Issue link: https://maltatoday.uberflip.com/i/1517916
maltatoday | SUNDAY • 24 MARCH 2024 7 COMMERCIAL 'Essential to the communities we serve': For GSD Marketing Ltd, water is a priority AS individuals and organiza- tions around the globe come to- gether to recognize World Water Day, there is a renewed emphasis on our collective duty to not on- ly respect but actively safeguard our invaluable water resources. Bearing significance far beyond being a primary component in refreshing beverages, water re- mains a core element for the sustained success of our industry as well as for the vitality of the communities we serve. It's time we address this crucial issue with the urgency and commitment it deserves. At the heart of our environ- mental stewardship is a compre- hensive water strategy - a pledge to ensure sustainable water se- curity. This is executed through various robust initiatives, in- cluding localized water replen- ishment projects, advocacy for intelligent water policies, and a commitment to responsible wa- ter management across our oper- ational processes and within the communities we call home. One exemple of such com- mitment is the Alter Aqua Pro- gramme, a visionary project launched in November 2011 to combat the pressing issue of water scarcity in the Maltese Is- lands. Its mission is not only to mitigate the challenges but also to foster sustainable practices to conserve freshwater resources. Spearheaded by the NGO Global Water Partnership Mediterrane- an, the programme has since ex- panded from its initial focus area, Gozo, to encompass Malta, with the Energy and Water Agency coming onboard as a strategic partner in 2014. In its 13 years, the Alter Aqua programme has made substantial strides, with more than 25 sites benefiting from its interventions and a considerable investment of $1.4 million from The Coca-Co- la Foundation. The initial phas- es concentrated on augmenting water availability by means of innovative rainwater harvesting and the use of greywater, coupled with a thorough campaign to ed- ucate the public on the essentials of judicious water consumption and conservation. The programme's subsequent phases pivoted towards the re- vival of Malta's historic water reserves. A remarkable achieve- ment in this effort is the refur- bishment of a large rainwater reservoir within San Anton Pal- ace's grounds. Once inactive for three decades, the reservoir, ca- pable of holding over one million liters, now sustains the palace's iconic orange groves. The ripple effect of such initiatives can be seen with the restoration of two water reservoirs in Birgu, three in Kalkara, and one at Rinella - rein- stating these sites as life-serving resources for irrigation and land- scaping around historical land- marks. All these initiatives con- tribute to over 19 million litres of water saved on an annual basis. Moving forward, the pro- gramme has outlined ambitious objectives, including the resto- ration of additional reservoirs in Birgu and a reservoir in Pie- ta, ensuring the collected water therein supports landscaping requirements and provides alter- nate water sources for the related facilities. 'Artist Edition' 1919 wine range celebrating art and wine MARSOVIN Winery proudly unveils the 2023 vintage of its distinguished 'Artist Edition' wine series, 1919, cele- brating the founding year of Marsovin by Chevalier Anthony Cassar. As a long-standing supporter of the Maltese art scene, Marsovin' s 1919 range intertwines the realms of wine and art, showcasing the rich connection be- tween the winery and local artists. Each year, a gifted Maltese artist is handpicked to create a visual rep- resentation of the harmonious blend of wine and art cultures. Their work is subsequently digitized and incorporated into the labels of the 1919 white, rosé, and red wines, maintaining a distinctive style and presentation. Their stunning art pieces proudly adorn the walls at Marsovin Winery as part of its esteemed art collection. This year, Henry Falzon's paintings grace the vintage labels. "My father is a winemaking enthusiast, and I've always assisted him in fermenting grapes. Being familiar with the process, I sought to pay tribute to the vines that produce these grapes. I visited one of Masovin' s vineyards and became mes- merized by the vines and their dancing shadows at different times of the day." – Henry Falzon. The 1919 wine series continues to gain popularity, resonating with both local and international wine enthusiasts. The 1919 white is a blend of Chardon- nay, Moscato and indigenous Girgenti- na grapes. Resulting in a dry, rounded white wine of character with fruity notes of apples, limes, and a hint of orange blossom developing some nutty buttery undertones with time. The 1919 rosé, crafted from Grenache, Shiraz and in- digenous Ġellewża grapes displays a clear and vibrant colour with fresh aro- mas of rose petals, ripe cherries, and light mineral herbaceous undertones. Finally, the 1919 red blends Ġellewża and Mer- lot to create a complex, full-bodied wine bursting with robust fruit flavors of for- est berries, Amarena cherries, and figs, accentuated with hints of pepper, sweet spice, and fresh tobacco. BOV experts discuss economy and investment basics with retail clients BANK of Valletta hosted a financial ed- ucation seminar highlighting important aspects of the local economy and invest- ment basics with a view of helping the public make informed decisions when dealing with their financial wellbeing. The Bank is investing heavily in the fi- nancial literacy of the communities it serves. Malcolm Bray, who heads the Bank's Economic function, gave an overview of the local economic landscape. He high- lighted several variables like the sectoral diversification achieved over the past dec- ades, the record low unemployment rate, coupled with the expected easing of infla- tionary pressures, the record year for tour- ism, and the ongoing growth in residen- tial house prices. "The present favourable economic conditions are also supported by the low pass-through of ECB rates to domestic lending rates. Indeed, household rates and corporate rates are currently the lowest among euro area countries," he ex- plained. Mr Bray also referred to the life cycle theory of consumption to highlight the critical importance of saving during our working age so that we can maintain existing consumption patterns once we retire when income decreases. Bond and Equity Markets were particular areas of interest in the information session. At- tendees were given an overview of bonds, how they work, and the main factors that affect the bond market, such as inflation, interest rates, credit rating, liquidity, and bond maturity. An overview of the local Equity Market, both by sector and indus- try, was also put forward, with particular emphasis on how shares entail more risk than bonds but entitle the holder to be- come part of the ownership of a company, with the possibility of earnings coming from dividends or increases in share price. Informative statistics about the local equi- ty market showed a predominance in Mal- ta by finance and real estate. The public's response to the financial education seminar shows that there is a growing demand in the market for further knowledge in finance, an area that Bank of Valletta is keen to invest in. The personal customer segment is showing particular interest to these sessions, with financial skills and investment basics at taking cen- tre stage. The Bank encouraged anyone interested to participate in similar future evets to approach the Bank's Business Development Unit by calling 22751122. Satisfaction with participants' response to the content was expressed by Kenneth B Micallef, who heads the Bank's Business Development arm, as well as Clayton Sci- cluna, one of the Bank's Lead Portfolio Managers and David Pace Ross, Senior Manager within the Bank's Stockbroking and Capital Advisory arm who presented the content to participants.