Industry & Business

Markets

New products and markets key to export growth

    New products and markets key to export growth

The ESRI hosted a conference this week to launch the findings of a research programme on “Enterprise Exporting, Innovation and Productivity” undertaken in cooperation with Enterprise Ireland and the Department of Jobs, Enterprise and Innovation. Findings from the programme highlights that diversifying export products and markets plays a major role in driving growth for domestic […]

Read Full Article

Brexit talks must deliver free access to UK market says IDIA

    Brexit talks must deliver free access to UK market says IDIA

The Irish Dairy Industries Association (IDIA), the Ibec group that represents the dairy sector, has called for the sector to be a key priority for the Irish government in the upcoming Brexit negotiations.
Speaking after the triggering of Article 50, Irish Dairy Industries Association Director, Conor Mulvihill, said: “Irish diary is the fastest growing agri-food industry in […]

Read Full Article

‘No return to the hard border’

    ‘No return to the hard border’

Theresa May’s letter to trigger Article 50 states that she does not want Brexit to “harm” the Republic of Ireland. The British Prime Minister has included a note on what she sees as the UK’s “special relationship” with Ireland and the importance of the peace process in Northern Ireland.
“The Republic of Ireland is the only […]

Read Full Article

One-third of Dublin’s office stock sold in deals worth €6bn since 2013

    One-third of Dublin’s office stock sold in deals worth €6bn since 2013

A new report from Savills on Ireland’s property investment market has revealed that, since the beginning of 2013, 1.1 million sq m (11.84 million sq ft) of modern office space has changed hands in Dublin. This is equivalent to one-third of Dublin’s entire office stock.
The figure for the city’s Central Business District (CBD) is even […]

Read Full Article

Irish small firms unaware of Brexit dangers

    Irish small firms unaware of Brexit dangers

Many Irish small- and medium-sized businesses are still unaware of the dangers posed to them by Brexit, according to a new report.
The report from the Joint Committee on Jobs, Enterprise and Innovation, is calling for a nationwide campaign to highlight the risks, and of an “early warning system” to identify threatened sectors. It also calls […]

Read Full Article

New Car Sales Down 21 Percent in February

    New Car Sales Down 21 Percent in February

New car registration figures released on Wednesday by Motorcheck.ie show that new car sales in February 2017 have fallen 21% on last year with only 17,015 units sold compared to over 21,552 units for the same month in 2016. This puts the overall new car market for the year to date behind by 8.7% when […]

Read Full Article

February Cost Burdens Rise at Fastest Rate Since May 2011

    February Cost Burdens Rise at Fastest Rate Since May 2011

The rate of input cost inflation accelerated sharply in February, amid higher prices for a range of raw materials, but output charge inflation moderated, according to the Investec Manufacturing PMI report for Ireland, released on Wednesday.
The report found that, overall, business conditions continued to improve in the Irish manufacturing sector during February as new orders rose […]

Read Full Article

Price of Basic Metals Rises 12.1 Percent

    Price of Basic Metals Rises 12.1 Percent

The price of basic metals rose 12.1 % in January while other factory gate prices remained relatively stable, according to figures released by the Central Statistics Office on Wednesday. Total monthly factory gate prices increased by 0.2% in January compared to the previous month, and fell by 0.1 % compared to Janaury 2016.
The price index […]

Read Full Article

European Parliament Approves Trade Agreement with Canada

    European Parliament Approves Trade Agreement with Canada

The EU-Canada Comprehensive Economic and Trade Agreement (CETA), which aims to boost goods and services trade and investment flows, was approved by the European Parliament on Wednesday. The landmark trade deal could apply provisionally from as early as April 2017.
“By adopting CETA, we chose openness and growth and high standards over protectionism and stagnation,” Parliament’s […]

Read Full Article

Record Level of Exports in 2016

    Record Level of Exports in 2016

Exports totalled more than €116 billion in 2016, the highest annual total on record, according to preliminary figures released by the Central Statistics Office on Wednesday. This is an increase of €4.5 billion (4%) over 2015. Imports in 2016 decreased by €507 million (1%) to €69.60 billion compared with 2015 while the preliminary trade surplus for […]

Read Full Article

January Sees “Near-Record” Rise in Construction Employment

    January Sees “Near-Record” Rise in Construction Employment

Activity in the Irish construction sector rose sharply in January on the back of higher new orders, according to the Ulster Bank Construction PMI Report, released on Monday. The survey highlighted a near-record rise in employment as companies responded to greater workloads.
The rate of input cost inflation quickened to the sharpest since February 2007 according […]

Read Full Article

Ryanair Q3 Profit Falls 8 Percent to €95 Million, Traffic Grows 16 Percent

    Ryanair Q3 Profit Falls 8 Percent to €95 Million, Traffic Grows 16 Percent

Irish airline Ryanair reported on Monday that Q3 profits fell 8% to €95 million, as average fares fell by 17% to just €33 per passenger and traffic grew 16% to 29 million customers. Q3 unit costs were cut by 12%. Ryanair also reported that €311 million was returned to shareholders in Q3 under a €550 […]

Read Full Article

“Wake up Ireland – the World has Completely Changed” – Irish Exporters Association CEO

    “Wake up Ireland – the World has Completely Changed” – Irish Exporters Association CEO

“Wake up Ireland – the world has completely changed,” was the clear, warning issued by Simon McKeever, Chief Executive of the Irish Exporters Association, on the challenges arising from Brexit.
“We as a country are looking at Brexit in too narrow a way. Our Government seems completely focused on Northern Ireland to the detriment of other […]

Read Full Article

New Car Sales Down 1.75% in January, Used Imports Surge

    New Car Sales Down 1.75% in January, Used Imports Surge

New car sales in January 2017 have decreased slightly on last year with 39k units sold compared to 39.7k units in January 2016 according to figures released by vehicle history specialists Motorcheck.ie on Wednesday. This represents a drop of about 1.75%. A surge of 5,063 units registered on the last day of the month brought […]

Read Full Article

January Sees 18-Month High for Manufacturing Output Growth

    January Sees 18-Month High for Manufacturing Output Growth

The Irish manufacturing sector remained in growth territory during the opening month of 2017, with both output and new orders increasing at sharper rates, according to the seasonally adjusted Investec Purchasing Managers’ Index (PMI) – an indicator designed to provide a single-figure measure of the health of the manufacturing industry, released on Wednesday.
The survey showed that […]

Read Full Article

ICTU Says UK Prime Minister has Not Addressed Border Uncertainty Facing Workers

    ICTU Says UK Prime Minister has Not Addressed Border Uncertainty Facing Workers

UK Prime Minister Theresa May has done little to address the major uncertainty facing workers across the island of Ireland as a result of Brexit, the Irish Congress of Trade Unions said t the Congress Executive Council meeting on Wednesday.
The ICTU represents almost 750,000 workers across Ireland, including 215,000 workers in Northern Ireland. The discussion […]

Read Full Article

Enterprise Ireland Launches Strategy to 2020

    Enterprise Ireland Launches Strategy to 2020

Enterprise Ireland, the Government agency responsible for developing Irish business globally, launched it’s 2017-2020 strategy on Monday, aiming to increase exports by €5 Billion and to create 60,000 new jobs.
The agency reported that over the period of its 2014-2016 Strategy “Driving Enterprise, Delivering Jobs”, 45,592 new full time jobs were created by client companies. This […]

Read Full Article

Service Sector New Order Growth Sees Five-Month High

    Service Sector New Order Growth Sees Five-Month High

Rates of expansion in the Irish service sector saw a boost at the end of 2016, with new orders, activity, and employment all rising at faster rates and new business from abroad returning to growth, according to the Investec Services Purchasing Managers Index, released on Thursday. The report also showed a marked pick-up in sentiment […]

Read Full Article

Egypt Reopens Market to Irish Beef

    Egypt Reopens Market to Irish Beef

The Egyptian authorities reopened the market there to Irish beef, Minister for Agriculture, Food and the Marine Michael Creed announced on Wednesday.  The agreement provides for the approval of five Irish plants to commence exports to Egypt once the necessary technical arrangements are in place.
Egypt is the largest consumer market in the Middle East and […]

Read Full Article

House Price Inflation May Hit Double-Digit Levels in 2017

    House Price Inflation May Hit Double-Digit Levels in 2017

Irish house price inflation is set to accelerate in 2017, potentially reaching double-digit levels, according to the MyHome.ie property report for the final quarter of 2016.
“Clearly low stock levels will be the main driver of what’s happening in the market and will be for the foreseeable future,” MyHome.ie Managing Director Angela Keegan said. “Our report […]

Read Full Article

Factory Gate Prices Rose 0.9% in November

    Factory Gate Prices Rose 0.9% in November

Monthly factory gate prices increased by 0.9% in November 2016, according to data released by the CSO on Thursday. This compares to an increase of 2.9% for November of last year. The annual percentage change showed a decrease of 0.3% in November 2016, compared with an increase of 1.6% in the year to October 2016.
Price […]

Read Full Article

PwC Predicts Increased Tax Scrutiny for Those Working Internationally

    PwC Predicts Increased Tax Scrutiny for Those Working Internationally

As mobility evolves and more organisations see talent moving internationally, many businesses are facing a growing challenge to understand where in the world their people are working and what they are doing, which can have huge implications for their tax affairs and pose reputational risk, according to PwC’s global survey, Managing mobility in a changing […]

Read Full Article

Northern Ireland Export Orders Rise at Record Rate

    Northern Ireland Export Orders Rise at Record Rate

A record rise in new export orders was signaled as companies benefited from Sterling weakness in November, according to data from the Ulster Bank Northern Ireland PMI. The data also showed that the rate of input cost inflation quickened again and companies raised their output prices sharply. Overall the report indicated that the rate of […]

Read Full Article

Dublin Ranked Fourth Most Attractive City for Property Investment

Photo credit: Hans-Peter Bock hpbock@avaapgh.de
Dublin is the fourth most attractive city in Europe for real estate investment, according to an analysis by PwC and the Urban Land Institute (ULI) released on Thursday. Dublin saw €4 billion of real estate activity in the 12 months before September 2016, putting it behind Berlin, Hamburg and Frankfurt, and […]

Read Full Article

CSO Publishes Statistical Guide to Brexit

    CSO Publishes Statistical Guide to Brexit

The Central Statistic Office released “Brexit: Ireland and the UK in numbers”, on Wednesday, December 7. The publication provides the available figures covering the main areas of Ireland’s engagement with the UK.
“Following the vote by the electorate in the United Kingdom to leave the European Union in June 2016, the CSO decided to compile a […]

Read Full Article

ESRI Publishes Medium-Term Outlook for the Irish Economy

    ESRI Publishes Medium-Term Outlook for the Irish Economy

The Economic and Social Research Unit (ESRI) published a medium-term outlook for the Irish economy on Monday, December 5. Called “Ireland’s Economic Outlook: Perspectives and Policy Challenges”, the research uses a new macroeconomic model, COSMO (COre Structural MOdel of the Irish Economy), developed by the ESRI to determine the potential path of the Irish economy […]

Read Full Article

Retail Property Rents Predicted to Grow 7-10% Over Next Two Years

    Retail Property Rents Predicted to Grow 7-10% Over Next Two Years

Retail property rents are expected to see increases of between 7 and 10 percent over the next 2 year,s according to a new report released by property consultants, Savills Ireland, on Friday December 2.
“Rents in some prime shopping locations have already risen by more than a third over the last three years,“ Director of Research […]

Read Full Article

Ireland’s Prospects Bright, But Uncertain – ECB

    Ireland’s Prospects Bright, But Uncertain – ECB

The European Commission and ECB finished the sixth post-programme surveillance review for Ireland on Friday, December 2, in which they said that Ireland’s economic prospects remained bright, but warned that “some clouds are on the horizon”.
The main objective of review was to assess the country’s capacity to repay loans granted under the former EU-IMF financial […]

Read Full Article

Uncertain Economic Outlook Keeps Irish Consumers Cautious

    Uncertain Economic Outlook Keeps Irish Consumers Cautious

Irish consumers have remained cautious in the face of uncertain economic conditions, contrasting with changing attitudes in other areas, according to the November Consumer Sentiment Index, released by the ESRI on Thursday, December 1.
The consumer sentiment index rose slightly to 97.8 in November, compared with 97.3 in October. However, it remains lower than the 103.1 […]

Read Full Article

Value of Irish Money Market Funds Decreased by €16 Billion in September

    Value of Irish Money Market Funds Decreased by €16 Billion in September

Net asset value of money market funds (MMFs) in Ireland decreased by €16 billion to €444 billion in September 2016, according to statistics on money market funds during the third quarter of 2016, released by the Central Bank on Tuesday, November 29. This decrease was largely driven by devaluations of the Sterling which makes up […]

Read Full Article

Minister Mitchell O’Connor Supports EU Proposal to Prevent Geo-Blocking

    Minister Mitchell O’Connor Supports EU Proposal to Prevent Geo-Blocking

Minister for Jobs, Enterprise and Innovation Mary Mitchell O’Connor attended a day-long meeting of EU Single Market Ministers in Brussels on Monday, November 28, to support the proposal for an EU Regulation to prevent geo-blocking, the practice whereby consumers are charged different prices on websites based on their nationality or the location from which they […]

Read Full Article

Trade Mission to China and Japan Ends

    Trade Mission to China and Japan Ends

A five-day Ttade and investment mission to China and Japan involving 36 Irish companies concluded on Saturday, November 19.  The trip, organised by Enterprise Ireland and IDA Ireland included several meetings and networking events in the cities of Shenzhen, Beijing and Tokyo.
The Department of Jobs,Enterprise and Innovation said that significant leads for several Irish companies […]

Read Full Article

Minister for Employment and Small Business Leads Trade Mission to India

    Minister for Employment and Small Business Leads Trade Mission to India

The Minister for Employment and Small Business and TD for Clare, Pat Breen began a five-day trade mission to India on Tuesday, November 15, according to Enterprise Ireland. The trip, which will see Breen visit Mumbai, Bengaluru and New Delhi, is intended to develop trade and political links between Ireland and India.
The programme of official […]

Read Full Article

CSO Estimates 3.7 Billion Euro Trade Surplus for September

    CSO Estimates 3.7 Billion Euro Trade Surplus for September

Preliminary figures released by the Central Statistics Office on Tuesday, November 15, indicate that Ireland’s seasonally adjusted trade surplus will fall to €3.7 billion in September 2016, from €4.6 billion in August.
The value of goods exported in September 2016 rose by 6% to over €10 billion compared to the previous year, largely driven by a […]

Read Full Article

Flanagan expresses ‘concern’ on claims Dublin is trying to ‘poach’ NI investment

    Flanagan expresses ‘concern’ on claims Dublin is trying to ‘poach’ NI investment

Minister for Foreign Affairs Charlie Flanagan has expressed ‘deep concern’ at comments made by Northern Ireland First Minister and DUP leader Arlene Foster that the Republic was trying to poach business from the North in the “fear and political instability” of the post-Brexit landscape.
Flanagan admitted to making contact with Northern Irish Economy Minister Simon Hamilton for […]

Read Full Article

Extra €52 million to support job creation announced in Budget

    Extra €52 million to support job creation announced in Budget

Amidst talk of childcare support, home buyer tax relief and a few extra euro a week in our pockets, one of the key announcements in terms of business in Budget 2017 was the 10% rise in the capital allocation for the Department of Jobs, Enterprise and Innovation.
The rise of €52 million to €555 million, the […]

Read Full Article

Tobacco Companies’ Taxes Raise by 81pc

Recent reports in the Irish Daily mail show that tobacco companies have spent about €500 in taxes which is an 81pc increase since last year. This tax is leading to a packaging ban. Companies will be allowed to sell the product that they have in stock until May 2017.

Read Full Article

Enterprise Ireland Plans Advising Event

Enterprise Ireland plans to pull its global staff back to Ireland in order to assist exporters in finding new markets as a way to put less reliance on the UK.

Read Full Article

Turkey Approves the Import of Irish Cattle

While Irish beef farmers were fearing the affects of the rising herd numbers, agents from Turkey bought thousands of live cattle.

Read Full Article

Carlsberg sales fall in the first quarter

Brewer Carlsberg has today said it’s sales fell more than expected in the first quarter due to decline in China’s market and foreign exchange fluctuation.
Sales fell 3% to 13.01 billion Danish crowns ($1.99 billion), missing the 13.18 billion crowns average of 14 analyst estimates compiled by Thomson Reuters.
“Beer market development in Asia was mixed with […]

Read Full Article

Allergan reports rise in quarterly revenues

Allergan, today reported a 48% rise in quarterly profit, led by strong sales of Botox and Restasis.
The Irish based company whose $160 billion merger with Pfizer fell apart last month,reported a better than expected quarterly profit.
Allergan was known as Actavis until it bought Botox-maker Allergan last year and took on its name.
It also said today that its board […]

Read Full Article

Morgan Stanley’s quarterly profit falls by more than half

Morgan Stanley’s (MS.N) quarterly profit fell by more than half as the Wall Street bank’s fixed-income trading and investment banking businesses took a hit from market volatility.
But the earnings handily beat expectations as the bank slashed compensation costs by nearly a fifth. Chief Financial Officer Jonathan Pruzan told Reuters that more cuts would take effect […]

Read Full Article

SFA warns of threat to Irish jobs from Brexit

    SFA warns of threat to Irish jobs from Brexit

The Small Firms Association has warned that if Britain decides to leave the EU it will pose a huge risk for small businesses in Ireland.
The SFA has said that thousands of jobs could be put at risk if the UK votes to leave the EU in a referendum on the the 23rd of June.
Linda Barry, […]

Read Full Article

UK’s biggest businesses back campaign against Brexit

Bosses at more than a third of Britain’s biggest businesses have come out in support of the campaign for the country to remain in the European Union.
Asda, BT, Marks & Spencer, Kingfisher and Vodafone chiefs backed a letter warning of the risks to the economy of quitting the 28-member bloc.
Chairmen or chief executives of 36 […]

Read Full Article

Study shows Ireland is least complex country for business compliance

Ireland is the least complex country in the world for businesses to stay compliant with corporate regulation and legislation, according to a new study.
The annual TMF Group’s Global Benchmark Complexity Index 2015 shows Ireland has risen above Hong Kong and Jersey in the last year.
The study ranked 95 jurisdictions across Europe, the Middle East, Africa, […]

Read Full Article

C&C to partner with US brewer Pabst

    C&C to partner with US brewer Pabst

C&C Group has announced a new long term partnership agreement with Pabst Brewing Company for the sale and distribution of C&C Group’s cider brands within the US.
Under the terms of the deal, the US brewer will have the exclusive license to distribute, market and sell all of C&C’s cider brands in the US.
These include premium craft cider […]

Read Full Article

Charter company setting up Shannon base

    Charter company setting up Shannon base

A leading worldwide private aircraft charter operator is establishing a base in Co Clare.
Athens-based GainJet Aviation has begun the process of establishing its new Irish operation within Shannon Group’s International Aviation Services Centre (IASC).
The IASC is the business unit within Shannon Group plc, established in 2014, tasked with building on the already well-established aviation cluster […]

Read Full Article

Deliveroo moves into Galway after raising $100m

    Deliveroo moves into Galway after raising $100m

London-headquartered Deliveroo, the on-demand restaurant delivery service, said on Tuesday that it has raised $100 million to fund further expansion in new markets, and is expanding its Irish offering to Galway.
Deliveroo, which launched in London in 2013, also said on Tuesday that it has expanded into Galway city today, its third Irish hub, following an […]

Read Full Article

Companies throughout Ireland commended at the 15th annual Export Industry Awards

The 15th Export Industry Awards was held at the Convention Centre in Dublin
The Irish Exporters Association recently held the 15th Export Industry Awards which attracted 500 guests and recognised companies throughout the country leading the way in exports.
The “Oscars of the export industry” attracted the likes of Tom Hayes T.D., Minister of State for the Department […]

Read Full Article

Irish jet leasing firm Avolon posts a 33% increase in profits

Irish aircraft leasing firm Avolon saw profits rise 33 percent to $58m in the third quarter of the year as the company benefited from a mix of lease revenue and jet sales.
Avolon is currently in the process of being sold to China’s Bohai Leasing in a deal that places a $7.6bn enterprise value on the […]

Read Full Article

Pratt family sells Avoca to US catering giant Aramark

The Pratt family behind the Avoca chain of luxury retail outlets and cafés have agreed to sell US catering group Aramark for a price rumoured to be upwards of €60 million.
Aramark plan to “internationalise” the brand which raises the prospect of eventual expansion into the US market.
The deal is subject to approval from the Competition and […]

Read Full Article

Scottish innovation and investment hub in Dublin to increase trade

Fiona Hyslop said that Scotland’s relationship with Ireland, is a clear demonstration of nations working together which symbolises exactly what the EU is all about
Today Fiona Hyslop, the Scottish Cabinet Secretary for Culture, Europe and External Affairs announced the appointment of John Webster to the new Scottish innovation and investment hub in Dublin.
Mr Webster, who is well […]

Read Full Article

Kingspan’s nine month sales reach €2 billion

Kingspan, the building materials firm, has reported sales of €2 billion for the first nine months of the year. The sales are up 44 percent on the same time last year.
In an interim management statement, Kingspan said the figure was boosted by the contributions of recent acquisitions, while movement on the currency markets also provided […]

Read Full Article

Kennedy Wilson acquires four Dublin offices for €24.9 million

Kennedy Wilson, the US property investment group, has acquired four offices in Dublin for €24.9 million.
Kennedy Wilson  acquired Bank of Ireland’s real-estate business in 2011. The company said it had bought the offices from an unnamed British bank and from the National Asset Management Agency (Nama).
The four offices total 72,200 sq ft with a capital value per […]

Read Full Article

The Clarion Hotel Limerick on the market for €3.5m

The Clarion which is on sale for €3.5m is the tallest hotel in Ireland
The Clarion Hotel Limerick has been put up for sale by its receiver Kieran Wallace of KPMG with a guide price of over €3.5m.
Savills, which is handling the deal, said the hotel is being offered for sale by private treaty with the […]

Read Full Article

Glanbia in talks of $140m expansion in New Mexico

Glanbia’s Global Performance Nutrition division saw revenues rising by 3.8 percent
Glanbia is in advanced discussions about a $140m project to expand cheese and whey production at its New Mexico plant.
The expansion,with its joint venture partner South West Cheese, will take two years and will boost production capacity by 25 percent.
Glanbia said it is experiencing a surge […]

Read Full Article

Ryanair announce half year profit of €1.4 billion

Ryanair has announced a half year profit of €1.4 billion for the six months to the end of September.
That figure includes a one-off gain of €317m from selling its stake in Aer Lingus to IAG.
The airline said its profit after tax rose by 37 percent to €1.088 billion, while revenues for the six month period […]

Read Full Article

Irish Manufacturing sector expands for 29th month in a row

The latest PMI from Investec revealed another month of expansion for Ireland’s manufacturing sector
According to Investec’s monthly Purchasing Managers’ Index (PMI) the manufacturing industry experienced growth for the 29th month in a row.
The index revealed an improvement in business conditions within the sector for the month of October.
The rate of expansion in new orders rose […]

Read Full Article





Advertisements

































National Manufacturing Conference & Exhibition 2016

NIBRT Springboard Success Stories



Upcoming Events

  • No upcoming events
AEC v1.0.4

Join our Newsletter!



By subscribing you agree to receive updates from us by email. You can opt out of receiving emails at any time.