A roundup of today's other business stories in brief:
Commercial property tipped to grow
Chartered surveyors expect strong growth in the commercial property market, although this may slow in the future, according to a survey commissioned by Bank of Scotland (Ireland).
Declan O'Hanlon, head of property banking at the bank said surveyors expected the office sector to overtake the rental sector as the preferred investment area.
The lack of attractive investment opportunities was identified as the key obstacle to market activity.
Digicel wins in Papua New Guinea
Digicel, the Denis O'Brien-owned mobile phone group, will continue its expansion into the South Pacific region having secured a licence to operate a GSM network in Papua New Guinea.
According to Digicel, the mobile market in Papua New Guinea is currently underserved, with a mobile penetration of just 1 per cent of the state's 5.9 million population.
"We look forward to creating a substantial business in Papua New Guinea," Denis O'Brien commented yesterday.
Ice Broadband buys Ildana
Ice Broadband, based in Finglas, Dublin, has acquired the assets of satellite broadband provider Ildana for an undisclosed sum.
Yvonne Rooney, managing director of Ice Broadband, said yesterday that the acquisition would enable the company to speed up its penetration of the Irish market.
Ildana went into liquidation earlier this year when a proposed sale to Pure Telecom fell through.
DAA appoints Shannon executive
The Dublin Airport Authority (DAA) has announced the appointment of Pat Shanahan as executive chairman, Shannon Airport, with immediate effect.
Reporting to Declan Collier, chief executive of the DAA, Mr Shanahan in his new executive role will help co-ordinate and implement strategic initiatives at Shannon Airport. In this capacity he will work closely with Martin Moroney, director, and John Horgan, head of change management at Shannon Airport.
Invest NI names marketing adviser
Invest Northern Ireland (Invest NI) has appointed Gerry Murphy as its new marketing adviser. Mr Murphy, who previously worked for companies such as C&C and WHB McDonnell (Unilever), will advise the agrifood sector on developing a presence in the Republic of Ireland.
NI private sector growth slows
Growth in private sector activity in Northern Ireland slowed down in August, according to the latest Ulster Bank Purchasing Manager's Index. The index, published yesterday, fell to a reading of 53.1 in August, from 56.0 in July, a faster rate of deceleration than in the Republic, UK or euro zone. But the survey confirmed that input cost pressure was also easing
Ulster Bank chief economist Pat McArdle said that the jobs situation remained resilient in Northern Ireland.
Investor ups stake in Oglesby & Butler
Well-known private investor Kevin Anderson has raised his stake in Oglesby & Butler, the Carlow-based engineering group.
Mr Anderson now holds 25.7 per cent of the company, up from 24.8 per cent previously. This follows the purchase of 112,984 Oglesby & Butler shares last Thursday.
