IN THE PAPERS
In the papers 26 November
26-11-2007
by Stephen Errity
Alphyra shareholders expected to shelve share sale plan | Online gambling on the rise in Ireland
According to the Irish Times, EU science and research commissioner Janez Potocnik will tell government ministers in Dublin on Monday that backtracking on its ambitious plans to boost research and development funding would damage Ireland's economic prospects. In an interview, Potocnik praised the Government's research policy, in particular efforts to boost industry spend on R&D and moves by universities towards specialisation, but he said Ireland remained below the European average on R&D spending. "You have to be patient and be consistent and you have to constantly support this sector in at least a period of time that would mark the change seriously," he said.
The paper also says that shareholders in Irish e-payments group Alphyra are expected to decide on Monday to shelve plans to sell up to EUR150 million worth of shares in advance of its planned merger with Cardpoint. Shareholders are believed to have revised their decision to sell the shares in recent days in light of the current volatility of stock markets. Alphyra is planning to merge with Cardpoint to form a new company called Payzone, which will be listed on the stock market.
The Irish Independent notes that ThirdForce and Care UK have been named as the winners of two top e-learning awards at the third annual e-Learning Awards in London. ThirdForce's development of e-learning materials for regulatory compliance and training management was singled out for awards, including the category of achieving the most tangible return on investment from an e-learning project.
The Financial Times says the UK government will put renewed pressure on telecoms companies to invest in ultra-fast broadband networks, warning that the UK economy could suffer if they do not. Stephen Timms, the competitiveness minister, has called companies including BT, Virgin Media, BSkyB, Vodafone and Carphone Warehouse to a summit meeting on Monday to discuss building a network that would allow consumers to download music, films and other material over the internet at much higher speeds than at present.
According to the Wall Street Journal, Dubai International Capital has bought a "substantial" stake in Japanese electronics giant Sony, the latest in a series of investments by the Middle Eastern investment fund in major global businesses. DIC did not disclose the size or value of its newly-acquired holding, and it did not say whether it will seek representation on Sony's board. Earlier this year the fund bought a 3.12 percent stake in European Aeronautic Defence & Space and took a stake valued at about USD1 billion in UK bank HSBC Holdings.
The Sunday Independent reports that Burst.com, the Californian internet company backed by U2, suffered a collapse in its share price last week to just USD0.30. The fall came as the company received a USD10 million payout from Apple as a settlement for a long-running dispute over patents. Burst had claimed that Apple's iTunes music software infringed its patents.
The Sunday Times reports that the number of Irish people using online gambling sites has doubled since September 2006, according to a new report by ComScore. Last month saw 362,000 Irish people visit online gambling sites, a 26.5 percent increase on the same month last year. Overall, 30 percent of Irish internet users make use of online betting and gambling sites.
The Sunday Business Post reports that an Irish subsidiary of VMware had turnover of USD131.5 million this year, up from zero turnover in 2005. VMware International, which sells data storage products to a global market, reported an operating profit of USD3.8 million. The company announced plans to hire an additional 370 people in Cork earlier this year.
The same paper reports on the launch of the website Spa-Ireland.com. The site's founder, Alison Bell, says she hopes it will become a one-stop shop for people using spas in Ireland. The site is an independent venture that provides information and booking services for 25 different spas nationwide.
The paper also reports that Kerry-based remote communications company Altobridge has just signed a deal with telecoms giant Ericsson that will see it expand onto the world stage. Altobridge has recently licensed its local switching technology to Ericsson and Chief Executive Mike Fitzgerald said the 'lucrative' deal was a step towards the company's goal of breaking into the mainstream telecoms market.
The same paper reports on a new start-up telecoms firm, 3PlayPlus, which has recently raised EUR40 million from investors. The company has launched a combined telephone, internet and TV package under the 'HomeVision' brand, which is initially being made available to residential users in the Dublin area. The company is offering one month's free trial of its service, which can be terminated at no cost. Plans are afoot to roll out its offering in other urban areas during 2008.
The paper also says that Martin Murphy, Hewlett-Packard's country manager for Ireland, has called on the government to show greater leadership in delivering a national broadband strategy and to ensure that information and communications technology remains top of its agenda. Murphy warned that Ireland faced a challenge to remain competitive in the global IT arena.
The Sunday Tribune reports that the Department of Justice has signed an EUR18 million deal with a consortium consisting of Accenture, Motorola and Irish firm Daon Biometric Systems for the supply of a new digital fingerprinting system to the Irish National Immigration Service. It is understood that the deal is split into two parts, with EUR7.6 million being paid now and the balance when the system is rolled out. Information from the AFIS (Automated Fingerprint Identification System) database is also to be made available to the Gardai where necessary.
Caped Koala Studios has built a virtual world for kids, combining education and social networking 