Hello and welcome to our daily digest of business, financial and economic news from around Scotland.
1. Europa Oil and Gas is still working on options to bring the Serenity field into production.
The Aim-listed company owns a 25 per cent stake there, with the remainder held by I3 Energy.
An appraisal well was drilled on the acreage last year but did not find hydrocarbons in the Outer Moray Firth. Europa said yesterday that both companies believed a well in the east of the field would be economically viable and that they were looking at options to use existing infrastructure in the area.
2. Plans for a £200 million cable manufacturing factory in the Highlands have been submitted.
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Sumitomo Electric Industries wants to build the plant because of the growing demand for high-voltage subsea cables from the offshore renewables industry.
A 15-heactre site at Global Energy Group’s Nigg yard is to be overhauled.
The planning application suggests that would create more than 150 jobs at the plant, with dozens more across the supply chain.
3. Scottish council pension schemes have about £2 billion invested in the fossil fuel industry, according to research published yesterday.
The data, compiled by Platform and Friends of the Earth Scotland, said that the holdings included stakes in companies such as Shell, BP, Exxon Mobil, Chevron and Equinor.
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The Strathclyde Pension Fund, the single largest Scottish local authority pension fund, was found to have about £618 million in companies with interests in fossil fuels.
The Lothian Pension Fund was said to have at least £350 million of such investments.
4. An electronics manufacturer has increased its annual revenue by 36 per cent £14.3 million.
CB Technology said that it was on course to reach £20 million of turnover by 2025.
The company, based in Livingston, West Lothian, underwent a management buyout in 2015 backed by Maven Capital Partners.
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The business makes and assembles electrical components across the energy, industrial, medical, space and life sciences sectors.
5. A Highlands baker is to open its first shop in Aviemore.
Harry Gow said that the outlet, which is opening today, will be its 18th across the region.
The company also has its products stocked in more than 30 Co-op stores as well as a handful of Asda and Morrisons outlets.
David Gow, a director, said that the bakers at the new store had been trained at its base in the Smithton area of Inverness. Its dream ring products are a favourite of Karen Gillan, the actress.
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6. Scottish Enterprise is still hunting for a permanent chairman for its board after more than a year of searching.
The position has had to be re-advertised after a suitable candidate was not found.
Willie Mackie, a banker and consultant, has been filling the position for the interim since July last year when Lord Smith of Kelvin departed.
