Issue link: https://maltatoday.uberflip.com/i/444527
maltatoday, SUNDAY, 11 JANUARY 2015 9 News The chosen candidate will undertake day to day accounting activities, such as the preparation of accounts up to Trial Balance, the raising of invoices and processing of payment remittances, reconciliation of bank accounts, data inputting, credit and debt control and the preparation of payroll and VAT returns. The successful candidate will preferably hold an AAT, an A level qualification in Accounts, or be in the early stages of ACCA or equivalent. Prior experience in an accounting role and familiarity with a Sage environment will be considered an asset. Besides being meticulous and conscientious, the successful candidate should demonstrate an ability to prioritize tasks and work under pressure. The successful applicant will work in Gozo. About the company Our company has long been established in the ceramic tile and sanitary ware business and has in recent years set up a subsidiary for the manufacturing of cement blocks and the processing of marble and Gozo hardstone. The company is based in Gozo with a showroom in Guardamangia. www.afellis.com.mt. Applicants are requested to apply by 16 January 2015 in writing, enclosing a c.v., to : The Managing Director, A.F.Ellis (Home Decor) Ltd., 16 Għajn Qatet Street, Victoria, Gozo VCT 2101. or by e-mail mail@afellis.com.mt Accounts ExEcutivE (based in Gozo) 160 square metre restaurants on land reclaimed from the sea on the Gzira seafront. It also includes showers and changing rooms. The structures will have a maximum height of 4.8 metres. A play area and an exhibition hall will be open to the public. The private swimming pool will serve as an amenity for the Bay View, Kennedy Nova, the Strand and Waterfront Hotels. A study by Transport Malta con- cluded that as a result of the project the time allowed for green traffic lights should be extended from 15 to 21 seconds. The project will require 14 new parking spaces for employees and 32 new spaces for restaurant pa- trons. None of these parking spaces are catered for in the project. The case officer report concludes that the project will result in a shortfall of 14 parking spaces in an area which is already suffering from parking space shortage. But Transport Malta did not ob- ject to the project in a letter sent to MEPA in January last year. The stony coral growing along the site will be relocated to another area in Sliema. Initially the Planning Directorate had expressed concern on the size of the two restaurants in view of the fact that the hotels in the area all have bars and restaurants. But now the Planning Directo- rate is calling on the MEPA board to approve the project, noting that the design of the two triangular res- taurants has been improved to re- spect "the openness of the existing promenade and protecting views of Valletta". The restaurants are being justified as a way to ensure that the project is economically feasible. The project, which will provide facilities for a number of Sliema hotels, has been proposed by entre- preneur Michael Stivala, secretary general of the Malta Developers As- sociation. Photomontage presented in 2013 before design of restaurants was changed and passageway along foreshore introduced Standard & Poor's reaffirms BBB+ rating for Malta, sees stable outlook MIRIAM DALLI STANDARD & Poor's credit rat- ing agency is projecting a two per cent annual expansion of the Maltese economy over the next four years. Reaffirming its long- and short-term foreign and local currency sovereign credit ratings for Malta at 'BBB+/A-2' it saw a stable outlook and said Mal- ta's economic growth prospects re- main strong relative to the Eurozone, while Malta's domestic banks were considered to be well-capitalised. However, the rating agency viewed the government's debt burden as a constraint on policy flexibility, con- sidered the loan loss provisioning levels as low and noted that the gov- ernment's high debt burden and con- tingent liabilities were declining. The ratings were supported by S&P's view of Malta's fairly strong in- stitutions, its resilient economy, and the credit rating agency's expectation of further fiscal consolidation. A sizable government debt burden and contingent liabilities constrained the ratings. On the other hand, S&P's could raise its ratings if the government's reform programme boosts growth and reduces the government debt burden or contingent liabilities more quickly than the agency currently ex- pected, without a return to significant current account deficits. "We estimate that the Maltese economy grew by about 3% in 2014, and we project that it will expand by just over 2% annually on average dur- ing the next four years. "We believe Malta will continue to grow more quickly than the eurozone as a whole, notably thanks to invest- ments in the energy sector." These investments include the lay- ing of an interconnector cable to Sic- ily in 2014 and the building of a new liquefied natural gas plant in 2015- 2016. The government sold a 33% stake in Enemalta Corporation, the main domestic provider of energy genera- tion and distribution, and a major- ity shareholding in the BWSC power plant to Shanghai Electric for a total of €250 million. In addition, Shanghai Electric plans to invest €70 million to convert the BWSC power plant to gas from June 2016. These investments alongside government mandated cuts to util- ity tariffs are boosting domestic de- mand. Last year, electricity prices for households were lowered by 25%; electricity charges for companies will be cut by the same percentage in March 2015. "Lastly, rising real wages and broader female participation in the labour market have increased household disposable income," S&P said. The credit rating agency esti- mated 2014 general government debt net of liquid assets at 62% of GDP, with a decline to 60% of GDP by 2018 mainly owing to rising output. "We estimate general government gross debt at 71% of GDP in 2014. We estimate the 2014 general govern- ment deficit at 2.1% of GDP, versus 2.7% in 2013, reflecting higher tax re- ceipts and supportive nominal GDP growth. We forecast that general government accounts will improve slowly through 2018, primarily ow- ing to GDP growth. We project that spending will be at about 43% of GDP on average over our forecast horizon, higher than the 2008 peak at 42.6% of GDP."