SIMTECH AVIATION WINS KEY SMALL BUSINESS AWARD - A flight simulation company - Simtech Aviation - based in Dublin Airport has won the 2008 winner of the National Enterprise Award organised by the County and City Enterprise Boards. The company was set up four years ago and currently employs 12 people.
Simtech's Fergal Keogh says that the company provides flight simulation training in Dublin for international airlines, helicopter companies and the global search and rescue industry. Its clients include CityJet, Aer Arann, Celtic Helicopters, Kenya Airways and Singapore's Tiger Airways. It has also recently signed up two airlines from the United Arab Emirates.
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MORNING BRIEFS - Accountants Deloitte estimate that we are going to spend 5.3% less compared with last year on our Christmas shopping. Deloitte says spending power would effectively be almost 10% lower this Christmas once current inflation at 4.3% is considered. The survey covered more than 650 people here and similar research was carried out around Europe. But the survey also finds that Ireland will retain its top spot as the biggest spending nation in Europe this Christmas, with an average of €1,354 per household.
*** The president of the World Bank, Robert Zoellick, has said the bank estimates world trade will drop next year for the first year since 1982 because of the lack of trade financing arising from the credit crisis. And he said more developing countries were turning to the World Bank for assistance including Mexico, Colombia and Indonesia.
*** Packaging group Smurfit Kappa has reported pre-tax profits of €61m for the three months to the end of September, down from €105.8m the same time last year as the firm continues to see challenging conditions. Revenues fell by 4% to €1.75 billion from €1.83 billion for the three month period.
***On the currency markets, the euro is worth $1.2605 and 81.58 pence sterling.
