NEW CABLE "A DIGITAL TRANSPORT SYSTEM" - Sea Fibre Networks has started laying an €11m sub-sea cable between Ireland and the UK - the first cable of its type in 11 years.
Sea Fibre Networks chief executive Diane Hodnett describes the cable as a digital transport system.
She says the current cables connecting Ireland were all built before 2000, and are coming to the end of their life.
The Sea Fibre Networks cable runs from Eastpoint Business Park in Dublin to Holyhead. Ms Hodnett says it will support the growth of companies such as Google and Intel and the burgeoning gaming industry.
She says a cable with 12 fibre pairs was adequate in 1998/99, but its cable will now have 72 pairs of fibre.
Ms Hodnett says it was "horrendously difficult" to raise funds for the project. The company has been trying to raise funds for the past 18 months, but eventually succeeded, helped by US private equity and some debt financing from Investec.
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MARKETS AND CURRENCIES - In Asia, we saw markets down 1.25% on average this morning. On the currency markets, the euro hit a ten-week low of $1.3160. It has also dropped below 85p sterling to 84.5p.
