Issue link: https://maltatoday.uberflip.com/i/323754
10 Business Today maltatoday, WEDNESDAY, 4 JUNE 2014 Stephen Xuereb appointed Chief Executive Officer at Valletta Cruise Port LGA participates in the first ever East meets West Regulators Summit in Manila The Malta Business Bureau announces new President Etihad Airways join Alitalia in equity investment Valletta Cruise Port plc the opera- tor of the Valletta Cruise Termi- nal and of the Valletta Waterfront announces the appointment of Stephen Xuereb as the Chief Ex- ecutive Officer of the Group with effect from the 1 June 2014. Xuer- eb succeeds John Portelli who has been at the helm of the Company over the past five years. Xuereb, a Fellow of the Chartered Institute of Accountants and a Henley MBA graduate, played a central role in Valletta Cruise Port plc's success (formerly Viset Malta plc) since its inception in 2002. Xuereb's current role is that of Group's Chief Finance Officer, a position he has occupied since 2009. He has been responsible for the setting up of the finance and administration function, overseeing the financing of the €37 million capital intensive project, as well as playing an active role in developing the cruise line business in Malta. He is also responsible for the travel retail operations within the Group. Xuereb has over 20 years of senior management experience, twelve of which in the cruise line industry. Speaking on behalf of the Board of Directors, Joseph Zammit Tabona, Chairman of Valletta Cruise Port plc, thanked Portelli for his sterling service to the Company during his term in office while welcoming Xuereb in his new role. Zammit Tabona added that Xuereb is being entrusted to deliver Valletta Cruise Port plc's vision to be one of the leading cruise ports in the Mediterranean. Xuereb stated that the cruise industry in Malta can only grow through the provision of consistently superior level of service and a unified effort from all stakeholders to promote and support the cruise line business. Ensuring that Valletta Waterfront remains a prime leisure and entertainment destination is also consistent to and critical in achieving such vision, Xuereb concluded. The Lotteries and Gaming Author- ity participated in the first ever 'East meets West' Regulators Summit held between 23 and 25 May in Manila, the Philippines. The event was hosted by the Philippine Gaming Corporation (PAGCOR) and Cagayan Economic Zone Authority (CEZA) and supported by First Cagayan Leisure & Resorts Corporation (FCLRC), the International Association of Gaming Regulators (IAGR) and the International Masters of Gaming Law (IMGL). Ten countries were represented, with regulators and delegations from Australia, Cambodia, Germany, Malta, the Philippines, South Korea and Singapore amongst others. The event was also attended by several high profile service providers and experts involved in the gaming sector. The summit was officially opened by President of IAGR, Lau Peet Meng, followed by a welcome address by PAGCOR chairman and CEO, Cristino L. Naguiat. The discussions and talks, including debates were focused on cross border communication, reciprocity of licence recognition, locals versus foreigners, remote gaming and anti-money laundering amongst other topics relating to the gaming sector. Some of the summit conclusions referred to the need for order in gaming regulation, regional co- operation to provide a framework for uniformity in probity checks, an approach to AML that is tailored to the gaming industry, crime mitigation and the adoption of robust responsible gaming principles. Commenting on this event, Joseph Cuschieri, Executive Chairman of the LGA said: "This event was very important from an LGA perspective in that it provided more insight into the emerging Asian markets and the opportunities for collaboration it can present for Malta. My aim is to strategically develop stronger collaboration and ties with our Asian counterparts so that all available opportunities are explored and developed". Cuschieri also participated in the annual meeting of the Gaming Regulators European Forum (GREF) held in Dublin, Ireland between 28 and 30 May 2014. Main topics on the agenda included the fourth anti-money laundering directive, national self-exclusion systems, gambling advertising, responsible gambling, match fixing and statistics. Malta will be hosting this forum in 2016. The Lotteries and Gaming Author- ity participated in the first ever 'East meets West' Regulators Summit held between 23 and 25 May in Manila, the Philippines. The event was hosted by the Philippine Gaming Corporation (PAGCOR) and Cagayan Economic Zone Authority (CEZA) and supported by First Cagayan Leisure & Resorts Corporation (FCLRC), the International Association of Gaming Regulators (IAGR) and the International Masters of Gaming Law (IMGL). Ten countries were represented, with regulators and delegations from Australia, Cambodia, Germany, Malta, the Philippines, South Korea and Singapore amongst others. The event was also attended by several high profile service providers and experts involved in the gaming sector. The summit was officially opened by President of IAGR, Lau Peet Meng, followed by a welcome address by PAGCOR chairman and CEO, Cristino L. Naguiat. The discussions and talks, including debates were focused on cross border communication, reciprocity of licence recognition, locals versus foreigners, remote gaming and anti- money laundering amongst other topics relating to the gaming sector. Some of the summit conclusions referred to the need for order in gaming regulation, regional co-operation to provide a framework for uniformity in probity checks, an approach to AML that is tailored to the gaming industry, crime mitigation and the adoption of robust responsible gaming principles. Commenting on this event, Joseph Cuschieri, Executive Chairman of the LGA said: "This event was very important from an LGA perspective in that it provided more insight into the emerging Asian markets and the opportunities for collaboration it can present for Malta. My aim is to strategically develop stronger collaboration and ties with our Asian counterparts so that all available opportunities are explored and developed". Cuschieri also participated in the annual meeting of the Gaming Regulators European Forum (GREF) held in Dublin, Ireland between 28 and 30 May 2014. Main topics on the agenda included the fourth anti- money laundering directive, national self-exclusion systems, gambling advertising, responsible gambling, match fixing and statistics. Malta will be hosting this forum in 2016. Etihad Airways today confirmed that it will forward a letter detailing the conditions precedent and the criteria for a proposed equity investment by Etihad Airways that have been nego- tiated with Alitalia and its stakehold- ers over the past months. The Italian Government appreci- ates the strategic importance of this transaction and looks favourably at the Etihad Airways - Alitalia partner- ship. Upon confirmation by the Board of Alitalia and its stakeholders of their acceptance of these terms, the airlines will proceed to final documentation in order to complete the proposed transaction, in line with EU and other regulatory requirements. President and Chief Executive Officer of Etihad Airways, James Hogan, said, "We are delighted to be able to move forward with this process and look forward to the successful conclusion of the proposed transaction with Alitalia. "An equity investment in Alitalia will be beneficial not only for the both airlines, but, more importantly, it will give more choice and broader travel opportunities to business and leisure travellers into and out of Italy". Gabriele Del Torchio, Chief Executive Officer of Alitalia, said: "This is an excellent outcome for Alitalia. This investment will provide financial stability and confirms Alitalia's key strategic role as an infrastructure player in the travel and tourism industry in Italy for long- term growth". Roberto Colaninno, President of Alitalia, said: "We are delighted to move forward with Etihad Airways providing Alitalia with an ideal strategic partner enhancing the Company's long term growth perspectives".