The News

SBCI launches €45 invoice financing fund for SMEs with Bibby Finance

The Strategic Banking Corporation of Ireland (SBCI) and Bibby Financial Services Ireland (BFSI) have launched a new €45m invoice financing fund for small and medium enterprises (SMEs). The new fund makes more favourable rates for BFSI’s invoice finance facilities accessible for Irish firms and is available immediately. Invoice financing frees up cash for company by […]

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EU states back deficit sanction procedure for Spain, Portugal

European Union finance ministers endorsed on Tuesday a deficit sanction procedure for Spain and Portugal, paving the way for the EU executive to propose possible fines in the next 20 days. The European Commission said last week that Madrid and Lisbon had not done enough to correct their excessive budget deficits last year and in […]

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Irish GDP growth at staggering 26.3pc last year, economist says figures are ‘meaningless’

The Irish economy grew, in GDP terThat’s dramatically faster than the 7.8pc growth rate estimated in March, the Central Statistics Office said this morning. The dramatic hikes were due to contributions from the likes of the aircraft leasing sector and multinationals -increases in the stock of capital assets of companies, company relocations, a massive jump […]

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European stock markets seen opening higher

European stock markets were seen opening higher on Monday, according to pre-market calls from financial bookmakers, tracking gains on Asian and US equity markets. Britain’s FTSE 100 was seen opening up by 30-34 points, or 0.5pc higher. Germany’s DAX was seen up by 91-98 points, or 0.9-1.0pc higher, while France’s CAC . was seen up […]

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Construction expansion rate speeded up in June – index

The pace of construction sector expansion quickened last month, new figures indicate. Faster rates of activity, new orders and employment were all recorded in June, according to the Ulster Bank’s Purchasing Managers’ Index (PMI). The benchmarked index provides a snapshot of economic performance. It recorded the fastest increase in constriction activity for three months. Simon […]

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‘We are copying Ireland’ – UK’s tax cut to boost FDI

Cutting the UK’s corporation tax rate to 15pc would boost foreign investment there by almost 11pc and reverse any declines suffered as a result of Brexit, a think tank has said. Chancellor George Osborne has unveiled plans to aggressively cut the country’s corporate tax to less than 15pc to woo businesses deterred by Brexit. That […]

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US Revenue demands answers on Facebook’s Irish assets

US officials have gone to court demanding answers from Facebook about the tax due when the social media giant moved key assets to Ireland. It is claimed that the value of assets transferred by Facebook to its Irish subsidiary in 2010 may have been “understated by billions of dollars” by the social media giant’s accountancy […]

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