News

House prices soared 9pc in a year on the back of new buyers clamouring to get hold of property in limited supply. The ‘Help-to-Buy’ scheme and looser credit conditions are expected to push Irish house-price inflation into double figures this year, amid fears the housing bubble is back. Economists have questioned the need for the […]

Low levels of infrastructure development in regional areas will “fundamentally undermine” Ireland’s economic performance in the next decade, the Construction Industry Federation (CIF) has claimed. CIF president Dominic Doheny said a lack of strategic planning and the impact of demographic trends has resulted in Dublin becoming the focal point for economic growth in Ireland. The […]

Luxembourg has claimed a legal right to grab the European Banking Authority for itself after Brexit, despite pitches from Ireland and other states to host the EU institution. Dublin’s ability to lure financial firms post Brexit got a much-needed boost yesterday after the Royal London Mutual Insurance Society picked Ireland as its future EU base, […]

The National Asset Management Agency is preparing to sell a portfolio of loans tied to the late Cork developer Owen O’Callaghan. It is understood a formal auction for the partially-peforming loans, bundled together under the name Project Lee, could be underway by May or June. The Irish Independent has established that this latest sell-off of […]

Irish-listed Amryt Pharma posted operating losses before tax of €7.8m following a number of strategic acquisitions over the course of 2016. The company said that it had signed an exclusive licensing agreement with Aegerion Pharmaceuticals in December, which it said could have a transformational effect on the business. Amryt specialises in creating drugs to treat […]

A war of words has erupted over estate agent Lisney’s role in an apparently damning report into Nama. Lisney has distanced itself from the report that claimed taxpayers lost out on €18bn because Nama sold off properties too cheaply and too early. The ‘Sunday Business Post’ reported that the report into Nama was “prepared by […]

Taoiseach Enda Kenny insists he is confident that Ireland’s interests will be reflected in the draft Brexit negotiating guidelines due to be published by Brussels. With the formal divorce process now under way, European Council President Donald Tusk will set out the bloc’s priorities for the talks, which the Government expects will make reference to […]

A state-rescued bank has been accused of exploiting its mortgage customers by offering those who want to fix an interest rate that is more than double what other banks are charging. The bank has a two-year fixed rate of 7.25pc for existing residential customers. Its three-year rate is 8.75pc. It comes as there are fears […]

A rush to get approved for a mortgage, with first-time buyers to the fore, is expected to push house prices up by 10pc this year. Changes to Central Bank lending rules and the introduction of the Government’s help-to-buy scheme at the start of the year have resulted in a surge in people applying to take […]

Irish Life has restated its commitment to the Dublin office market with a decision to pre-fund the €125m development of 13-18 City Quay in the docklands. The 118,000sq ft office building – which will be built by Bennett Construction – has been pre-let to business advisory specialists Grant Thornton, and ownership of the property will […]