Today's other stories in brief
Total Produce begins trading on the IEX
Fyffes spinoff Total Produce started trading on Dublin's IEX yesterday.
The business, which comprises the former general produce and distribution division of Fyffes, was also admitted to London's AIM.
Fyffes last month received shareholder approval to split its business into two parts, enabling it to create what management claimed would be better value for shareholders. The Total Produce division had turnover of €1.7 billion and operating profit of €32 million in 2005.
Fyffes, which is still trading on Dublin's main market, will move to the IEX and AIM on January 10th.
CIT completes acquisitions
US finance specialist CIT Group, whose main European operations are based in the Republic, has completed its acquisition of the UK and German vendor finance businesses of Barclays Bank. More than 400 of CIT's 600 European employees are based in Blackrock, Co Dublin.
Merkel prioritises harmonisation
German chancellor Angela Merkel will this month launch a sweeping initiative for the harmonisation of US and European legislation to boost investment flows and trade between the world's biggest economic blocs.
Initial talks will review financial market regulations, including delisting rules, which many US-listed European companies feel are too cumbersome, as well as intellectual property law. - ( Financial Times service)
Net holiday group to offer discounts
A new online holiday company, XL Holidays, was launched yesterday, claiming to offer discounts and more competition in the Irish holiday market.
The tour operator, a subsidiary of XL Leisure, is offering holidays to all parts of Europe on its website and through travel agents.
Site registration costs to fall
The company that manages the Republic's ie internet domain registry will cut the cost of registering new sites and re-registering old ones by 13 per cent this year.
The move follows a string of reductions over the past three years that have seen the price of registration fall by 50 per cent since 2003.
EU entrants worth €160m in exports
The Republic will sell over €160 million worth of goods and services to the EU's newest members this year, Bulgaria and Romania, the Irish Exporters' Association said yesterday.
The new countries will bring the total EU population to 420 million. The association said it expected the Republic to sell over €130 million worth of goods to Romania and over €30 million to Bulgaria.
Central Bank director selected
Minister for Finance Brian Cowen yesterday named Alan Gray, managing partner of the Indecon Economic Consulting Group, as director of the Central Bank and Financial Services Authority Ireland.
Mr Gray, who is filling the vacancy created by the retirement of Friedhelm Danz, will also become a member of the Irish Financial Services Regulatory Authority.
Gilsenan named as IACT president
The Irish Association of Corporate Treasurers (IACT) has appointed John Gilsenan, managing director of Porsche International Financing, as its new president.
