Issue link: https://maltatoday.uberflip.com/i/299616
12 Business Today maltatoday, WEDNESDAY, 23 APRIL 2014 MCAST hosts mock European election vote JEF Malta held another dialogue session with MEPs as part of their ongoing awareness campaign on Eu- ropean affairs at MCAST in Paola. A mock European election vote amongst MCAST students was held at the end of the event. Moderated by Nicole Tabone, MEP candidates taking part were Miriam Dalli, Stefano Mallia, Jonathan Shaw, Helga Ellul, Arnold Cassola, Cyrus Engerer and Deborah Schembri. Introducing the proceedings, JEF Malta President Christopher Scicluna said that the event was being organised on the MCAST Campus to demonstrate the importance of active European citizenship by Maltese youth, this year more than ever with the European election just around the corner on 24 May. The event, organised in conjunction with the European Parliament Information Office in Malta (EPIO), was an opportunity for youths to put their concerns to the candidate MEPs. The debate covered a lot of ground including ideas presented by the candidate MEPs on how Malta can build on its recent success in tourism, ICT and financial services. The MEPs discussed the importance of fostering a culture of innovation, educational reform supporting growing sectors in ICT and finance and initiatives to attract foreign investment. A wide-ranging discussion came to an end before a mock vote was taken, with Labour hopeful Miriam Dalli coming out on top followed closely by PN candidate Stefano Mallia. A mock European election vote amongst MCAST students was held at the end of JEF Malta's 'Youth Employment' event on the MCAST campus Cruise passenger traffic up 88.4% in first quarter Total cruise passenger traffic during the first quarter amounted to 38,138, an increase of 68.4% over the corre- sponding period last year. There were 23 cruise liner calls during the first quarter – 10 more than last year. Transit passengers accounted for the vast majority of total traffic, reaching 38,088. Visitors from EU Member States accounted for 92.8% of the total, with the major markets being the Germany, France and Italy. On the other hand, the total number of passengers from non-EU countries stood at 2,760, of which 15% came from the United States. On a gender basis, female passengers made up 52.5% of the total. The largest share of passengers fell within the 60- 79 age bracket and were followed by those aged between 40 and 59. KPMG appoints two new associate directors KPMG Malta has appointed two new associate directors – Clifford Delia within the Accounting Support Serv- ices function and Antoinette Borg within the firm's Advisory function. Clifford joined KPMG in 2003 after graduating in accountancy from the University of Malta. For five years, he advanced in Audit where he led several audit engagements and was also seconded to KPMG in Ireland to undertake audit work there, particularly on investment funds. During his time in audit, Clifford studied for and obtained the CISA qualification, which enabled him to also obtain experience on IRM and IT audits. In 2008 Clifford moved to Accounting Support Services where he was promoted to manager and later senior manager. In Accounting Support Services, Clifford oversaw the introduction and implementation of a number of initiatives aimed at improving the efficiency and the quality of the work undertaken in Accounting Support Services. During this time, he also studied for and obtained the Malta Institute of Management diploma in VAT and the Malta Institute of Taxation diploma in Taxation. Antoinette Borg, since joining KPMG in 2013 has taken a senior role on a number of engagements within the Transactions & Restructuring space, with a particular focus on Mergers and Acquisitions where Antoinette manages a portfolio of transactions. Prior to joining KPMG, Antoinette worked within the local government's management consulting arm, where she fulfilled a principal role advising government on management, restructuring and selective divestment of state-owned enterprises. Over a 14-year period, Antoinette has provided advice on valuations of assets, shares and businesses, assisted with the preparation of business plans and financial projections, and also with project financing exercises and investment appraisals. Antoinette's transaction experience capitalises on her involvement in numerous deals implemented as part of government's privatisation agenda and more recently on end-to-end M&A advisory mandates. Antoinette holds an MBA from Henley Management College and a B.A. (Hons.) in accountancy from the University of Malta. She is a certified Public Accountant and a Chartered Global Management Accountant. Antoinette is an Associate Member of the Chartered Institute of Management Accountants (UK) and a Fellow of the Malta Institute of Accountants. MSV Life plc presents 2013 Results to Insurance Intermediaries MSV Life p.l.c. recently held a presen- tation of the 2013 financial results of the Company to its insurance intermediar- ies. During this well attended presentation held at the Corinthia Palace in Attard, David G. Curmi, Chief Executive Officer of MSV Life gave an overview of the 2013 results in which the Company registered a profit before tax of €15.48 million for the year ended 31 December 2013 sustaining the profitability patterns emerging in the prior year which saw the Group report €15.98 million profit before tax. During the same presentation Curmi also announced an increase in the Company's 2013 Regular Bonuses under its core savings and investment products from 3.1% to 3.35%. Stuart Fairbairn, Chief Officer – Business Development presented the audience with the Company's ongoing business strategy and also highlighted various new product launches and incentives, among which a business incentive scheme for intermediaries which will run for the next six months. During his presentation, Fairbairn also announced a special offer on all maturing Single Premium Plans in which the Company would be allocating an additional 2% on the re-invested portion of the maturity value of the plan. The purpose of this annual presentation is to provide a detailed explanation of MSV Life's performance during the previous year and the plans and objectives of the Company for the current year. MSV Life's strong multi-channel distribution network plays a very important role in the performance of the Company. Curmi stated "through these presentations we seek to involve our intermediaries, bring them closer to the Company and encourage them to provide us with ideas, voice concerns and continue to work with us as important stakeholders". MSV Life p.l.c. is authorised by the Malta Financial Services Authority to carry on long term business under the Insurance Business Act 1998 COM090414 Inflation rate for March at 1.11% Annual rate of inflation based on the Retail Price Index stood at 1.11 per cent During March, the annual rate of in- flation stood at 1.11%. A year earlier the annual rate was 1.97%. The largest upward impacts on annual inflation were recorded in the Beverages and Tobacco Index (0.38 percentage points), the Recreation and Culture Index (0.21 percentage points) and the Food Index (0.18 percentage points). This was mainly due to costlier cigarettes, tuition fees and served meals respectively. A downward impact was recorded in the Transport and Communications Index (-0.06 percentage points) mainly due to lower fuel prices. The 12-month moving average rate was 1.10%.