Author: Practicenet

Political instability may have caused a slowdown in the Irish services industry in April as growth in new business hit a 26-month low. According to the Investec Purchasing Managers’ Index (PMI) new business growth in the sector eased for the third month in a row, hitting its lowest since February 2014. The headline reading from […]

A welcome move, the introduction of a rainy day fund by the New Government – especially after the National Pension Reserve Fund was raided to the tune of €17bn to contribute to the bailout and shore up the banks. But will we have learned lessons from the past and what will the fund be used […]

US property firm Hines has pulled out of a €242m purchase of PriceWaterhouseCoopers’ (PwC) headquarters in Dublin, it is understood. Hines was expected to complete the deal for the 226,624 sq ft office block, located at One Spencer Dock D1, on a joint venture basis with two German pension funds. However, according to a report […]

Post-merger integration at newly merged Dublin-headquartered betting giant Paddy Power Betfair is on track after the company reported a 16pc year on year increase in its revenues. In a trading update released to shareholders this morning revenue in the first three months of the year was £339m with the firm reported good performance across all […]

Three landbanks in Cork will go on the market today, in one of the biggest sales of development land outside Dublin in recent years. “The Treasure Collection” is expected to fetch between €25m and €30m. The sale is being handled by Savills’ Denis O’Donoghue and Peter O’Meara. Bids are due by June 8. The sites […]

The SuperValu brand could start making an appearance on shop shelves around the world, as Cork-based retail group Musgrave plots a targeted internationalisation of its products. Musgrave chief executive Chris Martin told the Irish Independent that while its plans are at a very early stage, the group is looking at how it might emulate retailers […]

Eddie O’Connor’s Mainstream Renewable Power is “in the process” of raising €100m as it seeks to expand across emerging markets in South America, Africa, and South East Asia. The company swung to an after tax profit of €96m last year after losing almost €50m in 2015. Mr O’Connor said the results reflected “diligent implementation” of […]

Eddie O’Connor’s Mainstream Renewable Power is “in the process” of raising €100m as it seeks to expand across emerging markets in South America, Africa, and South East Asia. The company swung to an after tax profit of €96m last year after losing almost €50m in 2015. Mr O’Connor said the results reflected “diligent implementation” of […]

Businessman Denis O’Brien has criticised the Irish government’s decision to suspend water charges. Speaking to Bloomberg Television, Mr O’Brien said a plan to set up a commission to examine the water charges issue meant it had been “kicked in the air and down the field.” “The government was wrong to back down on Irish Water,” […]

Gross domestic product in the euro zone up 0.6 per cent on a quarter-on-quarter basis The euro zone economy accelerated more than expected in the first quarter, preliminary data showed on Friday, but consumer prices also dropped by more than forecast in April because of a steep fall in energy costs. The European Union’s statistics […]