A round-up of today's other stories in brief
Don't panic on tax letters, ACCA advises
The Association of Chartered Accountants (ACCA) has advised single premium insurance holders "not to panic" if they receive a letter from their financial institution notifying them that their details have been provided to the Revenue Commissioners.
The names and investment details of individuals who invested more than €50,000 in a single premium policy between 1990 and 2003 have been released to the Revenue.
However the ACCA has stressed that the majority of such individuals "should have nothing to worry about", saying that not all cases will be selected for Revenue audit.
The ACCA has advised concerned individuals to gather together all documents showing where the money invested in the policy originated, and has called on the Revenue to adopt a "sensitive approach" towards older policyholders.
New appointment at Bausch & Lomb
Multinational eyecare producer Bausch & Lomb announced yesterday that Frank O'Regan has been appointed vice-president of operations, global contact lens. He will now be responsible for contact lens manufacturing in the Americas, as well as Europe.
Mr O'Regan joined Bausch and Lomb in 1998 as general manager of its Waterford facility, and in 2001 became vice-president responsible for the group's European manufacturing plants.
IN&M's Indian holding's profit up
Independent News & Media said yesterday that its Indian associate company, Jagran Prakashan, had reported a record profit for the first quarter.
The Irish media group owns 21 per cent of Jagran Prakashan, publisher of India's largest selling daily newspaper. The New Delhi-based publisher said profit after tax rose more than fivefold in the three months through June to 229 million rupees (€3.8 million) after advertising revenue and circulation sales increased.
Drinagh court dispute settled
A dispute between Drinagh Co-operative and its financial controller/assistant chief executive Tom Ryan has been settled, the High Court heard yesterday. Two weeks ago the court was told Mr Ryan was on suspension on full pay. He had secured an interim order restraining his dismissal. The company had argued there was no necessity for the injunction.
When the case was mentioned in court yesterday, counsel for Mr Ryan said the action had been settled and could be struck out. Talks had taken place outside the court in a bid to secure a settlement.
Ovoca Gold names new financial chief
Exploration group Ovoca Gold named company secretary John O'Connor as its new chief financial officer after the resignation of Danesh Varma.
Mr O'Connor, a chartered accountant, has been with Ovoca since 1997. He will be based in the company's London office, overseeing Ovoca's commercial and financial affairs, as well as three subsidiaries.
Petroceltic begins trading on IEX
Shares in oil and gas exploration group Petroceltic International began trading on the Irish Enterprise Exchange (IEX) yesterday.
The shares are already listed on London's Alternative Investment Market, and had a previous listing on the Exploration Securities Market of the Irish Stock Exchange.
