Director of Circle Oil steps down
OIL and gas exploration, and development company, Circle Oil, announced yesterday that Ramadan Aburawi, a non-executive director, has resigned. Circle also appointed Ezzedin Hamyouni as a non-executive director. Mr Hamyouni is the chairman of Libya Oil Holdings, which holds a 24.05pc equity interest in Circle.
UK raises spectre of hyperinflation
THE Bank of England's deputy governor, Charles Bean, yesterday raised the spectre of hyperinflation, saying it is "severely misguided" to hope that a rise in prices would help Britain out of its predicament. His comments come amid growing suspicion that politicians around the world may eventually resort to inflation as a means of reducing what they owe in capital markets.
Pre-tax profits at SIAC fall to €5m
BUILDING contractor SIAC has reported a sharp fall in pre-tax profits for last year. SIAC Group said its turnover fell more than 30pc to €282m, while pre-tax profits were down just over 40pc to €5m. Chief executive Finn Leyden said, however, that SIAC was "very pleased" with its performance, given the economic downturn.
EasyJet flew 7.9pc more passengers
BRITISH budget airline EasyJet carried 7.9pc more passengers in May year on year, despite volcanic dust disruption, and said it would trial an infrared ash detector to limit future stoppages. EasyJet flew 4.26 million passengers in May, up from 3.95 million the year before.