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Ciaran Hancock

Ciaran Hancock

Business Affairs Correspondent

Ciaran Hancock is Business Affairs Correspondent with The Irish Times.

The €25 million payment to EBS matched those made in 2012 and 2011. Photograph: Brenda Fitzsimons
State pays EBS €25 million as part of 10-year promissory note agreement

Payment of promissory note subject to legal challenge from TD Joan Collins

Minister for Finance Michael Noonan stated that our banks wouldn’t need any new capital as a result of the stress tests as they have sufficient buffers in place.
Cantillon: Noonan and Elderfield on the same page in an inglorious chapter

Michael Somers: “There’s no point, when you’re starving, saving for an event that’s going to occur decades into the future.” Photograph: Eric Luke
Former NTMA chief welcomes transfer of State pension pot to new fund

‘It was money for the rainy day, but we’re now in the middle of a storm,’ says Somers

The head of the Credit Review Office, John Trethowan, has called for the upper threshold at which SMEs can appeal a bank’s decision to refuse them finance to be increased from the current level of €500,000. Photograph : Matt Kavanagh
Government asked to raise upper limit on SME credit appeals to €3 million

Head of Credit Review Office recommends threshold increase

Michael Noonan said Ireland would not be fully out of the bailout programme until the stress tests had been completed next year.
Michael Noonan signals stress tests for Irish banks next year

Minister says he does not expect that these tests will result in the banks requiring extra capital

The Government has agreed a new, later start date for water charges
Water charges due by end 2014

Latest Troika memorandum gives new dates for water charges and bank stress tests

“It would have been great to win it for Ireland but it wasn’t to be,” said Edmond Harty
Cantillon clan member’s can-do attitude

Cantillon: Edmond Harty was flying the flag for Ireland in Monaco last week

Edmond Harty at Dairymaster Global Headquarters in Co Kerry.
Irish entrepreneurs: your country needs you

Global Entrepreneurship Monitor of 2011 found 8.5% of people in Ireland aspired to be an entrepreneur, down from a high of 12.5% i(...)

The former Nationwide premises on Grand Parade.
IBRC liquidators serve legal papers on four former directors of Irish Nationwide

Action relates to their stewardship of the building society prior to its crash

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National Treasury Asset Management chief executive John Corrigan (right) at NTMA briefing at the Treasury Building in Dublin. At left is Rossa White and centre Oliver Whelan. Bryan O'Brien / THE IRISH TIMES NTMA issues €500m of three-month bonds
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Students take part in an anti-Troika protest outside the Presidential palace in Nicosia. Cyprus's Stock Exchange extended an almost two-week shutdown after the island placed controls on currency transactions to prevent a run on deposits when banks reopen. Photograph: Yannis Behrakis/Reuters Cyprus bourse to remain shut amid currency controls