Issue link: https://maltatoday.uberflip.com/i/480415
maltatoday, WEDNESDAY, 18 MARCH 2015 2 News Two Virtù Ferries tickets to be won with our photo competition! Two Virtù Ferries tickets to be won with our photo competition! This weeks winner is Simon Attard with his photograph, Shwedagon, Buddhists' holiest temple found in Yangon, Myanmar (formerly Burma) . A kit of pigeons fly away as worshipers exit the golden temple. Photo shot in December 2014 WILL YOU BE OUR NEXT WINNER? This week's theme: Travel SEND US PHOTOS FROM YOUR FAVOURITE HOLIDAY MaltaToday and Virtù Ferries have teamed up to take one lucky winner and a companion every week to Sicily, with two tickets to be won every week in our photography competition. Already been on holiday? Good: we're sending you back if your best photograph from your holidays and travels makes the cut. That's right: send us a good quality image of your holidays and we'll send the best one to the gateway of Italy with Virtù Ferries. Themes may change from one week to the other Malta - Sicily Express Ferries For more information visit www.virtuferries.com or contact by telephone 23491000 RULES OF THE COMPETITION Photos should be a hi-res image (one per individual entry) with a sentence or two about what inspired you to take your photo. Entrants are kindly reminded not to send in personal family pictures that might be unrelated to theme subjects unless expressly requested. Send the photo via email on info@mediatoday.com.mt [SUBJECT HEADING: MaltaToday photo competition] by next Friday at 9am. If sending a photo by post, address it to: 'MaltaToday photo competition', Mediatoday, Vjal ir-Rihan, San Gwann, SGN9016 Please supply your daytime telephone number, your name, your home address and an email address. maltatoday Conditions apply: 1. Tickets for each week's competition can only be won by one person who submits one entry of a high-res image with description. Entrants with more than one entry WILL NOT be considered. Entrants must send a description of photo. WILL NOT be considered. Entrants must send a description of photo. 2. Winners will be informed before the end of the week, and then announced on maltatoday.com.mt and MaltaToday on Sunday. 3. By entering this offer, entrants consent to their photos being published and owned by Mediatoday Co Ltd. 4. The entrant with the best photograph will be awarded two (2) return tickets, valid for travel to any Virtù Ferries destination. Mediatoday's decision is final. 5. Tickets are issued free of charge, excluding port charges, and in accordance with Virtù Ferries' rules and regulations. All taxes and charges are to be paid accordingly by the winning entrant upon the issuance of tickets. 6. This offer is closed to employees and contributors of Mediatoday Co. Ltd and Virtù Ferries, or their family members. Ferries, or their family members. Ferries, or their family members. MFSA chairman denies knowledge of HSBC bank account for Kairos MATTHEW VELLA THE chairman of the Malta Finan- cial Services Authority, Prof. Joseph Bannister, has denied any knowl- edge of an HSBC bank account held in Geneva for Kairos Investment Management, reportedly holding €600 million in cash. Bannister is a director of Kairos Fund, a related company to Kairos Investment Management, which he says closed "some time ago". "The Kairos Fund was constituted separately from Kairos Investment Management and in line with inter- national market practices utilised the services of prime brokers to handle clients' money. Subscriptions and redemptions were handled by the fund administrators. Both the prime broker and the fund admin- istrator normally hold accounts in various banks," Bannister told Mal- taToday. "As Kairos Fund director, I had no knowledge of an HSBC Bank account and I had no directorships with Kairos Investment Manage- ment." It was already made pub- lic that Bannister had been a non-executive director of Kairos Fund, when the MF- SA chairman had to deny claims of favouring a co- director's company for con- sultancies worth €463,000 with the MFSA. Bannister was director of the um- brella collective investment fund since 2005, together with Ray Buge- ja. Bugeja's name appeared in a cli- ents' list of HSBC Privée Geneva leaked to the International Consor- tium of Investigative Journalists, in connection with a number of hedge funds domiciled in the Bahamas and the Cayman Islands. It reports that Bugeja oversaw both hedge funds during his time as director and chief financial officer of investment man- agement company Kairos. Bugeja was a co-founder of Kairos and served as its director until April 2010. He was the Chief Financial Officer and Chief Operating Officer at Kairos Investment Man- agement Limited and Chief Financial Officer at Kairos Partners Italia Srl. He has denied any further links with the company ever since returning to Malta in 2010 and said he never held a Swiss bank account. Kairos was set up in 1999 in Milan, where Bugeja obtained his Italian citizenship. "Many hedge fund compa- nies in the UK, regulated by the FCA, have funds in the Cayman Islands. Italy, Luxembourg and Lugano. There is nothing wrong with that. That is how hedge funds operate," Bugeja was quoted as say- ing. "I am in Malta, paying the taxes I am due to pay in Malta. I have nev- er had to call on any amnesty, and I have never had a need to. I have nothing to hide." Bugeja, also a candidate for the 2014 EP elections, headed a commission that reviewed the Nationalist Party's finances and commercial entities. Nationalist Party leader Simon Bu- suttil has confirmed that his party will speak with former PN leadership contender Ray Bugeja over reports linking him with a €600 million ac- count listed in the Swiss leaks files. "The PN will speak to Ray Bugeja to find out whether there's anything more to the issue than what the Mal- ta Independent reported," Busuttil told MaltaToday. "However, he wasn't a politician 10 years ago. The amount of money in question was linked to him in that he was the leader of a financial com- pany whose job is to manage people's money. One cannot compare Bugeja's case with that of former ministers Ninu Zammit and Michael Falzon, and I see no reason why the party should suspend him." AN innocent bystander became the unwitting victim of a traffic accident yesterday when he was hit by a car after it collided with another. At 7.45am, a Suzuki Baleno driven by a 37-year- old Gzira man crashed into a Peugeot 405, driven by a Pieta woman, 53, at a crossroads in Msida. On impact, the Suzuki car mounted the pave- ment where the Dutch man was standing at the time and hit him. He was taken to hospital. His condition is not known. The two drivers suffered no injuries. Prof. Joseph Bannister Dutch man injured on being hit by a car in Msida