Shannon Development plans to develop a network of e-towns throughout the region to promote the use of the internet and new technology, it said yesterday.
The development agency will team up with local authorities in four areas to develop the towns, which will offer broadband connectivity and community training and development.
Four towns that will take part in the programme include: Miltown Malbay, Clare; Cappamore, Limerick; Newport, Tipperary; and Tarbert, Kerry. A fifth town in Offaly will be added in 2005.
Investment in the physical construction of each e-town, starting with Miltown Malbay, is estimated at €3-€4 million, which will be funded through a public-private partnership.
Flextronics dims market optimism
Flextronics International, the world's largest contract electronics maker, says earnings in the three months to September may fall short of the most optimistic market forecasts, casting a pall over the outlook for Asian rivals.
The downbeat forecast came as analysts expect demand for mobile phones, notebook computers and consumer gadgets to taper off in the second half of the year.
Singapore-based Flextronics, which is in the process of taking over the manufacturing operations of Nortel Networks, including its Belfast plant, swung to a net profit in its fiscal first quarter from a year-ago loss, after cutting costs and seeing strong demand for mobiles, but said the US economy may not be as strong as some had anticipated. - (Reuters)
Sixth Framework funds go begging
Irish software firms are missing out on millions of euro in funding available from the EU for strategic development, the Irish Software Association said yesterday.
The lobby group, which is an affiliate of IBEC, said there was little evidence that Irish firms had tapped into millions of euro of EU funding that is available.
It said lack of awareness of the funding provided through the EU's 6th Framework Programme and the bureaucratic nature of the programme may be preventing Irish firms from applying.
Demand drives oil prices higher still
Oil prices were higher yesterday, with benchmark US crude trading above $42 a barrel for the first time since June 2nd, supported by concerns that robust world demand is stretching supplies to the limit.
The August contract of US light crude, due to go off the board at the end of Tuesday's trade, was up 36 cents at $42 a barrel, mostly on position adjustment buying ahead of its expiry, traders said. - (Reuters)
Alitalia gets loan lifeline from EU
The European Commission yesterday formally approved a €€400 million government emergency loan for Alitalia, the struggling Italian flag-carrier.
Brussels said the money would have to be lent at market rates and repaid within one year. It added that Rome had to present either a liquidation plan or a restructuring plan for the loss-making company within six months.
Any restructuring must not, however, involve fresh government subsidies since the carrier had already benefited from state aid in recent years. Under EU law, companies can only receive subsidies once per decade.
The Commission decision throws a lifeline to the long-suffering operator, although Alitalia still faces an uphill struggle.
Unless the company and the government in Rome can convince Brussels this year that the carrier has a viable future, Alitalia faces liquidation.
