Written by Foras Teamhrach
Irish Independent – 9th August 2011 – “Work on all major new road projects is being suspended because of spending cutbacks. The National Roads Authority (NRA) has been ordered by Transport Minister Leo Varadkar to stop work on them, the Irish Independent has learnt. This is in addition to the 40 projects [...]
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Written by Foras Teamhrach
“The managing director of Galway Airport has described the decision by transport minister Leo Varadkar to axe funding for the facility from next year as "crushing". Speaking to the Irish Independent yesterday, Joe Walsh claimed that the Department of Transport had "no interest" in supporting the airport and was "hell bent" on seeing it [...]
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Written by Foras Teamhrach
Irish Independent – “Eircom plans a further 1,000 job losses and is at risk of going into default at the end of the summer. The news came as Eircom announced financial results for the first three months of the year. Revenue for the three months to the end of March dropped 11pc, to €407m. That [...]
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Written by Foras Teamhrach
Irish Independent – “Sean Mulryan’s Ballymore Group has applied for planning permission for a massive new London development including 3,500 apartments and houses, and a new "high street and town square". The planning application, which is likely to involve an investment of several hundred million euro, comes weeks after Ballymore agreed a business plan with [...]
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Written by Foras Teamhrach
NAMA is offering non-NAMA banks the opportunity to take part in the €1 billion fund it is planning to establish to provide finance for property purchasers. The move could increase the size of the fund beyond NAMA’s €1 billion target and also help to address the shortage of mortgage funding. Meanwhile NAMA has also indicated [...]
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Written by Foras Teamhrach
“Irish banks have been state-guaranteed to the tune of €723bn since the start of the crisis, the second-highest figure in the 27-member bloc. The European Commission’s state aid scoreboard, which ranks countries in order of their reliance on government support, places Ireland second only to Britain, which has gained EU approval for over €850bn worth [...]
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Written by Foras Teamhrach
“The Government is edging towards accepting a multibillion euro bailout for the banks following intense pressure from the European Union to sort out our finances. To fend off being forced into a bailout for the entire State, Finance Minister Brian Lenihan is poised to agree to a bank injection to stabilise the euro and calm [...]
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Written by Foras Teamhrach
Last May, the Irish Independent reported that records of key Dublin Docklands Development Authority (DDDA) meetings around the time of the disastrous €426.8m Irish Glass Bottle site deal have gone missing. The DDDA stated that other records failed to properly reflect what transpired at meetings. It was discovered that the minutes of finance committee meetings [...]
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