UTV, which owns Cork’s 96FM, saw revenue at its Irish radio division fall 4% in the first six months of the year to £11 million (€12.4m).

IRISH oil and gas exploration company Petroceltic has seen its first-half pre-tax losses widen to just under $5 million (€3.9m), from just over $2m for the same period last year.

BANK OF IRELAND refused to comment yesterday on whether or not it is planning a major rights issue in the coming months, nor on whether it may or may not need further state funding.

THE Government should create a bad bank for property loans and introduce a zero capital gains tax rate for business investments.

ORIGIN Enterprises, in which IAWS holds a 71.4% stake, has bought Masstock Group for a total of £61 million (€81.78m) which includes £30m (€40m) of debt.

FALLING oil prices look set to lower EU inflation and may cause rates to peak at 3.75% in the New Year.

ONE of the country’s leading economists says the economy has the ability to grow by 5% a year for the next 10 years.

HIGH-VALUE jobs are being replaced with an increasing number of unskilled positions, according to figures published yesterday by the Central Statistics Office (CSO).

TWO former Elan executive directors, who resigned last year when the company was besieged over its accountancy policies and the share price fell dramatically, are still receiving full pay, sharing a €2.17 million pay package in 2002.

CENTRAL Bank vigilance on lending for house purchase has been fully backed by a leading estate agent as fears over a house price bubble grows.

Shares in AIB slumped by 20% on both the Dublin and London stock exchanges in early trading today in response to the news of a fraud investigation at AIB subsidiary Allfirst.