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Issue <strong>25</strong> – November 2016<br />

06<br />

cover story<br />

Course to Leadership<br />

Interview with Nick Dobrovolskiy,<br />

co-founder and Vice-P<strong>res</strong>ident of<br />

Par<strong>all</strong>els<br />

12<br />

26<br />

30<br />

US Elections: What Next?<br />

Martin Schulz, P<strong>res</strong>ident of the EP reflects on the EU-US relations<br />

Is Digital Mapping the New Media?<br />

Sybille Lammes on her ERC-funded <strong>res</strong>earch about digital mapping<br />

practices<br />

COST : Growing Ideas Through Research &<br />

Innovation Networks<br />

Prof Janet Mifsud, national co-ordinator (CNC and CSO) for COST<br />

(European Cooperation in Science and Technology), for the MCST<br />

Newspaper Post


Malta Business Review<br />

COVER STORY OF THE MONTH<br />

IT’S NOT WHO<br />

YOU KNOW BUT<br />

WHERE YOU<br />

KNOW THEM.<br />

Success isn’t just being in the right<br />

place at the right time, it’s knowing<br />

the right people.<br />

Over the last 150 years, we have<br />

created a far-reaching network by<br />

building lasting client relationships<br />

in over 60 markets.<br />

With connections in some of the world’s<br />

highest growth markets, our Commercial<br />

Relationship Managers are well placed<br />

to support your business’s local and<br />

international banking needs.<br />

Talk to us today to see where our global<br />

network could take your business.<br />

C<strong>all</strong> 2380 8000 or visit<br />

www.business.hsbc.com.mt<br />

Approved and issued by HSBC Bank Malta p.l.c.,116, Archbishop Street, V<strong>all</strong>etta VLT1444. Regulated by the Malta Financial Services Authority.<br />

2


COVER STORY OF THE MONTH<br />

Malta Business Review<br />

www.maltabusinessreview.net<br />

3


Malta Business Review<br />

Issue <strong>25</strong> – November 2016<br />

10<br />

12<br />

06<br />

COVER STORY<br />

COURSE TO LEADERSHIP<br />

Interview with Nick Dobrovolskiy,<br />

co-founder and Vice-P<strong>res</strong>ident of<br />

Par<strong>all</strong>els<br />

PuBLisher<br />

<strong>MBR</strong> Publications Limited<br />

editor<br />

Martin Vella<br />

teChniCaL advisor<br />

Marcelle D’Argy Smith<br />

saLes direCtor<br />

Margaret Brincat<br />

design<br />

Jacqueline Muscat, Gyorgy Vertes<br />

advertising<br />

C<strong>all</strong>: 9940 6743 or 9926 0163/4/6;<br />

Email: margaret@mbrpublications.net<br />

or admin@mbrpublications.net<br />

ContriButors<br />

Frédéric Amant; Alison Bezzina; Antoine<br />

Bonello; George Carol; Reza Degathi;<br />

Jean Paul Demajo; Sybille Lammes; Janet<br />

Mifsud; MITA; Malcolm J Naudi; Martin<br />

Schulz; Jasmine Solana; Paul Ricci; James<br />

Vella Clark;<br />

special thanks<br />

European Parliament; EP/EU Newsroom/<br />

External Relations/P<strong>res</strong>s; DOI; HSBC;<br />

Inspire; LinkedIn; National Audit Office;<br />

Par<strong>all</strong>els<br />

Print ProduCtion<br />

Printit<br />

offiCes<br />

Highland Apartment - Level 1,<br />

Naxxar Road,<br />

Birkirkara, BKR 9042<br />

teLePhone<br />

+356 2149 7814<br />

quote of the month<br />

12 US ELECTIONS: WHAT NEXT?<br />

Martin Schulz, P<strong>res</strong>ident of the EP reflects on the EU-US relations<br />

26 IS DIGITAL MAPPING THE NEW MEDIA?<br />

Sybille Lammes on her ERC-funded <strong>res</strong>earch about digital mapping<br />

practices<br />

30 COST : GROWING IDEAS THROUGH RESEARCH &<br />

INNOVATION NETWORKS<br />

Prof Janet Mifsud, national co-ordinator (CNC and CSO) for COST<br />

(European Cooperation in Science and Technology), for the MCST<br />

Newspaper Post<br />

“Without passion, you don’t have<br />

any energy, and without energy,<br />

you simply have nothing”<br />

Donald Trump, CEO of the Trump<br />

Organization and P<strong>res</strong>ident-elect<br />

of the USA<br />

COVER STORY<br />

6<br />

6 Course to Leadership<br />

Interview with Nick Dobrovolskiy, co-founder and Vice-P<strong>res</strong>ident of Par<strong>all</strong>els,<br />

a global leader in the IT industry<br />

PERSPECTIVES & ANALYSIS<br />

10 The Fourth Industrial Revolution<br />

Paul Ricci discusses the impact of a fusion of technology on construction and<br />

built environment<br />

12 US Elections: What Next?<br />

FEATURE<br />

Martin Schulz, P<strong>res</strong>ident of the European Parliament, reflections on why EU-US<br />

relations are a key component of global stability.<br />

16 Climate Change and the Environment<br />

Exceptional article by Tina Ohliger, who tells us why tackling climate change<br />

is a key item on the EU’s environmental<br />

EXCLUSIVE INTERVIEW<br />

18 “We are not very sure what exactly Trump’s<br />

foreign policy” “agenda is”<br />

18<br />

Interview with German EPP member David McAllister, chair of<br />

Parliament’sdelegation for relations with the United States<br />

ERC STORIES<br />

26 Is Digital Mapping the New Media?<br />

Sybille Lammes on her ERC-funded <strong>res</strong>earch, which focuses on digital mapping<br />

practices<br />

OUR GOLD PARTNERS<br />

your perfect atmosphere<br />

26<br />

Disclaimer<br />

All rights <strong>res</strong>erved. No part of this work covered by copyright may<br />

be reproduced or copied and reproduction in whole or part is strictly<br />

prohibited without written permission of the publisher. All content<br />

material available on this publication is duly protected by Maltese<br />

and International Law. No person, organisation, other publisher or<br />

online web content manager should rely, or on any way act upon<br />

any part of the contents of this publication, whether that information<br />

is sourced from the website, magazine or related product without<br />

first obtaining the publisher’s consent. The opinions exp<strong>res</strong>sed in the<br />

Malta Business Review are those of the authors or contributors, and<br />

are not necessarily those of the editor or publisher.<br />

4


Malta Business Review<br />

CONTENTS<br />

27 A Standard Cancer Care for Pregnant<br />

Women<br />

27<br />

Dr Frédéric Amant talks about his cutting-edge <strong>res</strong>earch in developing<br />

a standard, integrated approach for cancer care for pregnant women<br />

SPECIAL FEATURE<br />

30 COST: Growing Ideas Through<br />

Research & Innovation Networks<br />

Prof Janet Mifusd, national co-ordinator (CNC and CSO) for<br />

COST (European Cooperation in Science and Technology), for<br />

the MCST, explains why COST is the solution to how does one get<br />

involved in an EU project<br />

38 The Employer Branding Tour – Tipico<br />

Careers<br />

Thomas Mahoney Tipico’s case study about a career brand is<br />

known to be a pioneer within the online gaming sphere<br />

igaming<br />

40 A Multidimensional experience in<br />

Malta, launched during SiGMA…<br />

BtoBet, a pioneer in new technologies for iGaming operators and<br />

the betting industry, take us through their latest product addition<br />

– The multidimensional Omnichannel<br />

NEWS FEATURES<br />

42 new momentum and platform to<br />

rebuild trust in the EU Project<br />

We bring you the latest news regarding the Malta EU Pre-<br />

P<strong>res</strong>idency Conference<br />

44 MITA engages ISL for Skillsoft®<br />

eLearning<br />

Information Systems Limited engaged by MITA to provide Skillsoft’s<br />

eLearning programmes in Project Management, IT and technical skills<br />

48 Values for Humanity<br />

Unique tribute by world-famous photographer Reza commemorating<br />

António Guterrez’s accession as UN Secretary General<br />

30<br />

EDITORIAL<br />

As Christmas begins to approach this<br />

season the serious issue of money<br />

in our society becomes highlighted<br />

as everyone scrambles to spend<br />

hundreds of euros on gifts. One<br />

of the best movie rep<strong>res</strong>entations<br />

of our society during Christmas is<br />

The Grinch. The people of Whoville<br />

believed that it was vital to have the<br />

biggest, most expensive accessories<br />

along with the most decorations and<br />

the most elaborate gifts under the<br />

tree. The citizens of Whoville were<br />

so succumbed by the mind-set that<br />

money would buy them everything.<br />

The mayor even tried to buy a woman<br />

into marrying him through giving her a<br />

triple diamond ring and a car, and was convinced that these gifts would<br />

guarantee him a yes to his proposal. Unfortunately, when the Grinch tried<br />

to point out the flaws in their materialistic views, he was ostracized for<br />

his efforts.<br />

It is easy to see how ridiculous a society like this would be, but what we<br />

do not realise is that we have become that society! Maltese have become<br />

very materialistic and have such a short-sighted view on values in life<br />

because our main priorities have been focused on striving for wealth and<br />

success. Some of us indeed live beyond their means. Though wealth and<br />

success are very good things to strive for, we must limit ourselves to the<br />

amount of wealth we wish to obtain. What many of us don’t realise is that<br />

money has become a big issue in our society, indeed the root of <strong>all</strong> evil!<br />

Over the last couple of years, the issue of corruption--the abuse of public<br />

office for private gain--has become a chronic issue, There are a number<br />

of reasons why bribery has come under the microscope. Corruption<br />

scandals have toppled governments in both major industrial countries<br />

and developing countries. Apparently, it is not the case in Malta!<br />

Former Panamanian advisor Joseph E. Stiglitz, Nobel Memorial Prize in<br />

Economics, who chairs The Committee of Inquiry into Money Laundering,<br />

Tax Avoidance and Tax Evasion- PANA Committee of Inquiry to investigate<br />

<strong>all</strong>eged contraventions and maladministration in the application of Union<br />

law in relation to money laundering, tax avoidance and tax evasion, insists<br />

on “Zero tolerance against tax secrecy.”<br />

When it comes to corruption in politics, no one is immune. Part of the<br />

problem in these corruption scandals involves the ability of inte<strong>res</strong>t<br />

groups to determine policy. Political corruption is a serious problem<br />

limiting development in emerging economies. Many scholars have<br />

identified corruption as the new enemy of democracy, blaming it for<br />

limiting political and socio-economic development.<br />

Although no one can re<strong>all</strong>y measure “corruption” due to its discrete<br />

nature and the different discourses defining it, citizen’s perception of<br />

corruption can give us an idea of its direction, and regrettably in Malta,<br />

we have still a long way to go in this direction. People have grown an<br />

insatiable appetite for money in them and they can go to any extent to<br />

get money. Undoubtedly they talk of morality and the importance of<br />

value-based life but that is for outer show. Their inner voice is something<br />

else.<br />

It is always crying for money. It has been seen the officers who are<br />

deputed to look into the matters of corruption turn out to be corrupt.<br />

Our leaders too are not less corrupt. Thus the network of corruption goes<br />

on as usual and remains undeterred.<br />

Though it is very difficult to control corruption, it is not impossible. It is not<br />

only the <strong>res</strong>ponsibility of the government but ours too. We can eliminate<br />

corruption if there will be joint effort. We must have some high principles<br />

to fol<strong>low</strong> so that we may be models for the coming generation. Let us take<br />

a view to create an atmosphere free from corruption. That will be our<br />

highest achievement as human beings.<br />

38<br />

48<br />

Martin Vella<br />

Malta Business Review’s editorial opinions are decided by its Editor,<br />

and besides reflecting the Editor’s opinion, are written to rep<strong>res</strong>ent a<br />

fair and impartial rep<strong>res</strong>entation of facts, events and provide a correct<br />

analysis of local and international news.<br />

Agents for:<br />

www.maltabusinessreview.net<br />

5


Malta Business Review<br />

COVER STORY OF THE MONTH<br />

Course to Leadership<br />

By Martin Vella<br />

<strong>MBR</strong> met with Nick Dobrovolskiy, a co-founder and Vice-P<strong>res</strong>ident of Par<strong>all</strong>els, a global leader in the IT industry who operates in<br />

Malta, providing desktop and application visualization and remote access across desktops and mobile devices along with technology<br />

management solutions.<br />

<strong>MBR</strong>: Can you tell us what is your current<br />

enterprise structure strategy and<br />

objectives and how will your software<br />

technology integrate together?<br />

Personal Brief<br />

Nick Dobrovolskiy is a co-founder and Vice-P<strong>res</strong>ident of Par<strong>all</strong>els. Since the company’s<br />

founding, he is playing a key role in the development and launch of Par<strong>all</strong>els Desktop for<br />

Mac, the world’s first software that give Mac users run macOS and Windows applications<br />

at the same time. Nick has more than fifteen years of experience in virtualization<br />

systems development and leading the Research and Development division of Par<strong>all</strong>els,<br />

overseeing more than 200 staff members. Nick Dobrodolskiy graduated the Moscow<br />

State Institute of Radio Engineering Electronics and Automation. In 2010, he studied<br />

at Harvard Business School. In 2012, he graduated from Foundation and Leadership<br />

program of Yale University.<br />

<strong>MBR</strong>: As many of our readers may not be<br />

familiar with Par<strong>all</strong>els, can you tell us a<br />

little about the company?<br />

ND: We are an international software<br />

company, a global leader in cross-platform<br />

solutions. Our most famous product is<br />

Par<strong>all</strong>els Desktop for Mac. This is simply<br />

the world’s bestselling, top-rated, and<br />

most trusted solution for running Windows<br />

applications on your Mac without<br />

rebooting. For business users, we have a<br />

great corporate solution for remote access<br />

- Par<strong>all</strong>els Remote Application Server, and a<br />

system for managing Macs in a Windowsbased<br />

environment - Par<strong>all</strong>els Mac<br />

Management. Par<strong>all</strong>els makes convenient<br />

software for running and accessing the<br />

applications and files our customers need<br />

on any device or operating system. We<br />

help customers take advantage of the<br />

best technologies out there, whether it’s<br />

Windows, Mac, iOS, Android or the cloud.<br />

Par<strong>all</strong>els solves complex engineering and<br />

user experience problems by making it<br />

simple and cost-effective for businesses and<br />

individual customers to use applications<br />

wherever they may be local, remote, in the<br />

private datacenter or in the cloud.<br />

ND: Our main Strategic focus right<br />

now is our Remote Application Server<br />

which is a remote access solution from<br />

various computers and mobile devices<br />

to Windows applications running on<br />

servers in datacenters or in the cloud<br />

under administrators’ control. We<br />

have clients for Windows, Mac, Linux<br />

computers, iOS and Android phones<br />

and tablets and web browsers. Recently<br />

we added a great mobile experience<br />

for desktop applications accessed from<br />

mobile devices. That is a revolutionary<br />

technology we’ve been developing for 4<br />

years in our consumer oriented remote<br />

access product Par<strong>all</strong>els Access. As an<br />

example there are many sites that require<br />

Internet Explorer and you can have it on<br />

your iPhone, iPad or Android phone or<br />

tablet. It runs in a datacenter, but you<br />

see and work with it on your mobile<br />

device. Also we see that more and more<br />

businesses want to become mobile, so<br />

for example there are Real Estate Agents,<br />

who want to have access to databases<br />

and work with their desktop applications<br />

directly from their iPads while showing<br />

available properties to their clients.<br />

Remote Application Server was founded<br />

in Malta and we continue to develop the<br />

most important parts of it in our R&D<br />

center here in Sliema.<br />

PAUL GAFA<br />

Director of Engineering<br />

- Par<strong>all</strong>els gives me<br />

the opportunity to<br />

continue developing<br />

innovative solutions<br />

which make businesses<br />

more productive. Apart<br />

from the geeky technical<br />

ch<strong>all</strong>enges Par<strong>all</strong>els has a<br />

great team to work with!<br />

6


COVER STORY OF THE MONTH<br />

Malta Business Review<br />

IAN SANT<br />

Project manager at<br />

Par<strong>all</strong>els<br />

- Par<strong>all</strong>els for me is a<br />

company that gives great<br />

opportunities to technical<br />

people.<br />

Together, we have<br />

managed to develop hightech<br />

products that are used by both enterprises<br />

and consumers <strong>all</strong> over the world, with great<br />

plans for the future.<br />

<strong>MBR</strong>: Can you Highlights three reasons<br />

why Par<strong>all</strong>els is a global company on the<br />

rise?<br />

ND: We are Global company in <strong>all</strong> aspects,<br />

from R&D to Sales and Marketing. Par<strong>all</strong>els<br />

has development centers in Malta, Estonia<br />

and Russia. We have our Sales and<br />

Marketing offices worldwide. Therefore,<br />

we are p<strong>res</strong>ent in America, in Europe<br />

and Asia. We have ten corporate offices<br />

worldwide and we sell to customers in <strong>all</strong><br />

markets. You can find Par<strong>all</strong>els Desktop<br />

in any Apple store, in any country in the<br />

World. We have thousands of businesses<br />

partners, <strong>res</strong>ellers and distributors in<br />

<strong>all</strong> countries. And that makes us a re<strong>all</strong>y<br />

global Company.<br />

<strong>MBR</strong>: When you say thousands of<br />

Companies are your customers can you<br />

briefly explain what you mean?<br />

ND: Par<strong>all</strong>els has got more than five<br />

thousand different corporate customers<br />

worldwide, including big ones like Intel,<br />

Google, BMW, Sony, CNN, Apple, Microsoft<br />

and many others, who use our products in<br />

various areas for their business objectives,<br />

and to run their business.<br />

<strong>MBR</strong>: What are the main benefits for<br />

the customers using Par<strong>all</strong>els Business<br />

solutions, and could you please tell us<br />

about the value proposition that you<br />

provide to your clients.<br />

ND: We can see four benefits which<br />

customers get from using Par<strong>all</strong>els Remote<br />

Application Server. Firstly, <strong>all</strong> applications<br />

run in a datacenter and under the<br />

administrators control, which is convenient<br />

and incurs much <strong>low</strong>er maintenance cost,<br />

since it is very easy for the administrator to<br />

see how everything is running, easily help<br />

his users, and quickly and automatic<strong>all</strong>y<br />

inst<strong>all</strong> updates to their software, to their<br />

operating systems, services and so on.<br />

Secondly, it is obviously better security<br />

because the application itself and <strong>all</strong><br />

the data remain in the datacenter and<br />

doesn’t go anywhere.<br />

Thirdly, the application is permanently<br />

running and is always available. Let’s<br />

say you forgot your notebook, but you<br />

have your iPad with you. With Remote<br />

Application Server you can work with<br />

the same application from both of them.<br />

Imagine you start doing some document<br />

in that software on your computer then<br />

switch to your iPad and continue exactly<br />

at the same place where you stopped.<br />

You just continue typing and filling in that<br />

document, no interruption.<br />

Obviously, the main thing is that it al<strong>low</strong>s<br />

to greatly reduce cost because we have<br />

quite an attractive pricing in the area and<br />

you even don’t need to buy expensive<br />

PCs for your employees In addition to<br />

enabling you to save on maintenance<br />

and administration. It is a much more<br />

cost effective solution. Also, our software<br />

is very simple and easy to use therefore<br />

corporate users won’t spend a lot of<br />

money for Education and Certification of<br />

their employees.<br />

taking on an opportunity<br />

and expand our p<strong>res</strong>ence in<br />

an enterprise will be a next<br />

step in our evolution<br />

<strong>MBR</strong>: What are the latest trends in your<br />

area of industry, and can you share the<br />

insights on the new ways that Par<strong>all</strong>els is<br />

looking to engage with your customers<br />

and what ch<strong>all</strong>enges you face.<br />

ND: I think that key trends for many<br />

users and developers today there are<br />

virtualization, remote access and mobility.<br />

Our products not only al<strong>low</strong> you to perform<br />

well on an idea but to combine <strong>all</strong> the<br />

best things from <strong>all</strong> those areas in new<br />

solutions. For example, Par<strong>all</strong>els Remote<br />

Application Server or Par<strong>all</strong>els Access or<br />

Par<strong>all</strong>els Toolbox were created together<br />

with our customers. We carefully listen to<br />

their feedback and make featu<strong>res</strong> which<br />

our users needed. Sounds easy but not<br />

everybody can do it. We do it. We have a<br />

very strong team of great professionals to<br />

make it happen and work with the best<br />

universities to continue to strengthen our<br />

organization with the best young talents.<br />

<strong>MBR</strong>: You are participating in Malta’s<br />

Best in Business Awards 2016. There is<br />

a very strong competitive field. What<br />

has prompted you to take part in such<br />

a p<strong>res</strong>tigious Award and what are your<br />

expectations?<br />

ND: We are an innovative and ambitious<br />

Company. I think that our Maltese team<br />

GIORGIO BONUCELLI<br />

Marketing director at<br />

Par<strong>all</strong>els<br />

- Par<strong>all</strong>els is an exciting<br />

environment that al<strong>low</strong>s<br />

us to experiment and test<br />

out the latest innovations<br />

in both technology and<br />

marketing techniques.<br />

is re<strong>all</strong>y strong. For example, Remote<br />

Application Server was created in Malta.<br />

It was a local product for regional users<br />

mostly. We went serious way and today<br />

this software is sold Worldwide. It is quite<br />

popular and it actu<strong>all</strong>y competes with the<br />

leaders of the Industry. There are actu<strong>all</strong>y<br />

two big ones: Citrix and VMware. Those<br />

are gigantic Companies and we successfully<br />

compete with them, win deals and our<br />

SMB customers are much happier with our<br />

solutions when they could have from those.<br />

That’s why we think that we have a great<br />

chance to show Par<strong>all</strong>els to corporate users,<br />

to say that Company is available and working<br />

Worldwide and successfully competes with<br />

leaders in the Industry and even beats them<br />

in SMB area.<br />

<strong>MBR</strong>: What plans do you have for<br />

Development of the solutions you provide?<br />

What vision for function or growth do you<br />

fo<strong>res</strong>ee for Par<strong>all</strong>els in the near Future?<br />

ND: Of course, as I told you, we are competing<br />

with the leaders in the industry and we want<br />

to become a leader in the remote access area<br />

for sm<strong>all</strong> and medium-sized businesses and<br />

expand our enterprise reach. We think that<br />

this is a clear area where we can become a<br />

strong global leader in this industry and this<br />

is our goal for the next couple of years. This<br />

is what we are doing right now. We evaluate<br />

and see that taking on an opportunity and<br />

expand our p<strong>res</strong>ence in an enterprise will be<br />

the next step in our evolution. As a medium<br />

enterprise, we are doing a very good job: we<br />

have clear roadmaps where we need to go<br />

and what we need to do in our product, we<br />

listen to our customers very carefully and<br />

know that we’re on the right path and we<br />

have a great team to execute our plan. <strong>MBR</strong><br />

All Rights Reserved/ Copyright 2016<br />

SIMONETTA MERCIECA<br />

Director of Sales EMEA at<br />

Par<strong>all</strong>els<br />

- Par<strong>all</strong>els for me is a young<br />

and dynamic international<br />

company, which al<strong>low</strong>s<br />

us to be creative in our<br />

approach in servicing<br />

enterprise customers<br />

and partners around<br />

the globe with innovative virtualization and<br />

cloud solutions. In a time where everyone is<br />

connected anywhere and any-time, Par<strong>all</strong>els<br />

forms an integral part of our lifestyle.<br />

www.maltabusinessreview.net<br />

7


Malta Business Review<br />

taxation<br />

Beneficial company owners register vital<br />

to combat money laundering, experts say<br />

By Special Cor<strong>res</strong>pondent<br />

The EU needs a European<br />

register of beneficial owners of<br />

companies, consistent definition<br />

- and handling - of suspicious<br />

transactions and enforced<br />

transnational cooperation like<br />

the US Financial Investigation<br />

Unit, experts on anti-money<br />

laundering enforcement in<br />

Belgium and Germany told<br />

Parliament’s Panama Papers<br />

Inquiry Committee on Monday.<br />

Money laundering is not a fiscal issue,<br />

but a criminal one, MEPs were told by<br />

Philippe de Koster of the Belgian Financial<br />

Intelligence Unit, an independent<br />

administrative authority involved in<br />

the fight against money laundering and<br />

terrorist financing. There is always a<br />

crime behind money laundering and tax<br />

evasion, and under Belgium’s penal code,<br />

money laundering is considered as bad as<br />

the underlying crime, he said, c<strong>all</strong>ing for<br />

similar standards under EU law.<br />

Knowing bank accounts are<br />

traceable would have a powerful<br />

deterrent effect on individuals<br />

using them to pay bribes<br />

He also made a plea for greater<br />

coordination among Europe’s financial<br />

intelligence Units. “We don’t need<br />

much money, but we do need the<br />

courage to sit together and deal with<br />

what’s coming at us...like brothers-inarms,”<br />

said Mr de Koster.<br />

Giovanni Kessler, Director-General of the<br />

European Anti-Fraud Office (OLAF) c<strong>all</strong>ed<br />

for a standardised, interconnected, easyto-use<br />

registry of national bank accounts<br />

which would be available to <strong>all</strong> EU<br />

enforcement agencies.<br />

“Knowing bank accounts are traceable<br />

would have a powerful deterrent effect<br />

on individuals using them to pay bribes.<br />

Traceability would also increase detection<br />

rates of fraudulent activities and increase<br />

the possibility of control, “ said Mr Kessler.<br />

MEPs also heard about the links between<br />

companies set up by Mossack Fonseca<br />

-- the law firm at the heart of the scandal<br />

-- and Russian-speaking crime groups,<br />

extremist Islamic terrorist groups and<br />

illegal immigration.<br />

“The main point here is that we can link<br />

companies from the Panama Papers leaks<br />

not only with economic crimes, like money<br />

laundering or VAT carousels, but also with<br />

terrorism and Russian organised crime<br />

groups, said Simon Riondet of Europol, the<br />

EU’s enforcement agency against terrorism<br />

and serious international crime.<br />

Klaus Meyer-Cabri, German member of<br />

EUROJUST, the EU agency dealing with<br />

judicial cooperation in criminal matters, said<br />

there had been a steady rise in the number<br />

of money laundering cases in recent years,<br />

but that the release of the Panama Papers<br />

had provided the first-ever opportunity for<br />

EDITOR’S NOTE<br />

national tax authorities to talk to each other.<br />

He described the impact on the agency’s<br />

<strong>res</strong>ources, saying that whereas a normal<br />

coordination meeting of his organisation<br />

cost €8,000 euro, a 28-strong meeting on<br />

the Panama Papers cost €60,000.<br />

Norbert Naulin, head of a North Rhine<br />

Westphalia special investigation unit set<br />

up to fight organised crime and tax fraud,<br />

defended its decision to buy information<br />

from an anonymous source on German<br />

banks and beneficial owners named<br />

in the Panama Papers by saying that<br />

international criminal systems could only<br />

be revealed by someone with insider<br />

knowledge. “No-one wakes up in the<br />

morning and decides to explain how it<br />

runs for altruistic reasons,” he said<br />

The hearings will continue on Wednesday<br />

when the committee will hear from<br />

Nobel-winning economist, Joseph Stiglitz,<br />

who <strong>res</strong>igned as an advisor to the<br />

Panamanian government in August<br />

in protest at its refusal to guarantee<br />

publication of his findings. <strong>MBR</strong><br />

Creditline: Hyun-Sung KHANG; EU Parliament/<br />

PANA P<strong>res</strong>s; REF. : 20161114IPR51018<br />

Panama National Inquiry Committee: debate in committee with Joseph Stiglitz<br />

Joseph E. Stiglitz, Nobel Memorial Prize in Economics - PANA Committee of 16 November<br />

2016. The Committee of Inquiry into Money Laundering, Tax Avoidance and<br />

Tax Evasion commenced holding a meeting with Professor Joseph Stiglitz, Nobel<br />

Memorial Prize in Economics, on 16.11.16. Professor Stiglitz was appointed by<br />

the Panamanian government as expert to the National Inquiry Committee on<br />

the Panama Papers. The Committee started hearing the Professor’s experience<br />

fol<strong>low</strong>ing his <strong>res</strong>ignation a few months after his assignment.<br />

8


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Malta Business Review<br />

Perspectives<br />

The fourth industrial revolution approaches<br />

By Paul Ricci<br />

First it was steam and water,<br />

then mass production and<br />

electricity, then computers.<br />

Now we stand on the brink of<br />

what many term the fourth<br />

industrial revolution, or<br />

industry 4.0. This new wave of<br />

technology is characterised by<br />

a fusion of technologies that<br />

is blurring the lines between<br />

the physical, digital, and<br />

biological sphe<strong>res</strong> – into a vast<br />

connected system of complex<br />

and dynamic interaction:<br />

from a room, to a building, a<br />

street, to a city, country and<br />

ultimately glob<strong>all</strong>y.<br />

But what impact will this have on<br />

construction and the built environment?<br />

Well firstly, let’s try and broadly define<br />

what the fourth industrial revolution<br />

actu<strong>all</strong>y is. It is the idea of smart factories in<br />

which machines are augmented with web<br />

connectivity and connected to a system<br />

that can visualize the entire production<br />

chain and make decisions on its own. So<br />

interconnectivity is at the forefront and<br />

consequently, the possibilities created by<br />

billions of people connected by mobile<br />

devices, with unprecedented processing<br />

power, storage capacity, and access to<br />

knowledge, are infinite.<br />

So how does this mind b<strong>low</strong>ing concept<br />

apply to the construction world? The<br />

impact of the fourth industrial revolution<br />

on the operation of this industry will be<br />

both disruptive and profound. As ever<br />

when new technologies emerge, new<br />

jobs and businesses are created, and it is<br />

very likely new design professionals and<br />

organisations will emerge – enhancing and<br />

empowering buildings and infrastructure<br />

as integral elements of a holistic connected<br />

system.<br />

All these new technologies will have<br />

a direct impact on our buildings and<br />

infrastructure. What we know today as<br />

smart buildings and smart cities in the<br />

third industrial revolution will become<br />

the autonomous building and intelligent<br />

city in the fourth. However, a word of<br />

caution. It is very easy to get carried away<br />

with thoughts of technologies combining<br />

the physical and digital world, making our<br />

lives easier, businesses more efficient<br />

and potenti<strong>all</strong>y changing the world. All<br />

that is great, but if Governments don’t<br />

regulate these technologies properly,<br />

the security risk is high, with personal<br />

information potenti<strong>all</strong>y being easier<br />

than ever to access.<br />

So we stand on the precipice of a<br />

potential technological revolution that will<br />

fundament<strong>all</strong>y alter the way we live, work,<br />

and relate to one another. It is impossible<br />

to know how it will unfold but one thing is<br />

for sure: hold tight, it’s coming.<br />

How do you think the 4th industrial<br />

revolution will shape our future? <strong>MBR</strong><br />

Paul Ricci is the Editorial Account Manager with LinkedIn<br />

10


Malta Business Review<br />

www.maltabusinessreview.net<br />

11


Malta Business Review<br />

analysis<br />

US elections: what next?<br />

By Martin Schulz<br />

Background,<br />

The #US electorate has spoken. The victory<br />

of Donald Trump is unequivocal and must<br />

be <strong>res</strong>pected. I congratulate him and the<br />

Republican Party on their victory.<br />

Mr Trump has managed to become the<br />

standard-bearer of the angst and fears<br />

of millions of Americans. Those concerns<br />

must now be add<strong>res</strong>sed with credible<br />

policies and proposals.<br />

This campaign will not be remembered as<br />

America’s finest. Vitriol and polarisation<br />

have fuelled this electoral contest.<br />

P<strong>res</strong>ident Trump will have the daunting<br />

task of bringing together a divided nation.<br />

Most questions concerning the external<br />

outlook of the future Trump p<strong>res</strong>idency<br />

are yet to be answered. From Syria to<br />

Iraq, from Ukraine to Libya, Trump’s role in<br />

diplomacy and deal-making will be tested<br />

from day-one and will require the right mix<br />

of <strong>res</strong>ponsibility, <strong>res</strong>traint and leadership.<br />

Global politics requi<strong>res</strong> the continuous<br />

engagement of the US to make the world<br />

a better place to leave to our children.<br />

From the fight against global warming<br />

to its commitment to NATO, the world<br />

awaits and hopes for an outward-looking<br />

p<strong>res</strong>idency aiming at shaping international<br />

relations and upholding the values of<br />

freedom and democracy.<br />

The #EU is the largest trading partner of<br />

the US. Together, our economies account<br />

for more than 40% of the entire world<br />

GDP and for nearly a third of world trade<br />

f<strong>low</strong>s. Our partnership goes from the<br />

fight against terrorism to scientific and<br />

academic exchanges. EU-US relations are<br />

a key component of global stability. The EU<br />

is committed to maintain this relationship.<br />

We hope the same holds true for the<br />

future US P<strong>res</strong>ident. <strong>MBR</strong><br />

EDITOR’S NOTE<br />

The European Parliament is the only<br />

directly-elected EU body. Members of<br />

the Parliament rep<strong>res</strong>ent the 500 million<br />

European citizens. As P<strong>res</strong>ident of the<br />

European Parliament, I do the utmost<br />

to rep<strong>res</strong>ent the inte<strong>res</strong>ts of the citizens<br />

of Europe, bringing to the fore the big<br />

European issues which are dear to them.<br />

My objective is to make the work of the<br />

European Parliament more accountable,<br />

visible, transparent and effective.<br />

Members of the European Parliament<br />

make decisions which affect the daily life<br />

of the citizens: from economic governance<br />

and banking supervision to legislation<br />

helping to increase the quality of the air<br />

they breathe, the food they eat, the water<br />

they drink. I also rep<strong>res</strong>ent the Parliament<br />

extern<strong>all</strong>y with third countries and in<br />

key negotiations with other institutions<br />

and Member States such as on the longterm<br />

budget of the European Union. The<br />

European Parliament is the co-legislator<br />

for most of Europe’s laws. It is a place<br />

where people from 27 Member States<br />

(28, as from 1 July 2013 with the entry<br />

of Croatia) come together to disagree,<br />

a place where political ideas and ideals<br />

meet, sometimes to clash, sometimes<br />

to be reconciled. Alliances are formed,<br />

deals are struck, compromises made, in<br />

other words, it’s the usual business of<br />

democratic politics.<br />

Creditline:<br />

be.linkedin.com/in/martinschulzp<strong>res</strong>identep/<br />

Martin Schulz is the P<strong>res</strong>ident of the European Parliament. Previous<br />

Political Affiliations: Group of the Prog<strong>res</strong>sive Alliance of Socialists &<br />

Democrats in the European Parliament, Socialist Group, Town H<strong>all</strong><br />

12


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Malta Business Review<br />

csr<br />

FIMBank<br />

launches new<br />

CSR Campaign<br />

focusing on<br />

Maltese Proverbs<br />

The innovative, creative and engaging concept adopted by FIMBank for “X’jgħid il-Malti?”,<br />

manages to communicate the meaning of such proverbs effectively, arousing the inte<strong>res</strong>t of<br />

both children and adult audiences.<br />

As part of its Corporate Social Responsibility initiatives,<br />

FIMBank plc has launched a series of short video clips which<br />

focus on Maltese proverbs and their meanings. The campaign<br />

“X’jgħid il-Malti?”, fol<strong>low</strong>s on last year’s highly rated series<br />

“Kelma Kuljum”, which had kicked off FIMBank’s efforts to<br />

generate a greater appreciation of the Maltese language. This<br />

is the third consecutive year in which FIMBank has produced a<br />

campaign in relation to Malta’s heritage.<br />

highlighting the linguistic wealth of the Maltese language.<br />

Indeed, the success and viewer engagement associated<br />

with the latter campaign, clearly demonstrated the strong<br />

inte<strong>res</strong>t the Maltese have in their language, making “X’jgħid<br />

il-Malti?” an ideal continuation for 2016-2017”, commented<br />

Murali Subramanian, Chief Executive Officer, FIMBank plc. The<br />

campaign consists of a number of spots, each focusing on a<br />

different proverb. These video clips are due to appear seven<br />

times daily on TVM and TVM 2, throughout the <strong>res</strong>t of 2016<br />

and through 2017 and will also be posted on the Bank’s social<br />

media channels. <strong>MBR</strong><br />

For more information about FIMBank plc, visit www.fimbank.com<br />

The “X’jgħid il-Malti?” video clips adopt a playful tone where<br />

viewers have a few seconds to figure out the meaning of the<br />

proverb. Once the <strong>all</strong>ocated time frame of a few seconds’<br />

elapses, an explanation of the proverb is provided. The<br />

visuals accompanying the voice-over include handmade<br />

crafts which are consistent with the selected proverb’s theme.<br />

The innovative, creative and engaging concept adopted by<br />

FIMBank for “X’jgħid il-Malti?”, manages to communicate the<br />

meaning of such proverbs effectively, arousing the inte<strong>res</strong>t of<br />

both children and adult audiences.<br />

“The aim is to highlight the use of Maltese proverbs in daily<br />

discourse, whilst further emphasising the underlying message<br />

of last year’s highly rated ‘Kelma Kuljum’ campaign, that<br />

14


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Malta Business Review<br />

Climate change and the environment<br />

Climate<br />

change and the<br />

environment<br />

Tina Ohliger<br />

Tackling climate change is a key item on the EU’s environmental agenda and is increasingly important for other areas, such as energy, transport, agriculture and regional<br />

development. The EU is committed to reducing greenhouse gas emissions by at least 20% be<strong>low</strong> 1990 levels by 2020, while improving energy efficiency by 20% and<br />

increasing the share of renewable energy sources to 20% of final consumption. Further ambitious targets have been fixed for 2030. A key mechanism in fighting climate<br />

change is the EU Emissions Trading System (ETS). At the Paris climate conference in December 2015, Parties worldwide (including the EU and its Member States) agreed to<br />

limit global warming to well be<strong>low</strong> 2 ºC above pre-industrial levels.<br />

Legal basis and objectives<br />

Article 191 of the Treaty on the Functioning<br />

of the European Union (TFEU) makes<br />

combating climate change an explicit<br />

objective of EU environmental policy.<br />

General background<br />

a. Global warming<br />

Without additional emission reduction<br />

policies, the average global temperature<br />

is projected to increase by between 1.1 ºC<br />

and 6.4 ºC over the course of this century.<br />

According to the 5th assessment report<br />

by the IPCC (Intergovernmental Panel on<br />

Climate Change), it is extremely likely that<br />

global warming can be attributed to human<br />

influence. Human activities such as the burning<br />

of fossil fuels, defo<strong>res</strong>tation and farming, lead<br />

to the emission of carbon dioxide (CO2),<br />

methane (CH4), nitrous oxide (N2O) and<br />

fluorocarbons. These greenhouse gases<br />

(GHGs) trap heat that is radiated from the<br />

earth’s surface and prevent it from escaping<br />

into space, thereby causing global warming.<br />

b. Impacts of climate change<br />

Global warming has led and will lead to more<br />

extreme weather events (such as floods,<br />

droughts, heavy rain, heatwaves and fo<strong>res</strong>t<br />

fi<strong>res</strong>), water availability issues, disappearance<br />

of glaciers and rising sea levels, shifts in the<br />

distribution of or even extinction of fauna and<br />

flora, plant diseases and pests, food and f<strong>res</strong>h<br />

water shortages, intensified photochemical<br />

smog causing health problems, and<br />

migrations of people fleeing these dangers.<br />

Science shows that the risks of irreversible and<br />

catastrophic change would greatly increase if<br />

global warming exceeded a 2 ºC rise above<br />

pre-industrial levels.<br />

c. Cost of action versus cost of inaction<br />

According to the Stern review, published by<br />

the UK government in 2006, managing global<br />

warming would cost 1% of global GDP every<br />

year, while inaction could cost at least 5%<br />

and up to 20% of global GDP in a worstcase<br />

scenario. Thus only a sm<strong>all</strong> part of total<br />

global GDP would be required to invest in a<br />

<strong>low</strong>-carbon economy, and fighting climate<br />

change would in return induce health<br />

benefits and greater energy security and<br />

reduce other damage.<br />

d. Adaptation to climate change<br />

Adaptation to climate change ranges from<br />

soft and inexpensive measu<strong>res</strong> (water<br />

conservation, crop rotations, drought-tolerant<br />

crops, public planning and awareness-raising)<br />

to costly protection and relocation measu<strong>res</strong><br />

(increasing the height of dykes; relocating<br />

ports, industry, and people away from <strong>low</strong>lying<br />

coastal areas and flood plains). In April<br />

2013 an EU adaptation strategy on climate<br />

change was launched to promote greater<br />

coordination and information-sharing<br />

between Member States and foster the<br />

mainstreaming of the considerations at stake<br />

into <strong>all</strong> relevant EU policies.<br />

Achievements<br />

a. International climate policy<br />

In December 2015, after more than two<br />

decades of negotiations, governments<br />

adopted the first universal agreement<br />

to combat climate change, at the 21st<br />

Conference of the Parties (COP21) to the<br />

United Nations Framework Convention on<br />

Climate Change (UNFCCC) in Paris. The Paris<br />

Agreement strives to keep the increase in<br />

global average temperature to ‘well be<strong>low</strong>’<br />

2°C, while trying to keep it at 1.5°C above<br />

pre-industrial levels. To accomplish this<br />

goal, Parties aim to reach global peaking of<br />

GHG emissions as soon as possible, and to<br />

achieve net zero emissions in the second<br />

half of this century. Financial pathways are<br />

to fol<strong>low</strong> the road towards decarbonisation<br />

and climate-<strong>res</strong>ilient development. For<br />

the first time <strong>all</strong> Parties have to make<br />

ambitious efforts to reduce GHG emissions,<br />

fol<strong>low</strong>ing the principal of ‘common but<br />

differentiated <strong>res</strong>ponsibilities and <strong>res</strong>pective<br />

capabilities’, i.e. according to their individual<br />

situations and possibilities. Every 5 years<br />

(or sooner) <strong>all</strong> countries have to renew<br />

and upgrade their climate action plans<br />

(‘nation<strong>all</strong>y determined contributions’)<br />

and communicate them in a transparent<br />

way so that the collective prog<strong>res</strong>s can be<br />

assessed (‘global stocktake’). Support is<br />

envisaged for developing-country parties<br />

and in particular the most vulnerable, the<br />

Least Developed Countries and Sm<strong>all</strong> Island<br />

Developing States, both financi<strong>all</strong>y and via<br />

capacity-building. Adaptation is mentioned<br />

on an equal footing with mitigation and<br />

is recognised as a global ch<strong>all</strong>enge; so is<br />

the importance of add<strong>res</strong>sing ‘loss and<br />

damages’ associated with the adverse<br />

effects of climate change. The agreement<br />

will enter into force once it has been ratified<br />

by at least 55 governments rep<strong>res</strong>enting at<br />

least 55% of total global GHG emissions.<br />

b. Efforts within the EU to combat climate<br />

change<br />

The EU, via its 2030 climate and energy<br />

framework, has committed itself to the<br />

fol<strong>low</strong>ing goals to be reached by 2030:<br />

reducing greenhouse gas emissions by at<br />

least 40% be<strong>low</strong> 1990 levels, improving<br />

energy efficiency by 27% (indicative target<br />

to be reviewed in 2020), and increasing the<br />

share of renewable energy sources to 27%<br />

of final consumption. The 2030 framework is<br />

fol<strong>low</strong>ing up the ’20-20-20-targets’ decided in<br />

2007 by EU leaders for 2020: a 20% reduction<br />

in GHG emissions, a 20% increase in the<br />

share of renewable energy in final energy<br />

consumption, and a 20% reduction of total EU<br />

primary energy consumption (<strong>all</strong> compared<br />

to 1990), <strong>all</strong> translated into binding legislative<br />

measu<strong>res</strong>. The EU roadmap for moving to a<br />

<strong>low</strong>-carbon economy by 2050 formulates a<br />

long-term GHG reduction target of 80%.<br />

16


Climate change and the environment<br />

Malta Business Review<br />

The EU Emissions Trading System (ETS), the<br />

first and still the largest international carbon<br />

market, is a key EU policy instrument for<br />

fighting climate change. It is based on the<br />

‘cap and trade’ principle: a ‘cap’ is set on<br />

the total amount of GHG emissions that<br />

can be emitted by the more than 11 000<br />

inst<strong>all</strong>ations (factories, power stations, etc.)<br />

included in the scheme. Each inst<strong>all</strong>ation buys<br />

or receives ‘emission al<strong>low</strong>ances’ auctioned<br />

by the Member States. These credits —<br />

cor<strong>res</strong>ponding to one ton of CO2 each — can<br />

be traded with other inst<strong>all</strong>ations if unused.<br />

Over time, the over<strong>all</strong> amount of al<strong>low</strong>ances<br />

is prog<strong>res</strong>sively reduced. Introduced in<br />

2005, the EU ETS has undergone major<br />

reform since then. Fol<strong>low</strong>ing the temporary<br />

freeze of auctions of a proportion of CO2<br />

permits (‘backloading’) and the setting-up<br />

of a ‘market stability <strong>res</strong>erve’ to counter the<br />

structural surplus of emission al<strong>low</strong>ances<br />

by automatic<strong>all</strong>y adjusting the supply of<br />

auctioned al<strong>low</strong>ances, the Commission<br />

proposed yet another reform in July 2015.<br />

Since 2012, the ETS also applies to aviation.<br />

Fol<strong>low</strong>ing massive international opposition,<br />

the EU ‘stopped the clock’ twice, suspending<br />

the scheme’s application to intercontinental<br />

flights until the end of 2016, thus giving the<br />

International Civil Aviation Organization<br />

(ICAO) time to develop a global market-based<br />

mechanism for international aviation that<br />

could start in 2020.<br />

Emissions from sectors not covered by the<br />

ETS, such as road transport, waste, agriculture<br />

and buildings, are subject to the Effort<br />

Sharing Decision, which sets binding annual<br />

GHG emission reduction targets for each<br />

Member State up to 2020. The Renewable<br />

Energy Directive seeks to ensure that by<br />

2020 renewable energy such as biomass,<br />

wind, hydroelectric power and solar power<br />

will make up at least 20% of the EU’s total<br />

energy consumption in terms of electricity<br />

generation, transport, heating and cooling. As<br />

part of the over<strong>all</strong> target, a binding minimum<br />

target is set for each Member State to bring<br />

the share of renewable energy in its transport<br />

energy consumption up to at least 10%.<br />

However, the binding character of this target<br />

is ‘subject to production being sustainable’<br />

and to ‘second-generation biofuels becoming<br />

commerci<strong>all</strong>y available’.<br />

Carbon Capture and Storage technology<br />

separates CO2 from atmospheric emissions<br />

(<strong>res</strong>ulting from industrial processes),<br />

comp<strong>res</strong>ses the CO2, and transports it to a<br />

location where it can be stored. According to<br />

the UN IPCC, CCS could remove 80-90% of CO2<br />

emissions from fossil fuel-burning power plants.<br />

The EU has set up a regulatory framework<br />

to commercialise and subsidise this new<br />

technology. However, the implementation of<br />

the envisaged demonstration projects in Europe<br />

has proven more difficult than initi<strong>all</strong>y fo<strong>res</strong>een,<br />

high costs being one of the main barriers.<br />

New passenger cars registered in the EU have<br />

to comply with CO2 emissions standards.<br />

The target to be reached by the average car<br />

fleet is 130g of CO2/km for 2015 and will be<br />

reduced to 95g/km as from 2021. In order to<br />

create incentives for industry to invest in new<br />

technologies, so-c<strong>all</strong>ed ‘super-credits’ can<br />

be used, whereby the cleanest cars in each<br />

manufacturer’s range count as more than one<br />

car when calculating the average specific CO2<br />

emissions. A similar regulation is in place for<br />

vans, and one is under preparation for buses<br />

and trucks. To support the CO2 emissions<br />

reduction policy, information relating to the<br />

fuel economy of new passenger cars offered<br />

for sale or rental in the EU is made available to<br />

consumers so that they can make an informed<br />

choice when buying a new car.<br />

CO2 emissions from international maritime<br />

shipping are significant, and are expected<br />

to grow considerably. P<strong>res</strong>sing for a global<br />

approach, the EU has in the meantime<br />

established a Union-wide system for the<br />

monitoring, reporting and verification (MRV)<br />

of CO2 emissions from ships, as a first step<br />

towards cutting them. As from 2018, large<br />

ships will have to monitor and annu<strong>all</strong>y report<br />

their verified CO2 emissions released on their<br />

way to, from and within EU ports, along with<br />

other relevant information.<br />

Fol<strong>low</strong>ing bans on chlorofluorocarbons<br />

(CFCs) in the 1980s to stop the depletion of<br />

the ozone layer, fluorinated gases are today<br />

used as substitutes in a range of industrial<br />

applications such as air-conditioning and<br />

refrigeration, since they do not harm the<br />

ozone layer. However, they may have a global<br />

warming potential of up to 23 000 times that<br />

of CO2. The EU has therefore taken measu<strong>res</strong><br />

to control the use of fluorinated gases and ban<br />

their use in new air-conditioning appliances<br />

and refrigerators by 2022-20<strong>25</strong>, thereby<br />

setting the pace for a global phase-out.<br />

Role of the European Parliament<br />

In <strong>res</strong>ponse to the Commission’s proposal<br />

for a policy framework for 2030 on climate<br />

and energy, Parliament gave a strong signal,<br />

c<strong>all</strong>ing for three binding targets (more<br />

ambitious than those fin<strong>all</strong>y agreed): a<br />

reduction of at least 40% in domestic GHG<br />

emissions from 1990 levels; a 30% share for<br />

renewable energy sources in final energy<br />

consumption; and a 40% increase in energy<br />

efficiency.<br />

Prior to the UN climate conference in Paris in<br />

2015, Parliament reiterated the urgent need<br />

‘to effectively regulate and cap emissions<br />

from international aviation and shipping’,<br />

and c<strong>all</strong>ed on <strong>all</strong> Parties to work through<br />

the International Civil Aviation Organisation<br />

(ICAO) and the International Maritime<br />

Organisation (IMO) in order to develop a<br />

global policy framework for setting adequate<br />

targets before the end of 2016. The EP<br />

favours broad-based carbon pricing and<br />

advocates the <strong>all</strong>ocation of emissions trading<br />

revenues to climate-related investments.<br />

It asked for concrete steps, including a<br />

Cost of action versus cost of inaction<br />

timetable, for the phase-out of <strong>all</strong> fossil fuel<br />

subsidies by 2020.<br />

As regards GHG emissions from aviation,<br />

Parliament managed to achieve a<br />

considerable shortening of the period for<br />

temporary exemptions of intercontinental<br />

flights from the EU ETS, and defined very<br />

clearly the criteria that have to be fulfilled<br />

for an international regime to be acceptable<br />

(de facto GHG emissions reduction; nondiscriminatory<br />

approach). Furthermore,<br />

for the first time it managed to secure a<br />

provision that EU Member States will have to<br />

report on how they spend the money coming<br />

from ETS al<strong>low</strong>ance auctions.<br />

Within the context of the revision of<br />

the Renewables Directive, the EP strove<br />

to guarantee that biofuel production is<br />

environment<strong>all</strong>y and soci<strong>all</strong>y sustainable<br />

and does not lead to defo<strong>res</strong>tation and<br />

rising food prices (so-c<strong>all</strong>ed indirect land use<br />

change (ILUC)). Parliament c<strong>all</strong>ed for a limit<br />

on first-generation biofuels from traditional<br />

food-derived sources of 6% of final transport<br />

energy consumption by 2020 (as opposed to<br />

the 10% limit currently in force), and also for<br />

a rapid switch to advanced biofuels sourced<br />

from seaweed or certain types of waste.<br />

During negotiations with the Council on<br />

fluorinated gases, Parliament advocated a<br />

complete phase-out of climate-damaging<br />

F-gases in several new sectors where<br />

safe, energy-efficient and cost-effective<br />

alternatives are available. Among other<br />

measu<strong>res</strong>, a ban on the use of F-gases in new<br />

commercial refrigeration is fo<strong>res</strong>een from<br />

2022.<br />

In an update on CO2 emissions from<br />

passenger cars and vans, Parliament insisted<br />

on introducing the new UN-defined global<br />

test cycle as soon as possible, with a view to<br />

reflecting real-world driving conditions when<br />

measuring CO2 emissions. <strong>MBR</strong><br />

Creditline: EU Parliament<br />

www.maltabusinessreview.net<br />

17


Malta Business Review<br />

US elections<br />

“We are not very sure what exactly<br />

Trump’s foreign policy” “agenda is”<br />

By Special Cor<strong>res</strong>pondent<br />

The election of Donald Trump as the 45th P<strong>res</strong>ident of the United States will undoubtedly affect the country’s relations with<br />

the EU. Not only could it have an impact on the ongoing negotiations for free-trade agreement TTIP, there could also be repercussions<br />

for the other pillar of Euro-American cooperation, Nato. We talked to German EPP member David McAllister, chair of<br />

Parliament’s delegation for relations with the United States, what Europe can expect from a Trump p<strong>res</strong>idency.<br />

David McAllister<br />

<strong>MBR</strong>: What will the outcome of the<br />

elections mean for Europe?<br />

DMA: Foreign policy, and especi<strong>all</strong>y<br />

Europe, did not play a large role in the<br />

American p<strong>res</strong>idential campaign so we<br />

know a lot about Mr Trump on the one<br />

hand, but we are not very sure what<br />

exactly his foreign policy agenda is, so we<br />

just have to wait and see now. Who is he<br />

going to appoint as an adviser, who is he<br />

going to appoint as cabinet members and<br />

will his policies diverge from the rhetoric<br />

we have been hearing in the last few<br />

weeks and months?<br />

I hope that our good trans-Atlantic<br />

cooperation can continue. I think<br />

P<strong>res</strong>ident Juncker, P<strong>res</strong>ident Tusk and<br />

P<strong>res</strong>ident Schulz were very clear in<br />

their statements today: how much we<br />

Europeans are inte<strong>res</strong>ted in not only<br />

continuing our good trans-Atlantic<br />

cooperation, but even strengthening it<br />

in these ch<strong>all</strong>enging times in the 21st<br />

century. It’s up to the P<strong>res</strong>ident to show<br />

us if he is also inte<strong>res</strong>ted in strengthening<br />

the partnership.<br />

<strong>MBR</strong>: How do you think this will affect<br />

TTIP?<br />

DMA: Mr Trump is critical on free-trade<br />

agreements. He wants to reverse the<br />

Nafta agreement. He was very critical on<br />

TPP. The planned TTIP agreement with us<br />

Europeans did not play such a central role<br />

in the p<strong>res</strong>idential campaign. I think we<br />

will just have to wait and see what the next<br />

Trump administration will have for ideas.<br />

I believe trade negotiations with the<br />

Trump administration will be more difficult<br />

than under an Obama administration.<br />

<strong>MBR</strong>: What impact will it have on the<br />

Nato partnership?<br />

DMA: Nato is the main pillar for our<br />

security in Europe. We are very much<br />

inte<strong>res</strong>ted in having a good and close<br />

cooperation with our American <strong>all</strong>ies<br />

when it comes to external security,<br />

but also to fight the ch<strong>all</strong>enges of<br />

international terrorism.<br />

I expect P<strong>res</strong>ident Trump to ask us in<br />

Europe to do more for our own security<br />

and that’s why this c<strong>all</strong> from America will<br />

lead, in my view, to a closer cooperation on<br />

defence and security within the European<br />

partners in the Nato framework. <strong>MBR</strong><br />

All Rights Reserved/ Copyright 2016<br />

Creditline: EU Newsroom/External Relations/P<strong>res</strong>s<br />

18


Malta Business Review<br />

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www.maltabusinessreview.net 19


Malta Business Review<br />

hubbing<br />

Malta as a Logistics Hub<br />

But is Malta Ready To Embrace the Changes Needed to make Hubbing a Success Story?<br />

By Special Cor<strong>res</strong>pondent<br />

“The idea of making Malta a logistics hub makes a lot of sense and should be an idea embraced by <strong>all</strong>. Truth be<br />

told, Malta is not new to this concept and the country has been part of the hub industry for several years. But for<br />

this idea to take off, the country needs to take serious and hard decisions to create the right environment for this<br />

industry,” says Franco Azzopardi, Chairman and CEO of Exp<strong>res</strong>s Trailers.<br />

warehouse can take, needs to be imported<br />

8 times from the Freeport and exported<br />

8 times from the cargo terminals. The<br />

400,000 cubic meters of new warehousing<br />

space being offered at Hal Far, would<br />

probably translate to 1.6 million cubic<br />

meters carried from the Freeport to the<br />

warehouse annu<strong>all</strong>y and another 1.6<br />

million cubic meters out of the warehouse<br />

via the cargo terminals.<br />

I am not so sure the last leg out of the<br />

terminals is possible with the current<br />

infrastructure at Corradino as this<br />

would mean a further 400 trailers to be<br />

exported weekly!<br />

Malta’s problem is the wide imbalance<br />

between the volume of cargo we import<br />

for consumption and the very sm<strong>all</strong><br />

amounts we export. This imbalance for<br />

cargo carriers like ourselves means that<br />

part of our round-trips end up being done<br />

empty, and as a consequence, the cost of<br />

that empty space transported is suffered<br />

loc<strong>all</strong>y, partly by us, the carriers, and partly<br />

by the client.<br />

Hubbing is positive because by optimizing<br />

the routes of the journey of the cargo<br />

via Malta, we can generate more export<br />

to correct this import-export imbalance.<br />

This imbalance can also be corrected by<br />

shipping south-bound cargo to North<br />

Africa via the Freeport in containers.<br />

This not only corrects the import-export<br />

imbalance but brings also more economic<br />

value to our island, create economies<br />

of scale in favour of our consumer<br />

and manufacturer, and creates further<br />

investment and employment.<br />

Needless to say, at Exp<strong>res</strong>s Trailers, we<br />

are leaders in Third Party Logistics and<br />

have been specialists in the transport of<br />

cargo and managed warehousing for many<br />

years. This is why the concept of hubbing,<br />

is an exciting proposition for our business.<br />

However, our operations and experience in<br />

logistics al<strong>low</strong> us to be more aware of the<br />

bottlenecks that Malta needs to add<strong>res</strong>s if<br />

hubbing is to take off successfully.<br />

The cargo terminals both at the airport<br />

and at Corradino could stifle the extent of<br />

the growth possible through international<br />

hubbing. Logistics and the environment<br />

are not best of friends and we have<br />

to decide on balance and equating<br />

the differences. More cargo from the<br />

Freeport means more trailers on the road<br />

to the warehouse.<br />

Another serious limitation is the lack of<br />

trailer parks on the island. I can say we<br />

have a serious problem where to park our<br />

trailers safely off the public roads. Now<br />

multiply that by the number of the other<br />

operators. Space is an issue.<br />

Space is also a primary issue. Warehouses<br />

need space. Industry standards suggest<br />

that inventories in warehouses need to<br />

be ‘turned around’ between five and eight<br />

times, meaning that the volume that the<br />

This brings us to the issue of road<br />

congestion which is already very dense.<br />

The national problem we need to add<strong>res</strong>s<br />

is the acute traffic in rush hours. This is<br />

disrupting the quality of life of people<br />

and disturbing also the supply chain of<br />

the carriage of goods. Our trips are taking<br />

longer and longer posing difficulties in<br />

planning routes and giving estimated time<br />

of arrivals to clients.<br />

As one can see, the viability of hubbing<br />

needs to remain conscious of the physical<br />

limitations and on further investment in<br />

our terminals, remaining also sensitive<br />

to our environmental obligations. Hardnosed<br />

decisions pointed at the festering<br />

problem need to be taken and driven<br />

by Government. Unless we embrace<br />

change, the hubbing concept will die<br />

before even taking off. <strong>MBR</strong><br />

20


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Malta Business Review<br />

Hospitality & Decor<br />

Revolutionising the hotel sleep business<br />

By Special Cor<strong>res</strong>pondent<br />

A good night’s<br />

sleep is the crown<br />

of any hotel, and<br />

any place that invests<br />

in improving the<br />

experience is putting<br />

a spotlight on what<br />

re<strong>all</strong>y matters.<br />

We spend roughly a third of our life in bed.<br />

In hotel time, however, it’s more like half of<br />

our lives, making the bed arguably the most<br />

important element in the room. While luxury<br />

hotels flog services and amenities, from<br />

super-fast Wi-Fi to butlers who will liter<strong>all</strong>y<br />

unpack for you, it’s re<strong>all</strong>y the bed that most<br />

travellers are focused on. According to a<br />

2014 G<strong>all</strong>up survey, more than half of guests<br />

who stay in the medium-high priced hotels<br />

said they would pay more for an improved<br />

bed. Among <strong>all</strong> <strong>res</strong>pondents, a comfortable<br />

bed was most often named as the most<br />

important feature of a hotel room, more<br />

than any other amenity, including Internet<br />

access and helpful employees.<br />

A guest’s needs and preferences are<br />

diverse and the demand for a personalised<br />

sleep environment is increasing. Another<br />

survey, conducted by Ipsos shared insights<br />

on what helps them sleep well on the<br />

road. Highlights include:<br />

• 92% exp<strong>res</strong>sed a distinct preference<br />

on the firmness of the bed, with 50%<br />

preferring medium, 28% preferring firm<br />

and 14% soft.<br />

• 30% requested a room change due to<br />

the bed<br />

• 31% have wanted to take home the<br />

bed.<br />

• Pre-bedtime rituals varied widely,<br />

with Russians and Chinese favouring a<br />

hot shower whilst the British enjoyed<br />

tucking in to bed with a good book<br />

• The one thing most people have in<br />

common? 72% said they like to sleep<br />

on the same side of the bed they are<br />

used to at home.<br />

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different levels of comfort tailored to<br />

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“Using our proprietary Technology we have<br />

designed the Guest matt<strong>res</strong>s to offer three<br />

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A system of revolutionary matt<strong>res</strong>s<br />

toppers engineered specific<strong>all</strong>y for Hotels,<br />

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easily changed by the housekeeping staff<br />

by swapping one topper for another in a<br />

matter of minutes; guests arriving to their<br />

room will find their chosen bed in place<br />

when they arrive. The most popular model<br />

among hotels, the G2, offers the same 3<br />

firmnesses except it comes with only one<br />

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• Natural comfortable Memory foams<br />

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The combination of advanced foams at<br />

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Malta Business Review<br />

<strong>MBR</strong> News Global Round-Up<br />

Moldova has elected pro-Russian Igor Dodon as<br />

p<strong>res</strong>ident, over the pro-EU Maia Sandu. Dodon has<br />

promised to organize a referendum with the intention<br />

of ditching the country’s “association agreement” with<br />

the EU. “I promise that I will be everyone’s p<strong>res</strong>ident, of<br />

those who want to be in the EU and those who [want to<br />

be] close to Russia,” Dodon said Sunday. <strong>MBR</strong><br />

APRÉS TRUMP, LE DELUGE — BULGARIAN PM<br />

RESIGNS: Boyko Borisov <strong>res</strong>igned Sunday, after<br />

a runaway victory for Socialist candidate Rumen<br />

Radev in the country’s p<strong>res</strong>idential race which leaves<br />

Bulgaria “set to veer sharply back into Moscow’s<br />

strategic orbit.” <strong>MBR</strong><br />

Swedish neo-Nazis hit new peak: “Sweden’s neo-Nazi<br />

Nordic Resistance Movement (NMR) mounted the biggest<br />

march in its history on Saturday, with its leadership saying<br />

the election of Donald Trump in the US marked the start of<br />

a world revolution.”<br />

Threat: Neo-Nazi demonstrators make the fascist salute<br />

during a demonstration in Stockholm, in December<br />

2006. Despite popular belief that Sweden is a liberal and<br />

unbiased country, it too has a history of fascism <strong>MBR</strong><br />

A message from ETNO & BCG: Will you<br />

be a digit<strong>all</strong>y-empowered citizen? That’s<br />

what the Gigabit Society vision is about.<br />

With superfast broadband networks,<br />

you can boost your job opportunities,<br />

grow your business or simply enjoy ultrahigh<br />

quality entertainment. Network<br />

investment is the pre-requisite. Check<br />

the latest BCG report on how smart<br />

regulation can help achieve that. <strong>MBR</strong><br />

Renzi removed the EU flag from his p<strong>res</strong>s<br />

conference (h/t Davide Denti.) Meanwhile, on<br />

Saturday, the leader of the Northern League,<br />

Matteo Salvini, told a crowd in Florence,<br />

waving American and Russian flags, that he is<br />

Italy’s Trump and plans to take over the Italian<br />

center–right. <strong>MBR</strong><br />

BBC put Marine Le Pen on its flagship weekend<br />

politics program, a decision Seb Dance, a UK<br />

Labour MEP, profoundly disagreed with. <strong>MBR</strong><br />

A Brussels warning from The<br />

Economist: “Eurocrats in Brussels<br />

often complain that they are made<br />

the scapegoats for the failings of<br />

national politicians. They should<br />

brace for more of it … The EU may<br />

eventu<strong>all</strong>y tilt towards a common<br />

assembly for mutu<strong>all</strong>y beneficial<br />

transactions rather than a club of<br />

like-minded countries with a sense<br />

of shared destiny.” <strong>MBR</strong><br />

TRUMPWORLD, DAY SIX.<br />

The first signal to the EU: a meeting with Nigel<br />

Farage. The European Parliament has always angled<br />

for a greater role in world affairs. It now has one, via<br />

one of its members being the first foreign politician to<br />

sit down with Donald Trump since the U.S. election.<br />

Unfortunately for Eurocrats, the politician was<br />

Nigel Farage, leader of the Europe of Freedom<br />

and Direct Democracy party group, and the face<br />

of Brexit. Die Welt. <strong>MBR</strong><br />

“Stupid. Ridiculous.<br />

Hysterical,” says UK<br />

government: The EU<br />

foreign ministers’ crisis<br />

meeting over Trump<br />

election win is seen as an<br />

absurd overreaction. Boris<br />

Johnson c<strong>all</strong>ed it part of a<br />

“collective whinge-o-rama”<br />

and refused to join the<br />

meeting. At the same time,<br />

in what the FT described as<br />

a “snub,” the French foreign<br />

minister for his part said<br />

he had to skip the meeting<br />

because of the anniversary<br />

of the Paris attacks.<br />

Meanwhile, P<strong>res</strong>ident-elect<br />

Trump and Nigel Farage met<br />

for a photo-op in a goldplated<br />

elevator. <strong>MBR</strong><br />

ICYMI — Merkel’s conditional<br />

support: Angela Merkel told Trump:<br />

“Germany and America are connected<br />

by values of democracy, freedom and<br />

<strong>res</strong>pect for the law and the dignity of<br />

man, independent of origin, skin color,<br />

religion, gender, sexual orientation or<br />

political views,” she said, according to a<br />

statement: “I offer the next P<strong>res</strong>ident of<br />

the United States close cooperation on<br />

the basis of these values.” <strong>MBR</strong><br />

THE EUROPEAN RESPONSE … Much<br />

of Europe’s media led with news of<br />

Trump’s wish to immediately deport<br />

around three million undocumented<br />

migrants, even if Paul Ryan rejects the<br />

idea of a deportation force. Trump also<br />

said he’s “fine” with marriage equality.<br />

YLE (Finland) | La Repubblica (Italy) |<br />

Onet (Poland) | <strong>MBR</strong><br />

Inside Europe’s panic<br />

room: the union’s foreign<br />

affairs ministers meet this<br />

morning after a dinner last<br />

night revealed they have<br />

few clues when it comes<br />

to Trump’s plans. They<br />

are also divided on how to<br />

engage with the incoming<br />

administration. <strong>MBR</strong><br />

The EU foreign policy chief<br />

though kept her cool in this<br />

exchange:<br />

Journalist: “Will it be<br />

awkwtard meeting Trump,<br />

knowing what he said<br />

about women?” Federica<br />

Mogherini: “I’m Italian.<br />

We’ve seen it <strong>all</strong>.” <strong>MBR</strong><br />

Italy sees a glass half-full: Foreign Minister Paolo<br />

Gentiloni said the p<strong>res</strong>ident-elect should improve<br />

relations with Moscow without “giving up on<br />

principles.” Silvio Berlusconi, in an interview with<br />

Corriere della Sera, said he likes Trump’s ideas on<br />

Russia, fiscal policy and migration – but not those<br />

on trade.<br />

<strong>MBR</strong><br />

Pay the rent: Italy’s former NATO ambassador<br />

Stefano Stefanini told Playbook that, when it<br />

comes to Trump and America, everyone has<br />

“to pay the defense bill. The renters who do<br />

not pay, face eviction. The new American<br />

p<strong>res</strong>ident comes from real estate: rent needs<br />

to be paid – on time.”<br />

<strong>MBR</strong><br />

NATO says Trump cannot go it alone: Going it<br />

alone is not an option for the U.S. or Europe, says<br />

NATO head Jens Stoltenberg. <strong>MBR</strong><br />

Jean-Claude Juncker: What’s<br />

he playing at? Juncker said:<br />

“We must teach the P<strong>res</strong>identelect<br />

what Europe is and how it<br />

works.” He added: “I believe we’ll<br />

have two years of wasted time<br />

while Mr. Trump tours a world<br />

he doesn’t know.” Italy’s former<br />

NATO ambassador Stefano<br />

Stefanini in La Stampa: “His<br />

attack will only make Americans<br />

close ranks with the newly<br />

elected P<strong>res</strong>ident,”<br />

<strong>MBR</strong><br />

Source: POLITICO newsletter family; Brussels Playbook; Morning Exchange<br />

24


<strong>MBR</strong> News Global Round-Up<br />

Malta Business Review<br />

The aspect of Pearl Harbor that’s never discussed: it<br />

was a massive management failure<br />

By Steve Twomey<br />

Give Japan’s navy its due. It successfully<br />

ambushed Pearl Harbor seventy-five years<br />

ago because its commander was partial<br />

to gambles; its technicians eliminated a<br />

confounding quirk of torpedoes, and its<br />

seamen proved adept at sailing thousands<br />

of miles undetected. The Japanese got lucky,<br />

too.<br />

In the era before spy satellites, they had no<br />

way of knowing as they set out whether<br />

the Pacific Fleet would even be in Hawaiian<br />

waters on December 7, 1941. And, no,<br />

Franklin Roosevelt did not know they were<br />

coming.<br />

But mostly, the Japanese were the<br />

beneficiaries of acute managerial<br />

breakdown. One of the most unexpected,<br />

self-image shattering events in American<br />

history may be receding into a misty other<br />

century, but it is the perfect primer of the<br />

mistakes that government and business –<br />

that <strong>all</strong> of us — make every day.<br />

Lesson one: Make sure there’s no other<br />

way to read what you write.<br />

As peace was fraying in late November,<br />

Washington alerted its forces in the Pacific to<br />

probable Japanese agg<strong>res</strong>sion. Or thought it<br />

had. In reality, when officers at Pearl Harbor<br />

saw the Navy Department’s unprecedented<br />

first sentence – “This dispatch is to be<br />

considered a war warning” – they concluded<br />

danger lay elsewhere, because the note<br />

immediately went on to list Japan’s likely<br />

objectives, and Hawaii was not one of them.<br />

Its writers knew what they had meant – that<br />

while the listed locales seemed especi<strong>all</strong>y<br />

threatened, no outpost should feel safe –<br />

but they hadn’t considered how recipients<br />

might conflate the parts. If he missed the<br />

point, the fleet commander said later, “Then<br />

there must have been something the matter<br />

with the message.”<br />

Lesson two: To assume is to regret.<br />

That commander, Admiral Husband E.<br />

Kimmel, was not required to report he<br />

understood the warning, or what security<br />

steps he was taking. Those in charge on<br />

the sea frontiers had risen to their exalted<br />

positions by demonstrating smarts and<br />

judgment, and the Navy Department was<br />

certain they would do the right thing. It<br />

wouldn’t micromanage. Only too late did<br />

Washington ask Oahu if search planes had<br />

been out, only to learn the answer was no.<br />

It is wise to give subordinates the room to be<br />

creative; it is not to remain ignorant of their<br />

choices.<br />

In contrast, the Army did order its Hawaii<br />

commander to report how he was<br />

<strong>res</strong>ponding to the warning. But the War<br />

Department then failed to grasp what<br />

General Walter C. Short wrote back: He was<br />

guarding only against sabotage by islanders<br />

of Japanese descent, not an attack from<br />

without. “I told them as plainly as I could,”<br />

Short said. The Army Chief of Staff blamed<br />

a deluge of work for not reading carefully a<br />

reply he had demanded person<strong>all</strong>y.<br />

Lesson three: You can’t have multiple<br />

leaders.<br />

The Navy and Army on Oahu did not<br />

compare notes after the warnings. Neither<br />

was subservient to the other. A cong<strong>res</strong>sman<br />

who was also a Marine <strong>res</strong>ervist had spent<br />

a month of active duty on the island that<br />

summer, and concluded that one man<br />

ought to be in charge of both services there,<br />

someone to whom the crucial data and<br />

problems went, and from whom the big<br />

decisions emanated. To leave <strong>res</strong>ponsibility<br />

muddled “may prove dangerous and tragic,”<br />

the cong<strong>res</strong>sman wrote the Navy in October.<br />

Nothing had changed by December. As for<br />

whether Kimmel had begun a search after<br />

the warnings, which is what he thought<br />

might happen, Short said, “I did not pin him<br />

down.”<br />

Lesson four: Don’t let your desi<strong>res</strong> colour<br />

new facts.<br />

Too often on Oahu the latest intelligence was<br />

interpreted in a benign way, which enabled<br />

everyone to avoid disrupting plans and<br />

routines. By December 2, the names of four<br />

Japanese aircraft carriers had vanished from<br />

intercepted radio traffic, but the conclusion<br />

was they most likely remained in home<br />

waters. By December 3, Japanese diplomats<br />

were destroying codebooks and machines<br />

in Washington and elsewhere, but that<br />

was seen as merely a precaution Japan was<br />

taking in case the United States attacked it. “I<br />

didn’t draw the proper answer,” Kimmel said<br />

later. “I admit that. I admit that I was wrong.”<br />

This tendency to give information a sunny<br />

spin was especi<strong>all</strong>y costly in regard to<br />

torpedoes. Dropped from an airplane, a<br />

torpedo plunges deeply before running<br />

to its target. Pearl Harbor was but fortyfive<br />

feet. In June, Washington advised that<br />

while an attacker would probably need<br />

considerably more water than that to avoid<br />

having its torpedoes p<strong>low</strong> into the sea<br />

Photo: Fox Photos via Getty Images<br />

bottom, no depth should be thought safe.<br />

The fleet did not take the caution to heart.<br />

No cumbersome protective netting was<br />

strung around the tethered battleships,<br />

which wound up punctured repeatedly by<br />

torpedoes the Japanese had modified for<br />

shal<strong>low</strong> waters.<br />

Lesson five: If you are given expert<br />

advice, remember it.<br />

In March 1941, a general and an admiral on<br />

Oahu concluded that in a time of tension,<br />

a fast Japanese raiding force might reach<br />

island waters “with no prior warning from<br />

our intelligence services,” and prior to a<br />

declaration of war. Launched from one or<br />

more carriers, Japanese planes might catch<br />

the fleet unawa<strong>res</strong> in port, the two officers<br />

said. Reconnaissance would be the only<br />

antidote.<br />

But then, just about everyone relegated that<br />

dangerous scenario to their mental back<br />

pages. It was a box that had been ticked.<br />

Americans did not view the Japanese as<br />

particularly creative or capable. The Navy<br />

felt its own ships would have a hard time<br />

pulling off a comparable strike on Japan, and<br />

if our boys couldn’t do it, theirs couldn’t. In<br />

the days after the war warnings, with four<br />

enemy carriers unaccounted for, no one<br />

even mentioned the news to the admiral<br />

who had co-authored the March report.<br />

That morning long ago, as warplanes with<br />

red b<strong>all</strong>s on their wings swept down on his<br />

ships, Kimmel stood in his yard watching<br />

with a neighbour, who would remember the<br />

look on the commander’s face. He was “as<br />

white as the uniform he wore.” <strong>MBR</strong><br />

EDITOR’S NOTE<br />

Steve Twomey is a<br />

Pulitzer Prize–winning<br />

reporter and the author<br />

of Countdown to Pearl<br />

Harbor: The Twelve Days<br />

to the Attack<br />

www.maltabusinessreview.net<br />

<strong>25</strong>


Malta Business Review<br />

ERC STORY<br />

Is digital mapping the new media?<br />

By Sybille Lammes<br />

Over the past months, a sudden influx of ‘Pokémon Go’ players could be observed across the globe. Youngsters, people of <strong>all</strong> ages<br />

scrutinise their surroundings silently, using their smartphones to catch those digital creatu<strong>res</strong> with unlikely names. How could such<br />

a phenomenon take over the world so fast? Part of the answer may be the game’s strong interaction with the real-world and its<br />

imp<strong>res</strong>sive mapping, offering a whole new virtual experience of spaces that seem to be familiar and yet so different.<br />

Based at the University of Warwick<br />

(UK), Sybille Lammes’ ERC-funded<br />

<strong>res</strong>earch focuses on digital<br />

mapping practices - including those<br />

related to play. She sees them as new<br />

media cultu<strong>res</strong> that influence and alter<br />

our way of being and moving through<br />

spatial environments. She is also the<br />

first to combine New Media Studies,<br />

Science and Technology Studies and<br />

Human Geography and thereby to tackle<br />

an original and mostly unexplored<br />

<strong>res</strong>earch field.<br />

“Digital maps can be simultaneously<br />

understood as new media, technologies<br />

and cartographies” explains Lammes,<br />

nourishing the conception of new media<br />

as “material cultu<strong>res</strong>” that are physic<strong>all</strong>y<br />

embedded in daily life and technologies.<br />

A new culture<br />

Digital cartographies have changed<br />

the century-old conception of maps,<br />

tradition<strong>all</strong>y perceived as something<br />

tangible rep<strong>res</strong>enting a space. In the<br />

numerical world, on the other hand, we<br />

constantly interact with navigation and<br />

geolocation gadgets that are built in most<br />

applications and devices.<br />

The maps of today are versatile real-time<br />

maps. Connected to online technologies –<br />

such as traffic sensors and GPS – they keep<br />

transforming before our eyes. Current<br />

navigation systems propose new routes<br />

when we miss a turn and adapt their<br />

suggestions to the way we play with them.<br />

We look for <strong>res</strong>taurants and shops through<br />

digital maps and some even date with the<br />

help of geolocation apps. Such daily tools<br />

influence our behaviour and thinking, the<br />

way we sense space and relate to it:<br />

“The ambition of “Charting the Digital” is<br />

to define what digital mapping is about and<br />

what it cultur<strong>all</strong>y entails, and to explore,<br />

as a new techno-cultural phenomenon,<br />

its impact on our spatial relations”, says<br />

Lammes.<br />

With her team, she has undertaken an<br />

extensive critical comparison of digital<br />

mapping practices, also in relation<br />

to traditional cartography and other<br />

related media forms. The <strong>res</strong>earch also<br />

encompasses the analysis of mapping<br />

interfaces, which act as technological<br />

mediators and induce users’ specific<br />

behaviour.<br />

Sybille Lammes: “Our own <strong>res</strong>earch team<br />

membershttps://erc.europa.eu/sites/<br />

<strong>all</strong>/themes/erc/images/gloss.png have<br />

become part of the study, by “going native”,<br />

i.e. becoming engaged and interacting<br />

with the material they study. They keep a<br />

journal about their experiences with the<br />

mapping interface and how they become<br />

acquainted with it”.<br />

PROJECT DETAILS<br />

Researcher (PI): Sybille Lammes<br />

Digital mapping for playful learning<br />

On the commercial side, Lammes’ team<br />

noted that highly successful and profitable<br />

digital mapping applications make use of a<br />

combination of gamification, connectivity<br />

and interactivity in their design. On this<br />

basis, they have developed a prototype<br />

of a location-based game: a mobile app<br />

named ‘Playfields’ that can be used to<br />

teach fieldwork to university students in<br />

a ‘hands on’ entertaining way. <strong>MBR</strong><br />

Image & <strong>res</strong>earcher picture: Courtesy S. Lammes<br />

Host institution: The University Of Warwick, United Kingdom<br />

Project: Charting the Digital: Digital Mapping Practices as<br />

New Media Cultu<strong>res</strong>, (Charting the Digital)<br />

ERC c<strong>all</strong>: Starting Grant , ERC-2011-StG, panel SH5<br />

Max ERC funding: 1,422,453 €<br />

Duration: From 2011-11-01 until 2016-10-31<br />

26


ERC STORY<br />

Malta Business Review<br />

A standard cancer care<br />

for pregnant women<br />

By Dr Frédéric Amant<br />

When cancer is diagnosed<br />

in an expecting mother, the<br />

decision whether or not to<br />

start chemotherapy during<br />

the pregnancy needs to<br />

strike a delicate balance<br />

between the well-being of<br />

the mother and that of the<br />

foetus. With ERC support, Dr<br />

Frédéric Amant is developing<br />

a standard, integrated<br />

approach for cancer care for<br />

pregnant women.<br />

Cancer in pregnancy is increasingly<br />

prevalent (1 to 2 in 2000 pregnancies in<br />

Europe), largely because of the recent<br />

trend to delay childbearing until a later<br />

age. While there is not yet evidence about<br />

the potential toxicity of chemotherapy<br />

on the foetus, as a precaution, this type<br />

of treatment has been largely avoided<br />

for pregnant women. Such approach<br />

gener<strong>all</strong>y led to delay in treatment,<br />

termination of pregnancy or premature<br />

induction of delivery.<br />

In the last 50 years, drug regulation has<br />

significantly evolved. However, pregnant<br />

women and their foetuses remained out<br />

of scope, due to the general reluctance of<br />

pharmaceutical companies and expectant<br />

mothers to engage in dedicated drug<br />

trials. “This creates the need and the<br />

opportunity to investigate the true<br />

relationship between chemotherapy<br />

and childbearing with the objective of<br />

developing evidence-based rather than<br />

opinion-based decision-making”, says Dr<br />

Frédéric Amant from the KU Leuven, in<br />

Belgium.<br />

A pilot study led by Dr Amant back in<br />

2012 showed that antenatal exposure<br />

to chemotherapy could over<strong>all</strong> be<br />

considered to be safe. This finding was<br />

internation<strong>all</strong>y recognized as a first step<br />

towards a standard of care for women<br />

with cancer during pregnancy. With an<br />

ERC Consolidator grant and the support<br />

of a multidisciplinary team of experts, Dr<br />

Amant is now securing robust evidence<br />

about the risk/safety profile for foetuses<br />

under mothers’ chemotherapy:<br />

PROJECT DETAILS<br />

Researcher (PI): Dr Frédéric Amant<br />

Host institution: Katholieke Universiteit Leuven,Belgium<br />

Project: Cancer treatment during pregnancy: from fetal<br />

safety to maternal efficacy, (CRADLE)<br />

ERC c<strong>all</strong>: Consolidator Grants , ERC-2014-CoG, panel<br />

Max ERC funding: 2,000,000 €<br />

Dr Amant: “The strength of our project<br />

lies in the integrated approach to<br />

this multifaceted problem of cancer<br />

in pregnancy, with two innovative<br />

methodological focus points: the use of<br />

an international patient registry of young<br />

women with cancer with a subregistry<br />

of women with pregnancy-associated<br />

breast cancer (the INCIP), along with<br />

the consultation of extensive biobanks.<br />

This al<strong>low</strong>s for unprecedented largescale<br />

clinical fol<strong>low</strong>-up studies as well as<br />

laboratory studies on patient biomaterial.”<br />

In addition, Dr Amant and his team fo<strong>res</strong>ee<br />

the application of cutting-edge models of<br />

human placental <strong>res</strong>earch to investigate<br />

the physiological basis of the placental<br />

barrier function. The <strong>res</strong>earchers hope the<br />

study will be a major step forward to the<br />

well-being of both mother and foetus in a<br />

pregnancy complicated by cancer, leading<br />

to the development of standard diagnostic<br />

and therapeutic approaches during this<br />

critical period. In addition, the findings<br />

could provide substantial impetus to further<br />

<strong>res</strong>earch in this emerging field. <strong>MBR</strong><br />

Image: ©Ann De Wulf<br />

Researcher image: ©Rob Stevens<br />

Duration: From 2015-10-01 until 2020-09-30<br />

www.maltabusinessreview.net<br />

27


Malta Business Review<br />

mbr news global round-up<br />

WHAT’S NEXT IN TRUMP’S AMERICA?<br />

THE FACEBOOK NEWS<br />

FIGHT …<br />

“Something like<br />

Reince Priebus will be chief of staff: The ultimate<br />

170 million people<br />

insider — the p<strong>res</strong>ident of the Republican<br />

in North America<br />

National Committee — got the biggest formal<br />

use Facebook every<br />

reward. Stephen Bannon of Breitbart News will<br />

day … Forty-four<br />

become chief strategist. <strong>MBR</strong><br />

percent of <strong>all</strong> adults<br />

in the United States<br />

say they get news from Facebook, and access to an audience of that<br />

size would seem to demand some kind of civic <strong>res</strong>ponsibility — an<br />

obligation to ensure that a group of people more sizable than the<br />

American electorate is not being misled.” <strong>MBR</strong><br />

THE FACEBOOK NEWS FIGHT …<br />

“Something like 170 million people in North America use Facebook every day<br />

… Forty-four percent of <strong>all</strong> adults in the United States say they get news from<br />

Facebook, and access to an audience of that size would seem to demand some kind<br />

of civic <strong>res</strong>ponsibility — an obligation to ensure<br />

that a group of people more sizable than the<br />

American electorate is<br />

“A fake story claiming Pope Francis —<br />

actu<strong>all</strong>y a refugee advocate — endorsed<br />

Mr. Trump was shared almost a million<br />

times, likely visible to tens of millions,”<br />

Zeynep Tufekci, an associate professor at the<br />

University of North Carolina who studies the<br />

social impact of technology, said of a recent<br />

post on Facebook. “Its correction was barely<br />

heard. Of course, Facebook had significant<br />

influence in this last election’s outcome.” <strong>MBR</strong><br />

not being misled.” <strong>MBR</strong><br />

The social platform provides<br />

news to more Americans<br />

than any other organization.<br />

But after the election, it’s<br />

come under fire for helping<br />

disseminate fake news.<br />

Mark Zuckerberg, the CEO<br />

and founder of Facebook,<br />

said that he believes the<br />

idea that Facebook helped<br />

influence the election by<br />

spreading false information<br />

is “pretty crazy”. <strong>MBR</strong><br />

Meet Keith Ellison, an<br />

African-American Muslim<br />

cong<strong>res</strong>sman from<br />

Minnesota who hopes<br />

to run the Democratic<br />

Party and bring it back to<br />

power. <strong>MBR</strong><br />

Sunday sniping: Meanwhile,<br />

the P<strong>res</strong>ident-elect spent<br />

Sunday morning tweeting<br />

attacks against the New York<br />

Times. He also form<strong>all</strong>y<br />

asked that a jury trial into<br />

the activities of Trump<br />

University be delayed until<br />

after inauguration. <strong>MBR</strong><br />

The election of Trump<br />

casts a shadow over<br />

the Cuban thaw,<br />

From El Pais. <strong>MBR</strong><br />

Trump will have vast powers,<br />

and can thank Democrats for<br />

them: Glenn Greenwald goes<br />

for the jugular against centrist<br />

democrats. <strong>MBR</strong><br />

Memories: the best Obama<br />

pics from 8 years in office, by<br />

Pete Souza, the Chief Official<br />

White House Photographer, <strong>MBR</strong><br />

Max Read has an epic take down<br />

here: “Lies and exaggerations have<br />

always been central to real political<br />

campaigns; Facebook has simply<br />

made them easier to spread, and<br />

discovered that it suffers no<br />

particular market punishment<br />

for doing so … <strong>MBR</strong><br />

Bernie Sanders has an<br />

offer – and a warning, as his<br />

Sanders revolution comes<br />

back in business: <strong>MBR</strong><br />

IN OTHER NEWS …<br />

EUROZONE — OBAMA CALLS FOR ‘MEANINGFUL’<br />

GREEK DEBT RELIEF: In a wide-ranging interview with<br />

Kathimerini before a two-day visit starting tomorrow,<br />

the U.S. P<strong>res</strong>ident tackled everything from debt to<br />

democracy. “Despite facing extraordinary economic<br />

hardships, Greece is one of five NATO Allies that spend<br />

2 percent of GDP on defense. We thank our Greek <strong>all</strong>ies<br />

for our close cooperation at Souda Bay … <strong>MBR</strong><br />

Repudiating the American power<br />

structure, not celebrating hate:<br />

That’s former Clinton administration<br />

official Robert Reich’s take. <strong>MBR</strong><br />

BREXIT — SADIQ KHAN TELLS<br />

REMAINERS TO STOP WHINGEING:<br />

Tom McTague and Alex Spence<br />

interview the London mayor. <strong>MBR</strong><br />

UNDERSTANDING POPULISM …<br />

<strong>MBR</strong><br />

It’s easy to hate Trump<br />

but important to learn<br />

from him: Martin Kettle<br />

for The Guardian <strong>MBR</strong><br />

Start building bridges<br />

if you want to stop<br />

another world war. <strong>MBR</strong><br />

WHAT NORWEGIANS ARE FRANCE — JUPPÉ AHEAD<br />

TALKING ABOUT: IKEA recreated IN REPUBLICAN PRIMARY,<br />

the home of a Syrian family OTHERS CLOSING:<br />

ravaged by the country’s war, in The moderate candidate<br />

an Oslo IKEA store. <strong>MBR</strong><br />

Alain Juppé has 36<br />

percent of first-round<br />

voters in his corner. But<br />

it’s François Fillon unsettling the field with a big gain to reach 18<br />

percent support in the latest survey. In a two-horse race between<br />

Juppé and Nicholas Sarkozy, Juppé has 59 percent support. <strong>MBR</strong><br />

“With the rise of populist movements and<br />

questions about the future of European<br />

integration, my visit to Greece – the birthplace<br />

of democracy and an inspiration for America’s<br />

founders – will be a chance to reaffirm the<br />

enduring values of democratic governance,<br />

diversity and tolerance<br />

that help keep us<br />

strong.”<br />

<strong>MBR</strong> News Round-Up<br />

will on a regular basis<br />

share inte<strong>res</strong>ting articles<br />

that shed light on who –<br />

and what – is driving the<br />

establishment backlash<br />

across the West.<br />

<strong>MBR</strong><br />

Condescension feeds Trump: David<br />

Brooks writes in the New York Times<br />

that “populism of the Trump/Le Pen/<br />

Brexit variety has always been<br />

a warning sign, a warning sign<br />

that there is some deeper<br />

dysfunction in our economic,<br />

social and cultural systems. If you<br />

want to take that warning sign<br />

and dismiss it as simple bigotry,<br />

you’re never going to pause to<br />

understand what’s going on<br />

and you will never know how to<br />

constructively <strong>res</strong>pond.” <strong>MBR</strong><br />

The class culture gap: “The white working<br />

class (WWC) <strong>res</strong>ents professionals but admi<strong>res</strong><br />

the rich … The dream is not to become uppermiddle-class,<br />

with its different food, family, and<br />

friendship patterns; the dream is to live in your<br />

own class milieu, where you feel comfortable<br />

— just with more money … Hillary Clinton, by<br />

contrast, epitomizes the dorky arrogance and<br />

smugness of the<br />

The Women who<br />

helped Trump to<br />

victory: They were<br />

disgusted by his comments but<br />

their vote “wasn’t so much about<br />

voting against Hillary Clinton, but<br />

about the change they thought<br />

Mr. Trump would enact.”<br />

<strong>MBR</strong><br />

professional elite. The<br />

dorkiness: the pantsuits.<br />

The arrogance: the<br />

email server. The<br />

smugness: the basket<br />

of deplorables.” Joan C.<br />

Williams with a great<br />

long read here. <strong>MBR</strong><br />

FRANCE — REMEMBERING PARIS ATTACKS, even as the French<br />

government gets ready to extend the state of emergency <strong>MBR</strong><br />

BRUSSELS CORNER …<br />

Memorial for Brussels Attacks set for<br />

Soignes Fo<strong>res</strong>t: 32 trees will be planted in<br />

their memory. They will be planted on the<br />

21st of March, the first day of spring, and<br />

an area not far from the La Hulpe road<br />

in Watermael-Boitsfort, near a Tumulis<br />

footpath, is the favored location. <strong>MBR</strong><br />

28<br />

Source: POLITICO newsletter family; Brussels Playbook; Morning Exchange


FINANCIAL SERVICES<br />

Malta Business Review<br />

Malta Stock Exchange Institute<br />

By Special Cor<strong>res</strong>pondent<br />

Since 2015, the MSE has held the<br />

Annual Investor Conference, aimed, as<br />

its name indicates, at the general body<br />

of investors, where financial matters,<br />

particularly those related to capital<br />

markets are explained and discussed in<br />

simple and understandable terms.<br />

The MSE has now consolidated its<br />

training efforts and initiatives into<br />

one body, the Malta Stock Exchange<br />

Institute, that sh<strong>all</strong> be <strong>res</strong>ponsible to<br />

organise a number of short courses on<br />

a number of subjects not only related to<br />

the capital market itself, but within the<br />

wider scope of financial services. It is<br />

our belief that the Malta Stock Exchange<br />

Institute has the potential to become<br />

a pre-eminent financial institution<br />

enhancing financial education in Malta<br />

for individual investors and industry<br />

practitioners alike.<br />

The financial services sector has been<br />

one of the key drivers of our country’s<br />

ongoing prosperity. As the industry<br />

grows, so does the demand for well<br />

trained and qualified professionals to<br />

meet the financial sector’s ever growing<br />

human <strong>res</strong>ource needs.<br />

The Malta Stock Exchange Institute is<br />

innovative in that the level of courses<br />

offered are aimed at participants with<br />

various levels of knowledge, from<br />

the sm<strong>all</strong> investor to students and<br />

practitioners, or simply those who want<br />

to know more about financial matters.<br />

Also some of the courses, where<br />

appropriate, will be held in Maltese;<br />

however the majority will be taught<br />

in English. While the courses offered<br />

are intended to be taken individu<strong>all</strong>y,<br />

participants are encouraged to continue<br />

courses through the different levels, and<br />

to eventu<strong>all</strong>y attain their Diploma.<br />

The Exchange made every attempt to<br />

keep their course pricing within reach<br />

of the average citizen and will also be<br />

offering 50% discounts to both seniors<br />

and students. <strong>MBR</strong><br />

www.maltabusinessreview.net<br />

29


Malta Business Review<br />

cost<br />

COST: Growing ideas through <strong>res</strong>earch<br />

and innovation networks<br />

By Janet Mifsud<br />

Many SMEs may ask but how does one<br />

get involved in an EU project? How do<br />

potential EU partners find me, is there a<br />

simple ‘learn how to’ for EU funds? How<br />

can I help my idea grow through <strong>res</strong>earch<br />

and innovation? COST is the answer. But<br />

what is COST?<br />

early career<br />

investigation<br />

geographical<br />

coverage<br />

gender<br />

COST (European Cooperation in Science and<br />

Technology) (www.cost.eu) is the longestrunning<br />

European <strong>res</strong>earch framework,<br />

supporting networking and knowledge<br />

sharing amongst science and technology<br />

communities in Europe. COST has been a<br />

building block of Europe’s <strong>res</strong>earch world for<br />

nearly 50 years. It is an intergovernmental<br />

organisation, with 37 Member States<br />

spanning the European continent. It funds<br />

networks across borders and often across<br />

scientific disciplines, interlinking nation<strong>all</strong>y<br />

funded <strong>res</strong>earchers and innovators.<br />

In <strong>all</strong>, nearly 40 000 <strong>res</strong>earchers every<br />

year (including around 300 from Malta)<br />

participate in COST. COST works mainly<br />

through what we c<strong>all</strong> a COST Action. This is<br />

a network of <strong>res</strong>earchers, industry, SMEs,<br />

NGOs and other inte<strong>res</strong>ted parties focused<br />

in a particular area, collaborating across<br />

borders. A COST Action funds conferences,<br />

workshops, short-term scientific missions,<br />

training schools, publications and other<br />

communications tools to link the participants<br />

together over four years. Thus it contributes<br />

greatly to narrowing the gap between<br />

science, industry, policy makers and society.<br />

Co-operation in COST is inclusive and open,<br />

fosters new and excellent ideas through the<br />

sharing of knowledge (see Figure 1).<br />

Figure 1 Co-operation in COST is inclusive<br />

and open, fostering new and excellent ideas<br />

through the sharing of knowledge between<br />

SMEs, industry, academia in international cooperation.<br />

A huge advantage of COST for Malta is that<br />

each COST country is al<strong>low</strong>ed to nominate<br />

two rep<strong>res</strong>entatives per action ir<strong>res</strong>pective<br />

of size, thus ensuring inclusiveness and<br />

widening. Thus Malta can nominate two<br />

<strong>res</strong>earchers on each action just like many<br />

other bigger countries. COST is, in fact,<br />

the cornerstone of the European <strong>res</strong>earch<br />

funding landscape since it opens up huge<br />

networks to sm<strong>all</strong>er and more peripheral<br />

COST countries, such as Malta.<br />

international<br />

cooperation<br />

Malta in COST<br />

Malta first joined COST in 1996 before it<br />

became a full EU member in 2004. The<br />

Malta Council for Science and Technology,<br />

as the managing authority for COST in<br />

Malta, then recognised the key role COST<br />

participation could have in facilitating the<br />

entry of <strong>res</strong>earchers based in Malta to wider<br />

European Research networks and funds<br />

such as in the Framework Programmes.<br />

Moreover the wide range of networking<br />

activities (tools) supported by COST, such as<br />

meetings, workshops, short term scientific<br />

missions, publications, and training<br />

schools, made it even more amenable to<br />

<strong>res</strong>earchers based in Malta. Since 2011,<br />

Malta has participated in a constantly<br />

excellence<br />

&<br />

inclusiveness<br />

COST<br />

ACTON<br />

Figure 1<br />

SME<br />

&<br />

industry<br />

cooperation<br />

growing number of running COST Actions.<br />

In 2015, nearly 300 <strong>res</strong>earchers based in<br />

Malta from academia, industry, SMEs and<br />

public entities were participating in 157<br />

COST Actions.<br />

Researchers based in Malta are<br />

participating in COST actions ranging<br />

from <strong>res</strong>earch in basic science such as<br />

drug <strong>res</strong>istance in cancer stem cells, to<br />

more applied science such as soil erosion,<br />

3D video coding, transport accessibility,<br />

tracking water vapour in the atmosphere<br />

with GPS satellites, for climate change;<br />

setting up databases so public-policy<br />

<strong>res</strong>earchers can compare local-government<br />

30


cost<br />

Malta Business Review<br />

reforms. SMEs and public entities in Malta<br />

are participating in COST actions on digital<br />

printing, next generation photovoltaics,<br />

wind energy, food industry, water quality,<br />

construction and sustainable architecture.<br />

In recent years, thanks to COST, Maltese<br />

institutions have also gained increasing<br />

visibility thanks to the organisations of<br />

meetings, Training Schools and short<br />

term scientific missions, helping to<br />

strengthen the existing networks and foster<br />

collaboration links between <strong>res</strong>earchers,<br />

institutions and ultimately countries.<br />

Conclusion<br />

Over the course of its 40 year history,<br />

COST has provided a unique approach<br />

that enables the sharing of concepts and<br />

scientific developments across 35 European<br />

countries and has even attracted the<br />

participation of many non EU countries. It<br />

also promotes interdisciplinary approaches,<br />

knowledge sharing, talent development<br />

and assists <strong>res</strong>earch and industrial<br />

communities in finding their own ways to<br />

tackle important societal ch<strong>all</strong>enges.<br />

Researchers based in Malta are now<br />

integrated in each part of the COST process,<br />

from participation in the high level policy<br />

Committee of Scientific Officers (CSO),<br />

having a rep<strong>res</strong>entative on the strategic<br />

Committee of Scientific Experts, a full cohort<br />

of eighteen Review Panel Experts and also<br />

close to 300 COST experts. Malta’s success<br />

in COST has often been<br />

highlighted by the COST Association<br />

and Malta has even been invited to be<br />

Vice-Chair for the COST working group<br />

on Inclusiveness and Widening. In fact in<br />

December 2016 Malta has been invited<br />

to host the COST Committee of Scientific<br />

Officers in the new interactive science<br />

centre in Kalkara, Esplora, as one of the<br />

first pre-P<strong>res</strong>idency meetings to be held in<br />

preparation of Malta’s P<strong>res</strong>idency of the EU<br />

Council in 2017.<br />

Malta’s participation and investment in<br />

COST has <strong>res</strong>ulted in better exposure<br />

opportunities for various parties. More<br />

importantly, the younger cohort of<br />

<strong>res</strong>earchers have been given an invaluable<br />

opportunity to increase their contacts circles<br />

in their fields of inte<strong>res</strong>t. This, coupled with<br />

opportunities for participation in <strong>res</strong>earch<br />

on a European scale, opportunities for<br />

specialisation through joint collaborations<br />

and opportunities to showcase our<br />

local potential, continue to support and<br />

advocate Malta’s necessity to participate<br />

in this programme and acts as an incentive<br />

for local participation in COST actions to<br />

continue to be supported and encouraged.<br />

COST has also always been a frontrunner<br />

in bridging the gap between policy,<br />

<strong>res</strong>earch and end users, by promoting<br />

connections between COST Actions and<br />

other European S&T policy concepts with<br />

relevant stakeholder communities. It has<br />

provided the basis for increased societal<br />

impact of <strong>res</strong>earch and S&T innovation in<br />

Europe and beyond. <strong>MBR</strong><br />

Participating in COST requi<strong>res</strong> a very<br />

simple application process with minimal<br />

administration. COST in Malta is managed<br />

by the Malta Council for Science and<br />

Technology. For more information see<br />

http://www.mcst.gov.mt/Horizon2020/<br />

COST.aspx or email the National Contact<br />

Point, Prof Janet Mifsud<br />

janet.mifsud@um.edu.mt<br />

COST National Contact Point,<br />

COST Malta Rep<strong>res</strong>entative on the<br />

Committee of Scientific Officers,<br />

Malta Council for Science and Technology,<br />

Kalkara, Malta<br />

EDITOR’S NOTE<br />

Janet Mifsud B.Pharm<br />

(Hons)(Melit.);PhD<br />

(QUB); BA (Theology)<br />

(Melit.)<br />

Prof Janet Mtifsud is<br />

national co-ordinator<br />

(CNC and CSO) for COST<br />

– European Cooperation<br />

in Science and<br />

Technology, for the Malta Council of Science<br />

and Technology (MCST). She is Associate<br />

Professor in the Department of Clinical<br />

Pharmacology and Therapeutics, University<br />

of Malta and has participated in various EU<br />

projects. She is a board member for MCST<br />

and is involved in science <strong>res</strong>earch policy<br />

and dissemination. She has been appointed<br />

several times as peer expert evaluator for EU<br />

<strong>res</strong>earch projects.<br />

www.maltabusinessreview.net<br />

31


Malta Business Review<br />

HIGHER EDUCATION<br />

eie educational group<br />

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Commited to Providing the Best<br />

Education Learning Experience<br />

Learning a language or obtaining an<br />

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Educational Group provide students with<br />

a first-class educational teaching and<br />

training service at a fair price. Students ask<br />

for an excellent teaching environment so<br />

that they quickly prog<strong>res</strong>s through their<br />

course, but also that they will want to<br />

enjoy themselves whilst studying. At eie<br />

Educational Group, you will have a fantastic<br />

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interaction trough regular, fun and varied<br />

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eie Educational Group, was established in<br />

January 2000 and their success is built on a<br />

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eie constantly expands its worldwide<br />

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eie Educational Group is redefining the<br />

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The eie Educational Group aims to<br />

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In a fast moving world, ch<strong>all</strong>enges are<br />

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eie Institute of Education (Licensed<br />

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• Training programmes - Business<br />

courses, thematic seminars for<br />

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trough eie Mangement Centre;<br />

• English Language courses - English<br />

courses at Beginner, Elementary,<br />

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offered through eie Languages<br />

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Monitoring Board – License<br />

Number 282/MB42)<br />

• Student Accommodation - Provision<br />

of quality accommodation around<br />

Malta ideal for students offered<br />

through eie Residences<br />

• Internships – Organisation of<br />

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through eie internships. <strong>MBR</strong><br />

eie Mission<br />

To enhance the level of Academic<br />

training and Tuition of both pre and<br />

post graduate levels by:<br />

• Contributing actively towards the<br />

propagation of equal opportunities<br />

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• Continu<strong>all</strong>y engaging in the pursuit of<br />

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• Continu<strong>all</strong>y investing in its own<br />

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• Striving to afford the best service to<br />

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• Establishing itself as a leader in the<br />

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• Contributing towards the social<br />

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For more information about eie’s degree<br />

programmes, English language courses<br />

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32


eie educational group<br />

COMMITMENT TO EXCELLENCE<br />

The eie educational group<br />

is an acknowledged leader in international education<br />

<strong>MBR</strong><br />

We specialise in providing<br />

* Higher Educational courses - eie Institute of Education (NCFHE License Number 2005 - TC - 001)<br />

* English Language courses - eie Languages Centre (EFL License Number 282/MB42)<br />

* Executive and Business courses - eie Management Centre<br />

* Internship services - eie Internships<br />

* Student Accommodation - eie Residences<br />

* International Educational services - eie International<br />

eie educational group,<br />

Tel: +356 21 332804/5 info@eie-group.com<br />

www.eieEducationalGroup.com


Malta Business Review<br />

tourism<br />

World Travel Market<br />

Minister for Tourism guest speaker at the United Nations of<br />

World Travel Organisation (UNWTO) Ministers’ Summit<br />

During the World Travel Market in London,<br />

the Minister for Tourism Dr Edward<br />

Zammit Lewis participated and was chosen<br />

to be part of the main panellists during<br />

the tenth edition of the United Nations<br />

of World Travel Organisation (UNWTO)<br />

Ministers’ Summit, moderated by CNN<br />

Cor<strong>res</strong>pondent Becky Anderson.<br />

The theme of the discussion was Tourism<br />

and Security: promoting safe and seamless<br />

travel. During his add<strong>res</strong>s, the Minister for<br />

Tourism stated that safety and security are<br />

integral parts of any tourism experience.<br />

Tourism gener<strong>all</strong>y involves people<br />

travelling for enjoyment outside of their<br />

usual environment, meaning people need<br />

to travel with the peace of mind necessary<br />

for enjoyment of their leisure time.<br />

“The complex nature of tourism which<br />

integrates in a complex manner with the<br />

host community and the entire territory<br />

of the destination make the management<br />

of tourism safety and security a multidisciplinary<br />

action. This means that such<br />

risks need to be assessed, managed and<br />

discussed by a multitude of agencies each<br />

possessing different areas of competence,<br />

power and expertise. In such situations a<br />

lead agency needs to be identified for <strong>all</strong><br />

contingencies concerned”, the Minister<br />

continued.<br />

Futhermore, the Minister emphasised that<br />

the leadership of international bodies such<br />

as the UNWTO, WHO and others is integral<br />

to the successful management of such<br />

situations particularly when they reach<br />

crisis levels.<br />

“In today’s globalised world there is no<br />

such thing as gaining from the misfortune<br />

of other destinations. Most of the safety<br />

and security concerns which negatively<br />

influence tourism eventu<strong>all</strong>y set off a chain<br />

reaction along the tourism supply chain<br />

which ultimately negatively influences<br />

over<strong>all</strong> tourism worldwide”.<br />

During the World Travel Market, P<strong>res</strong>ident<br />

of Malta Marie-Louise Coleiro Preca, and<br />

Minister for Tourism Dr Edward Zammit Lewis<br />

were form<strong>all</strong>y invited to a networking event<br />

by the Malta High Commission in London<br />

aimed at both local and foreign operators<br />

operating in the tourism sector in Malta.<br />

During this event, the Minister noted that<br />

the World Tourism Organisation (WTO) has<br />

praised the growth of the tourism sector<br />

in Malta by referring to it as ‘robust and<br />

positive’. In addition, the Minister pointed<br />

out that the latest WTO Barometer<br />

published in September 2016 notes that<br />

global tourism between January and June<br />

of this year rose by 4% whereas, for this<br />

same period, arrivals to Malta rose above<br />

this average, specific<strong>all</strong>y by 9.7%. The<br />

Minister for Tourism stated that<br />

Government is making inroads with regards<br />

to our policy objectives, that of reducing<br />

seasonality patterns. He reiterated that<br />

between January and March of this year,<br />

arrivals increased by more than 13% to<br />

reach 282,000.<br />

The Minister for Tourism Dr Edward<br />

Zammit Lewis, together with senior Malta<br />

Tourism Authority officials, also attended<br />

a number of meetings with current and<br />

forthcoming tour operators and travel<br />

agencies inte<strong>res</strong>ted in its tourism market.<br />

During these meetings Dr Zammit Lewis<br />

discussed the Maltese tourism product,<br />

proposals from the same operators and<br />

how Government intends to advance the<br />

tourism product. In addition, the Tourism<br />

Minister held a series of meetings with<br />

various airlines operators and examined<br />

the prospects of opening new routes to/<br />

from our sho<strong>res</strong>.<br />

In light of the Brexit issue, the Minister<br />

for Tourism held meetings add<strong>res</strong>sing<br />

the British tourism market with travel<br />

operators and reaffirmed the Government<br />

position that British tourist visiting the<br />

Maltese Islands in post-Brexit would<br />

continue to benefit from same conditions.<br />

The Minister received very positive<br />

feedback on the UK source market from<br />

the main tour operators for 2017.<br />

The World Travel Market is the prime<br />

tourism fair held annu<strong>all</strong>y in London<br />

with more than 50,000 visitors, mainly<br />

operators from the international tourism<br />

sphere. <strong>MBR</strong><br />

Photo Credit: MOT<br />

Creditline: Ministry for Tourism/DOI<br />

34


THE BAIT<br />

Malta Business Review<br />

Beating the Death Clock<br />

By Simon Garveen<br />

Like many of my successful friends and<br />

acquaintances, I have been giving much<br />

thought to what will happen when I, as is<br />

inevitable, f<strong>all</strong> off the perch. I suppose that<br />

starts being a concern for most people<br />

who have a decent wedge of assets once<br />

they pass the age of 45 – or who have had<br />

any sort of health scare to concentrate<br />

their minds.<br />

I have five kids (from two wives) and I<br />

definitely don’t want to demotivate them.<br />

I think their lives could be ruined if they<br />

think that <strong>all</strong> they need do is sit around<br />

and wait to inherit. I have seen too many<br />

“trustafarians” do just that and end up<br />

wasting their lives. So I have always kept<br />

my older kids on a fairly tight rein, helping<br />

them out when absolutely necessary but<br />

telling them that they have to earn their<br />

own money and budget accordingly.<br />

Why not? I made my own money and<br />

that “journey” has been a fulfilling and<br />

rewarding one.<br />

I keep telling my kids not to expect any<br />

money when I am gone because I am<br />

either going to spend it or give it away to<br />

charity. I will give them the best education<br />

possible, help them buy their first house<br />

and then they’re on their own. In fact, I<br />

do intend leaving them something, but<br />

I have decided not to tell them so that<br />

they expect the worst and take whatever<br />

comes.<br />

Thought. If you don’t need the money and<br />

don’t want to leave it <strong>all</strong> to your children,<br />

what do you do with the <strong>res</strong>t? I already<br />

give reasonable sums to charity. I could<br />

of course dispose of the <strong>res</strong>t by leaving<br />

charitable bequests in my will but I would<br />

rather see play a more active role so that<br />

I know the money is being used well and I<br />

can actu<strong>all</strong>y see the <strong>res</strong>ults.<br />

I have therefore decided to set up my<br />

own charity. I can inject a large sum<br />

and that takes it out of my estate<br />

for inheritance tax purposes.<br />

It also means that whatever<br />

additional money accrues<br />

from the assets will belong<br />

to the charity rather than<br />

me, and that means it<br />

won’t be taxed. This way<br />

I can retain control of the<br />

money – by owning and<br />

controlling the charity – and ensure that<br />

it only benefits my chosen projects and<br />

causes.<br />

I have discovered that it’s surprisingly<br />

simple to set up a charity. I can either set<br />

up a trust or incorporate a company limited<br />

by guarantee. They will then produce a<br />

business plan and write to the Charities<br />

Commission to request official recognition<br />

as a charity, which gives the structure tax<br />

free status. This also means that anyone<br />

donating money gets a tax deduction<br />

– including me. I will own the voting<br />

memberships in the charity so I will be able<br />

to appoint directors of my choice (which<br />

will probably include me) and manage and<br />

control it, but the capital and income can<br />

only be distributed to charitable causes<br />

or to further the charitable aims of the<br />

structure.<br />

This seems to me by far<br />

the best solution. An<br />

added bonus is that the<br />

charity can also employ<br />

people so if my show an<br />

inte<strong>res</strong>t – or I think they<br />

could learn something by<br />

being involved – they can be<br />

employed on a market salary<br />

to help out and do good work.<br />

I don’t see them doing this<br />

on a permanent basis –<br />

they are <strong>all</strong> too<br />

ambitious<br />

f o r<br />

that – but it would be good experience<br />

and it would also be a great opportunity<br />

for them to work with their old man and<br />

find out what makes him tick. Now that<br />

would be a legacy!<br />

Rather than prevaricate any longer, I am<br />

going to get on with setting up my charity<br />

next week. After <strong>all</strong>, you never know what<br />

is going to happen or how long you have<br />

got – although somebody did suggest that<br />

I consult www.deathclock.com, which tells<br />

you exactly when you are going to shuffle<br />

off this mortal coil. I hope it is accurate<br />

because it gave me another 45 years, 2<br />

months and 10 days – which means that<br />

even my youngest child will be older than I<br />

am now. And that’s a long time to wait for<br />

a surprise. <strong>MBR</strong><br />

www.maltabusinessreview.net<br />

35


Malta Business Review<br />

DENTAL HEALTHCARE<br />

Missing Molars<br />

Are you one of those patients missing your molars on one or both sides either, top or bottom jaws…. or both? If so, for how<br />

long have you missed out on chewing on your back teeth? Missing your molars is a very common scenario, which often goes<br />

untreated for a very long time. This is mostly due to the fact that in most individuals these teeth aren’t visible with the normal<br />

aperture of the mouth.<br />

Effects of lack of posterior teeth:<br />

1. Tooth-wear:<br />

Biting and having to chew on just the<br />

front teeth leads to tooth-wear. Over a<br />

long period these front teeth lose height<br />

and appear very smooth as they are being<br />

overused.<br />

2. Tooth fracture:<br />

These anterior teeth are far weaker than<br />

their posterior neighbours, <strong>res</strong>ulting in<br />

micro-cracks which may lead to tooth<br />

fracture and/or de-coronation (breaking<br />

the crown of the tooth leaving just the<br />

roots).<br />

3. Tooth mobility:<br />

Teeth are supported in their sockets thanks<br />

to the gingival tissue, in particular to the<br />

periodontal ligament fib<strong>res</strong> attaching<br />

them to bone. If teeth are under excessive<br />

st<strong>res</strong>s then this ligament suffer and with<br />

time teeth start moving <strong>res</strong>ulting in tooth<br />

loss. This may also cause the teeth to drift<br />

outwards, splaying themselves increasing<br />

the spaces between them.<br />

4. Tooth pain:<br />

overloading of the anterior teeth may<br />

<strong>res</strong>ult in them dying off requiring root canal<br />

treatment and further prosthetic work.<br />

5. Bone loss:<br />

Loss of posterior teeth in either jaw <strong>res</strong>ults<br />

in bone loss as the bone does not receive<br />

a stimulus due to the lack of tooth roots.<br />

Over a long period, the volume of bone<br />

loss may be very large. This would mean<br />

that if implants are planned, bone grafting<br />

would be required increasing the element<br />

of surgery for the patient and complexity<br />

for the Dentist.<br />

6. Tooth migration:<br />

Missing teeth would cause p<strong>res</strong>ent teeth<br />

to drift into the <strong>res</strong>ultant space creating<br />

odd contacts on chewing, excessive toothwear<br />

facets as well as inconvenient food<br />

packing around the remaining teeth.<br />

Upper teeth often over-erupt into the<br />

space of the <strong>low</strong>er missing teeth due to<br />

lacking their antagonist to chew on. Over a<br />

number of years these upper molars may<br />

completely descend into the space of the<br />

<strong>low</strong>er missing molars causing traumatic<br />

biting onto the gum. These upper teeth<br />

would also appear very long, exposing<br />

their roots reducing their aesthetics.<br />

Adding insult to injury these upper overerupted<br />

teeth would on closure of the<br />

anterior teeth, take up the space of the<br />

missing <strong>low</strong>er posterior teeth not leaving<br />

any space for the dentist to replace the<br />

<strong>low</strong>er missing teeth.<br />

7. Dento-Facial aesthetics:<br />

Cheeks tend to collapse inwards <strong>res</strong>ulting<br />

in poorer aesthetics giving rise older<br />

looking appearance.<br />

8. Digestive problems:<br />

Chewing our food mixed with our saliva is<br />

the first stage of digestion. If food is not<br />

chewed but gobbled instead, this may<br />

<strong>res</strong>ult in indigestion and acid build-up.<br />

Patients, who lack posterior teeth, also stir<br />

away from eating certain foods <strong>res</strong>ulting in<br />

a lack of nutritional intake.<br />

The list goes on and on. It is never too late<br />

to replace your missing posterior dentition<br />

both with removable or fixed teeth. The<br />

repercussions are serious.<br />

Take action now and ask your dentist<br />

for advice! <strong>MBR</strong><br />

A Case Study<br />

A young man has lost his right six posterior teeth, three upper and three <strong>low</strong>er. This<br />

scenario only al<strong>low</strong>s him to chew on his left side overloading his remaining teeth. It was<br />

decided to place two upper and two <strong>low</strong>er implants to replace three teeth in either jaw.<br />

His dentition is now fully functional and balanced. He can now chew on both sides.<br />

Dr Jean Paul Demajo<br />

Is a Dental and Implant Surgeon, Trained in<br />

London working in private practice in Malta<br />

36


Medical Tourism<br />

Malta Business Review<br />

Malta, France Looking At Healthcare Business Opportunities<br />

Strategy based on 3 pillars: Medical R&D, Medical Training and Medical Tourism<br />

By James Vella Clark<br />

The excellent relationship between France<br />

and Malta and the success enjoyed by<br />

those French businesses already operating<br />

in Malta’s medical and healthcare sectors,<br />

is what is encouraging <strong>all</strong> those who are<br />

showing an inte<strong>res</strong>t in investing in Malta.<br />

This was the most salient point that<br />

emerged from a half day conference<br />

organised by the Maltese French Chamber<br />

of Commerce themed ‘Healthcare<br />

Business in the Mediterranean’. The event<br />

was add<strong>res</strong>sed by a number of speakers<br />

who dealt with the opportunities that<br />

Malta can offer in the fields of medical<br />

<strong>res</strong>earch and development, medical<br />

training and medical tourism.<br />

In his opening add<strong>res</strong>s, Joseph Bugeja,<br />

P<strong>res</strong>ident of the Malta French Chamber<br />

of Commerce explained how Malta<br />

has been experiencing a lot of recent<br />

developments in the medical sector.<br />

“Malta is developing a lot in the field of<br />

<strong>res</strong>earch and development, generics,<br />

pharmacology and this is creating a lot<br />

of new opportunities when it comes<br />

to attracting more R&D, experts and<br />

students for medical training and medical<br />

tourists seeking wellness programs in<br />

Malta. The Maltese French Chamber<br />

of Commerce wants to assist French<br />

businesses leverage these opportunities<br />

for the benefit of both countries.”<br />

French Ambassador to Malta H.E. Ms<br />

Béatrice le Fraper du Hellen had words of<br />

praise for Malta and its proactive approach.<br />

“In France, businesses have started<br />

looking at Malta as a serious hub for<br />

medical <strong>res</strong>earch and development,<br />

training and logistics hub and as a possible<br />

platform for bridging the business gap<br />

with North Africa and the Gulf region.<br />

Malta’s strong digital economy, its welleducated<br />

workforce and easy access to<br />

regulating authorities are proof of the<br />

country’s openness to business.”<br />

The Ambassador noted how there had<br />

been a tendency by French companies to<br />

look at Malta as a sm<strong>all</strong> and limited country.<br />

“This idea is changing because Malta has<br />

a vision and a strategy and businesses<br />

can now communicate with Maltese<br />

counterparts and do business together.<br />

We now know that it’s much easier for a<br />

French company to get an export license<br />

from Malta to operate outside the EU, in<br />

some sectors or for some products, than<br />

from France itself. We need to rethink the<br />

way we sell Malta to France since both<br />

countries can collaborate a lot especi<strong>all</strong>y<br />

in the medical field. The opportunities that<br />

Malta can offer are being so well p<strong>res</strong>ented<br />

that it makes it much easier for me to sell<br />

Malta to the French business market.”<br />

Hon Chris Fearne, Minister for Health<br />

spoke about the country’s vision for the<br />

development of the health sector in the<br />

coming years.<br />

“Malta has always had excellent health<br />

services. Today we have an excess capacity<br />

of beds, operating theat<strong>res</strong> and hospitals.<br />

Medical Conference - French Mbassador<br />

This brings an opportunity to attract<br />

foreign patients to benefit from our health<br />

services. Malta will also be looking at<br />

becoming an important player in clinical<br />

<strong>res</strong>earch and trials. Malta also has a long<br />

history in medical education and this helps<br />

us attract foreign students to specialised<br />

schools and post-grad education.”<br />

Minister Fearne also mentioned how in<br />

the eventuality of a Brexit, Malta will be<br />

lobbying to host the European Medicines<br />

Agency, currently found in London, which<br />

will open up endless opportunities for<br />

more investment in the sector.<br />

Other speakers included Margot<br />

Pisani, Malta’s Country Manager at<br />

pharmaceutical company Sanofi, Dr<br />

Marcello Basile Cherubino, Country<br />

rep<strong>res</strong>entative of diagnostics and lab<br />

equipment company bioMérieux, Didier<br />

Bourguignon, Director of Business France<br />

Italy and Malta, Sri Ram Tumuluri, Director<br />

at Vitals Global Healthcare, Prof Nikolai<br />

J. Attard, Dean of the Faculty of Dental<br />

Surgery at the University of Malta, Clive<br />

Brockdorff, Head of Communications,<br />

Investment Promotion at Malta Enterprise<br />

and Dr Gilles Gutierrez, Director at the<br />

Institute of Cellular Pharmacology.<br />

“Malta has a strong role in the<br />

internationalisation of the French economy<br />

however, Malta and its business community<br />

can gain from this by leveraging on the<br />

endless opportunities that the healthcare<br />

business in the Mediterranean has to<br />

offer,” concluded the MFCC P<strong>res</strong>ident<br />

Joseph Bugeja. <strong>MBR</strong><br />

Medical Conference - Minister Chris Fearne<br />

Source: Corporate Idnetities<br />

www.maltabusinessreview.net<br />

37


Malta Business Review<br />

Case Study: Employer Branding<br />

The Employer Branding Tour – Tipico Careers<br />

By Thomas Mahoney<br />

Fol<strong>low</strong>ing last month’s introduction<br />

to this emerging concept we are now<br />

back with our first employer brand<br />

in the hot seat. This tour’s first stop<br />

takes us to Tipico, with its very popular<br />

award winning employer brand, Tipico<br />

Careers. Established in 2004, Tipico is<br />

the leading sports betting company in<br />

the German market. Headquartered at<br />

the Portomaso Business Tower in Saint<br />

Julian’s, Malta, Tipico offers a wide range<br />

of sports betting products, Casino and<br />

table games delivered through cuttingedge<br />

mobile and online channels.<br />

Tipico’s career brand is known to be a<br />

pioneer within the online gaming sphere.<br />

The brand is based on three main pillars;<br />

the working & office environment, the<br />

company’s success story and the Maltese<br />

Islands. The videos and clips on Tipicocareers.com<br />

and on the brand’s social<br />

media page captu<strong>res</strong> these areas quite<br />

well, whilst also outlining numerous<br />

employee benefits one would be entitled<br />

to once joining the Tipico family. As the<br />

brand slogan suggests; ‘We Invest in Our<br />

People’, Tipico Careers is purely dedicated<br />

to its employees whilst also educating the<br />

public about what the industry is <strong>all</strong> about,<br />

and what Tipico has to offer in terms of<br />

career paths and job opportunities.<br />

On my visit to Tipico’s offices the team<br />

outlined three of the most prominent<br />

initiatives the brand is currently focusing<br />

on. These are;<br />

Show prog<strong>res</strong>s<br />

Sigma Awards – November 2016 – Best Careers Program<br />

Employees at Tipico are constantly<br />

updated through a showcase of the<br />

company’s <strong>res</strong>ults. This is done through<br />

various methods; internal emails, weekly<br />

departmental meetings and C-level<br />

management conduct monthly meetings<br />

with the entire workforce. Tipico keeps<br />

employees informed to enable them to<br />

be involved in sustainability discussions<br />

and planning, which is an ongoing process.<br />

When disclosing such information,<br />

especi<strong>all</strong>y when showcased by C-level<br />

management, it shows the level of<br />

transparency offered by the company.<br />

Tipico invests time and money to produce<br />

an annual Tipico and Partners Conference,<br />

where colleagues from foreign offices are<br />

also invited to Malta. The objective behind<br />

the conference is to show the prog<strong>res</strong>sion<br />

achieved over the previous year and to<br />

p<strong>res</strong>ent the plans for the upcoming year,<br />

which continues to show consistency<br />

levels for improved prog<strong>res</strong>sion.<br />

AliIgnment of PR to be sure <strong>all</strong><br />

messaging is consistent<br />

It is important for companies to show<br />

alignment of PR and to be sure that <strong>all</strong><br />

messaging is consistent; this maintains a<br />

sense of trust, clarity and transparency.<br />

Tipico st<strong>res</strong>ses the impoortance that <strong>all</strong><br />

internal communication is consistent<br />

through its intranet, while it has its own<br />

corporate communications management<br />

to control and approve <strong>all</strong> external PR. This<br />

is a great investment to have within such a<br />

big organisation as it is easy to have existing<br />

silos and inconsistency gaps from PR and<br />

marketing communications.<br />

Provide meaningful incentives<br />

to encourage inte<strong>res</strong>t<br />

Forming part of such a competitive market<br />

for head hunting, companies have to invest<br />

to create the most attractive working<br />

environment. Tipico invests well in various<br />

benefits and other value added incentives,<br />

making it one of the best places to work<br />

in Malta. Such benefits and incentives<br />

within the company include health &<br />

dental insurance, good salary packages,<br />

sport initiatives, social events, office with a<br />

sea-view, healthy treats, referral bonuses,<br />

training, career prog<strong>res</strong>sion and many more.<br />

2016 saw Tipico Careers achieve three new<br />

awards, with their most recent Sigma award<br />

being awarded for ‘Best Careers Program<br />

2016’.<br />

In next month’s edition we will look forward<br />

to feature one of the industry’s most<br />

prominent and active employer brands,<br />

Videoslots.com. <strong>MBR</strong><br />

Summit of IGaming Malta 2016, Tipico Stand<br />

Thomas Mahoney (MBA) is an Employer Branding<br />

Specialist<br />

38


gambling<br />

Malta Business Review<br />

Malta’s approval may pave way for<br />

bitcoin’s global gaming expansion<br />

by Jasmine Solana<br />

Apart from trading, real-world use<br />

cases for digital currencies are starting<br />

to emerge. In the gambling sector, the<br />

popular cryptocurrency has recently<br />

been recognized by the UK Gambling<br />

Commission (UKGC) as an acceptable<br />

payment method available to its licensees.<br />

Malta’s approval may pave way for bitcoin’s<br />

global gaming expansionHowever, other<br />

global regulators—like the Malta Gaming<br />

Authority (MGA)—have yet to fol<strong>low</strong>.<br />

And this, according to investment broker<br />

Exante, is dampening the prospects of<br />

digital currencies.<br />

“The acceptance of bitcoin as payment<br />

method would no doubt help popularize<br />

it among online casinos and gamers<br />

while also attracting bitcoin casinos that<br />

currently use fiat currency,” Exante said<br />

in a statement.<br />

The MGA is still taking a wait-and-see<br />

approach towards al<strong>low</strong>ing its licensees to<br />

handle transactions in digital currencies.<br />

Joseph Cuschieri, executive chairman of<br />

the gaming regulator, said they received<br />

“very few requests” from licensees<br />

looking for authorization to handle<br />

bitcoin transactions—requests that<br />

MGA had “always refused” because he<br />

believes the use of such technology by<br />

MGA licensees are “a risk.”<br />

BitStarz, however, is of different<br />

opinion. The Malta-based bitcoin casino<br />

believes the adoption of Bitcoin would<br />

open up opportunities for spreading<br />

cryptocurrency in the gambling industry.<br />

According to BitStarz marketing manager<br />

Sasha Jade, the problem lies in the fact<br />

that fiat money casinos, which still hold<br />

99% of the gaming market, currently do<br />

not accept Bitcoin.<br />

“The recognition of Bitcoin by Maltese<br />

gaming authorities in the years ahead<br />

would al<strong>low</strong> Bitcoin to get on the global<br />

gaming market and expand into Asian and<br />

Russian markets,” Patrick J O’ Brien, Exante<br />

communication director, said in a statement.<br />

Cuschieri said the MGA plans to take<br />

a proactive approach and is looking<br />

at “adopting a national approach” to<br />

cryptocurrencies, such as collaborating<br />

with Malta’s Central Bank, the Financial<br />

Intelligence Analysis Unit and the Malta<br />

Financial Services Authority.<br />

Current bitcoin price and trade volume<br />

The price of bitcoin dropped to $717.53 on<br />

Thursday morning, with a trade volume of<br />

$7.4 million. <strong>MBR</strong><br />

Creditline: Linkedin; MGA<br />

Web: www.daikin.com.mt Email: info@maa.com.mt Tel: 2385 0400<br />

www.maltabusinessreview.net<br />

39


Malta Business Review<br />

Emotional Intelligence<br />

Engaging Emotional Intelligence<br />

By Martin Vella<br />

Recently, we had the opportunity<br />

to speak with Ms. Jackey Backman,<br />

specialist in Emotional Intelligence, soft<br />

skills development, and organisational<br />

and personal behavioural change. A<br />

candid yet compassionate international<br />

speaker and trainer who has delivered<br />

highly motivational and lifechanging<br />

p<strong>res</strong>entations to more than 35,000<br />

people during the past 20 years.<br />

She’s been visiting Malta for over ten<br />

years and we want to know more about<br />

what she does while in Malta.<br />

<strong>MBR</strong>: Ms. Backman, I understand you<br />

have been profession<strong>all</strong>y teaching<br />

various aspects of Emotional<br />

Intelligence competencies including<br />

Neuro-Linguistic Programming (NLP)<br />

for almost for more than 15 years you<br />

have a stellar reputation for helping<br />

people transform their personal and<br />

professional lives.<br />

JB:“Thank you”<br />

<strong>MBR</strong>: One of the buzz words I hear a<br />

lot in the context of success in business<br />

“Emotional Intelligence”. I understand<br />

you are certified in EQ competencies,<br />

tell me a little about Emotional<br />

Intelligence how that relates to Neuro<br />

Linguistic Programming.<br />

JB: “Human beings are driven by their<br />

emotions. Tradition<strong>all</strong>y organisations<br />

have invested a paramount amount<br />

of money in ensuring that employees<br />

acquire the technical aspects of job<br />

performance. Rightfully so.<br />

other humans and their emotion<strong>all</strong>y<br />

driven needs. So in other words if you<br />

can’t manage your insecurities or anger,<br />

if you can’t p<strong>res</strong>ent yourself confidently,<br />

communicate clearly, put people at ease<br />

etc. even having five PHD’s isn’t going<br />

to keep you employable, not for long,<br />

nor give you the success you deserve.<br />

<strong>MBR</strong>: Ok so then what exactly is<br />

Neuro Linguistic Programming (NLP)<br />

and why is receiving a certification in<br />

NLP so crucial for any entrepreneur or<br />

business professional?<br />

JB: “NLP is the study and application of<br />

personal excellence. I wouldn’t go so<br />

far as to say that it was “crucial” but without<br />

it you just aren’t going to have the edge<br />

on hiring the best people, finding the best<br />

clients or out performing your competitors.<br />

It’s a little tricky but let me explain a<br />

little more about how our brain works in<br />

conjunction with our mind. We create<br />

internal rep<strong>res</strong>entations of our experiences<br />

and then react to our interpretations based<br />

on what we believe they mean.<br />

Conditioning determines our current beliefs,<br />

values etc, which in turn directly affect<br />

which internal “interpretations” should<br />

rep<strong>res</strong>entations to remind consistent with<br />

explanation lingo. Sm<strong>all</strong> but made me stop.<br />

What they have come to discover<br />

however, is that technical skills and<br />

industry knowledge alone are not the<br />

recipe for success. As human beings our<br />

true success is completely dependent<br />

on our ability to manage our own<br />

emotions and our ability to deal with<br />

Jackey Backman<br />

40


Emotional Intelligence<br />

Malta Business Review<br />

Learning NLP amongst many other<br />

things, shows you exactly how to<br />

identify limiting beliefs and outdated<br />

values so you can make the necessary<br />

changes to your natural, automatic<br />

internal processes.<br />

NLP in my experience is<br />

by far the best Emotional<br />

Intelligence development<br />

modality available<br />

Everything from your self confidence,<br />

p<strong>res</strong>entation skills, efficiency and clarity<br />

in communication are at your disposal to<br />

adjust at will.<br />

Productivity sky rockets, Strategic<br />

thinking skills are unleashed and the<br />

ability to create well formed, ecologic<strong>all</strong>y<br />

sound goals and strategies becomes<br />

habitual. You’ll be able to differentiate<br />

between a good decision and a bad<br />

decision and best of <strong>all</strong> manage your<br />

emotional state under any circumstance.<br />

This is far beyond putting on strong<br />

exterior, what I’m talking about is a tool<br />

set that will exhilarate your ability to<br />

self actualise.<br />

There isn’t a professional out there<br />

who can afford to be an emotional,<br />

reactionary mess, consistently running<br />

out of time and without the ability to<br />

effectively plan, project and forecast.<br />

Jackey Backman<br />

NLP in my experience is by far the best<br />

Emotional Intelligence development<br />

modality available, that’s why I teach it”<br />

Being a professional in today’s business<br />

world provides <strong>all</strong> kinds of performance<br />

ch<strong>all</strong>enges for entrepreneurs,<br />

executives and staff a like.<br />

<strong>MBR</strong>: What are some of the problems<br />

NLP solves for performance issues<br />

at work?<br />

JB: “All of them. I’m not being cocky.<br />

There is a caveat however;<br />

If the person can accept the fact that<br />

just because they don’t know how to do<br />

something doesn’t mean it can’t be done,<br />

then I can work with them successfully.<br />

CEO, Director, VP, regardless of their<br />

position, if someone wants get past<br />

EDITOR’S NOTE<br />

whatever is limiting them, I can show<br />

them how. They just have to get out of<br />

their own way and the first step is having<br />

the courage to ask for help.<br />

Again I’m not being cocky, in a senior<br />

level position it takes a tremendous<br />

amount of courage to step up and admit<br />

they don’t know something - in some<br />

circles it could ch<strong>all</strong>enge their position -<br />

or at least they think it would. I’m always<br />

humbled by those who are willing to<br />

take that chance and I’m honoured to<br />

work with them.”<br />

<strong>MBR</strong>: NLP has gotten some negative<br />

publicity as well, what’s the proof that<br />

it works?<br />

JB: “The <strong>res</strong>ults. Ask someone<br />

I’ve worked with, whether in a<br />

corporate environment through<br />

leadership development/performance<br />

management or through one of my many<br />

workshops or my private clients. They<br />

may not be able to tell you exactly what I<br />

did but they will tell you I delivered, and<br />

beyond. I guarantee it. “<br />

I recommend that if you are a<br />

professional, executive, entrepreneur,<br />

or just plain ready to take things to the<br />

next level visit www.nlptrainingmalta.<br />

com today and download Jackey’s free<br />

information package. If you’d like more<br />

information on how Jackey can help you<br />

or your organization contact her for a no<br />

charge consultation at<br />

jackey@nlptrainingmalta.com. <strong>MBR</strong><br />

All Rights Reserved/ Copyright 2016<br />

Jackey Backman specializes in emotional intelligence, soft skills development,<br />

and organizational and personal behavioural change. She is a candid yet<br />

compassionate international speaker and trainer who has delivered highly<br />

motivational and life-changing p<strong>res</strong>entations to more than 35,000 people during<br />

the past 20 years. In her talent development and management consultancy she<br />

works exclusively with start-up to mid-size companies (up to $50MM). Through<br />

her highly integrated Business Operating System (BOS), she consults with and<br />

teaches senior leadership executives and middle management the essential<br />

processes by which organizations build well-founded, exception<strong>all</strong>y well-formed,<br />

solid teams. The whole process is designed to maximize human potential and<br />

nurture healthy productive work environments to facilitate exponential growth. Through her personal<br />

development training company, One Spirit Inc, she offers certification programs in Neuro Linguistic<br />

Programming, and provides workshops and retreats for individuals ready to go beyond conventional<br />

thinking to lead exceptional lives. Through the Emotional Intelligence Soft Skills Academy (EISSA),<br />

a division of One Spirit Inc., Jackey provides public workshops where organizations can send select<br />

individuals for highly specialized and advanced training in various soft skills including ultimate sales,<br />

assertiveness, communication skills, and dealing with conflict and confrontation.<br />

www.maltabusinessreview.net<br />

41


Malta Business Review<br />

EU Pre-P<strong>res</strong>idency<br />

A new momentum and platform<br />

to rebuild trust in the EU Project<br />

In the current circumstances, the two<br />

overarching objectives and priorities of<br />

our P<strong>res</strong>idency are to ensure the long term<br />

sustainability of the Union, and to <strong>res</strong>tore<br />

belief in the European project, said the<br />

Minister whilst speaking during the Malta<br />

EU Pre-P<strong>res</strong>idency Conference.<br />

The Minister for European Affairs and<br />

Implementation of the Electoral Manifesto<br />

said that recent events especi<strong>all</strong>y the tough<br />

financial upheavals, migration, security,<br />

terrorism and Brexit have traumatised the<br />

European Union. These have contributed<br />

to a large degree to the re-emergence<br />

of extreme nationalism, protectionism,<br />

xenophobic and geo-political tensions, he<br />

continued.<br />

Minister Grech stated that at this delicate<br />

moment in time of Europe’s history, one<br />

must focus on the issues that add<strong>res</strong>s<br />

the legitimate concerns and expectations<br />

of the European citizens that cause the<br />

citizens to lose confidence in the Union.<br />

He said that Europe needs to add<strong>res</strong>s<br />

concretely the uncertainty, fear and<br />

inequalities felt by its citizens.<br />

He reiterated that the Dutch, Slovak and<br />

Maltese P<strong>res</strong>idencies are guided by five<br />

pillars which are aligned with the EU’s<br />

Strategic Agenda. These areas include<br />

jobs, growth and competitiveness;<br />

empowerment and protection for <strong>all</strong><br />

The Minister for European Affairs and Implementation of the Electoral Manifesto Louis Grech<br />

Photo: DOI-Reuben Piscopo<br />

citizens; energy union and a forwardlooking<br />

climate policy; freedom, security<br />

and justice; and the Union as a strong<br />

global actor. Minister Grech outlined that<br />

the priorities of the Maltese P<strong>res</strong>idency fit<br />

into these baskets.<br />

On Brexit, he stated that once Article 50<br />

is activated, a pragmatic approach to<br />

negotiations should be adopted, that<br />

should lead to fair, clear and swift solutions<br />

which add<strong>res</strong>s the complex realities.<br />

The Minister remarked that the Malta<br />

Summit in February will continue the<br />

reflection that has started in Bratislava, and<br />

prepare for the 60th Anniversary of the<br />

Treaty of Rome. This should be an occasion<br />

to find a new momentum and a platform<br />

to rebuild trust in the European project in<br />

a viable and sustainable way right in the<br />

middle of the Maltese P<strong>res</strong>idency, he said.<br />

He also quoted today’s edition of the<br />

EurActiv, where they wrote that the<br />

Maltese P<strong>res</strong>idency is gearing up for the<br />

perfect storm. He said that admittedly<br />

the ch<strong>all</strong>enges are sensitive and complex,<br />

however with the right leadership, sense of<br />

vision and in-built flexibility the European<br />

ideal will face its ch<strong>all</strong>enges successfully<br />

and withstand the test of time.<br />

Parliamentary Secretary for EU P<strong>res</strong>idency 2017 and EU Funds, Dr. Ian Borg with Minister Grech<br />

Photo: DOI-Reuben Piscopo<br />

Minister Grech concluded that there<br />

is no other option for Europe to turn<br />

these setbacks experienced during these<br />

extraordinary difficult times into potential<br />

and viable outcomes for the future of the<br />

European project. <strong>MBR</strong><br />

CREDIT: THE MINISTRY FOR EUROPEAN AFFAIRS AND<br />

IMPLEMENTATION OF THE ELECTORAL MANIFESTO<br />

42


ict<br />

Malta Business Review<br />

Malta’s growing tech community in Lisbon for Web Summit<br />

Minister for the Digital Economy meets Maltese start-ups<br />

More than 150 delegates from Malta<br />

participated in this year’s Web Summit,<br />

an annual event that brings together techrelated<br />

inte<strong>res</strong>ts from across the globe. It<br />

is Europe’s largest technology marketplace<br />

where current and future trends are<br />

explored and some of the most promising<br />

tech start-up concepts are showcased.<br />

Tech start-ups are businesses that<br />

leverage ICTs to execute a repeatable<br />

and scalable business model. Start-ups<br />

typic<strong>all</strong>y come from humble origins, with<br />

sm<strong>all</strong> entrepreneurial teams passionate<br />

about turning a novel idea into a market<br />

innovation. By attracting venture<br />

investment, start-ups deploy scaling<br />

strategies to quickly transition from a new<br />

venture, to established market leaders.<br />

Companies like Spotify, Airbnb and Uber<br />

were <strong>all</strong> once a tech start-up pursuing such<br />

a strategy.<br />

Malta’s p<strong>res</strong>ence in this year’s Web<br />

Summit was strengthened through the<br />

setting up of a dedicated Malta booth the<br />

event exhibition area and the participation<br />

of a significant number of Maltese<br />

companies. The Malta booth managed<br />

and manned by rep<strong>res</strong>entatives from<br />

the Malta Communications Authority,<br />

MIMCOL and TradeMalta was aimed at<br />

promoting Malta as an ideal location for<br />

starting a digital business and showcasing<br />

Malta-based start-ups. Seven Maltese<br />

companies were given the opportunity<br />

to pitch their concept through the<br />

Alpha programme, with six benefitting<br />

from the internationalisation incentives<br />

administered by TradeMalta.<br />

Minister for Competitiveness and Digital,<br />

Maritime and Services Economy Emmanuel<br />

M<strong>all</strong>ia was also invited by the organisers<br />

to take part in roundtable policy dialogue<br />

with other European policy stakeholders.<br />

His p<strong>res</strong>ence was particularly valued in<br />

view of the imminent European P<strong>res</strong>idency<br />

that has the Digital Single Market and<br />

the evermore competitive digital global<br />

economy high on the agenda.<br />

In a meeting with the tech entrepreneurs,<br />

Minister M<strong>all</strong>ia lauded the ambition<br />

and creativity of these individuals. He<br />

welcomed Malta’s strong p<strong>res</strong>ence in such<br />

an important European event, arguing that<br />

this augurs well for Malta’s future ability to<br />

compete in the international digital scene.<br />

He added that Malta is more than ready to<br />

Minister for Competitiveness and Digital, Maritime and Services Economy Emmanuel M<strong>all</strong>ia<br />

Photo: DOI-Reuben Piscopo<br />

welcome any start-up. He also encouraged<br />

Maltese nationals not to shy away from<br />

the world of entrepreneurship, to be<br />

ambitious and to think global.<br />

Future technologies, such as advanced<br />

robotics and self-driving cars, as well<br />

as business opportunities related to<br />

finance, internet of things and content<br />

were the main themes add<strong>res</strong>sed at Web<br />

Summit 2016. Attendees also engaged<br />

in discussions on the changing worlds<br />

of sports, music and health. The “startup<br />

university” provided delegates with<br />

insights on successfully starting up and<br />

growing a new tech venture.<br />

Web Summit was held in Lisbon between<br />

the 8 and 10 November and was attended<br />

by 53,000 delegates from 166 countries.<br />

Events like Web Summit are important as<br />

they aid tech start-ups grow their network,<br />

validate their business models and attract<br />

investment. <strong>MBR</strong><br />

Courtesy: DOI/THE MINISTRY FOR COMPETITIVENESS<br />

AND DIGITAL, MARITIME AND SERVICES ECONOMY<br />

www.maltabusinessreview.net<br />

43


Malta Business Review<br />

Skillsoft Programme<br />

MITA engages ISL for<br />

Skillsoft® eLearning<br />

Enterprise-wide initiative to benefit over 100 employees<br />

MITA, the public sector agency that is<br />

driving Government’s Information and<br />

Communications Technology (ICT) policy,<br />

programmes and initiatives in Malta, has<br />

engaged Information Systems Limited to<br />

provide Skillsoft’s eLearning programmes in<br />

Project Management, IT and technical skills<br />

for 12 months to over 100 of its employees.<br />

ISL first delivered a three-week pilot<br />

programme for a number of employees at<br />

the Malta Information Technology Agency<br />

earlier this year. The Agency decided to<br />

engage ISL on the one-year enterprisewide<br />

licence from which staff from various<br />

departments will benefit on the basis of<br />

the highly positive feedback received via<br />

an online survey with the participants in<br />

the pilot.<br />

All the MITA employees will be accessing<br />

the eLearning programme through<br />

Skillsoft’s skillport 8i platform. Among<br />

the benefits of this platform are that:<br />

• it is fast and easy to deploy. No apps<br />

are inst<strong>all</strong>ed on your PC/laptop/device;<br />

• eLearning content is accessible from<br />

anywhere on a 24x7x365 basis via the<br />

user’s favourite web browser;<br />

• it is desktop/mobile/tablet ready;<br />

• content (including mentoring) can be<br />

revisited and accessed for the entire<br />

duration of the licence (one year); and<br />

• it supports Web Accessibility, Skillsoft’s<br />

implementation of Section 508 and<br />

W3C compliance standards, which it<br />

supports and promotes in its software<br />

applications and courseware.<br />

Skillsoft software works with several<br />

assistive technologies, which are any<br />

electronic or information technologies that<br />

al<strong>low</strong> individuals with disabilities to use<br />

information on a computer that they would<br />

not be able to access otherwise.<br />

Skillsoft supports the fol<strong>low</strong>ing assistive<br />

technologies:<br />

• screen reader software (a speech<br />

synthesiser technology that converts<br />

text to audio);<br />

• shortcut keys for <strong>all</strong> mouse actions;<br />

• alternative images to replace animated<br />

graphics; and<br />

• elimination of screen ref<strong>res</strong>h rates<br />

between 5 Hz and 55 Hz, which can<br />

cause seizu<strong>res</strong> for some individuals.<br />

ISL held three familiarisation sessions at<br />

MITA to take participants on a tour of <strong>all</strong><br />

the eLearning programmes they would<br />

have access to and to give them an idea of<br />

what to expect.<br />

Mr Jesmond Mizzi, Human Resources<br />

Manager at MITA, said: “We are confident<br />

that the Skillsoft eLearning programmes<br />

our staff can access will further enable<br />

the Agency to deliver on its three core<br />

components:<br />

• its transformation approach towards<br />

its programmes and projects –<br />

to transform the way they are<br />

engineered together with their<br />

delivery, their return on investment<br />

and the enhancement of the <strong>all</strong>round<br />

value they effectively provide;<br />

• its innovation approach – the<br />

aspiration to become the leading<br />

innovator within the public sector<br />

and one of the prime movers in the<br />

innovation circuit in Malta by thinking<br />

creatively in <strong>res</strong>pect of its people,<br />

technology and operations; and<br />

• its excellence approach, which<br />

strengthens the Agency’s craving for<br />

continuous improvement at <strong>all</strong> levels.<br />

This puts fostering and encouraging<br />

an ongoing culture of learning high<br />

on our list of priorities.”<br />

Mr Simon C<strong>all</strong>eja-Urry, Director of ISL,<br />

said: “We are proud that Skillsoft’s<br />

eLearning programmes are accessible to<br />

<strong>all</strong> users, even those with disability, so the<br />

entire cohort selected by MITA to fol<strong>low</strong><br />

these programmes in the coming months<br />

can take the maximum benefit in the most<br />

flexible way possible.<br />

“No fewer than twenty-four (24) Skillsoft<br />

eLearning programmes will be accessible<br />

to these MITA employees for the duration<br />

of the licence.” <strong>MBR</strong><br />

For further information, visit www.isl.com.mt<br />

44


motoring<br />

Malta Business Review<br />

The new Audi Q2 ………. #untaggble!<br />

Speech by Chev. Maurice Mizzi on the launch of the Audi Q2<br />

Good evening ladies and gentlemen,<br />

and thank you for joining us here<br />

this evening for the launch of the<br />

much-anticipated Audi Q2. Soon you<br />

will see why!<br />

Audi are promoting the latest addition to<br />

their Q family as Untaggable.<br />

I am sure you are <strong>all</strong> wondering what this<br />

untaggable tag means.<br />

The new Q2 is not just a scaled down Audi<br />

Q3. It rep<strong>res</strong>ents a tot<strong>all</strong>y new segment<br />

for Audi and a completely new design<br />

direction than that of its larger brothers<br />

and of the total car market. In other words<br />

– It is unique. With its new Octagonal<br />

radiator grille, Coupe’ like roof line and<br />

distinctive concave flanks in the door area,<br />

the Audi Q2 separates itself from its larger<br />

brothers in both looks and purpose.<br />

However, this separation is only skin deep.<br />

The new Q2 retains <strong>all</strong> the virtues that<br />

have become synonymous with the Audi<br />

brand albeit in a new Stylish and Sporty<br />

package.<br />

From its state of the art Safety and Driver<br />

Assistance systems to its versatile and<br />

intuitive infotainment system, the new<br />

Q2 is a no compromise contender in this<br />

segment offering <strong>all</strong> you would expect<br />

from any Audi.<br />

Audi also offer a selection of six engines<br />

for the new Q2: Three TFSI and three TDI<br />

engines are available with power outputs<br />

ranging from 116 hp to 190 hp.<br />

The engine program fol<strong>low</strong>s the<br />

principle of rightsizing. This is<br />

about striking the perfect balance<br />

between vehicle class, engine<br />

displacement, power output,<br />

torque and efficiency.<br />

Whatever engine you may choose,<br />

<strong>res</strong>t assured that <strong>all</strong> offer superb<br />

driving dynamics and efficiency.<br />

And now, the million Dollar question!<br />

How much does this exciting new Audi<br />

cost?<br />

The new Audi Q2 can be yours for as little<br />

as €24,900 (or € 24,200 including the<br />

Government scrappage scheme)<br />

I strongly recommend that you take<br />

the opportunity to book a test drive of<br />

this great new car to experience the<br />

Untaggable first hand. You can do this<br />

here this evening.<br />

……..And fin<strong>all</strong>y, the moment we have<br />

<strong>all</strong> been waiting for…..Ladies<br />

and Gentlemen…..The<br />

new Audi Q2!! <strong>MBR</strong><br />

www.maltabusinessreview.net<br />

45


Malta Business Review<br />

education<br />

Work-based learning and apprenticeship law<br />

launch of public consultation<br />

The Ministry for Education and Employment has embarked on an internal and external consultation process to develop the<br />

proposed Work-Based Learning and Apprenticeship Act which provides a framework for the development of effective Work-<br />

Placements, Apprenticeships and Internships.<br />

The proposed Act is based on:<br />

• <strong>res</strong>earch conducted by the European<br />

Centre for the Development of<br />

Vocational Training (CEDEFOP)<br />

with local learners, educators and<br />

employers;<br />

• a review of international legislation<br />

on traineeships and benchmarking of<br />

best practices within countries leading<br />

in the field of vocational training.<br />

The main developments brought about<br />

by the proposed Act are the introduction<br />

of the:<br />

• Government subsidy to bridge the gap<br />

between the learner’s current income<br />

and the minimum wage rate;<br />

• Rights and obligations of learners<br />

as employees, for the duration<br />

of the Work-Based Learning part<br />

of the Training Programme, in<br />

compliance with the Employment<br />

and Industrial Relations Act, Young<br />

Persons’ Employment Regulations,<br />

Social Security Act and the <strong>res</strong>pective<br />

subsidiary legislation;<br />

• Governance structure to protect the<br />

rights and obligations of trainees and<br />

employers.<br />

Work-based learning, apprenticeships, and<br />

similar forms of learning, are regarded<br />

as an important part of any country’s<br />

development and the provision of highquality<br />

services. Vocational education<br />

and training systems that use work-based<br />

learning tend to be more effective in aiding<br />

the transition of young people into jobs.<br />

By alternating between school and work,<br />

learners develop the practical knowledge<br />

and skills employers seek.<br />

Work based learning also supports the<br />

development of the soft skills of the<br />

learner, which employers often refer to<br />

in discussions about mismatches in the<br />

labour market. These types of skills are<br />

difficult to acquire in a traditional school<br />

setting. In short, high-quality work based<br />

learning programmes are about preparing<br />

individuals and aiding development of<br />

knowledge, skills and competences that are<br />

in demand in the labour market.<br />

Developing policies and programmes to<br />

ensure the availability of a high-quality,<br />

highly-skilled labour force, is currently<br />

broadly promoted at European and<br />

Member State level, aiming to improve<br />

service quality, capacity, capability,<br />

efficiency and to meet the demands of<br />

contemporary economies. <strong>MBR</strong><br />

Consultation document can be accessed on<br />

the fol<strong>low</strong>ing URL: www.edu.gov.mt/wbl<br />

Ways to <strong>res</strong>pond:<br />

Email to: wbl.konsultazzjoni@gov.mt<br />

Or Write to:<br />

WBL Consultation Office, Office of<br />

the Permanent Secretary, Ministry for<br />

Education and Employment, Great Siege<br />

Road, Floriana VLT 2000​, Malta<br />

PHOTOS: DOI-KEVIN ABELA<br />

Creditline: DOI/THE MINISTRY FOR EDUCATION AND<br />

EMPLOYMENT<br />

46


iGaming<br />

Malta Business Review<br />

A Multidimensional experience in Malta, launched during SiGMA, to enjoy<br />

with friends and colleagues, anywhere and anytime;<br />

BtoBet decided to introduce a preview of its new concept of Omnichannel specific<strong>all</strong>y at SiGMA - the biggest international iGaming<br />

expo in Malta - as the perfect environment to showcase BtoBet’s silent and effective technology to the industry.<br />

Exclusively at Sigma, a preview of the new hyperreality that will be launched in London.<br />

At the exhibition center, at booth B99,<br />

immersed in a tot<strong>all</strong>y silent atmosphere,<br />

BtoBet will give the opportunity to live a<br />

show in the show, in an unusual, active<br />

and trendy way. Attendees will hear just<br />

the voice of technology. Here, visitors<br />

will have the opportunity to try the first<br />

multi-dimensional experience, through<br />

Augmented Reality, realized for the<br />

iGaming industry.<br />

What should they do once at Sigma? Look<br />

for BtoBet’s totem or special postcard and<br />

fol<strong>low</strong> the instructions:<br />

• download the app scanning the QR<br />

code with the smartphone<br />

• point the logo and see BtoBet’s new<br />

testimonial, S1mOne, coming out<br />

• enjoy with S1mOne and fol<strong>low</strong> her<br />

adventu<strong>res</strong> till ICE 2017 where she<br />

will demonstrate what she can do for<br />

<strong>all</strong> the betting and iGaming operators<br />

both online or land based.<br />

The multidimensional experience with<br />

S1mOne will continue also after the show,<br />

keeping the special postcard with the QR<br />

code at home, in the office, having fun<br />

with friends and colleagues.<br />

Addition<strong>all</strong>y, at the Intercontinental hotel<br />

BtoBet’s CEO, Alessandro Fried, will be<br />

speaker at the conference “Omni-channel<br />

sports betting”, on the 17th November at<br />

11.00, at the Sports room.<br />

Fried states: “During the panel I will<br />

discuss with other professionals about the<br />

emerging trends of online and land based<br />

business models, the related sources of<br />

traffic and their future in the Gaming<br />

industry.”<br />

About the BtoBet’s p<strong>res</strong>ence at Sigma,<br />

Fried comments: “BtoBet has just been<br />

nominated finalist in the category<br />

About BtoBet<br />

“Innovator of the year” at Malta iGaming<br />

Awards. At booth B99 we will give a preview<br />

of a total new player’s A.I. tools that can<br />

improve betting shops’ players retention.<br />

How? By integrating the Augmented<br />

Reality in our high-tech software.”<br />

To discover more about the evolution of<br />

Omnichannel solution, it is possible to<br />

download the dedicate white paper “Land<br />

-based and online sports betting business<br />

model. Is the Omnichannel solution the<br />

way forward?”<br />

(http://www.btobet.com/en/omnichannelwhite-paper)<br />

<strong>MBR</strong><br />

BtoBet is a pioneer in new technologies for iGaming operators and the betting<br />

industry by using technological intelligence as its main base for its products. It<br />

offers unique, customizable, secure and flexible cloud-based systems delivering<br />

unprecedented capabilities to drive sportsbook and iGaming business. BtoBet has 13<br />

offices. The Technical team of the company is in Skopje and has an ever growing team<br />

of developers. BtoBet’s dynamic Sportsbook team operates from Rome, whilst Malta<br />

hosts the commercial and marketing center.<br />

Visit our site on: www.btobet.com<br />

www.maltabusinessreview.net<br />

47


Malta Business Review<br />

commemoration<br />

Values for Humanity<br />

When the future of our world and the values we defend are tested, I would like to share a<br />

memory, to celebrate the recent nomination of António Guterrez to post of UN Secretary<br />

General, and, above <strong>all</strong>, to encourage him in his mission.<br />

One day in the summer of 2015<br />

A memory...<br />

I had the honor of guiding António Guterrez,<br />

already then the UN High Commissioner for<br />

Refugees, through a private visit to the Dream<br />

of Humanity exhibition on the banks of the<br />

Seine in Paris.<br />

The exhibition displayed images on the<br />

theme of humanity, on the theme of exile<br />

and displayed seven large panels bearing<br />

different key values translated into the<br />

languages of the world.<br />

Hospitality<br />

Solidarity<br />

Friendship<br />

Peace<br />

Hope Respect<br />

Dignity<br />

The new mission of António Guterrez,<br />

more than ever after today, is to<br />

spread these values and to encourage<br />

each nation to fight for them, so that<br />

they are not trampled. <strong>MBR</strong><br />

Courtesy: Reza<br />

www.rezaphoto.org<br />

48


eu/malta<br />

Malta Business Review<br />

Malta ready to work towards fair and balanced EU trade policies during P<strong>res</strong>idency<br />

Minister Chris Cardona in Brussels<br />

Hon Minister for the Economy, Investments & Sm<strong>all</strong><br />

Business Dr Chris Cardona, Photo: MEIB<br />

The Minister for the Economy,<br />

Investment and Sm<strong>all</strong> Business Chris<br />

Cardona has welcomed EU efforts to<br />

bring forward ideas on how to improve<br />

and strengthen mechanisms against<br />

unfair trade practices in the over<strong>all</strong><br />

context of EU economic inte<strong>res</strong>ts.<br />

Speaking at a meeting of EU ministers<br />

on the Union’s trade policies, Minister<br />

Cardona st<strong>res</strong>sed the importance of<br />

creating a level playing field for European<br />

enterprises, notably SMEs, in line with<br />

World Trade Organisation rules. Within<br />

this context, he exp<strong>res</strong>sed Malta’s support<br />

for the need to modernise the EU’s Trade<br />

Defence Instruments. He exp<strong>res</strong>sed his<br />

hope that a compromise will be found<br />

amongst Member States as to how these<br />

instruments can be as effective and<br />

balanced as possible for economic actors<br />

within the EU.<br />

Malta remains a strong proponent of<br />

international free trade as a crucial<br />

instrument in bringing about universal<br />

economic prosperity. During its<br />

upcoming P<strong>res</strong>idency of the Council of<br />

the EU, Malta will be ensuring that both<br />

internal discussions on trade defence,<br />

as well as trade negotiations with thirdcountries,<br />

move forward in the inte<strong>res</strong>ts<br />

of <strong>all</strong> stakeholders<br />

During the meeting, ministers also<br />

discussed the ongoing EU Free Trade<br />

Agreements with Japan and Mercosur,<br />

which is an economic bloc within South<br />

America. Minister Cardona stated that<br />

Malta considers Japan to be a very<br />

important economy with which the EU<br />

already has strong commercial ties. He<br />

added that an agreement with Tokyo is a<br />

natural prog<strong>res</strong>sion of such ties and that<br />

he is confident that a free trade agreement<br />

which benefits both economies is within<br />

reach. Similarly, Minister Cardona stated<br />

that successful negotiations with Mercosur<br />

countries will provide EU companies with<br />

access to an important market that has<br />

high potential in terms of size and future<br />

potential growth.<br />

Fin<strong>all</strong>y, ministers discussed the state<br />

of play regarding negotiations with the<br />

United States of America on the TTIP<br />

(Transatlantic Trade and Investment<br />

Partnership). In this <strong>res</strong>pect, Minister<br />

Cardona stated that the agreement should<br />

remain a priority, while also cautioning<br />

that the concerns of EU citizens must be<br />

listened to by politicians. He augured<br />

that the new US administration will take<br />

forward the current negotiations which<br />

promise to benefit the economies on both<br />

sides of the Atlantic. <strong>MBR</strong><br />

www.maltabusinessreview.net<br />

49


Malta Business Review<br />

banking news<br />

Al Faisal International for Investment acqui<strong>res</strong><br />

78.46% holding in Banif Bank (Malta) plc<br />

Plans to support the Bank’s growth and diversification<br />

Al Faisal International for Investment<br />

(“AFII”), the Financial Investment Company<br />

of Al Faisal Holding Company, one of<br />

Qatar’s largest private diversified industry<br />

groups, announces that it has acquired a<br />

78.46% shareholding in Banif Bank (Malta)<br />

plc, a key player in the Maltese financial<br />

services industry.<br />

Banif Bank (Malta) has been operating<br />

since 2008 and currently provides a full<br />

range of commercial banking services to its<br />

approximately 30,000 customers through a<br />

network of twelve branches and its three<br />

corporate and business banking units.<br />

AFII has completed the acquisition of<br />

the 78.46% stake from Oitante, S.A.,<br />

fol<strong>low</strong>ing receipt of regulatory approval<br />

by the European Central Bank and the<br />

Malta Financial Services Authority. The<br />

remaining 21.52% of Banif Bank (Malta)’s<br />

sha<strong>res</strong> are held equ<strong>all</strong>y by four Maltese<br />

shareholders. AFII will appoint three<br />

Non-Executive Directors to the Bank’s<br />

eleven person Board.<br />

AFII and Al Faisal Holding have a strong,<br />

global track record of long term investment<br />

across a range of sectors, adding value and<br />

al<strong>low</strong>ing businesses to develop and fulfil<br />

their potential. In line with this approach,<br />

AFII will be providing Banif Bank (Malta)<br />

with additional capital <strong>res</strong>ources to further<br />

strengthen the Bank’s capitalisation and<br />

to support its focused diversification and<br />

expansion plans. These plans include<br />

enhancing the Bank’s existing range of<br />

services for retail and corporate customers<br />

and the development of new private<br />

banking and investment banking services.<br />

H.E. Sheikh Faisal Bin Qassim Al<br />

Thani, Chairman of Al Faisal Holding,<br />

commented:<br />

“Banif Bank Malta has quickly established<br />

itself as an increasingly important part of<br />

Malta’s financial services landscape and<br />

it is a bank in which Al Faisal is proud to<br />

have become the majority shareholder.<br />

Across the globe, Al Faisal’s strategy is<br />

to establish market-leading standards<br />

of operation and service in every region<br />

and sector in which we operate and Banif<br />

Bank Malta will be no exception.<br />

“Banif Bank Malta is a well-<strong>res</strong>ourced,<br />

well-managed bank with exciting growth<br />

potential and a good platform upon which<br />

to build. The Bank sha<strong>res</strong> our values<br />

of excellence in service and corporate<br />

governance and has worked hard to<br />

develop strong retail and corporate<br />

customer relationships - for example<br />

through its high levels of customer service<br />

and care, expanding ATM network and<br />

robust digital banking facilities.<br />

“This is a significant move for us; Banif Bank<br />

Malta will be Al Faisal’s first financial services<br />

investment in Europe and we expect it to<br />

be the first of more investments in Malta<br />

across a number of different sectors. I can<br />

assure <strong>all</strong> the Bank’s stakeholders that as<br />

experienced, long term investors in high<br />

quality businesses, we will ensure that its<br />

management and staff have the necessary<br />

capital and <strong>res</strong>ources to gradu<strong>all</strong>y expand<br />

the business and to provide new and<br />

existing customers with an enhanced and<br />

diverse range of market-leading financial<br />

services. We are confident that with Al<br />

Faisal as its majority shareholder, Banif<br />

Bank Malta will move into a new phase of<br />

growth and development.”<br />

Joaquim Francisco Da Silva Pinto, Chief<br />

Executive Officer of Banif Bank (Malta),<br />

said:<br />

“Banif Bank Malta welcomes Al Faisal<br />

International for Investment as our majority<br />

shareholder. While in the short term it will<br />

be business as usual for our customers as<br />

we consolidate and expedite our current<br />

growth strategy, with the backing of such a<br />

major, global investor we look forward to<br />

leveraging new <strong>res</strong>ources and expertise<br />

to further develop and enhance the<br />

Bank’s services and relationships with <strong>all</strong><br />

our stakeholders.” <strong>MBR</strong><br />

50


eal estate news<br />

Malta Business Review<br />

Zanzi Homes, QuickLets estate agents<br />

to obtain certification with LEAD Training<br />

By Malcolm J Naudi<br />

Some 110 estate agents who work with the up-and-coming real estate agencies Zanzi Homes and<br />

QuickLets are to fol<strong>low</strong> a professional certification programme with LEAD Training Services.<br />

The programme, aimed at individuals<br />

seeking to comply with the academic<br />

requirements laid out in the White<br />

Paper on Malta’s Property Codes and<br />

Regulations, published earlier this<br />

year, enabling them to obtain a real<br />

estate agent licence, will be an MQF<br />

Level 5 CPD Award accredited by the<br />

National Commission of Higher and<br />

Further Education (NCFHE).<br />

The Real Estate Agent Professional<br />

Certificate programme consists of nine<br />

modules with a total of 55 hours of<br />

lectu<strong>res</strong>. Entry requirements are four<br />

‘O’ Levels, including Mathematics and<br />

English, or three years’ experience in<br />

sales or business development.<br />

Zanzi Homes, set up end 2015, focuses<br />

solely on <strong>res</strong>idential and commercial<br />

property sales across the Maltese<br />

islands. Its mission is to offer vendors<br />

and purchasers the best deal possible<br />

as quickly as possible. It has gone out<br />

to attract the top sales specialists on<br />

the island through its state-of-theart<br />

technology and down-to-earth,<br />

professional work ethic.<br />

Currently, Zanzi Homes and QuickLets<br />

Group has nine branches in Malta,<br />

with its largest offices located in St<br />

Julian’s, Swieqi and San Gwann, each<br />

with a dedicated team. One of its goals<br />

is to become the top estate agents in<br />

Malta. Its sister company, QuickLets, is<br />

Malta’s fastest growing letting agency,<br />

with a focus on building relationships<br />

with its clients.<br />

“We are fast, reliable, outgoing,<br />

upfront, polite, professional and,<br />

most of <strong>all</strong>, friendly,” according to cofounder<br />

Steve Mercieca. “We also focus<br />

on clients’ needs, wants and demands<br />

to find them the right property at<br />

the right price. The Federation of<br />

Real Estate Malta said that the new<br />

real estate agent licence will create<br />

a level playing field in the market for<br />

<strong>all</strong> the agencies, so Zanzi Homes and<br />

James Grech, Managing Director of LEAD Training Services (on left) with Steve Mercieca, Co-Founder of Zanzi<br />

Homes and QuickLets<br />

QuickLets want their agents to be as<br />

educated as possible.<br />

“We want to work by the book and give<br />

our agents the best training possible”<br />

he said.<br />

James Grech, Managing Director of<br />

LEAD Training Services, said: “The Real<br />

Estate Agent Professional Certificate<br />

programme, also being offered as a<br />

public programme open to <strong>all</strong> aspiring<br />

real estate agents in Malta, was<br />

designed from the ground up in full<br />

compliance with the requisites as laid<br />

down in the White Paper.<br />

“We have put together an excellent<br />

team of lecturers who will cover<br />

areas like economics, notarial and tax<br />

matters, data protection, anti-money<br />

laundering, sales and negotiating skills,<br />

valuation and property analysis, and<br />

fundamentals of financial management<br />

amongst others. The course which<br />

is 55 lecturing hours long split over<br />

a number of weekly evening sessions<br />

will run from 23 November 2016 to 27<br />

April 2017 and lectu<strong>res</strong> will be held at<br />

the Tower Training Centre in Swatar.<br />

“I believe that inte<strong>res</strong>ted participants<br />

should not register for this course just<br />

for the sake of obtaining an eventual<br />

working licence, but because they<br />

believe that the knowledge they will obtain<br />

from this course will help them perform<br />

their work in a more professional way for<br />

the sake of themselves and their clients.<br />

Knowledge and continual professional<br />

education is the key to professionalism<br />

and success, and the real estate industry is<br />

no exception,” Mr Grech said. <strong>MBR</strong><br />

For more information and registration,<br />

visit http://leadtraining.com.mt/realestate-agent-professional-<br />

certificate/.<br />

www.maltabusinessreview.net<br />

51


Malta Business Review<br />

building & construction<br />

Mother Nature on the<br />

By Antoine Bonello<br />

Planter after waterproofing completion<br />

Green roofs and roof gardens are<br />

s<strong>low</strong>ly, s<strong>low</strong>ly leaving their mark on<br />

our island. Plants have the ability<br />

to reduce the over<strong>all</strong> heat absorption of<br />

a building, which in turn reduces energy<br />

consumption. The primary cause of<br />

heat build-up is the absorption of solar<br />

radiation and plants can create a thick<br />

shield with their leaves that can reduce<br />

heat intake by 87%. The ultimate success<br />

of a rooftop garden depends largely on a<br />

proper design and inst<strong>all</strong>ation.<br />

Prior to any intervention on the roof it<br />

is important to assess the weight it can<br />

withstand, this to avoid any structural<br />

problems and building damages. It is<br />

therefore recommended that a proper<br />

inspection is carried out by an architect,<br />

thus making sure that heavy planting pots<br />

or the heavy soil of the planters can <strong>res</strong>t<br />

on the said roof.<br />

The second and the most important thing<br />

to apply is the waterproofing. The time<br />

and expense associated with removing<br />

of planters, repairs of the membrane due<br />

to water infiltration prohibit the use of<br />

economical solutions; avoid plastic and<br />

acrylic based compounds/membranes<br />

or bitumen carpet solutions as they are<br />

not designed to withstand stagnations,<br />

traffic, and structural movements.<br />

Low quality waterproofing products are<br />

not meant to be exposed to constant<br />

water build up, which in a garden<br />

construction could exist for months<br />

due to saturated soil. Same thing can<br />

be said for the substrate waterproofing<br />

systems as they might also be exposed to<br />

ground soil chemicals. Properly applied<br />

waterproofing systems can have a service<br />

life that matches the life of the building.<br />

This is an important characteristic<br />

because unlike roofing materials, the<br />

waterproofing materials are inaccessible<br />

and the expenses associated with repairs<br />

an replacement are substantial primarily<br />

due to excavation costs and removals.<br />

The membrane system used in planters<br />

must be durable enough to <strong>res</strong>ist<br />

mechanical damage from gardening tools,<br />

the penetration of plant roots, and last<br />

without repair or replacement for the life<br />

of the building. On the contrary exposed<br />

roof membrane materials are constantly<br />

subjected to weathering elements like<br />

sun, wind, rain, ice, etc. For the most<br />

part the water build up is drained from<br />

these areas within 48 to 72 hours. Proper<br />

roof systems made from <strong>res</strong>in materials<br />

gener<strong>all</strong>y have a service life of 10 to<br />

20 years prior to any remedial actions.<br />

Their remedial whether it is removal or<br />

recoating can be accomplished very easily<br />

and unlike planters and pots it creates<br />

minor inconveniences in the building due<br />

to ease of accessibility to the roof.<br />

A watertight roof is critical to successful<br />

green roofs of roof gardens construction.<br />

While some roofs are essenti<strong>all</strong>y<br />

waterproof when built, most will require<br />

some form of treatment to prevent water<br />

entry into the building. Waterproofing<br />

treatment must provide a strong but<br />

flexible layer that al<strong>low</strong>s expansion under<br />

physical or thermal movements of the<br />

building structure, without compromising<br />

water tightness. Vegetation gener<strong>all</strong>y<br />

should not be inst<strong>all</strong>ed over areas such<br />

as expansion joints, where regular<br />

inspection of the waterproofing will be<br />

necessary.<br />

A green roof with many fixings or<br />

penetrations, such as for lighting, water<br />

drains and ventilation can only be<br />

waterproofed with liquid based materials<br />

in order to have a perfect seamless<br />

solution without any weak spots from the<br />

bonding seams.<br />

Waterproofing membranes must be<br />

<strong>res</strong>istant to traffic and strong enough<br />

to protect from chemical damage. This<br />

includes cuts and tears, the action of<br />

invasive roots and stems, and exposure<br />

to the elements. All membranes will<br />

become brittle over time, and this is<br />

accelerated by exposure to cold, heat and<br />

UV rays from sunlight. A green roof will<br />

shield the membrane from damage and<br />

can significantly lengthen its life span.<br />

implementation of fibre glass reinforcement<br />

52


uilding & construction<br />

Malta Business Review<br />

Rooftop<br />

Root <strong>res</strong>istance may be built into<br />

waterproofing membranes either by<br />

the addition of root-inhibiting chemical<br />

treatments, or because the composition of<br />

the membrane provides an impenetrable<br />

barrier to root growth. Root <strong>res</strong>istant<br />

waterproofing in liquid form is quicker<br />

to inst<strong>all</strong> than separate waterproofing<br />

and root barrier layers, however, the<br />

root-<strong>res</strong>istance of a product must be<br />

confirmed with the manufacturer, with<br />

certification provided.<br />

In Malta only a handful serious<br />

companies manufacture/import and<br />

inst<strong>all</strong> the materials themselves, thus<br />

assuming the full <strong>res</strong>ponsibility for their<br />

works. The majority of the waterproofing<br />

is likely to be inst<strong>all</strong>ed by a third party<br />

waterproofing contractors. If it is the<br />

case the involvement of an independent<br />

contractor means that a clear agreement<br />

between <strong>all</strong> parties must be established<br />

for <strong>res</strong>ponsibility of the waterproofing<br />

membrane once it has been inst<strong>all</strong>ed and<br />

certified as watertight. On this matter<br />

we recommend to make sure that the<br />

waterproofing contractor is a member<br />

of the Malta Professional Waterproofing<br />

and Resin Flooring Association, only<br />

this way you are guaranteed that the<br />

person is traceable, accountable and<br />

has a proper training background on the<br />

matter. The Waterproofing Association<br />

gives the possibility to <strong>all</strong> inst<strong>all</strong>ers on<br />

the island to properly learn how to<br />

apply modern waterproofing systems,<br />

the forth coming seminar will be held<br />

on 24th – 26th November 2016. The<br />

seminars are lectured by prominent<br />

Italian architects and inst<strong>all</strong>ers, further<br />

information can be obtained by visiting<br />

www.maltawaterproofing.com.<br />

A very effective an simple to apply<br />

material that can be used by professionals<br />

and DIY is liquid <strong>res</strong>in-based polymer<br />

membrane with high strength additives<br />

implementation of root reppellent membrane<br />

and selected bitumen. It does not require<br />

an anchoring primer. This product can be<br />

applied with a roller, brush with synthetic<br />

bristles or airless pump. A similar product<br />

is the Fibro Dark that contains specific<br />

micro fib<strong>res</strong> inside the product and does<br />

not require a reinforcing net.<br />

Once the waterproofing of the roof<br />

and the planters are solved you can<br />

implement the <strong>res</strong>t as you please and<br />

with the wildest and exotic plants Mother<br />

Nature have given us. <strong>MBR</strong><br />

www.maltabusinessreview.net<br />

53


Malta Business Review<br />

workshop<br />

Workshop Empowering Women<br />

with the Confidence to Defend Themselves<br />

A series of workshops are being organised<br />

in Malta aimed specific<strong>all</strong>y at women. The<br />

one-day courses have been developed as a<br />

<strong>res</strong>ponse to the variety of ever increasing<br />

risks that the modern world p<strong>res</strong>ents. The<br />

aim is to educate and train women in their<br />

own ability to defend themselves by staying<br />

aware and avoiding confrontation through<br />

common sense and confidence.<br />

“Confidence in your own ability to defend<br />

yourself comes with educating yourself<br />

about it, and is a massive advantage when<br />

in an unsafe situation.” These were the<br />

words of top US fashion model Gigi Hadid,<br />

quoted in Grazia Middle East, fol<strong>low</strong>ing an<br />

unsolicited assault at Milan Fashion Week in<br />

September.<br />

The Malta based company organising<br />

the workshop, EQUIPP, is a training and<br />

consultancy organisation that specialises in<br />

services related to personal and travel safety.<br />

Spread over one full day, the courses are<br />

made up of various modules that cover<br />

everything from identifying a problematic<br />

situation to how to ensure personal safety.<br />

The knowledge gained can be applied in<br />

any situation faced during day to day life.<br />

The first course will take place on 19th<br />

November and special prices are available<br />

for early bookers and group bookings.<br />

For more information and to book, email<br />

EQUIPP on info@equipp.com.mt, c<strong>all</strong> on<br />

27133903 or visit www.equipp.com.mt<br />

Notes to Editors<br />

EQUIPP was set up by its Founder George<br />

Turns to give something back; having<br />

gained a huge wealth of knowledge and<br />

experience spanning decades of travel<br />

across several high risk regions, he identified<br />

an opportunity to exchange that knowledge<br />

in order that others may benefit.<br />

George’s career spans several decades<br />

with seventeen years in the British<br />

military including specialist Anti-Terrorism<br />

experience in several countries across the<br />

globe. For the last <strong>25</strong> years he has been<br />

working as a risk management consultant<br />

with Blue Chip organisations on projects in<br />

Asia, Africa and the Middle East.<br />

EQUIPP offer a range of training courses<br />

aimed at individuals and companies to<br />

help minimise the risks associated with<br />

international travel around the world.<br />

The goal is to equip individuals with the<br />

knowledge and tools to look after their own<br />

well-being as well as that of their colleagues<br />

and families.<br />

The course syllabi are part of a wide<br />

knowledge base, spread across a broad<br />

spectrum of experiences within modern day<br />

conflict zones, disaster areas and extensive<br />

worldwide travel to high risk environments.<br />

Courses include Travel Safety Awareness &<br />

First Aid, Travel Safety for Gap Year Students,<br />

Conflict Management, Hostile Environment<br />

Awareness Training (HEAT) and Travel Safety<br />

for NGOs. They can be delivered on-site or<br />

via remote webinars.<br />

The consultancy services help companies<br />

to assess the travel risk implications of their<br />

employees, while mitigating corporate<br />

liability (duty of care). EQUIPP offers a<br />

wealth of experience through its expert risk<br />

consultants, <strong>all</strong> with decades of experience<br />

across a variety of sectors, continents and<br />

some of today’s conflict environments. <strong>MBR</strong><br />

Further information can be found at<br />

www.equipp.com.mt<br />

Global Citizen Award 2016<br />

Fundraising activity in aid of UNHCR<br />

When we commit ourselves to well-being, we are committing ourselves to the creation of a global culture of social solidarity,<br />

where the best inte<strong>res</strong>ts of <strong>all</strong> individuals, of their communities and their societies, are <strong>res</strong>pected and given their rightful dignity<br />

P<strong>res</strong>ident<br />

of Malta Marie-<br />

Louise Coleiro Preca<br />

attended a fundraising<br />

activity in aid of UNHCR,<br />

during her visit to the United<br />

Kingdom. During this event,<br />

the winner of the Global<br />

Citizen Award 2016 was<br />

also announced.<br />

P<strong>res</strong>ident<br />

Coleiro Preca<br />

praised <strong>all</strong> the nominees<br />

of the Global Citizen Award,<br />

stating that ‘‘the focus of the<br />

work that has been done by<br />

<strong>all</strong> distinguished nominees for<br />

this year’s Global Citizen Award,<br />

is central to peace and wellbeing,<br />

and to sustain various<br />

vulnerable communities<br />

to live a meaningful<br />

life’’.<br />

This<br />

year’s Global<br />

Citizen Award was<br />

awarded to Dr Imtiaz<br />

Sooliman – the founder of the<br />

Gift of the Givers Foundation. This<br />

The<br />

P<strong>res</strong>ident<br />

said that when as<br />

a society, we commit<br />

ourselves to well-being,<br />

we are ‘‘emphasising our<br />

willingness to develop<br />

meaningful relationships’’<br />

foundation is the largest disaster<br />

relief group of African origin. Gift<br />

of the Givers has worked in many<br />

countries around the world,<br />

including Bosnia, Pakistan,<br />

Somalia, Haiti and<br />

Zimbabwe.<br />

The<br />

and to ‘‘the creation of a event was<br />

global culture of social also add<strong>res</strong>sed<br />

solidarity’’. by Deputy High<br />

Commissioner of<br />

UNHCR, Kelly T.<br />

Clements. <strong>MBR</strong><br />

Creditline: DOI, Photos: OPR<br />

54


newsmakers<br />

Malta Business Review<br />

Faculty of Science Students with the Auditor General<br />

Charles Deguara of NAO, Photo:NAO<br />

This morning the National Audit Office (NAO)<br />

welcomed a group of students whose main line<br />

of study is Mathematics, Banking, and Statistics<br />

& Operational Research from the Faculty of<br />

Science at the University of Malta.<br />

Add<strong>res</strong>sing the students, the Auditor<br />

General Charles Deguara highlighted the<br />

main objectives and functions of the NAO,<br />

sometimes referred to as the ‘guardian of the<br />

public purse’. He emphasised that ultimately<br />

the main objective of the Office was that the<br />

efficiency and effectiveness of Government<br />

departments and entities continues to be<br />

enhanced within the context of prevailing<br />

rules and regulations in the best inte<strong>res</strong>t of the<br />

Maltese taxpayer.<br />

The Deputy Auditor General Noel Camilleri<br />

spoke about the relationship between the<br />

National Audit Office and Government<br />

Departments (auditees), drawing on his<br />

experience in the Public Sector. He emphasised<br />

that the NAO must not be seen solely in the<br />

light of its oversight function, but also as an<br />

agent of change.<br />

Brian Vella, Assistant Auditor General heading<br />

Visit by Faculty of Science Students<br />

The National AUDIT OFFICE<br />

the Performance Audits Section, also add<strong>res</strong>sed<br />

these students. He spoke of the importance<br />

of the NAO as a catalyst in improving public<br />

governance. He introduced the NAO’s<br />

organisational structure and referred to the<br />

diverse professional qualifications of NAO staff.<br />

He also outlined the types of audits that the<br />

Office carries out and explained the audit tools<br />

and techniques used by NAO auditors.<br />

Kirsten Abela, the Education Officer on behalf<br />

of S-Cubed for this term, the faculty based<br />

organisation for science students, organised<br />

this educational visit at NAO. <strong>MBR</strong><br />

CREDIT: THE NATIONAL AUDIT OFFICE<br />

Parliamentary Secretary Ian Borg announces the launch of two additional grant schemes<br />

with a budget of €6 million, as part of the Business Enhance ERDF Grant Schemes initiative.<br />

Parliamentary Secretary for the EU P<strong>res</strong>idency<br />

2017 and EU Funds Ian Borg announced<br />

the launch of a further two schemes under<br />

the Business Enhance ERDF Grant Schemes<br />

initiative; the E-Commerce Grant Scheme and<br />

the SME Consultancy Services Grant Scheme.<br />

The two schemes add<strong>res</strong>s priority areas<br />

under Operational Programme Operational<br />

Programme I Cohesion Policy 2014-2020<br />

‘Fostering a competitive and sustainable<br />

economy to meet our ch<strong>all</strong>enges’.<br />

Parliamentary Secretary Borg stated that<br />

e-Commerce rep<strong>res</strong>ents an opportunity for<br />

businesses to exploit their potential to increase<br />

their market share and reach new markets by<br />

considering incorporating online selling.<br />

At a time when local SMEs are still transitioning<br />

to e-commerce, the e-Commerce Grant<br />

Scheme, with a €5 million budget, will support<br />

SMEs through a maximum grant of €5,000<br />

to develop an e-commerce website and/or a<br />

mobile application, with part-financing eligible<br />

expenditure up to 50%. This Scheme f<strong>all</strong>s<br />

under Priority Axis 2 ‘Consolidating investment<br />

within the ICT sector’.<br />

Parliamentary Secretary Borg explained that<br />

the SME Consultancy Services Grant Scheme,<br />

with a budget of €1 million, will support SMEs<br />

through the provision of a maximum grant of<br />

€4,000 and is aimed at facilitating SMEs’ access<br />

to consultancy services to develop Business<br />

Plans, Feasibility Studies, Process and Systems<br />

Reviews and Organisation and Operations<br />

Reviews. This initiative f<strong>all</strong>s under Priority Axis<br />

3 ‘Enhancing Malta’s competitiveness through<br />

investment in SMEs’<br />

These identified schemes will be managed<br />

on a demand-driven basis through an open<br />

rolling-c<strong>all</strong>, and will be open to receive project<br />

proposals as from Thursday, 10 November 2016.<br />

Borg concluded his speech by stating that<br />

the launch of these two schemes under the<br />

Business Enhance ERDF Grant Schemes which<br />

are administered and managed by the Measu<strong>res</strong><br />

and Support Division within the Ministry for<br />

European Affairs and Implementation of the<br />

Electoral Manifesto with a total of €31 million<br />

in assistance to SMEs. Parliamentary Secretary<br />

Borg thanked the MCA and GRTU for their<br />

collaboration towards the development of<br />

this scheme. <strong>MBR</strong><br />

Courtesy: DOI/THE PARLIAMENTARY SECRETARIAT FOR<br />

THE EU PRESIDENCY 2017 AND EU FUNDS<br />

Parliamentary Secretary Ian Borg add<strong>res</strong>sing the PC<br />

Photo: DOI- Clodagh Farrugia O’NEil<br />

In the first edition of the Malta Gaming Awards,<br />

Maltco Lotteries, Malta’s national lottery<br />

brand, has been awarded the p<strong>res</strong>tigious Malta<br />

Gaming Award for Corporate Responsibility<br />

of the Year 2016. Against stiff opposition from<br />

fel<strong>low</strong> finalists LeoVegas and Unibet,<br />

Maltco Lotteries were selected as the company<br />

with the strongest commitment to Corporate<br />

Responsibility, a key part of the Maltco Lotteries<br />

operating principle. Maltco Lotteries is certified<br />

by the World Lottery Association’s Responsible<br />

Gaming Framework and by the European<br />

Lotteries Responsible Gaming Standards, the<br />

highest standards attainable in the global<br />

gaming industry. Maltco Lotteries has led the<br />

standards in the local gaming industry to ensure<br />

that everyone working with the Maltco portfolio<br />

of games are fully conversant with Responsible<br />

Maltco Lotteries, winners of the Malta Gaming Award<br />

for Corporate Responsibility of the Year 2016<br />

Gaming principles as advocated by the company.<br />

Maltco also contribute €50,000 towards the<br />

Responsible Gaming Fund and has undertaken a<br />

programme to train over 600 Maltco agents and<br />

their assistants on Responsible Gaming.<br />

The Malta Gaming Award for Corporate<br />

Responsibility of the Year 2016 took place the<br />

evening before SiGMA16, during the Malta<br />

Gaming Week. The organisers said that three<br />

featu<strong>res</strong> make these Awards unique, being that<br />

firstly, nominees must have a strong connection<br />

with Malta, secondly that <strong>all</strong> proceeds from this<br />

event will go to charity, and fin<strong>all</strong>y the awards<br />

will be held during the Malta Gaming Week.<br />

The event was hosted by Liverpool legend John<br />

Barnes and attended by the guest of honour,<br />

Her Excellency, the P<strong>res</strong>ident of Malta,<br />

Marie Louise Coleiro Preca. The first edition<br />

featured a sm<strong>all</strong> number of awards, <strong>all</strong> of<br />

which have a special connection with the<br />

gaming ecosystem in Malta.<br />

A Spokesperson for the company said that they<br />

are proud to have been selected as Malta’s<br />

number one on Corporate Responsibility for<br />

2016. All of the team at Maltco Lotteries,<br />

including our <strong>25</strong>0 partners and agents, wish<br />

to congratulate <strong>all</strong> of the nominees who were<br />

selected by the organizing committee, the<br />

judging panel and the industry. She also said that<br />

they are delighted that <strong>all</strong> the effort, discipline<br />

and security performed by the company<br />

in order to operate within the Responsible<br />

Gaming framework, was recognised by the<br />

judges and the industry. <strong>MBR</strong><br />

For further information email info@maltco.net, visit the<br />

Maltco website www.maltco.com or c<strong>all</strong> 2388 3000.<br />

ABOUT MALTCO<br />

MALTCO Lotteries offers a comprehensive portfolio of entertaining games of chance and skill based on<br />

Responsible Gaming Principles that makes a major contribution to the social and economic development<br />

of the Maltese Islands. The company is one of the major contributors towards the Responsible<br />

Gaming Fund administered by the Government of Malta. MALTCO operates a comprehensive training<br />

programme for agents and their assistants in recognition of their channel partnership. The company<br />

supports many good causes and sponsors several local sports.<br />

www.maltabusinessreview.net<br />

55


Malta Business Review<br />

M A L T A ' S F I R S T F U L L Y A U T O M A T E D<br />

INTERNET PAYROLL<br />

W W W . S A L A R O O . C O M<br />

MAINTENANCE FREE<br />

SEPA COMPLIANT<br />

®<br />

S O F T W A R E S Y S T E M S<br />

sales@dakarsoftware.com<br />

www.dakarsoftware.com<br />

T +356 2137 4078<br />

F +356 2137 4090<br />

56

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