The Association's monthly newsletter "MCPBA News" had it's first anniversary with it's 12th issue! This issue of the newsletter comprised four pages, instead of the usual two. We hope to retain the four page format for future issues. However, for this to happen contributions by the membership, in the form of articles, anecdotes etc. is required! We need your help to keep on printing this Newsletter. We want to hear from you. Let us know what you think and what you would like to see in future issues. Let us have your written contributions. So take a few minutes to Fax your comments, news, questions, articles, etc. As usual, Fax your contributions to MCPBA News at (416) 234-2281. As we said before, without your input MCPBA News could die a natural death! Examples of Articles From Past Newsletters Association's Survey Support The Executive Board of the Association has supported a very innovative research project on "Language Maintenance Among Maltese Immigrants to Canada". This survey is part of a thesis that Victoria, B.C. resident Hannah Slavik is preparing for her Master's Degree in Linguistics at the University of Malta. After spending last year studying in Malta, Ms. Slavik has now started her thesis research in Canada. Through the survey and a number of interviews, she aims to ascertain the extent to which the Maltese language continues to be spoken amongst first, second and third-generation Maltese-Canadians. Relatively little research has been done to date on the Maltese community in Canada compared to that done by other immigrant groups and it is hoped that this research will fill the gap that exists about this aspect of our heritage. The Association's contribution amounted to $100. News from Malta Has Malta Struck Oil? The Maltese and international press have recently been reporting that oil has been found in a well being drilled in Kercem, Gozo by the Italian company SAIPEM, who is being funded through a financial agreement between the Maltese and Italian governments. The Maltese government has expressed cautious optimism on the matter. Drilling has been done to a depth of just over 6,000 metres (19,700 feet) and continues at the rate of 1.5 metres (5 feet) an hour in 200 million year-old rock. The presence of gas has been detected and this is usually associated with the presence of good quality oil. However, tests need to be held over the coming month in order to determine whether the well has the potential to yield viable quantities of oil or gas. High Praise for Maltese Banks The soundness of the Maltese banking industry has recently received a very strong endorsement by one of the leading financial magazines in the U.K., Euromoney. The turmoil in the global financial markets has switched attention from returns made on investments to the security offered by the banking systems in countries around the world. Those who entrust their hard-earned savings with such banks are scrutinizing the management and performance of these banks more closely than has been the case in the past. In a cover story that appears in the October 1998 issue of the magazine, Mid-Med Bank and the Bank of Valletta came in for much praise due to their strong showing in the survey that contrasted sharply with the volatility that has rocked major emerging markets such as Brazil, Russia, South Korea and Indonesia. The report showcased both Maltese banks mentioned above as an illustration that government ownership (67% in the case of Mid-Med and 25% in the case of the Bank of Valletta) is no barrier to achievement. Both banks have a relatively strong capital base, good management and have modernized their respective customer services. Moreover, the island's banking regulations have been brought in line with those of the European Union. However, the report also stated that competition is getting tougher for both banks with the arrival of foreign competition, such as Midland Bank from the U.K. Good news indeed for those entrusting their savings with these banks, both of which are strongly represented in Canada through their respective offices in Toronto and Mississauga. European Parliament approves resolution on Malta Europe is now in full gear for the introduction of the new European currency that will be called the "Euro" and which will come into effect on January 1, 1999. This is considered to be an important milestone in bringing the member countries of the Community ever close together. Malta's application for accession to the Community received a great boost when a resolution was approved by the European Parliament which asked the General Affairs Council and the European Commission to support Malta's renewed application. The resolution stressed how Malta formed an integral part of the European national and cultural community and was willing to participate as an active member of the EU. It also pointed out the import-ance of the Island's geo-strategic location between the European and African continents and that Malta's inclusion in the EU would strengthen the Mediterranean dimension of the EU. Ex-speaker at an MCPBA function now Speaker of Mala's Parliament Some of our readers may remember a meeting that we had back in 1995 when our featured guest was Dr. Anton Tabone, who was then also accompanied by his wife. Although Dr. Tabone lost his parliamentary seat in last month's election, he has been rewarded for his hard work by being appointed Speaker by the new Nationalist government. St. John's Co-Cathedral Next time you visit this unique monument built by the Knight of St. John, do not be surprised with some changes that you will notice on entering the cathedral. A new system to channel visitors has been introduced to protect the old marble memorial tablets that cover the floor. Visitors will now enter from the left main door, proceed to the different chapels on the side, across the main altar and back out from the right side. The central aisle is now closed to the public. Eventually, it is intended to open the balcony so visitors can enjoy a panoramic view of the church. The restoration of the floor tablets has actually been an ongoing process for the past 100 years and about 50 out of the nearly 400 tablets have now been restored. These restored tablets are not expected to need any further attention for at least another 100 years.

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