Insurer FBD was in demand, advancing 2.9 per cent to €8.50. Photograph: Dave Meehan

Iseq extends rally as it edges upwards

The Central Bank said Irish-based insurers need to work more on plans for their recovery or wind-down should they run into trouble.

Guidelines should lead to greater consistency in assessment of damages, regulator says

Ulster Bank’s owner RBS pumped the equivalent of €17 billion into Ulster Bank during the financial crisis. Photograph: Tom Honan

Market Beat: Analysts say joining the two institutions would boost the profitability of both

Recent speculation about another portfolio sale has prompted a spike in Ulster Bank mortgage-holders customers deep in default seeking to strike restructuring deal.

Bank swings into €15 million operating profit from €151 million loss for 2017

Datalex chief executive Aidan Brogan. Photograph: Cyril Byrne

Software firm to restructure after profit warning, possible accounting problems

Photograph: Bryan O’Brien

Belgian-owned reveals 21% more customers affected by tracker mortgage debacle

Bank of America’s Irish business now has up to €50 billion in assets. Photograph: Getty

Bank was one of first to take concrete steps on Brexit

Leo Varadkar: the State is holding firm to its values. Photograph: François Lenoir/Reuters

Need to avoid hard border ‘much more important than money and jobs’

Photograph: Jason Alden/Bloomberg

Earnings at cardboard-box maker grew 25% to a record €1.545bn last year

Silvio Berlusconi  said last month that he will stand in the European Parliament elections in May after a ban from holding public office was lifted by a Milan court last year.

Dispute over residency of bank’s Irish arm Mediolanum Asset Management

Bank of Scotland Ireland’s former head office on St Stephen’s Green in Dublin in 2010. File photograph: Brenda Fitzsimons/The Irish Times

Number of customers overcharged at Bank of Scotland, Danske and ACCBank rises sharply

 Davy estimates that Ulster Bank’s return on equity, a key gauge of a bank’s profitability, amounted to a little over 5 per cent in the first nine months of 2018, excluding exceptional costs.

Analysts see likely resistance to scheme in Dublin and Edinburgh

The move comes a little over a month after the NTMA sold €4 billion of 10-year bonds. Photograph: Thierry Roge/Reuters

Agency has full-year debt target of €14bn-€18bn

We’re not the smartest guys in the room,” CRH CEO Albert Manifold told investors at its annual general meeting last year. “But we’re not too stupid either.”

Some analysts have concluded that the company has bought recent growth rather than manufactured it

The Nama Act prohibits the agency from selling loans or property to a defaulting borrower, or connected parties  .Photograph: Cyril Byrne

Parties connected to a defaulting debtor were allegedly involved in an illegal purchase

CRH CEO Albert Manifold. ‘CRH has been substantially restructured by the CEO over the past five years,’ says Davy.  Photograph: Nick Bradshaw

Cevian reveals stake as AllianceBernstein analysts say materials giant has ‘lost its way’

The Central Bank is understood to be looking into Datalex’s trading statement on November 23rd. Photograph: Alan Betson

Retail software provider last month said it had uncovered a possible accounting issue

Hong Kong’s introduction of a controversial Bill that would make disrespecting the Chinese national anthem a crime has heightened fears about freedom of expression in the territory. Photograph: Bobby Yip/Reuters

Shirley Lam insists region retains its own capitalist and independent judicial systems

Traders work on the floor of the New York Stock Exchange. The S&P 500 overcame morning weakness to push higher, while Nvidia, Adobe, Microsoft and Apple led the Nasdaq indexes to solid advances.

US stocks trending higher for fourth day

Euronext, which acquired the Irish Stock Exchange from a group of Dublin stockbrokerages in a €158.8 million deal last March, confirmed  the 53 companies currently listed on the rebranded Euronext Dublin have transferred to its trading platform, Optiq.

Euronext bought Irish stock market for €158.8m in 2018

Central Bank governor Philip Lane said in November that he expects some of the six mortgage lenders at the centre of the tracker scandal to be subject to enforcement actions during the course of this year.

KBC Bank Ireland, Bank of Ireland and AIB see number of acknowledge cases rise

Ardstone Homes is currently building homes in Dublin, Kildare, Wicklow and Galway. Photograph: iStock

Company plans to deliver more than 5,000 housing units over next five years

 Central Bank governor Philip Lane emerged last week as the unopposed candidate to succeed outgoing ECB chief economist Peter Praet on the six-member board in Frankfurt. Photograph: Clodagh Kilcoyne/Reuters

Central Bank governor poised to become State’s first representative on ECB board

Burned-out vans and cars at the scene of the Strokestown eviction late last year. Photograp: Brian Farrell

Banking & Payments Federation says new Bill could put potential market entrants off

The Law Society of Ireland’s building at Blackhall Place, Dublin Photograph: Eric Luke

Growth rates not surprising given State’s buoyant economy, says Law Society of Ireland

The board decided to sell the self-contained financial planning division because there was little overlap between its client base and the rest of the business. Photograph: iStock

Firm is unlocking funds to continue its main business as it continues acquisition drive

Michael Fingleton arriving at the INBS inquiry, at Blackhall Place, Dublin, last May. Photograph: Dara Mac Dónaill

Latest submission said ex-INBS director will not be able to take part ‘for at least four months’

Banks  wrongfully denied borrowers their right to a cheap mortgage linked to the European Central Bank’s main rate. Photograph: iStock

Six main mortgage lenders set aside €1bn for compensation and refunds

Philip Lane will be in charge of monitoring the 19 national economies of the single currency. Photograph: Alan Betson

Market Watch: Irish tracker holders will be watching the bank’s plans for interest rates

 “2019 has started well, with markets up by over 5 per cent, unwinding some of the recent losses. Nevertheless, significant uncertainty exists relating to Brexit, US trade wars and central bank interest rate policies,” says Peter Gray, senior consultant with Mercer

New figures show investors are fretting about economic growth and trade tensions

The IFSC. Photograph: Bryan O’Brien

Survey comes as Irish retail banks have shed more than 25,000 jobs over the past decade

Financier Paul Coulson’s Ardagh said the “footprint adjustment” was aimed at improving the group’s competitiveness.  File photograph: Alan Betson

Group will cease production at Illinois container facility around the end of April

The Central Bank has had an influx of Brexit-related submissions.

Regulator dealing with increased application volumes related to UK exit from EU

Bernard Byrne, outgoing CEO of AIB: The changes at the top are occurring against the backdrop of salary caps and a ban on bonuses that has been in place since the outset of the crisis.  Photograph: Luke MacGregor/Bloomberg

Bank will select new chief financial officer ahead of annual results on March 1st, say sources

The court judgment, which was dated January 29th, said  that Barclays “cannot wait any longer”. Photograph: Lewis Stickley/PA Wire

Group chief had said last October the lender was 100 per cent ready for a hard Brexit

Philip Lane’s departure from the Central Bank would create a race for the governorship of the institution. Photograph: Nick Bradshaw

Central Bank governor only name put forward for chief economist role

Travelers Europe has had a presence in the Irish general insurance market for more than two decades. Photograph: iStock

American group seeks ‘business as usual’ for its EU customers and brokers

Smurfit Kappa recently signed an unsecured €1.35 billion revolving credit line with 21 of its relationship banks. Photograph: Bloomberg

Dublin based box-making giant plans to use most of proceeds to repay borrowings

AIB has operated a debit and credit cards transactions joint venture called First Merchant Processing (Ireland) Limited (FMBI), trading as AIB Merchant Services, since 2007. Photograph: Eric Luke

Move would be bank’s first major deal since the onset of the financial crisis in 2008

The draft No Consent, No Sale Bill 2019, was unveiled by Sinn Féin finance spokesman Pearse Doherty in the Dáil last week. FIle photograph: Gareth Chaney/Collins

Bill would prevent Irish banks from selling mortgages without the borrower’s consent

“While the proposals are not everything we wanted, we feel they are reasonable in the context specifically of Ulster Bank.” Photograph: Tom Honan

Some 750 staff in Republic will get 3% increase, with same number getting 1.25%-3%

Digicel chairman Denis O’Brien. Photograph: Swoan Parker/Reuters

Former executive vice-chairman joined board of telecoms group last year

The percentage of the Irish population over 64 years of age is forecast to grow from 13.4 per cent in 2016 to 18.4 per cent by 2030, which will increase the demand for care home beds. Photograph: Getty Images

Portfolio of 600 beds and 52 additional living units will be operated by Mowlam Healthcare

 François Villeroy de Galhau, governor of the  central bank of France; 16-year-old Swedish climate activist Greta Thunberg and John J Haley, CEO of Willis Tower Watson, during a panel session in Davos.

Davos 2019 diary: Teen environmental activist unsure is she was listened to by elders

Fianna Fáil leader Micheál Martin said: “It is hard to see how this helps our case.” Photograph: Nick Bradshaw

Taoiseach in Davos warns soldiers may return to Irish Border

Minister for Finance Paschal Donohoe in Davos. Photograph: Simon Dawson/Bloomberg

Davos 2019: State refuses to sign up to EU plan

 Taoiseach Leo Varadkar  in the Congress Hall during the 49th annual meeting of the World Economic Forum in Davos, Switzerland. Photograph:  EPA/Gian Ehrenzeller

As Trump stays away Chinese vice-president uses a keynote speech to take a thinly-veiled swipe at US protectionist impulses

Leo Varadkar walks through the congress centre on day three of the World Economic Forum  in Davos, Switzerland.  Photograph: Jason Alden/Bloomberg

Oecd chief says Ireland is example of where tax system is being ‘gamed’

Leo Varadkar: “Ireland has obligations to protect the single market”. Photograph: EPA

Davos 2019: Varadkar says discussions would follow ‘period of chaos’

Leo Varadkar participating in Thursday’s Davos panel discussion. Photograph: EPA

Davos 2019: Varadkar tells EU leaders that companies should pay tax where it’s owed

Prince William  and New Zealand’s   prime minister    Jacinda Ardern discuss mental health  during the 49th annual meeting of the World Economic Forum in Davos, Switzerland. Photograph:  Laurent Gillieron/EPA

Merkel highlights environmental and economic challenges facing ‘rather gloomy’ world

Climate Change protestors in Davos. Photograph: Valentin Flauraud/EPA

Davos 2019: Paschal Donohoe to take part in international tax panel

Prince William and David Attenborough at a session at the annual meeting of the World Economic Forum in Davos, Switzerland. Photograph: Gian Ehrenzeller/Keystone via AP

Taoiseach and Minister for finance will arrive in Davos on Wednesday

Brazilian president Jair Bolsonarohe delivers a speech at  the World Economic Forum  in Davos.  Photograph:  Fabrice Coffrini /AFP

Davos 2019: new premier promises to press ahead with reforms

IDA chief executive Martin Shanahan: “We make no apologies for the fact that we’re pitching for what is mobile investment”

Davos 2019: CEO Martin Shanahan points to global trade concerns

Britain’s Prince William listens to Sir David Attenborough during a session at the annual meeting of the World Economic Forum in Davos, Switzerland. Photograph: Markus Schreiber/AP Photo

Davos 2019: naturalist says growing importance of renewable energy a positive

 Prince William at a panel session in Davos.  Photograph: Gian Ehrenzeller

Davos 2019: Donohoe to face taxing time over profit shifting

Fang Xinghai, vice chairman of China Securities Regulatory Commission, gestures as he speaks during a panel session on the opening day of the World Economic Forum in Davos.   Photograph: Jason Alden/Bloomberg

Davos 2019: Beijing can still ‘leverage a lot’ to expand fiscal policy

Axel Weber, chairman of Swiss bank UBS. Photograph: Arnd Wiegmann/Reuters

Davos 2019: ‘Not in anyone’s interest’ to have Brexit with new rules, Former Bundesbank president says

A visitor taking a selfie ahead of the World Economic Forum  in Davos. Photograph: Simon Dawson/Bloomberg

Davos 2019: Biggest economic hazards seen as impact of US-China trade war and Brexit

Eddie O’Connor, Mainstream chairman, owned 42 per cent of the firm before it spent €153.3 million in late 2018 repurchasing and cancelling stock acquired by Barclays. Photograph: Frank Miller

Green energy entrepreneur’s firm bought back shares first sold for finance in 2008

Bllionaire financier Dermot Desmond was the main beneficiary of Datalex’s surge as his IIU investment firm’s interest inched higher to 26.4 per cent.

Market Beat: Share price slump could attract opportunistic suitor

Datalex chief executive Aidan Brogan. Photograph: Cyril Byrne

Software provider shocked markets by reporting it would make 2018 loss of up to $4m

Central Bank of Ireland deputy governor Ed Sibley has warned about the impact of a no-deal Brexit on the insurance sector. Photograph: Nick Bradshaw

Most products offered here are underwritten in UK or channelled through intermediaries there

Mann Vergan, Woodbrook Group’s new director of legal and corporate services.

Founder claims firm could have 1,500 employees in Waterford within next four years

Even with the plan to limit the impact on Irish insurance policy holders of the UK crashing out of the EU at the end of March without a withdrawal agreement, consumers may be hit in other ways.

Legislation is to allow UK and Gibraltar-based insurers and brokers to continue to service Irish customers

Digicel chairman Denis O’Brien. The company, set up by Mr O’Brien in Jamaica in 2001, operates in 31 markets across the Caribbean and Asia Pacific regions. File photograph: Swoan Parker/Reuters

Moody’s says Denis O’Brien-owned group’s high-debt capital structure ‘untenable’

 Preparing for the World Economic Forum in Davos, Switzerland,  which starts on Tuesday

Report highlights ‘lack of collective will’ to tackle issues

The EU Commissioner for Economic and Financial Affairs, Taxation and Customs, Pierre Moscovici, formally unveiled a blueprint on Tuesday for a transition to qualified majority voting (QMV) on EU taxation policy matters.

Digital tax opposed by Ireland, Sweden and Denmark

 Moody’s  estimates that Ireland’s GDP growth rate will ease to about 4 per cent from 7.5 per cent last year. Photographer: Scott Eells/Bloomberg

Ratings agency says economic fundamentals of Ireland are ‘very robust’

Datalex chief executive Aidan Brogan: “Today’s announcement is extremely disappointing for me personally, for the team at Datalex and for our supportive shareholders.” Photograph: Cyril Byrne

Travel software company reveals it may have misstated revenue in relation to major client

Irleand issued a swift rejection on Tuesday of the European Commission’s plan to remove national vetoes on matters relating to tax. Photograph: Yui Mok/PA Wire

EU Commission wants qualified majority voting on all tax issues by 2025

Datalex chief executive Aidan Brogan. Photograph: Cyril Byrne

Company hires accountancy giant PwC to review issue, sources say

‘Washington Post’ Jamal Khashoggi was killed in the Saudi Arabian consulate in Istanbul, Turkey in October. Photograph: Reuters

Country’s sale of $7.5 billion of notes its first bond sale since death of journalist

Managing director, commercial banking division, Ulster Bank  Eddie Cullen and Séamus Sheridan, Director and Co-Founder of Sheridans Cheesemongers. Photograph: Shane O’Neill

First such offering by an Irish bank means real-time balance and credit-limit data visible

Housebuilders Glenveagh and Cair offer the highest upsides, according to Irish stock market analysts. Photograph: Alan Betson

Think twice about bullish targets given uncertainties around Brexit and in US markets

The Axa insurance company building in Lisbon, Portugal.

Central Bank gave authorisation for XL to move to the Republic from the UK

Arson attack took place at the KBC bank premises on the Main Street in Swords at 5.18am.

Controversial eviction took place at Roscommon farm

Tesco bucked the UK trend in its sector with higher UK like-for-like sales over Christmas. Photograph: Reuters

Iseq edges up 0.2% as C&C fizzes on trading update and Kenmare also in demand

The NTMA said on Thursday that it also plans to auction short-term notes, known as Treasury Bills, on March 14th.

Agency aims to raise between €14 billion and €18 billion of long-term debt this year

The average 3 per cent pay increases apply to as many as 8,000 employees across AIB’s bottom three staff levels which are covered by a collective bargaining agreement.

Deal contains performance-related element and fixed-rate rise

Digicel said that final take-up across both offers had risen to 97.9 per cent by the time the offer expired on January 9th

Telecoms group owned by Denis O’Brien is saddled with about $6.7bn of debt

AIB is pressing ahead with plans to disband its complex web of staff grades and replace it with a streamlined career structure from July. Photograph: Leah Farrell/

Union seeking performance-related increase along with flat rate linked to inflation

The Iseq index of Irish shares edged 0.5%  higher to 5,680.57, with cardboard box-maker Smurfit Kappa standing out as the main gainer as it pushed 6.3%  ahead to €24.58

Market report: Iseq edges higher, with Smurfit Kappa the main mover

Market sources said that the National Treasury Management Agency (NTMA) plans to raise about €3 billion through the sale of 10-year bonds as early as Wednesday.

Move will be first market test since European Central Bank ended stimulus programme

Deputy Central Bank governor Ed Sibley told the regulator’s board that the institution was dealing with a “sizeable activity” in relation to authorisations. Photograph: Nick Bradshaw

Regulator has received 100 Brexit-related applications for authorisation

The price of oil, as measured by Brent crude futures, has rallied from a low of $50.47 on Christmas Eve to as high as $58.90 on Monday

Shares rise as much as 5.5% in London after analyst rates shares as ‘outperform’

UK banking giant Barclays and Bank of America Merrill Lynch are set to shift the most banking assets to Ireland as Dublin becomes their post-Brexit EU hubs

Some 27 financial companies have committed to moving staff or activities from UK to Republic since 2016 referendum

Anne Boden: she claims  Starling has a “different mindset” from the big banks

Mobile-only bank is led by former AIB chief operating officer Anne Boden

Billy Kane predicted in November that some parts of the commercial real-estate market were “coming to the end of the life cycle”. Photograph: Bryan James Brophy

The company, which is led by Billy Kane, has built up a €250m portfolio since 2015

Applegreen jumped 9.49 per cent to €6 as stock moves across the Irish market were driven by thin trading volumes

Applegreen, Ryanair and Bank of Ireland shares in demand as Iseq finishes up 2.5%

Swiss-Irish group Aryzta was the worst performer on the Iseq this year, plummeting by 87 per cent, after management raised more than €740 million through a share sale to help lower the embattled group’s debt levels and fund a restructuring programme.

Global equity markets head for largest slump since the financial crash 10 years ago

Alex Matuschka von Greiffenclau joined Digicel as CEO last February and had been a key figure in the group’s months-long negotiations with bondholders on a debt refinancing,

Alex Matuschka von Greiffenclau played key role in $3bn debt restructuring deal

Barryroe was found in 2012 to have more than 300 million barrels of recoverable oil. Photograph:  Finbarr O’Rourke

An Taisce is challenging decision to permit survey of area around oil find

Global stock investors took fright in early October as the US Federal Reserve signalled a possible more aggressive path for rate hikes, sending US bond yields to eight-year highs. Photograph: Andrew Caballero-Reynolds/AFP/Getty Images

Longest US bull run in history ends as Europe stocks struggle following slump

Bernard Byrne’s decision in October to hand in his notice have all but killed off any prospects of Paschal Donohoe approaching the market with more AIB shares any time soon

The year also saw the cost of the tracker-mortgage scandal top €1bn as lenders continued to set aside money for refunds, compensat(...)

  IBRC admitted  that holders of almost €270 million of junior bonds sold by the Anglo before its nationalisation almost a decade ago are now set to receive all that they are owed.   Photograph: Matt Kavanagh

Little chance of State recouping even a small part of the €34.7bn it pumped into banks

Dermot Smurfit: announced that he was stepping down from the board of Dublin-listed funds company ML Capital. Photograph: Brenda Fitzsimons/The Irish Times

Box-making giant turned down takeover approach by International Paper in June

Analysts at Investec  have estimated that the bank may cut its workforce by 15-20 per cent, equating to up to 2,200 employees, by the end of 2021

CEO Francesca McDonagh says bank will adhere to existing restructuring arrangement

Shares in Airbus fell 4.4 per cent after Le Monde reported the United States had opened an investigation into allegations of corruption. Photograph: Reuters

Aryzta leads large-caps lower, Smurfit Kappa bucks trend

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