Business News

Noonan set to fire starter on €3bn AIB sale

30th May 2017

Allied Irish Banks (AIB) will begin its journey back to privatisation this week as the Government prepares to officially launch a €3bn share sale in a watershed moment for the banking industry and the economy. It is almost seven years since taxpayers sunk €20.8bn into the then-stricken bank as part of a wider rescue of […]

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Pharma company MSD Ireland announces 330 new jobs for Cork and Carlow

30th May 2017

MSD, a multinational pharmaceutical company, has announced that it will create 330 new jobs and invest €280m over the next three years at two of its Irish manufacturing sites in Cork and Carlow. The new jobs are as a result of increased global demand for MSD’s medicines and vaccines produced in Ireland. The investment will […]

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€60m available for job creation in regional development fund

29th May 2017

Up to €60m is being made available for projects aimed at job creation in a new regional development fund. Funding will be provided by the Department of Jobs through the State development agency Enterprise Ireland. The move, which is being launched by Minister for Jobs, Enterprise and Innovation Mary Mitchell O’Connor TD and Minister of […]

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Pay freezes predicted despite country’s economic growth

28th March 2017

Labour costs in Ireland are rising at one of the slowest rates in the EU despite the country’s strong economic performance. Ireland is currently the fastest-growing economy in western Europe, yet the latest data from Eurostat shows that wage costs in the country rose by just 1.1pc in the last three months of last year. […]

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‘Strong evidence’ Ireland aiding EU banks’ tax-avoidance schemes

28th March 2017

Ireland is one of the countries “leading the race to the bottom” in the facilitation of global tax avoidance, according to a new report from charity group Oxfam. Oxfam said there “is strong evidence” that Ireland is aiding significant corporate-tax-avoidance schemes for European banks. In a report titled ‘Opening the Vaults’, researchers at Oxfam, in […]

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Irish firms in top five UK foreign business owners

28th March 2017

Irish-based companies are among the biggest foreign owners of UK firms, ahead of Japan and well ahead of rising powerhouse China. More than one-in-four of the UK’s most important businesses are foreign owned, according to figures from the UK’s Office for National Statistics (ONS). The data shows as many as 24,145 UK businesses are owned […]

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Price of Dublin semi-D surging again at same rate as in boom years

27th March 2017

The price of an average semi-detached house in parts of Dublin is inflating as fast as in the boom years and the period immediately before the Central Bank introduced its lending restrictions two-and-a-half years ago. Prices in North County and South County Dublin both increased by 5.6pc in the three months since December, while Dublin […]

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Public sector pay ‘outstrips private workers by 40pc’

27th March 2017

Public sector workers get paid 40pc more on average than their private sector counterparts, a report claims. By contrast, in the UK public sector pay is almost on a par with the private sector, with Ireland’s public/private pay gap high by European standards, the paper states. The study by Davy Stockbrokers argues that any future […]

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The UK triggering Article 50 will soon be forgotten – then the hard negotiations start

27th March 2017

On Wednesday, the UK prime minister is scheduled to ­’trigger’ Article 50 of the Treaty on European Union to announce to the 27 other EU member states that the UK intends to leave the union. It will be no surprise. On June 23 last a majority of voters in the UK and Gibraltar voted in […]

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Ireland joins China-led Asian bank in bid to boost links

24th March 2017

Ireland’s application for membership of the China-led Asian Infrastructure Investment Bank (AIIB) has been formally approved. Ireland is one of 13 applicants to the new Beijing-based international financial institution whose membership was approved yesterday. It is the first time the AIIB has welcomed new members since it inception, the multilateral financial institution said. The approved […]

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