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NEWS Businesslife.co expands its reach


CHAMELEON GROUP’S business and lifestyle title businesslife.co has signed a distribution agreement that will see more than 1,000 copies of each issue placed in lounges at Gatwick, Manchester and Southampton Airports. This will be in addition to the copies available from magazine racks at Jersey and Guernsey Airports. Carl Methven, Co-Founder of Chameleon


Group, comments: “With our magazine now available at 17 airport lounges, it demonstrates our commitment to expand the reach of businesslife.co to an audience outside of the Channel Islands.”


Jersey passes e-gaming laws


THE STATES of Jersey has given the go-ahead to online gambling laws that many believe could generate millions of pounds for the island. In a 43-4 vote, States Members approved regulations that will allow the creation of a new industry for Jersey, delivering real benefit to the island’s economy and to its telecoms infrastructure. The new legislation has been beset by delays, which have come under attack from many


quarters (see article on page 16). However, with the new rules in place, Jersey could start reaping rewards, with companies paying £35,000 and upwards a year for a license.


New data centre for Jersey


ON 22 MARCH, Jersey Telecom Group (JTG) opened a new data centre at Rue des Pres, making it the largest provider of data hosting services in the Channel Islands. This is JTG’s sixth data centre in the Channel Islands, and is an important step in the Group’s plans to make the Channel Islands the primary telecommunications hub for Europe. “State-of-the-art data centres such


as this enable the island to offer disaster recovery and data hosting services to a broad range of industries across the globe,” says JTG Managing Director, Tim Ringsdore. “It will also enable the island to make the most of the e-gaming market… [as] the States of Jersey have now passed the necessary regulations to open up that market.”


Guernsey tops private


equity survey A NEW SURVEY of Chief Financial Officers has revealed that Guernsey is by far the preferred location for private equity fund administration. In the Private Equity News/ State Street CFO survey, 61 per cent of respondents said Guernsey was their preferred destination for private equity outsourcing. Jersey was mentioned by 15 per cent of respondents, another 15 per cent chose London, while Luxembourg was the location of choice for 7.7 per cent.


Itex investment to aid local businesses


INNOVATIVE offshore IT services provider Itex has significantly bolstered its own IT infrastructure in order to facilitate improved efficiencies and cost savings for local businesses. The company has invested £500,000 in a push-button technology platform called Matrix, which aims to allow businesses to flex and scale their IT needs simply and quickly according to demand. Itex is not only the first organisation in the Channel Islands and the UK to deploy this dynamic automated platform, but they are also the first in Europe to offer it for business use.


8 businesslife.co April/May 2011


businesslife.co businesslife.je


business news . views . comment . lifestyle Issue 14: April/May 2011


Funds on the move How the global landscape for funds is set to change


LAW: Are the Channel Islands up to speed when it comes to drafting new legislation? COMMODITIES: The impact that soaring prices are having on our everyday lives


PLUS: NEWS . APPOINTMENTS . DAME MARY PERKINS . IT . TRUSTS . TOURISM . CLASSIC CARS . LIFESTYLE www.businesslife.co


BUSINESSLIFE.CO


ISSUE 14 . APRIL/MAY 2011


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