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Last Updated: Feb 9, 2012 - 9:21 AM |
News
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Irish
National Irish Bank's losses and deposits rose in 2011
Danske Bank Group today announced its financial results for the twelve months to 31 December 2011. Profit before tax was down 35% to €566m. Irish unit, National Irish Bank, reported an operating profit before impairment charges of €45m, a decrease of 7% on last year. Income fell 13% to €141m due to reduced customer demand and the impact of impaired loans. Costs fell by 15% to €96m, driven by the Bank’s restructuring programme. Bad debt provisions rose to €850m, leading to a loss before tax of €805m compared with €618m in 2010.
Feb 9, 2012 - 9:18 AM
News
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Irish
Irish Finance Bill 2012: Includes tax incentives for executives of foreign firms and mortgage relief for first time homebuyers
The Minister for Finance Michael Noonan T.D. today published the Irish Finance Bill 2012 which gives effect to the taxation measures announced in last December’s Budget. The measures include tax incentives for executives of foreign firms and mortgage relief for first time homebuyers.
Feb 8, 2012 - 2:48 PM
News
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Irish
Elan reports pre-tax profits of $560.5m in 2011
The drugs firm Elan today reported pre-tax profits of $560.5m in 2011, following a loss of almost $325m in 2010.
Feb 8, 2012 - 9:41 AM
News
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Irish
Irish low-income families and the unemployed do not have enough money to achieve a basic standard of living
Irish low-income families and the unemployed do not have enough money to achieve a basic standard of living, according to a report published today.
Feb 6, 2012 - 1:33 PM
News
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Irish
Mexican cement giant Cemex increases offer for remaining stake of Readymix Ireland
Cemex, the Mexican cement and building materials giant, has increased its offer for the remaining stake of Readymix Ireland, which it does not own.
Feb 6, 2012 - 7:52 AM
News
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Irish
Irish pension funds increased 3.7% in January following a 2.4% drop in 2011
Aon Hewitt Ireland, a unit of Aon Corporation of the US, says Irish pension funds increased 3.7% in January following a 2.4% drop in 2011.
Feb 3, 2012 - 8:34 AM
News
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Irish
Vhi health insurance premiums to rise by 6% - 12.5%
Vhi Healthcare, the State-owned health insurer, announced today that it will increase its prices by an average of 9% next month with increases ranging from 6% - 12.5%. For most plans the price increase will be effective from 1st March, 2012. Vhi Healthcare said that the price increase is necessary to fund the healthcare needs of its customers.
Feb 2, 2012 - 4:16 PM
News
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Irish
Irish Health Contribution Refunds
The Department of Social Protection has this morning clarified the conditions applying to Irish Health Contribution Refunds.
Feb 2, 2012 - 9:21 AM
News
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Irish
Sky announces 800 new customer care jobs in Dublin over next two years
Sky, a unit of the British digital TV service, is to create more than 800 new jobs in Dublin over the next two years as it opens a new customer service centre to meet increased service demands from Irish customers. The new centre will open in August 2012 in Burlington Plaza, located in Dublin city centre, and will enable Sky to serve its Irish customers from one dedicated site for the first time.
Jan 31, 2012 - 8:18 AM
News
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Irish
Ryanair announces fiscal third quarter profit of €15m; Raises full-year forecast
Ryanair today announced a fiscal third quarter profit of €15m compared to a Q3 loss of €10m last year. Revenues increased 13% to €844m as traffic fell 2% and average fares rose 17%. Unit costs rose 11% due to a 7% increase in sector lengths and an 18% increase in fuel costs. Excluding fuel, sector length adjusted unit costs declined by 1%.
Jan 30, 2012 - 7:56 AM
News
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Irish
High Court cuts Quinn administrators' €2.75m fee by 20%; Irish public sector institutions again shown to be the 'soft touch'
On Thursday the president of the High Court cut a fee claim of €2.75m from the joint administrators of Quinn Insurance by 20%. Once again, Irish public sector institutions have shown themselves to be a 'soft touch' in respect of getting value for money for the taxpayer.
Jan 27, 2012 - 8:55 AM
News
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Irish
South African financial firm Investec buys Ireland's NCB Stockbrokers
South African financial firm Investec announced today that it has agreed to buy Ireland's NCB Stockbrokers in a deal that could be worth up to €32m.
Jan 27, 2012 - 8:05 AM
News
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Irish
Government announces measures to reform Ireland’s “arcane” bankruptcy laws; Focus on insolvency, mortgage debt and negative equity
The Government has announced new legislation designed to reform Ireland’s “arcane” bankruptcy laws and assist householders struggling with mortgage debt and negative equity.
Jan 25, 2012 - 4:00 PM
News
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Irish
ESRI says Ireland in top rich country ranks for per capita spending on pharmaceuticals; State's drugs bill in 2010 was €1.9bn
A report by the Economic and Social Research Institute (ESRI) says Ireland spent more on pharmaceuticals per capita than any other OECD (Organisation for Economic Cooperation and Development - - a think-tank for rich countries) country except the US, Canada and Greece in 2009. In 2010, it cost the State about €1.9bn for purchases of pharmaceutical products.
Jan 24, 2012 - 8:56 AM
News
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Irish
Irish pension funds index fell 2.45% in 2011
Aon Hewitt Ireland this week released Irish pension funds investment performance figures for the month of December 2011 and reported that the Aon Hewitt Managed Fund Index, an indicator of the performance of the average Irish pension fund, increased by 3.21% in December. The index has fallen by 2.45% for the full year 2011, affected by considerable volatility in investor sentiment, particularly for the Eurozone.
Jan 6, 2012 - 7:50 AM
News
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Irish
CRH announces investments of €0.4bn during second-half of 2011
CRH, the international building materials group, today announced 23 acquisition and investment initiatives totalling approximately €0.4bn undertaken during the second-half of 2011.
Jan 4, 2012 - 8:23 AM
News
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Irish
Some 5,700 Irish companies collapsed in period 2008-2011; In 2011 unsecured creditors had €1.2bn in unpaid debt
Over 1,900 Irish companies collapsed in year to November and according to Finfacts estimates some 5,700 companies have gone bust in the period 2008-2011. That is not the full total of firm closures as it does not include sole traders and partnerships. The failed companies in 2011 owe a total of almost €1.2 billion in unpaid debt to unsecured creditors.
Jan 3, 2012 - 7:54 AM
News
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Irish
Central Bank imposes record €3.35m fine on Combined Insurance Company of Europe; Also orders refund of €2.15m to customers
The Central Bank of Ireland has fined an insurance company €3.35m -- a record for the bank - - for 28 breaches of regulations at an insurance company over a five-year period to April 2011. Combined Insurance Company of Europe has also been order to refund €2.15m to customers holding 7,917 policies.
Dec 20, 2011 - 8:05 AM
News
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Irish
Irish pension funds down slightly in November
Irish pension managed funds declined during November, with an average return of -0.6% for the month. Aviva Investors took top spot with a return of -0.2% for the month, while Kleinwort Benson Investors propped up the league table with a return of -1.1%. As a result of recent falls, managed funds have suffered a 6.4% loss on average over the first eleven months of the year.
Dec 5, 2011 - 5:37 AM
News
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Irish
Survey of Irish SME firms shows 70% of firms that applied for loans got credit approval
A survey of Irish SME (small and medium-sized enterprises) firms which investigated the demand for credit shows 70% of firms that applied for loans got credit approval.
Nov 29, 2011 - 3:41 PM
News
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Irish
Real cost of Irish public sector staff pensions in 2009 was €10.5bn
Pensions are in the news ahead of the Budget next week and in the UK on Wednesday, public sector workers will stage a national strike in response to changes in their pension schemes. In Ireland, the cost of public sector staff pensions in 2009 was €10.5bn based on the actual cash payout and a charge for the increase in the accrued future costs of existing staff for that year.
Nov 29, 2011 - 7:30 AM
News
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Irish
Irish Public Service Reform: No bonfire of quangos' "organisational zoo"; Slow-motion process is expected
Irish Public Service Reform: The Government today announced plans to rationalise 48 State agencies or quangos by the end of next year and to review the position of a further 46 bodies by the end of next June. There will be no bonfire of quangos and it's clear that a slow-motion process can be expected. It is almost five years since then Taoiseach Bertie Ahern commissioned the Paris-based Organisation for Economic Co-operation and Development to review the public service and recommend changes. The OECD reported in April 2008 and criticised the proliferation of "arm's length bodies," known as quangos and concluded the situation amounted to an "organisational zoo." Bertie Ahern agreed that the estimated 800 agencies were "too many agencies by half."
Nov 17, 2011 - 3:55 PM
News
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Irish
European Investment Bank is lend total of €325m to ESB and UCD
The European Investment Bank is to lend a total of €325m to the ESB (Electricity Supply Board) and UCD (University College Dublin).
Nov 17, 2011 - 2:39 PM
News
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Irish
US firm Prometric to create 100 jobs in Dundalk
The US firm Prometric, a provider of test development and delivery solutions, today announced an investment in its test development services business in Ireland. It expects to create 100 jobs in Dundalk.
Nov 14, 2011 - 3:16 PM
News
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Irish
Bank of Ireland says trading conditions remain tough
Bank of Ireland said today that trading conditions remain tough and that the likelihood of a prolonged period of lower interest rates will make it more difficult to recover increased costs.
Nov 11, 2011 - 3:25 PM
News
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Irish
Getting Irish Business Online launches new e-commerce tool
Getting Irish Business Online (www.gettingbusinessonline.ie) has launched a new e-commerce tool to help Irish businesses increase revenues and profits through online sales. The free tool will allow businesses become e-commerce enabled in time for the lucrative Christmas market.
Nov 11, 2011 - 1:41 AM
News
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Irish
Irish pension managed funds recovered some losses in October
Irish pension managed funds recovered some of their recent losses during October, with an average return of 4.9% for the month.
Nov 8, 2011 - 2:57 PM
News
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Irish
Kerry reports rise in revenues in first nine months of 2011
Kerry, the food ingredients group, said today in a trading statement that sales revenue in the first nine months of 2011 increased by 7.9% reflecting like-for-like [LFL] growth of 7.3%. Business volumes grew by 3.4% with product pricing/mix increasing by 4%. Relative to the first nine months of 2010, business volumes were ahead 3.9% in ingredients & flavours and 1.6% in the group's consumer foods division.
Nov 2, 2011 - 12:39 PM
News
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Irish
Hedge fund administrator HedgeServ to add 300 jobs in Dublin
HedgeServ, a hedge fund administrator is to expand its Irish operations. The company, located on St. Stephen’s Green, Dublin, has increased its workforce by an additional 150 people over the last 12 months, bringing its workforce in Ireland to 230. HedgeServ announced today that it is on track for continued growth in Ireland with the announcement "of an additional 300 jobs into the future."
Oct 25, 2011 - 4:38 PM
News
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Irish
Bruton announces 79 jobs to be created at VistaMed - - a Leitrim medical devices manufacturer
The Minister for Jobs, Enterprise and Innovation Mr Richard Bruton T.D. today announced that Leitrim medical devices firm VistaMed is to invest €7.2m in research and development and the expansion of its production capacity, creating 79 new jobs - - almost doubling its current workforce.
Oct 24, 2011 - 1:10 PM
News
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Irish
Irish companies have reduced balance sheet pension liabilities by more than €2bn
Pension scheme benefit amendments that were implemented by top Irish companies have reduced balance sheet liabilities by more than €2bn. The liabilities of the top 30 publicly quoted Irish companies and 11 semi-state companies stood at €24bn in 2010 company accounts, according to a new report published by LCP Ireland.
Oct 14, 2011 - 6:05 AM
News
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Irish
Bord Gáis Energy Index fell 3% in September; Up 21% in 12 months
The Bord Gáis Energy Index (BGEI) recorded an
increase in the price of both gas and coal for the month of September, however,
the overall index fell 3% to 135 in September 2011, asfears of a second global recession saw the price of Brent crude
oil tumble $12 per barrel over the course of the month. However, the fall in
oil prices was significantly offset in Europe by a 7% depreciation of the Euro
versus the US dollar, which resulted in a net 4% decline in oil prices in Euro
terms. Despite the drop, the
index is still 21% higher than it was in September 2010 when it stood at 111.
Oct 10, 2011 - 3:00 AM
News
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Irish
Bill Clinton to attend second 'Global Irish Economic Forum'
Bill Clinton, the former US president, will attend the second 'Global Irish Economic Forum' of business people and academics which opens this morning at Dublin Castle.
Oct 7, 2011 - 8:24 AM
News
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Irish
Irish pension fund returns down 10% in 2011; Annual inflation-adjusted returns over 10 years in the red
Irish pension fund returns are down over 10% in 2011 while annual inflation-adjusted returns over 10 years are in the red.
Oct 6, 2011 - 2:16 AM
News
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Irish
High Court authorises Quinn Insurance to draw €738m from State insurance compensation fund
The High Court today sanctioned the
administrators of Quinn Insurance to draw €738m from the State insurance
compensation fund.
Oct 4, 2011 - 2:34 PM
News
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Irish
Prospects of saving 600 Dublin jobs at online gambling operation recede
The prospects of saving up to 600 Dublin jobs at Pocket Kings at the Cherrywood Science and Technology Park in South Dublin, receded on Thursday when the operating licence of the Full Tilt Poker website was withdrawn. Pocket Kings provides technology and marketing consulting services to the online poker industry and its main client/associate is Full Tilt Poker.
Sep 30, 2011 - 6:59 AM
News
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Irish
Fifty-three Irish public bodies binned survey on €15bn procurement bill; Interest on national debt at 21% of tax revenues in 2015
Comptroller & Auditor General Report: The 2011 report from the C&AG reports that 17% of public bodies ignored a survey on the €15bn annual procurement bill. The report also says interest on the national debt will consume 21% of tax revenues in 2015.
Sep 19, 2011 - 2:36 PM
News
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Irish
Chartered Accountants Ireland refers findings on Ernst & Young's audits of Anglo Irish Bank to disciplinary panel
A Chartered Accountants Ireland panel has referred findings on Ernst & Young's audits of Anglo Irish Bank to a disciplinary panel.
Sep 14, 2011 - 2:40 PM
News
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Irish
High Court asks European Court of Justice to rule on dispute between Anglo Irish Bank and Seán Quinn/ family
The High Court today announced that it would ask the European Court of Justice to rule on a dispute between Anglo Irish Bank and Seán Quinn and his family.
Sep 13, 2011 - 4:23 PM
News
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Irish
Noonan publishes Bill to levy 2% on non-life insurance policies to fund bailouts required by Quinn Insurance Ltd
Michael Noonan, finance minister, today published a bill which proposes a new levy of up to 2% on non-life insurance policies to fund bailouts such as one required by Quinn Insurance Ltd.
Sep 13, 2011 - 3:43 PM
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