In Short

A round-up of today's other stories in brief...

Oriflame to create 35 jobs in Bray

Swedish cosmetics company Oriflame is to create 35 jobs in Bray, Co Wicklow following a €2.4 million investment in research and development supported by IDA Ireland.

The establishment of Oriflame's centre of excellence for product RD will bring total employment at the site to 127 over the next five years. Oriflame, which sells directly to consumers, opened its Bray facility in 2000. The company had global turnover last year of €1.109 billion.

World Bank's $100bn in new aid

The World Bank is set to provide up to $100 billion in new aid to developing countries, amid fears that the spreading effects of the financial crisis could devastate poorer and middle-income states.

Robert Zoellick, World Bank president, said it would be an "error of historic proportions" to ignore the interests of developing states whose projected growth rates have been slashed in the wake of the current crisis. - ( Financial Times service)

United Drug a recommended buy

Healthcare and pharmaceutical services group United Drug has been reiterated as a "buy" by Goldman Sachs analysts who have also added the stock to their "conviction" buy list.

Goldman is predicting growth in pretax earnings of 14 per cent this year "driven by strong growth in UDG's higher margin businesses".

Oil price at lowest level in 20 months

Oil prices yesterday tumbled below $60 a barrel, their lowest level in 20 months, amid worries that the global economy is slowing more rapidly than expected.

In New York, West Texas Intermediate oil prices tumbled to an intraday low of $58.32 a barrel, down almost $4, while in London, Brent oil prices fell below the key $55 a barrel level for the first time since January 2007. - ( Financial Times service)

30-year low in UK home sales

House sales in Britain reached their lowest level in at least 30 years and retail sales fell by the biggest amount in three years in October, further signs the British economy is heading for recession, figures showed yesterday.

The Royal Institution of Chartered Surveyors said the average number of sales per surveyor over the three months to October fell to 10.9 from 11.5 - the lowest since the series began in 1978.- ( Reuters)