Tuesday 21 November 2017

South-east strategy

The south-east needs a 10-year economic development strategy to create employment in the region, according to a new report.

The report, from the joint committee on jobs, enterprise and innovation, said greater regional cohesion would be key to a revival. This would involve inter-county and inter-agency collaboration to eliminate needless layers of bureaucracy and deliver effective change. "The south-east region faces many challenges including high unemployment, low educational attainment levels and social disadvantage," author and committee member senator David Cullinane said. "However, it has many strengths, including an improved road infrastructure, water and waste-water treatment plants, the Rosslare and Waterford ports and the Institutes of Technology."

JUMP IN US ORDERS

US industrial production rose in August as a bounce back in motor vehicle assembly lifted manufacturing output, a hopeful sign for the economy after growth got off to a slow start in the third quarter.

Though another report showed a slight pull back in factory activity in New York state this month, businesses were upbeat about the future and new orders and shipments jumped.

DANSKE CEO OUSTED

Danske Bank has ousted its chief executive Eivind Kolding after one-and-a-half years in the job, saying it needed a CEO with stronger banking qualifications.

Mr Kolding will step down immediately from Denmark's biggest bank and be replaced by head of corporate and institutional banking, Thomas F Borgen. "It is, in this phase, necessary to have a chief executive officer with stronger qualifications within banking," Danske Bank said in a statement.

PRINCE BACKS TWITTER

Saudi billionaire Prince Alwaleed bin Talal says he will not sell any of his shares in microblogging site Twitter Inc when it goes public, and expects the firm's IPO to hit the market later this year or in early 2014. The prince, a nephew of Saudi Arabia's King Abdullah and owner of international investment firm Kingdom Holding, invested $300m (€225m) in the social media giant in late 2011.

"Clearly, the speed they're moving with shows that they would like to IPO sooner than later. I believe it will happen either this year or early next year," Mr Alwaleed told Reuters. "Twitter is a very strategic investment for us. We believe that it is just beginning to touch the surface."

Irish Independent

Promoted Links

Business Newsletter

Read the leading stories from the world of Business.

Promoted Links

Also in Business