ESRI and the budget, 1,000 new jobs from Amazon, and PTSB’s split mortgages plan

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

Taoiseach Leo Varadkar at the announcement by Amazon Web Services of its plan to add 1,000 new jobs in Dublin over the next two years. Photograph: Gareth Chaney Collins

Taoiseach Leo Varadkar at the announcement by Amazon Web Services of its plan to add 1,000 new jobs in Dublin over the next two years. Photograph: Gareth Chaney Collins

 

The ESRI has urged the Government not to cut income taxes in October’s budget, arguing that the strong economic growth is already providing enough stimulus. And it doesn’t think there’s a housing bubble in Ireland at present. Fiona Reddan has all the details from its summer economic commentary.

A subsidiary of online shopping giant Amazon is planning to add 1,000 new jobs to its operations in Dublin over the next two years. Taoiseach Leo Varadkar described the move as a vote of confidence in the Irish economy. Ciara O’Brien was there for the announcement.

In banking, Permanent TSB has hired Citigroup to explore options to take some €900 million worth of split mortgages off its books so that it can meet demands from regulators to bring down its high level of non-performing loans. Joe Brennan reports.

Garmin Pay is limbering up to enter the Irish digital payments market, in partnership with KBC Bank. This will see it compete with Apple, Google and Fitbit in what is becoming a crowded space. Ciara O’Brien has the details.

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