A roundup of today's other business news in brief

£16m expansion of hotel in Belfast will create 80 new jobs

A £16 million expansion to an upmarket city centre hotel in Belfast is set to create an additional 80 jobs.

The Northern Ireland based Beannchor group which owns the five star Merchant Hotel in the Cathedral Quarter, said despite the economic downturn it has plans for growth.

Owner Bill Wolsey described the project as “a labour of love”. He said the group is looking at enlarging a second hotel in central Belfast on Skipper Street.

China’s currency undervalued

China’s currency remains “substantially” undervalued, the staff of the International Monetary Fund said yesterday, but the IMF’s executive board was divided on the issue.

The disagreement among the board weakens the pressure on China to revalue the renminbi. – (Copyright The Financial Times Limited 2010)

Zurich to create new Dublin unit

Zurich Financial Services, Switzerland’s largest insurer, has said it will create a new Dublin-based European unit within its global life business in a push to boost sales.

Emerging markets head David Sims will lead the European business from Dublin. – (Bloomberg)

First Derivatives wins SGX contract

Newry based First Derivatives has won a significant new contract to supply the Singapore Exchange (SGX) with specialist software.

First Derivatives said its an “important milestone” in the group’s ambitions to expand into the Asian market.

Apple sues firms over accessories

Apple has sued companies it said are selling unauthorised electronic accessories such as chargers for the iPod music player, iPhone and iPad tablet computer. Apple said it has a programme called 'made for iPod' under which manufacturers can get a licence to sell accessories for the devices. -(Bloomberg)