there is a government guarantee of repayment. The ECB is trying to boost its balance sheet — one measure of its total stimulus efforts — by 1 trillion euros. It has not ruled out further stimulus — such as large-scale buying of government or corporate bonds, also called quantitative easing. Inflation is currently only an annual 0.4 percent, a sign of weakness and well below the bank’s goal of just under 2 percent. MBR www.maltabusinessreview.net

Malta Business Review

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MBR: What other potential markets that you are looking at attracting and in what ways are you promoting Malta in these countries? GG: Tourism is constantly evolving and so are people’s travel interests. Travellers today do not visit a destination for a single reason but for a combination of factors. We need not only to look for new potential markets but also to ensure that our offer continues to be in line with what tourists want to find in a destination. MBR: Gozo is often mentioned as an eco-tourism destination– do you see sustainable tourism as the model for Malta going forward, especially in eco-blu marine sector, or do you see more scope with sports and leisure tourism? GG: The secret is to have a mix of offers in which no single component becomes too huge to the detriment of others. This is based on the principle of diversification which ensures that the overall industry continues to thrive even if specific sectors go through a bad patch of performance. We need to use all our different offers in a sustainable manner and ensure that our islands attract tourism all year round by offering a mix of experiences which change during the course of the year. MBR: 2013 was a record entry for the Rolex Middle Sea Race, with 99 yachts competing from all over the world, and approximately 1000 sailors taking part. Counting support staff, media, competitors’ friends and family, well over a thousand people visit Malta as a direct result of the Rolex Middle Sea Race. Wouldn’t it be natural that government

changes direction and markets Malta as a racing destination for yachts, also for football training during shadow months and as well as try to entice more sporting events to be held here, such as golf tournaments, swimming, horseracing, skydiving, etc? GG: We are already achieving a lot in terms of utilising our varied offer as a destination for various types of sports and activity tourism. Some areas are more successful than others and we have to realise that we have capacity issues which preclude us from expanding certain sporting activities into the tourism sphere without putting pressure on the local use for which they are primarily intended. Such activities are all positive and contribute not only economically but also in terms of enhancing the good name of Malta as a country and tourism destination. MBR All Rights Reserved | Copyright 2014

EDITOR’S NOTE Dr Gulia studied at the De La Salle College and then furthered his studies at the University of Malta from which he graduated as a Notary in 1988 and as a Lawyer in 1989. In November 1995 he was approved as a candidate for the Malta Labour Party. Dr Gulia contested successfully the general elections of 1996, 1998, 2003. In 1998 he was appointed Minister of Justice. In 2008 he was re-elected. Besides politics, Dr Gulia is also the Honorary President of the Zebbug Rangers Football Club. He was appointed chairman of the Malta Tourism Authority in May 2013.

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20 years of commitment

Malta

towards our community! w w w.jci.org.mt 48

Economic & Social

Malta Business Review

20 years of JCI In Malta: EmpowEring Young pEoplE

by Jonathan J. Borg

Junior Chamber International (JCI) is a worldwide community of young people who share the belief that in order to create lasting positive change, we must improve ourselves and the world around us

early 200,000 active citizens around the globe aged 18 to 40 are taking the opportunity to create positive change through JCI by being active JCI members. By way of activities ranging from local development to international initiatives, JCI members are empowered to improve themselves and the communities they live in, through participation, leadership and action. JCI Malta was founded in 1994 when a group of fresh graduates from University wanted to provide a platform where young people can develop into the leaders of tomorrow. It was thanks to the power of networking that the group got to know about Junior Chamber International and JCI Malta was officially established. To truly celebrate its 20th anniversary, JCI Malta has this year hosted the JCI European Conference, a major JCI event held over five days, which has attracted over 1,300 JCI members from all over the world. During the Conference, members

got the chance to network extensively with other members and attend various personal development training courses. JCI Malta also organises the monthly members’ meetings, trainings and workshops and business events such as Business Networking Events and The Best Business Plan competition which now is in it’s 13th edition. Every year, the Best Business Plan competition awards a cash prize to the best start-up business idea. Jonathan Xuereb, a new JCI Malta member, explained to us how he got introduced to JCI. He said, “It was the Best Business Plan competition that I got introduced to JCI. Having had just moved back to Malta earlier this year after a work experience abroad, I was looking to get inspired to do something completely different, to get active in my community. A good friend recommended JCI and I have been involved ever since. JCI gave me the opportunity to volunteer at the Conference and lately I have been writing news articles on behalf of JCI as well”.

JCI believes young people are the leaders of tomorrow who will pave the way to a future where we can all Be Better, hence the JCI Malta slogan: Be Better, which stands to show that JCI members not only believe that improvement is possible, but that it is their responsibility to initiate positive change. JCI is constantly reaching out to young people who want to create positive change within themselves and their community. Throughout the coming months, JCI shall be striving to reach out to even more young people so if you have an idea worth sharing, a solution to a problem or you just want to contribute, JCI is there to give you that little push you might need, the right network where to thrive or that positive inspiration to take a stand and start achieving. The first step to unleashing your potential is simple and is yours to take; so get in touch with JCI Malta now. MBR Twitter: @jcimalta | Facebook (page): JCI Malta Email: info@jci.org.mt | Web: www.jci.org.mt www.maltabusinessreview.net

Project PROJECT Launch LAUNCH

Malta Business Review

HE The president President of Malta Marie Louise Coleiro Coleire Preca

he THE PRESIDENT HE MARIE LOUISE COLEIRO PRECA LAUNCHES THE ETHNOBOTANICAL HUB FOR RESEARCH

President Marie Louise Coleiro Preca launched the Foundation’s calendar of activities for the first three months, October to December. The Foundation has planned its activities on an ongoing three month basis, with the October-to-December events as initial activities prepared by the Entities and Fora. They are geared to engage individuals, to initiate conversations, foster consultation, and to begin the practical work of the Foundation. Many of the activities which are scheduled to take place are grounded in dialogue; thematic conversations that shall inform me about the concerns of our society and help me direct the Foundation’s research work.

Last June, HE the President of the Republic of Malta Marie Louise Coleiro Preca launched the President’s Foundation for the Wellbeing of Society. The Foundation comes in response to the responsibilities entrusted to her as President of Malta, to stand and safeguard the wellbeing of our Islands and their inhabitant

At the Foundation’s inception, one project proposed was focused on ethnobotanical research and gardens, as a multi-disciplinary field of learning about the relationship between people and the use of plants in culture and heritage, alongside the multidimensionality of human-plant interactions. The President also launched The President’s Hub for Ethnobotanical Research. Through the Hub she seeks to specifically look at people’s wellbeing, intertwined with the relationships and interconnection of our urban and natural environments. The Hub wants to especially valorize the most simple human interaction with plants, and focus on how this interaction can enhance the wellbeing of people and our environment itself. It will also seek out and listen to traditions, folk wisdom and early practices in relation to the use of wild and domestic plants in the Maltese way of life, at risk of being lost. want to engage with

those who are living in Malta and were not born here, to listen to their stories, and learn from their traditions. The Foundation wants to know if they are familiar with the plants they find in Malta, and if they miss any plants from their own home countries, hoping that this initiative shall grow into a collaboration that goes beyond the Presidential Palaces, hence the word “Hub.” The President wanted to offer this platform and facilitate dialogue to inspire other initiatives that can be incubated within the Palaces and then planted in our communities, as a response to the needs and creative projects of the communities themselves. The Hub, in the coming months, will be initiating trans-cultural and inter-faith roundtables around the use of the garden, both as a utilitarian space and as a metaphor fertile with profound spiritual and theological meaning. It will also initiate a farmers’ and architects’ roundtable for conversations which are more practical, focusing on the here-and-now of our basic needs, of food and shelter, without ignoring the spiritual dimension of human life and all creation. The scope of each and every activity within the Foundation is to explore, inspire and contribute to the wellbeing of all individuals living on these islands, and of our communities as a whole. This is only the beginning, and my wish is not simply for the flourishing of these activities within the Foundation itself, but that they may serve as an inspiration to others. The President said, “May wellbeing mark our identity as a country, and become rooted in our culture and relationships.” MBR Source: DOI www.maltabusinessreview.net

Malta Business Review

EntrEprEnEurship

entrePreneurshIP

-a lIfe chanGInG exPerIence by Michelle Gialanze and Louis Naudi

‘What’s the worst that can happen?’ When said sarcastically, it’s telegraphing a disaster. When said more seriously, it’s an open invitation for the world to go to hell in a handbasket. Murphy’s law is an adage or epigram that is typically stated as: Anything that can go wrong will go wrong. Michelle Gialanze and Prof Louis Naudi probe and give us their own piece of advice.

(Part 2) 75% of new start-ups will fail within 6 years and the majority of these will do so after 18-24 months. Despite what almost every business plan forecasts, only around 6% of businesses continuously increase their sales over that period. Most grow until year 3 and then flatten. But within that overall pattern there is often huge volatility in sales. ‘What’s the worst that can happen? It all goes wrong and you have to start again’ every failure can also be a new beginning This creates early growth spurts which increase the business’ credibility and attractiveness to investors. In the USA, the message is that failure is not an end in itself but an essential part of the learning process. There needs to be a less negative reaction to failure and to understand that lessons learned from “failing” can be lifeenhancing and the drive behind a successful second attempts or more. No matter your age or standing, there is potential to turn a passion or skill from your professional or social life into a bright business idea. Running your own business can be both exhilarating and nerve racking; the rush, sense of freedom and independence, the sleepless nights, absence of holidays is nothing like working for some one else; take it from someone who has started 5 successful businesses! There are three good reasons why you should consider starting a business today: Low start-up costs – most businesses can now start on a small outlay. With a smart phone and

business card, you can set up operations with ease and from home. Technology – social media platforms and trading sites offer start-ups a powerful route to market. Selling and promoting yourself online is affordable and achievable and successful businesses are being built on Face book and promoted via Twitter and YouTube. Business support – when starting a business, there is an abundance of public and private sector support to help you start and grow, including– assisting with essentials like workspace, guidance, marketing and finance. (What are these in Malta?) The following will help you in your desire to start your own business, to narrow down and identify what you want to do, what needs to be taken into consideration to minimise risks and obvious pitfalls in starting a new venture and, hopefully, be one of those that succeed.

sectIon 2-where do I start and what should I do? Sources of Business Ideas To get started in business, some will have a clear view of the area in which they wish to trade whereas others will not. Entrepreneurial activities differ substantially depending on the type of business, creativity involved and in scale of project. Activity ranges from major undertakings tofreelancing

EntrEprEnEurship

Malta Business Review

think again. The key is to come up with a business concept that is relevant in today’s market to meet customers’ needs. The majority of successful new businesses are based on existing ideas, products or services with maybe a tweak or improvement in the offering, thereby creating its appeal in the current market.

examIne Your own skIll set Look at all your historical experiences. You will have developed specific skills in your career, have a particular talent or a proven track record and these may provide the basis for a business. In addition, you should think about the different companies and market sectors that you have worked in. Some will have been more interesting and enjoyable than others. More than likely, you will have excelled in those elements of the businesses that you found most interesting and enjoyable.

We live in a world where people are prepared, even in times of recession, to pay for perceived added value

and contracting, franchising, buying a business, green & social businesses, home-based, on line, even part time or low cost whilst you do other things and want to see customer response develops. Brainstorming Activity- The Hunt for Opportunity-Is this a good section? Not happy with it!

Do not confine your thinking to those experiences you have had at work, though. Think about the skills you have developed outside of work too. In particular, what do you most enjoy doing when you are not working and what would you ideally love to spend more time doing? It could be sports related, voluntary work or just a hobby, but importantly this pastime could involve additional skills. Creating a business that focuses on a hobby can create a very satisfying future job. Would customers be willing to pay for that?

Address a series of questions which will act as a filter such as

Pick a domain where you have some experience and expertise. Don’t handicap yourself by starting something for which you have to build or acquire knowledge, skills and connections from scratch. No business plan will save you if you are just picking ideas at random or copying others, just because the story sounds attractive

1. Have you tried to buy something that you just can’t find? Could others be looking for the same thing? If so, this may present a market opportunity.

what’s GoInG to work?

Ideas

2. Have you ever wondered ‘why doesn’t a particular product exist?’ or ‘why isn’t a particular service available? Focus on a particular target group or market and brainstorm what they might be interested in. If you have friends or family in this grouping, ask them. 3. Many people are turning what they love into a way of making a living. Best of all, when you work on what you enjoy doing it never really feels like work! Are you a dab hand at DIY? Have an eye for photography? A head for figures? These skills and hobbies can easily be turned into a business If your dreams of running your own business are frustrated by the notion that you have to come up with a brilliant new idea,

Once you have documented your past, you can think about your experience in the context of what is happening right now. Look for areas of growth in the economy for instant inspiration. Look for businesses that are succeeding and explore if there is room for you. We live in a world where people are prepared, even in times of recession, to pay for perceived added value. Similarly, look around for changes and opportunities that are being thrown up in the current economic climate. Is a particular market now being inadequately served? Staying abreast of local press, business publications and trade organisations may suggest some possibilities. The publication of insolvency notices including winding up petitions and orders and details of the appointment of administrators and liquidators can be an avenue to consider. MBR EDITOR’S NOTE

Louis Naudi is an Honorary Professor who spent over 30 years of his business life working in SMEs in the Uk., observing their behaviour and also in designing, developing and implementing customer led business support processes for the Department of Trade and Industry. He is also a Fellow of the Chartered Institute of Marketing in Malta.

Dr Michelle Gialanze has extensive experience within the field of education both locally and internationally. Her professional studies have included the way people change their practices when taking on board new skills. She is a consultant in education. She has been instrumental in the recent setting up of MCAST’s Entrepreneurship Centre.

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(Part 2) Organised by the Royal Malta Yacht Club, the 2014 Rolex Middle Sea Race will start on the 18th October in the spectacular Grand Harbour opposite the Saluting Battery in Valletta,Malta.

he 606-mile yacht race takes place in the heart of the Mediterraneanand covers one of the most beautiful courses in the world. Starting and finishing inMalta, the route includes the deep azure waters around Sicily including the Aeolian and Egadi Islands, as well as Pantelleria and Lampedusa. One of the most stunning vistas is Stromboli, the active volcano which is a course mark. Last year, a record 99 yachts took part and with less than two month to the start of the 35th edition, 69 yachts have already entered from 17 different nations. “The entry level so far is very encouraging, we expect to have about the same number as last year but the club would love to see the entry list past the 100 mark for the first time, since the first edition of the race in 1968.” commented Godwin Zammit, Commodore of the Royal Malta Yacht Club. “The quality of the entrants seems to be going up every year, amongst them we have sailors from all over the world; world champions, top professionals, as well as corinthian sailors. The Rolex Middle Sea Race is the highlight of the year for the Royal Malta Yacht Club and all of the competitors will be made very welcome at our clubhouse during the event.”

The Line Honours favourite for the Rolex Middle Sea Race is Igor Simcic’s Maxi, Esimit Europa 2, skippered by by multiple Olympic and America’s Cup winner, Jochen Schümann. The 100ft canting keel maxi has taken line honour victories in the years from 2010 – 2012, becoming only the second yacht in the history of the Rolex Middle Sea Race to take it three times in a row. Last year, Esimit Europa 2 damaged their mast on the way to the race and was unable to compete but the Slovenian yacht, with a world class international crew is returning with the goal of taking Line Honours for an unprecedented fourth occasion. The battle for the overall win after time correction is already developing into a fascinating competition. Niklas Zennström’s Team Rán have won numerous blue ribbon offshore events and world championships but an overall win in the Rolex Middle Sea Race, has eluded them on three separate occasions. Niklas Zennström’s latest Mini Maxi, Rán 5 will be competing in October and their immediate rivals on the water will include Roberto Tomasini Grinover’s Mini Maxi Robertissima. Several other world class Mini Maxis are also expected to be competing.

Rolex Middle Sea Race

A Cookson 50 has won the Rolex Sydney Hobart, Rolex Fastnet Race and the RORC Caribbean 600 but the canting keel flier has yet to win the Rolex Middle Sea Race overall. This year, three Italian Cookson 50s will attempt to change that statistic. Guido Paolo Gamucci’s Clippa Lippa and Germana Tognella’s Cantankerous have raced before but Vincenzo Onorato’s Mascalzone Latino will be making their first appearance with Volvo Ocean Race winner, Jules Salter on board as navigator. Three of the fastest yachts in this race should have a fascinating battle on the water. This August, Jens Kellinghusen’s German Ker 51, Varuna was the overall winner of 2014 Sevenstar Round Britain and Ireland Race and class winner for the 2013 Rolex Sydney Hobart. Varuna is being shipped toMaltaespecially for the Rolex Middle Sea Race, Round the world yachtsman, Guilermo Atadil will be navigating the German entry. Jascha Bach and Toni Guiu, Spanish TP 52 Balleria is en route from Barcelona, hoping to emulate last year’s overall winner, TP52, B2. German Carkeek 47, BlackPearlwill be making its debut at the Rolex Middle Sea Race. Skippered by Stefan Jentzsch, the all carbon flyer will have a stella crew including, Marc Lagesse, James Carroll, Peter van Niekerk and Luke Molloy. Royal Malta Yacht Club member, Finis Pit will be racing his German Ker 53, Dralion with just two crew, already six yachts will be racing in the IRC Double Handed class including race veteran, Beppe Bisotto who will be racing his Venetian Fast 42, Atame.

Malta Business Review

Six majestic Swans will also be taking part this year, including Grey Goose of RORC sailed by Tobias Koenig. Swan 65. Franck Petitgas’s Swan 65, Rebel Jaguar, will be skippered by Eddie Craighill. Dmitriy Samohin, President of the Russian Dragon Class will be racing Swan 60, Petite Flamme with Olympic andAmerica’s Cup helmsman, Andy Beadsworth as part of the crew.Monaco’s Paul Basson will be racing his elegant Swan 46, Foreign Affair Two Handed. James McGarry’s Scottish Swan 45, Eala of Rhu will be sailing toMaltahaving competed in the Swan 45 World Championship inSardinia. Chris Frost’s elegant Swan 36, Finola was launched in 1968, the fourth Swan ever built is still very competitive, having won class at the 2013 Swan European Championship, winning every race. The Rolex Middle Sea Race attracts a variety of yachts including timeless classics such as the classic yawls, Tomahawk and Stormy Weather. Tomahawk was designed by Sparkman & Stephens as an ocean racer in 1938 and was sympathetically rebuilt to her original design by the present owner, Jamie Abdy Collins. Stormy Weather of Cowes was designed by Olin Stephens in 1934. In 1935 she won both the Newport-Bergen Transatlantic race and the Fastnet race. Stormy Weather has been owned by Christopher Spray, from theUK, for the past nine years.Tarquin Place, fromTasmaniais the boat captain. MBR Entry for the Rolex Middle Sea Race closes on October 3rd 2014. Courtesy: Rolex Middle Sea Race

HISTORY

the Race Director of the Royal Ocean Racing Club), set out to map a course designed to offer an exciting race in different conditions to those prevailing in Maltese coastal waters. They also decided the course would be slightly longer than the RORC’s longest race, the Fastnet. The resulting course is the same as used today. The Middle Sea Race was conceived as the result of sporting rivalry between great friends, Paul and John Ripard and an Englishman residing in Malta called Jimmy White, all members of the Royal Malta Yacht Club. In the early fifties, it was mainly British servicemen stationed in Malta who competitively raced. Even the boats had a military connection,

since they were old German training boats captured by the British during the war. At the time, the RMYC only had a few Maltese members, amongst who were Paul and John Ripard.

Ted Turner (USA) - today CEO of Turner Communications, (CNN) - has written that the Middle Sea Race “must be the most beautiful race course in the world. What other event has an active volcano as a mark of the course?”

So it was in the early sixties that Paul and Jimmy, together with a mutual friend, Alan Green (later to become

For more information about the race and the Royal Malta Yacht Club go to: www.rolexmiddlesearace.com

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Digital Economy

Malta Business Review

The Hon Minister Chris Cardona posing for the souvenir photo

MALTA WELCOMES THE DRAFT DECLARATION ON THE DIGITAL ECONOMY AND AGREES WITH ITS ADOPTION – MINISTER CHRIS CARDONA The Minister for the Economy, Investment and Small Business, Dr Chris Cardona, attended the Union for the Mediterranean Ministerial Meeting on the Digital Economy where he spoke about Malta’s position and declared that Malta welcomes the Draft Declaration presented to the Ministers responsible for ICT and the Digital Economy

inister Chris Cardona said that Malta agrees that a shared commitment to the Digital Economy needs to be made and that we must recognize that we are living in a Digital era which is continuously evolving. “We must ensure that we recognize the importance of the Digital Economy as a tool for social and economic development and a creator of growth and jobs on boths sides of the Mediterranean”, said Minister Cardona. Dr Cardona held that Malta agrees with the actions proposed in the Declaration in the areas of Digital Economy and Internet Governance as well as on the mechanisms to implement these actions. As regards the development of ICT solutions, Minister

Cardona held that this is essential to address the economic and societal challenges that we are facing. “Such solutions should ideally not be developed unilaterally, but need to be accompanied by an exchange of good practices, at bilateral and regional levels, as well as developing interoperability solutions. Ongoing initiatives in the Mediterranean should be encouraged and supported in order to reap the benefits of the current boost in the EuroMediterranean region”. On the subject of Internet Governance, Minister Cardona said that Malta believes that governments, policymakers and regulators have a key stake and role in achieving their vision for an open, fully

inclusive and reliable internet. Minister Cardona said that all relevant factors need to be considered in a democratic and transparent process towards a more strengthened multi-stakeholder model for internet Governance. “This is the only way we can preserve the internet as a fast engine for innovation to continue to spur economic and social development”, reiterated Minister Cardona. In conclusion, Minister Chris Cardona said that Malta therefore agrees with the adoption of the Draft Declaration on the Digital Economy. France, Spain, Turkey, Greece, Tunisia, Israel, Italy, Lebanon, Palestine and Portugal, were also amongst the countries that intervened during the meeting. MBR www.maltabusinessreview.net

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ReseaRch & Development

Malta Business Review

Extra ErC funding to tEst markEt potEntial of 50 rEsEarCh projECts Developing therapies for children with congenital heart defects, monitoring water quality in realtime, improving the nutritional qualities of potatoes or making the best informed choices when buying a new house. These are some of the issues to be tackled by 50 outstanding scientists who are receiving ‘Proof-of-Concept’ grants of up to €150,000 each from the European Research Council (ERC). This ‘top-up’ funding is designed to help researchers who already hold an ERC grant, to test the market potential of their frontier research

ith a very limited part of the ERC budget, the ‘Proof of Concept’ scheme can help ERC grant holders unleash considerable innovation potential. The grant covers costs related to activities such as establishing intellectual property rights, investigating commercial and business opportunities (e.g. setting up a start-up) or technical validation (e.g. carrying out clinical tests). ERC President Jean-Pierre Bourguignon commented: “The ERC ‘Proof of Concept’ scheme makes it possible for ERC grant winners to get some extra support to investigate the innovation potential of their good ideas.” He added: “More ERC grant winners apply for this call every year, which is a remarkable trend. It means that they see how their frontier research can be pushed beyond its initial frame and how their results can also be translated into marketable products and

services. For them, this opens the way to a broader impact on society.” A total of 182 proposals were submitted to the first round of this call, and the success rate is around 28%. Grants are being awarded to researchers based in 12 EU and associated countries in the European Research Area. This call’s overall budget is €15 million, of which half is earmarked for supporting projects in the first round of the competition. The second and final round of the ERC ‘Proof-of-Concept’ call 2014 is currently open to ERC grant holders and the deadline for applications is 1 October 2014. For 2015, the ERC Scientific Council has decided to increase the ‘Proof-of-Concept’ call’s overall budget to up to €20 million. erc-press@ec.europa.eu Website: http://erc.europa.eu EDITOR’S NOTE

Set up in 2007 by the EU, the European Research Council (ERC) is the first pan-European funding organisation for frontier research. It aims to stimulate scientific excellence in Europe by encouraging competition for funding between the very best, creative researchers of any nationality and age. The ERC also strives to attract top researchers from anywhere in the world to come to Europe. From 2007 to 2013 under the seventh EU Research Framework Programme (FP7), the ERC’s budget was €7.5 billion. Under the new EU research programme (2014-2020), Horizon 2020, the ERC has a substantially increased budget of over €13 billion. Since its launch, the ERC has

funded over 4,500 researchers. The ERC consists of an independent Scientific Council and an Executive Agency. The Scientific Council, the ERC’s governing body, is composed of 22 distinguished scientists and scholars, including the ERC President. They define the scientific funding strategy and methodologies, and act on behalf of the scientific community in Europe to promote creativity and innovative research. Prof. Jean-Pierre Bourguignon has been the ERC President since 1 January 2014. The ERC Executive Agency implements the ERC component of Horizon 2020 and is led by Director Pablo Amor.

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health

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INDEX 2014

he Department of Health has taken note of the specific recommendations addressed to Malta and acknowledges the gaps in prevention and management of diabetes that have been highlighted in this report. Indeed it acknowledges that initiatives to improve the management of diabetes have been lacking over the last 10 years. It is only this year that the Department of Health established a Steering Group with the remit to draw up a national strategy for diabetes. Over the past two months, a needs analysis has been carried out through a number of expert focus groups and the strategic plan is currently being drafted. Several areas that will require substantial investment in human and material resources have been identified in order to bring about improvement in prevention and management of diabetes. Towards the end of this year a National Diabetes Strategy will be launched for consultation. This exercise will also take into account the feedback and discussion that was carried out by the Diabetes Parliamentary Group earlier this year. In terms of the EDI report, it is important first and foremost to acknowledge the major improvement in diabetes related mortality registered by Malta since 2006 where the SDR for diabetes has gone down from 24.3 to 6.97. As an overall recommendation, the report emphasises the need for the creation of a national diabetes register since lack of available data for certain indicators has affected Malta’s overall performance. The Index contains a number of sub measures and Malta’s performance varied for the different areas investigated.

PREvENtION Malta’s performance in this area is classified as poor because of the high prevalence of obesity and the low number of hours of physical activity in schools. The Department of health acknowledges that obesity is a major issue in Malta and has been working to tackle it through a number of initiatives such as the Healthy Weight for Life Strategy, the recent development of the Food and Nutrition Policy and Action Plan, the Breastfeeding Policy, as well as plans of a Nutrition and Food Consumption survey to be carried out next year. Government is also working on an updated national sports policy.

CAsE fINDINg Setting up a registry for persons with Diabetes is a goal of the new diabetes strategy, which will also deal with setting up a system for screening for diabetes. Screening for gestational Diabetes is already being carried out for all prospective mothers. This was however not recorded as a good system by the Index since the records are paper-based.

RANgE AND REACh Of sERvICEs All services mentioned are already provided and figures obtained from the POYC database illustrate that Malta has a good rate of metformin deployment.

ACCEss tO tREAtmENt/CARE The Department of Health acknowledges that more remains to be done in this area. Last week the number of daily test strips for children was increased to four per day. Further improvements will be recommended as part of the strategy and these shortcomings will be addressed in a systematic manner since investment in competent and trained human resources will need to precede the deployment of innovative modalities to ensure that these can be rolled out safely.

Malta Business Review

The European Diabetes Index (EDI) 2014 released earlier today was conducted by the Health Consumer Powerhouse (HCP), to provide a comparison of diabetes management in Europe. Whilst acknowledging the “impressive improvements” achieved, the EDI classified Malta in the 26th place out of 30 countries.

PROCEDUREs Whilst data for this section is not routinely available, the Department of Health carried out an ad hoc data collection exercise and was able to supply most of the data for this section. The outcome shows that more needs to be achieved and systematic monitoring with reporting of data by both the public and private sectors is necessary for the monitoring of the overall performance of our health care system in monitoring persons with diabetes.

OUtCOmEs Unfortunately the long term absence of a diabetes register does not allow us to measure key outcomes accurately. The data available continues to strengthen the Department of Health’s conviction that the quality of care offered to persons with diabetes needs to be recorded in a systematic manner. This company usually consults the official governmental bodies on their chosen indicators prior to the release of this report. Corrections have been suggested by the Department of Health where erroneous data was reported or where data had been previously listed an unavailable. However where the HCP used standard data from sources such as IMS data for pharmaceuticals, our figure for metformin consumption which is one of the highest per capita in Europe was not included. Given that the lack of availability of data scores as poorly as a negative outcome, this may have slightly affected the overall score. After a number of years of inactivity, the Department of Health is now spearheading developments and improvements in the area of diabetes; in fact, the national strategy for diabetes currently under development will include measures to reduce the incidence of diabetes, diagnose diabetes earlier, and reduce or delay the onset of complications in order to further enhance the quality of life for persons living with diabetes. MBR Source: DOI www.maltabusinessreview.net

Malta Business Review

entertainment

MBR: Where do your ideas come from? It seems your mind is constantly working…

such great satisfaction to see children enjoying music and to be passing my knowledge to the next generation of musicians.

TS: True! Ideas just come to me- I love reading and keeping up-to-date with things happening around me. Also, since the programme’s baseline is fashion, ideas come very easily to me as I am constantly researching current trends, buying fashion magazines and watching fashion shows. Fashion is my passion.

MBR: Do you consider fashion as vital and what can you tell us about copyright in the fashion industry? TS: Yes I truly believe that you are what you wear. Every day, I love putting together an outfit to create my daily look. Copyright is an intellectual property (IP) right - a legal right which gives the creator of an original piece of work, exclusivity in relation to its use. In fact, this year I am working on my Doctor of Laws thesis which deals with IP Rights in the fashion industry and will in fact be discussing rights which designers have, including copyrighting their work.

MBR: When you consider music today, are people still doing it the right way and can you tell us about your recent track? TS: Music keeps evolving and we have so many genres of music nowadays. I am a big fan of live music and represents true talent. However, I still support commercial and pop music as I believe it’s a new style of music, albeit being nothing similar to live music. The last track I launched is actually one of my favourite RnB songs; ‘Fight the Fall’, written and produced by my American Producer Matthew Loverso, which I launched at the Farsons’s Beer Festival last July and which was constantly air-played this Summer on Malta’s top radio stations.

Copyright is an intellectual property (IP) right - a legal right which gives the creator of an original piece of work, exclusivity in relation to its use

MBR: You started learning the piano at six years- what does the piano symbolise and mean to you?

somewhere and there is a piano I could play! To me, a piano is the symbol of true music, relaxation and romance.

TS: I am deeply in love with my pianos! My face lights up whenever I’m out

I also teach piano and theory of music to my very talented students at my music studio and it is

MBR: Why do you consider fashion as an art? TS: Fashion enables one to express his or her inner feelings and should reflect who you are. It is a form of expressing one’s identity through clothes. Fashion and style come for within us and we carry it around with us, daily. MBR: How important were mentors for you? TS: Extremely important. Mentors are role models for young children. My mentors guided me perfectly well- they were strict and disciplined yet sweet, a teacher yet a friend. I look up to my mentors and my parents and I owe it all to them! MBR All Rights Reserved | Copyright 2014

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health & fitness

Malta Business Review

GettinG Better, feelinG Better by George Carol

Motivation is the most important factor in any endeavour. Try and control your food intake when you are not motivated – it’s not going to happen. Richard Geres maintains that personal coaching is a great way of keeping that motivation going. Let’s find out why Richard helps keep his clients on track and why he enjoys such a high success rate.

MBR: How long have you been “open for business?” RG: I have been working in the fitness industry for the past 21 years. After initially operating a health club for several years, I moved on to specialise in providing individual fitness and nutrition coaching services. Clients just get so much better results when they are coached. The percentage of people who succeed on their own is very small and is often only temporary. MBR: Why does Richard Geres Personal Training give its members a reason to believe? RG: Clients come to us with specific problems. Our job is to provide them with a solution. Hence, our programme is very much like a treatment. It’s not just about coming to do some fancy exercises. There is logic and planning involved, and the programme is structured. MBR: How have you been fulfilling your mission of doing your part to help people in the local community stay healthy and physically fit? RG: As a population our health is deteriorating. That is very worrying. The prevalence of diseases like cancer, stroke, heart disease and diabetes is increasing, and lack of exercise as well as inadequate nutrition play a huge part in this. Fact is, we eat too much of the wrong foods and exercise too little. The population needs to become more educated and get away from the dieting-to-lose weight vs. overeating yoyo lifestyle. With our nationwide weight-loss challenge programme we have been working with literally thousands of people to help them arrange their nutrition flaws and get them to become more physically active. Our programme keeps getting better and better, and the results are very inspiring.

EDITOR’S NOTE Our modern, hectic lifestyles are making it more and more challenging to maintain good eating habits and remain physically active. You think you know what we should eat, yet you don’t eat the things you should. You know you should exercise, but you don’t. But knowing is not enough – you must apply. With nutrition and exercise playing such a major role in maintaining good health, you simply cannot ignore that you need to change your

habits. Ignoring it will cost you dearly – your health. That’s where Richard Geres comes in. His programmes will uncover your lifestyle flaws and teach you to become more balanced – nutritionally and physically. As a certified fitness professional and nutritionist with over 20 years experience, he runs a private personal training facility at the Corinthia Hotel St. George’s Bay where he provides one-to-one coaching programmes. He can be contacted for seminars and individual consultations through his website on www.richardgeres.com.

MBR: Has the company’s ‘Can-Do’ philosophy been one of the things that has attributed to the Richard Geres track record of success? RG: Absolutely! In my experience, people wait too long to decide to take action. They wait for the perfect moment to start – when there is less stress at work, better weather, the finish of the party season. However, in life there is never that perfect moment. In fact, the solution to longterm health and weight maintenance is learning how to incorporate reasonably healthy eating and regular exercise in every situation, not just when things are easy and relaxed. So our motto is: Start now, and follow your plan 80% of the time, all the time, rather than trying to be perfect for a few months and then relapsing to old habits because of stress and timerestrictions. We teach people principles. When they learn to incorporate them and they become habitual, lasting lifestyle changes are achieved. MBR: How many hours do you typically work per week in your business? RG: In this business you have to work a lot of hours. Our peak times are early morning and evenings, that’s where I consult or train many of our clients. In between, it’s working on the business. We are a team of 10 coaches, so we rely on a constant inflow of new customers. You have to be proactive to get them. 40-hour weeks don’t exist for small business owners. MBR: Reflecting back to when you opened would you consider yourself well-prepared for owning a business? What were your strengths and weaknesses? RG: In my first business 20 years ago, I had the passion to teach people about fitness, but I was green about how to run a business. There was no real planning. Everything was reactive, rather than pro-active. But I learnt from my mistakes, attended courses and did an MBA. As the business grows, business skills become even more important than technical skills. I am proud to say that we now probably have better operational systems in place than may international operators. We have science-based training methodologies in place that all staff trainers follow rigorously, we apply established assessment protocols and monthly performance reviews for clients, measure our KPIs and have a sound business strategy in place. All this is driven by a clear vision of what we want to be: A professional consultancy and treatment centre for fitness, nutrition and weightmanagement services at the level of top international institutions. MBR All Rights Reserved | Copyright 2014 www.maltabusinessreview.net

Malta Business Review

NEWSMAKERS

EMIRATES AND JETSTAR EXPAND CODESHARE ON MORE ROUTES Effective immediately, Skywards members can now also earn Skywards Miles when they book economy Starter Plus, economy Starter Max or Business Max fares on international routes with Jetstar Airways, Jetstar Asia, Jetstar Japan and Valuair, as well as domestic routes within Australia and New Zealand if they connect to an international flight. .

Emirates and Jetstar have announced the expansion of their codeshare and frequent flyer relationship, to 30 routes across the Asia Pacific region providing more choice to Emirates customers. From 26 October 2014, Emirates will grow its codeshare on Jetstar to include Jetstar Airways services between Melbourne and Ayers Rock (Uluru), Christchurch to Wellington in New Zealand and three new destinations in south-east Asia from Jetstar Asia’s hub in Singapore. The new codeshare services from Singapore will connect Emirates passengers to Penang in Malaysia, Yangon in Myanmar and Medan in Indonesia.

“The expansion of the codeshare with Jetstar is an important milestone as we continue to expand the destinations available to Emirates’ passengers. On Emirates alone we offer 145 destinations and with our partnership with Jetstar we are adding a further 30 routes across the Far East & Australasia region,” said Thierry Antinori, Emirates’ Executive Vice President and Chief Commercial Officer. All Emirates’ passengers on Jetstar flights will receive boarding passes on check-in at their first international departure point for connecting international service. Members must enter their Emirates Skywards membership number during the booking process and Skywards Miles will be awarded within two weeks of completing the journey. Emirates currently operates daily scheduled flights between Malta and Dubai via Larnaka, Cyprus. MBR

MALTA FILM INDUSTRY GOING STRONG NEW AMERICAN SERIES LANDS IN MALTA A US TV series with a biblical story has chosen Malta as its location. The production is already on the island and is due to begin shooting in a few weeks time. This is the first time that Malta has 4 international productions at the same time. The other productions are ‘Clavius’, ‘Andron’ and ‘By the Sea’. The local indigenous industry is doing well too with 2 Maltese feature films currently in production, Limestone Cowboy and Phobia. Minister Manuel Mallia expressed his satisfaction to this year’s results. He remarked that Malta is widely known for its versatile locations and is really becoming a Hollywood destination in the Mediterranean. Film Commissioner Engelbert Grech said that there is a lot of positive energy, with a high level of film activity. The Film Commission put together a very competitive package for film producers and the consistent marketing campaigns are making Malta much more visible on the international scene. MBR

MCAST PART TIME COURSES

MCAST has launched the 2014- 2015 Prospectus for Part Time Courses. MCAST’s mission has always been that to provide universally accessible vocational and professional education and training responsive to the needs of the individual and the economy. It also offers you the opportunity to take up a new hobby, explore your creative side, plan for a change in career, or simply acquire knowledge. In the prospectus you will be able to find the list of courses available together with detailed course information.

An online copy of the prospectus can be found by following this link http://shortcourses.mcast. edu.mt/filebank/WEB-MCAST_PART-TIME_ PROSPECTUS.pdf. MBR Applications for part time courses will be accepted till Friday 12th September 2014. More information can be obtained from the MCAST Part-Time Courses Office by calling on numbers 2398 7103 / 7116 / 7777 or email shortcourses@mcast.edu.mt

DIRECT FLIGHT CONNECTIONS TO CHINA MAY EvENTUALLY bECOME REALITY – TOURISM MINISTER Direct connections between Malta and China may eventually become a reality, as the government hopes to soon establish a direct airline-link with one of China’s many provinces, Tourism Minister Edward Zammit Lewis said during an address of the China-Malta Culture and Media Forum. “We are exploring what province would be best suited for Malta and we are in direct discussions with the various provincial govenrment with the framework of the Memorandum of Understanding.” Dr Zammit Lewis said that the two countries have developed a meaningful partnership, friendship and cooperation, highlighting projects supported by the Chinese government such as the Red China Dock and Freeport. He said Malta can offer a unique experience to Chinese students wanting to study English in Malta. “Malta is one of the safest countries in the world and together with its excellent climate and relatively low costs, Malta an be an ideal place for English language learning.” The Malta Film Commission is working to attract Chinese productions to Malta, the Malta Philarmonic Orchestra, Malta Tourism Authority will soon be launching the Visit-Malta website in Chinese. MBR 66