Chamber calls for expansion of PPPs

IRELAND'S infrastructural deficit has weakened its competitiveness and businesses are concerned that the poor exchequer finances will lead to investment cuts.

This is according to Dublin Chamber of Commerce which said in its pre-budget submission to the Department of Finance that the Government should aim to expand use of Public Private Partnerships (PPPs) in these tighter times.

It said there are people all around Ireland looking for secure investments, similar to SSIAs.

“We believe that people should be able to buy a bond that will help fund productive infrastructure with a strong return for the individual and economy,” the chamber said.

Alitalia takeover set for November

Rome: Alitalia’s bidders seek to operate the new company by November 1.

Rome-based Alitalia will stop burning cash after the CAI group of Italian investors completes a takeover and will break even in 2011, Intesa Sanpaolo chief executive Corrado Passera told newspapers.

Intesa designed the government-backed rescue plan for the carrier.