The report, launched by cable operator UPC and research firm Amarach, predicts up to 150,000 new jobs from what it calls the Irish internet economy.
It says that consumer spending will make up 60pc of this surge in online activity. The report found that 60pc or €3.5bn of Irish spending currently goes abroad.
The European Central Bank is poised to impose negative interest rates on its overnight depositors, seeking to cajole banks into lending instead and to prevent the euro zone falling into Japan-like deflation.
At its meeting on Thursday, ECB policymakers may also launch a loan program for banks with strings attached to make sure the money actually gets out into the euro zone economy.
It will be the first of the “Big Four” central banks – ECB, Bank of England, Bank of Japan and U.S. Federal Reserve – to go the negative interest rate route, essentially charging banks to deposit with it.
EMPLOYMENT in Ireland’s manufacturing sector rose at its fastest pace last month for 15 years, data shows.
Output increased for the 12th month running, with the rate of expansion remaining sharp despite slowing from the previous month.
Higher sales was the main factor leading to an increase in production, according to the latest Purchasing Managers’ Index for the sector.
Dr Varadkar said consumer research amongst passengers and business customers showed that most did not want a rebranding. The name DAA excludes Cork Airport, which is also under the authority’s control.
“The response to a proposed name change was firmly negative and considered to be unnecessary, unwarranted, a waste of money and potentially damaging to the reputations of the Dublin Airport Authority and Government,” Dr Varadkar said.
IRISH and British business leaders fear political instability more than any other threat, according to a new report.
Almost a third of Irish and UK business leaders are worried about political instability while under a quarter worry about the end of the Federal Reserve’s quantitative easing programme. A fifth are concerned about slow growth in emerging markets.
Eurozone manufacturing growth slowed more than initially thought last month, a business survey showed yesterday, fuelling expectations that the European Central Bank (ECB) will ease policy this week.
Markit’s final Manufacturing Purchasing Managers’ Index (PMI) slipped to a six-month low of 52.2 in May from 53.4 in April as strong figures from Germany failed to offset a contraction in activity in France. Figures for Ireland will be published this morning.
IRISH manufacturing activity grew for the 12th month running in May, albeit slowing slightly from April, while companies in the sector took on staff at the fastest rate in 15 years, a survey has showed.
The Investec Manufacturing Purchasing Managers’ Index slipped to 55.0 in May from 56.1 in April, but remained well above the 50 line dividing growth in activity from contractions.
Growth in new export orders helped lift the subindex for job creation in the manufacturing sector to 56.4 from 54.5, its highest level since 1999, the survey’s authors said.
THE National Asset Management Agency (NAMA) needs to look at introducing performance bonuses to help attract and retain top talent, the agency’s chairman has said.
Frank Daly told TDs yesterday that there needed to be some sort of a retention plan to encourage staff to stay.
NAMA staff are paid on average €90,000 but Mr Daly said 15 people had left the agency already this year.
AROUND 680 buy-to-let mortgages which are in arrears have been sold to Germany’s biggest bank by Danske Bank, as the Danish lender withdraws from Ireland.
The former National Irish Bank mortgages were sold by Copenhagen-based Danske Bank to Frankfurt-based Deutsche Bank, the Bloomberg news agency reported yesterday.
The mortgages had been put up for sale some time ago with a price tag of around €100m.
Maximum passenger charges that can be levied at Dublin Airport could plunge after the aviation watchdog said they should fall by more than a fifth by 2019.
The Commission for Aviation Regulation (CAR) issued a draft determination on the passenger charge structure it proposes should be implemented at Dublin Airport between next year and 2019.
The maximum charge that can be levied per passenger at Dublin Airport, which is controlled by the Dublin Airport Authority (DAA), is currently €10.68.
