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13.06.19 15 INNOVATION REAL gross domestic product (GDP) in the G20 area grew by 0.8% in the fi rst quarter of 2019, slightly above the previ- ous quarter's 0.7%, according to provisional estimates. GDP growth rebounded in Turkey to 1.3% in the fi rst quarter of 2019, following a strong contraction of 2.4% in the previous quarter. Growth also increased in Germany (to 0.4%, from 0.0%), in the United States (to 0.8%, from 0.5%), the United Kingdom (to 0.5%, from 0.2%), Australia (to 0.4%, from 0.2% in the previous quarter), Italy (to 0.1% after a contrac- tion of 0.1%) and, more mod- erately, in Japan (to 0.6%, from 0.5%). GDP growth was stable in In- donesia and Canada (at 1.2% and 0.1%, respectively). GDP growth slowed signifi - cantly in South Africa and Ko- rea (contracting by 0.9 % and 0.4%, respectively, compared with positive rates of 0.3% and 0.9% in the previous quarter), and more moderately in Bra- zil and Mexico (minus 0.2% in both countries, from 0.1% and 0.0%, respectively). GDP growth decelerated marginal- ly in China and India (to 1.4%, from 1.5%, in both countries) and in France (to 0.3%, from 0.4%). Year-on-year GDP growth for the G20 area was stable at 3.3% in the fi rst quarter of 2019, with China recording the high- est growth (6.4%) and Turkey the lowest (minus 2.8%). Year- on-year GDP growth for the OECD area was also stable, at 1.8% GDP growth in G20 area picks up slightly in Q1 of 2019 BOV has moved its Gozo Investment Centre and is in the fi nal stages of mov- ing its Agency in Xagħra to new up- graded premises. BOV CEO Mario Mallia and Chief Offi cer Retail Banking Horace Laudi greeted Gozo minister Justyne Caruana when she visited these new offi ces and the Bank's main branch in Victoria. "At Bank of Valletta, we fully under- stand the needs of Gozo. We remain close to the communities that we serve, working with our Gozitan customers and providing support through our ex- pertise and value-added services," Mallia said. "Bank of Valletta is a very active play- er in the Gozitan community," he said. " e Bank supports a number of cultur- al, philanthropic and sporting initiatives in Gozo such as the operas produced by the two main theatres in Gozo, the restoration of works of art such as the Giuseppe Cali Paintings at the old Għa- jnsielem Church and the original Emvin Cremona paintings at Ta' Pinu Church. We are also the main sponsors of the Gozo Football Association." " e improved facilities at both of our new outlets will ensure that our customers receive the highest level of service and a superior customer experi- ence in a larger, modern environment," Laudi said. "Our ever increasing commitment to- wards the Gozitan community goes way beyond new facilities and excellent fi - nancial services. Over the past years we have substantially increased the number of BOV employees deployed in Gozo's Branch, agencies and departments, cur- rently standing at 117 employees." Caruana said that the economy in Gozo was indeed thriving thanks to the vision outlined by this Government, that of transform the island into a hub for economic activity. " e supportive framework for the at- traction of business investment at the national level is helping us to achieve our goals," she said. She thanked Bank of Valletta for in- vesting in its most important asset in Gozo, the human capital, which now a day stands at over 100 employees. e new Gozo Investment Centre is located at Il-Mall in Triq Giorgio Borg Olivier in Victoria while the new Xagħra Agency can be found in Triq it-Tmienja ta' Settembru. Bank of Valletta upgrades Agency and Investment Centre in Gozo

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