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Thursday , September 21 2017
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Ireland

Bank of Ireland UK adds to its car and asset finance business

BOI

DUBLIN: Bank of Ireland UK has announced the purchase of Marshall Leasing Limited from Marshall Motor Holdings  for £42.5m. When the deal is complete, Marshall Leasing will become part of Northridge Finance, Bank of Ireland UK’s car and asset finance business Based in Cambridgeshire, Marshall Leasing provides a range of contract hire fleet services including fleet management, risk management, contract ... Read More »

Ireland must resist Juncker plan on ending veto on tax

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DUBLIN: Ireland’s must defend the principal of unanimity on tax matters at a European level, PwC tax partner Liam Diamond has said. Speaking at the Irish Times/PwC Tax Summit, Mr Diamond said politcally motivated moves to harmonise national rules on tax across the bloc had the potential to damage Ireland’s competitive offering and choke off multinational investment. EU Commission president ... Read More »

Bank of Ireland dumps scandal-hit PR firm Bell Pottinger

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DUBLIN: Bank of Ireland has become the latest corporate client, and the first big Irish name, to sever ties with embattled UK public relations firm Bell Pottinger. The London-based agency, known for its combative tactics and controversial client list, was thrown out of the UK’s industry body earlier this month for running a campaign in support of South African president ... Read More »

Average rent in Northern Ireland soars to £634

Morocco’s auto industry exports likely to rise to $10b by 2020

DUBLIN: The cost of renting a private property in Northern Ireland rose by 3.7% in the year to August, according to new figures. The average rent here in August was £634 – up 2.3% from £625 in July. In August 2016 it was £610. Across the UK rent grew by 2.4% over the year to August, the highest rate of ... Read More »

Bank of Ireland eyes IBI Corporate Finance unit sale to management

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DUBLIN: Bank of Ireland is in advanced talks to sell its IBI Corporate Finance unit to management at the State’s leading dealmaking firm. Sources have told The Irish Times the bank has been in negotiations for some months with IBI chief executive Tom Godfrey and managing director Ted Webb about a potential deal. They were not in a position on ... Read More »

Irish second quarter GDP grows 1.4% quarter-on-quarter, 5.8% year-on-year

GDP

DUBLIN: Ireland’s volatile gross domestic product (GDP) grew 1.4 percent in the three months to the end of June and was 5.8 percent greater than in the same quarter last year, data showed on Friday. Irish GDP data was called into question last year when 2015 growth figures were adjusted up to 26 percent after a massive revision to the ... Read More »

Bank of Ireland partners with WorldFirst

BOI

DUBLIN: Bank of Ireland Global Markets announced yesterday that it is expanding its U.S. customer offering by launching Bank of Ireland Global Payments – a foreign exchange and payments service in partnership with WorldFirst. It is hoped this unique alliance between a FinTech company and a traditional bank will allow businesses in the U.S. to make fast and safe international ... Read More »

Irish drinks exports worth €527m so far this year

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DUBLIN: The Alcohol Beverage Federation of Ireland (ABFI), the representative group for drinks manufacturers and suppliers across Ireland, has today said that newly published CSO figures confirm the massive contribution the drinks industry makes to Ireland’s agri-food exports.  The figures show that drinks exports have grown by 8.65% since June 2016 and were valued at €527 million for the first ... Read More »

Bank of Ireland raises €750m from junior bond sale

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DUBLIN: Bank of Ireland raised about €750 million through the sale of the first batch of junior debt from its new holding company, which was set up under new European rules designed to minimise taxpayer bailouts in the event of a future crisis. The bank sold £300 million (€333 million) of so-called Tier 2 notes, which were priced to carry ... Read More »

Irish house prices post fastest monthly rise in three years

Morocco’s auto industry exports likely to rise to $10b by 2020

DUBLIN: Irish residential property inflation posted its fastest monthly rise in three years in July, as a lack of supply combined with surging demand helped to push prices up 3 percent, data showed on Tuesday. Annual price growth hit a two-year high of 12.3 percent, up from 7.1 percent a year ago, as prices were also buoyed by an easing ... Read More »

Ireland to raise 1 billion euros in dual bond auction

profit rises

DUBLIN: Ireland will seek to raise 1 billion euros in a dual bond auction on Thursday as it moves towards the top end of its issuance target for the year and adds to the stock of debt eligible for the European Central Bank’s bond-buying programme. Ireland will tap its nine- and 20-year bonds, the country’s debt agency said on Monday. ... Read More »

Bank of Ireland reviews Bell Pottinger contract

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DUBLIN: Bank of Ireland is reassessing its UK public relations agency contract with Bell Pottinger, after the PR firm lost high-profile clients and was expelled from a key industry association in London as a result of work it carried out in South Africa on a racially-charged campaign. “We are reviewing the situation,” a spokesman for Bank of Ireland said in ... Read More »

Irish Stock Exchange 2016 profits up 21% to €8m

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DUBLIN: The Irish Stock Exchange (ISE) plc has recorded another strong financial year with results published today showing a 21% rise in profit after tax to €8m (2015: €6.6m). Revenues grew by 6% to €29.2m and total assets rose by 22% to €64.2m. With over 35,000 securities quoted on its markets from issuers located in 85 countries around the world, ... Read More »

Bank of Ireland ATMs drop Gaelic language, raising Irish ire

BOI

DUBLIN: The Bank of Ireland is removing the country’s official first language from its ATMs and its Gaelic-speaking customers are none too happy about it. According to a report at Irish Central, the change is being made as the bank updates its dispense-only cash machines with ATMs that also take deposits. The new machines will be programmed for English only; ... Read More »

Irish services growth ticks up to 3-month high in August

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DUBLIN: Growth in Ireland’s services sector inched up to hit a three-month high in August, a survey showed on Tuesday, but there were signs the strength of the euro may be impacting exports in the sector. The Investec Services Purchasing Managers’ Index (PMI) ticked up to 58.4 in August from 58.3 in July. It fell to a seven-month low in ... Read More »

Unemployment in Ireland fell to 6.3% in August

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DUBLIN: Unemployment in Ireland fell to 6.3 per cent in August following a surprise uptick in July. The latest figures show that the number of workers classified as unemployed fell by 1,700 to 139,100 in August, which equates to an annual decrease of 33,900. Having peaked at 15.2 per cent at the height of the crash in 2012, the Republic’s ... Read More »

Irish manufacturing growth hits two-year high in August

fast growth

DUBLIN: Irish manufacturing sector growth hit a two-year high in August, a survey showed on Friday, as firms’ expansion into more markets and securing of new business added to signs that the booming economy is showing few signs of slowing down. Ireland has had the best performing economy in the European Union since 2014 and economists say continued jobs, wage ... Read More »

Bank of Ireland removing Irish language option from ATMs

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DUBLIN: Bank of Ireland says due to falling demand, it is no longer offering customers the opportunity to conduct banking services through Irish via its new ATM network. Since 2010 the lender has been replacing older withdrawal ATMs with newer LATMs – which include lodgement as well as withdrawal services. These new machines do not include an Irish-language facility for ... Read More »

Ireland invests over €20m in female entrepreneurs to boost UK exports

INVESTEMENT FUND

DUBLIN: Enterprise Ireland, the Irish government agency and the third largest seed investor in Europe, has invested over €20m over the last five years to accelerate the UK growth of female-led start-up companies. With 75% of Enterprise Ireland’s female-led clients targeting the UK export market[1], the Female Entrepreneurship Unit helps ambitious women grow scalable businesses through sponsorship opportunities and development ... Read More »

C&C and Bank of Ireland fall amid sterling weakness

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DUBLIN: Sterling-sensitive stocks such as C&C, Total Produce and Bank of Ireland were out of sorts on Monday in Dublin as the UK currency continued its losing streak against the euro as a third round of Brexit talks resumed in Brussels. The wider European markets was also out of sorts, with the benchmark Stoxx Europe 600 Index falling 0.5 per ... Read More »