Business Irish

Tuesday 23 January 2018

What it says in the papers: business pages

Michael Cogley

Michael Cogley

Here are the main business stories from this morning's papers:

Irish Independent

* First-time buyers will get financial help from the Government in a new scheme to be announced in the Budget.

Homebuyers of new houses will benefit from a tax refund based scheme. The measure is aimed at helping buyers currently struggling to get on the ladder due to Central Bank lending restrictions.

* The number of staff at the National Treasury Management Agency (NTMA) receiving bonuses has almost quadrupled, with 60 staff receiving almost €500,000 in performance-related payments for last year.

In 2015, 16 staff at the State's debt management agency received performance-related payments in respect of 2014, totalling €79,200.

* Average pay for chartered surveyors has soared, thanks to the pick-up in the property sector and low numbers of qualified staff.

The average national salary for a chartered surveyor is now €71,000, according to a pay survey by the Society of Chartered Surveyors Ireland.

The Irish Times

* The Central Bank's new consumer protection code will see banks being forced to tell customers about cheaper options available to them from rival institutions.

According to a report in The Irish Times, changes to the code will be announced on Thursday, which will also ensure lenders give more information on their policies for setting mortgage rates.

* Agile Networks has won a €5m contract with HEAnet, an internet network that provides services to education and research facilities across Ireland.

According to a report in The Irish Times, the contract will see Agile provide a 100gb network that will be rolled out over an 18-month period.

* US firm Citadel Securities has let 18,500 sq ft of penthouse office space at 1 Grand Canal Square in Dublin from real estate investment firm Iput.

According to a report in The Irish Times, the letting is fetching €1.1m a year for Iput, placing it alongside a high achieved before the crash in 2008.

Irish Examiner

* The Irish Government cannot be allowed to reduce its investment in infrastructure if it will look to actively bid for foreign direct investment from the UK, a leading economist has warned.

Ibec senior economist Gerard Brady said the State can't cut its spending on infrastructure if its to compete for investment following Brexit.

* The Port of Cork revelled in increased activity last year as profits increased by 79pc up to nearly €4.5m.

The State-run business saw revenue increase by 12.9pc to €29.8m with property rental increasing income.

* An increase to the national minimum wage would threaten small and medium enterprises, the Small Firms Association has said.

According to a report in the Irish Examiner, the SFA has said the focus must be on competitiveness following the Brexit vote.

Online Editors

Promoted Links

Business Newsletter

Read the leading stories from the world of Business.

Promoted Links

Also in Business