Scottish Business Briefing - Friday 5 March, 2010

Published on Friday 5 March 2010 08:38

WELCOME to scotsman.com's Scottish Business Briefing. Every morning we bring you a comprehensive round-up of all news affecting business in Scotland today.

ECONOMY

Thaw sends average house price back over the 200,000 barrier

HOUSE prices in Edinburgh are on the rise again after the "big freeze" which gripped the UK triggered a new year slump. The average price of a home in the city is just 405 more than two years ago, according to figures released yesterday – but, crucially, it rebroke the 200,000 barrier in February, up 1.7 per cent on the previous month. Last month's average of 200,126 was also up 2.8 per cent on the same period in 2009, as estate agents reported a surge in properties being put on the market since the turn of the year.

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ENERGY & UTILITIES

Aggreko increases investment to plug into more emerging markets

AGGREKO, the Glasgow-based temporary power provider, has increased investment plans by 20 million this year, after winning a string of major international contracts in February. The FTSE-100 company, which will provide power for the broadcasting of this year's World Cup, reported a 28.7 percent rise in pre-tax profits for 2009 to 246.5m, and a 25 per cent increase in its total dividend to 12.6p. The rise came despite a fall in demand from most western economies, in particular Europe and North America.

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Scottish and Southern cuts bills

Scottish and Southern Energy will cut its gas bills for domestic customers by 4% from 29 March, the company has announced. The average annual household bill will drop by 30 as a result, the energy provider said. The move comes a month after British Gas cut its standard household gas prices by an average of 7%, and others are expected to follow suit. The changes come after a period of lower wholesale costs.

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BANKING & INSURANCE

RBS middle managers to pocket 5% pay rise

THOUSANDS of RBS staff are to be given a 5 per cent increase in salary, backdated by more than a year, after the part-nationalised bank conceded defeat over its decision to scrap an annual bonus scheme. Covering "managerial staff", the deal, which was explained to workers this week, is understood to cover 16,000 RBS employees, including thousands at its Gogarburn headquarters

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FOOD, DRINK & AGRICULTURE

Distiller claims state has let down industry

The company responsible for rejuvenating the Tullibardine whisky distillery has recorded "a welcome profit" – but a director and founder of the business has lambasted politicians for "neglecting and victimising" one of Scotland's biggest export industries. Tullibardine, which is based in the Perthshire village of Blackford, has reported a profit of around 131,000 for the year to the end of May 2009 – which, according to founder Doug Ross, was "less than the year before, but anything that's positive during a global economic downturn is good".

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TECHNOLOGY

Pinnacle on top form to seal data deal for major events

PINNACLE, the Scottish telecoms minnow, has won a key contract to provide telephone and data services to some of the UK's largest outdoor events, including T in the Park and the Chelsea Flower Show. Aim-listed Pinnacle said its Solwise Telephony unit has been awarded the contract, worth an estimated 150,000. Other events included are Glastonbury and T4 on the Beach. Solwise recently provided services for the NME Music Awards and the New Year fireworks display on the Thames.

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Scotsman Business Club

Get to the heart of the issues affecting Scottish business at www.scotsman.com/businessclub. Features include blogs from The Scotsman's formidable team of business writers - including Bill Jamieson, Martin Flanagan, Peter MacMahon and Scott Reid, a diary of forthcoming company announcements and networking events and video interviews with leading business experts covering a wide range of useful topics."

Scotsman Conferences

Following the successful launch of Scotsman Conferences at Edinburgh: The Next Five Years on 22nd February, the debate is moving on with two new events. On 24th May Can the Green Economy Deliver for Scotland, in partnership with Scottish Enterprise, will investigate whether the green economy can deliver the tens of thousands of jobs promised. The conference will be followed by the announcement of The Green List, a roll-call of the environmental heroes who are making a genuine difference to Scotland.

Then, on 1st June, Shopping for Growth, in association with the Scottish Retail Consortium will examine the challenges and opportunities that lie ahead for the retail sector which accounts for 10% of the Scottish workforce.

Find out how Scotsman Conferences can bring you and your organisation to the heart of the debate at www.scotsman.com/conferences.