Saturday 25 January 2020

Companies give €21m to charity

OVER €21m was donated by 46 of Ireland's largest companies to charities and community groups last year, according to new research. Business in the Community Ireland has launched an interactive online map, which gives a county-by-county breakdown of how much companies and employees supported their local community groups and charities in 2012.

About €12m was given in cash donations, €6m was contributed through in-kind donations and €3m was raised through employee fundraising. Employees also volunteered over 139,000 hours to local groups and projects during the year.

ENGINEERS' GROUP APPOINTS PRESIDENT

MICHAEL Garrick has been appointed as president of the Association of Consulting Engineers of Ireland. Mr Garrick is a civil engineer and director of the Tobin Consulting Engineers in Co Mayo.

He has been a member of the organisation's executive board for the past four years. He says that a healthy and competitive consulting engineering industry is ultimately an investment in national quality of life and that good engineering design costs less than 3pc of the entire cost of projects.

INNOVATION AWARD FOR MULVIHULL

CHIEF executive of the Irish Internet Association Joan Mulvihull was awarded a special Irish innovation award at the first inaugural European awards for Innovation Leadership hosted in Dublin, "for her crusading efforts to stimulate the Irish internet ecosystem".

Other winners of the EU-sponsored awards included Professor Stephen Hawking and space sky-diver Felix Baumgartner. The annual Innovation Luminary awards will rotate among the four Dublin-region universities.

GOLDMAN SACHS SELLS ICBC STAKE

GOLDMAN Sachs has ended a seven-year investment in Industrial & Commercial Bank of China (ICBC) by selling its $1.1bn stake in the world's largest lender by market value.

The Wall Street firm joins Citigroup and Bank of America in cutting its holding in the Chinese financial institution as new capital rules Basel III make it more expensive to hold minority stakes in banks. "Many foreign banks are facing capital shortages with the new Basel requirement, so I'm not surprised that they dumped holdings in Chinese banks on which they've already made massive returns," said Chen Xingyu, a Shanghai-based analyst at Phillip Securities Group.

Irish Independent

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