Issue link: https://maltatoday.uberflip.com/i/248536
42 Events maltatoday, Sunday, 26 January 2014 Central Bank of Malta releases monetary statistics The Central Bank of Malta has just issued its commentary on the release of monetary statistics for October 2013 Deposits of Maltese residents In October, deposits within M3 belonging to residents of Malta and held with resident Monetary Financial Institutions (MFIs) expanded by €206.2 million, or 2.2% on the previous month. Consequently, the annual growth rate of these deposits accelerated to 7.8% from 6.1% one month earlier. As in previous months, the rise in deposits stemmed primarily from an increase in overnight balances. The latter grew by €206.1 million, or 3.8%, driven by higher balances belonging to all economic sectors, particularly non-bank financial intermediaries, non-financial companies (NFCs) and households. In part, this rise reflects the redemption of two Malta Government Stock (MGS) issues that occurred during the month. Deposits with an agreed maturity of up to two years rose marginally by €1.9 million, or 0.1%, as an increase in private NFCs' holdings was partly offset by lower balances held by insurance companies and pension funds. In contrast, deposits redeemable at a notice of up to three months fell by €1.7 million, or 1.5%, as households' balances declined. Credit extended to Maltese residents In October, credit granted by resident MFIs to residents of Malta con- tracted by €74.8 million, or 0.7%, on the previous month. Year-onyear, however, credit expanded by €0.2 billion or 1.8%. Over the month, credit to general government fell by €62.2 million, or 2.3%, as an increase in the banks' Treasury bill holdings was offset by a fall in their MGS portfolio in line with the redemption of two MGS issues, as mentioned above. In annual terms, credit to general government rose by 9.8%. Meanwhile, credit to other sectors, mainly comprising households and private sector NFCs, contracted by €12.6 million, or 0.1%, during the month of October. While loans granted to house- Liquigas Malta launches third AutoLiquigas Fuelling Station at St Andrews Liquigas has kept and will continue to keep its promise that the price of AutoLiquigas remains 50% that of petrol. On an individual level, users are constantly saving up to 50% on fuel costs for using their converted cars. This benefit, together with the incentive scheme launched by government last year and extended till December 2014, has already led to the conversion of more than 450 car conversions since the launch of AutoLiquigas in Malta on 22 May 2012. This was announced by Liquigas Malta CEO, Roberto Capelluto, during the launch of the third AutoLiquigas fuelling station today at Wembley Service Station at St Andrews. "The increase in volumes, both the number of conversion requests and the authorized conversion kits installers are sending a clear message from the Maltese market: Maltese consumers are becoming increasingly aware of the benefits of this source of alternative fuel." The Minister for Sustainable Development, the Environment and Climate Change Leo Brincat, the Minister for Energy and the Conservation of Water Konrad Mizzi, company representatives Paul Agius Delicata, Stephen Muscat, Jesmar Mifsud and Noel DeBattista, and the owner of the station, Matthew Bonello, were present for the launch of this autogas station, conveniently located on St Andrews Road to serve cars commuting on this main road artery in Malta. The first AutoLiquigas fuelling station was opened in 2012 at Malta International Airport service station, while the second one was launched in June 2013 at Għajn Buqana, limits of Rabat. Liquigas Malta is already working towards installing an AutoLiquigas dispenser in Gozo. AutoLiquigas is much cheaper than petrol or diesel. With the current selling price of AutoLiquigas in Malta at €0.72 per litre, it is half the price of petrol (currently at €1.44), and 53% cheaper than diesel (currently at €1.36). Car conversions are particularly cost effective for those car owners who use their vehicles daily. Liquigas Malta CEO Roberto Capelluto (second from right) addressing the press conference. (From left) Jesmar Mifsud, Stephen Muscat, Kevin Bonnici, Matthew Bonello, Paul Agius Delicata, Minister for Energy Dr Konrad Mizzi, Minister for Sustainable Development Leo Brincat, and Noel DeBattista In this regard, Capelluto invited the government to give a strong example by converting to autogas the public transport including buses, taxis, ambulances, as well as the vehicles used by government. In Europe, cities like London, Valladolid (110 buses using LPG), Vienna (550 buses using LPG for the past 15 years), Copenhagen (180 buses using LPG), Madrid, Brussels (the Municipality's car fleet) all make use of autogas, while in Tokyo 250,000 taxis are obliged to run on autogas. Liquigas is prepared to collaborate with the Authorities to make Malta another example of clean fuel user, starting from its public transportation. Vehicle LPG conversions are being carried out by four authorised autogas installers. LPG conversion results in a dual-fuel car – that is a car that can run on either LPG or petrol at the flick of a switch, even while driving. A switching device will be fitted on the dashboard to allow the driver to select between petrol and LPG. The cost of an LPG conversion is between €700 and €1,200, depending on the vehicle being converted. However, the initial cost for conversion can be recouped via lower running costs, as one can save up to 50% on fuel costs. As LPG is much cleaner fuel, there is less wear and tear on the car's engine and its life will be prolonged. Considering the volatile fuel prices and concerns over supply, air quality, climate change and the ongoing global economic crisis, Malta – like other European countries – needs to make optimum use of available energy resources. AutoLiquigas will ease Malta's transition to a low-carbon economy and will be making a meaningful contribution to the EU's efforts to reduce CO2 by 20% by 2020. holds, primarily for house purchases, increased, loans granted to NFCs – mostly those operating in the manufacturing, transportation & storage and construction sectors – declined. On an annual basis, credit to the other sectors contracted by 0.4%. Net foreign assets of Maltese MFIs With regard to net foreign assets belonging to resident banks, these fell by €1.8 billion, or 15.1%, on the previous month as a substantial decline in foreign claims exceeded a fall in foreign liabilities. The large movements in foreign assets and liabilities seen in October mainly reflected cross-border transactions of international banks that operate from Malta. The decline in foreign assets mostly reflected a reduction in loans granted to foreign banks. On the other hand, the drop in liabilities arose mainly from a lower amount of non-residents' deposits held with resident MFIs. On an annual basis, net foreign assets contracted by 18.9% as opposed to a 3.9% drop in September. Further economic and monetary information can be obtained from the website of the Central Bank of Malta www. centralbankmalta.org Maltco Lotteries embarks on a national project to promote responsible gaming In a press conference addressed by Maltco's CEO Ioannis Katakis on Thursday afternoon, the company expressed the significance that it attaches to responsible gaming in order to prevent those under 18, and vulnerable people from participating in Maltco's games and by a self-assessment procedure to assist the ones that need help. "We do not just create our games and advertise them on the market, we analyse and design From left: Ioannis Katakis and Laura Da Silva them in a way that they can be played in a responsible way," Katakis said. Maltco organised this initiative as part of The company's primary aim is to promote the global initiative being promoted by the responsible gaming not only to its players World Lotteries Association together with but also to the general public. the European Lotteries both of which MaltIn an effort to further improve this con- co is a member representing Malta. Both cept, the company gives regular training to organisations have established guidelines its agents, sellers and employees. Every Point for implementing Responsible Gaming and of Sale has been given an Information Pack in the case of Maltco Lotteries a certificaon the subject containing detailed informa- tion will be given. The Responsible Gaming tion related to how a gambler can be identi- training will help Maltco's games and operafied, what are the main symptoms of prob- tions to be differentiated from other types of lem gambling, what help should be offered to irresponsible gaming thus increasing credplayers identified as problem gamblers. Ka- ibility and confidence level of the Maltco's takis said also that anyone can undertake a games offered to the players. self assessment test to check whether he/she The company dedicated the past week to is in a risk of becoming an addictive gambler. Responsible Gaming. In view of this, Laura This test can be undertaken either in one of Da Silva, an international expert on the subMaltco's Points of Sale or on the company's ject was invited to come to Malta to give website. specialized training to all Maltco's agents, Katakis spoke also about the regular in- sellers and employees. volvement and collaboration that Maltco Da Silva conducted also various meetings has with the Lotteries and Gaming Author- with Maltco's Management in order to help ity which produced a leaflet on Responsible them understand and learn practical tools Gaming and is distributed to all Maltco's on how to promote more the concept of agents and sellers. Maltco's CEO stated that Responsible Gaming. Da Silva said that she no recent information exists on Problem was very satisfied with the training given to Gambling in Malta other than that which Maltco's agents who were keen to learn and dates back to 2001. He said that with the help acquire any tools that they can use in their and collaboration of the government and daily encounters with their players: "Reother major stakeholders and entities, a ded- sponsible Gaming is not just about distribicated research on problem gambling, will uting leaflets and attaching signs, it is also allow everyone to understand better, such about understanding one's problem and givaddiction and where this problem stands in ing support to those gamblers in need. It is Malta. Maltco is prepared to contribute its very reassuring to know that in Malta there global experience and knowhow by forming are specialised centres who give professional part of the Intralot Group in implementing treatment to gamblers who seek help," she the Responsible Gaming concept in Malta. stated. Vodafone Malta Foundation drive children NUTS Vodafone Malta Foundation, year on year supports the annual Toy Run event organised by NUTS Motorcycle Club. Once again, Vodafone joined forces with the local bikers to provide an unforgettable experience to children that are constantly being helped by the Sisters of Missionary of Charity in Cospicua. The event started off at Badger Karting in Ta' Qali, where the children were given a few rides on the go karts and played on a huge castle. The bikers then gathered up and took off behind Santa's quad sledge packed with toys. On arrival at Marley's Restaurant in Baħar iċ-Ċagħaq, the kids were welcomed by animators, music, food and more presents with the highlight of the day that of a small ride on a few of the motorcycles, a truly unique feeling for the children.