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Moscovici tipped

Former French finance minister Pierre Moscovici has a "good chance" of being named to the European Commission's top economic and monetary role, according to a French diplomatic source.

Proposed in July as France's representative in the next commission which takes office in November, Moscovici (inset) is a keen admirer of Keynesian economics who believes it is crucial for Europe to refocus on growth and jobs via higher investments. However, Germany has voiced reservations about France's interest in the powerful economic and monetary affairs role.

Moscovici was French President Francois Hollande's campaign manager in the 2012 presidential election before becoming finance minister. He was replaced in an April government reshuffle.

Pension gains

Irish managed pension funds rose 2.9pc in August, according to the Aon Hewitt Managed Fund Index which tracks the performance of traditional Irish pension managed funds. That contributed to the index delivering a positive return of 10.5pc since the beginning of the year.

"Despite concerns about the continued fighting in Ukraine, Israel and Syria, market valuations, and the poor economic growth figures in the Eurozone, markets produced positive returns in August." said Denis Lyons, an investment Consultant with Aon Hewitt.

"Investors reacted positively to speculation that the ECB may introduce further stimulus measures to counter the risk of deflation."

Euro zone government bonds experienced a strong month again in August.

Hotel prices up 10pc

The average price of a hotel room in Ireland now stands at €101 per night, according to Hotels.com, which looks at prices on its own website.

The online accommodation provider's latest Hotel Price Index (HPI) suggests a continuing recovery in Irish hotel room prices with hotel prices in Ireland rose 10pc in the first half of 2014. Killarney is the most expensive destination at an average of €111 per night, while Limerick is Ireland's "most affordable" destination at €74 per night.

The Irish Hotels Federation took issue with the findings, saying comparisons such as the Hotel Price Index are based solely on the prices found on Hotels.com and do not reflect the broad range of rates actually available in the market.

Irish Independent