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.
Scots IT sector on the rise as cloud computing firm puts down roots
SCOTLAND’S £4 billion IT industry will receive a boost today when a Swedish “cloud computing” company that lists BAE Systems, the Oslo stock exchange and law firm Pinsent Masons among its clients unveils plans to create 50 jobs (Scotsman).
ENERGY & UTILITIES
Shell chief forecasts weakening in oil prices as tensions ease
OIL prices will weaken further in the second half of this year as demand reacts to a slowing global economy, while international political tensions ease, Shell chief executive Peter Voser yesterday forecast (Scotsman).
Scots firm buys US rival to boost overseas presence
SCOTTISH company Integrated Environmental Solutions, which provides software and consulting services to help customers deliver low-energy-consuming buildings and communities, has acquired North American sector stablemate BVM Engineering in a £1 million-plus deal (Herald.
FOOD, DRINK & AGRICULTURE
Scotch whisky firm, Diageo, to invest £1bn
The drinks giant Diageo has announced it is to invest £1bn in Scotch whisky production over the next five years. The company said it would build a new distillery in the Speyside area and would draw up plans for a second if the global appetite for Scotch continues (BBC).
Pipeline company wins 10-year Qatargas deal
North-east pipeline engineering company STATS Group has landed its biggest contract to date – a multimillion-pound Middle Eastern deal with Qatargas. The 10-year agreement with the largest liquefied natural gas producer in the world involves providing remote pipeline isolation equipment (P&J).
Steadying food inflation rate set to help shoppers
FOOD prices stabilised last month as the cost of raw materials and crude oil declined, providing some relief to under-pressure consumers. Today’s latest shop price index shows the UK’s annual food inflation rate holding steady at 4.3 per cent in May, unchanged from April’s figure (Scotsman).