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AirSpeed plans network expansion

AirSpeed Telecom, a Dublin-based company that sells broadband to businesses using radio transmitters, said it plans to invest several million euro to expand its network, writes James Lynch.

The company has already spent €975,000 to build seven transmission sites in Ireland and plans to build one a month. Its clients include RTE and Dairygold.

Businessman gets stay on judgment

A businessman has secured a stay on a €1.1m judgment order made against him at the Commercial Court arising mainly from a loan issued to invest in property in Montenegro.

Bernard Llewellyn, with addresses at Millennium Tower, Charlotte Quay, Dublin, and Lough Allen Lodges, Ramada Hotel Resort, Drumshanbo, Co Leitrim, secured the stay yesterday from Mr Justice Peter kelly after outlining proposals aimed at paying off some of the monies due to Bank of Scotland.

The judge granted the stay to October.

Vodafone snaps up internet operator

Vodafone Ireland has acquired Interfusion Networks Ltd, a Dublin-based tech firm. The firm is a managed IP (internet protocol) network operator.

PetroNeft revises oil output estimates

OIL and gas exploration firm PetroNeft is taking a more conservative approach to production estimates following results from one of its two Siberian oil fields.

Target production was estimated to be between 7,000 and 8,000 barrels a day at the end of March, the company said yesterday.

Pension funds down 2.4pc over month

RETIREMENT funds lost ground again last month, with the average managed fund down 2.4pc for the month. Setanta Asset Managers was the best performing manager, with Merrion propping up the table.

Over the past five years, the average fund is down 1.8pc, but up 1.5pc in the past decade, according to figures from Rubicon Investment Consulting.

Irish Independent