Aug13Wed

Ireland: “Fastest-Growing” Economy in Europe

Ireland is likely the fastest-growing economy in Europe, according to new economic forecasts published today by Davy Research.

In its newest set of forecast for the economy, Davy said it predicts growth of 3.5 per cent in 2014, 3 per cent in 2015 and about 2.8 per cent in 2016.

Growth was “artificially depressed” last year by poor export performance among multinationals, but a clear recovery should become more apparent during the rest of 2014, the Davy report said.

To read more, please click HERE.

Aug01Fri

Member News: Bank of Ireland has reported a pre-tax profit of €399 million

BOI_LOGOBank of Ireland has reported a pre-tax profit of €399 million for the first half of 2014, compared with a loss of over €500 million during the same period last year.

The figure includes an €87 million one-off gain due to changes in its defined benefit pension scheme, the bank said.

The bank said its return to profitability was driven by a reduction in the level of write downs on bad debts.

Finance Minister Michael Noonan welcomed the bank’s return to profitability.

“The recovery in the Irish economy is taking hold and further proof of this is evident in the Bank of Ireland half year results. The results show that the Bank is lending into the real economy, reaching sustainable solutions with SME and mortgage customers in arrears, and making a profit,” he said.

Jul31Thu

Ireland set for “best tourism season since downturn”

Depositphotos_7503662_mTrips to Ireland by overseas visitors are up 10.3% for the first half of 2014, according to CSO figures.

The figures show a steady gain compared to the same period in 2013, with over 3,469,100 overseas visitors recorded by the Central Statistics Office between January and June (inclusive).

The latest figures on Overseas Travel show:

– Visits from Mainland Europe grew by 6pc, to over 1,218,100 visits

– North America registered an increase of 10.6pc (over 574,500 visits)

– Visits from Great Britain were up by 13.6pc (1,473,200 visits)

– Visits from the rest of the world were up 13.6pc over 203,300 visits

Growth from Britain will be seen as particularly good news. The UK is Ireland’s single most important inbound tourism market, and figures had fallen off drastically in recent years.

To read more, please click HERE.

Jul30Wed

Ireland targets 7,000 new multinational jobs per year

While pinpointing potentially 40,000 foreign direct investment (FDI) jobs between now and 2020, the Irish Government has stated the 12.5pc corporation tax rate will remain a central part of its investment strategy.

Publishing Ireland’s FDI policy this morning, the Minister for Jobs, Enterprise and Innovation Richard Bruton said the next phase of FDI will hinge upon talent, technology, new sectors and great places to live.

To read more, please click HERE.

Jul30Wed

The Homecoming and Belfast One City Conference

Unknown-1Belfast is having its first-ever Homecoming and you’re invited!

Whether you’re an expat or someone of Irish heritage who simply loves the city and wishes to see the peace blossom there, you will find a céad míle fáilte in Belfast from 24-26 September. The city will hang out its brightest colours to welcome Irish America home to join civic leaders in a two-day conference focusing on how best to build a better Belfast.

Among those joining the Homecoming will be the Mayor of Boston Marty Walsh and Oscar-winning film-maker Terry George. “Belfast is rolling out the green carpet for the Diaspora,” says Homecoming and Belfast One City Conference convenor Máirtín Ó Muilleoir. “This is a unique chance for our friends in Irish America to reengage, reconnect and return to Belfast.”

UnknownFor more details, please click HERE. To see a video from the 2013 One City Conference, please click HERE.