Latest Dublin News
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Irish government releases hotly-anticipated report recommending Pensions Board merger
Merges between the Pensions Board and the Financial Regulator, and the Pensions Ombudsman and the Financial Services Ombudsman, have been recommended in the Irish government’s ...
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Irish funds continue to record positive results
Irish pension managed funds have succeeded in another consecutive month of positive returns, according to both Hewitt Associates and Rubicon. ...
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Ireland on track for bailout exit says IMF
Reuters © International Monetary Fund (IMF) Managing Director Christine Lagarde talks to Ireland's Finance Minister Michael Noonan (R) during an euro zone finance ministers meeting at the European Union Council in Brussels February 11, 2013. REUTERS/Francois ...
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British Irish Lions Pride has taken a little dent
British & Irish Lions . The first choice side have been rolling along nicely and as such their leading players were probably wrapped up in Lions branded cotton wool and told to watch Tuesday's game from an oxygen chamber. Few of the players involved in the 14-12 defeat will have realistically been able to force their way into the Test side for Saturday's match against Australia, ...
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Mars had oxygen-rich atmosphere before Earth say scientists
On Earth, oxygen did not build up to appreciable quantities in the atmosphere for at least another 1,500 million years. Scientists compared Martian meteorites that have crashed onto the Earth and data from rocks examined by the American space agency Nasa's Spirit ...
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PSNI hail ‘most peaceful and secure’ G8 summit in history
A protester dressed as Osama Bin Laden at the security fencing outside the G8 summit in Lough Erne, Co Fermanagh. Photograh: Paul Faith/PA ...
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Three fishermen rescued off Donegal coast
Three fishermen are being airlifted to hospital in Letterkenny after their boat sank in Lough Swilly. Local lifeboats, the Sligo based rescue helicopter and the Coastguard were called to the scene. One of the men is reported to be in a serious condition. All three are being brought to Letterkenny General Hospital. The boat sank off Dunaff, on the northern end of the ...
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Ryanair Will Fight for Its Stake in Aer Lingus
Michael O'Leary, chief executive of the European budget airline, predicted Wednesday that the protracted dispute over its 30 percent stake in Aer Lingus would not be over soon, no matter what the final decision is next month by British regulators, whom he accused of ...
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Threat from dissident republicans remains ‘severe’
"The Garda assessment, shared by the PSNI, in relation to the terrorist threat level in Northern Ireland is that it is regarded as severe," Mr Shatter ...
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Walsh becomes third Fine Gael Oireachtas member to oppose abortion legislation
Fine Gael TD Brian Walsh, who has become the third member of the parliamentary party to confirm they will not back the Government's abortion legislation, has predicted the figure will rise to ...
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Agri industry puts pressure on Coveney to secure best EU farm deal
Mr Coveney is aiming to secure agreement on the new farm policy deal between the European Commission, EU agriculture ministers and the European Parliament, before Ireland's term as host of the EU presidency ends in less than two ...
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Irish funds back in the black
At last some positive news for Irish Pension funds, with Hewitt’s monthly Managed Fund Index reporting that the month of April 2009 returned 8.7 per cent. The global human resources services company released the monitor, which is an indicator of Irish Pension Managed Fund performance, which shows a continuing increase in returns, with March figures standing at 2.6 per cent. ...
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Ireland granted further pension protection
Ireland’s defined benefit (DB) pension scheme members will gain further support with news that a new Pensions Insolvency Payment Scheme (PIPS) is to be introduced in the Social and Welfare and Pensions Bill 2009. Minister for Social and Family Affairs, Mary Hanafin T.D., announced that the new development will assist employees and former employees of companies where the employer ...
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Irish scheme assets drop not as bad as expected – IAPF
Irish pension scheme assets fell by 23% in 2008, the Irish Association of Pension Funds (IAPF) has reported as part of its annual asset allocation survey, which, says the association, is less than might have been expected given recent market conditions At year end, assets under management amounted to EUR 66.7bn compared with EUR 86.6bn at the end of 2007, which brings the total value of ...
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Irish private pensions ‘need support’ – IAPF
Irish private pension provision will be destroyed if the Irish Government goes ahead with a reduction in tax relief, says the Irish Association of Pension Funds (IAPF). Next month’s supplementary Budget will outline the proposals, and the IAPF has released a briefing paper in advance of this. It says that the reduction in relief on pension contributions to the standard rate would ...
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No letup for Irish pension funds
The credit crunch is not letting up on Irish pension funds, with February recording further losses of 5.7 per cent. In January, the average fund declined by 1.9 per cent, brining the return for 2009 so far to -7.5 per cent. The best performing manager during February was Standard Life Investments, with -5.0 per cent, and Irish Life Investment Managers delivered the worst performance of ...
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Cases mount up for Irish Pensions Ombudsman
The Irish Pensions Ombudsman saw a forty-three per cent rise in new cases compared to 2007, with the number of cases closed in 2008 up by ten per cent on last year. Around 450 cases are currently under investigation by the Dublin-based organisation, and its website has recorded over a third of a million hits annually. A statement regarding the provisional figures of the caseload in the ...
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Irish funds record huge 2008 losses
A turbulent 2008 took its toll on Irish pension funds, with recorded losses of €27bn as managed funds declined by 34.8 per cent, according to Rubicon Investment Consulting. Leading a dismal set of results was Setanta Asset Management, with a return of -29.6 per cent, and Hibernian Investment Managers was the worst performing manager with a return of -38.8 per cent. Rubicon has ...
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Irish DC funds given option to defer annuity purchase
A new option for members of defined contribution (DC) occupational pension schemes which will defer the purchase of a retirement annuity for a specified two-year period has been announced by Ireland’s Minister for Finance, Brian Lenihan. Under current provisions, member of DC schemes are obliged to purchase an annuity immediately upon retirement with their pension fund, after ...
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Sarasin carves way into Irish market
The UK subsidiary of the Sarasin Group in Switzerland has its new offices in Dublin, and business operations have begun with immediate effect. The National Gallery in Dublin will host the official launch event of the office on 19 November ...
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Irish pension funds lose third of value
Irish pension funds have lost a third of their value in just 12 months, falling by 33.4 per cent, according to investment consultant Rubicon. In October 2008 alone, Irish pension managed funds fell by 9.2 per cent on average, with the best performance coming from Eagle Star at -8.5 per cent. Irish Life Investment Managers delivered the poorest returns, with -10.5 per cent. So far in ...
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Irish market opens up to China
The Irish funds market has opened its doors to Chinese investors in a move by the Irish Funds Industry Association (IFIA). The Irish financial regulator, IFSRA, signed a Memorandum of Understanding one Thursday 23 October with the China Securities Regulatory Commission (CSRC) and the China Banking Regulatory Commission (CBRC), its Chinese counterparts. This will enable Chinese investors ...
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Pioneer Investments plans to break into Irish market
Pioneer Investments has revealed that it is to enter the Irish Institutional Market, launching its institutional business in Ireland as part of the company’s ongoing growth strategy. The business will be led by Dave Santry as head of institutional business development, Ireland, and will be supported by Kate Parker, vice president of institutional sales in the UK and Ireland. Paul ...
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Zurich Ireland outperforms market despite slump in new Life Insurance business
The Irish branch of Zurich (Eagle Star Life) has revealed that for the six months ending June 2008 it has outperformed the market, with Pensions Annual Premium new business of €47.4 million. The same period in 2007 saw figures of €42.8 million, 11 per cent less than the current situation. This outperformed the market average of zero per cent for regular premium business. ...
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Hewitt reports negative Irish returns
survey. The return was the same as the average manager in the survey, and although continuing market volatility has resulted in a wide dispersion of returns, a year to date the difference between the top and bottom performing manager was 5.4 per cent over the seven months. Canada Life/Setanta was the best performing manager over the month at -1.1 per cent, yet their return over the ...
In-Depth Dublin
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Dublin and Cork are finally linked by motorway
The National Transport authority recently announced to Dublin news media that upgrades to the final stretch of motorway between Cork and Dublin will be opened in 2010, brining to completion a massive infrastructure investment.
The massive upgrade of 250 kilometers of motorway and highway between Dublin and Cork is almost complete, linking the capital with the second largest city in the country. Read more
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