Tuesday 21 February 2017

Allied Irish closer to AIBIM unit sale

Published 15/10/2011 | 05:00

FINANCE

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ALLIED Irish Banks has entered exclusive talks to sell its investment unit to Prescient Holdings, a South African asset manager. The Dublin-based lender put AIB Investment Managers back on the market after Irish Life & Permanent withdrew its preferred bid for the unit in April as the government prepared to take control of the life assurance and banking group. A sale may be agreed on within a month, according to one of the people involved, who declined to be identified because the process is private.

Accountancy firms are top recruiters

RECRUITMENT

CHARTERED Accountants Ireland has welcomed the latest recruitment projections from the biggest chartered accountancy practices in Ireland. This year's recruitment target for the 'Big 4' firms -- KPMG, PwC, Deloitte and Ernst & Young -- showed a 36pc year-on-year increase. Accountancy firms recruiting at this week's GradIreland graduate careers fair in the RDS reaffirm this. Of the 130 companies recruiting and 3,900 positions on offer, 915 vacancies were with accountancy practices, and five of the top eight hirers were Chartered Accountants firms.

Papers on Tullow 'bribery' look forged

PROBE

DOCUMENTS that allegedly show bank accounts used by Tullow Oil to bribe Ugandan officials appeared to have been revealed as forgeries last night. The Bank of Valetta in Malta was said to be used for the wire transfers, but the bank has said it has no record of the accounts existing.

Brewers call to cut beer excise by 10pc

BEVERAGES

THE pint will get cheaper if the Irish Brewers Association (IBA) has its way. It is calling for a 10pc reduction in excise on beer to be included in the Budget to boost beer sales, promote the Irish pub, and help Irish tourism. The association made its call as new figures showed that the Irish beer market has declined by 3pc in the year to date. Stephen Lynam, senior executive of the IBA, commented: "beer is the single most important product, accounting for approximately half of all alcohol sold in Ireland. This means that the sale of beer is vital to sustaining Ireland's pubs and wider hospitality sector."

Irish Independent

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