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In brief: Ryanair launching new Budapest route

Ryanair is launching a new service between Dublin and Budapest in Hungary from April.

Boss Michael O'Leary says the carrier's business "is booming" and growing faster than planned as other airlines suffer from economic difficulties and high fuel costs. The company releases results next Monday.

Talks held on sale of Treasury loans property

TALKS on a sale by NAMA of €900m of loans owed by Treasury Holdings continued last night. The State's toxic bank is understood to be in talks with two potential investors, Hines Real Estate and Macquarie, about a sale of the loans. Treasury Holdings lined up the bidders after NAMA demanded repayment of the loans by 4pm today. NAMA can extend its repayment deadline if executives think a deal is close to being finalised.

Tullow plans new production for 2013

TULLOW Oil, the London-based explorer, expects to start production from Uganda next year, said chief executive Aidan Heavey. "First oil will probably be 2013," he said. "It will start off quite small with supplies to local power stations, that's about 2,000 barrels of oil a day." Tullow is waiting for government approval to sell one-third of its stake in Uganda's Lake Albert oil fields to Total and Cnooc. The agreement is expected to be signed "very shortly", he said. (Bloomberg)

Fraud trial delayed as Williams falls ill

THE trial of two men accused of organising a £740m (€888m) fraud against AIB has been delayed after one of them was taken ill. The jury hearing the case against Achilleas Kallakis and Alexander Williams was yesterday told that Mr Williams had been hospitalised. The two accused men have denied 21 charges including conspiracy to defraud, fraud, forgery and money laundering. The trial is set to restart tomorrow.

Irish Independent