PETRONEFT has reported its first pre-tax profit, adding that recent exploration success could boost group reserves by at least 50%.

Irish oil and gas exploration and production company Petroneft has today announced a 36.8% increase in assessed reserves.

PetroNeft Resources has today announced that it has signed an Initial US$5m (€3.7m) debt facility with Macquarie Bank Limited.

Property advisory firm DTZ boosted recovery hopes in the sector today after seeing better levels of activity in its key markets of London and Paris.

OIL and gas exploration company, Providence Resources has returned to profit ahead of a busy year of potentially lucrative drilling activity.

Providence has released it's end of year trading statement for 2007, highlighting a number of key developments.

MACQUAIRE Bank has appointed Colin Hunt as division director, responsible for its Irish corporate advisory activities.

Airline Partners Australia, the private equity consortium that failed in its AUS$11bn(€6.7bn) takeover bid for Qantas Airways, says it will not renew its offer.

The dramatic takeover attempt for iconic Australian airline Qantas collapsed today after the private equity firm bidding for the group admitted defeat.

AUSTRALIA’S takeover regulator has scuttled an A$11 billion (€6.64bn) bid for Qantas Airways after refusing yesterday to allow late support from a major shareholder who missed a deadline to accept the offer.

Australian national carrier Qantas Airways said today it had accepted a €6.7bn takeover offer from a private equity consortium including the country’s Macquarie Bank and the Texas Pacific Group.

Spanish construction company Grupo Ferrovial said today that it sold its 50% stake in the UK’s Bristol Airport to Australia’s Macquarie Bank for £106m (€157.1m), while postponing the planned sale of a stake in Sydney Airport.

A strong performance from oil stocks and a flurry of takeover activity buoyed the London market today which finished a steady week in the black.

The London market looked to end the week in positive territory today stoked by a strong performance from oil stocks and takeover activity in the second tier.

Catering giant Compass is to sell its travel services operation which includes the Upper Crust and Moto chains for £1.82bn (€2.6bn).

AUSTRALIA'S Macquarie Bank is poised to team up with Spain's Grupo Ferrovial SA to launch a hostile bid for British airports operator BAA plc.

Lloyds TSB and advertising giant WPP set a blistering pace today during a strong end to the week for London’s leading shares.

PROVIDENCE RESOURCES have announced it has agreed a €50m revolving credit facility with Macquarie Bank.

Exploration company Providence has agreed a €50m revolving credit facility with Macquarie Bank to fund the acquisition of new production and/or the development of both existing and new projects.

London stocks ended the week in lacklustre form today after a major share sale sent oil heavyweight BP lower.

The London Stock Exchange today dismissed a £1.48bn (€2.2bn) takeover proposal from an Australian bank as derisory and lacking any commercial sense.

The FTSE 100 Index made further gains today despite softer oil prices weighing heavily on energy stocks.

THE battle for control of the London Stock Exchange (LSE) could jump into life this week after the Australian bank leading the chase appointed Goldman Sachs as financial advisor.

The FTSE 100 Index made a lacklustre start to the week today despite takeover talk boosting the telecoms sector.

The battle for the London Stock Exchange intensified today when an Australian bank confirmed it was mulling over a takeover bid.

AUSTRALIAN group Macquarie Bank is understood to be preparing a bid for the London Stock Exchange.

Australian group Macquarie Bank is understood to be preparing a bid for the London Stock Exchange, it emerged today.

The BBC said today it had secured the sale of multimedia subsidiary BBC Broadcast in a deal with an Australian consortium worth £166m (€249m).

The Australian government has announced it has sold a 99-year lease for Sydney airport, Australia’s largest, to an Australian-led consortium for (Aus) €5.5bn (€3.24bn).