Saturday 18 November 2017

Ex-Taoiseach in warning on deficit

DEFICITS

FORMER Taoiseach John Bruton said last night that the government deficit was a much more serious issue than the banking crisis, and blamed a lack of "democratic dissent" for the situation.

Speaking at the Institute of International and European Affairs, he said: "The net liability of the banks will be a finite amount, even if we don't have an exact figure. The much more vital issue is the gap between spending and revenue, which is running at 10pc of our GDP."

Asian deal a boost for our exporters

TRADE

A FREE Trade Agreement (FTA) signed yesterday in Brussels will boost Irish exports to Asia, according to Trade and Commerce Minister Billy Kelleher. This is said to be the first significant FTA since the EU's trade strategy was redefined by Global Europe -- the EU's 2006 trade policy statement. The agreement with South Korea is the first flagship trade deal under that policy.

Calyx buyouts save Irish entities

SOFTWARE

THE Irish entities within the Calyx Group have been secured after Better Capital, a private equity firm, bought Calyx's Irish software business and a management buyout of the firm's Irish voice, data and security operations was completed. In the process, 150 jobs in Ireland have been secured. Better Capital bought the group's debt from Anglo Irish Bank, placing the company's UK operations into administration and its Irish entities into receivership.

EBS bidder opts to go under radar

FINANCE

EBS bidder Cardinal Capital Group has re-registered as an unlimited company, shielding its financial results from view. Documents lodged with the Companies' Office show Cardinal's status was changed on August 25, just days after the group's EBS bid was submitted. A spokesman last night declined to comment.

Eastern promise for aviation staff

AVIATION

THE commercial aviation industry will need more than one million pilots and maintenance personnel in the next 20 years, with Asia accounting for almost 40pc of demand, Boeing said yesterday. The US plane maker estimated that world demand between 2010 and 2029 would be 466,650 pilots and 596,500 maintenance personnel.

Irish Independent

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