Selling the chain of outlet centers is giving New York investor David Lichtenstein the cash to bail himself out of his worst deal ever: the top-of-the-market purchase of Extended Stay.

Investors who bought a 341-room Sheraton hotel in downtown Orlando, Fla., in November plan to convert it next month to Sonesta International Hotels’ first franchised property in the U.S.

A German investor is shrugging off Dubai’s real-estate slump and seeking funding to complete a $845 million project to build luxury housing on six reclaimed islands in the Persian Gulf.

Irish merchandise exports plunged 14% in October relative to September 2009 but were up by 11% in September compared with August, according to data from the CSO. Imports fell by 7% in October 2009 relative to September and were down 1% in September compared with August. On an unadjusted basis, the value of exports in October 2009 was down by 15% from October 2008, while the value of imports was down 30%. Exports to the UK were down 22% in the month of October.

Irish Economy: Earnings in the private sector fell by 3.1% compared with a rise of 1.3% in the public sector in the year to Q2 2009  — before deduction of the pension levy that was introduced in March 2009. In small firms (i.e. less than 50 employess) weekly earnings fell by 4.9%. In small firms (i.e. less than 50 employess) weekly earnings fell by 4.9% compared with rises in bigger firms.

IDA Ireland, the inward development promotion agency, on Monday issued a statement on its 2009 performance and said its support companies had lost a net 9,000 jobs in the year, while new companies investing in Ireland for the first time were at 37 - - a rise of 11% on 2008. However, there was no value put on the investments and it could be well be less than recent years. The total jobs in the agency-assisted companies, fell below the level in 2000.

Happy Christmas, Maligayang Pasko, Gōng Xǐ Fā Cái or Happy Holidays, if that is your fancy! We are in holiday mode from today but we will add some updates until Wednesday.

“Et tu brute,” some of the last words of  Roman dictator Julius Caesar, as he recognises his protégé Marcus Junius Brutus among his assassins, according to a version of history penned by William Shakespeare, in the play Julius Caesar. Betrayal of trust and its victims has been a multi-theme story in 2009 and apart from the administering of the last rites to Catholic Church authority, not much has changed in Ireland, in 2009.

Markets news on stocks, currencies and commodities: The CSO reported today that the Irish Public Sector payroll fell by 8,200 to 360,900 in the year to September 2009. Meanwhile average earnings rose 2.5%. Meanwhile, the Bank of Japan says it will not tolerate deflation.

German business confidence rose to 17-month high in December as the global recovery triggered a rebound in in exports and manufacturing growth. The business climate index ndustry and trade, rose to 94.7 from 93.9 in November - - the highest since July 2008.