Central Bank reveals extent of consolidation across the sector in Ireland

Partnership will see Hermitage become strategic supply chain partner for UK group

Larry Murrin, chief executive of Dawn Farm Foods. Photograph: Alan Betson

Food group plans to invest €25m in developing research centre over next five years

Competitor Norwegian Air said it had sold more than 5,000 flights within hours of announcing services to the US from Irish airports  on Thursday. Photograph: Norwegian Air/PA Wire

IAG dismisses newcomer Norwegian Air’s low fares on US flights as media stunt

Prof Philip Lane: expects house price growth to be restrained in the medium term by an expansion in supply and a tightening of funding conditions for lenders. Photograph: Alan Betson

Governor says lending rules have already led to a sharp moderation in expectations

In its report, S&P forecast house-price inflation of 7%  this year and 5% in 2018.

Standard & Poor’s says Irish market remains severely impaired becuase of legacy issues

After a long period of very low levels of supply of new housing, there are very positive signs of increased supply.

Department says it collates several datasets to estimate residential building rates

As part-owner, Ires Reit expects to pay approximately a quarter of the €10 million needed to fix fire-safety and other structural defects  at the Beacon South Quarter complex  in Sandyford.

Ires Reit says strong rental market is being helped by significant shortage of housing

In 2016, imports from EU countries decreased by 1 per cent to €42 billion, while imports from the rest of the world decreased by 1 per cent to €27.5 billion.

Trade figures give first clear picture of how Britain’s EU divorce is affecting Irish trade

Drop of €560 million in UK exports

Ibec group says Ireland’s largest indigenous sector faces major challenges in years ahead

In 1997, with Owen Killian as number two, IAWS charted its rise by buying Cuisine De France and reinventing itself as a convenience food business. Photograph: Nick Bradshaw

Chief executive’s departure caps two years of turmoil at the Swiss-Irish food giant

Dublin City Council decided last year to limit the height of apartments in low-rise areas of the inner city to 24m and to 13m in low-rise areas of the suburbs.

Ires Reit plan now includes three apartment blocks comprising 456 individual units

Experts claim the 15,000 figure for house completions last year being used by Minister for Housing Simon Coveney bears little relationship to the number of new homes being built. Photograph: Cyril Byrne

Claim that use of ESB meter connection data amplifies levels of actual house supply

Ires Reit had submitted an application for three 14-storey apartment blocks and several commercial units at its Rockbrook site close to the  M50

Company had originally applied for 492-unit complex comes amid rocketing demand for housing in capital

The survey suggested over a third of insurance firms remain confident they can achieve revenue growth in the year ahead

Findings are part of a survey of insurance CEOs by PwC

The natural-gas filling station at Topaz’s Dublin Port premises will have the capacity to fill up to 70 HGVs, with each fill taking no more than five minutes. Photograph: David Sleator

Gas Networks Ireland and Topaz agree €1.45 million deal to develop 70 filling stations

Ulster Bank’s index  suggests activity in construction continues to bounce back from the crash. Photograph: Alan Betson

Ulster Bank PMI barometer of purchasing activity rises for 41st month in succession

Savills noted headline rents for prime business space in Dublin city centre had more than doubled since 2012. Photograph: Eric Luke

Study reveals spike in preletting commitments amid scarcity of prime business space

Online entrepreneur Nicola McClafferty was formerly the chief executive online fashion retailer Covetique.

Tech investor focuses on identifying next-generation Irish tech prospects

Paddy Power Betfair finished off a positive week with a 0.6% rise to €102.20

In Dublin, Bank of Ireland and Permanent TSB buck euro-wide weakness in financials

The West region recorded the strongest price growth, with house prices increasing 17.8 per cent

In the capital, the highest house price growth was recorded in South Dublin, at 9.7 per cent

Nearly 60 per cent of people here have never switched their domestic gas or electricity supplier, says the Commission for Energy Regulation

Commission for Energy Regulation report highlights the financial benefits of ‘switching’

Marine Le Pen, head of the French far-right party Front National (FN) and candidate for the presidential elections. Investor concerns about the strong showing of far-right candidate Ms  Le Pen in the election kept euro and French debt under pressure on Wednesday. Photograph: AFP

In Dublin, Bank of Ireland remained weak in line with other financials

Minister for Jobs Mary Mitchell O’Connor   speaking on the HP announcement. Photograph: Eric Luke / The Irish Times

Minister for Jobs says plant closure represents significant blow to employees, families

The cost of rectifying defects in Priory Hall, Longboat Quay and Beacon South Quarter in Dublin is expected to run into tens of millions of euro. Photograph: Chris Ratcliffe/Bloomberg

Marsh Ireland urges mandatory latent defects insurance to cover flaws such as pyrite

Davy analyst Conall Mac Coille said an uptick in manufacturing and sevices is likely to translate into a 5 per cent growth in GDP in 2017. Photograph: iStockphoto

Davy revises up its GDP forecast as indicators point to stronger-than-expected growth

 Fyffes chairman David McCann flanked by  company secretary Seamus Keenan and non-executive director Tom Murphy.  Photograph: Cyril Byrne

Sumitomo Corporation’s acquisition of Irish fruit distributor gets green light from Brussels

Facebook has faced criticism it did not do enough to prevent false information being republished on its platform during last year’s US presidential campaign. Photograph: Dominic Lipinski/PA Wire

Social media giant agrees plan with media groups ahead of presidential elections

A Thai worker  at the BMW Group manufacturing plant in Rayong province, Thailand. Photograph: Rungroj Yongrit/EPA

Latest index suggests factories will support growth in Europe’s biggest economy

 Anne-Marie Tierney-Le Roux of IDA Ireland, Clint Eland, CEO of Mercury Filmworks, Minister for Jobs, Enterprise and Innovation Mary Mitchell O’Connor  and Paul Young of Cartoon Saloon. Photograph: Dylan Vaughan.

Animation company behind ‘Secret of Kells’ joins Canadian firm to develop new projects

The CSO convened a review group, chaired by Central Bank governor Philip Lane, to address the problem

New GNI* indicator to counterbalance inflation of Irish figures by multinationals

Grocery chain has been offering free carrots and potatoes with certain meat purchases

Investec’s latest purchasing managers’ index for the services industry rose to 61 in January.

Investec barometer points to pick-up in new export business with stronger UK demand

 Founder and chief executive of telecoms group Imagine Seán Bolger: he says   the cost of linking 937,000 homes   to a high-speed, fibre-to-the-home network is prohibitive. Photograph: Dara Mac Dónaill

Interview: Seán Bolger of Imagine claims the route to rural connectivity is wireless

Shoppers at the  Arnotts post-Christmas sale:  much of the rise in consumer sentiment was down to seasonal factors. Photograph: Nick Bradshaw

KBC Bank/ESRI index records biggest monthly increase in two years

Wall Street traders: US stocks  were up slightly on Thursday as a rise in consumer shares helped offset losses in financials

Packaging group Smurfit Kappa proves strongest performer in Dublin

Corporation tax maintained its solid  path in January. Photograph: iStock

Exchequer returns show almost €6.8bn in taxes collected in first month of 2017

CSO figures put the State’s headline rate of unemployment at a post-crash low of 7.1 per cent. Photograph: Daragh Mc Sweeney/Provision

CSO figures show the number of claimants signing on fell by 3,500 last month

ComReg has given Eir and its rivals a three-month window to negotiate the level of service credit owed if Eir breaks the new two-day rule. Photograph:  Steve Parsons/PA

Eir obliged to fix phone line faults within two days to avoid paying service credit to rivals

The unemployment rate for men stood at 7.9 per cent last month. Photograph: Aidan Crawley

Latest CSO numbers point to continuing improvement in labour market

Glanbia ’s new cheese and whey production plant will be able to process 3.6 million litres of milk a day, and will add 30 per cent to its processing capacity. Photograph: Eamonn Farrell/Photocall

Kilkenny-based food group enters joint venture with three US dairy co-operatives

In the final quarter of 2016, approvals for house purchase grew by 30 per cent year on year in volume terms and by 44 per cent in value. Photograph: Peter Byrne/PA

Banking and Payments Federation data point to 29% hike in approvals in December

Owen Killian:  under intense pressure to effect a turnaround in the food company’s fortunes. Photograph: Cyril Byrne

Shares in food company slumped 36 per cent over two days this week

Aryzta CEO Owen Killian: he has ruled out going cap in hand to shareholders for money to bolster the balance sheet

The real source of Aryzta’s woes is an overcapacity for several years in its North American operations

The Central Bank says consumer spending will remain a key growth driver. Photograph: Matt Kavanagh

Bank predicts GDP growth of 3.3% this year on foot of weaker exports

Tobam has been operating in Dublin since last July with a staff of 10, which it plans to extend to 20 by the end of 2017. Photograph: iStock

Paris-based fund managing over €8bn in assets plans to increase staff to 20 this year

Owen Killian has helped turn  Aryzta in to a baking behemoth with a  €3 billion turnover. Photograph:Cyril Byrne

Aryzta boss seems to have lost his Midas touch with North American cookies to blame

Pierre Moscovici, EU Commissioner for Economic and Financial Affairs, Taxation and Customs, at The Irish Times Corporate Tax Summit, in the Westin Hotel, Dublin. Photograph: Dara Mac Dónaill

Moscovici rejects Government’s claim that CCCTB would lower Irish corporate tax base

Aryzta chief executive Owen Killian said  the group’s performance was “both unexpected and extremely disappointing”. Photograph: Cyril Byrne

Share slide heaps further pressure on long-time chief executive Owen Killian

PwC Managing Partner Feargal O’Rourke, Irish Times managing director Liam Kavanagh and Minister for Finance Michael Noonan at the Irish Times corporate tax summit in Dublin on Tuesday. Photograph: Dara Mac Dónaill

European Commission overstepped remit in €13 billion demand, Dublin tax summit told

Minister for Finance MIchael Noonan at The Irish Times corporate tax summit in Dublin. Photograph: Dara Mac Dónaill

Minister says exit talks and new trade deal will take longer than UK’s two-year timeline

Michael Noonan at the World Economic Forum in Davos, Switzerland, last weekend Photographer: Simon Dawson/Bloomberg

Minister will also address Brexit and US tax clampdown at Irish Times conference

Facebook has been pushing virtual reality as the next big thing. Photographer: Troy Harvey/Bloomberg

Facebook-owned virtual reality company expands new LED research base in Cork

The current Brexit-related weakness in sterling may also be playing a role in lowering the annual inflation rate as a weaker pound keeps import prices down

Ireland’s annual inflation rate hit 0.5% in middle of last year but falling fuel costs and lower car prices dragged it lower (...)

The proposed redevelopment of Donnybrook House in Dublin 4 by UK property group U+I, which has secured planning permission.

UK group teams up with Colony NorthStar to buy underperforming office buildings

Theresa May: In her speech, the prime minister restated her commitment to avoiding a return to “the Borders of the past” in Ireland. Photograph: Facundo Arrizabalaga/PA Wire

Praised for providing clarity, the prime minister still left key questions unanswered

The Irish Cattle and Sheep Farmers’ Association called on farmers not to be panicked by media reports on farm debt. Photograph: Frank Miller

Farmers’ groups issue warnings as fear of farm repossessions grows

IFA president Joe Healy: “Agriculture and food cannot become a battleground between Brussels and London. There are too many farm livelihoods and jobs at stake.”

Association also voices opposition to vulture funds having ‘no regard for the family farm’

“The underlying trend remains largely unaffected by Brexit, with the value of goods exports for the year to November up 5 per cent.” Photographer: Dara MacDonaill

CSO trade figures shows value of Irish imports jumps 18% to €6.15bn in November

With Christmas Day just gone falling on a Sunday, shoppers had two extra days to complete their shopping lists. Photograph: Aidan Crawley

Kantar Worldpanel figures put Supervalu back in top spot, just ahead of Dunnes Stores

The latest Residential Property Price Index (RPPI) shows prices in Dublin were up 1 per cent in November and by 5.9 per cent on an annual basis. Photograph: Frank Miller

Government scheme and loosening of Central Bank rules appear to be stoking demand

Brexit and the related slide in sterling fit the definition of a serious economic disturbance, Ibec said.

EU rules provide for cases of serious economic disturbance, says employers’ group

 Government is  likely to insist on use of fibre, which can deliver speeds of up to 1,000 Mbps, in its national broadband plan. Photograph: Michael Smith/Getty Images

Study of download speeds ranks wireless firm Imagine second to fibre provider Virgin

Davy stockbrokers predicts the level of home-building and mortgage lending could also potentially double or triple over the next five to 10 years. Photograph: Nick Bradshaw

Davy stockbrokers cites help-to-buy scheme and loosening of lending rules as key drivers

Demand outstripping supply: offices  under construction in Dublin. Photograph: Clodagh Kilcoyne/Reuters

Brexit likely to further increase demand from international businesses, says Lisney

Both the housing and commercial construction categories continued to record sharp increases in activity, according to Ulster Bank’s latest purchasing managers’ index. Photograph: Nelson Ching/Bloomberg

Ulster Bank PMI barometer of purchasing activity rises for 40th month in succession

Irish-American telecoms entrepreneur Ken Peterson  reportedly offered to buy Apollo House for an estimated price of €7.5 million. Photograph: Gareth Chaney/Collins

Entrepreneur Ken Peterson offers to buy building and turn it into homeless shelter

Variable rate holders continue to pay price for profligate bank lending during boom years

Despite being headquartered in Dublin, Future Finance, which provides funds to more than 7,000 university students in Britain and Germany, does not yet operate in the Republic. Photograph: PA

Dublin-based start-up in talks with Central Bank about Irish licence

CBRE statistics reveal bullish market amid strong employment growth

Beef remains the single biggest component of Ireland’s food export trade, valued at €2.4bn last year

Bord Bia report highlights large number of challenges posed by UK decision to leave EU

Official estimates for dwelling completions are based on ESB meter connection data, which typically overcount the level of new builds. Photograph: Cyril Byrne

Statistics based on ESB meter connections ‘wholly unreliable’, says architect

The FTSE 100 rose 0.4 per cent  on Monday after hitting an all-time high of 7,243.76 points in its 10th straight session of gain. Photograph:  Lauren Hurley/PA

Sterling weakens on comments by May on post-Brexit trade

Julie Sinnamon: “I’ve no doubt that the UK will get their act together and really begin to proactively try and attract more companies there.” Photograph: Alan Betson

Agency boss says UK agencies are actively courting Irish agri-food companies

Wall Street was flat after the open on the last trading day of 2016 due to losses across most sectors, but was still on track to record hefty gains for the year.  Photograph: Stephen Yang/Reuters

FTSE rises 0.3% to end year at new record as Iseq falls over 300 points on annual basis

Eir,   Siro and Enet - the shortlisted bidders for the delivery of the NBP

Eir, Siro and Enet – the shortlisted telcos bidding for the NBP to end ‘digital divide’

The final intervention number will be key to the success of the project, which promises to bridge the so-called digital divide between urban and rural areas.

Number of homes included will determine cost of State’s rural intervention project

An Bord Pleanála recently approved EirGrid’s proposed second North-South interconnector comprising almost 300 above-ground pylons. Photograph: Eric Luke

Irish-British electricity link, built in 2012, has been out of action since September

US stocks slipped in light trading on Thursday ahead of the holiday season. Photograph: Andrew Kelly/Reuters

Miners and technology shares fall most, while travel and energy shares rise in final week

The most significant monthly changes were increases in computer, electronic and optical products (+1.4 per cent). Photograph: Jean-Paul Pelissier/Reuters

CSO gauge of factory gate prices shows prices rose by 0.9 per cent in November

ECJ decision casts doubt on tax concessions offered to companies such as Santander.

Department of Finance responds to ruling in relation to Spanish tax concession scheme

Oxfam Ireland’s chief executive Jim Clarken said: “The billions shaved off Apple’s tax bill are not an abstract sum. Tax-dodging has a real human cost”

Chartered Accountants Ireland hits out at what it claims is EC’s infringement of Irish sovereignty

Ryanair put in another strong session, rising 1.7 per cent, following sector wide trends. Photograph: Nick Ansell/PA Wire

Two-week rally driven by rebound in beaten-down banking shares; dollar pauses

In Dublin, where supply shortages are most acute, prices were up 0.7 per cent in October and by 5.5 per cent on an annual basis. Photograph: Frank Miller

Yet RPPI figures from CSO suggest slight moderation in level of monthly inflation

The ESRI said it now expected 18,000 housing units would be built next year, significantly more than previously forecast

Think-thank says big increase in construction could bring economy close to capacity

US Federal Reserve Board chairwoman Janet Yellen: The rate hike is a signal of the Fed’s confidence in the US economy – ultimately a good thing for Ireland.  Photograph: Gary Cameron/Reuters

Move could be good for Irish exporters but Trump’s fiscal plans throw spanner in works

Prof Tim Callan: “Higher welfare payments helped to ensure that incomes for those relying on social welfare benefits rose in line with general incomes.” Photograph: Dara Mac Dónaill

Research suggests most households enjoyed modest lift in disposable income

Gary McGann: The former Smurfit boss is up for the position of chairman of Aryzta food group.  Photograph: Frank Miller

Adviser had recommended voting down appointment because of McGann’s workload

Siro  said it  is investing €450 million in a fibre-to-the-building network that will be primarily aimed at 50 regional towns. Photograph: Andrew Matthews/PA Wire

ESB-Vodafone joint venture opens new Dublin headquarters in Carrickmines

Tax avoidance by multinationals costs poor countries  €92 billion a year, which could fund healthcare to save the lives of at least six million children. Photograph: Nic Bothma/EPA

Oxfam ranks 15 countries it says facilitate tax avoidance on an industrial scale

 Ireland’s economy will grow at its slowest pace in three years in 2017, according to  Ibec. Photograph: Dan Linehan

Employers’ group predicts further weakening of sterling amid Brexit

Construction activity in the Republic has now risen almost continuously since September 2013

Building, orders and employment all rose rapidly last month, says Ulster Bank index

TenderScout founder  Tony Corrigan. The company recently scooped the grand prize at the annual Eir Spider digital technology awards

Platform that helps firms procure government tenders is enjoying a surge in business

Minister for Housing Simon Coveney: “To be in a position to support and encourage innovative solutions to such fundamental social challenges is what good government is about.” Photograph: Dara Mac Dónaill

Homelessness and food waste among four projects chosen to share €1 million funding

Wall Street continued its  surge and a new high for transportation stocks added to the bullish tone. Photograph: Michael Nagle/Bloomberg

Irish financials buoyed by global rally with Bank of Ireland and PTSB both closing up

The importance of the UK to the tourism industry in Ireland was also revealed by the CSO, with Britain accounting for 41%  of 3.5m incoming visits

Agency pulls together raft of headline indicators detailing Ireland’s involvement with the UK

Jim Power  noted there was now an array of risks to the Irish economic outlook including Brexit; the policies of US president-elect Donald Trump.  Photograph: Eric Luke

Friends First’s Jim Power says authorities fail to address supply side issues in housing market

Crushing margin of prime minister Matteo Renzi’s defeat  stirred alarm among investors in Italian stock markets. Photograph: Alessandro di Meo/EPA

INM rises 1.7% after restructuring that should pave way for return of dividends approved

Simon Kirby: he warned the  depreciation of sterling would eventually translate into an erosion of consumer purchasing power

ESRI conference told of mammoth challenge facing Britain after it withdraws

John Moloney: says Brexit is the biggest risk to  Irish food industry in the State’s history. Photograph: Frank Miller

Former Glanbia boss is the winner of the 2016 RDS Gold Medal for Enterprise

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