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24
Sep
2015
24
Sep
2015

London has moved ahead of New York to reclaim the number one position in a ranking of financial centres in 84 cities across the world. London climbed 12 points in the ratings to lead New York by eight points according to the latest survey which was launched in Shenzhen, China, on Wednesday. The International Financial Services Centre (IFSC) in Dublin has climbed six ranks from 52 in March to a ranking of 46th.

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23
Sep
2015

Migration: Ireland has the highest share of nationals living abroad of the 34 mainly developed member countries of the Organisation for Economic Cooperation and Development (OECD): more than 17% of Irish-born persons aged 15 and over, lives overseas. The share of foreign-born persons living in Ireland is also very high, reaching 20% of the total population, following a sharp increase over the years 2001 to 2011. Foreign workers typically originate from other EU member states, as they benefit from free labour movement, as well as from other English-speaking countries.

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17
Sep
2015
15
Sep
2015

The OECD said today that 90,000 persons in Ireland have been without a job for 3 years and it said Ireland's high inequality of market incomes largely reflects its uneven distribution of labour earnings. Only 50% of the individuals in the 20-30 age group are employed or are seeking work, 20 percentage points lower than in other advanced economies in the European Union.

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10
Sep
2015

On a seasonally adjusted basis, initial estimates indicate that Irish GDP (gross domestic product) in volume terms increased by 1.9% for the second quarter of 2015 according to the CSO today. Growth in GNP (gross national product) also increased by 1.9% in this quarter. GDP rose by 6.7% year-on-year and this follows from an annual growth rate of 7.2% in the first quarter of the year.

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8
Sep
2015

The sun maybe about to set on the second golden period for Irish commercial property according to the Dublin and London listed Green REIT which announced its results Monday for the 12 months to 30 June 2015. Green REIT reported a total return of 24.4% in the year and profit was at €157m (30 June 2014: profit of €43m) with basic earnings per share (EPS) rising 89.5% to 23.5 cent.

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5
Sep
2015

Ireland has had a positive environment for business for many decades as successive governments sought to make the country an attractive location for foreign direct investment (FDI), besides the offer of low tax rates. During the general election campaign in early 2011,Enda Kenny, taoiseach, stressed the aspiration that by 2016 the country would be "the best small country in the world in which to do business."

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4
Sep
2015
4
Sep
2015

In the world before 1950 it was rare for a poor country without significant natural resources to become rich. The moves led by the United States to cut tariffs in the 1950s prompted the 'Economic Development' report in 1958 in which T.K. Whitaker (1916- ), Ireland's then top civil servant, proposed the end of protectionism and the embracement of re-emerging globalisation by attracting foreign direct investment (FDI) to boost exporting. In a 1957 memorandum on the failure of Irish economic policy and the general sense of hopelessness in the country, Whitaker warned that "without a sound and progressive economy, political independence would be a crumbling facade." Two decades later in 1978 Deng Xiaoping (1904-1997) also faced a choice as it had been over a century since China had been the world's biggest economy — Angus Maddison (1926-2010), the renowned economics historian, chronicled the grim intervening times here.

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