EU, US INTERVENTIONS SPARK SLIGHT EURO RALLY - The euro has rallied on this morning after it fell to a four-year low against the dollar last night. That fall was caused by fears that the sovereign debt crisis in parts of the euro zone could spread.
The rally has been helped by two interventions. In Europe, the EU President, Herman Van Rompuy, said member states had agreed in principle on the need to place national budget strategies under greater scrutiny before they are seen by national parliaments. In the US the Federal Reserve chairman Ben Bernanke said European leaders were committed to the survival in the euro.
***
VALUE ADDED IN AFRICA LAUNCHES NEW PRODUCTS - Fair Trade has been one of the most successful new brands in recent years and an Irish charity is hoping to build on that.
Value Added in Africa is launching a range of African goods this morning. Its director Conall O Caoimh said the four ranges of goods included natural soaps and beauty products, lager from Kenya and some cloth gift products from Mombasa.
***
AOL TO ADD 50 DUBLIN JOBS - AOL plans to recruit 50 people over the next two years in Dublin for its Dublin Development Centre. Managing director of AOL global operations Aengus McLean says the jobs will be highly technical, mainly for development engineers.
There will be 23 immediate full-time vacancies, and 12 contract positions.
Mr McLean says AOL has noticed a pick-up in the technology sector in Ireland. The company is also moving its operations to Dublin city centre, and says it has secured a great deal on rents because of the downturn.
***
CURRENCIES - The euro is trading at $1.1950 and 82.5p sterling.
