Issue link: https://maltatoday.uberflip.com/i/1499533
11 NEWS 18.5.2023 MEDIRECT Malta has launched a new property investment loan, designed for investors who are looking to add a prop- erty to their portfolio of assets with the aim of benefitting from future apprecia- tion in the value or of generating rental income. To be able to apply for this loan, inves- tors are required to have a minimum de- posit of 25 per cent of the value of the property and satisfy other lending crite- ria. e maximum term of the loan is 25 years, or up to retirement age of 65. MeDirect aims to issue quotes for its Property Investment Loan, as with all the other Lending Products offered, within 2 to 3 days, therefore giving customers a faster and market-leading turnaround. Larissa Ciantar, Senior Manager – Mortgage Lending at MeDirect Malta, said, "Since launching home loans just over two years ago, MeDirect has estab- lished a reputation for quickly process- ing applications from clients, normally within just 2 to 3 weeks. As Malta's first digital bank we make every effort to maximise the benefits of technology to ensure clients can easily access products and services through our app or website. is commitment to providing a quick and efficient service is also central to our new Property Investment Loan, giving investors the opportunity to move for- ward with their purchase with the least possible delay." Becoming a landlord is a significant step for any investor and requires de- tailed planning. Unlike the purchase of a residential or holiday home, primary consideration needs to be given to the potential of the purchased property to enhance the value of a portfolio and gen- erate income. In this respect, MeDirect's Property Investment Loan is designed specifically for those investors able to finance new borrowings from existing income. Ciantar added, "MeDirect continues to innovate in the mortgage sector across all our markets in Malta, Belgium and the Netherlands. In just two years we have grown our total mortgage portfolio across the group to more than €2 billion. e new Property Investment Loan, which we have launched first in Malta, is the next step in making MeDirect the go-to provider for those wishing to buy a property as an investment with a prom- ise that their loan applications will be processed in a matter of days." More information on MeDirect's Prop- erty Investment Loan is available at https://www.medirect.com.mt/proper- ty-investment-loans/ MeDirect launches new loan for property investors Local R & I project provides AI solutions to help pilots in case of automation failure THE results of SmartAP, a project led by the the Institute of Aerospace Tech- nologies at the University of Malta and was carried out in collaboration with QuAero Ltd., a local aviation consul- tancy company were disseminated during a public engagement event held on Wednesday, the 10th of May at the EsploraPlanetarium Hall, Kalkara. Smart Artificial Pilot developed solu- tions based on Artificial Intelligence (AI) to help pilots understand better what is happening in order to be in a better position to recover the airplane if the automation fails. e project specifically addressed two main areas of concern during flight: loss of control (due to aerodynamic stalls) and loss of situation awareness. e project re- ceived circa €200,000 under the Fusion the national R & I funding programme, administered by the Malta Council for Science and Technology (MCST). Current large transport airplanes – such as those manufactured by Air- bus and Boeing – are equipped with advanced automation that flies and manages the airplane throughout a flight. As a result, the role of pilots is increasingly becoming that of oversee- ing this automation and of taking over if the automation fails. e project idea came about in response to the increase in the complexity of automation and the over-reliance of pilots on it result- ing in a disconnect between pilots and the airplane, which has contributed to a number of fatal accidents. e Parliamentary Secretary for Youth, Research and Innovation Keith Azzopardi Tanti said that this is an- other step that brings people closer to technology. He stated "Technology is a tool that we must go with and try to adapt it to give us help in the weak- est things that we have or that hinder us, as in fact is this Smart Artificial Pilot that will offer the necessary as- sistance to all pilots so that through Artificial Intelligence they have more peace of mind in stressful situations." e Parliamentary Secretary ended his speech by thanking all those who were involved in this project and expressed the wish that more researchers follow in their footsteps. MCST Chairman, Dr. Tonio Por- tughese said that: "the Malta Council for Science and Technology, will con- tinue playing the important role it has been playing to date, exploring incen- tives and measures in the areas of Re- search and Innovation." He added that MCST will continue to serve as the cat- alyst, through its funding programmes and through active involvement, to bring together our educational insti- tutions with players from the private sector in synergy for the achievement of their mutually desired goals. Dr Ing. Jason Gauci, co-investiga- tor of SmartAP said: "SmartAP has demonstrated some of the benefits that Artificial Intelligence can bring to the cockpit, and has shown that AI can as- sist pilots in various scenarios. As AI becomes more sophisticated we can expect it to play a bigger role, not only in the cockpit but in the entire aviation ecosystem." FUSION is a national funding pro- gramme that drives and supports local Research and Innovation (R&I), as well as providing the necessary support for researchers and technologists to turn their innovative ideas into a mar- ket-ready reality. FUSION is support- ed through Malta Government funds and is managed by the Malta Council for Science and Technology (MCST) as the Managing Authority. MCST Chairman Dr. Tonio Portughese (left) and Parliamentary Secretary for Youth, Research and Innovation Keith Azzopardi Tanti addresing attendees at the event