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

Pay drops for Kerry Group directors

Four executive directors of the Kerry Group saw their total remuneration fall last year, as their performance bonuses were cut.

Chief executive Hugh Friel saw his salary increase 5 per cent to €710,000, but his performance-related bonus dropped 27 per cent from €330,000 in 2005 to €241,000 in 2006, a year in which the Kerry Group's pretax profits fell by 26 per cent. His total remuneration was €1.2 million.

Deputy chief executive Denis Cregan, chief financial officer Brian Mehigan and Flor Healy, the chief executive of Kerry Foods, also saw their bonuses and total pay fall.

Mr Cregan took home total remuneration of €1 million, Mr Healy earned €743,000 and Mr Mehigan earned €693,000.

Stan McCarthy, chief executive of Kerry Ingredients Americas, was the only executive director to see his bonus and total pay increase. He was awarded a bonus of €361,000 and total remuneration of €708,000, after Kerry's US business grew at a faster rate than its European activities.

NI private sector still expanding

Northern Ireland's private sector continued to expand last month, though the rate of growth slowed in line with the rest of the UK.

According to the latest Ulster Bank Purchasing Managers' Index for Northern Ireland, output and new orders continued to increase in March, though input price inflation eased.

Unlike the rest of the UK, where backlogs of work are contracting, in the North backlogs are still growing, indicating that employment growth is likely to remain strong, at least in construction, Ulster Bank said. "Construction is now, more than ever, the driving force, with retail and manufacturing easing and service relatively strong," said Pat McArdle, the bank's chief economist.

Petroceltic wins drilling licences

Shares in Petroceltic jumped yesterday on news that the company has won seven new licences to drill for oil and gas in the Italian Adriatic Sea.

The sites, which Petroceltic will operate on its own, are adjacent to four oil and gas fields. The company already has two sites in the area, including one, Elsa, for which it revealed yesterday it already has good quality seismic data.

Shares in Petroceltic closed up 1.8 per cent at 14 pence in London. In Dublin they were down 3 per cent, at 21 cent.

Circle Oil signs Tunisia deals

Circle Oil said yesterday it had signed two farm-in agreements giving the company access to sites in Tunisia. Analysts said it would give the company the opportunity to participate in drilling wells with short lead times.

ING recognised as Irish bond dealer

The National Treasury Management Agency announced yesterday that it had added Dutch group ING Bank to the eight existing companies it recognises as primary dealers in Irish Government bonds.

The primary dealers bid in competitive auctions of Irish Government bonds and make a two-way market in the bonds at all times.

Ulster Bank offers start-up package

Ulster Bank has launched a new dedicated business start-up package, offering customers free banking for three years. It is also offering a start-up loan rate of 5.95 per cent variable and access to loans of up to €30,000, with no need for personal guarantees to be backed by assets.