Posts Categorized: Practicenet News

US investment giant Blackstone upbeat on Irish prospects

Senior executives from global US investment firm Blackstone joined the bosses of Irish firms including Smurfit Kappa, Kerry Group and Permanent TSB in New York yesterday as they showcased their businesses to over 80 North American financial institutions. The Davy Annual Equity Conference also attracted key executives from a number of other Irish firms such… Read more »

Mortgage arrears may be caused by Irish banks’ leniency – IMF

The exercise of extensive forbearance by Irish banks on home loan defaults is “likely” to have contributed to the accumulation of arrears in the aftermath of the crash, says an IMF working paper. While the paper suggests the economic benefit of temporary forbearance and loan modifications for struggling households could outweigh their costs, it says… Read more »

Extra public service pay day to cost exchequer €300m

The inclusion of one additional pay and pensions day in public expenditure next year for “technical” reasons will cost the exchequer some €300 million, Government documents show. Revised spending estimates from Minister for Public Expenditure Brendan Howlin also show that Government moves to suspend metered water charges in favour of lower flat fees will necessitate… Read more »

Economy sees 3.5pc rise in GDP but pace of growth easing

THE economy grew by 3.5pc between July and September compared to the same time last year, signalling the pace of growth may be easing, official data shows. And compared to the second quarter, the economy virtually stagnated, with gross domestic product (GDP) rising by just 0.1pc, according to the Central Statistics Office. But analysts described… Read more »

Irish Internet economy worth E21bn by 20

Ireland’s Internet economy is predicted to grow in value to E20bn by 2020 but Irish firms risk being left behind and becoming globally irrelevant unless they innovate now. That’s according to global technology consultancy, BearingPoint, who said that Irish people are estimated to have spent E6 billion online in 2014, according to a recent study…. Read more »

Pressure on ECB to buy sovereign bonds

Banks are not expected to take up all the long-term European Central Bank loans offered on Thursday, increasing pressure on the ECB to begin buying sovereign bonds to hit a self-imposed stimulus target. The ECB is offering banks the cheap, four-year loans as part of a package of measures to add around 1 trillion euros… Read more »