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21/08/2008
Irish Banks Fund UK Airport Deal
Despite Ireland's continuing economic turbulence, the Bank of Ireland and Allied Irish Banks are reportedly financing a €392 million airport property purchase.
A UK hotelier and property developer Surinder Arora has revealed that the three institutions, led by Bank of Ireland, provided about €209 million for the deal, which includes the acquisition of 33 properties.
Reports of the completion broke a day after BAA completed a €16.8billion refinancing of its debt holdings.
The deal is said to be one of the largest of its kind.
In further aviation news, leasing company veteran Colm Barrington was yesterday named as the next Chairman of Aer Lingus, ending months of speculation on who would fill the post soon to be vacated by Spectrum's John Sharman.
The Dubliner is an extremely active director, sitting for over 125 companies, including several in the Cayman Islands.
Barrington comes to the former national carrier as it faces into one of the toughest winters the aviation industry has ever seen.
Weakening consumer demand and high oil prices are threatening several airlines into a financial nose dive.
(DW)
A UK hotelier and property developer Surinder Arora has revealed that the three institutions, led by Bank of Ireland, provided about €209 million for the deal, which includes the acquisition of 33 properties.
Reports of the completion broke a day after BAA completed a €16.8billion refinancing of its debt holdings.
The deal is said to be one of the largest of its kind.
In further aviation news, leasing company veteran Colm Barrington was yesterday named as the next Chairman of Aer Lingus, ending months of speculation on who would fill the post soon to be vacated by Spectrum's John Sharman.
The Dubliner is an extremely active director, sitting for over 125 companies, including several in the Cayman Islands.
Barrington comes to the former national carrier as it faces into one of the toughest winters the aviation industry has ever seen.
Weakening consumer demand and high oil prices are threatening several airlines into a financial nose dive.
(DW)
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Property Prices Increase Nationwide In August
Residential property price rose by 2.3% across Ireland in August, according to the Central Statistics Office (CSO). New figures from the Residential Property Price Index shows that this is a 0.9% increase from July and a 0.1% rise from June. In Dublin, prices rose by 2.8%, an 8.2% increase than the same period last year.
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Residential property price rose by 2.3% across Ireland in August, according to the Central Statistics Office (CSO). New figures from the Residential Property Price Index shows that this is a 0.9% increase from July and a 0.1% rise from June. In Dublin, prices rose by 2.8%, an 8.2% increase than the same period last year.
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Ireland WeatherToday:Some low cloud lingering in the north and west through the day, although cloud should burn back to the coast as the day goes on. Elsewhere some good sunny spells with very little cloud. Warm with light winds. Maximum temperature 22 °C.Tonight:A sunny evening for most except where cloud lingers along the north coast. Cloud will increase for a lot of areas overnight with mist and fog patches developing. Minimum temperature 7 °C.
