Issue link: https://maltatoday.uberflip.com/i/661117
maltatoday, SUNDAY, 3 APRIL 2016 News Over 40 arrested in separate drug busts OVER 40 persons have been held by the police in connection with drug busts they carried out. All individuals are of foreign nation- ality. In a statement, the police ex- plained that in the first investi- gation between March 29 and 30, the customs law enforcement section arrested three persons found to be in possession of ec- stasy and substances suspected to be cocaine and ketamine. The amounts found suggest that they were not strictly for personal use. Two of them have been ar- raigned in court and sentenced to four years imprisonment as well as a fine. They pleaded guilty. On the night between March 31 and April 1, the anti-drug squad assisted by the Qawra district police, arrested 23 persons. They were found in possession of sub- stances suspected to be ecstasy and cocaine. Some of them have already been arraigned in court on charges of aggravated posses- sion and trafficking. On 1 April, 15 other foreign na- tionals were arrested in Rabat for drug possession. Police investigations are un- derway and more persons will be arraigned in court. Head-on collision leaves three injured, one critical A magisterial inquiry is underway after a head- on crash in St Julian's left a young man in a critical condition yesterday. A Renault Megane driven by a 19-year-old from Mo- sta, carrying a 17-year-old girl from Sta Venera as a passenger, was involved in a collision with a Ford Ku- ga, driven by a 29-year-old from St Paul's Bay in St Andrew's Road at around 12.30am. Three people were taken to hos- pital and one was found to be in a critical condition as a result of the accident the police said. The two teenagers suffered grievous injuries, while the man was critically injured, the police said. The 29-year-old suffered slight injuries. Duty Magistrate Donatella Frendo Dimech is conducting an inquiry. DBRS confirms Malta 'A' rating DBRS Ratings confirmed Malta's long-term ratings at A, citing continued pro- gress on fiscal consolida- tion and meaningful re- ductions in public debt. DBRS said the govern- ment meets its financing requirements domesti- cally, and that domestic banks were conservatively funded by domestic retail deposits. It said Maltese house- holds enjoy high levels of savings and held net finan- cial assets of some 200% of GDP. "Prudent lending practices prevented Malta from building up the fi- nancial imbalances that have aff licted other Eu- rozone countries. Private consumption growth is consequently quite resil- ient and overall economic performance has been strong." DBRS said some of Mal- ta's credit challenges are associated with the expo- sure of its public sector and the still high level of public debt. The restructuring of some of state owned en- terprises has however re- duced risks to the public sector balance sheet. Nevertheless, the public sector remains vulnerable to debt shocks. Although public debt has started to decline, it remains moder- ately high at an estimated 64.6% of GDP in 2015. DBRS also said that vari- ous ongoing investigations and court proceedings were "indicative of the need for further govern- ance improvements, but also of the government's commitment to address past shortcomings. The overall direction of policy is likely to provide stability to Malta's sovereign rat- ings."