Issue link: https://maltatoday.uberflip.com/i/521559
maltatoday, WEDNESDAY, 3 JUNE 2015 17 Events New Malta Stock Exchange Board of Directors holds first meeting THE new Board of Directors had their first board meeting at the Malta Stock Exchange, during which they were given an overview of the significant achievements that have marked the last two years of Exchange operations. During the last financial year, the Exchange registered a record turnover value of €940 million, up by 21% on the previous year, and closed the year at a market capi- talisation value of €10.3 billion – a very significant figure when taking into consideration the size of our economy. There were 14 corporate bond issues with a total value of al- most €300 million, as well as vari- ous issues of government paper – all significantly oversubscribed. The Exchange registered a pre- tax profit of €2.34 million, which was a significant 16% increase on the previous year's profit and which is even more significant when seen in the context of the challenging economic circumstances that pre- vailed. Minister of Finance Edward Sci- cluna took the opportunity to wel- come the new board and to address the staff, outlining his vision of the state of the economy and the criti- cal role that the Exchange plays in the capital market. The Exchange has also launched its refreshed website and its first foray into the social media envi- ronment, with a new LinkedIn and Facebook page. The new website has a greatly improved level of functionality, as well as very user-friendly access to market as well as individual com- pany data and video content. The social media pages will com- plement the website and be used to inform interested parties about what is new at the Exchange, in the capital market environment, as well as to educate the general pub- lic about financial services. Persons interested in connecting to the MSE can log onto their Face- book page and LinkedIn pages for more information. The current financial year is looking very interesting, with trade volumes up on previous year, and a record market capitalisation. New listing of financial instruments has been slower than expected in the first half of this year, but it is ex- pected that the second half of the year should adequately compen- sate for this. In a few words, Joseph Portelli, Chairman of Malta Stock Ex- change recognised the high levels of professionalism, talent and dedi- cation that the leaders and staff of the Exchange clearly have, and augured that together, they would be able to leverage the exceptional talent found at the MSE and on the Board to position the Exchange as the cornerstone of Malta's ever growing financial industry. Winter Moods to celebrate 30 years with special concert at Fort St Elmo WINTER Moods will be holding a special and intimate concert to celebrate their 30-year anniversary. This was announced today during a press conference at Fort St Elmo, Valletta where the concert will be hosted on Saturday 13 June. Winter Moods are renowned for producing some of the most popu- lar songs in Malta. Their memora- ble 2010 concert at the Granaries in Floriana attracted a record-breaking crowd of over 10,000 people. "This time we wanted to do some- thing different," said Ivan Grech, frontman of Winter Moods. "We are going for a smaller venue, to be able to give our audience a more intimate performance. The newly restored Fort St Elmo is the perfect historical backdrop for our concert; it is spectacular. "We promise a special perform- ance which will take us through a journey of 30 years of Winter Moods. We also wanted to make it unique by adding another element to the concert. Every single cent from the ticket sales will be donated to Puttinu Cares," said Ivan. "It has been our dream for a while, we wanted to organize an event for Puttinu, where they receive all the proceeds, not just the profits. Thanks to the partners who have joined us for this event, it will actu- ally happen." Tickets are now available from www.ooii.com.mt at €15 for general standing and at €25 for the inner circle, which also includes a copy of Winter Moods' latest album 'The Journey'. The audience will be lim- ited to 3000 people. "Winter Moods are Malta's top band, and their concerts have al- ways attracted the biggest crowds in terms of local performances. The band has consistently superseded it- self and we are delighted to be part of this special 30th anniversary per- formance," said Rennie Zerafa, of Puttinu Cares. "Puttinu has a special relationship with Ivan and Winter Moods, we have worked very closely together in recent years. Their Xemx/Miss You EP raised thousands of Euros for our projects. We are looking forward to the 13 June for another unforgetta- ble night." Earlier this year Winter Moods re- leased their sixth album, The Jour- ney, which has been hailed as their best work to date by music critics. The album includes hit songs 'Days of my Life', 'Everlasting' and 'Flow- ers and Cash'. The concert is supported by BOV, Coca Cola, Jack Daniels, Hard Rock Café, Renault, BMIT, Nexos Light- ing and Best Team Audio. For more information about Winter Moods log on to www.wintermoods.net. PHOTOGRAPHY BY RENE ROSSINAUD Winter Moods – celebrating their anniversary Finance Minister Edward Scicluna (third from left) with MSE chairman Joseph Portelli (second from left) and members of the board of directors HSBC Trade Forecast shows trade set to accelerate on emerging market rebound ADVANCED economies look set to sustain global commerce through 2016 before an emerging market recovery, and potentially a series of game-changing trade liberalisation agreements, acceler- ates growth back to levels last seen before the financial crisis, the lat- est HSBC Trade Forecast shows. From an average of 1.5 per cent annual growth between 2012 and 2014, world merchandise trade should increase by about 8 per cent a year from 2017, according to the report. Although that's still below the 9 per cent pre-crisis pace of expan- sion, the conclusion of additional World Trade Organisation accords – plus the proposed Trans-Pacific Partnership (TPP), Transatlantic Trade and Investment Partner- ship (TTIP) and Regional Com- prehensive Economic Partnership (RCEP) – could have a significant additional impact. "In the short term an increas- ingly robust US economy, aided by cyclical upturns in Europe and Ja- pan, are likely to provide the great- est cross-border opportunities for businesses," said Simon Cooper, Chief Executive of HSBC Com- mercial Banking. "Further out, demographic trends in emerging markets will undoubtedly fuel greater 'south- south' trade, meaning companies should adopt a diversified strategy spanning both developed and de- veloping markets. "If ratified, the international trade deals currently under ne- gotiation could also have a major catalytic effect - one that's hard to quantify but that should give busi- nesses plenty of reasons for opti- mism." Amongst the 25 economies ana- lysed for the HSBC Trade Fore- cast, trade expansion is expected to be strongest in India and Viet- nam over the medium term. The value of goods exported from these countries may increase by an average of more than 10 per cent a year from 2015 to 2030 as Asian nations, plus other emerging mar- ket economies such as Turkey, Egypt, Mexico and the UAE, drive trade growth. Demand for capital goods, par- ticularly in emerging markets, bodes well for companies that make and trade in machinery and transport equipment. "Our latest economic forecast indicated that Malta will regis- ter one of the highest economic growth rates in the EU this year. Combined with a cyclical recovery in several of our traditional trading partners, this means that Maltese businesses can be confident about our near-term trade prospects. "Through initiatives such as the Malta Trade for Growth Fund, we are focused on connecting our customers to international oppor- tunities, help these businesses to thrive and the economy to pros- per," said Michel Cordina, Head of HSBC Malta Commercial Bank- ing. Jet2.com and Jet2holidays land in Malta BRITISH leisure operator Jet2.com and Jet2holidays yesterday officially launched an array of flights to Malta as it landed at Malta International Airport for the first time. Jet2.com, whose first aircraft ar- rived from Newcastle, will also be operating low fare flights and great value package holidays from East Midlands, Manchester, Leeds Brad- ford and Glasgow airports. The first flight from Newcastle yesterday was welcomed by Malta Tourism Authority Chairman Gavin Gulia and Malta International Air- port CEO Alan Borg. British holidaymakers on board were welcomed with flowers before being invited to a cake-cutting cer- emony. "Summer has already started in Malta, so it's the perfect timing to be welcoming a new airline that can of- fer the British market more choice," said MIA CEO Alan Borg. "The addition of Jet2.com and Jet2holidays summer programme enhances Malta's offering to its big- gest tourism market, the United Kingdom. We look forward to wel- coming many new passengers this year." Steve Heapy, Chief Executive of Jet2.com and Jet2holidays said: "We're delighted to bring our low fares, trustworthy package holi- days and famous friendly service to Malta. "As the UK's third largest tour op- erator, this summer is set to be our biggest yet. And as our first flights arrive in Malta, we're already launch- ing our Summer 2016 programme and look forward to growing our product in Malta and Gozo." Tourism Minister Edward Zam- mit Lewis said, "Government views air-route development as a pillar of growth in tourism and we wel- come Jet2.com's network of flights to Malta as it is clearly aligned with this objective. I am confident of a successful and sustained relation- ship between Malta and Jet2.com and look forward towards welcom- ing more British tourists to our is- lands." "The advent of Jet2.com not only continues to increase opportunities for Maltese tourism but also con- tinues to diversify the range of air service providers linking Malta with the outside world. Jet2.com will fur- ther strengthen Malta's prospects in a number of regional airport catch- ment areas thereby making Malta and Gozo more accessible to greater numbers of potential British visitors over the coming years," said MTA CEO Paul Bugeja. Jet2.com first landed in Malta on Thursday May 21 2015 and be- comes the third airline marking its inaugural flights this year. Jet2.com and Jet2holidays flights and pack- age holidays will be operated weekly from Newcastle (Thursday), East Midlands (Friday), Leeds Bradford (Saturday) and Glasgow (Tuesday) and bi-weekly on Mondays and Fri- days from Manchester. YOUR FIRST CLICK OF THE DAY www.maltatoday.com.mt