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MT 12 October 2014

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maltatoday FIMBank p.l.c. is a licensed credit institution regulated by the Malta Financial Services Authority and listed on the Malta Stock Exchange. The Bank is a participant in the Depositor Compensation Scheme in Malta. Terms and conditions apply. 2132 2102 2132 2102 2132 2102 No Hidden Fees or Bank Charges Individual or Joint Account Option Easy, Flexible and Secure Visit our website, open your online bank account and start beneting from superior interest rates on your savings and xed term deposit accounts. US Dollar Fixed Term Deposit 3 month: 0.90% 6 month: 1.50% 9 month: 1.75% 1 year: 2.25% 2 year: 2.65% 3 year: 2.85% 3 month: 2.20% 6 month: 2.30% 9 month: 2.40% 1 year: 2.50% 2 year: 2.85% 3 year: 3.00% Euro Fixed Term Deposit Minimum Deposit €1,000 Minimum Deposit $1,000 Rates of interest are on a gross per annum basis Rates of interest are on a gross per annum basis Euro Savings Account Minimum Deposit €50 US Dollar Savings Account Minimum Deposit $50 1.75 % 0.50 % Newspaper post MIRIAM DALLI A delay in the construction of the new power plant – originally scheduled for March 2015 – is due to the reopening of negotiations between power plant suppliers Electrogas, and new Enemalta shareholders Shanghai Electric Power (SEP). Insiders have told MaltaToday that the agreement with the Electrogas consortium had to be revised when SEP acquired a 33% stake in Enemalta plc in March 2014, and became the owners of the Delimara power station extension. Yesterday, energy minister Konrad Mizzi also con- firmed with this newspaper that the construction of the new gas-fired power station in Delimara would not be completed by March 2015. But he said that the energy tariff reductions for busi- nesses would come into force as pledged. News of the delay is set to turn into a new headache for Prime Minister Joseph Muscat, who had publicly claimed he would resign if his government does not de- liver the power station within the timeframes it had set for itself. On 11 April, 2013, Enemalta issued an Expression of Interest and Capability (EoIC) for a power purchase and gas supply agreement, binding candidates to build and operate a new LNG plant by 31 March, 2015. Shortly after Electrogas was chosen to build the new plant, Chinese company Shanghai Electric Power pur- chased the 'BWSC plant' for €300 million. CONTINUES PAGES 4-5 CONTINUES PAGE 3 YOUR FIRST READ AND FIRST CLICK OF THE DAY WWW.MALTATODAY.COM.MT 60% AGREED WITH HUNTING BAN... BUT 39% OF LABOUR VOTERS DISAGREED • FULL SURVEY PGS 10-11 GOURMANDS ON THE TUBE Gravina • Delia • Mattei • Diacono bringing Gourmet Today's great food ideas and recipes to life SUNDAY • 12 OCTOBER 2014 • ISSUE 779 • PUBLISHED EVERY WEDNESDAY AND SUNDAY €1.20 On TVM every Friday at 6:50pm and all our recipes on www. gourmettoday. recipes FREE WITH MALTATODAY! YOUR FIRST READ AND FIRST CLICK OF THE DAY YOUR FIRST READ AND FIRST CLICK OF THE DAY YOUR FIRST READ AND FIRST CLICK OF THE DAY YOUR FIRST READ AND FIRST CLICK OF THE DAY Extent of business debts revealed • No police investigation launched into disappearance of man who allegedly owes €40 million to loan sharks MILLIONS SCHEMBRI BORROWED TO SAVE LIBYAN SUPERMARKET Labour will miss March 2015 deadline - minister Businesses to get tariff cuts despite delay in LNG plant mt survey MATTHEW VELLA NO police investigation was formal- ly launched into the debts allegedly incurred by Ryan Schembri, 36, a supermarket director and meat im- porter who is said to have amassed €40 million in debt to businessmen and loan sharks, forcing him to ab- scond from the island with his wife Angie and a young son. A senior police source yesterday told MaltaToday that Schembri, of Mellieha, had no prior criminal con- victions and that no Interpol alert had been issued after the man was reported to have left the island on the night between 20 and 21 September. But it transpires that no reports were filed with the police over the debts owed by Schembri. "No police report gets lodged over illicit loans, that's for sure. But then even if Schembri defaulted on his legitimate business debts and bank loans, that's not even a police matter. If anything it would be his hypothe- cated assets that would suffer," the police source told MaltaToday. Konrad Mizzi: gas-fi red power station will not be completed by March next year

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