Matt Cooper and Aidan Gough

The fourth annual Irish Times InterTradeIreland Innovation Awards have been launched with a closing date for applications of 3 December 2012. Companies can enter in one of six categories in the 2013 awards: agri-food innovation; life sciences innovation; greentech innovation; business services innovation; social innovation; creative industries innovation. Each category winner will secure a €10,000 Irish Times media deal and compete to win the overall title of ‘Innovation of the Year’ which awards the winner with a communications and advertising package from The Irish Times worth €150,000. In addition, a University College Dublin scholarship for an executive education programme commencing in 2014, an i-Pad and a consultancy package will also…

Read More
Bank of Ireland adds €275m to agri investment fund

Bank of Ireland has announced a €275m increase to its €200m Agri Farm Investment Fund, as part of a number of initiatives aimed at supporting growth of the agri sector. The increase, along with the €25m working capital fund, which was launched in July, adds up to a cash boost of €500m available to the sector since July 2011. The new initiatives include AIB’s Agri Development Loan and Agri Credit Line. Regarding the loan, farmers who are developing their farms to cater for increased dairy output post 2015 may avail of interest only repayment terms in certain circumstances. The bank aims to support these farmers’ cash flows until milk quotas…

Read More
745m invested in UK and Irish tech companies in H1 2012

Some £596m (€745m) has been invested in UK and Irish tech companies in the first half of this year, the highest amount in more than a decade, according to new figures from London-based corporate finance advisory company, Ascendant. In the second quarter of 2012, £297m (€372m) was put into 60 UK and Irish companies by 102 investors. This compares to an investment of £234m (€293m) in Q2 2011 invested in 48 companies by 70 investors in the second quarter of 2011. “When added to our figures for Q1 that makes £596m invested in 124 companies in the first half of 2012,” saidStuart McKnight, managing director of Ascendant. “It is worth…

Read More
Bribery and corruption has risen since the downturn

Organisers of the Jobs Expo 2012 event, which was held earlier this year, have said it will return to Dublin this September due to popular demand. This time the event, which will be free of charge, will be held in the Hogan Suite of Croke Park, and will take place on Friday, 28 and Saturday, 29 September from 11am to 5pm. Advice and career opportunities will be available from companies located both in Ireland and abroad such as the British Columbia Construction Association whose members are looking to fill positions in the Canadian province for carpenters, welders, iron workers, plumbers, pipelayers, mechanics, crane operators and sheet metal workers. The exhibition…

Read More

Limerick Institute of Technology (LIT) has announced a significant stimulus for the Limerick and Mid-West region’s economy with the unveiling of its €200m+ ‘Campus 2030 Masterplan’. The Masterplan, launched by Minister Jan O’Sullivan at LIT’s Limerick School of Art & Design (LSAD) city centre campus today, is in response to growth across LIT discipline areas such as art and design, engineering and humanities. It also reflects the expansion in LIT’s Enterprise Centres and the applied research capabilities, which were not part of the original masterplans when the campuses were developed during the late 1990s. The investment will see an additional 50,000sq metres of facilities of new facilities as well as extensive refurbishment…

Read More

Paddy Power has reported a 21pc increase in pre-tax profits to €68.7m for the first half of the year, despite what it said were some adverse sports results since its May trading update. The company said net revenue grew by 29pc to €311m in constant currency, with double-digit growth in every division. The total amount staked by customers was €2,741m during the period. And it noted that four new online ventures had been established with start-up losses of €6.3m in the period. In online, Paddy Power said there was accelerated growth in scale, new customers and new business investment. Online customer acquisition was up 50pc, active customers increased 41pc to…

Read More

The Burlington Hotel in Dublin 4 is on the market with a guide price of between €65m and €75m. The 4 star hotel, which has 501 bedrooms and extensive conferencing facilities on 3.9 acres of land, is being sold through CBRE Hotels on behalf of receiver Paul McCann of Grant Thornton. In 2007, property developer Bernard McNamara bought the hotel for €288m. McNamara had planned to demolish the building in favour of a new office and commercial development. According to CBRE Hotels, the Burlington is by far Dublin’s largest hotel and the “sale represents a rare and unique opportunity to acquire a substantial unbranded freehold property in the heart of…

Read More
Liam FitzGerald

United Drug has this morning announced two US acquisitions for a total consideration of up US$40m. The Irish-headquartered healthcare services provider has reached agreement to by Drug Safety Alliance, which provides safety and risk management services relating to the detection, assessment, analysis and reporting of adverse drug reactions, for up to US$28m. Of this, US$21m will paid on completion, while up to US$7m will be paid after three years based on reaching agreed profit targets. DSA is based in North Carolina and employs 94 people. United Drug said DSA is complementary to its US medical information business, Alliance, and will allow it to offer clients an integrated call centre and…

Read More
airport departure

Half of Irish consumers in a survey booked a holiday this year, spending on average €927, with those traveling abroad spending more, according to the latest KBC Savings Barometer. According to AAACreditGuide, if you are looking for loans, especially in the areas of auto loans , there are many aspects of the process you must know and understand to get the best terms and rates available to you, regardless of where you live or where you work. Those holidaying outside of Ireland spend on average €1,016 compared to those who opt for a ‘staycation,’ who pay in the region of €785. Unlike during the Celtic Tiger years, consumers are now saving for…

Read More

Ardagh Group has announced that it has received US regulatory approval and completed the acquisition of the US-based Anchor Glass Container Corporation from private investment funds managed by Wayzata Investment Partners LLC. The transaction involved a total cash consideration of US$880m (€721m). Anchor, which is headquartered in Tampa, Florida, is a technologically advanced manufacturer of glass containers serving the North American food and beverage industries. It is the third largest glass container manufacturer in the US, producing approximately 5.6 billion containers annually from its eight facilities and employing approximately 2,700 people. Anchor has annual revenues of around US$800m (€656m). Ardagh Group is a global leader in rigid packaging, producing metal…

Read More