Business News
Enterprise technology giant Oracle’s main Irish arm bounced back from a near €500 million loss last year as it acquired $11.4 billion in intellectual property rights from another group company by way of a promissory note. Oracle EMEA Limited, which employs more than 1,400 people in Ireland, recorded a €504 million pretax profits for the year ending […]
Nearly 29,000 Irish nationals returned home to live and work in the year to the end of April, the highest number for 13 years. Figures published by the Central Statistics Office (CSO) show the overall population rose by 1.1 per cent, or 55,900 people, year-on-year to 4.98 million. An increase of 1.3 per cent, or 64,500 individuals […]
While Covid-19 has had a devastating impact on the global economy with a long recovery to follow, certain sectors have benefitted from its effects. Not just retail giants such as Amazon but small and scrappy Irish start-ups have experienced growth and even secured funding in these tumultuous times. Lasting memories of lockdown will be grocery-related: queuing for […]
Offr, a property tech startup co-founded by former Savills and Allsop / BidX1 auctioneer Robert Hoban, has raised €3m in funding from Barclays Bank and a group of angel investors and venture capital firms. Offr is the first Irish company to receive a follow-on investment from Barclays through its London accelerator programme. The bank and […]
The dramatic rise in the Government deficit this year does not make it more likely that Ireland will default on the national debt, according to analysts at Moody’s. The ratings agency has kept its stable A2 credit grade for Ireland, citing strong growth prospects once the Covid-19 threat is contained. “Our credit view of Ireland […]
The Irish economy will contract by 8.5 per cent this year as a result of the economic shock triggered by the coronavirus pandemic, ratings agency Moody’s has warned. The agency, which had previously predicted only a small economic contraction of 1.6 per cent of gross domestic product (GDP), said the Government’s prudent management of the […]
Gas Networks Ireland has reduced its carbon footprint by 27pc over the past ten years, according to the company’s 2019 Sustainability Report released today. The networks operator plans to reduce its carbon emissions further going forward, both within its own operations and from decarbonising the gas transported through the network. It also has a 99pc […]
Nearly two-thirds of businesses fear another lockdown, while one in five is trading at a loss, a CSO survey has found. KBC Ireland economist Austin Hughes said the figures showed that most firms have proved surprisingly resilient – but a large minority would risk collapse if a Covid-19 surge forced a second lockdown. The survey, […]
There is a popular trope in the narrative surrounding the origins of a successful enterprise, usually centring around working from a back bedroom, the kitchen table or from the garden shed. But the truth about successful start-ups and SMEs is usually a lot more prosaic. On top of a great idea and business plan, there […]
Staycations and the reopening of hospitality and leisure venues have spurred gas demand to near normal levels. But while overall gas demand climbed 4.1pc in July compared to June, it remains 3.7pc lower than a year ago, according to Gas Networks Ireland. Gas demand in the hospitality and leisure sector was just 1pc below where […]