Construction firm Cala Group has agreed to a new partnership arrangement, which ultimately is a £200m takeover.
The Edinburgh-based firm will see (more…)
Recent analysis by the Scottish government has suggested that the country could be in line for an oil boom over the next five years.
The prediction is made in the SNP’s first Oil and Gas Analytical Bulletin.
The report forecasts that by 2018, oil production in Scottish controlled waters could generate taxable revenue amounting to £57 billion.
The first minister, Alex Salmond said:
“It’s clear that Scottish oil and gas could generate more revenues than has previously been assumed.”
Indeed, the scenarios examined – and based on recent investment and price trends – identify the potential for total revenues over the next six years of between £41 and £57billion.
The forecasts go further still, suggesting that over half of all UK Continental Shelf reserves have yet to be extracted. Over 90 percent of the UK shelf is in Scottish waters.
With commercial finance in Scotland increasing in the industry, Salmond went on to say that oil and gas could effectively fund Scottish independence.
However, opposition parties refuse to accept the findings. They say that the UK’s Office for Budget Responsibility has far lower projections.
The leader of the Scottish Liberal Democrats, Willie Rennie, said:
“In public, the SNP desperately insist the boom years are ahead, but in private we know they are deeply concerned that oil revenues are volatile, unpredictable and falling.”
A recently revealed draft discussion in government showed that there was widespread concern in predicting North Sea oil revenues. It did point to greater stability and control in the country if Holyrood had management of the revenue generated though.
One of the biggest building companies in Scotland returned to profit in the last year, following significant losses in 2011.
Miller Group, which is based in Edinburgh, posted a pre-tax profit of £6.6million in the year. It follows a loss of over £30million in the previous twelve months.
The firm recorded a group profit of £29.2million, 40 per cent ahead of (more…)
The official retail figures for February have shown an increase in sales for a third month in a row, suggesting there could be grounds for (more…)
With the vibrancy of the oil and gas industry in Scotland continuing apace, there has been news of another deal being struck to (more…)
Scottish engineering firms are seeing a fall in orders and a continuing slump in skills available to the industry, according to (more…)
Scottish engineering firms have reported a drop in orders and a continuing slump in skills available to the industry, according to the (more…)
Losses in the book publishing side of the firm has led to a fall in profits at a Scottish publisher, with significant levels of debt and a fall
A Scottish based packaging firm has made 90 redundancies in one of its operations south of the border, following the loss of a major contract.
The unemployment rate in Scotland is continuing to fall, with figures announced at the end of last year showing it is now below the UK average. According to