Business

Wednesday 30 July 2014

Belfast airport sold to US firm

Published 23/07/2013|04:00

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BELFAST International Airport has been sold by its Spanish owners to a US firm.

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The sale by Abertis to Texas-based ADC & HAS Airports Worldwide is part of a €284m acquisition package that also includes Stockholm's Skavsta Airport and the company's management business in the US. The deal will not affect day-to-day operations at the airport.

DEUTSCHE BANK TO CUT BALANCE SHEET

GERMANY'S biggest lender, Deutsche Bank, is expected to announce plans to reach a minimum 3pc overall equity-to-loans ratio in the next two-and-a-half years.

The bank is set to cut its balance sheet by 20pc to €1trn by the end of 2015 to comply with tougher rules that are expected to require banks to use more equity capital to fund their business, the 'Financial Times' said. The plans, which are expected to have a very small impact on earnings, include new regulatory rules for the accounting of derivatives, reducing the bank's cash pile of €240bn and cutting down its €90bn assets in its non-core unit, the report added. Deutsche Bank declined to comment on the matter

ENTERPRISE IRELAND LINK TO 169,451 JOBS

ENTERPRISE Ireland client companies employed some 169,451 staff in 2012.

Data from the agency's annual report show that almost 800 Enterprise Ireland clients were involved in "significant" R&D projects greater than €100,000 and a record 134 companies are engaged in R&D projects with a spend of more than €1m. Enterprise Ireland chief executive Frank Ryan was paid a little more than €213,000, including a basic salary of €199,000.

PCH SIGNS DEAL WITH VERDE LED

PCH International, the Irish-headquartered product development and supply chain company, has signed a partnership with Verde Led to install an energy-efficient lighting programme in one of PCH's Shenzhen-based manufacturing facilities as well as PCH's new US headquarters due to open shortly in San Francisco.

The deal is said to "significantly" reduce energy consumption by 60pc, reduce carbon dioxide emissions by 270 tonnes per year in Shenzhen, and will have an economic payback of two years. "This is a great example of how Irish innovation can have an impact in global markets," said PCH chief executive Liam Casey.

Irish Independent

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