Sunday 23 November 2014

In Brief: Kedco gets loan for plant in North

Published 10/11/2012 | 05:00

Kedco, an Irish developer of power from wood and waste, will receive a £1.5m (€1.87) loan from venture capital trusts to complete a biomass plant in Newry.

Kedco signed a non-binding loan agreement through its Newry Biomass joint venture, which it owns with Farmer Business Development, the Cork-based company said yesterday.

Greece 'unlikely' to get funds yet

Eurozone finance ministers are unlikely to release a new tranche of loans to Greece on Monday as there is no agreement yet on how to make its debt sustainable -- but Athens is set to get two more years to cut debt, officials said.

Eurozone finance ministers meet in Brussels where the main topic of their discussions will be unfreezing lending to Greece, held up after Athens went way off track with promised reforms and fiscal consolidation.

Police poised to arrest rate setters

UK police are poised to arrest former traders and rate setters at UBS, Royal Bank of Scotland and Barclays for questioning over their role in the Libor scandal.

The Serious Fraud Office has 40 people working on the probe into manipulation of the London interbank bank offered rate, a benchmark for financial products valued at $360trn (€283trn) globally.

Fears France will slip into recession

France's central bank said it expected the eurozone's second-largest economy to slip into recession as 2012 ends -- a scenario that could make it harder for the government to hit next year's debt-reduction targets.

The Bank of France, which had already predicted gross domestic product would shrink 0.1pc in the third quarter, said yesterday it was now expecting a similar 0.1pc decline in the last three months of 2012 as well.

China's rebound gathering pace

China's economy strode further along the road of recovery from its slowest growth in three years, data for October showed, as infrastructure investment accelerated and output from the country's factories ran at its fastest rate in five months.

The increase in key economic activity indicators last month, after signs of a rebound emerged in September data, cemented the view of analysts that China's rebound was gathering momentum.

Irish Independent

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