rise 'inevitable' The Irish Finance Minister, Bertie Ahern, said at the weekend that a rise in interest rates was inevitable. Market sources said they were expected to climb at least 2 per cent.
'Following the road we are travelling may hurt but it should only hurt in the short term,' Mr Ahern said.
Money market rates in Dublin have soared to 20 per cent in the past two weeks and the punt has come under pressure in the European exchange rate mechanism.
The central bank, which has intervened to support the Irish currency, is expected to raise its key 10.75 per cent short-term facility rate early this week.
British banks and securities firms were the most active among the country's businesses acquiring in Europe during the first half of 1992. In turn, UK financial companies were also the most popular targets. In both cases, 15 cross-border deals were completed in the period, according to a survey by Translink, a corporate adviser.
Foreign investors in Kuwait will have to invest at least 30 per cent of the value of any state contracts they win under an offset programme to be implemented before 30 June. Contractors would be liable to fines of up to 6 per cent of the value of their contract for any breach of the offset rules.
Profit margins in the UK food manufacturing industry have increased from 7 to 7.1 per cent in the past 12 months despite the recession, a survey by the Grocer said.
German consumer prices for Sept and import prices for Aug.
Interims: Greenacre, Joseph Holt How, Linread and Metsec.
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