A round-up of today's other news stories in brief...
Businesses confident for 2008
The majority of small and medium sized businesses in the Republic and the North remain confident about the year ahead, according to a survey published yesterday.
The Ulster Bank business confidence survey, conducted in December, found that more than three quarters of the 900 businesses surveyed expected their performance this year to exceed that of 2007.
However plans to invest in staff, new premises and new markets were found to have been scaled back when compared with a survey in April 2007.
The research found 83 per cent of businesses in the Republic and 79 per cent in the North believe their performances will remain strong, but they are more cautious about the environment in which they operate.
Exporters call for postcodes
The absence of a postcode system is hitting international trade, according to the Irish Exporters Association.
The group said yesterday that the lack of postcodes made the Republic's system inefficient and was adding up to 30 per cent to An Post's sorting and routing costs.
An Post chief executive John Whelan said the Government was supposed to have introduced a postcode system by January 1st this year.
ECB drains €170bn from markets
The European Central Bank (ECB) drained close to €170 billion from euro zone money markets yesterday, although generous cash supplies kept market interest rates low.
The ECB has intervened regularly over the last two weeks to mop up excess short-term cash after flooding markets with close to €370 billion in longer- term funds to cover liquidity needs through the holiday period and the turn of the year. - (Reuters)
Godson resigns from AIB board
Don Godson has resigned from the board of AIB, where he was a non- executive director, the bank said yesterday. Mr Godson resigned on New Year's Eve.
He is a former chief executive of building materials giant CRH.
€6m funding for projects in west
The investment arm of the Western Development Commission invested €6.2 million in 17 projects last year. The fund has made investments totalling €27 million since its inception, with more than three- quarters of this going to small and medium sized enterprises and the remainder to community projects.
The commission promotes economic and social development across seven western counties.
US may ease trading rules
Stock exchanges outside the US - including the Irish Stock Exchange - could provide direct trading access to US investors through US-based brokers for the first time under proposals being prepared by the Securities and Exchange Commission (SEC).
Restrictions on the ability of foreign brokers to solicit US investors could also be removed. The development, which could come as early as this quarter, would remove a major obstacle to cross-border trading. - (Financial Times service)
Bank executives dismissed
Commerzbank has dismissed two of its top executives in the US, including its country head, the German bank said yesterday.
It said it had decided to part company with Hans Joachim Döpp, head of operations in New York, and Jürgen Boysen, head of the US credit business. The bank declined to comment on whether the departures were linked to subprime mortgage market losses. - (Financial Times service)
