Monday 24 October 2016

What it says in the papers: business pages

Published 18/07/2016 | 06:54

Here are the main business stories from this morning's papers:

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Irish Independent

* First-time buyers will get financial help from the Government in a new scheme to be announced in the Budget.

Homebuyers of new houses will benefit from a tax refund based scheme. The measure is aimed at helping buyers currently struggling to get on the ladder due to Central Bank lending restrictions.

* The number of staff at the National Treasury Management Agency (NTMA) receiving bonuses has almost quadrupled, with 60 staff receiving almost €500,000 in performance-related payments for last year.

In 2015, 16 staff at the State's debt management agency received performance-related payments in respect of 2014, totalling €79,200.

* Average pay for chartered surveyors has soared, thanks to the pick-up in the property sector and low numbers of qualified staff.

The average national salary for a chartered surveyor is now €71,000, according to a pay survey by the Society of Chartered Surveyors Ireland.

The Irish Times

* The Central Bank's new consumer protection code will see banks being forced to tell customers about cheaper options available to them from rival institutions.

According to a report in The Irish Times, changes to the code will be announced on Thursday, which will also ensure lenders give more information on their policies for setting mortgage rates.

* Agile Networks has won a €5m contract with HEAnet, an internet network that provides services to education and research facilities across Ireland.

According to a report in The Irish Times, the contract will see Agile provide a 100gb network that will be rolled out over an 18-month period.

* US firm Citadel Securities has let 18,500 sq ft of penthouse office space at 1 Grand Canal Square in Dublin from real estate investment firm Iput.

According to a report in The Irish Times, the letting is fetching €1.1m a year for Iput, placing it alongside a high achieved before the crash in 2008.

Irish Examiner

* The Irish Government cannot be allowed to reduce its investment in infrastructure if it will look to actively bid for foreign direct investment from the UK, a leading economist has warned.

Ibec senior economist Gerard Brady said the State can't cut its spending on infrastructure if its to compete for investment following Brexit.

* The Port of Cork revelled in increased activity last year as profits increased by 79pc up to nearly €4.5m.

The State-run business saw revenue increase by 12.9pc to €29.8m with property rental increasing income.

* An increase to the national minimum wage would threaten small and medium enterprises, the Small Firms Association has said.

According to a report in the Irish Examiner, the SFA has said the focus must be on competitiveness following the Brexit vote.

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