Other business stories in brief
Ryanair to challenge new schedule
Aviation regulator Cathal Guiomard yesterday designated Dublin Airport as a co-ordinated airport for the 2007 winter schedule, a move that Ryanair said it would challenge in the High Court.
Co-ordination is being introduced to help to ease congestion at peak periods. On Monday, the regulator ruled that Dublin Airport should be co-ordinated for the summer season, running from March 25th to October 27th.
Ryanair has argued that co-ordination is not necessary. It successfully blocked an attempt by the regulator to co-ordinate Dublin Airport last year in a challenge to the High Court.
ESB in €37 million wind farm deal
ESB Independent Energy (Esbie), ESB's independent contracting arm, has agreed to buy all the electricity generated at the Lough Hill wind farm in Co Tyrone in a deal worth more than €37 million, writes Barry O'Halloran.
The wind farm, which is owned by Renewable Energy Systems (RES), a global player that is part of the privately-held Robert McAlpine Group, will have the capacity to generate 7.8 megawatts (mw) of electricity - enough to power about 6,000 homes.
The deal is worth £25 million (€37.3 million) over 15 years to RES and will run from next July, when the Lough Hill wind farm will begin operating.
EU conducts price-fixing raids
The European Commission raided ABB plants in Germany, Siemens plants in Austria and Germany, and others in France for suspected price-fixing in transformers, the EU executive and companies said.
"I can confirm that we undertook unannounced inspections on the 7th and 8th of February at premises of several power transformer producers in France, Germany and Austria,Commission spokesman Jonathan Todd said yesterday. - (Reuters)
Insulation rules 'to help Kingspan'
Rules governing insulation for newly-built homes will further boost growth at Kingspan's insulation division, one analyst predicted yesterday.
Joe Gill of Goodbody said that Dún Laoghaire- Rathdown's introduction of rules demanding that new homes fit insulation that will keep greenhouse gas emmissions at 40 per cent below the national standard will help drive organic growth at Kingspan.
Tough UK standards on insulation have already helped the Cavan-based group's insulation division.
Dublin 'sixth most pricey location'
Dublin is now the sixth most expensive location for office space in the world, according to a new report by Lisney's international partners Cushman & Wakefield. The report, which compares office occupancy costs in 211 locations across 51 countries, also found that Dublin was the joint biggest riser in the rankings, shooting up from 12th position last year.
Figures from Lisney also show that annual rents for top-of-the-range city centre office space have risen from €452/sq m at the end of 2005 to around €646/sq m per annum at present - a rise of 43 per cent in just over a year.
Continental staff share in profits
Continental Airlines' 19 Irish-based staff will today receive their part of a $111 million company-wide profit-sharing scheme, which was announced by the company yesterday. On average, Continental's staff will each receive $2,700.
