9 JANUARY 2002
ISSUE NO. 218
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Editorial


The first bangs of the year
 


Search Malta - Gozo and Comino too!





No EU connection for sympathy strikes proposal
By Kurt Sansone
The proposal by government to outlaw sympathy strikes, as outlined in the white paper amending the Industrial Relations Act has nothing to do with EU legislation and more to do with government’s way of forging out a future for industrial relations

Farsons secures 7UP
Simonds Farsons Cisk yesterday announced it has been appointed by PepsiCo International Limited as the exclusive franchisee to produce, bottle, sell and distribute 7UP and Diet 7UP in Malta and Gozo. The agreement was effective as of yesterday

Fund repatriation scheme active for over a month
Maltese banks and financial intermediaries are undoubtedly looking for the ways and means of capitalising on the new investment repatriation schemes, as an unknown yet potentially large number of Maltese take the leap by repatriating funds from accounts in British and Channel Island banks. However, only a handful appear to have announced concrete local re-investment schemes

Maltese grain carrier sues Australian Port Authority for crash
The Maltese operator of a giant grain carrier that crashed into an Australian jetty, causing AUD2.5 million (Lm585,000) damage, is suing the South Australian Ports Corporation for its involvement in the incident. The action is due to be heard in the Australian Supreme Court later this month

MORE NEWS

VAT lottery reaches stability point
Globe/British American merger still subject to due diligence
Galdes denies clash with Dalli
New supermarket opening in St Venera
Dragonara Casino owners take over major French casino group
Alterra confirms Lm60.5 million MIA investment
Labour plans for Elections

OPINION

Europe and the free movement of capital
Richard Cachia Caruana, Chairman of the Core Negotiating Group, recently addressed the Tenth Meeting of the Accession Conference in Brussels. Mr Cachia Caruana highlights the provisional closure of chapter four – that related to the free movement of capital. Following are extracts from his address


Correction
The Malta Financial and Business Times wishes to correct an error to the detriment of PriceWaterhouseCoopers in last week’s edition (2 January). In an article titled ‘Victor Zammit and the Price Club fiasco’ it was erroneously stated that "…more creditors filed cases against the Price Club and even PriceWaterhouseCoopers." It should be noted that Price Club creditor Valle del Miele had filed a judicial protest against Price Club’s previous accountants, Deloitte and Touche, asserting that Deloitte and Touche had presented an overly-optimistic image of the company – indicating a turnover exceeding Lm 21 million per year. The Price Club had engaged PriceWaterhouseCoopers after the incident.

 

 

The Business Times, Network House, Vjal ir-Rihan San Gwann SGN 07 Tel: (356) 382741-3, 382745-6 | Fax: (356) 385075
Editor: Saviour Balzan
e-mail: editorial@networkpublications.com.mt