Call for urgent spending on education, Dublin airport flight delays and Trump’s trade wars

Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk

Ibec  says  the money to be set aside for the “rainy day” fund should be used instead to address the funding crisis in higher education, which it described as one of the biggest issues facing the State.

Ibec says the money to be set aside for the “rainy day” fund should be used instead to address the funding crisis in higher education, which it described as one of the biggest issues facing the State.

 

Ibec has criticised the Government’s plan to establish a so-called “rainy day fund”, suggesting the pot of money to be set aside is too small to act as a buffer against future economic shocks. In a pre-budget submission, the employers’ group said the money should be used instead to address the funding crisis in higher education, which it described as one of the biggest issues facing the State.

Irish Water is to be separated from Ervia and established as a single national utility to operate the State’s water services. The proposals, which were presented to Cabinet by Minister for Housing Eoghan Murphy last Thursday for approval, will come into effect by 2023, The Irish Times has learned.

Around one-in-four flights at Ireland’s biggest airport are delayed, according to figures released recently, prompting concern amongst airlines about a squeeze on facilities there. One international carrier says large numbers of craft have to queue on taxiways for long periods waiting for their turn to take off.

In his column, Chris Johns argues that Donald Trump’s trade wars - and his other antics - run many more risks than a mere dent to global economic growth. “If ignorance of history is a dominant characteristic of too many of our leaders, so is their unwillingness to try and understand what motivates others.”

With China and the EU facing into trade wars with the US, both sides meeting today in Beijing for the 20th EU-China summit, hoping to cement an alliance in defence of the World Trade Organisation and the rules-based international trading system. The same message will come from the EU-Japan summit in Tokyo on Tuesday.

China is also in the sights of the owners of Kildare Village outlet mall, while is looking to woo more Chinese tourists to the designer outlet mall by teaming up with both Hainan and Cathay Pacific to help promote the shopping centre to inbound passengers.

US doughnut chain Krispy Kreme has said it is to create 150 jobs with the opening of its first factory store and drive-through in Ireland. The company, which first announced plans to open here two years ago will open its new store at a site adjacent to the Blanchardstown shopping centre in September.

The former South African anti-apartheid finance minister, Trevor Manuel, is now an economic envoy for the country and on a mission to boost investment in an economy which flits between first and second biggest on the African continent. Over a coffee with The Irish Times, Manuel’s message to prospective investors is that his country is very much open for business. Opportunities are clear in areas including financial services, energy, sport and the food sector, he explains.

Pilita Clark asks how, despite the advances in science and technology, the modern traveller is still stumped with it comes to the best way to pack a suitcase. “Remember that the human species has managed to get itself to the moon and back. One day, it will also know how to pack.”