Banks to face competition for lending from hedge funds
The Central Bank has given the go-ahead for investment funds to start lending to Irish businesses. It could put the funds in direct competition with the banks.
The Central Bank has published a consultation paper on “loan-originating alternative investment funds (AIFs)” including hedge funds. The paper, the bank said, signals its intention to allow such funds to start lending directly to corporates.
Up to now the regulator has banned investment …
Hedge funds to be allowed to lend money – Central Bank
Ireland-based hedge funds will be allowed to lend money under new rules announced by the Central Bank.
While such funds had previously been precluded from lending as it was considered too risky by the regulator, they could soon be allowed to create special funds to lend to business.
The Central Bank today issued a consultation paper on the issue and the rules could be in place by the end of …
Economy to grow by 3.3pc next year as exports rebound – Central Bank
The economy will expand by 3.3pc next year as exports rebound and the tax take improves, the Central Bank said in its most optimistic forecast in years.
Gross domestic product is seen growing 2.5pc this year and 3.3pc next year, the bank said in its quarterly report published this morning.
If correct, the economy will grow 12 times faster this year than it did last year when the economy eked …
Accountants warn tax changes could harm investment
The OECD is looking at closing tax loopholes which allow some companies to legally pay little or no tax.
The proposed changes to the international tax regime must continue to allow a company to be incorporated in Ireland but not pay tax here if its tax home is covered by a tax treaty, the chartered accountants have argued.
Failing to do so could damage foreign direct investment, the Consultative Committee …
First-time buyers must resist the lure of risky loans despite the soaring prices
Buyers, specifically first-time buyers, are getting shafted, as tighter credit conditions and 2005-level house prices push them out in favour of the cash buyer, the institutional investor, or the punter from the rest of the world looking for a decent rental yield in this low inflation, low interest rate, low yield world we now inhabit on this side of Europe.
Those on the sell side of the property market outside …