Mexican telco billionaire Carlos Slim has topped Forbes magazine’s world’s rich list as billionaires from emerging markets grow and an American has not occupied the top ranking for the first time since 1994. Denis O’Brien is Ireland’s top billionaire and Sir Anthony O’Reilly has been dropped from the list.
Markets news on stocks, currencies and oil; Deutsche Bundesbank’s president, Prof. Axel Weber, said in Dublin today that more bank capital is preferable to the US Volcker Rule, named after former Federal Reserve chairman Paul Volcker.
The Government announced today that it will invest up to €56 million over the next five years in a network of “transformational” competence centres that will support companies in the smart economy, the Tánaiste Mary Coughlan announced today.
Today Minister for Transport, Noel Dempsey TD announced his mandate to the Dublin Airport Authority (DAA) to operate Terminal 2 - -T2 — , while demonstrating that it can do so within a benchmark set by the Commission for Aviation Regulation (CAR). This follows a decision to terminate the facility management procurement process relating to Terminal 2 at Dublin Airport.
The Central Bank today published new statistics on securities issued by entities resident in Ireland. The new dataset contains information on the outstanding amount of external Irish debt and equity securities by sector of issuer, at end-December 2009 and end-January 2010. Debt of almost €1.1 trillion is mainly accounted for by the IFSC, Dublin’s offshore financial services centre, which has a debt of €789.1 billion.
Aer Lingus Group today announced that it has now disclosed to cabin crew representatives measures to achieve the cost savings originally contemplated under the cost reduction programme announced in October 2009.
Food group Glanbia today reported a 19% fall in pre-tax profits for the year ending 2009. The group also announced its majority shareholder is interested in acquiring Glanbia’s Irish dairy operations.
China’s exports jumped by 46% in February compared with a year ago, confirming the robust recovery in the Asia region. China’s imports also rose strongly, climbing by 44.7% last month.
Principal news stories from the Irish Independent, Irish Times, Irish Examiner, Financial Times and New York Times.
The taskforce on innovation in Ireland that was established by Taoiseach Brian Cowen in June 2009, is reported to have projected that almost 120,000 new jobs could be created by the end of the decade, if Ireland transforms itself into an innovation centre, according to a report to be published on Thursday. However, a reality check is necessary as this body is dominated by insiders, who have form in plucking jobs figures from the air to justify spending by receptive politicians. Meanwhile, Bart Clarysse, professor of Entrepreneurship, at Imperial College London, said in 2009 that in the UK there are over 2,900 of high-tech companies that have been in business since 1991. Despite spending over £2.5 billion, they are responsible for only 40,000 jobs.
