More news in brief.

Construction sector output drops 14.9%

Output volume in the construction sector fell by 14.9 per cent in the last three months of 2007, compared with the same period in 2006, data released by the Central Statistics Office yesterday showed.

The slowdown in residential building has been even more marked, with production volumes in the fourth quarter down 31.4 per cent compared with the same period the previous year. The value of housing output dropped 29.4 per cent in the same period.

The Production in Building and Construction Index also shows that the value of production decreased by 12.4 per cent over the same period.

However, the volume of production in civil engineering increased by 14.1 per cent year-on-year, reflecting continued investment in National Development Plan projects.

Aer Lingus load factor declines

Aer Lingus passenger traffic rose by 4.2 per cent to 852,000 in April compared with the same period last year after the airline added aircraft and routes.

The load factor, or proportion of seats filled, fell to 70.5 per cent from 81.2 per cent a year earlier, led by a 17.7 per cent drop on long-haul flights, Aer Lingus said.

According to the airline, this reflects an increase in capacity provided by the introduction of two new long haul aircraft. On Wednesday Aer Lingus increased its fuel surcharge on transatlantic flights by up to 30 per cent to offset high oil prices.

Aer Lingus passengers flying between Ireland and New York, Boston, Chicago or Washington will now have to pay €65 each way, compared with €50 previously.

Revenue outlines interest details

An item in Thursday's editions stated that the Revenue Commissioners would, under new regulations, automatically receive details of deposit interest paid to customers by financial institutions by September 15th.

Revenue points out that the new rules do not yet apply to credit unions. Revenue also notes that the information it receives will relate to gross interest earned before deposit interest retention tax (Dirt) is deducted rather than the Dirt itself.

Ormonde finds tungsten zone

Ormonde Mining has found a "substantial" and "wide" tungsten zone at its Barruecopardo mine in Salamanca, Spain, the company announced yesterday.

The exploration group, which is quoted on Dublin's IEX market for small companies and London's Alternative Investment Market (Aim), said the zone contained high grade mineralisation.

Online marketing agency takeover

Online marketing agency Interactive Return has been acquired by Publicis Groupe Media for an undisclosed sum. Founded in 1999 Interactive Return specialises in search engine marketing and its clients include Tourism Ireland, Autotrader, Crowne Plaza Hotels and IDA Ireland.

Following the deal Publicis Groupe Media is expected to have billings of €150 million in Ireland this year.

Cork firm on crest of wave energy

An Irish company said yesterday it is gearing up to become the first to produce electricity commercially from wave energy.

Cork-based Ocean Energy, which has been testing its technology on a site off Spiddal in Co Galway, said it hopes to begin supplying commercial quantities of electricity to the national grid by 2011. The company, established by businessmen John McCarthy, Michael Whelan and John Keating, briefed members of the Oireachtas joint committee on climate change yesterday.