US software company Mapics Incorporated is to create 55 new jobs over the next five years with the opening of a technical support and shared services centre in Athlone, Co Westmeath.
Recruitment and operations are under way, with degree and diploma holders expected to comprise the bulk of the workforce.
The Tánaiste, Ms Harney, said the investment places Athlone at the heart of Mapics' global strategy and will make the town more attractive to other IT investors. Athlone suffered a setback recently when online auction company eBay opted to locate in Dublin despite the lure of higher IDA grants if it chose the midlands.
Euro falls against dollar and yen
The euro fell against the dollar and yen yesterday after European Central Bank president Mr Wim Duisenberg said a Group of Seven call for exchange rate flexibility last month was not directed at the euro.
"There was no statement specifically about euro/dollar, that was maybe misunderstood," Mr Duisenberg told reporters on the sidelines of a news conference in Moscow.
Mr Duisenberg's attempt to clarify why the dollar has fallen so far and so fast against the euro seemed to make thin currency markets dispel dollar-bearish sentiment, for now. - (Reuters)
'Irish News' to buy €11m colour press
The Irish News will spend £8 million sterling (€11.4 million) to buy and install a colour printing press at its Belfast offices, it will announce today.
The new Man Roland printing press will have the capacity to publish a 96-page, full-colour Irish News in March 2005.
The Irish News has been printed by Morton Newspapers in Portadown since 2000.
New president at Morgan Stanley
Morgan Stanley yesterday named veteran banker Mr Stephan Newhouse as its next president, making him the point man in its efforts to boost its mergers-and- acquisitions business.
Mr Newhouse, who had been the London-based co-head of the institutional securities division, will succeed Mr Robert Scott, who will retire on December 1st. Mr Vikram Pandit will become sole head of institutional securities.
Company officials and analysts said they doubted the moves had much to do with the question of succession. Mr Phil Purcell, chairman and chief executive, is 60 and has said he has no plans to step down before reaching the retirement age of 65. - (Financial Times Service)
Minco buys Orca Gold in share deal
Minco, the Dublin exploration company, has acquired Orca Gold by issuing 35 million Minco shares, worth 46 per cent of the company's expanded equity. Orca holds silver licences and options in Mexico and is negotiating gold projects in Asia. Mr Roger Turner, a founding director of Orca Gold, becomes deputy chairman of Minco.
