6 FEBRUARY 2002

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Trans(c)ending borders
By Kurt Sansone
The acquisition of a 35 per cent stake in Maltapost by Transend Worldwide, without the issue of a tender does justice to the claim made in Transend’s annual report for 2001, which states that the company is regularly asked to undertake contracts ‘without undergoing a competitive tender process’ by virtue of the experience gained in the field.

Naples Lm96 million terminal to challenge Malta Freeport
The Port of Naples recently announced it is to further crowd the intensely competitive Mediterranean container transhipment market with an ambitious new box terminal, at a cost of EUR240m (Lm96m).

Maltese flagged still in dire straits
Salvage teams working desperately to refloat the waylaid Maltese-flagged cargo ship, the Kodima, continued to be thwarted yesterday by heavy seas, as the Malta Financial and Business Times went to print last night.

Libya’s investment potential explained
Maltese investors, yesterday got a taste of the opportunities to be found across the sea in Libya at a meeting organised by the Chamber of Commerce, which was addressed by the secretary of Libya’s General Industrialisation Corporation, Hassan Hammed Abdallah

Foreign press lauds work flow at Malta Drydocks
The Maltese dockyards are not always seen in bad light. Lloyds list yesterday reported that the Malta Drydocks was fully occupied, and that the recent run of bookings for the yard has given work to all five of its five docks

Foreign direct investment discussed in Bank of Valletta seminar
Edwin Calleja, Director General of the Malta Federation of Industry, recently addressed Bank of Valletta’s management team on the development of foreign direct investment in Malta. The presentation discussed Malta’s past, present and future situations with regards to foreign investment and the evolving of Malta’s economy. The seminar, held at BOV’s Head Office, was organised by the Bank’s Economics Unit.

Cirkewwa terminal works on schedule
Following the approval by the Planning Authority of the building of the Passenger Terminal, car park and the marshalling areas at Mgarr Harbour, the Malta Maritime Authority is focusing its operations on the Passenger Terminal and marshalling area at Cirkewwa.

METCO launches international marketing awards
The Malta External Trade Corporation recently launched the fourth edition of the METCO International Marketing Awards, which has now become another important activity in the Corporation’s calendar of events

HSBC celebrates one millionth direct credit transaction
To celebrate HSBC’s one millionth direct credit transaction, Mr and Mrs Carmel Debono of Fgura have been presented with a weekend break at the Mgarr Hotel in Gozo as well as a copy of the publication ‘The Temple of The Knights of Malta’ by Nicholas de Piro.

Borg Olivier re elected as UFTAA director
The 35th World Congress of the Universal Federation of Travel Agents’ Associations, with its headquarters in Monaco, was held in Tunisia between 23-27 January. The new UFTAA-Monaco Statute, which came into effect in 2002, reduces the world regions from 16 to 9 and allows for one director to represent one region.

METCO International business exchange in Germany
METCO's Euro Info Centre [EICC] is co-ordinating the participation of Maltese companies in ‘EuroPartner’ - an international business co-operation exchange due to be held in Dortmund, Germany between 24 and 25 June.

CHI@nextdimension 2002
More than 60 regional and general managers, overseas representatives and senior executives from the 15 countries where Corinthia Hotels International operates recently attended 'CHI@nextdimension 2002', a four day Annual General Conference held at the newly refurbished Corinthia Jerma Palace Hotel in Marsascala.

HSBC reduces base rate to 4%
Following the decision made by the Central Bank of Malta to reduce the Central Intervention Rate and the Discount Rate by 25 basis points to four per cent, HSBC Bank Malta has announced that, with effect from 5 February, the interest rates on all of its personal and commercial lending products, including home loans, will be reduced by 0.25 per cent.


The Business Times, Network House, Vjal ir-Rihan San Gwann SGN 07
Tel: (356) 382741-3, 382745-6 | Fax: (356) 385075 | e-mail: editorial@networkpublications.com.mt