IRISH BUSINESSES EXPLORE SOUTH AFRICAN OPPORTUNITIES - The Irish trade delegation to South Africa is winding up its schedule today. In the last few days, some Irish businesses have been exploring new opportunities unique to South Africa as the World Cup approaches while others have been looking at older problems on the continent.
Michael O'Donovan, of Cork based Audit Diagnostics, is finalising contracts with South African firms for his field medical laboratory systems. He told RTE's Political Correspondent David Davin Power in Johannesburg that there is huge potential yet to be tapped in African healthcare markets. Mr O'Donovan said he had talked to a company with 7,500 clinics who feel the Audit Diagnostics product would be right for them immediately. He says one could multiply the likes of that company by six or seven times if one takes the whole sub-continent into account.
Mr O'Donovan says the Cork company has been operating in Africa for some years, but are now developing new products with the African market in mind.
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S3 IN DEAL FOR MOBILE TELEVISION BROADCASTING - Also making deals in South Africa on the Enterprise Ireland-led trade mission is Irish consumer technology firm S3. It has signed a deal with South African Pay-TV operator MultiChoice to provide a platform for mobile television broadcasting.
S3's John Maguire says that the multi-million deal is with the African equivalent of Sky or NTL who focus on delivering television into millions of homes in South Africa. He says the S3 software will now enable them to bring TV services onto people's mobiles and other portable devices. He says the company will be hoping to capitalise on the forthcoming World Cup in South Africa and says that sport in Africa in general plays a large factor in their lives.
He says that Africa poses a great opportunity for S3 - as all developing countries do with their lack of fixed line infrastructure as would be found in Europe and the rest of the developed world. Multichoice also have operations in 47 other countries and Mr Maguire says that the Irish company hopes to work further with Multichoice around the world.
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MORNING BRIEFS - Fresh from his supposed €35m Aer Lingus share purchase last week, property developer Liam Carroll is now thought to be behind activity in housebuilder McInerney's shares. It is thought Carroll has bought a 2-3% stake in McInerney.
*** Elan and Biogen have won US approval for the wider use of their MS treatment Tysabri. They are now able to market it for the treatment of the bowel disorder Crohn's disease. The drug already is sold for multiple sclerosis with tight restrictions and a strong warning about a potentially fatal brain infection. US authorities say the companies must put similar limits on sales for Crohn's disease.
*** Ireland has been ranked the world's third freest economy in a yearly index published by the US based Heritage Foundation. Western European countries, including Switzerland, the UK and Denmark, accounted for half of the top 20 rankings. But Hong Kong was ranked the world's freest economy for the 14th year in a row, followed in second place by Singapore.
*** Europe's antitrust regulator has opened two new investigations into claims that Microsoft has abused its dominant market position.
*** Speculation is increasing that struggling British lender Northern Rock will be taken over by the British government as the bank owes an estimated £24 billion sterling. Today it faces shareholders at an extraordinary meeting in Newcastle this morning.
*** The world's biggest financial organisation Citigroup is expected to announce 4,000 more job cuts, a steep cut in its dividend, and further investment from foreign investors.
*** An Bord Pleanála has granted the Dublin Airport Authority permission for a €55m extension to the existing terminal at the airport. Work on the 7,500 square metre project will begin next month and its expected to be finished by summer 2009.
