10 years ago - The Times
Thursday, November 1, 2008
BoV profits down 60 per cent
Bank of Valletta is licking the wounds inflicted by the global financial crisis, which has eaten away almost €54 million of its earnings, dropping the bank’s pre-tax profits by 60 per cent to €40.6 million.
Still, chairman Roderick Chalmers said the results were disappointing but respectable and the effect of the crisis would have been worse had the bank not taken corrective measures over the past four years by being a “conservative bank”.
Despite the precautions, the bank did not escape the crisis unscathed. The negative results, Mr Chalmers said, are the result of the Lehman Brothers collapse that cost the bank €12.7 million (a figure revealed for the first time yesterday) and the re-evaluation of the company’s investments as a result of the falling prices on the international markets.
When the company announced that it had been exposed to the crash of the banking giant in September, it refused to give a precise figure but said that the impact would be “modest”.
When questioned about this yesterday, Mr Chalmers defended the bank, saying it was one of the very first banks to say it was exposed to the Lehman bankruptcy around the world.
25 years ago - The Times
Monday, November 1, 1993
MLP’s stand over cost of living under fire
The government plans to publish a White Paper on the institutional and constitutional changes required to place the existing commissions against injustices and against corruption on a permanent basis.
Nationalist Party leader Eddie Fenech Adami said at the closing of the PN general council meeting in Pietà yesterday that the White Paper, to be published in a few weeks’ time, would seek to make these institutions more efficacious, efficient and acceptable to all.
“We want these commissions to be a permanent achievement for our country, Dr Fenech Adami told the councillors.
Only yesterday, Opposition leader Alfred Sant reaffirmed his stand of no-confidence in the Commission Against Corruption which he accuses of being partisan.
Finance Minister John Dalli lashed out at the MLP over its stand over the cost of living, strongly criticising a ĠEM report. Dr Fenech Adami said that when the PN was returned to office in 1987, it had been evident that these commissions had become a necessity for Malta.
The White Paper will identify the necessary changes that need to be made to these and other institutions and to the Constitution so they may be made permanent, he said.
Half a century ago Times of Malta
Friday, November 1, 1968
Fifty Allied warships in ‘Exercise Eden Apple’
Headquarters Allied Naval Forces Southern Europe in Malta and Headquarters Allied Forces Southern Europe in Naples, Italy, yesterday jointly announced the holding of ‘Exercise Eden Apple’ from November 5 in the Central Mediterranean.
Described officially as “a routine Nato maritime exercise”, it involves 50 warships of five nations. Both in the number of warships taking part and in the aims of the exercise itself, ‘Eden Apple’ may well be one of the most ambitious naval/air exercises held in the Mediterranean since the Russian naval build-up reached substantial proportions after the Arab-Israeli war of June, 1967.
Retires after 23 years’ service
Mr Edward Mizzi, 60, of Msida, has been presented with a clock on his retirement as driver with the SNSO Transport Department at Corradino Hill, Paola.
Mr Mizzi has served with the Royal Navy as a driver for 23 years. Last year he was awarded a medal for safe driving.
During the war, Mr Mizzi served in the Army for five years.