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PROVIDENCE Resources said the second and final tranche from the sale of its 6.7pc stake in the Aje field offshore from Nigeria has been completed. The sale is the last part of the group's restructuring programme which also involved the sale of its Gulf of Mexico properties. Separately, BlackRock Investment Management has upped its stake in the company to 10.13pc. The firm now holds 5,087,190 ordinary shares. Providence lost 2.59pc to close at €6.59 in Dublin.
World Bank to decide on president
APPOINTMENT
THE World Bank will meet on Monday to decide which of three candidates will be its 12th president. This comes after a historic campaign that saw the first serious challenge to US leadership of the institution. Though US nominee Jim Yong Kim remains the odds-on favourite to win, Nigerian finance minister Ngozi Okonjo-Iweala and Colombian Jose Antonio Ocampo have transformed what is normally a US coronation into a fully-fledged battle of succession.
Tipperary Water beating the tide
drinks
THE company behind Tipperary Water increased profits marginally last year, despite the wider problems in the drinks sector. M&J Gleeson, better known as the Gleeson Group, recorded profits to €4.8m in the year to the end of June 2011, up from €4.5m the previous year. The company operates through 21 subsidiaries including alcoholic drink distribution, the Tipperary Water brand and units manufacturing cider, soft drinks and ice-pops, including Bavaria beer and Devil's Bit cider. The company said the on-trade alone is down by close to a fifth since 2007.
Irish airspace flights down 1.2pc in a year
AVIATION
The total number of flights across Irish airspace fell 1.2pc in March compared to March 2011, according to figures from the Irish Aviation Authority. Commercial flights at Dublin were down 3.6pc, fell 8pc at Cork and were 3.9pc lower at Shannon in March compared to 12 months ago. There was a 2.3pc increase in Ireland's en-route air traffic, which counts flights that don't actually land in Ireland.
Irish Independent
