Practicenet News

THE National Asset Management Agency (NAMA) needs to look at introducing performance bonuses to help attract and retain top talent, the agency’s chairman has said. Frank Daly told TDs yesterday that there needed to be some sort of a retention plan to encourage staff to stay. NAMA staff are paid on average €90,000 but Mr

AROUND 680 buy-to-let mortgages which are in arrears have been sold to Germany’s biggest bank by Danske Bank, as the Danish lender withdraws from Ireland. The former National Irish Bank mortgages were sold by Copenhagen-based Danske Bank to Frankfurt-based Deutsche Bank, the Bloomberg news agency reported yesterday. The mortgages had been put up for sale

Maximum passenger charges that can be levied at Dublin Airport could plunge after the aviation watchdog said they should fall by more than a fifth by 2019. The Commission for Aviation Regulation (CAR) issued a draft determination on the passenger charge structure it proposes should be implemented at Dublin Airport between next year and 2019.

Aran Candy, the Dublin-based company that produces confectionery under ‘The Jelly Bean Factory’ brand, has sold a majority stake to Swedish confectionery firm Cloetta in a deal valued at €15.5m. The Swedish company has bought a 75pc stake in Aran Candy for €15.5m. Aran Candy was founded in 1998 by father and son Peter and

A new €500,000 fund aimed at graduates is hoping to encourage more young entrepreneurs to strike out on their own. The Enterprise Ireland Competitive Start Fund, which will open to applications on July 9th, will offer up to €50,000 in support for each successful applicant. Targetted at businesses involved in activities such as the internet,

STATE-owned AIB has proposed a new payment structure for its non-executive directors which will see their basic yearly fee more than double, but other payments cut. Fees for duties like attending meetings, serving as a committee chair or on the board of a subsidiary company are all being reduced. The bank said the new structure,

BANK of Ireland says it is significantly ahead of targets to restructure problem mortgages set by the Central Bank. Offers were made to 64pc of customers who are three months or more behind on their home loan, against a target of 50pc set by authorities. Deals had been completed in relation to 40pc of the

HOUSANDS of Permanent TSB customers have failed to receive payments overnight due to a third party technical glitch. The delay-payments issue is currently being rectified and is expected to be fixed within a few hours.

Ireland has the most efficient business tax system in the EU, a new report shows. Consultants PwC and the World Bank ranks Ireland sixth in the world and first within the EU for the ease with which a business based here can pay its taxes.

European Central Bank Governing Council member Christian Noyer said today that interest rates have to remain low for an extended period.