The Bank of Valletta Group profits for Financial Year 2008 (FY 2008) amounted to €40.6 million, compared with profits for the previous year of €101.8 million. Announcing the results, Bank of Valletta Chairman Roderick Chalmers stated that "after several years of reporting record profits, it was disappointing, but not at all unexpected, to report a downturn in profits for the year just closed." Mr Chalmers went on to observe that "the conditions encountered throughout the last year - and particularly in the second half of September - have been unprecedented and truly extraordinary, representing as they did the most profound financial crisis of a generation." "In the prevailing circumstances" the Chairman said "it ... Read more...

Inbound tourists in September 2008 are estimated to have decreased by 2.7 per cent when compared to the same month in 2007. Year on year, total nights spent increased by 2.6 per cent. September 2008 According to the ongoing frontier survey, tourist departures in September are estimated at 139,794, implying a decrease of 2.7 per cent over the same month in 2007. The increase reflects primarily a rise in the Dutch, Italian and German markets, while tourists coming from UK, France and Spain registered decreases. Results also show that 84.9 per cent of inbound tourists in September came to Malta on holiday. Meanwhile, total nights spent increased by 2.6 per ... Read more...

According to data obtained from the Consolidated Fund of Government for the first nine months of this year, the shortfall between recurrent revenue and total expenditure increased by €87.6 million when compared to the same month last year, and amounted to €258.3 million. An increase of €169.4 million in total expenditure was partly offset by an increase of €81.8 million in recurrent revenue. During the first nine months this year, the Consolidated Fund recorded increases in revenue of €67.5 million and of €27.0 million from Taxes on Income, and from Value Added Tax respectively. Social Security Contributions also added €21.3 million during the period under review. ... Read more...

In which EU region can you find the highest share of the labour force employed in high-tech sectors? Which region has the highest total number of nights spent in hotels? And which region has the lowest rate of road deaths? The answers to these questions and many more are found in the 2008 edition of the Eurostat regional yearbook which is published by Eurostat, the Statistical Office of the European Communities. The publication gives an overview of the most recent economic, social and demographic developments in the 271 regions of the 27 Member States of the European Union as well as in regions in the three candidate countries (Croatia, the former Yugoslav Republic of Macedonia and Turkey) and the four EFTA ... Read more...

Alternattiva Demokratika - The Green Party welcomes the European Parliament resolution on a proposed EU regulation that seeks to reduce the number of disputes over cross-border divorce judgments. "This proposal will help to alleviate the hardship and bureaucracy of over 170,000 international couples divorcing in EU states every year," stated Arnold Cassola, Chairperson of Alternattiva Demokratika. "AD believes that the three Maltese MEPs present at the voting did well to vote in favour of this resolution, but we remain flabbergasted at the declaration of MEP Simon Busuttil, whowas reported as stating by The Times, that by voting in favour "this does not mean we're (PN) in favour of introducing divorce. However, in countries where divorce is available, couples should be allowed to ... Read more...

The Maltex Philatelic Exhibition, Malta's annual major stamp and postal history event, is being organized by the Malta Philatelic Society at The Green Lounge, Hotel Phoenicia, Floriana. This year's slogan is "Malta Mail." In this ninth edition, Members of the Society will display Traditional Stamps, unique items of Postal History, Old Maltese Postcards and Thematic Collections. The official inauguration ceremony will be held at 5.30pm on Thursday the 6th of November, 2008. The IX Maltex 2008 Philatelic Exhibition will then be open to the general public on Friday, Saturday and Sunday the 7th, 8th and 9th of November as hereunder: Opening Hours: Friday, 7th November: 9.00 am ~ 6.00 ... Read more...

In August 2008 compared with July 2008, the euro area (EA15) industrial new orders index fell by 1.2%. In July the index increased by 2.0%. In the EU27 new orders decreased by 1.4% in August 2008, after growing by 2.9% in July. Excluding ships, railway & aerospace equipment industrial new orders increased by 0.6% in the euro area and by 2.0% in the EU27. In August 2008 compared with August 2007, industrial new orders declined by 6.6% in the euro area and by 6.7% in the EU27. Total industry excluding ships, railway & aerospace equipment dropped by 7.5% in both zones. These estimates are released by Eurostat, the Statistical Office of the European Communities. Monthly changes In August 2008 compared with ... Read more...

HSBC has come to the aid of the Rotary Club Gozo to support the Oasi Foundation and improve Oasi's facilities at the Addiction Treatment Unit. Rotary is an international humanitarian service organisation set up to help create funds to assist local communities. The Oasi Foundation, an NGO which is active in the treatment and rehabilitation of drug addicts and alcoholics, has been chosen as one of the entities the Rotary Club Gozo will be supporting. "HSBC is committed to assist the local community in providing services to allow people going through trying times a better quality of life and a purpose to reform," said Richard Mercieca, HSBC's Area Director - Gozo. Photo above ... Read more...

The Ministry of Social Policy has announced a new housing authority scheme that is open to married and unmarried couples, single or separated persons, single parents, persons with a disability as well as those who have lived in foster care or in an institution. The Government will be paying up to 30 per cent of a bank loan repayment for a period of 10 years under the terms of the scheme. Those who apply will be divided into 3 categories, the maximum value of property that they can purchase will range between €70,000 to €120,000. The financial assistance received will not have to be repaid. The scheme replaces the equity sharing scheme which started in ... Read more...

In terms of the Food Safety Act and the EC Regulation 178 of 2002, the Department for Environmental Health wishes to inform the public that as a precaution, the following product is not to be consumed due to the presence of melamine in excess of the legal limit: Description of Product: Potato Chips (Cheese and Onion) Brand: AJ'S Unit Weight: 60g Best Before Date: 22.04.09 Lot No.: D2CP For further information, the public may contact the Department for Environmental Health on telephone numbers: 21332225 or 21324093 from 8:00am till 3:00pm.