Swiss bank UBS has pressured ex-bank executives to pay back or forego €45.2 million (CHF 70 million Swiss francs) in bonuses after record losses forced the bank to take aid from the Swiss state.
The ESRI today launched Handbook on Immigration and Asylum 2007, which is intended as a reference tool for people working in the area of immigration and asylum in Ireland.
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The European Central Bank is expected to cut its benchmark rate by at least 0.5% next week after plunges in Eurozone retail sales and economic confidence in November.
The global economic decline has put a damper on Dubai’s real-estate market. Now, the boomtown’s nascent advertising boom is feeling the effects.
The CSO said today that Irish merchandise exports held steady in the third quarter. Meanwhile, the Irish Exporters Association (IEA) today said that Irish exporters were finding it increasingly difficult to get credit insurance on their exports to Russia, Central America, South America, and Eastern Europe.
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In November, the Economic Sentiment Indicator (ESI) declined considerably in the EU and the Eurozone. This came after another sharp decline in sentiment observed in the October survey. It fell by 6.7 points in the EU and by 5.1 points in the Eurozone, to 70.5 and 74.9, respectively. The ESI for the EU stands at its lowest since January 1985, while that for the Eurozone is at the lowest since August 1993.
The Tánaiste and Minister for Enterprise, Trade and Employment Mary Coughlan T.D. today claimed that contracts worth €40 million in new export sales have been “signed” by Irish companies during the Enterprise Ireland trade mission to the United Arab Emirates (UAE) this week.
Finance Minister Brian Lenihan told the American Chamber of Commerce Thanksgiving Lunch today that Ireland is reasonably well placed to deal with the global economic challenges which have emerged. Public debt is relatively low; product and factor markets are very flexible, a fact borne out by various international studies and Ireland continues to invest heavily in the skills-set of its labour force, in recognition of the importance of human capital in an increasingly globalised economy.