Issue link: https://maltatoday.uberflip.com/i/492208
maltatoday, WEDNESDAY, 8 APRIL 2015 11 Business Today Institute of fi nancial services (ifs- Malta) honoured its graduates of 2014 during a ceremony where the awardees heard that by investing in new skills they have opened doors to professional fulfi lment. More than 200 graduates of various courses attended the ceremony as ifs-Malta President Simon Grech commended their achievements amidst a fast changing landscape of the financial services industry. "The crisis of a few years ago, which one may even say is still ongoing, considering for example, the present turmoil in the Eurozone arising from the Greek financial and economic problems, is keeping regulators and practitioners like you very much on their toes," said Mr Grech. ifs-Malta offers a number of nationally- and internationally- recognised training courses in a wide range of distinct areas. For prospective candidates, these could be short term courses in fund administration, credit control, and risk management to the more traditional Diploma in Financial Services, a Foundation Degree programme and two Post Graduate programmes. One can also pursue a Chartered Banker MBA or a Chartered Wealth Management qualification. In select categories, top graduates were also recognised by banks such as HSBC Malta, BOV, Lombard Malta, APS, and Banif Malta. "For the coming years, the Institute is putting together a strategic plan aimed at ensuring that we remain at the forefront in our mission of providing quality education to financial services practitioners," asserted Grech. www.creditinfo.com.mt info@creditinfo.com.mt Tel: 2131 2344 Your Local Partner for Credit Risk Management Solutions Supporting you all the way ifs-Malta celebrates graduating class of 2014 'Don't fear high-rise', says man behind €120 million Metropolis tower Miriam Dalli A €120-million Metropolis project in Gzira will be completed in three years' time, Libyan entrepreneur Jalal Husni Bey said. The foundation stone of the Metropolis Plaza was laid on Monday evening by Prime Minister Joseph Muscat, Bey and construction magnate Charles Polidano. Covering 85,000m2 and towering over a public square, Metropolis Plaza includes a helipad and three towers made of steel reaching 13, 27 and 33 floors respectively. Some 10,000m2 of space will be available for commercial use. The project will also feature restaurants, luxury apartments, a supermarket and a range of shops, and health, fitness and leisure facilities together with an underlying car park. Polidano was entrusted with the initial construction phase; an Italian company will construct the first tower while the tallest tower will be developed by a Dubai-based company which has built the largest towers in Dubai. No names have been divulged so far. An original project for the Testaferrata site envisaged the development of "a lifestyle building with all apartments having their own view and large terraces". The project, which goes back to 2007, first fell through when the original investors failed to obtain enough finances for their project. Bey, the younger brother of Husni Husni Bey – the chief executive of Libya's prolific HB Group – took over when the project failed to get off the ground. "We originally came in to buy some apartments but saw an opportunity when the original investors couldn't get the necessary bank support," he said. Bey set to re-do the whole project as, in his own words, the original product was not satisfactory: "It was a cheap housing building which would not have delivered. Needless to say, we had to start everything from scratch… including when dealing with the Planning Authority." Confident that the revamped project will lead the market, Husni Bey said Metropolis required "a positive and creative vision, at the right time". "Today is the right time because commodity prices are at their lowest while confidence in economic growth across Europe is on the rise. This is exactly the right time to build… and the wrong time to sell," he told MaltaToday. According to Bey, Malta misses the link which quality investors need to set up base in Malta: luxury spaces from where to operate. "106 mega yachts enter Malta's harbours every year and the owners are not even on board. The island is magnificent and yet they are not visiting the island. Something is missing and it is not the weather, or a language barrier or a skilled workforce. What can you give these wealthy investors? Malta has a fantastic tax regime and a lifestyle which is at par with other countries; it is an hour away from Europe. So what's stopping investors from owning, living and operating from Malta?" Bey's Metropolis Plaza has two other sister projects in Libya, currently on hold because of the instability. Thanking the Maltese for the compassion and support shown during the Libyan upheaval, Bey said Malta was like a second home to him: "We are serious partners and believe in the future of Malta and in what it can deliver." A high-rise building, the Metropolis Plaza didn't come without its fair share of criticism by environment lobbies and how it would impact long distance views. Aware of this, Bey appealed for "support" for his project: "High rise projects usually scare a lot of people because they would not be used to it. However, we have to recognise that they are a must and every country should have a designated area for high rise buildings." He had words of praise for Joseph Muscat and those "calling the shots who have been very helpful". Describing dealing with MEPA "very painful", Bey went on to propose a one-stop shop for such large projects. MHRA predicts another record-breaking year for tourism sector The Malta Hotels and Restau- rants Association (MHRA) is confident that this year the tour- ism sector will maintain the growth trend achieved over the past years and forecasts that 2015 will be yet another record year on various fronts of the equation. Significantly this year a spread into the shoulder and winter months of tourism flows is being experienced as a result of efforts to address the seasonality challenge. Tony Zahra, MHRA president states that, "Following the success in developing a successful core season for the tourism sector, MHRA is pleased to note that efforts to address the seasonality factor are also reaping positive results." MHRA has consistently advocated the importance of organising events throughout the whole year to enhance the experience of the visitor and also to develop new markets, hence creating a more versatile type of tourist. The festival hosted by DJ Annie Mac and organised over the past weekend clearly demonstrated that such events generate a positive boost to the tourism sector specifically in the entertainment, hospitality and catering segment during the quiet shoulder months. The economic boost generated as a result was also felt by other business. This was achieved thanks to working collaboration between the private sector stakeholders with the support of the MTA, ministry and other parties. The MHRA called upon the authorities to pursue the strategy to further incentivise the organisation of similar entertainment events and others related to sport and culture spread throughout the year while improving on the management of overall logistics to ensure better security, less disruption in the neighbourhood of such events and a quality approach to ensure sustainable tourism growth across the country. ifs-Malta 2014 graduates Tony Zahra The Prime Minister at the foundation stone laying on Monday with (right) Jalal Husni Bey