NTMA to hold Bond Auction on 8th May
The National Treasury Management Agency (NTMA), which manages the national debt, announces that it will hold a bond auction tomorrow, 8th May. The auction will be conducted on the Bloomberg Auction System and will be confined to recognised primary dealers. A non-competitive auction for 15 per cent of the amount sold in the competitive auction will immediately follow and will close at 10:00 am on Friday 9 May.
Retail Ireland urges Government to cut income tax
Retail Ireland, the national representative body for the entire retail sector, in advance of a conference in Dublin today, has called on the Government to cut income taxes, promote better regulation for the sector and do nothing to add to business costs and claimed that the sector has the potential of creating 40,000 new jobs in the sector in coming years.
Ikea’s plan for ‘flagship’ store in Cherrywood will not proceed
Ikea , the Swedish household goods multiple, will not be permitted to proceed with its plans for a new 35,000sq m “flagship” store in the Cherrywood area of south Co Dublin. Depending on the outcome of a joint study by the council, the NRA and the National Transport Authority , the council could “at some stage in the future” vary the planning scheme for Cherrywood by including provision for a “large-scale retail warehouse”.
€130m for Nama Acorn Portfolio
Joint agents Bannon and JLL have been appointed to handle the first single lot sale of a NAMA shopping portfolio comprising Blackpool Shopping Centre and Retail Park in Cork, Millfields, Balbriggan, Co Dublin and The Showgrounds, Clonmel, Co Tipperary, at a guide price of more than €130 million. At that valuation, the portfolio will show an initial yield of about 9.6 per cent.
Retail Sales Recovery Continues
There is mixed commentary when it comes to the CSO published yesterday.
Retail Ireland, the Ibec group that represents the retail sector said CSO figures for retail sales in March were very disappointing and showed no change in sales in shops around the country. In fact, core retail sales volumes, excluding motor trade, rose by 2.6% in the first quarter while overall volumes rose by approximately 9%.
Ernst and Young to create almost 500 new jobs in Belfast
Accountancy and consultancy firm Ernst and Young, known as EY, is to expand its operation in Belfast with creation of nearly 500 new jobs. EY which already employs 1,450 people across its five offices in the Republic and Northern Ireland, said the 486 new roles which will be phased in over the next four years would be in various business consultancy fields, including auditing. These new jobs will contribute £19 million in salaries to the local economy.
