A look at today's other news in brief
Newcourt trading in line with expectations
Newcourt, the Dublin and London-listed security, recruitment and aviation services group, said trading in the first four months of the year is "significantly" ahead of the same period last year but in line with market expectations.
Speaking at the group's agm yesterday, chief executive Ted O'Neill attributed the improved performance to the acquisitions made last year, as well as an increased contribution from existing businesses. He also said the company was very pleased with the acquisition of CCM International, the specialist healthcare recruitment firm.
US agency to review Tysabri
Pharmaceutical group Elan and its partner Biogen yesterday confirmed to the market that two different sections of the US Food and Drug Administration will jointly review the use of their multiple sclerosis drug Tysabri as a treatment for Crohn's disease on July 31st.
The two departments involved are the Gastrointestinal Drugs Advisory Committee and Drug Safety and Risk Management Advisory Committee.
African Eagle seals alliance
Aim-listed African Eagle Resources has signed a joint venture agreement with Australian-listed CGA Mining, formalising the ongoing alliance between the two companies in the development of the Mkushi copper mines in Zambia.
Mark Parker, managing director of African Eagle, welcomed the signing, saying it puts in place the administrative framework which the two companies need to take the Mkushi project towards production.
Petroneft says oil 'high quality'
Petroneft Resources, the Dublin-listed but Russia-focused oil exploration company, said yesterday that the oil found in its Lineynoye 6 well in the Tomsk Region is of high quality and flowed to the surface without stimulation.
The well has now been suspended as a future production well, but drilling is continuing in order to gather information for the final development feasibility study, expected to be complete later this year.
Mondial wins Kia Motors contract
Mondial Assistance Ireland (MAI), which is part of the Allianz group, has won a major new contract with Kia Motors Ireland. MIA will be providing roadside assistance to Kia's Irish customers. This breakdown service is offered by Kia as part of its customer care package.
£100m for firm begun by refugees
Patak's, a curry sauce, ready meal and Indian bread business founded by Kenyan refugees who arrived in Britain with just £5 in their pockets, has been sold for more than £100 million to Associated British Foods.
Established in 1957 by Laxmishanker Pathak, who realised there was a market in London for Asian food and began producing samosas in the family's small kitchen, Patak's, which is now run by his son Kirit, supplies more than 6,000 Indian restaurants. - (Financial Times service)
Market updated on Dragon survey
Dragon Oil yesterday updated the market on its ongoing three-dimensional seismic survey in the Cheleken Contract Area in offshore Turkmenistan, saying that the group is making good progress and expects to have substantially completed the interpretation of the data by the end of the year.
