Industry & Business

Tag "Brexit"

Survey Indicates 98 Percent of Irish Companies Have no Brexit Plan

    Survey Indicates 98 Percent of Irish Companies Have no Brexit Plan

The September – December 2016 InterTradeIreland Business Monitor Report, issued on Monday, shows that 98 percent of businesses surveyed have no plan in place to deal with the consequences of a British exit from the EU. The report also showed that 37 percent of construction companies surveyed reported difficulties recruiting skilled labour, with 33 per […]

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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 […]

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“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 […]

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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 […]

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Research Predicts Brexit’s Effect on Tourism

    Research Predicts Brexit’s Effect on Tourism

Tourism Ireland published research on Tuesday that shows the potential impacts of Brexit on tourism to the island of Ireland in 2017 and beyond.
Tourism Ireland commissioned RedC to conduct research among 2,000 British consumers, to assess their propensity to travel overseas in a post-Brexit world. The research shows that, up until now, there has been […]

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Taoiseach Attends World Economic Forum in Davos

    Taoiseach Attends World Economic Forum in Davos

Taoiseach Enda Kenny and Minister for Finance Michael Noonan participated in the Annual Meeting of the World Economic Forum (WEF) in Davos, Switzerland on Thursday. The theme of this year’s meeting is ‘Responsive and Responsible Leadership’.
The Taoiseach and Minister Noonan said they will use their time in Davos to promote Ireland as a location for […]

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Co-Founder of TrasferMate to Discuss Brexit Impact

    Co-Founder of TrasferMate to Discuss Brexit Impact

Founded in 2010, TransferMate Global Payments is the market-leading, international choice for businesses worldwide that send and receive foreign currency payments. TransferMate are are driving change across the global payments and wider FinTech sector alike. TransferMate’s unique portfolio of global regulation has enabled them to build one of the world’s most extensive networks of bank […]

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Overseas Companies Employ Almost 200,000 in Ireland – IDA

    Overseas Companies Employ Almost 200,000 in Ireland – IDA

IDA Ireland, the Government agency responsible for attracting foreign direct investment, announced the highest level of employment in its client companies in its history on Tuesday. Total employment at overseas companies stands at 199,877 people, the highest level on record.
IDA client companies created just under 19,000 (18,627) jobs on the ground during the year across […]

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3.5% GDP Growth Forecast for 2017

    3.5% GDP Growth Forecast for 2017

The ERSI forecast GDP growth at 4.2 percent for 2016, and 3.5 percent for 2017 in the Quarterly Economic Commentary for Winter 2016, published on Thursday. The report notes that the GDP forecasts have been revised downwards since the beginning of the year, largely as a result of the Brexit referendum and other potential trade-related […]

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Most CFOs Confident About Economic Prospects – PwC

    Most CFOs Confident About Economic Prospects – PwC

Eight out of ten CFOs were confident about prospects for the economy in the year ahead, according to a survey executed in Summer 2016 by PwC. The survey report, released on Wednesday, shows that Irish financial leaders expressed concern about maintaining margins (69%), controlling costs, especially labour costs (44%) and the lack of skilled employees […]

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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 […]

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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 […]

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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 […]

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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 […]

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Trade Mission to France Focuses on Cleantech, Brexit

    Trade Mission to France Focuses on Cleantech, Brexit

Minister for Foreign Affairs and Trade Charles Flanagan led an Enterprise Ireland Trade Mission to Lyon, on Wednesday, November 30, focusing on the high potential Cleantech sector. Today he will have a bilateral meeting with his French counterpart, Foreign Minister Jean Marc Ayrault. During the two day visit, Flanagan will brief key business contacts on […]

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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 […]

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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 […]

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Sterling collapse to put pressure on “fragile” retail sector, warns IBEC

    Sterling collapse to put pressure on “fragile” retail sector, warns IBEC

A string of external pressures has the potential to derail the retail sector’s fragile recovery in the run up to Christmas, according to IBEC’s Retail Ireland group.
Speaking at their annual conference in the Guinness Storehouse, the group has warned of the immediate concerns caused by the Sterling collapse, which risks driving customers north of the […]

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Weak sterling hits profits at ESB

    Weak sterling hits profits at ESB

Publishing their interim results for the six months to June 2016, ESB has pointed to the weakened, post-Brexit sterling as a primary cause for its operating profit falling €50 million compared to the same period last year.
With activities North and South of the border, the electricity supplier is at risk of taking a hit with […]

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70 jobs lost in Tipperary

Over 70 jobs are to go at a mushroom growing facility in Tipperary.
McDonald Mushrooms announced that it had closed its doors this morning with the loss of 70 jobs. The factory has been in operation in Tipperary for 17 years.
The managing director of the factory has blamed the job losses on the Brexit vote, alleging that the […]

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Central Bank Revises Irish Growth Projections

After Brexit, the Central Bank has revised its growth projections for the Irish economy for the next year.

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Manufacturing growth at 3 month high

Ireland’s manufacturing sector recovered to a three-month high last month, according a survey concluded the day before the Brexit vote.
The Brexit decision is expected to hurt the Irish economy.
The Investec Manufacturing Purchasing Managers’ Index rose to 53 in June from 51.5 in May, when it slowed to its lowest reading in almost three years amid Brexit […]

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Survey Shows Growth in Manufacturing

According to a recent survey, Ireland’s manufacturing sector is experiencing recovery in the last month.

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Brexit Hits Irish Stock Market

Many of Ireland’s largest companies are seeing downgraded stock ratings as recent analysts are predicting lower earnings as a result of the Brexit.

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Irish Business Sectors Consider how Brexit will Affect Trade

The business sector in Ireland is preparing for the blows that the economy will face after hearing the results of the Brexit vote.

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Enterprise Ireland Considers the Effects of Brexit

According to the head of Enterprise Ireland, no matter what the result of the Brexit vote is, the company still plans to work with Irish exporters.

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PwC Survey Shows Potential Setback in the Construction Industry

A new survey by the pwc shows that many leaders in the construction industry believe that their business would suffer if Britain left the European Union.

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Kingspan sees strong start to 2016

Building materials company, Kingspan has seen a strong start to the year, but the group has said it was seeing an easing in orders in the UK due to uncertainty over Brexit.
In an interim management statement ahead of its AGM today, the company said this reflected a combination of solid underlying markets, a positive margin performance […]

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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, […]

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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 […]

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