Saturday 1 October 2016

The week in Business

Monday

Published 11/04/2015 | 02:30

Alan Cook, Chairman, speaking at the Permanent TSB AGM held in the Ballsbridge Hotel. Photo: Tom Burke
Alan Cook, Chairman, speaking at the Permanent TSB AGM held in the Ballsbridge Hotel. Photo: Tom Burke

Irish renewable energy group NTR has up to €240m in its arsenal to return to shareholders following the sale of its last remaining US windfarms. A "liquidity event" is now likely, chief executive Rosheen McGuckian confirmed

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Online retail fashion house Asos is to promote Ireland as a destination in a tie-in deal with Tourism Ireland. Asos will highlight Dublin and Belfast as style capitals to almost eight million fashion-loving customers of the site.

Billionaire businessman Denis O'Brien has joined the board of a new $16bn (€14.6bn) private equity-style fund created to invest in telecoms and tech firms across Europe and the US. Russian oil and gas billionaire Mikhail Fridman and a number of partners created the fund, called LetterOne Technology.

Tuesday

Investment in Ireland was well below potential from 2011 to 2014, and the reason why is not fully clear, the IMF says. That's despite the weak performance largely coinciding with the 2010/2013 period of the EU/IMF bailout when the fund had unprecedented oversight of the economy here.

Improving domestic demand will be a key driver of Ireland's economic recovery this year, a new report by Merrion Stockbrokers predicts. It selected media firms INM and UTV among its top stock picks for the current quarter.

Wednesday

Permanent TSB has met 95 potential investors as it seeks to return to private ownership. The 99pc State-owned bank aims to raise €525m, €400m of which would be returned to the taxpayer. Chairman Alan Cook tells shareholders that management would be making "key decisions" soon.

Hosting the 2023 Rugby World Cup could help bring in as much as €1bn in tourism revenue, rugby legend Keith Wood is to tell an upcoming summit.

Thursday

The model proposed for the Knowledge Development Box may end up being too narrow to encourage companies to take part in research & development, business chiefs and tax specialists warn.

Industrial production surged by close to a third in February, data from the CSO reveals.

Irish Independent

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