Business

Saturday 21 October 2017

The week in Business

John Mullins
John Mullins

A look back at the main business stories of the week.

Monday

More than €141m of gold could be mined annually from the Co Tyrone countryside within three years, it's claimed. And the construction of the gold mine at Curraghinalt could create around 500 jobs for the duration of the build, according to the firm behind it, Dalradian Resources.

The Dublin Airport Authority expects to name the successful bidder for the core work of its €320m Dublin runway project next spring, after launching a formal tender process.

Tuesday

The UK economy suffered a "marked slowdown" in the three months to the end of July and may slip into a recession from the tail end of the year, a British think tank warns.

An Irish unit of Canadian drinks distribution group Mark Anthony Brands takes a significant stake in Glendalough Distillery, injecting over €3.5m into the company.

Ireland's biggest company, CRH, is on track to deliver more profits than anticipated next year as its operations in North America fuel growth, according to Davy Stockbrokers.

Wednesday

Irish solar energy firm Amarenco is tapping investors for up to €200m in equity to fund the development of solar farms in France and to fuel windfarm acquisitions. Chief executive John Mullins says the firm has sized up potential windfarm purchases.

Nama is backing a multi-million euro housing development by Sean Mulryan's Ballymore Developments in Co Kildare. Ballymore will build nearly 300 homes in Naas.

Finance Minister Michael Noonan has asked Central Bank Governor Philip Lane to assess solutions being offered by bank and non-bank lenders to customers in mortgage distress.

Thursday

Ireland is at risk of "another devastating housing market crash", a former deputy governor of the Central Bank warns. "After having endured the collapse of its housing market less than a decade ago, Ireland has lately been experiencing a blistering recovery in prices," warns Stefan Gerlach.

The PwC building in Dublin's Docklands has been bought by London-based AGC Equity Partners in a €242m deal. The acquisition of One Spencer Dock represents one of the first big investments by a major institution since Britain's decision to leave the EU.

Irish Independent

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