In short

A roundup of this week's other business news in brief

Asda to create 230 jobs with Belfast store

The British supermarket multiple Asda has announced plans to open a new store in north Belfast in a move that could create up to 230 full- and part-time jobs.

Asda plans to redevelop a former Dunnes Stores building on the Crumlin Road into a new 2,326sq m (25,000sq ft) store.

Construction is currently under way on another new Asda store in Antrim, which the group says will be its largest in the North.

Asda said the 5,017sq m (54,000sq ft) store at the Junction One out-of-town retail and leisure park would create 400 jobs once completed.

Tests at Openhyrdo Nova Scotia plant

Irish green energy company, Openhydro has begun testing its tidal power electricity-generating technology at a site off the Novia Scotia coast in Canada.

The company shipped its one megawatt turbine to Novia Scotia this week where it will be tested at a tidal power site located in the bay of Fundi on the island’s coast, where there are strong tidal currents.

Novia Scotia Power is Openhydro’s partner in the sector of technology development.

The Irish company is based in Greenore, Co Louth, and its shareholders include businessman Philip Lynch.

Quinn Insurance

Quinn Insurance has said that the €201 million loss incurred on investments last year related to the company’s interests in various equities and properties, and not from an investment in Anglo Irish Bank, contrary to a report in yesterday’s editions.