In Short

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

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

Examiner for Mobileaware

An interim examiner was appointed to Dublin software company Mobileaware by the High Court yesterday.

The firm's software enables mobile operators to provide information services such as news, ringtones, videos and other content to subscribers.

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The firm has contracts with Denis O'Brien's Caribbean mobile operator Digicel and the Middle East's largest telecom company, Saudi Telecom.

Accountant Tom Kavanagh of Dublin firm Kavanagh Fennell has been appointed interim examiner to the firm, which has offices in the UK and the US.

Past investors in Mobileaware include Cross Atlantic Capital Partners and Bank of America Capital Partners.

The company made a loss of €1.8 million in the year to March 31st, 2006, bringing its retained losses to €18.3 million.

Appointment at Collins Stewart

Stockbroker Collins Stewart has appointed former Bank of America executive Paul Fitzgerald to the role of chief operating officer in its new fund management operation in Dublin.

In his former role at Bank of America Securities, Mr Fitzgerald ran the firm's European equity prime brokerage middle office business.

His appointment follows the hiring of former Bank of Ireland Asset Management executive Ivan Fox as director of fund management.

Dodge Mining increases stake

Phelps Dodge Mining has increased its stake in mineral exploration company African Eagle Resources as part of an earn-in agreement signed by both firms last year.

The latest share subscription, which comprises more than 4 million ordinary shares equivalent to a value of $1 million, brings Phelps Dodge Mining's stake to 4.76 per cent.

RaboDirect posts new rates

Online bank RaboDirect has announced new interest rates for demand and term savings accounts.

From January 1st, 2008, the bank is altering the previous tiered structure for demand accounts, meaning that balances up to €1 million will attract a variable rate of 4.30 per cent and those over €1 million will earn 3.95 per cent.

AIB passes on higher costs

AIB is the latest Irish bank to pass on the higher borrowing costs in the wholesale money markets, caused by the international credit crunch, to its customers with increases in mortgage and overdraft rates.

The bank's standard variable rate for owner-occupiers will increase by 0.15 per cent to 5.25 per cent, while the variable rate for buy-to-let investors will rise by 0.15 per cent to 5.45 per cent.

Overdraft rates for personal and business customers will increase by 0.25 per cent.

The bank's personal "A" overdraft rate is rising to 12.95 per cent, while the business "AA" overdraft rate is increasing to 10.7 per cent. The increases will take effect from close of business on January 15th.

Permanent TSB and Ulster Bank/First Active have also increased the rates on some of their mortgages in recent weeks.

Aviation regulator to levy charges

The aviation regulator Cathal Guiomard said yesterday that he plans to levy charges of €4.5 million in 2008 to cover the costs of running the office. This is slightly ahead of the €4.46 million it levied in 2007.

The charges will be paid by nine airports around the country; Irish-registered airlines; travel agents and tour operators; the Irish Aviation Authority; and ground handling operators.

The biggest contributor will be the Dublin Airport Authority, which is slated to pay €2.8 million next year. The regulator said the DAA would be allowed to recoup some of this outlay in airport passenger charges.