Current Account: SHELL E&P Ireland is not known to be shy when it comes to the press - particularly since its extensive shake-up of public relations over a year ago after the 94-day jailing of the Rossport Five. However, one detected a slight coyness within the company this week about the future of its "external communications support".
Up to now this combination of public relations and backroom lobbying has been provided for the troubled Corrib gas project by lobbyists Financial Dynamics (FD), headed by Paul MacSharry, and Powerscourt Media, co-founded by Irish journalist Rory Godson. However, FD's three-year contract is up, and Shell confirmed to Current Account that the PR company had asked "not to be considered" for any new consultancy arrangement.
Shell says it is "still in the process" of appointing an alternative, but the successor is believed to be Q4 Public Relations, run by former FF press handlers Jackie Gallagher
(ex-Irish Times and Bertie Ahern's advisor from 1994 to 1998), Martin Mackin, along with Angie Kinnane, formerly of FD, and Gerry O'Sullivan, Eircom's former director of corporate affairs.
With some State consents still to be secured for aspects of the project, it would appear Shell is still banking on FF in power after the general election
Davy knocked off perch
After five years of being voted Ireland's top stockbroker in a poll of fund managers carried out by Institutional Investor magazine, Davy has finally been toppled by its biggest rival Goodbody Stockbrokers.
The 2007 All-Europe Research Team survey, which canvasses the views of institutional investors on both sides of the Atlantic, described the result as a "surprising upset".
It said Goodbody's stock-picking skills were evidenced by its coverage of Kingspan, which it recommended in December 2005 at €10.66. Kingspan's stock subsequently rose by 88 per cent. Not too shabby.
Robbie Kelleher and his colleagues at Davy need not be too upset. One money manager quoted in the research said it continues to provide "excellent coverage and management access" on the Irish market while its quality of research was "above the average".
The result meant that Joe Gill, Goodbody's head of research until recent weeks, could bow out at the top. The unenviable task of retaining this prestigious crown, in the face of renewed effort by the now-independent Davy, falls to Goodbody's new research chief, Eamonn Hughes, who doubles up as a banking analyst. No pressure Eamonn.
Slimmed-down dividend
Hutchison Telecommunications International kept its shareholders on tenterhooks for 10 days before finally announcing how it intends to distribute the proceeds arising from the US$11.1 billion sale of its Indian arm to Vodafone. Of the $9.6 billion pre-tax gain HTIL will book, it is planning to pay about US$4.1 billion through a special dividend of HK$6.75 per share with another US$5 billion retained for reinvestment purposes.
Shareholders who had hoped for a fatter special dividend payment now have another reason to complain - HTIL has been more generous with journalists than it has been with its minority shareholders.
In keeping with Chinese new year tradition, each of the journalists who attended an HTIL briefing yesterday was given a "Lai See" packet containing a HK$50 coupon redeemable at Park n Shop - the Hutchison Whampoa group's Hong Kong grocery chain.
The coupon is about seven times more valuable than the special dividend.
A male-free paradise
In its latest attempt to boost tourism and cheer up its restive citizens, Iran is to offer a male-free haven on the island of Arezou, in the huge Urumiyeh salt lake in its north-west.
Arezou (which means "wish" in Farsi) is to be developed as aspecial tourist destination, with its public transport, hotels, restaurants and medical centre all staffed by women, the local municipality announced this week.
Iran already boasts women-only beaches on its northern and southern coastlines, allowing women to relax and strip off their hijab - the Islamic covering of hair and body curves - away from male eyes.
The Iranian media has reported that the women-only plan for Arezou island has been approved by the provincial representative of Ayatollah Ali Khamenei, the supreme leader, as consistent with Islamic sharia law.
Arezou is more likely to attract domestic than foreign women tourists. Unsurprisingly, the stand-off over Iran's nuclear crisis is deterring all but the most adventurous travellers from overseas. - (Financial Times service)
