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

Oil price drop cuts euro-zone inflation

Lower oil prices helped cut September euro-zone inflation to its lowest in three and a half years and price growth expectations eased too, data showed yesterday, but this is unlikely to stop further European Central Bank (ECB) rate rises.

The European Union's statistics office estimated prices grew 1.8 per cent year-on-year in September - the lowest rate since March 2003 - down from 2.3 per cent in August and below market expectations of 1.9 per cent.

But, although it is now at the European Central Bank's target of "below, but close to 2 per cent", economists said inflation would rebound in a few months as the oil price effect wore off, Germany raised Value Added Tax and the economy powered ahead. - (Reuters)

Ormonde Mining passes milestone

Releasing its accounts for the six months to the end of June, Ormonde Mining said its lead project has passed a critical milestone and was now advancing into its final evaluation.

The company, which is working on several gold projects in Spain, yesterday revealed a loss of €236,000 but said that following a share placing earlier this year the group had more than €5 million in cash to fund its ongoing exploration projects.

Icon shareholders approve stock split

Shareholders in Icon, the Irish provider of development services to the pharmaceutical industries, yesterday approved a two-for-one stock split at the group's extraordinary general meeting.

The new shares, of which each existing shareholder will receive one unit, will be issued on October 13th.

Former chairman's warrant dismissed

A New York judge yesterday dismissed the arrest warrant for the former chairman of British online gambling firm Sportingbet, allowing him to return to Britain.

The ruling ends three weeks of uncertainty for Peter Dicks, who was arrested in New York on September 7th under a warrant issued by the state of Louisiana charging him with "gambling by computer". - (Reuters)

Lansdowne seeks opportunities

Lansdowne Oil and Gas, spun off from fellow exploration group Ramco earlier this year to focus on Irish interests only, said it is actively seeking farm-out opportunities for its properties in the Celtic Sea.

The firm, which yesterday revealed a loss of £166,000 (€245,000) for the six months to the end of June and no revenue, said it was forced to abandon one well in the Donegal Basin after finding no resources. Still, the group has £1.6 million in cash and is aiming to drill at least one exploration well on its Celtic Sea properties next year.