Ireland one step away from securing access to China's €51bn beef market
The Chinese food safety authority, the ASQIQ, agreed to send a team of veterinary inspectors to audit Irish meat export plants and systems in early December, with a view to opening up the vast Chinese market to Irish product in 2015.
On what was the first day of a five-day trade mission to China, Agriculture Minister, Simon Coveney, also announced that technical inspections would commence to prepare the way for …
Regulator's strict mortgage curbs face a baptism of fire
The recent rapid rise in house prices has rattled the Central Bank. Still smarting from criticism that it didn’t do enough to rein animal spirits during the Celtic Tiger house price boom, it has published a “consultation paper” on mortgage lending standards.
While lenders have been invited to submit their opinions on the Central Bank’s proposals, in practice it would seem that it has already made up its mind.
In …
Best Christmas in years will boost trade and jobs in retail
Traders are so confident of a return to a “normal” Christmas trade they will take on enough contract staff for 15 million hours of extra shifts in the next few weeks.
“We’ve turned a corner,” said a relieved Arnotts chief executive Ray Hernan.
Last year’s Christmas trade dashed retailers’ hopes. A combination of bad weather and lack of confidence among consumers killed the festive trade stone dead with retailers forced …
New State bank to boost SME lending to be launched today
Mr Schaeuble will be joined by the head of the European Investment Bank (EIB) Werner Hoyer, as well as Finance Minister Michael Noonan and Public Expenditure and Reform Minister Brendan Howlin for a joint signing ceremony officially launching the Strategic Banking Corporation of Ireland (SBCI).
The state-backed SBCI, which was announced last May, will make up to €800m available for small and medium businesses under favourable terms.
Under the scheme, …
Number of defaulted loans at Bank of Ireland fall further
“Notwithstanding currency impacts in relation to UK assets, we have reduced the volume of defaulted loans by €1.9bn from June 30 2013 to a level of €16.4bn on September 30 2014,” it said.
The bank added that it was benefiting from the “positive economic” environments in both Ireland and the UK.
Irish mortgage and default arrears continued to reduce in the third quarter, with reductions achieved in both Owner Occupied …