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USA UK and Malta News
04/07/2012 - 19:54

Malta news: Shares in City Gate

Malta news: Shares in City Gate - Man on trial for third murder: Mangion made ‘serial killer’ joke about his tattoos - Shares in City Gate project on offer from Monday week - Tourism policy based on authenticity, sustainability - Minister.

Malta news: Shares in City Gate
Man on trial for third murder: Mangion made ‘serial killer’ joke about his tattoos
Silvio Mangion – a convicted serial killer – knew exactly what he was doing at the time of murdering a pensioner, his third victim, because he wanted to rob her and permanently silence her, a police inspector told a court yesterday. Criminal Investigations Department inspector Chris Pullicino was testifying in the Criminal Court against Salvatore Mangion, who is undergoing judicial process to determine whether he was sane enough to face trial for the murder of Maria Stella Magrin. Mangion does not contest having killed the woman, but is pleading insanity. He is already serving two terms for the murder of another two elderly women who he robbed and killed. The case in question goes back 26 years to 1986. Salvatore (Silvio) Mangion, 47, Zejtun, is due to undergo a trial by jury for the murder of Ms Magrin, when he broke into her residence in Cospicua, stole money and then killed her. The woman, 68, was found dead in a pool of blood and it later transpired that she had suffered 13 stab wounds. In 2010, Mangion was jailed for life after a jury found him guilty of the murder of Rosina Zammit, 54, who was stabbed in her home in Safi in 1984. She was killed, sustaining 37 stab wounds and in that case too, Mangion was convicted of burglary. When handing down sentence, Mr Justice Joseph Galea Debono had described Mr Mangion as a serial killer. He had also been convicted in 2002 for the murder of Francis Caruana and the attempted murder of his sister Guzeppa, in another burglary, in 1998.(independent.com.mt) Murder cases are to be tried later.

Shares in City Gate project on offer from Monday week
20 million shares in Malita Investments, the Special Purpose Vehicle which will fund the Valletta City Gate/Parliament project, will go on sale on July 23. Company chairman Kenneth Farrugia said another 10 million shares will be available in case of over-subscription. The shares will be offered at 50c each. They will be listed on the stock exchange from August 16. Speaking at a press conference this afternoon, Mr Farrugia explained that Malita is a fully-owned government entity where the government cannot have less than 70% shareholding. He said the company's purpose is to acquire and manage a portfolio of immovable assets of strategic national importance, of which the City Gate project is the first. The company directors are Vincent Mifsud, Frederick Mifsud Bonnici, Danny Rosso and Ann-Marie Tabone. Mr Farrugia said the government had so far bought 50 million shares through a direct investment of €25 million and 68 million shares in return for the transfer of direct ownership of MIA (valued at €21.5m) and Valletta Cruise Port (€12.5m). Malita will use its revenue to fund the €82m City Gate project. It will also pay the government a groundrent of €100,000 a year. The government and Malita have already signed an agreement for the government to lease the Parliament Building for 20 years and the open air theatre (30 years) for a total of €5.2m per annum.(timesofmalta.com) The City Gate project is a project that requires a lot of support.

Tourism policy based on authenticity, sustainability - Minister
The emphasis in Malta's tourism policy for 2012 to 2016 is on authenticity, both in terms of hotels and product, Tourism Minister Mario de Marco said this afternoon. He was speaking during the launch of the policy at the Westin in St Julian's. The new policy will be building and consolidating upon the previous one but in a different way, he said. It biggest emphasis will be on sustainable and responsible tourism. Dr deMarco said that while it was important to promote tourism, one could not have tourism at all costs. Social and environmental aims also had to be met. Emphasis would be on tourism based on authenticity. "We cannot expect to be something we are not. For many years we did not pay enough attention to what is truly Maltese," Dr de Marco said. He said that the country needed to continue to invest in cultural heritage, history, and village cores. The country's tourist attractions were not just in Valletta, Rabat and the Cittadella (Gozo) – they were more widespread. There were many villages in Malta which had the characteristics to offer unique and authentic experience. He said that more importance would be given to the countryside over the next four years, as this had never really been given any consideration. He noted that 13 per cent of Maltese territory was Natura 2000 sites.(timesofmalta.com) The authenticity and durability are the watchwords of tourism.

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