Business World

Monday 19 March 2018

Dragon's new wells are gushing funds

Dragon Oil has completed the two new oilfield development wells in the Cheleken Contract Area in the Caspian Sea, the Dublin-listed energy company said yesterday.

Initial tests show the wells flowing at around a combined 5,900 barrels of oil per day. The company has a cash balance of $1.3bn and no debt.

Factory gate prices decrease 0.2pc

MONTHLY factory gate prices decreased by 0.2pc in February from the same month last year as the cost of bread, computers and medical equipment fell, the Central Statistics Office said yesterday.

Bread and confectionery prices slipped 1.5pc last month while computer, electronic and optical products were down 1pc and medical instruments declined 0.3pc.

The most significant change was an increase in pulp, paper and paper products which rose 1.8pc.

Air travel hit by political instability

The International Air Transport Association (IATA) has said that "extraordinary circumstances" made for a significantly challenging first quarter for the global aviation business this year.

It reckons that political instability in north Africa and the Middle East has directly resulted in a 1pc decline in international passenger and cargo traffic.

Kentz to seek listing on London market

Clonmel-headquartered international engineering services firm Kentz is to seek a listing on the main London market this year, the company confirmed yesterday.

Kentz made its debut on London's Alternative Investment Market in 2008, but said that since then its business had grown considerably and a main market listing was more appropriate.

O2 signs up 15,000 for new prepay card

Mobile company O2 said that over 15,000 people have signed up for its prepay money card since its launch last month. The card can be used anywhere that accepts electronic Visa payments.

O2 said that 77pc of the card users are aged between 18 and 44 and that 60pc of the cards have been bought by men.

Irish Independent

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