Bitesize Business: Brexit debate, investment, Dublin jobs

Economy, Employment, Finance | Thu 20 Oct | Author – Business & Finance
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Business & Finance brings you the day’s Irish business news in brief.

AMI announces 15 jobs and €1.1m investment

ami

IT retirement company AMI today announced that it will invest €1.1m and create 15 jobs by 2018 as it grows its business and increases its team to 50.

Available positions will include engineers, logistics personnel and warehouse staff as well as sales and business development professionals. The company plans to triple its Republic of Ireland business to €3m over the next three years.

AMI specialises in secure IT retirement services that can generate revenue back for customers from the safe disposal of older IT assets. It is among the world’s top seven companies for the quality of its secure data sanitisation processes, according to the world’s leading IT disposal standards body, ADISA.

One quarter of Ireland’s 200 largest IT user organisations already have their old IT devices retired by AMI.

Photograph: Donal McCann

€1.5m investment in Insight UCC by US research centre

ucc

Insight Centre for Data Analytics and Connecticut-based United Technologies Research Centre (UTRC) today announced an investment of €500,000 in cash and €1m in in-kind contribution in the Insight Centre for Data Analytics at University College Cork (UCC).

The research conducted at the Insight Centre as a result of this investment will focus on four key areas: artificial intelligence, data analytics and machine learning, human machine interaction, and optimisation in collaboration with United Technologies Research Centre staff.

UTRC is the research organisation and innovation engine of United Technologies Corporation (UTC), which provides high technology systems and services to the building and aerospace industries and employs approximately 200,000 worldwide. Having worked with researchers in Cork since 2010, UTRC’s latest investment represents the company’s largest in Ireland and the most valuable Targeted Project in Science Foundation Ireland’s Research Centres programme to date.

Tánaiste leads 23 Irish companies on trade visit to France

satellite

The Tánaiste and Minister for Justice and Equality Frances Fitzgerald TD concluded a two-day Enterprise Ireland trade visit to Cannes and the Cote d’Azur Region of France today.

23 Irish companies travelled to France on the Enterprise Ireland trade visit to build business relationships with their current and prospective counterparts in four key sectors in the region: animation, HR technology, construction services and space and aerospace technology.

Speaking about the importance of the visit the Tánaiste said; “This Enterprise Ireland trade visit has raised Ireland’s profile, positioned our companies as strategic partners across multiple sectors and demonstrated how Enterprise Ireland can act as a conduit to those world-class goods and services.”

During her visit to Thales Alenia Space, one of the main European actors in advanced satellite communication systems, details of a €360,000 contract awarded to Irish company ENBIO were announced.

Leading financial services practitioners gather for Brexit discussions

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Leaders from the world of financial services gathered at the offices of prominent Irish law firm McCann FitzGerald today for a seminar discussing the implications and opportunities for the financial services sector post-Brexit.

The seminar, organised by the British Irish Chamber of Commerce and McCann FitzGerald, involved three panel discussions which explored, in both a pre and post-Brexit context; issues arising that affect the financial services industry, the nature of post-Brexit access and relationships that UK (re)insurers could continue to have with the EU, and an insight into what opportunities are available for the sector.

John McGrane, director general of the British Irish Chamber of Commerce spoke of the importance of the IFSC’s relationship with the City of London in a post-Brexit environment: “The IFSC and the City of London should begin a process of forging closer links to the mutual benefit of both centres. The Chamber is uniquely positioned to participate in efforts to build these ties, especially because of our standing in both jurisdictions.”

Finance Bill 2016 published

bill

The Government has today published the Finance Bill 2016.

The Finance Bill 2016 is shorter than in previous years, containing 57 sections, the majority of which implement the changes announced on Budget Day together with a limited number of additional anti-avoidance measures and technical changes which are deemed to be important for the effective care and maintenance of the tax system.

The Bill includes the Budget Day announcements such as measures to implement the reductions in the USC.

It also includes a number of initial measures as a first response to Brexit, by extending the Foreign Earnings Deduction and Special Assignee Relief schemes until 2020, reducing the capital gains tax rate for entrepreneurs relief to 10%, allowing farmers to ‘step out’ of income averaging in a year of poor income, and introducing a fishers tax credit.

New Dealz store to create 35 new jobs

dealz

Discount retailer Dealz celebrated the opening of its 53rd store on Liffey Street, Dublin today. The newly opened store, located beside Dublin’s famous Ha’penny Bridge, will create 35 new jobs and will be the 14th store in Dublin.

Dealz country manager, Darren Jones, said: “We are delighted to be further expanding the Dealz portfolio in Ireland with our 53rd store opening on Liffey Street, the fifth store in Dublin city centre. At Dealz, we are committed to bringing amazing value every day to customers with our €1.50 price point and are looking forward to bringing an extensive range of products, offering amazing value to new customers around the Liffey Street area.”