Friday 18 October 2019

In brief

A new €8m retail area has opened at Terminal 1 in Dublin Airport.

The airport said it will showcase the best of Irish and international brands.

The Loop's new state-of-the-art retail area, which includes more than 18,300 sq ft of new stores, represents the culmination of 18 months of development and construction in the airside retail area of the terminal.

Howlin in Japan

Public Expenditure and Reform Minister Brendan Howlin is in Japan and will travel to South Korea as part of the St Patrick's Day 'Promote Ireland' Programme 2015.

The Minister has a full programme of engagements scheduled in both Japan and South Korea, which his department said will further strengthen Ireland's trade and business links with them.

New IFAC member

Finance Minister Michael Noonan has made a new appointment to the State's budgetary watchdog, the Fiscal Advisory Council (IFAC).

Dr Íde Kearney, who currently works as an economist in the research division of the Dutch Central Bank, has been appointed for a four-year term.

Prior to this, she worked in the ESRI on the development of macroeconomic models and their use in macroeconomic forecasting and policy analysis of the economy, including forecasting the public finances.

Intel cuts forecast

Intel, which has around 5,000 workers here, slashed its revenue forecast for the first quarter by nearly $1bn, saying small and medium businesses did not upgrade from Windows XP operating system as much as the chipmaker had expected.

The world's largest chipmaker's shares fell more than 4pc, dragging down a few other PC-related stocks.

Intel has been playing catch-up after falling behind in high-growth areas such as mobile chips as customer spending increasingly moved towards low-cost handsets, tablets and laptops.

Clarification

A headline in yesterday's paper stated a firm linked to Galway businessman Gerry Barrett recorded a profit after a write-off by Nama. Any write-off did not relate to Nama. We are happy to clarify this.

Irish Independent

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