Saturday 21 October 2017

Reilly welcomes ruling on BUPA

HEALTH Minister James Reilly welcomed a High Court decision to dismiss a case taken by British health insurance company BUPA against the State.

BUPA had been looking for damages after the Supreme Court ruled in 2008 that new health insurance companies operating here would have to give a portion of their profits to the VHI because the VHI has many elderly customers. BUPA later pulled out of Ireland. Dr Reilly said: "The judgment rejects the BUPA case in its entirety and determined that no liability arose under Irish or European law."

German industrial orders fall by 1.9pc

INDUSTRIAL orders in Germany, Europe's biggest economy, declined unexpectedly in January as demand for its exports dropped sharply.

The economy ministry said that orders were down 1.9pc compared with the previous month. Economists had expected a rise of 0.6pc, following a gain of 1.1pc in December.

Plane firm income soars to $47.6m

FLY Leasing, the aircraft leasing business whose chief executive is Aer Lingus chairman Colm Barrington, said its net income for 2012 soared to $47.6m (€36.5m) last year from $1.01m a year earlier.

Its operating lease revenue last year climbed 63pc to $376.4m. The company has a fleet of 109 aircraft, 40 of them Boeing 737s.

Aer Lingus weighs up leasing deal

AER Lingus said no decision has yet been made on possible plans to lease four Boeing 757s that would be deployed on its routes to the US.

The airline said that it is evaluating the business case. "Our transatlantic schedule for 2014 will not be finalised until June of this year, at the earliest," it said.

Bankers' pay report for Cabinet

A REPORT commissioned by the Government on bankers' pay is expected to go before Cabinet within weeks. The Dail's Public Accounts Committee heard that the study by Mercer is with Finance Minister Michael Noonan.

The report is believed to have been completed late last year, and publication has been expected for some time.

Circle Oil begins pumping in Egypt

Circle Oil said it has successfully completed the drilling of its latest Egyptian well. The firm said it struck 29 feet of net pay in the well at the Al Amir field and it has now started production.

Irish Independent

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