Shannon region jobs down 4pc in 2010
WHILE the numbers employed in the Shannon region declined by 4pc in 2010, tourism made a comeback and 362 new jobs were created in the Shannon Free Zone.
That’s according to the 2010 Annual Report from Shannon Development, which also showed that the tourism recovery has extended in to this year with a 12pc increase on tourism business so far. The tourism industry in the region was worth €39m last year and employed more than 25,000 people. The report also said that tourism projects valued at over €14m were secured last year for the region.
These included a €5.7m fund to redevelop King John’s Castle in Limerick city. About 57 jobs will be created by this project – 40 during its construction phase and 17 full time jobs once work is complete in 2012.
45 jobs promised at 24 start up firms
SOME 45 new jobs are to be created by high potential start-up companies supported by Enterprise Ireland in the second quarter, according to enterprise minister Richard Bruton.
Nearly 200 of the jobs will be in Dublin, with the rest in counties Clare, Wicklow, Waterford, Offaly, Cork and Kildare.
In a statement, Mr Bruton said the posts will come in 24 new firms aided under the “high potential” start-up programme of the jobs agency.
“If we are to rebuild the economy and create the jobs of the future in Ireland, we must not only continue to attract high-end multinational companies,” Mr Bruton said, “but we must also crucially ensure that more high potential small businesses can establish and expand here.
Bank of Ireland posts losses
BANK of Ireland’s pre-provision profit shrank two thirds in the first half on the back of steep funding costs, underlining the challenge facing the country’s largest lender despite its fresh investor base and falling impairment charge.
The only domestic lender to avoid effective nationalisation, Bank of Ireland’s success in attracting private capital has helped fuel a rally in Irish sovereign debt prices.
But only half of Bank of Ireland’s loan book is sourced domestically helping to cut impairments by 22 pc and nearly halving its underlying pretax loss to €723m. Operating profit before provisions fell two thirds to €163m as competition for deposits, higher funding costs and rising fees for a government guarantee ate into margins.
Bank of Ireland’s lower provisioning charge contrasted with rival AIB whose impairment charge rose nearly a third in the same period. AIB has been effectively nationalised to shore up its capital base.
Apple becomes largest US firm – briefly
APPLE briefly edged past Exxon Mobil this week to become the most valuable US company, displacing an old economy stalwart and heralding an era where technology holds sway. Although Apple slipped back to the No. 2 spot after the close of business on Tuesday, market watchers said it is simply a matter of time before the company that defined the smartphone and tablet markets with the iPhone and iPad ascends the top.
The technology giant’s market value rose to USD 341.5bn in severely choppy afternoon trading, just above Exxon’s USD 341.4 bn, even though the oil major’s annual revenue is four times that of Apple’s.
