European Green Metals, a company chaired by serial entrepreneur Cathal Friel focused on exploring for rare metals needed for the green energy transition is planning to float on London’s junior market, according to sources. As Joe Brennan reports, the company has hired London broker Panmure Gordon to run the IPO, which could happen as soon as March.
Farmers will reap more than €2 billion from commercial timber sales over the next 12 years, a new forestry industry study calculates. Barry O’Halloran reports that Forest Industries Ireland, part of employers’ group Ibec, says it has analysed the value of timber likely to be sold by private growers, who are mostly farmers, up to 2035.
Barry also reports that a failure to lure new power plants is behind the squeeze on electricity supplies facing the Republic through this decade, according to Mark Foley, chief executive of national grid operator EirGrid.
A consultancy company owned by property developer Paddy McKillen snr and linked to his management of the luxury Maybourne hotel group set aside €25 million in 2022 related to revenue contracts currently subject to legal proceedings, new accounts filed in Dublin reveal. Ian Curran has read the accounts.
Ireland put forward its case for Dublin to be the location for the European Union’s new anti-money laundering agency on Tuesday, competing against eight other hopeful member states. Naomi O’Leary reports.
ICS Mortgages and Finance Ireland have moved separately to refresh their home loan offerings, helped by easing international borrowing conditions, after a period where they wrote very little business as central bank rates soared. Joe has the details.
In his column, Martin Wolf reflects on how well the Ukrainian economy has held up despite the Russian onslaught. It needs western help though, he warns.
It’s one of the happiest days of people’s lives, but also can be the most stressful. Brianna Parkins shows how to run your wedding on a budget.
Home Building Finance Ireland (HBFI), which was set up by the Government to fund new homes, grew its total loan approvals year-on-year by a third to €1.66 billion at the end of December. Colin Gleeson has the story.
Colin also reports that Intel has shipped the first batch of its most power-efficient processor, which it says will usher in “a new generation of personal computers” with dedicated AI and machine learning capabilities. The group said the processors, called Meteor Lake, signify the company’s “largest architectural shift in 40 years”.
With energy prices falling, labour costs will be the dominant driver of core inflation over the next two years, Central Bank governor Gabriel Makhlouf has said. In an address at University College Cork, Mr Makhlouf said the Irish economy had displayed resilience throughout “the overlapping shocks” of Covid-19 and the onset of the war in Ukraine but had “shifted on to a slower growth path in line with its current medium-term potential”. Eoin Burke-Kennedy has the details.
Eoin also reports that wholesale electricity prices fell 68 per cent last year as energy costs continued to decline from their 2022 peak, Central Statistics Office figures show, but consumers are still a while away from really seeing the benefits.
In Commercial Property, Ronald Quinlan reports on an apartment development in Blackrock in south Dublin on the block for €8.5 million while the historic Aghadoe House in Co Kerry is for sale for about €2.5 million.
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