A round-up of today's other stories in brief
British beef unlikely to hit Irish trade
The return of British beef to the world market should not create major difficulties for Irish exporters who have been growing their markets steadily over the past 10 years, writes Seán McConnell.
While the British industry expects to produce 850,000 tonnes of beef this year, market watchers here say that figure is too high.
The beef industry in the UK has been badly run down over the past 10 years as its main export market, France, was shut off.
For the last number of years, British beef farmers have been hard pressed to service even their own home market and this led to a rise in Irish exports there.
To the end of last year, 260,000 tonnes of Irish beef, 50 per cent of our entire exports, were sent across the Irish Sea.
But with the ending of the system where all animals in the UK over 30 months old had to be destroyed and could not be eaten, there has been a slight rise in production, which is matching demand. Bord Bia estimates that this will lead to a drop of 5 per cent of Irish beef exports to Britain this year and it will be seeking expanded markets in continental Europe.
Mr Dermot Desmond
In an article published on July 10th 2000, concerning the Custom House Docks Development Authority Limited, it was stated that Mr Dermot Desmond was given an option over one of the blocks built at the International Financial Services Centre.
The Irish Times accepts that Mr Desmond was not given an option to purchase and that he supported the project by agreeing to purchase an office block at a time when there was no interest in it. The Irish Times apologises for any distress caused to Mr Desmond by the publication which was unintentional.
Trinity seeks HIV test approval in US
Trinity Biotech is to seek clearance from the US Food and Drug Administration (FDA) to market its rapid HIV test for home use.
The company has written to the FDA requesting a meeting to discuss the conditions under which it might grant marketing clearance for its UniGold HIV test which is to be sold over the counter.
State warned on picking 'winners'
Governments should not try to second guess markets by picking "winners" and providing soft venture capital funds to entrepreneurs, Prof Gordon Murray of the University of Exeter told delegates to InterTrade Ireland's private equity conference in Belfast yesterday.
Governments should not engage in speculative activities or offer downside guarantees. "Anything that reduces the pain of a bad investment decision also reduces the value of due diligence and the benefits of learning," he said.
Reservations at Gulliver top €25m
Fexco subsidiary, on-line Irish tourist booking agent, Gulliver, said total reservations made through the company were worth more than €25 million last year. The company, which operates the leading tourist information and reservation services for Ireland, said volumes were up 16 per cent.
