19 January 2005

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Devaluation talk, media spin scares investor funds away from Islands
By Matthew Vella
“Devaluation can be dangerous talk,” one stockbroker tells The Malta Financial and Business Times following Prime Minister and Finance Minister Lawrence Gonzi’s remark at a PN club meeting last Sunday on having the unions thrash out Alfred Sant’s currency depreciation proposal. The issue was a bone of contention between the two sides of the House in the run-up to last year’s budget. According to sources within the financial services sector, public exchanges over devaluation or depreciation of the Maltese lira have had an impact amongst certain investors, who have chosen to shift their fund investments into foreign-currency denominated funds...READ MORE >>

Lm50 to fly to Gozo, hoteliers have their doubts
By Matthew Vella
Just a short airlift across the island of Malta, and yet Gozo still enjoys just a fraction of Malta’s tourist arrivals and investment. It’s a rueful observation from Gozitan entrepreneur Victor Borg, whose Ta’ Cenc Hotel in Sannat ranks amongst the top getaways on Malta’s sister island.
Now Gozo has been regaled with a revamped helicopter service, but at a Lm50 return fare for tourists travelling between Malta International Airport and Gozo, the price for a Gozitan getaway has become somewhat steep...

Air Malta sells 200,000 BOV shares to Deutsche Bank
By David Lindsay
The Malta Financial and Business Times can confirm that national airline Air Malta, currently undergoing a restructuring process crucial to the company’s survival, sold off some Lm890,000 of its shareholding in Bank of Valletta to Deutsche Bank (Suisse) at the end of the year...

Unions close to adopting common position
By Kurt Sansone
Malta’s union leaders will meet again today in a final effort to come up with a common position ahead of tomorrow’s MCESD meeting, which is to decide on measures to boost the country’s competitiveness and productivity.
Speaking at the end of yesterday’s day-long meeting, Professor Edward Zammit, acting as a mediator and spokesperson for the 20 unions, described the talks as “constructive”.
“Union leaders were engaged in a thorough effort to come up with more than one proposal to help boost the country’s productivity in line with what Government has asked them,” Zammit said...

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Editor: Saviour Balzan
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