The problems facing the Irish export sector have expanded beyond the pharmaceutical patent cliff according to Davy’s stockbrokers’ analysis of the latest industrial production figures.

Ireland’s trade surplus was largely unchanged in May at €3.45 billion, despite a 7% rise in exports during the month.

Ireland’s inflation rate for June was 1.7% higher than Jun 2011, but 0.1% lower than in May 2012 and 0.2% lower than in April of this year. On a monthly basis prices were down 0.2%, according to figures released by the CSO.

Economists remain upbeat about the manufacturing sector after another strong month of growth.

The level of decline in household lending levels was broadly unchanged in May, down by 3.9% on a year-on-year basis against a 4% annualised fall in April.

INDEPENDENT News & Media has made a €79m profit on its €21m investment in mobile phone information streaming provider iTouch.

MOBILE phone ringtone, competition line, horoscope and general content provider iTouch has hit a profits groove.

FOOD and agri group IAWS is considerably undervalued by the market and is set to deliver 17-18% earnings per share growth this year, according to an analyst.