Issue link: https://maltatoday.uberflip.com/i/495652
maltatoday, WEDNESDAY, 15 APRIL 2015 11 Business Today www.creditinfo.com.mt info@creditinfo.com.mt Tel: 2131 2344 Your Local Partner for Credit Risk Management Solutions Supporting you all the way YOUR FIRST CLICK OF THE DAY www.maltatoday.com.mt Most salaries in four star hotels 15% lower than five star Most salaries paid in the four star ho- tel category are currently on average 15% lower than those paid for the same positions in fi ve star hotels. More specifically, an average 12% difference exists in salaries for operational staff, an 8% difference for supervisory staff and a staggering 20% difference for those in top and middle management. This is one of the more salient points that comes out from MISCO's first edition of its Salaries & Benefits Report for the four star hospitality sector. The above comparisons have been possible thanks to a similar report that MISCO published last December for the five star industry. The MISCO Salaries & Benefits Report for the four star Hospitality Sector 2015 is another first by MISCO for the sector and stands as a reliable source for all those who need an overview of the financial packages and remuneration structures adopted by four star hotels in Malta. "This latest report for four star hotels covers a total of 38 positions which include management, executive, clerical, sales and marketing, chefs, bartenders, waiters and housekeeping staff," Sophie Terpougoff from MISCO said. "This edition covering most of Malta's four star hotels was a natural development following the successful feedback and the encouraging requests for the first report on five star hotels. Four star hotels represent the biggest chunk of tourist accommodation in Malta and as such we are anticipating good interest for this report. "At MISCO we are also delighted that through these reports we are contributing towards a better understanding of such an important pillar in our economy. Only when we increase the understanding can we look at increasing the already high standards our country offers," Terpougoff said. This latest report has been published under the MISCO's Salaries & Benefits Report brand. Later this year, MISCO will be issuing its 30th edition of the MISCO Salaries & Benefits Report 2015/16. The latest full edition, the 29th, was published last September and carries an in-depth analysis of the most recent trends across 7,000 remuneration packages available in Malta. It is the most sought after tool of its kind due to the comprehensive and well researched data it contains. MISCO will also shortly be issuing the MISCO Salaries & Benefits Report for the Financial Services Sector 2015, which will include data for over 35 positions. The Salaries & Benefits Report for the four star Hospitality Sector may be purchased from MISCO on 22054 603/651 or via email on advisory@ miscomalta.com Deloitte supports staff for the El Camino initiative Deloitte Malta will this year be support- ing Emmanuel Camilleri, a member of staff from the Tax Services department, on the 'El Camino' initiative. The initia- tive will be in the form of a sponsored walk, whose aim will be to collect money for the Malta Community Chest Fund. The initiative was launched by President Marie-Louise Coleiro. Participants are required to collect a minimum amount of money prior to commencing the trip. During the walk, a group of Maltese hikers will be trekking across areas of Spain, France and Portugal while raising funds for the Community Chest Fund. The journey is made up of three walks, each with different starting points and varying distances, which will all lead to Santiago de Compostela in Spain, on 28 May. Deloitte will be aiding this initiative by sponsoring Emmanuel Camilleri who, together with his girlfriend, has chosen to participate in this initiative to assist in collecting money for those in need. Lisa Dimbleby, marketing manager at Deloitte Malta, presented a cheque to Emmanuel Camilleri at the Deloitte offices in Mriehel. Deloitte encourages such initiatives by members of staff and offers support to those working for a worthy cause. The Malta Community Chest Fund helps philanthropic institutions and, more importantly, individuals with diverse needs. The fund relies on donations from corporate companies and the public in the raising of funds. Bank of Valletta gives university students the opportunity to trade in a virtual environment A group of 45 students reading for a degree in banking and fi nance at the University of Malta participated in a virtual portfolio game, where they could leverage everything they learned in the course of their studies in a bid to outperform their fellow participants. Over the course of a year, Bank of Valletta gave these students, who were split into three teams, access to a simulated trading platform, based on real instruments traded on the Stock Exchange's equity market. Every team managed a virtual portfolio on a virtual stock market. The winners were presented with their awards during a conference entitled 'Recent Developments in Banking and Finance' that was hosted at the old university campus in Valletta. Cash prizes were presented to the members of the winning team and two runner-ups by Kenneth Farrugia, Chief Business Development Officer at Bank of Valletta. "This innovative competition was launched in 2006, as a collaborative effort between the Department of Banking and Finance at the University of Malta and Bank of Valletta. Since then, it has remained a success story, offering students a unique opportunity to provide first-hand trading experience," explained Farrugia. In his intervention, he also said that "at Bank of Valletta, we are strong believers and promoters of holistic education. In this respect, the bank is giving its support to various other initiatives, including the 'Read with Me' campaign that seeks to assist parents of very young children to instill the habit of reading at a very young age, in a bid to counteract illiteracy." Addressing the students, Prof. Joseph Falzon, Dean of the Faculty of Economics, Management and Accountancy and head of the Department of Banking and Finance from the university said: "The virtual trading platforms offer students the most realistic simulations. Students benefit from real-time streaming platforms that feature global equities, bonds and more." The winning team, aptly called 'Winner Group', was composed of Charlene Borg, Noelle Cauchi, Carl Cutajar and Neil Baldacchino. Noelle Cauchi and Luke Catania were also presented with the First Class Students Award. Lisa Dimbleby presented a cheque to Emmanuel Camilleri for the 'El Camino' initiative Kenneth Farrugia presented prizes to the winning team of a virtual portfolio game