A round-up of today's other finance stories in brief
Agreement on planned route of gas pipeline
Shannon LNG, a unit of Hess Corp and Poten Partners, has reached agreement with farmers in the southwest on the planned route of a new gas pipeline.
The €500 million pipeline would link the Republic's first proposed liquefied natural gas terminal to the national grid.
Final costs depend on the number of storage tanks, said a spokesman for the project. Two tanks are initially planned, though permission is being sought for more.
Terms were reached with the farmers to compensate them for the pipeline, which would cross about 60 farms on its 30km route, the spokesman said. The project is expected to start operation in 2012, he added.
Documents requesting permission to build the import terminal, which could house up to four 200,000-cubic-metre LNG storage tanks, were submitted to the planning authority, An Bórd Pleanála, in September. - (Bloomberg)
Telecoms firms to invest €3.2bn
Telecoms firms will invest €3.2 billion in infrastructure over the next five years according to a new survey by the Telecommunications and Internet Federation (Tif).
The survey was carried out in advance of Tif's annual conference which takes place in Dublin's Mansion House today.
Applications for Sound & Vision
Applications are being sought by the Broadcasting Commission of Ireland (BCI) for the fifth funding round of Sound & Vision, a scheme that uses 5 per cent of the licence fee to fund the making of television programmes.
The Sound & Vision scheme began in October 2005 and has dispersed €40 million through previous rounds for the making of 175 TV programmes.
The scheme is designed to support the production of new TV and radio programmes in the areas of Irish culture, heritage and experience and adult literacy. The closing date for applications is November 28th.
UTV moves assets to holding firm
UTV has officially transferred its assets into a new holding company called UTV Media. Shareholders in UTV will receive one share in UTV Media for every share they own in UTV.
The change, which has been approved by the High Court in the North, reflects UTV's expansion beyond television into radio and new media. Last year, total sales from the group's radio assets exceeded those derived from television.
Anglo Irish Swiss move
Swiss private bank EFG International would consider buying the Swiss operation of Anglo Irish Bank if it was put up for the sale.
It was reported at the weekend that Anglo Irish could net up to €150 million for the business. An industry source said yesterday that talks about a sale of the bank's Swiss operation were at an advanced stage. Switzerland's Julius Baer and HSBC have also been linked to bids for the division. - (Reuters)
Crude oil rises over $86 a barrel
Crude oil rose above $86 a barrel for the first time in New York on concern Turkish forces may pursue Kurdish militants in Iraq, curbing shipments as refiners prepare for the peak-demand heating season. Crude oil for November delivery rose $2.48, or 3 per cent, to $86.17 a barrel at the close of floor trading on the New York Mercantile Exchange. - (Bloomberg)
