The Gibraltar Magazine- October 2010
Gibraltar's monthly business and leisure magazine. Features, business and finance, wining and dining and much more!
dining guide � business & finance � sport & leisure � property � history � community g ibraltar magazine the October 2010 Vol. 15 No. 12 FREE A Star Among Us Managing Risk in Today's Environment Gibraltar's High Flier Daisy Dioxin's Derby Mania There's a New Deputy in Town Isaac Newton's Gibraltar Connection WHENITCOMESTOBUYINGAPROPERTYINGIBRALTAR, OURCLIENTSENJOYTHEBENEFITOFEXPERTADVICE COUPLEDWITHLOCALKNOWLEDGE With the mortgage service from Barclays Wealth, you benefit from: � Competitive interest rates � A great choice of mortgages including: Fixed Rate, Tracker and Mix & Match mortgages � Experienced mortgage advisers with a detailed understanding of the Gibraltar property market � The peace of mind that comes with the resources and 300 year heritage of the Barclays group Tofindoutmore,pleasecall0035020052338orvisitusinbranch Forabetterdealonyourmortgage,we'rewithyou. YOURHOMEMAYBEREPOSSESSEDIFYOUDONOTKEEPUPREPAYMENTSONYOURMORTGAGE. *Linesareopen9amto5pmMondaytoFriday.Callsmayberecordedsothatwecanmonitorthequalityofourserviceandforsecuritypurposes.Borrowupto85%ofthevalueofyourproperty. Barclayswillrequireafirstchargeovertheproperty. BarclaysWealthisthewealthmanagementdivisionofBarclaysandoperatesthroughBarclaysBankPLCanditssubsidiaries.BarclaysBankPLC.RegisteredinEngland.Authorisedandregulated bytheFinancialServicesAuthority.Registerednumber:1026167.Registeredoffice:1ChurchillPlace,LondonE145HP.AuthorisedbytheGibraltarFinancialServicesCommissiontoconduct bankingandinvestmentbusinessinGibraltar.ItemRef:PP1143 G i b r a l ta r A s s e t M a n a g e m e n t S T O C K B R O K E R S & I N V E S T M E N T M A N A G E R S Discretionary Portfolio Management Advisory & Execution-Only Dealing Equities, Fixed Interest & Commodities CFDs (Contracts for Differences) Traded Options Online Dealing Gibraltar's Member Firm of the London Stock Exchange One Irish Place, Gibraltar Telephone: (+350) 20075181 www.gam.gi Authorised and regulated by the Financial Services Commission Gibraltar Asset Management is the trading name of Gibraltar Asset Management Limited, a company registered in Gibraltar with registration number 18064 and registered office at 28 Irish Town, Gibraltar. 17/09/2010 Mobile o ers from Gibtelecom SIM free handsets with 12 month warranty �89 Samsung B3310 LG GD510 �114 �119 �39 64GB on Gibtelecom from only �66 per month* (includes data subscription) *TERMS & CONDITIONS APPLY iPad 3G Nokia 1616 �57 Nokia 2323 �86 Nokia 2730 Nokia 3720 �149 Nokia E63 �169 �198 Sony Ericsson C902 Nokia N97 mini Nokia E52 �229 �239 �259 Sony Ericsson W995 �299 Sony Ericsson Xperia X10 Further info on: 20052200 www.gibtele.com Nokia E72 �329 �389 8GB - �499 16GB - �699 Samsung S8300 Nokia 6700 �253 Samsung S3650 Genio Jyske Bank is also a TV station en.jyskebank.tv en.jyskebank.tv - - en.jyskebank.tv Weight Loss Management | Facial Reshaping | Cosmetic Dentistry | Non-surgical Treatments | Body Reshaping "My team is committed to driving industry-leading standards to really set Mills Medical apart". medical group Mr Mario Russo, Medical Director of Aesthetic Surgery Cosmetic Surgery Experts �2,695 Nose Reshaping from �2,695 Tummy Tuck from �4,995 Breast Enlargement from The most competitively priced on the coast Introducing the amazing blood group diet Anti-wrinkle fillers from ONLY �170 Call: (0034) 952 908 538 www.millsmedical.com Clinics: Marbella | Fuengirola | Malaga | Gibraltar | Benalmadena | what's inside? features 24 26 32 36 50 54 38 39 40 42 30 46 66 76 Do We Really Now Live in One World? There's a New Deputy in Town Levi's Extraordinary Life Making Headlines Minister for All Seasons Touring Through Time business & finance 8 9 12 14 16 18 20 22 28 Business & Finance Guide Is Kidnap & Ransom Covered? Managing Risk in Today's Environment Jill Sealey: a star among us WTC Planned for Gibraltar Finding a Job FAQs Mark Carreras: Gib's high flier Human Resources & Your Rights Business Attracted by Low Tax Rate property & interiors Property Directory A Thought for the Old Town Where now for the Local Market? Feng Shui Your Office 38-43 arts & lifestyle 34 48 52 69 73 74 dining guide � business & finance � sport & leisure � property � history � community history & heritage Worse Thing Happen at Sea John White's Gibraltar Collection Euryalus: Flagship to Prison Hulk Isaac Newton's Gibraltar Connection If it's Not fun, it's Not NADFAS What's On October Exploring Pathways Through Poetry National Day, Family Day Gibraltar Summer Ball Daisy Dioxin's Derby Mania gibraltar the The Gibraltar Magazine is published monthly by magazine October 2010 Vol. 15 No. 12 FREE Guide Line Promotions Limited health & medical 58-65 food & drink 80-89 A Star Among Us Managing Risk in Today's Environment Gibraltar's High Flier Daisy Dioxin's Derby Mania PO Box 561, PMB 6377, 113 Main St, Gibraltar Tel/Fax (+350) 200 77748 E-mail: firstname.lastname@example.org Publisher/editor: Office manager: Studio: Andrea Morton Jolene Gomez Kristin Mortensen 58 60 62 64 Holiday with a Difference Lifestyle & Breast Cancer Health & Fitness Guide Creativity for Change 80 Events file 82 Autumn Eats & Treats 85-88 Restaurant & Bar Guide 89 Time for Wine There's a New Deputy in Town Isaac Newton's Gibraltar Connection regulars 68 90 Puzzle Page Around Town information 70-71 94 City Centre Map Gibraltar Information Copyright � 2010 Guide Line Promotions Limited. All rights reserved. No part of this periodical may be reproduced without written consent of The Gibraltar Magazine. Caleta Hotel photographed by Kevin Fitzmaurice Brown Vol. 15 No. 12 October 2010 Magazine & website archived by the British Library www.TheGibraltarMagazine.com GIBRALTAR MAGAZINE � OCTOBER 2010 7 legal services financial services THE GIBRALTAR FINANCIAL SERVICES HANDBOOK Information on the Rock's off-shore advantages in Taxation, Law, Banking, Company & Trust Formation, Insurance, Business, Property and Financial Services. Comprehensive A-Z Index for the visiting professional or businessman and the discerning investor. Detailed appendices on relevant Gibraltar Government legislation. On sale at bookshops and newsagents in Gibraltar at �15. Worldwide airmail order service at �25 sterling or equivalent from GFSH, PO Box 555, Gibraltar. legal services Hassans 57/63 Line Wall Road Tel: 200 79000 www.gibraltarlaw.com Tel: +350 200 76173 E-mail: gib@SovereignGroup.com ISOLAS Portland House, Glacis Road Tel: 200 78363 www.gibraltarlawyers.com Specialists in Document Imaging and Filing Systems, Microfilm Bureau Services, Information Management and Consultancy, CD-ROM Titles, Computer Hardware & Software business services Dealers for 1st Floor, Unit F4, Europa Business Centre Tel: 200 42723 Fax: 200 40612 INTERNATIONAL WORLDWIDE DISPATCHES 11 Engineer Lane, PO Box 532, Gibraltar Tel: 200 73775 / 200 4622 Fax: 200 7439 / 200 4623 accountants COURIERS LTD Leading suppliers of general and computer stationery and office products in Gibraltar OPENING HOURS MONDAY to THURSDAY General Agents for 9.30am to 6.00pm FRIDAY 9.30am to 5.00pm Durante Carboni Jardim Accountants & Auditors Suite 1 & 2, Newton House, 5 King's Yard Lane, Gibraltar Tel: 200 79033/200 70762 Fax: 200 76374 Computer / network giving you a headache? Call us for a swift, reliable cure. 17 Convent Place Tel: 200 4-999-1 Fax: 200 4-999-2 www.pc-clinic-gib.com Email: email@example.com � Support Contracts � Network Installation & Troubleshooting � Web Design � PC Repairs, Upgrades & Construction � PC Maintenance 5 CLOISTER RAMP, GIBRALTAR Tel: 200 74352 Fax: 200 40304 e-mail: firstname.lastname@example.org E.S.V. Hassan & Co Chartered Certified Accountants P Box 230 Suite 4, 9th Floor .O. International Commercial Centre Casemates, Gibraltar Tel: 200 71610 Fax: 200 70113 business supplies recruitment www.glasshouse-europe.com To advertise in The Gibraltar Magazine Tel: 200 77748 GIBRALTAR MAGAZINE � OCTOBER 2010 GIBRALTAR MAGAZINE � OCTOBER 2010 by Ian Le Breton business & finance Insurance � even Kidnap & Ransom cover can be arranged in Gibraltar The month of December means getting ready for the festive season -- unless you're a retailer when the process seems to begin any time after the end of June. And, for most people, it's also a time when personal budgets are at their most stretched with a dramatic leap in one-off costs all in the name of goodwill to all men. For me, since I moved here six years ago, December is also the time of year when I have to pay a series of bills for something I don't want and hope never to have to use but which nevertheless I must have. What is it? In a word, insurance. In the same month I have to pay for the car, the apartment (contents at least), review my health cover and of course the annual travel insurance policy. Thinking about these areas recently, I decided to take a closer link at the insurance world and, in particular, an area of insurable risk that may not be immediately obvious. These days almost any risk can be insured -- if you search hard enough or if you employ a good broking firm to do the job for you. But perhaps we should first consider the main elements of insurance. What is it and who are the parties involved? In economic speak, insurance is essentially a type of hedge against an uncertain loss at some time in the future. The management of the risk is handed over to an insurance company in exchange for a fee -- the premium -- and an insurance contract is created. You and I become policyholders; the premium we pay is, if you care to consider it this way, our loss. We know what this "loss" amounts to, and in advance. In exchange we mitigate any catastrophic loss that could occur in the future. We can go about our business, be it driving our cars or jetting off on some trip, safe in the knowledge that in the event of trouble, the financial cost will be covered. Of course there is the thorny question of an "excess" � the contribution we must make in the event of a claim although it should be possible to reduce this with proper negotiation. So it set me thinking about other types of risk. Here in Gibraltar we are fortunate to be able to access the international insurance market if the local market cannot provide the required cover. Maritime risks, for instance, are a key component within the local market and Gibraltar enjoys an enviable reputation in this sector. And not just those superyachts we see at Queensway Quay and Ocean Village, but also the numerous merchant vessels we see out in the bay and passing through the Strait of Gibraltar. The potential business possibilities are infinite but it was when talking to Steve Armstrong, managing director of Ocean Village-based Quest Sovereign Insurance Services that my eyes were well and truly opened. Steve is a larger than life Aussie and I am used to his style -- but when he asked if my clients had considered Kidnap & Ransom insurance, I did a double take. "Kidnap and Ransom risk?" I asked. "What, like here in Gibraltar?" He gave me a look you might give a recalcitrant three-year-old and started to explain. Mercifully, he told me, Gibraltar does not have a high profile when it comes to Kidnap & Ransom exposures. But what you need to consider are the risks along the African coast that begins just a few miles away. And if you intend travelling through the Suez Canal then eventually you will come to the area off the Horn of Africa that has seen an enormous increase in such problems in recent years. Piracy has been a problem on the high seas for thousands of years. In times past, it usually referred to the boarding or taking of a ship and stealing what was easily available. Now it invariably means the taking control of a vessel, its cargo and crew and only releasing it for a negotiated payment -- a ransom. The safe return of the crew is the key element in any such negotiations and both pirates and ship owners are fully aware of this. And it is not just commercial vessels that are targeted. Private yachts are equally at risk. This criminal trade was able to establish and flourish in Somali waters because of the lack of organised governmental authority in Somalia that allows pirates to use the country as a safe haven for their activities. The crime is now beginning to be copied elsewhere in the world -- particularly where there is extreme poverty, local corruption and a lack of government control. Marine piracy is rapidly becoming a sophisticated international business. Despite the increasing presence of international naval forces, particularly in the Gulf of Aden region, piracy incidents are significantly increasing worldwide and it is anticipated that this trend will continue. I was staggered to learn that there were over 400 cases worldwide in 2009 Despite the increasing presence of international naval forces piracy incidents are significantly increasing worldwide and it is anticipated that this trend will continue GIBRALTAR MAGAZINE � OCTOBER 2010 9 business & finance (up from 300 the year before). A quarter of these were in Asia. Globally, 150 vessels were boarded and a third of them hijacked. Over 1,000 crew were taken hostage. And the problem is not confined to the Gulf of Aden region. A British couple were seized near the Seychelles in October 2009 and other areas of concern include Nigeria, the South China Sea, Bangladesh, as well as Central and South America. Most affected by increasing marine piracy risks are ship owners, charterers and cargo owners, not to mention individual crew members. So what can be done to mitigate the financial risk? In the past, traditional marine insurance policies provided some measure of protection. Owners relied on what is termed General Average contribution from their insurers in the event of a hijack and ransom demand. This is no longer true today because of the higher frequency of such events, together with increasing levels of ransom demands. Under these circumstances, specific piracy risk protection, known as Marine Kidnap & Ransom Insurance (or Marine K&R, for short) has been developed and should be considered by a prudent ship owner. Furthermore, there are likely to be substantial additional costs involved in a vessel hijacking -- crisis response consultancy fees, legal and ransom delivery fees, and a host of other associated costs that would never be considered payable under General Average. The availability of experienced crisis response personnel in the event of a vessel hijack can be vital. These are a limited group of specialised personnel experienced in negotiation with the pirates to safely secure the release of the vessel, its cargo and crew. Such expertise is expensive and it can be difficult to secure the services of the best operators. Specialised Marine K&R insurers have established contacts with such personnel and the insurance policy would cover the financial cost of such services. It was quite an eye opener talking to Steve and learning more about a subject I had not considered other than when watching the news. And it came as a surprise that such exposures could be insured -- and by providers based here in Gibraltar. He also advised of the increasing demand for non-marine Kidnap & Ransom cover where K&R coverage can be provided to HNW individuals, their families and businesses. This is becoming an important consideration for such parties as the world-wide economic system deteriorates and there is an increasing divide between the `haves' and the `have nots'. My various insurance policies might seem expensive to me but they are only a tiny part of the overall insurance world -- a global playing field that is extremely well serviced from right here in Gibraltar. n It was quite an eye opener learning more about a subject I had not considered other than when watching the news. And it came as a surprise that such exposures could be insured -- and by providers based here in Gibraltar Ian Le Breton is Managing Director of Sovereign Trust (Gibraltar) Limited -- providers of intelligent offshore planning since 1987. Tel: +350 200 76173 Email: ilebreton@ SovereignGroup.com David Newman and Paul Sykes Moves at Aon Insurance... Aon Insurance Managers (Gibraltar) Limited, part of Aon Corporation -- the leading global provider of risk management services -- held an event at Celebrity, Ocean Village, in September to congratulate David Newman on his promotion to the position of Executive Chairman in Gibraltar and to say farewell to Managing Director Paul Sykes who will remain within the Aon Group but has now left Gibraltar for pastures new. We wish both men the best of luck in their new roles. n 10 GIBRALTAR MAGAZINE � OCTOBER 2010 www.gibraltarlawyers.com We offer the stability and security of advice that only the longest established law firm in Gibraltar can do. So whatever you're planning, wherever you're headed, we're right behind you. For all your legal requirements, contact: Trusted since 1892 email@example.com Portland House, Glacis Road, PO Box 204, Gibraltar Tel: +350 200 78363 Fax: +350 200 78990 www.gibraltarlawyers.com expert opinion Managing Risk in Today's Environment Lee Francis, Director Business Management at Barclays Wealth Gibraltar writes on how to reduce risk whilst maximising return for investors in the current environment. Managing risk more effectively is one of our industry's top priorities for the second half of 2010 and into 2011. After 18 months in which financial services companies and crucially some of their clients have suffered substantial losses, experienced risk management weaknesses and in some cases seen an increase in fraud, their faith in their staff and advisors is understandably shaken. What's risk management and why is it important in banking? All financial service providers incur financial risk every day in their day-to-day business indeed taking or transferring a certain amount of risk is a crucial part of the sector. Financial Risk management is a fundamental part of our business activity and an essential component of the planning process. Each company has a slightly different approach or culture to risk. In Barclays the preferred approach has always been to optimise risk/return decisions by taking them as closely as possible to the business, while establishing strong and independent review and challenge structures. Previously, many Financial Services firms had been able to make reasonable returns and good margins without the need to invest in world class operating systems and risk processes. In today's very new world however, there is an urgent need for improvement. Clients are placing tougher demands on their banks when it comes to understanding operational risks to which their wealth is being exposed. Regulators in the financial industry are also responding to pressure from investors, governments and the wider public by being more vigilant. The new Basel rules requiring Banks to hold larger capital reserves of at least 7% of risk weighted assets, announced on 16th September, seem likely to be the shape of things to come. The credit crunch The economic downturn of 200708 has had a significant impact on the financial industry. Hedge funds, one of the high profit, investment options saw the loss of a quarter of their assets and forced some out of business (Hedge Fund Research, 2008). A loss of confidence in the industry among private clients has seen increased client interest in large institutions, which are more risk conscious and more likely to insist on greater openness. Private clients are looking for options which are much more transparent and where risk is better managed. Yet despite the problems of the last few years, several international banks in Europe, including Barclays Clients are placing tougher demands on their banks when it comes to understanding operational risks to which their wealth is being exposed. Regulators are also responding to pressure from investors, governments and the wider public 12 GIBRALTAR MAGAZINE � OCTOBER 2010 expert opinion Group, have managed their risk and returned quickly to profit, without the need for direct government financial support. There are diverse reasons for these firms success. But one thing remains true in financial services, although investors may want investment portfolios which are more risk averse or boring as some commentators put it, they also want them to be profitable. Present improvement in conditions We have started to see that as economic conditions stabilise and even improve, clients are very hopeful that pretty soon the environment will be back to normal as a very minimum. The optimistic amongst us might even say we are hopeful of seeing an increased level of demand from clients; so now is the time for us to invest in our risk management policies and procedures so we are ready to cope with the growth once it returns. Barclays has always taken risk very seriously. Established, profitable companies operating in well regulated jurisdictions like Gibraltar stand to benefit from the new expectations of clients, so there are real opportunities from the new economic climate. Even so, everyone in the industry needs to acknowledge there is no room for complacency. We have all heard of cases of fraud and stories of so called Ponzi scheme investment and the damaging effect this can have for all concerned, so accuracy and explicability is now top of the agenda for anyone operating in our industry. It's my role to ensure the team here can respond to the ever increasing demands from their clients around safety, security and exposure for their wealth, and ensuring we have proper, fit-for-purpose systems in place to provide this assurance is essential. Modern risk management is extremely high tech, with every decision maker and every business unit having risk management procedures and staff in place. As we continue to see increased demands and requests from our regulators now more than ever before, investing time to ensure total compliance with our regulators demonstrates our ability to be able to address any major issues should they arise. Send your feed back on this article to Lee.Francis@barclayswealth.com Now is the time for us to invest in our risk management policies and procedures so we are ready to cope with the growth once it returns Lee Francis Director Business Management Barclays Wealth Gibraltar GIBRALTAR MAGAZINE � OCTOBER 2010 13 Jill Sealey She has a heart of gold, tenacious drive and an intelligent edge. It is no wonder Gibraltar's own, Jill Sealey, was awarded the Pure Distinction award by Durham Business School (DBS) for the top student of 2010 in programmes across the UK, Gibraltar and Jordan. Set in a career as an Occupational Therapist with the Gibraltar Health Authority, Jill was amongst many others from the GHA and other Gibraltar organisations to enrol on the programme to gain more insight on the managerial aspects of their respective professions. The programme provides students with the essential foundation of management and encourages development relating to each person's unique background. On successful completion of the programme, students receive a Master of Arts in Enterprise Management. "The programme gives you the building blocks then it's up to you to see how they fit together in your own organisation. It forces you to think more strategically, explore internally as well as externally and figure out what you can do to improve your organisation," Jill explains. After finding out she had A Star Among Us: won the award, Jill said she was "shocked." "I had no idea I was doing so well," she shyly chuckled, "there were other people who I'm sure did just as well." Jill, as humble as can be, confessed, "It took a lot of time and dedication, but I worked as hard as I could and got the results I wanted." The award ceremony took place in the UK at none other than the picturesque Durham Cathedral where Jill was presented with her award. Dr. Bill Snaith, Director of the Management Development Centre at DBS personally congratulated her. Along with his personal acknowledgement, he awarded her with a limited edition print of Durham Cathedral. While some of the modules applied directly to her occupation, others provided a new learning experience for Jill. She explained that the most challenging parts of the programme were unfamiliar modules, such as finance, that were irrelevant to her line of work. Though challenging, she admits she enjoyed learning about different managerial sectors, allowing her to see management as a whole. Students from all over the world enrol in the programmes creating a diverse learning atmosphere. Since Gibraltar is a small community, it is beneficial to learn how corpora- " It took a lot of time and dedication, but I worked as hard as I could and got the results I wanted 14 " tions manage their business on a larger scale so that professionals can incorporate the techniques into their own business, and Jill is pleased that her organisation, the GHA, has a commitment to developing management potential in its staff. Over the past 12 years, DBS has progressed the knowledge and skills of over 400 people from diverse organisations locally making a difference to the professionalism of Gibraltar management. "It opens your eyes to what could be in Gibraltar and hopefully someday will," Jill said. "Learning about all aspects of management allows you to assess applicability to something that isn't in Gibraltar, but has the potential to be." The DBS programmes have been a huge success for the Gibraltar business community. DBS is ranked in the top 1% worldwide and is proud of its close relationship with Gibraltar. Many of the Gibraltar students have excelled GIBRALTAR MAGAZINE � OCTOBER 2010 by Kristin Mortensen at these high level academic programmes, placing us with the highest ratio of distinctions amongst the regional groups. Jill achieved a distinctive grade for every assignment in the Masters Degree, making her the top student of 2010. She claimed her secret to success came from venturing into the unknown with a willing and open-mind to learn new things and put forth an abundance of time and effort. Not only does she portray a strong work ethic in the classroom, but her above-andbeyond persona reflects in her profession as well. Jill originally wanted to be a nurse, but after further exploration felt her true calling was to work with long-term patients who suffered from serious diseases such as multiple sclerosis, strokes and heart attacks. Not surprisingly, Jill's ambitious attitude prompted her to take a lead role in the care of patients. It was then she decided to become an Occupational Therapist. She graduated from the London School of Occupational Therapy in 1987 and spent the following 11 years in the UK, working at an extensive variety of health care positions including mental health, physical therapy and with people career file erates and ways to improve it. I ask myself, `what do we provide? What should we provide?'" Jill's driven outlook and goodnatured heart are ideal characteristics for an Occupational Therapist at the GHA. She spends most of her time one-on-one with patients, teaching them how to regain their independence and do normal activities that most people don't think twice about. Although her job can be demanding at times, she says the most rewarding part is seeing the patients progress over time and knowing she made a difference in someone's life. Dr. Bill Snaith, Director of the Management Development Centre at Durham Business School presenting Jill with a limited edition print of Durham Cathedral Durham Business School in Gibraltar Durham Business School was invited to Gibraltar by the Government in 1998 and rapidly expanded with the support of the Government of Gibraltar and the European Social Fund. DBS offers programmes such as the Business Management Programme, Senior Management Programme and Professional Development Programme. For more information on DBS, visit its website www.dur.ac.uk l who have learning disabilities. In 1998, Jill moved to Gibraltar with her husband and settled in as an Occupational Therapist in the Gibraltar Health Authority. "Now that I have completed the " programme, it has made me look at things a whole new way. I can use the programme as a benchmark of where I was and where I want to be. I've learned to stand back and take a look at how our service op- I can use the programme as a benchmark of where I was and where I want to be " Career Finders is Gibraltar's principal recruitment agency, focusing on filling the needs of clients and finding a career that suits each job seeker. Current vacancies: Qualified Accountant Audit Senior Technical Analyst Marketing Analyst Marketing Assistant Senior Developer Secretary Graduate Stock Broker Project Manager BI Project Manager Operations Manager MI/Reporting Analyst Investment Manager Junior Accountant Finance Graduate Assistant Accountant Financial Advisor Technical Insurance Underwriter Senior Portfolio Manager Part Qualified Accountant SAP Super User and Accountant Swedish Customer Service Agents Austrian Sportsbook Site Manager Senior Relationship Manager Telemarketing Consultant We have plenty more vacancies in a wide range of sectors. Send us your CV and we will make sure you apply for a role that suits your need. Career Finders Ltd, Unit D 66 Main Street, Gibraltar T: 200 66676 M: 5402 62 67. E: firstname.lastname@example.org. W: www.careerfinders.gi GIBRALTAR MAGAZINE � OCTOBER 2010 15 projects office space already sold or leased at his Ocean Village development. Members of the World Trade Centre Association have invited Butcher to attend the annual general assembly in Beijing next month when a vote of support is expected for the Gibraltar project to form part of a network covering more than 100 countries. "It has been proven that the presence of a World Trade Centre raises the business profile of the location in which it sits and the global alliance made possible opens up local businesses to a world of interconnections opportunity," Butcher explains. International businesses like merchant bank Morgan Stanley, American Express and ABN Amro are represented in many of the existing WTCs and are anticipated to be interested in the prospect of the Gibraltar project given the tax benefits locally. In common with other World Trade Centres, Gibraltar's version in the extended Ocean Village will offer flexible spaces, a wide range of services, including secretarial, virtual offices, executive meeting rooms, year round exhibition and display space, as well as business lounge and Club services ideal for networking. Many existing Gibraltar enterprises operating from multiple locations are expected to be attracted by the availability of over 3,000m� space on a single floor, to bring greater efficiency through economy of scale, improved communication and staff motivation. "World Trade Centres are inherently endorsed both by governments and the private sector, attracting investment grade businesses, such as the global leaders in international trade and commerce, to make a powerful impact on the this territory's economy and status," Butcher enthuses. "Already many of the existing Ocean Village partners involved in, stock trading, asset management and gaming, as well as businesses looking to set up in Gibraltar have expressed interest in expanding into the new project", Butcher reveals. And he notes: "The existence of a World Trade Centre in Gibraltar would strengthen our territory's already impressive success in financial and other markets." n World Trade Centre planned for Gibraltar A World Trade Centre (WTC) is being planned for Gibraltar to help bring global recognition for the jurisdiction and ensure sufficient top quality office space is available to meet growing demand. The WTC will have a concierge reception for visiting senior inter-governmental and business leaders at the new international airport terminal now being built, state of the art video-conferencing and telephone communications and worldwide reciprocal facilities with 300 similar Centres across the globe. The Gibraltar Government is concerned that the lack of readily available quality office space could put a brake on the territory's further development. Chief Minister Peter Caruana told business leaders last month "We need to have more offices, especially if, as expected, the new Corporate Tax legislation provides an impetus for growth with new business and organic growth in insurance, funds and other areas. We have got to have available on spec, quality office space; otherwise they will come, like the jurisdiction, but then won't be able to locate here, because of lack of physical infrastructure." The World Trade Centre Gibraltar has come about because Ocean Village entrepreneur Gregory Butcher is to build an 11,000m� tower at Marina Bay, effectively trebling the Members of the World Trade Centre Association have invited Butcher to attend the annual general assembly in Beijing next month when a vote of support is expected for the Gibraltar project to form part of a network covering more than 100 countries GIBRALTAR MAGAZINE � OCTOBER 2010 16 events EFPG Opening Tom Fraser, Chief Executive of European Financial Planning Group with the Chief Minister Peter Caruana and EFPG Estate Agency staff at the opening of EFPG Estate Agents on Irish Town at the end of September. Local Barrister Amber Turner joins Litigaid Law Firm Local Barrister and acting Solicitor Amber Turner BSc (Hons) LLM has recently joined Litigaid Law at 2/2 Engineer Lane. Amber, who has been practising law for over 10 years with attendances at the Supreme Court, Court of Protection, Magistrates Court and Industrial Tribunal of Gibraltar will be setting up a new Family Law department (including Wills and Probate), as well as taking on cases in the fields of employment law, personal injury and clinical negligence. n Fire Brigade Charles Zammitt of the Environmental Agency presented members of the City Fire Brigade with certificates in Risk Assessment Principles and Practice from the Chartered Institute of Environmental Health on 20th September Taekwondo Good luck to the Gibraltar "Patterns" National Team, representing the Gibraltar Taekwondo Association, which will be participating at the Scottish Open Patterns Championships, being held in Scotland, on Saturday 2nd October 2010. GIBRALTAR MAGAZINE � OCTOBER 2010 17 employment For the second employment column, we asked Oliver Medina, Executive Recruitment Manager at Select Recruitment (Gibraltar), to compile a list of frequently asked questions and their answers to help job seekers. Q: Are there any jobs? A: This is the question we're asked most frequently and the simple answer is yes. The opportunities are there for those candidates who are willing to put themselves forward and persevere. Gibraltar's economy has fared better than most during the recent economic downturn, but the job market is by nature a competitive place and enthusiasm and determination will always make a candidate stand out from other job seekers. Q: Do I have to speak Spanish and English to get a job in Gibraltar? A: English is the official language of Gibraltar, so this is a must and is usually sufficient for most jobs. However some positions do require you to be bilingual, as some employers will have Spanish clientele given the close proximity to Spain. A good example would be a receptionist position where you are the first point of contact. Q: Why are there so many foreign language jobs in Gibraltar? A: As Gibraltar is a hub for the Online Gaming industry where companies operate Europe-wide, it is necessary for them to communicate with their specific markets. It may seem as though there are lots of foreign language jobs, but these are quite often entry level positions. Rest assured, there are also a wide variety of English speaking jobs in Gaming, IT, Accounting & Financial Sectors where fluency in English is of course essential but no additional languages are required. Q: Should I send my CV direct to employers in Gibraltar en masse? A: If you have seen an advert for a specific job, you are qualified and have the right experience, then companies will actively review your application if you apply direct. However, if you are sending your CV out en masse, it is highly unlikely that a company will be looking for your specific skill-set at that particular time and it will most likely be ignored. It is more advisable to target positions which closely match your skill-set as this approach allows you to customise your CV to highlight Text by Oliver Medina, Executive Manager (Financial Services and Banking), Select Recruitment (Gibraltar) -- a specialist eGaming, IT, accounting & financial services recruitment consultancy providing permanent, temporary and interim recruitment solutions. Questions for next month's article or info about Select Recruitment (Gibraltar) Tel: 216 21111 or email: email@example.com. www.srgrecruit.com. Finding a job... Frequently Asked Questions There are a lot of job seekers out there at the moment and competition is high. However, if you're job hunting in Gibraltar, you're searching in one of the few markets to be relatively unaffected by the global credit crunch, one where international employers are still actively recruiting for suitably qualified candidates. 18 GIBRALTAR MAGAZINE � OCTOBER 2010 charity relevant skills and experience in relation to the job specification thereby increasing the likelihood that you will be seriously considered for the role. If you are registered with an agency, it is their job to actively seek suitable positions which match your skills with the employer's needs and communicate with them at the right time. Q: I live in Spain but work in Gibraltar, therefore I do not pay tax in Spain. Am I covered by the Spanish health service if anything happens to me? A: If you are an EU Citizen then you have the right to formally register as a resident of Spain at your nearest "Polic�a Nacional" station. This is a simple process that only takes an hour or so. When working in Gibraltar you pay Social Insurance of �102.87 per month. Due to a local arrangement between Gibraltar and the provinces of both Cadiz and Malaga this contribution entitles you to healthcare, schooling and unemployment benefits in Spain in the same way as any other Spanish resident. Q: Is there an equivalent to the Job Centre in Gibraltar