Industry & Business

Economy

Ireland boasts active M&A sector despite global uncertainty

    Ireland boasts active M&A sector despite global uncertainty

The first six months of 2017 have proven to be a dynamic period for Ireland’s merger and acquisition (M&A) market and it is clear that Ireland continues to be an attractive destination for international investment. This is according to the mid-year William Fry Mergers & Acquisitions Review 2017, in association with Mergermarket, which was published […]

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2017 Young Chartered Star announced

    2017 Young Chartered Star announced

A young accountant will represent Chartered Accountants Ireland at the ‘One Young World’ conference in Bogotá, Colombia, later this year after winning the ‘Young Chartered Star’ 2017 competition. Sinead Fox Hamilton ACA will represent the Institute at the prestigious international conference from 4 – 7 October 2017, along with other representatives of the Chartered Accountants Worldwide […]

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UK Brexit paper welcome, but major challenges remain – Ibec

    UK Brexit paper welcome, but major challenges remain – Ibec

Ibec has welcomed the aim of the UK government to avoid customs checks on the island of Ireland and develop streamlined or new customs arrangements with the EU in two new Brexit position papers. However, the group cautioned that a UK departure from the EU customs union would present very serious challenges to achieving these […]

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Food companies encouraged to ‘Think Digital’

    Food companies encouraged to ‘Think Digital’

Bord Bia has announced a partnership with the Digital Marketing Institute to offer Irish food and drink companies an opportunity to grow and develop their online presence with a view to increasing brand awareness and sales. ‘Think Digital’ is a 6-month digital marketing programme available to all Irish food and drink companies designed specifically to address […]

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OSi and CSO launch new Census website on Esri Ireland’s digital mapping platform

    OSi and CSO launch new Census website on Esri Ireland’s digital mapping platform

Geographic information services company, Esri Ireland, has announced that Ordnance Survey Ireland (OSi) and the Central Statistics Office (CSO) have launched a new website on its ArcGIS Open Data digital mapping platform. The new website, available at http://census2016.geohive.ie/, presents data gathered during Census 2016 in a clear and legible way and aims to make geographical and […]

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Entrepreneurship in Ireland at pre-recession levels with 35,000 new business owners in 2016

    Entrepreneurship in Ireland at pre-recession levels with 35,000 new business owners in 2016

One in every 23 people in Ireland (aged 18-64 years) is a new business owner, according to the Global Entrepreneurship Monitor (GEM) 2016 Survey of Entrepreneurship in Ireland which was published today. These figures are similar to the US and high compared to European countries.
Enterprise Ireland, supported by the Department of Jobs, Enterprise and Innovation, […]

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Irish consumer sentiment remains positive in July

    Irish consumer sentiment remains positive in July

Irish consumer sentiment held broadly steady in July as an improved buying climate, likely boosted by summer sales and holiday spending plans, contrasted with a more cautious assessment of household finances. At current levels, the survey paints a reasonably positive picture of Irish economic conditions but also continues to highlight concerns about consumers’ personal financial […]

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New record For Dublin Airport with 3m passengers In July

    New record For Dublin Airport with 3m passengers In July

Dublin Airport welcomed more than 3.1 million passengers in July, which was a new monthly record for the airport and a 6% increase on the same period last year. July was the first time in the airport’s 77-year history that more than three million passengers have been facilitated in a single month.
A total of 3,121,469 […]

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Medium sized enterprises most satisfied with government

    Medium sized enterprises most satisfied with government

ISME has published the results of its latest Government Satisfaction Survey, showing that SMEs overall satisfaction with the Government experienced another improvement on the previous quarter. The Association welcomes the fact that this is the second overall improvement this year. Business costs still remain the biggest issue for SMEs, along with Government’s handling of the […]

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Tourism Minister briefed on Brexit in London

    Tourism Minister briefed on Brexit in London

In a recent visit to London, Minister of State for Tourism and Sport, Brendan Griffin met with the Tourism Ireland team, where he was briefed on the organisation’s 2017 promotional programme and the possible implications on travel of the decision by the UK to leave the EU.
Great Britain is a vital market for tourism to […]

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UK firm to take over 10% of Dublin Bus routes

    UK firm to take over 10% of Dublin Bus routes

UK bus company Go-Ahead has been announced as preferred bidder for 10% of Dublin bus routes after winning a tendering competition by the National Transport Authority. The company is expected to begin operating some of the 24 routes by the end of November 2018 and all routes by February 2019.
Dublin Bus also submitted a tender […]

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Ibec forecasts strong economic growth & employment increases

    Ibec forecasts strong economic growth & employment increases

Ibec has published its latest Quarterly Economic Outlook, which forecasts growth of 4.2% for 2017 and 3.2% in 2018. A strong labour market, in particular, will underpin the buoyancy of the domestic economy, but Brexit related trading challenges will remain for exporters. This will be a particular challenge for the regions, with Ibec analysis showing […]

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Mid-year review of overseas tourism 2017

    Mid-year review of overseas tourism 2017

Official CSO figures for the first half of 2017 confirm growth of +4.2% in overseas visitors to Ireland, 182,000 arrivals more than the record first half of 2016. At the recent mid-year review of overseas tourism, Minister for Transport, Tourism and Sport, Shane Ross and Tourism Ireland CEO, Niall Gibbons, confirmed that this growth has […]

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Minister Doherty urges new fathers to claim Paternity Benefit

    Minister Doherty urges new fathers to claim Paternity Benefit

As the first anniversary of the introduction of paternity benefit approaches, Social Protection Minister Regina Doherty has launched an awareness campaign to encourage new or expectant fathers to apply for the two weeks payment from her Department. Employed and self-employed fathers with the correct PRSI contributions are entitled to receive paternity benefit.
Paternity benefit is available […]

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Growing costs undermining retail recovery – Retail Ireland

    Growing costs undermining retail recovery – Retail Ireland

Retail Ireland, the Ibec group that represents the retail sector, has highlighted growing concern amongst retailers that the sector’s competitive position is being undermined as costs increase. In its latest Retail Monitor, the group identified particular concerns regarding Government controlled costs such as commercial rates, the minimum wage, and levies attached to utilities.
Retail Ireland Director […]

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Brands must offer more to build loyalty with younger customers

    Brands must offer more to build loyalty with younger customers

A new study from technology specialist Ricoh Ireland has highlighted generational differences in customer service expectations. Older age groups are revealed as being less forgiving of brands, while younger customers expect far more information at the consideration stage, along with deep post-sales interaction to build lasting brand relationships. The survey of 3,600 consumers was conducted […]

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Companies not taking advantage of stable environment to plan for Brexit

    Companies not taking advantage of stable environment to plan for Brexit

The latest quarterly (April – June 2017) InterTradeIreland Business Monitor Report, shows that, despite the UK voting to leave the EU 12 months ago, the proportion of companies with a plan in place to deal with the potential outcomes of Brexit has remained static at 2 per cent. Alarmingly, this figure only increases to three […]

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€3.5M govt fund to support community health projects

    €3.5M govt fund to support community health projects

The Minister for Health, Simon Harris TD has welcomed the recent announcement from the Department of Rural and Community Development of the approval of the 2017 Dormant Accounts Action Plan. Additional funding of up to €3.46 million is being made available to the Department of Health in the period 2017-2019 to support a range of […]

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IDA Ireland confirms strong pipeline in financial services sector following Brexit

    IDA Ireland confirms strong pipeline in financial services sector following Brexit

IDA Ireland has confirmed significant investments in the financial services sector in the first half of 2017.  Over 15 global financial institutions have announced their intentions to set up or expand their operations in Ireland since January.
Commenting on the performance CEO of IDA Ireland Martin Shanahan said: “It has been encouraging to see so many high profile […]

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Minister of State announces eGovernment Strategy 2017-2020

    Minister of State announces eGovernment Strategy 2017-2020

Patrick O’Donovan, Minister of State for Public Procurement, Open Government and eGovernment, has announced the publication of the eGovernment Strategy 2017-2020.
The new strategy has been developed to build upon the first eGovernment Strategy (eGovernment 2012-2015) with the aim of succinctly setting out the next phase for eGovernment in Ireland. The Strategy focuses on 10 key actions […]

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Global shares to create 80 new financial technology jobs in West Cork and overseas

    Global shares to create 80 new financial technology jobs in West Cork and overseas

West Cork based Global Shares, a leading global provider of share plan administration software, share-dealing, global custody and financial reporting tools has today announced the creation of a further 80 new jobs due to rapid global expansion, bringing its total global employee base to 228.
The new positions, some of which are supported by the Department of […]

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Minister Murphy approves further 70 Rapid Build Homes in Dublin City

    Minister Murphy approves further 70 Rapid Build Homes in Dublin City

Eoghan Murphy, Minister for Housing, Planning and Local Government, has approved the construction of 70 rapid delivery houses at three locations in Dublin City.  The houses will be built in Cherry Orchard, Ballyfermot (53 units) and in Rathvilly Park (13 units) and Woodbank Drive (4 units), Finglas.
The houses will comprise 39 three bedroom units and […]

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BioMarin expands facility to manufacture medicine for rare genetic diseases

    BioMarin expands facility to manufacture medicine for rare genetic diseases

Simon Coveney, Minister for Foreign Affairs and Trade, has officially opened a new expansion at BioMarin Pharmaceutical Inc. in Shanbally, Co Cork. BioMarin has recently extended its site footprint to 20 acres as the company continues to experience a rise in the global demand for its therapies to treat rare genetic diseases that mostly affect […]

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SME lending market remains highly concentrated

    SME lending market remains highly concentrated

According to the latest Central Bank SME Market Report for the first half of 2017, the SME lending market remains highly concentrated, despite continued reduction in the bank concentration of new lending flows. The market share of the three main lenders in new lending flows is currently 82%.
The report also provides information on credit demand, […]

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Over 4.2% growth in overseas visitors for January-June 2017

    Over 4.2% growth in overseas visitors for January-June 2017

Commenting on figures published by the CSO for overseas visitors to Ireland for January to June, Niall Gibbons, CEO of Tourism Ireland, said: “I am pleased to see growth of +4.2% for the period January-June, coming on the back of a record performance in 2016 and years of solid growth in overseas tourism. It is encouraging […]

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Money and progress critical for ambitious Irish millennials

    Money and progress critical for ambitious Irish millennials

EngageSmith has announced its EngageSmith Millennial Workplace Survey that tracks Irish millennials’ attitudes to work and career on a quarterly basis. This is the first edition of the new survey and reveals that 62% of Irish millennials view career progression opportunities as the most important factor in the workplace, while 57% see salary as most critical, bucking […]

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“Propeller Shannon” Start-Up Accelerator at Shannon Airport launches

    “Propeller Shannon” Start-Up Accelerator at Shannon Airport launches

Minister of State for Trade, Employment, Business, EU Digital Single Market and Data Protection, Pat Breen has launched the Propeller Shannon start-up accelerator programme, supported by Enterprise Ireland to further enhance the aviation and the aerospace start-up ecosystem within Ireland.
The Propeller Shannon start-up accelerator, a partnership between Shannon Group’s International Aviation Services Centre (IASC), DCU […]

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Dublin Port trade volumes increase 2.9% in first six months of 2017

    Dublin Port trade volumes increase 2.9% in first six months of 2017

Dublin Port Company has published its latest trade figures showing half-year growth of 2.9%, putting Dublin Port on track for a third successive record year. Overall, volumes in Dublin Port have grown by 28.8% in just five years.
Growth was driven by exports which were up by 4.4% with imports ahead by 1.9%. The first half […]

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40 new roles at Queens Uni as EU puts €9m into major energy hub

    40 new roles at Queens Uni as EU puts €9m into major energy hub

A new ‘virtual centre of competence’ is being created at Queens University in Belfast, after the EU’s INTERREG VA Programme pumped money into further bioenergy research. Billed with supporting cross-border research into bioenergy and marine-based renewable energy sources, the hub will see the creation of 40 new roles.
The €9.3m project will focus on heat, biogas […]

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New initiative for Irish SMEs

    New initiative for Irish SMEs

Crowe Horwath has partnered with Dublin Chamber to create the ‘Pinnacle Programme’, an initiative targeted at businesses with a turnover of at least €1 million and employing 10 or more staff.
The programme aims to support the leaders and owners of Irish SMEs in building lasting value in their businesses ensuring they achieve their full potential. […]

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Resources for Budget 2018 €400 million more than estimated

    Resources for Budget 2018 €400 million more than estimated

Ibec has called on the Government to show further ambition in meeting Ireland’s critical infrastructure and demographic needs. Launching the group’s Budget 2018 submission, Ibec said that the Government has more within its power to spend on investment in much needed infrastructure, education and training, if it so chooses.
Speaking at the launch of the submission, […]

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Bord Gáis Energy Index drops 7% in June, as oil, gas and electricity prices continue to fall

    Bord Gáis Energy Index drops 7% in June, as oil, gas and electricity prices continue to fall

The Bord Gáis Energy Index fell 7% in June and is 5% lower than the same period last year. June saw a broad drop in wholesale energy markets as oil, gas and electricity all registered falls – coal was the only exception with a 2% gain. A stronger euro over the month versus both sterling […]

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NCC publishes Ireland’s Competitiveness Scorecard 2017

    NCC publishes Ireland’s Competitiveness Scorecard 2017

The National Competitiveness Council has published its annual benchmarking report, Ireland’s Competitiveness Scorecard 2017. The Scorecard provides a statistical assessment of Ireland’s competitiveness performance with regard to a range of countries with which we compete for trade and investment.
Based on the analysis herein, the Council finds that many facets of Ireland’s competitive performance continued to […]

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ISME calls on employer representatives on the LPC to resign

    ISME calls on employer representatives on the LPC to resign

ISME, the Irish Small and Medium Enterprises Association, has called on the three employer representatives on the Low Pay Commission to resign from it. According to the Association, it fully supports the points raised by them in their dissenting opinion to the Commission’s recommendation. However, since the LPC has departed from its terms of reference […]

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‘Ireland’s stability seen as a strength in an uncertain world’

    ‘Ireland’s stability seen as a strength in an uncertain world’

Address by Martin D. Shanahan CEO, IDA Ireland at the MacGill Summer School
Uncertainty is the “mot du jour” or more accurately the “mot de l’année”. It pervades the global, the political, the economic, and the business environments and it is to the forefront of the minds of investors. This uncertainty is driven by geo-political developments, […]

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SFA criticises recommendation for 30c increase in minimum wage

    SFA criticises recommendation for 30c increase in minimum wage

The Small Firms Association (SFA) has criticised the recommendation of the Low Pay Commission for the National Minimum Wage to increase to €9.55 per hour.
Linda Barry, SFA Acting Director, stated: “Two-thirds of SFA members plan to give pay rises this year, but increases will be based on the performance of the individual worker and the […]

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HireUp wins in Enterprise Ireland Competitive Start Fund competition

    HireUp wins in Enterprise Ireland Competitive Start Fund competition

A new Irish company HireUp is solving a big problem for companies that are spending huge sums every year on recruitment fees. Hiring talent is a costly business with traditional recruitment agencies charging up to 30% of a first year salary. Experience and proven ability are attributes that are always in demand and especially now […]

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Irish Exporters Association elects first female President

    Irish Exporters Association elects first female President

The Irish Exporters Association (IEA) has announced that Nicola Byrne, Founder of 11890 Directory Inquiries and Cloud90, is the President of the Irish Exporters Association. Nicola takes over the IEA Presidency from Paschal McCarthy who has served as IEA President since January 2016. Nicola is the organisation’s first female President since its establishment in 1951.
Simon […]

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UK top destination for professionals leaving Ireland

    UK top destination for professionals leaving Ireland

According to new data released by LinkedIn, the UK remains the top destination for professionals leaving Ireland, despite the country’s intention to leave the European Union. The level of movement between both countries did fall, however, with approximately 26% of all talent leaving Ireland opting for the UK between October 2016 and April 2017, compared […]

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Underlying growth in Irish economy remains robust

    Underlying growth in Irish economy remains robust

Ibec, the group that represents Irish business, welcomed the publication of new national accounts published today by the CSO which show that the economy continues to grow strongly despite the challenges of Brexit. GDP in Q1 2017 grew by 6.1% annually, reflecting strong leading indicators. There are some worrying elements to the figures, however, with […]

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Unilever Foundry launches in Ireland

    Unilever Foundry launches in Ireland

Unilever has announced a new partnership between its global startup collaboration platform, Unilever Foundry and Dogpatch Labs, Ireland’s leading startup hub. The Unilever Foundry is a platform for startups and innovators to engage, collaborate and explore business ideas with Unilever and its 400+ brands. This partnership will provide a clear path for Irish startups to […]

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Beazley plc to establish European insurance company in Dublin

    Beazley plc to establish European insurance company in Dublin

Insurance firm Beazley plc is to establish a European insurance company in Dublin. The company, which is an IDA Ireland client, will increase its European business from its Irish base. In order to expand its access to EU markets, Beazley plc has been granted a European insurance licence for its existing reinsurance company in Dublin. […]

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Retailers call for reform of local authority rates system

    Retailers call for reform of local authority rates system

Retail Ireland, the Ibec group that represents the retail sector, has launched a new policy paper entitled ‘Tackling the rates burden’. The paper highlights the serious deficiencies in the current system governing how local authority rates are levied and collected from retailers, resulting in over €200 million in uncollected rates each year. The retail sector […]

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Nearly 1,900 new company start-ups a month in first half of 2017

    Nearly 1,900 new company start-ups a month in first half of 2017

According to Vision-net.ie, new figures show that nearly 1,900 new company start-ups (1,878) were formed, on average, each month in the first half of 2017. This is an increase of 6% compared to the same period last year.
With the exception of June, company start-ups were up every month compared to 2016—including by almost 20% in […]

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Sharp increase in jobs saved through examinership

    Sharp increase in jobs saved through examinership

New data released to mark the end of the second quarter of 2017 has shown a sharp increase in jobs protected in examinership cases as businesses in Ireland face increasing uncertainty. The latest Baker Tilly Hughes Blake Examinership Index revealed that 112 jobs were saved through the examinership corporate recovery mechanism in the second quarter […]

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Dundalk’s first SuperValu to open this autumn

    Dundalk’s first SuperValu to open this autumn

SuperValu has announced the creation of over 40 jobs at a new SuperValu store in Dundalk. Due to open in Autumn this year, the 17,600 squ feet store will be located in a new retail development at the former Fairways Hotel Site in Dundalk.

A further 70 jobs will be supported during the development’s construction phase. […]

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Ireland is fifth most open economy globally

    Ireland is fifth most open economy globally

According to ICC Ireland, Ireland is currently ranked fifth in the International Chamber of Commerce (ICC) Open Markets Index highlighting the importance of international trade for the Irish economy.
Commenting on the ICC Open Markets Index, Ian Talbot ICC Ireland Secretary General said: “Ireland ranks fifth globally, an improvement of one place since the last publication of this […]

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2% of British businesses support a ‘no deal’ negotiation option

    2% of British businesses support a ‘no deal’ negotiation option

One month on from the General Election, the British Chambers of Commerce (BCC) has published a post-election survey of over 2,400 companies, which shows that while businesses have a range of views on their preferred objectives for the UK in Brexit negotiations, there is almost no support to conclude UK-EU talks without a trade deal.
Asked […]

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Applications open for Innovation Arena at the National Ploughing Championships 2017

    Applications open for Innovation Arena at the National Ploughing Championships 2017

Applications for the National Ploughing Championships Innovation Arena and Awards, in conjunction with Enterprise Ireland and the Irish Farmers Journal, are now being accepted with the deadline extended to the 15 July 2017. Irish agri companies are invited to apply to showcase their products and innovations at the heart of the NPA Innovation Arena at […]

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Public Health (Alcohol) Bill will slash advertising revenue to Irish media by €20m

    Public Health (Alcohol) Bill will slash advertising revenue to Irish media by €20m

Economist Jim Power has published a report entitled ‘The Potential Impact on Irish Media of the Public Health (Alcohol) Bill 2015’, which was commissioned by media owners. The Public Health (Alcohol) Bill 2015 seeks to introduce widespread restrictions to the advertising of alcohol in Ireland. This includes restrictions on the content of advertisements and advertising […]

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Tánaiste welcomes agreement on landmark new trade deal with Japan

    Tánaiste welcomes agreement on landmark new trade deal with Japan

Tánaiste and Minister for Enterprise and Innovation Frances Fitzgerald and Minister for Trade Pat Breen have welcomed the milestone in achieving progress on the EU new trade deal with Japan which will bring great benefits to Ireland.
The Tánaiste welcoming the landmark deal said: “Together with the EU- Canada Comprehensive Economic and Trade Agreement, today sends […]

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Success of Horizon 2020 showcased in Brussels

    Success of Horizon 2020 showcased in Brussels

Enterprise Ireland and Science Foundation Ireland, on behalf of Ireland’s national support team for Horizon 2020, hosted a breakfast meeting this week for Irish research leaders in Brussels ahead of the European Commission’s conference “Research & Innovation – shaping our future”.
This event was an opportunity to highlight the success to-date of Ireland’s participation by researchers […]

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HBAN wins at European Business Angel Awards Annual Awards 2017

    HBAN wins at European Business Angel Awards Annual Awards 2017

HBAN, the all-island group responsible for the promotion of business angel investment in Ireland, today announces that it won the Best Business Angel Week Award at the EBAN (European Business Angel Network) Gala Dinner Awards Ceremony held inMálaga, Spain on Thursday, 8th June.
HBAN, a joint initiative of InterTradeIreland and Enterprise Ireland, won the prestigious European accolade based on […]

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Entrepreneurs need level playing field to generate jobs, innovation and regional growth

    Entrepreneurs need level playing field to generate jobs, innovation and regional growth

At the National Economic Dialogue in Dublin Castle, the Small Firms Association has (SFA) called on Government to introduce measures in Budget 2018 to encourage entrepreneurship and business formation.
Linda Barry, SFA Acting Director, stated: “We need entrepreneurs and owner-managers to create jobs, drive innovation and boost the vibrancy of our regions. Yet government policy continues […]

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Recognising the achievements of Ireland’s Champions of EU Research

    Recognising the achievements of Ireland’s Champions of EU Research

Minister of State for Training, Skills, Innovation, Research and Development John Halligan and Julie Sinnamon, CEO of Enterprise Ireland presented outstanding achievement awards to academic researchers, companies and research organisations that have reached the pinnacle of European research at the ‘Ireland’s Champions of EU Research’ event which took place on the 28th of June.
Sixteen individuals […]

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Cyber attack hits IT systems in Ireland and UK

    Cyber attack hits IT systems in Ireland and UK

Several organisations including big business and government offices in eastern Europe have been hit by a worldwide cyber attack. It has been reported that companies in Ireland may also have been affected, with computer systems at shipping group Maersk failing across regions including Ireland. Danish, British and Spanish multinationals have also been hit by the […]

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Dublin Living Wage Initiative launched

    Dublin Living Wage Initiative launched

The Lord Mayor of Dublin, Brendan Carr, has launched the Dublin City Council Living Wage Initiative at the Mansion House, Dawson Street, Dublin. The initiative recognises businesses which pay a Living Wage of €11.50 per hour, to their permanent employees, by granting them permission to display a Dublin Living Wage Plaque at the entrance to their […]

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Dublin Airport and Enterprise Ireland launch tender competition

    Dublin Airport and Enterprise Ireland launch tender competition

Dublin Airport and Enterprise Ireland, have launched a competition for firms to research and develop potential new solutions to address the challenges of wildlife activity on the airfield at Dublin Airport. Through the Small Business Innovation Research (SBIR) open tender initiative, applicants are encouraged to look at the use of smart, low cost and innovative […]

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