Today's other business stories in brief

No Irish named on Liechtenstein list

Information from Germany this week states that no Irish person or company appears on the Liechtenstein list held by the German tax authorities.

The German authorities have advised Revenue that should any business between LGT and an Irish citizen or company come to light during their investigations they will pass the information to the Irish authorities.

Call for 'real jobs' to be protected

The chief executive of Dublin Port Company has called for a reprioritisation of "real jobs", saying that they needed to be "protected and nurtured" in the current economic crisis.

"In the past decade we lost our competitiveness in the real labour market," Enda Connellan said.

"Now that the construction sector, which absorbed many trades, is on its knees, it is imperative that we promote and guard the real jobs that exist in sectors of industry such as ports and in manufacturing and services."

Mr Connellan, who was speaking yesterday at an economic briefing hosted by the company for Irish retailers and business leaders, said that over the past number of years property had diverted focus from the "real trading sector", but that a healthy economy was largely built on trade which created sustainable wealth and jobs.

He also referred to the "hidden" role of Dublin Port, which ensured "efficient delivery of goods to market, keeps prices down and keeps the wheels of commerce turning".

Also speaking was Michael Sheary, chief financial officer of Dublin Port Company, who described the port's role in driving retail business in Dublin.

"Dublin Port directly delivers up to 1.5 million ferry and cruise liner passengers into the heart of the city, spending millions with city retailers each year," Mr Sheary said.

Property prices continue to fall 

The annual rate at which house prices in England and Wales are falling continued to accelerate during October to hit a new record of 10.1 per cent.

The average home lost a further 1.5 per cent during the month to stand at £165,529 (€197,655), according to the British Land Registry. It was the 14th month in a row that the annual rate of growth has fallen.

Inflation in euro zone at 2.1% 

Euro zone inflation plunged in November, boosting chances that the European Central Bank will increase the size of its interest rate cuts next week to aid a rapidly shrinking economy.

Consumer price inflation in the 15-country euro area fell by 1.1 percentage points to 2.1 per cent this month, the Eurostat statistics office estimated.

Market forecasts had centred on a decline to 2.3 per cent.

"There will be further decline in inflation and inflation is likely to fall below 1 per cent in 2009, and it's not ruled out that the year-on-year rate may turn negative," said Jürgen Michels, economist at Citigroup.

"That all gives the ECB ample room for rate cuts. We expect a cut by 75 or 100 basis points in December and further rate cuts next year.

"Our forecast is that the ECB rate will go down to 1 per cent or even lower by mid-2009, Mr Michels said.

Independent in London to move

British newspaper the Independent, which has just cut 90 editorial jobs, is to cut costs further by moving in with the Daily Mail newspaper group.

Parent company Independent News Media says the move from London's Canary Wharf financial district to Kensington in west London would add to recent "cost efficiencies" of about £10 million (€12.03 million) for the paper.

The Independent and the Independent on Sunday papers from January will have their own dedicated office space but will share back-office services with the Daily Mail , the Mail on Sunday, Evening Standard, Metro and London Lite.

Ivan Fallon, chief executive of Independent News and Media (UK), said the titles' prospects would be transformed as the move would "create better and more commercially viable newspapers while staying true to the editorial values we cherish".