50 JOBS AT CORK OUTSOURCING FIRM - Outsourcing of work is controversial. But one company is benefiting. It is called Abtran in Cork and it provides outsourcing services to other companies. This morning Enterprise Minister Michael Martin has announced that Abtran is to create 50 new jobs.
Founder Michael Fitzgerald said Abtran managed contact centres on behalf of large companies and Government organisations. He said expected the outsourcing market to continue growing.
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ENERGY A WEAK SPOT FOR IRELAND - This morning the employers' organisation IBEC has warned that Ireland is more vulnerable that any other country in Europe to an energy crisis.
IBEC director Brendan Butler says there are two major problems. First, there is not enough generating capacity to meet demand growth, pointing out that there were 57 'amber alerts' last year. These alerts mean that there would have been blackouts if any big power station had shut down.
Mr Butler says new stations due to be completed over the next couple of years would provide some relief up to 2008, but after that more capacity would be needed.
The second problem is that we import 90% of our energy requirements. He said Ireland traditionally imported gas from the UK, but now imported it from Russia, leaving the country very exposed in the event of a more serious crisis such as the recent Russia-Ukraine dispute.
Mr Butler said the nuclear option was one worth debating, but there other areas which could be developed, such as renewables and the Corrib gas field. He said Corrib would provide 70% of our gas needs over the next 15-20 years.
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EURO TO RISE FURTHER AGAINST DOLLAR - Bank of Ireland says the euro is set to rise against the dollar. That is because the European Central Bank is expected to continue increasing interest rates. Another quarter-point rise is predicted in March. That means people with variable mortgages will be paying more. This morning the euro is worth $1.21 and 68p sterling.
