A roundup of today's other business news in brief

Day of gains and losses on jobs front

It was a mixed day on the jobs front yesterday with 3 Ireland and Cavan-based Crompton Greaves both announcing new jobs while Musgrave said it intended to cut 80 positions.

Mobile network operator 3 Ireland said it would create 90 new jobs as part of a major expansion programme.

Elsewhere, green energy company Crompton Greaves (formerly Pauwels Trafo) in Cavan town confirmed plans to create 21 new positions.

Cash and carry company Musgrave Wholesale Partners said it would cut 80 jobs at depots across Ireland, including Cork, Kerry, Dublin, Galway, Limerick, Waterford and Donegal. A further 25 jobs will go in Belfast.

Nama fills four key executive roles

The National Asset Management Agency (Nama) has filled four key roles on on its five-member executive management team who will report to chief executive Brendan McDonagh.

As reported by The Irish Timesyesterday, Nama has appointed estate agent John Mulcahy as head of portfolio management and former Ulster Bank executive Ronnie Hanna as head of the agency's credit and risk division.

Aideen O’Reilly, a legal adviser with the National Treasury Management Agency, has meanwhile been appointed head of legal and tax, while former NTMA deputy director Seán Ó Faoláin has been named head of business services.

Banking sector needs to be ‘more caring’

The banking sector needs to be “more caring” of the consequences of its activities, chief executive of the Irish Banking Federation Pat Farrell has admitted.

Addressing the Leinster Society of Chartered Accountants yesterday, Mr Farrell also said that the industry must get back to “the real business of banking” and refocus on servicing small and medium enterprises (SMEs).

While he expected that the establishment of Nama would lead to an improvement in the funding of the SME sector, he warned that the flow of credit could be negatively affected by the deterioration in the risk profile of such firms.