A round-up of today's other stories in brief
Development director joins board of EBS
EBS Building Society has appointed Emer Finan to its board. Ms Finan, who has worked previously with NCB Corporate Finance, ABN Amro, Citibank and KPMG, joined EBS two years ago as director of strategic development and company secretary.
Dollar falls to multiyear low
The dollar fell to multiyear lows against higher-yielding currencies yesterday and remained near a record low versus the euro as investors braced for data expected to show declines in home construction and inflation.
Weakness in those reports would provide fresh incentives for dollar bears, who punished the greenback last week as a deepening housing slump and a decline in retail sales further dented the case for higher US interest rates this year. -(Reuters)
Euro inflation at ECB target again
Euro-zone inflation stayed at the European Central Bank's target for the 10th straight month in June, data confirmed yesterday, but economists said this was unlikely to stop the ECB raising interest rates further.
EU statistics office Eurostat said prices in the 13 countries using the euro rose 0.1 per cent month-on-month, leading to a 1.9 per cent year-on-year gain, in line with market expectations and earlier estimates.
The equivalent annual figure for the Republic was 2.8 per cent.
Island to begin drilling at gas well
Island Oil & Gas plc said it has spudded gas appraisal well 57/2-3 on its exploration licence 5/05 in the Celtic Sea.
It follows on from Island's successful gas appraisal well at the nearby Old Head of Kinsale. .
Survey will aid find on Irish coast
Providence Resources, along with its Spanish Point partners, said that it has licensed part of GX Technology's long offset North East Atlantic Span Survey over the Spanish Point discovery in the Porcupine Basin, which is off the Irish shore.
The data will be used to fine-tune the location for a planned 2008 appraisal well on the Spanish Point project, together with providing improved imaging of the nearby Burren oil discovery, also within the licence area.
Wolseley hurt by US market fallout
Fallout from tough conditions in the US housing market hurt Wolseley, the world's largest distributor of heating and plumbing products, as profits at its US building products division fell by two-thirds last year.
As a result, in the 11 months to June 30th, group profits fell 5 per cent in spite of a 15 per cent rise in sales. - (Reuters)
Tax publication launch tomorrow
Tánaiste Brian Cowen will launch a new Institute of European Affairs publication, Who's Afraid of the ECJ?: Implications of the European Court of Justicedecision on Ireland's Corporation Tax Regime, by Frank Barry and Rosemary Healy-Rae, tomorrow and not Thursday as stated in yesterday's newspaper.
Invest NI to spend €1.48m on aircraft
Invest NI will invest more than £1 million (€1.48 million) in a £6 million programme by Bombardier to help design aircraft engines that have less impact on the environment.
The project is part of a UK-wide £95 million environmentally friendly engines initiative.
