Categorized as: Syndicated News

Fitch may change outlook but no upgrade likely, analysts say

A LOT has happened since Fitch last updated Ireland’s credit rating in early October.

Budget 2014, an assessment of bank balance sheets and a little thing called the bailout exit have all concluded since then.

So while investors and analysts eagerly awaiting Fitch’s latest update on Ireland’s credit-worthiness aren’t expecting miracles,

NAMA to sell off loans worth €2bn this week as agency speeds up sales

NAMA is putting around €2bn of loans on the market this week, as the sell-off of its Irish portfolio continues.

The news comes amid speculation that the Government will press the agency to radically speed up its sale of Irish assets in order to radically shorten its original 10-year timescale to work out property loans.

Nama to put €2bn in loans on the market this week

The National Asset Management Agency will place some €2 billion in loans on the market this week.

Most of the borrowings, about €1.8 billion, are related to developer Michael O’Flynn and will represent the biggest portfolio to be sold by the agency to date.

Mr O’Flynn, among Nama’s 10 biggest debtors, has loans secured on properties in Ireland, the UK, Germany and Spain, with the Irish properties including Cork’s Elysian …

ESRI expert warns of housing shortage

Young people will end up living with their parents until they are 35 unless the housing supply increases, Economic and Social Research Institute research professor John FitzGerald has said. “We need to go back to building 25,000 houses per year or all the young people will end up living with their parents until they are 35,” he said at the Trinity Economic Forum at the weekend. Prof FitzGerald drew much …

‘Slow’ growth for office rents despite market recovery

TOP office rents are set to rise by only 10pc this year, according to estate agents HWBC, even as the market continues to recover.

In its annual review of the office market, the firm said about 179,000sqm worth of office space was taken up in 2013, as rents in prime areas rose by as much as 15pc.

Value of exports slump pushing trade surplus to 2008 levels

THE value of exports slumped 5pc last year, pushing the annual trade surplus to its lowest level since 2008 as the impact of pharmaceuticals coming off patent kicked in.

Eurozone GDP grows by 0.3pc in fourth quarter, beating expectations

The euro zone economy expanded by 0.3pc in the fourth quarter of 2013 from the previous quarter, beating expectations.

Department of Finance: No changes in law to allow banks hike charges without Central Bank green light

THE law will not be changed to allow banks increase consumer charges without Central Bank permission, the Department of Finance has decided.

Motorists and small firms face insurance hike as Setanta closes

THOUSANDS of motorists and small firms that have commercial vans will be forced to find a new insurer after Dublin-based Setanta Insurance said it was winding up its business here.

Business brisk but wages will stay flat for rest of 2014 – survey

MORE Irish businesses reported rising output in the final months of 2013 than at any point in the last six years, a new survey has found.