Malta Today
Sunday Circle
Economic Update

17 JULY 2002
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By Saviour Balzan

Grey clouds hit world stock markets
Reality bites

Search Malta - Gozo and Comino too!


Malta and the new economy

Textile industry still promising despite fierce competition
By Marika Azzopardi
Despite the negative news recently emerging from Malta’s textile industry, government is remaining upbeat on the industry’s prospects and is adamant that, over the short to medium term, the future of the local clothing industry remains reasonably promising despite the fierce international competition. READ MORE >>

Fitch downgrading not to affect BoV’s profitability
In a statement issued yesterday, Bank of Valletta reacted to the downgrading of the Bank’s credit rating by international rating agency Fitch, which had reduced BoV’s long-term outlook from A- stable to A- negative. Fitch had also downgraded BoV’s individual rating from B/C to C. However, the Bank’s short-term outlook had remained unchanged at F2. READ MORE >>

Ray Sladden
Ahead of tomorrow’s opening of subscriptions for the Tumas Investments bond issue, Mario Schembri Wismayer speaks to Ray Sladden, Tumas Group Financial Director

Lawrence Gonzi OPINION
Social development and the Mediterranean
Earlier this month Social Policy Minister Lawrence Gonzi spoke at a sub-regional workshop on ‘Social Development and Social Systems’ organised by the Malta Council for Economic and Social Development and the Istituto per il Mediterraneo. Dr Gonzi contends that working together will multiply the opportunities for growth for all those concerned

Money Market 8-12 July
- another term deposit auction held

Drop in tourism leads to reduced Suncrest turnover
- no interim dividend declared
Citing intense competition within the hotel industry in the wake of depressed tourism resulting from the events of 11 September, Suncrest Hotels, the only tourism oriented company listed on the Malta Stock Exchange, has announced reduced turnover for the fiscal period closing on 30 April
Fear of flying sees reduction in outgoing tourism
- more Maltese opting for cruises
Although more than 10 months have passed since the 11 September attacks, many are still wary of flying to the United States, according to a number of travel agents speaking to The Malta Financial and Business Times yesterday
VFM fund ranked in top 10 European equity funds
The Asian Wall Street Journal last month quoted Lipper, a Reuters company, as ranking the La Valette European Opportunities Fund managed by Valletta Fund Management amongst the top 10 performing European equity funds
EFL students’ housing demands met by increased host family applications
By Mario Schembri Wismayer
The Malta Tourism Authority yesterday confirmed that there is no lack of host families for EFL (English as a foreign language) students in Malta and that, in fact, the rise in students over the years has been met by a rise in applications by Maltese interested in acting as host families


Copyright © Network Publications, Malta.
Editor: Saviour Balzan
The Business Times, Network House, Vjal ir-Rihan San Gwann SGN 07, Malta, Europe
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