Scotland's Economy

Scottish Business Buzz (08.02.17)

Most sectors in the construction sector are set to grow 

According to a report by Construction Skills Network (CSN), all sectors within the construction industry apart from the infrastructure and industrial sectors are set to grow in the next five years. In total, 12,000 jobs are expected to be required to meet the increasing demands from the industry.

Sectors that are expected to expand are the housing sector, with public housing (1.1%) and private housing (2.0%). Repair and maintenance of buildings is expected to grow on average 1.1% per year.

The infrastructure and industrial sectors have shown a decrease in their growth after a record high period. Their projects are now reaching completion, such as the Queensferry Crossing, which is the primary reason for these sectors’ downturn in growth.

Glasgow start-up company, Global Rugby Network lands a deal in Uruguay 

The Glasgow based start-up tech company, Global Rugby Network (GRN) seals its first deal with a large international rugby union in South America – the Uruguayan Rugby Union.

Dave Millar, former Glasgow Warriors player and founder of GRN has developed a technology that facilities rugby players and their team to better understand how they are playing. By collecting data such as free kicks, conversions and tries the technology using video analysis capability can track games and each players individual performance.

GRN’s technology is currently being prepared for the Uruguayan forthcoming domestic season.

With the deal, GRN will also be the headline sponsor in Uruguay’s top rugby league. As a result, the league has changed its name to Torneo Clasificatorio de Primera Copa Global Rugby Network.

In response to this, Mr Millard said to the Herald; “To be seen as the headliner for their national division is a big thing, especially for a small company like us here in Scotland. It shows the opportunities that are out there if we get it right.”

Experts have met in Scotland and India to discuss £10 trillion opportunity in water technology

Last week, a group of experts within water technologies gathered for the international water summit in
Bangalore, India.

This gathering was part of a series of collaborations between experts within water technology that work in governments, corporations and SMEs around the world. The programme had its first meet-up last year in Edinburgh with a two and a half day congregation which was primarily backed by the Scottish Government and Scottish Development International (SDI).

The aim of the programme is to develop an eco-system that is able to tackle water challenges such as access to water and water sanitation. The Business and Sustainable Development Commission has estimated that this form of progress within water technologies will present a £10 trillion opportunity and create 380 million jobs by 2030.

Barry Greig, a senior policy adviser at the Scottish Government Water Industry Team who attended the gathering in Edinburgh highlighted that Scotland can benefit from these form of collaborations as it brings in new ideas. With this, Scotland will have the opportunity to immerse itself into this market opportunity.

Israeli based Dalek Group buys £518 m stake from North Sea operator Ithaca Energy 

The Israel based energy company bought 20% stake in Itacha Energy in 2015, followed by a recent increase in its shareholding with a cash takeover offer.

Dalek Group has suggested to purchase Ithaca with 120p per share. This will value their equity at
$646m and their enterprise value at $1.24 billion.

The law firm Pinsent Masons have advised Ithaca Energy on the takeover bid – a firm that previously has consulted on the disposal of other North Sea infrastructure assets such St Fergus gas terminal.

About the author

Rhona Middler

Rhona was Business for Scotland's Engagement Executive and Events Manager.

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