Author: Practicenet

Irish tech firm Movidius has been acquired by Intel for an undisclosed fee, however the company was said to be valued at around €200m early last year. Movidius makes computer vision chips with the ambition of allowing machines to understand their surroundings and adapt to them. The firm has developed chips that powered the first […]

Export orders in Ireland’s services sector dropped to a five-month low as a result of fewer orders from the UK due to the weakening in sterling, a survey has found. And the expansion in new business was the weakest for around two and a half years, according to the latest Purchasing Managers’ Index (PMI) for […]

EU Commissioner Phil Hogan flatly rejected suggestions that Brussels is trying to exert influence over Ireland’s tax policy through the Euro 19bn Apple tax demand. Commissioner Hogan said he can understand Ireland’s position on an appeal against the Apple tax ruling – but he denied that the Brussels stance was part of any broader EU […]

Ireland remains especially exposed to another financial shock because of the high levels of public and private debt, the open nature of the economy, and Brexit, Central Bank Governor Philip Lane has said. And he said that the recent pan European stress tests showed the financial system also remains vulnerable. In a pre-Budget letter to […]

Ireland should remain an attractive location for multinationals even if the State were to ultimately take up to €13bn in takes from Apple, global ratings agency Fitch has said. The risk of increased uncertainty over Ireland’s attraction to global businesses, potentially damaging foreign direct investment and employment, is “limited”, Fitch said. But it said the […]

Trading on the Irish Stock Exchange reached record levels last year as profits at the firm increased by 25pc to €6.7m. Revenue at the company increased by 12pc to €27.8m as the exchange increased its headcount by 20pc to facilitate its growth. The vast majority (70pc) of the ISE’s revenue came from international business lines. […]

Ryanair boss Michael O’Leary has insisted that the airline’s growth at Dublin Airport has not “topped out” following a decision to cut capacity at the capital next summer. The airline will reduce the number of seats out of Dublin by about 370,000, or 3pc, as it redeploys the capacity elsewhere on its network in Europoe. […]

Apartment leasing agency IRES Reit has submitted an application for the construction of 492 new apartments as well as ground floor retail and commercial space in South Dublin. The development is situated in the middle of the Sandyford Business District on the Carmanhall Road as part of the Rockbrook scheme. The application has been made […]

Apple chief executive Tim Cook has angrily dismissed Brussels’ tax accusations as “political crap”, suggesting that Ireland is being “picked on” and is a pawn in a wider European Commission agenda to harmonise taxes across the EU. In an exclusive interview with today’s Irish Independent, Mr Cook also said that Apple will “go forward” with […]

Six years and €45m since its entry into the market Molson Coors has established itself as the third-biggest brewer in the country. The firm, which has Canadian, Carling, and Blue Moon among its brands, has increased its sales nearly ten-fold since its introduction into Ireland. Sitting in the front room of House, a club in […]