Sunday 24 September 2017

Barclays bullish over Irish economy

Barclays is optimistic about Ireland's economic future and has even started lending into the property market here again, its Irish head of corporate banking said yesterday.

Dermot Hanley said the bank was mainly working with export-orientated Irish firms but they were all growing their businesses and boosting their productivity.

"We view Ireland as a huge opport-unity," he said. Barclays had done real estate deals worth up to €35m in Ireland recently, he added.

Eircom and O2 to share mast costs

TELECOMS

Eircom and O2 Ireland have inked a network sharing agreement that will see the two companies share the cost of future mobile mast site construction, in a move likely to save the companies millions of euro.

The two firms have also agreed to share the operating and maintenance costs relating to the 3,500 mobile mast sites they own between them around the country.

Eircom owns the Meteor mobile operator, while Tesco Mobile uses the O2 network.

UK industrial output slides unexpectedly

An unexpected fall in UK industrial production in February raised doubts about the strength of the British economy yesterday, clouding the outlook for monetary policy after very strong services sector numbers.

Industrial output suffered its biggest drop in 18 months, due mainly to greater-than-usual disruption from oil-field maintenance, official data showed. Manufacturing also stalled, the survey said.

Clontarf admitted to stock exchange

CLONTARF Energy, a small Dublin-based mining company formed from a complex merger last year, was admitted to the London Stock Exchange yesterday after getting the green light for a new acquisition.

The company was readmitted to the AIM following final approval of the acquisition of Hydrocarbon Exploration which is looking for oil and gas in South America. Clontarf also raised £2.7m (€3.07m) through a share placing.

High-speed train derails Ryanair route

Ryanair cancelled its Madrid to Valencia route because the low-cost airline can't compete with Spain's new 90-minute rail service between the country's largest and third-largest cities, Spanish media said, citing comments from CEO Michael O'Leary.

Railroad wind power attracts Google

Google and Warren Buffett's Berkshire Hathaway have shown interest in buying wind turbines to supply power along railroad lines and at computer server farms, two of the world's largest turbine manufacturers said.

"Railroads could be huge potential customers of wind turbines, and companies like Google have already shown some interest," Andris Cukurs, head of North American operations at Suzlon Energy, said.

Barclays bullish over Irish economy

Barclays is optimistic about Ireland's economic future and has even started lending into the property market here again, its Irish head of corporate banking said yesterday.

Dermot Hanley said the bank was mainly working with export-orientated Irish firms but they were all growing their businesses and boosting their productivity.

"We view Ireland as a huge opport-unity," he said. Barclays had done real estate deals worth up to €35m in Ireland recently, he added.

Indo Business

Also in Business