Business

Saturday 2 August 2014

€56m invested in 84 start ups

Published 19/07/2013|04:00

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FUNDS supported by Enterprise Ireland ploughed €56m into 84 high-growth Irish start-up companies last year, a quarter more than the year before. The investments were made under Enterprise Ireland seed and venture capital programmes, whose 2012 report has just been launched.

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The organisation said there has been a continuing increase in venture capital funding being made available to meet the urgent need for capital over the past 19 months. It has invested about €320m into 40 Irish seed and venture capital funds over the past 19 years.

TREASURY BILLS WORTH €500M SOLD

The Government has sold another batch of three-month treasury bills, the second last sale before the country leaves its bailout programme. The €500m worth of three-month government bonds were sold at an annualised interest rate (yield) of 0.20pc.

The same amount was sold in June, for the same yield, though demand this week exceeded the June sale. Bids totalled €1.818bn, more than 3.6 times the amount on offer, compared with €1.46bn or 2.8 times the amount on offer last month.

FLAT PROFITS YEAR FOR AEROSPACE

The international aerospace and defence industry is likely to generate flat profits this year after delivering the third consecutive year of record revenue and profit in 2012, according to a report from PricewaterhouseCoopers.

The sector reported its best ever year in 2012 thanks to the strength of a surging commercial aviation market.

BARNA WASTE BUYOUT APPROVAL

Court-appointed examiner Neil Hughes of Hughes Blake presented a scheme of arrangement prepared on behalf of the directors of Bruscar Bhearna Teoranta, trading as Barna Waste to the High Court.

The scheme was approved, resulting in the successful buyout of Barna Waste Group.

FLY LEASING HAS €500M ARSENAL

Fly Leasing, the New York-listed Dublin-based aircraft leasing company, has a $650m (€500m) arsenal to make purchases between now and the end of the year, chief executive Colm Barrington has told the Irish Independent.

The increased firepower comes after it raised $150m on the stock market this week.

Irish Independent

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