ENTREPRENEUR AWARD WINNERS NAMED - Terry Clune, founder of Taxback.com, was last night named the 2009 Ernst & Young Entrepreneur of the Year. What started as a student business over ten years ago is expected to have a turnover this year of €90m. It provides services like international payments, processes visas and sets up bank accounts.
Terry Clune says he started the company in 1996, and it now employs 650 staff and locations in 20 countries.
Hugh O'Donnell, managing director of engineering firm Kentz, was named International Entrepreneur of the Year. Kentz builds things for the oil and gas, petrochemical and mining and metal sectors. The company's headquarters is in Clonmel and worldwide it has 10,500 employees in 23 operations.
Mr O'Donnell said Kentz was starting to see very positive signs of recovery in the world economy - with strong growth in China, India and Brazil leading to investment in new projects and higher oil prices. Mr O'Donnell said he thought oil prices would stabilise at current levels, as this was a good price for OPEC and for the consumer.
He said the 'magic number' for Kentz was €170 billion - the amount being invested in energy projects in Australasia, the Middle East and Brazil. Mr O'Donnell said Kentz's target was to win 10% of that.
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NEWS AND MARKETS - Oil prices were mixed in Asia overnight as investors waited for the release of US existing homes sales figures later today for more clues about the state of the US economy. US crude dropped seven cents to $81.12 a barrel, while Brent crude was three cents higher at $79.54.
On the currency markets, the euro is trading at $1.4997 cents and 90.1p sterling.
