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anticipates ten redundancies, by Brian Reyes - Gibraltar
Gibraltar Casino will lose up to 10 of its existing
staff as part of a restructure ahead of a £5.5m
move to Palm Island in Ocean Village. But it plans
to recruit up to 40 new employees locally to fill
new posts once the relocation is complete.
manager Stuart Kirkpatrick said about six workers
had already been made redundant from a staff of 120
and that a further “three or four” jobs
could be lost.
said affected staff had been offered the option of
new posts in the restructured business but many had
preferred to move on.
have engaged with union representatives and have met
to discuss the changes, he said. The latest meeting
is scheduled for today.
recruitment drive for new employees will start next
year and there will be vacancies in all areas of the
need to fill those jobs and we’ll be looking
locally,” Mr Kirkpatrick said.
The staff shake-up follows a wide-ranging operational
review carried out by casino management since April
ahead of the move next year.
Ocean Village site will be a completely revamped casino
and could be up and running as early as next August.
Gala Casino, which owns the Gibraltar Casino, will
invest heavily on cutting edge technologies to offer
customers new products and games.
will be miles from where we are now,” Mr Kirkpatrick
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is a British overseas territory located near the southernmost
tip of the Iberian Peninsula overlooking the Strait
of Gibraltar. The territory shares a border with Spain
to the north. Gibraltar has historically been an important
base for the British Armed Forces and is the site
of a Royal Navy base.
The name of the territory is derived from the Arabic
name Jabal Tariq, meaning "mountain of Tariq".
It refers to the geological formation, the Rock of
Gibraltar, which in turn was named for the Berber
Umayyad general Tariq ibn-Ziyad who led the initial
incursion into Iberia in advance of the main Moorish
force in 711 under the command of Umayyad Caliph Al-Walid
I. Earlier, it was known as Mons Calpe, one of the
Pillars of Hercules. Today, Gibraltar is known colloquially
as Gib or The Rock.
A one-year investigation and analysis of 235 countries
and territories by Jane’s Country Risk listed
Gibraltar as the top stable and prosperous British
Territory, in 5th position overall. The sovereignty
of Gibraltar has been a major bone of contention in
Anglo-Spanish relations. Gibraltar was ceded by Spain
to the Crown of Great Britain in perpetuity, under
the 1713 Treaty of Utrecht, though Spain asserts a
claim to the territory and seeks its return. The overwhelming
majority of Gibraltarians strongly oppose this, along
with any proposal of shared sovereignty. The British
government has stated that it is committed to respecting
the Gibraltarians' wishes.
Economy of Gibraltar
The barbary macaques form an integral part of Tourism
The British military traditionally dominated the economy
of Gibraltar, with the naval dockyard providing the
bulk of economic activity. This has however diminished
in the last twenty years, and it is estimated to account
for only 7% of the local economy, compared to over
60% in 1984. Today, Gibraltar has an extensive service-based
economy, dominated by financial services and tourism.
A number of British and international banks have operations
based in Gibraltar. Recently, many bookmakers and
online gaming operators have relocated to Gibraltar
to benefit from operating in a regulated jurisdiction
with a favourable corporate tax regime. However, this
corporate tax regime for non-resident controlled companies
is due to be phased out by 2010.
Tourism is also a significant industry. Gibraltar
is a popular stop for cruise ships and attracts day
visitors from resorts in Spain. The Rock is a popular
tourist attraction, particularly among British tourists
and residents in the southern coast of Spain. It is
also a popular shopping destination, and all goods
and services are VAT free. Many of the large British
high street chains have branches in Gibraltar, including
Marks and Spencer, BHS, Dorothy Perkins, and the supermarket
Figures from the CIA World Factbook show the main
export markets in 2006 were United Kingdom 30.8%,
Spain 22.7%, Germany 13.7%, Turkmenistan 10.4%, Switzerland
8.3%, Italy 6.7% while the corresponding figures for
imports are Spain 23.4%, Russia 12.3%, Italy 12%,
UK 9%, France 8.9%, Netherlands 6.8% and United States
The Gibraltar Government state that economy grew in
2004/2005 by 7% to a GDP of £599,180,000. Based
on statistics in the 2006 surveys, the Government
statisticians estimate it has grown by 8.5% in 2005/6
and by 10.8% in 2006/7 and that the GDP is probably
now around 730 million. Inflation was running at 2.6%
in 2006 and predicted to be 2% to 3% in 2007. Speaking
at the 2007 budget session, Peter Caruana, the Chief
Minister said "The scale of Gibraltar's economic
success makes it one of the most affluent communities
in the entire world."
Main article: Gibraltar pound
Under the terms of the 1934 Currency Notes Act, the
Government of Gibraltar issues banknotes which are
legal tender alongside Bank of England banknotes in
Gibraltar. These notes are backed by sterling reserves
held by the Gibraltar government and can be exchanged
at parity with sterling through a currency board arrangement.
Clearing and settlement of funds is conducted in sterling,
and Gibraltar banknotes in circulation bear the words
"Pounds sterling". The euro is unofficially
accepted in Gibraltar by most retail outlets, though
not by the Post Office or by some payphones.
has a digital telephone exchange supported by a fibre
optic and copper infrastructure. The main telephone
operator, Gibtelecom, also operates a GSM network
and is an Internet Service provider.
A local company Gibnet Limited, started the first
Internet service in January 1996 and later changed
its name Sapphire Networks Limited.
Victorian Post Box of standard 1887 UK design in use
in Gibraltar Old Town in 2008.
International Direct Dialling is provided, and Gibraltar
was allocated the access code 350 by the International
Telecommunication Union. This works from all countries
with IDD, including Spain, which has accepted its
use since 10 February 2007, when the telecom dispute
was resolved. Gibraltar mobile and fixed service numbers
are eight digits.
Dial-up, ADSL, high-speed Internet lines are available,
as are some wifi hotspots in hotels. Local operator
CTS is rolling out WiMax.
The Gibraltar Broadcasting Corporation operates a
television and radio station on UHF, VHF and medium-wave.
The radio service is also Internet-streamed. Special
events are streamed in video.
The other local radio service is operated by British
Forces Broadcasting Service who also provide a limited
cable network for television to HM Forces.
The largest and most frequently published newspaper
is the Gibraltar Chronicle, Gibraltar’s oldest
established daily newspaper and the world’s
second oldest English language newspaper to have been
in print continuously with daily editions six days
a week. Panorama is published on weekdays, and Vox,
7 Days, The New People, and Gibsport are weekly. (Credit:
Man Australia does not represent the Rock Hotel or