The Irish Fiscal Advisory Council, Ireland’s financial watchdog, has once again emphasised restrained spending as the Government gears up for its final pre-election budget. Finance Minister Michael McGrath has been warned about the potential risk of pushing an already maxed-out economy to its limit. Meanwhile, the Minister remains optimistic, citing statistics that highlight the Coalition’s competent management of public finances, as reported by Eoin Kennedy-Burke and Peter Flanagan.
A lucrative $11 billion contract with Intel has been brokered, securing Apollo Global a significant 49% stake in a new venture set to control Intel’s recently established Fab 34 in Leixlip, Co Kildare.
According to a new global study conducted by PwC, one of the Big Four accounting firms, Irish citizens are becoming increasingly concerned over their economic standing and the effects of rising inflation compared to their international counterparts. Full details are provided by Laura Slattery.
A newly introduced policy is set to simplify the decision-making process regarding care for older people. In light of a dispute between the Decision Support Service and the Law Society, advocates for vulnerable individuals claim the new policy widens the scope and empowers older individuals.
In 2023, demand for prize bonds among Irish investors dwindled, with repayment requests from current bondholders outselling new bond sales. This occurred despite prize money experiencing a 50% surge, according to data disclosed yesterday by the National Treasury Management Agency’s appointed bond sales company.
Proposals to tear down the noteworthy Stillorgan Orchard pub and its iconic thatched rooftop in South Dublin to make room for 41 new flats have been met with surprise and indignation by local inhabitants, as documented by Colin Gleeson. In the same area, a former restaurant site, the Beaufield Mews, has been put on the market for €4 million by DNG, with full planning permission granted for a four-storey block of 30 spacious apartments.
Troubles continue to mount within the Irish electric vehicle (EV) sector, with a sales decline of 21.85% reported this year. In contrast, the new car market marked a growth of 3.8%. Despite a downturn in EV sales in seven of the past nine months, hybrid vehicle sales continue to stay robust, notes Michael McAleer.
Solicitor Ammi Burke is presently enduring a tough spell, recently being mandated to cover the costs of both Arthur Cox and the Workplace Relations Commission after her dismissal appeal from the leading law firm was turned down. She was first dismissed in 2019. The expenses from this case are in addition to her previous High Court defendant charges, further increasing her financial burden.
In Rana Foroohar’s column, she asserts that disruption has begun to inflict itself upon the consultancy sector, almost seemingly celebrating this development.
An impending EU law crafted to combat deforestation may result in the disturbance of commodities exports to European Union countries. This disturbance could potentially inflate prices for everyday commodities like coffee for consumers. Additionally, it could put farmers from places as varied as Indonesia and Honduras in threatening situations.
In the commercial real estate sector, Ronald Quinlan reports that two of Dublin’s most renowned bars are slated for ownership changes, valuing up to €7 million and €5.5 million respectively. Foley’s bar on Merrion Row is currently under acquisition by a private-equity entity led by one of Ireland’s leading builders. McSorley’s in Ranelagh appears to be the latest acquisition for a group of ex-Irish rugby internationals, headed by pub owner Noel Anderson.
Lastly, Isme, a small business lobby, has released a pre-budget submission which may not sit well with staff from member companies. The lobby calls for a reduction in VAT for members, though it also advocates for an increase in PRSI and stricter regulation on the national minimum wage’s determination.