In short

A roundup of today's other business news in brief

State’s external debt falls €51bn, CSO data reveals

Ireland’s gross external debt fell by €51 billion to €1.64 trillion by end of September 2009, data from the CSO showed yesterday.

Government foreign borrowing rose €1 billion to €73 billion from June 2009 levels and climbed €22 billion compared to September 2008.

The liabilities of insurance companies, pension funds, treasury companies and other relevant financial enterprises, as well as non-financial enterprises totalled €618 billion, representing 38 per cent of the total debt, compared with 37 per cent in June.

The liabilities of monetary financial institutions were almost unchanged, falling €85 million to €691 billion between June and September.

Businesses warned over scam letters

Businesses have been warned to exercise vigilance after the re-emergence of scam letters from a company posing as an Irish internet registration body.

Businesses and individuals with a registered .ie internet domain name have received letters by a company called Internet Register Ireland with an address in Germany.

The IE Domain Registry, the managed registry for Ireland’s official internet address, is urging SMEs in particular to remain vigilant against the scam, which asks recipients to sign a form to update their domain and reregister their details at a cost of nearly €3,000 over three years.

M&S posts increase in underlying sales

Marks & Spencer posted its first rise in quarterly underlying sales for over two years, joining rivals in reporting solid Christmas sales while also warning of an uncertain 2010.

The 126-year-old group said yesterday that sales at British stores open at least a year rose 0.8 per cent in the 13 weeks to December 26th, its fiscal third quarter. – (Reuters)

Intec’s Irish arm lost 714,000 in 2008€€€

The Irish arm of UK-owned software company, Intec sustained an operating loss of €714,000 in 2008.

According to accounts recently filed with the Companies’ Office, the Galway-based Intec Billing Ireland Ltd sustained the operating loss after turnover decreased by 8 per cent from €46.3 million to €42.4 million.

The software consultancy company employs 115 people in the Galway IDA business park and provides business and operations support systems to service providers in the global telecommunications market.

The company’s pre-tax loss to the end of September 2008 was €5,000 after interest payments and other costs totalling €704,000 reduced the company’s operating profit. The loss in 2008 compares to a pre-tax profit of €4 million in 2007.

Irish Life to sell US corporate bonds

Irish Life & Permanent Plc, the country's biggest life insurance company, and Bank of Tokyo-Mitsubishi UJF Ltd. are joining companies poised to sell at least $5.9 billion (€4 billion)of US corporate bonds after international financial institutions helped turn yesterday into the second-biggest on record for new issues. - (Bloomberg)