Business

The National Asset Management Agency (Nama) said today that it has redeemed €3bn in senior bonds. The bonds were issued as consideration for the original loans acquired from the five participating institutions – AIB, Bank of Ireland, Anglo Irish Bank, Irish Nationwide Building Society and EBS. Nama said this redemption – its third to date – means that it has redeemed a total of €10.5 billion in senior bonds so far. Nama paid €31.8bn to the participating institutions when it acquired their loans in 2010 and 2011. Ninety-five percent of that amount (€30.2bn) was in the form of senior bonds guaranteed by the Minister for Finance and the remaining 5pc…

Hundreds of jobs will be on offer at Jobs Expo Dublin in association with DoneDealJobs when it takes place in Croke Park, Dublin on 14 and 15 March. There are roles available in a variety of sectors including construction, IT, software, retail management, financial services, motor and Engineering. Focusing on companies, Construction Jobs Switzerland will be advertising 250 positions to work in one of the highest-paying countries in construction in Europe, while Dynamic Concrete Pumping in Canada are looking for 75 people. There are 30 positions at Irish Pensions & Finance, Dublin including mortgage advisors and financial advisors. Meanwhile, MTS Security, Dublin, electronic security company, who will be offering roles…

Julie O’Neill has been appointed as general manager and senior vice president, global manufacturing operations, at Alexion Pharma Ireland Trading, to help the company to establish global supply chain operations in Ireland. O’Neill will also be responsible for global manufacturing operations, including Alexion’s manufacturing plant in Smithfield, Rhode Island in the US as well as Alexion’s global supply chain operations. Alexion is a global biopharmaceutical company focused on the development and delivery of therapies for severe and life-threatening rare disorders. Earlier this month, it announced that it has agreed to acquire a site in Athlone to create a vialling facility in Ireland, which would create 40 new jobs. Around 50…

Alexion Pharmaceuticals said today that it has agreed to buy a vialling facility in Athlone and intends to create 40 new jobs there as part of its plan to establish global supply chain operations in Ireland. The acquisition from Alkermes is expected to close during the first quarter of this year. The investment is supported by the Department of Jobs, Enterprise and Innovation through IDA Ireland. Last July, Alexion announced plans to open a new office and laboratory facility in Dublin and to establish a global supply chain facility in Ireland. Following the appropriate validation processes and regulatory approval, Alexion said the Athlone facility will become its first company-owned vialling…

The number of businesses collapsing this month has fallen by over a quarter compared to January last year, according to the latest figures from business and credit risk analyst Vision-net. Vision-net’s monthly figures, covering the period 1–27 January, show that 74 business were declared insolvent during the month – a 26pc decrease on the same period in 2013. Of those, 39 were liquidated, 34 entered receivership and an examiner was appointed to one company.
 
A county by county breakdown of the figures for this month shows that Dublin accounted for 49pc of all insolvencies, an increase of 13.6pc over January 2013. Galway had the second highest level of insolvencies on 8pc,…

Remote Working Trend on the Rise in Ireland The remote working trend appears to be gaining pace as 44pc of employees in Ireland surveyed by Ignite Research for O2 work from home at least one day a month. Another survey of those who already work remotely found that one third of people expect the trend to continue while 45pc believe that over the next five years most business communications will be from home or outside the office. Positive Work-Life Balance and Increased Happiness More than two thirds (70pc) of respondents who work remotely agreed or strongly agreed that working outside the office enabled them to find a positive work-life balance. A…

The total number of commercial and consumer judgments awarded, worth €398.5m, fell by 6.9pc in 2013 when compared to 2012, and fell 25pc when compared to 2011, according to the latest figures from Vision-net. However, despite the fall in the number of judgments, there was an 11.6pc rise in the average value of judgments in 2013 (€72,715) when compared with 2012 (€65,149) and a 31pc rise when compared with 2011 (€55,411). Vision-net’s figures show that 1,754 commercial judgments were awarded in 2013, an 11.4pc fall on 2012 and 38.5pc fall on 2011. The total amount of judgments awarded against creditors was €71.5m. Of these, 577 judgments worth €22.7m were awarded…

Construction work has commenced this week to convert the former Montrose Hotel on Dublin’s Stillorgan Road into high spec student accommodation for 192 residents from September 2014. Montrose Student Residence, on the doorstep of UCD, will target third-level and graduate students Dublin-wide through the academic year and international language students during summer months. It will offer a total of 192 en-suite bedroom units, arranged in a choice of five to eight bedroom ‘cluster flats’ each with communal living, kitchen and dining areas. It will also offer 24/7 security and a call out service, on-site laundry and car and bicycle parking spaces. Utilities, broadband internet, and contents insurance are all included…

Europcar Ireland has reported an 11pc increase in its peak fleet numbers to more than 5,000 vehicles and that it surpassed 900,000 rental days in 2013. It is now operating in the number three slot in Ireland’s main airports after a successful Dublin Airport Authority (DAA) tender and has also recently opened four new branches in Galway, Athlone, Waterford and Cavan. Colm Menton, CEO of Europcar Ireland said: “We can pinpoint the success in 2013 to the significant influx of tourists during the year of The Gathering and also through a change in behaviours by the corporate sector choosing to rent their fleet rather than buy. “The successful tender with…

TV3 has announced the sale of its corporate debt to long term shareholder Doughty Hanson. The corporate debt of TV3’s parent, Tullamore Beta, was included in the sale of IBRC’s assets by the special liquidators KPMG. In the Evergreen tranche, the debt was sold through an open auction process. The bid by Doughty Hanson was majority financed by BlueBay Ireland Corporate Credit I Limited. TV3 said the new lending facilities are long term and at commercial rates. As part of the re-financing package the company said it has also entered into new banking arrangements with Ulster Bank, providing the full range of working capital and banking facilities required by the…