Jehovah's Witnesses' Irish asset management firm not authorised, Central Bank says
Two directors of an Ireland-based asset management firm controlled by the Jehovah's Witnesses religious group have removed references on their LinkedIn accounts saying it is authorised by the Central Bank of Ireland.
Their removal of the references was effected this week after the Irish Independent put questions to the Central Bank about the status of the firm, Mina Asset Management. It is understood that the firm provides services solely to the Jehovah's Witnesses.
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Irish Independent
43 minutes ago
- Irish Independent
Cork outdoor recreation projects receive ‘major boost' of more than €600,000 in funding
The funding, a total sum of €608,550, has been provided from the Outdoor Recreation Infrastructure Scheme (ORIS). The overall fund is worth €8.7m and will cover 221 projects across Ireland including walking trails, cycleways, water-based amenities and mountain access routes. Fine Gael senator Eileen Lynch said she is 'delighted' to see the investment in outdoor projects in Cork. 'When projects are delivered, this funding will provide a major boost to the local economy by attracting visitors and furthering our reputation as a destination for adventure tourism,' Senator Lynch said. The Macroom-based senator said she is particularly delighted to see funding for IRD Duhallow and Cork County Council as these bodies 'provided so much joy for the community over the years.' 'This new funding is going to make a big difference for outdoor amenities in Cork, making them even better for local families and visitors alike. It's so important to get out and make the most of what our outdoors has to offer. 'I want to thank the community groups across Cork who work so hard to develop and enhance recreational amenities in our local community. 'These amenities are here for us all to enjoy. I really encourage everyone to get out there and enjoy the incredible outdoor spaces Cork has to offer', Senator Lynch concluded. ORIS provides funding in three separate measures. Measure 1 offers funding up €40,000 at a 90pc rate of aid for small scale repair/development/promotion or marketing. Maximum six applications can be submitted by each local authority and three applications can be submitted by each local development company. Measure 2 offers funding up to €200,000 at a 90pc rate of aid for medium scale repairs/upgrade and a new trails/amenity development. Maximum three applications can be made by each local authority and one application can be submitted per local development company or state body. Measure 3 offers funding up to €500,000 at a 90pc rate of aid for large scale repair/upgrade and or new strategic trail/amenity development. Local authorities and State bodies can submit one application each under this Measure. 11 Cork projects received funding under Measure 1. Avondhu Blackwater Partnership CLG received €31,050 to develop a car park and upgrade Ballard trail. The partnership also received €29,700 for Blackwater Way map boards and €31,505 for repairs along the Blackwater Way. Cork County Council received €40,000 to replace fencing between Belgooly walkway and Riverstick Estuary. The funding will also cover the installation of benches and street furniture. The local authority also received €40,000 for sea swimming infrastructure for east Cork beaches and €37,800 for sea swimming infrastructure on Great Island. The council also received €40,000 for upgrade works at Seefin car park on the Duhallow Way. IRD Duhallow CLG received a total of €120,000 for upgrade works in the area. West Cork Development Partnership received €40,000 for development of a new walking trail that connects Ballingeary village to Drom an Ailigh to Ceim Chorrbhualle. Four projects received approval from the Project Development Measure. Cork County Council received two separate allocations of €49,950, for works on Abbey Pier on Sherkin Island and the development of Skibbereen Recreation and Amenity Park. IRD Duhallow received €50,000 to map and screen off-road sections of the Beara-Breifne Way. SECAD Partnership CLD received €49.500 to carry out assessment surveys for the Ballycotton Cliff Walk in East Cork.
Irish Times
11 hours ago
- Irish Times
European markets fall back as they await outcome of summit on Ukraine
European shares came off multi-month highs on Friday, as declines in heavyweight tech and financial shares offset gains from some corporate earnings. Meanwhile, investors monitored a crucial summit between US president Donald Trump and his Russian counterpart Vladimir Putin over Ukraine. Investors hope the meeting could pave the way for a resolution of the Ukraine war, which has raged since February 2022. Dublin The Dublin market ended the week on a positive note, closing up half a per cent. Financial stocks were mixed on the day, with AIB and Bank of Ireland both edging lower by almost half a per cent each, while Permanent TSB was flat and insurer FBD gained 2.5 per cent to close at €14.35. READ MORE Food groups Kerry and Glanbia were both marginally lower, with Kerry down 0.13 per cent and Glanbia shedding 0.14 per cent. Insulation specialist Kingspan ended the week 1.7 per cent higher. Travel stocks rose, with Ryanair up 1.7 per cent and closing the day at €26.75. Shares in ferries group Irish Continental gained 1.45 per cent, closing the week at €5.60. London The FTSE 100 fell back after hitting a new all-time high to close lower on Friday. This was amid caution ahead of the US-Russia peace summit, hints of more tariffs and weak US consumer sentiment. The index closed down 38.34 points, 0.4 per cent, at 9,138.90. It had earlier reached an all-time intra-day high of 9,222.07. The FTSE 250 ended down 43.43 points, 0.2 per cent, at 21,758.24, and the AIM All-Share finished 0.86 of a point higher, 0.1 per cent, at 759.80. On the FTSE 100, mining stocks rose despite weak data from China. Anglo American rose 2.1 per cent, Glencore climbed 1.8 per cent and Antofagasta 1.2 per cent on hopes the soft figures will spark action from Chinese authorities. On a quiet day for company news, Associated British Foods ended up 0.2 per cent after confirming the acquisition of Hovis Group from private equity firm Endless. AB Foods plans to combine Hovis with its existing Allied Bakeries division to create a 'profitable UK bread business that is sustainable over the long term'. Europe The pan-European STOXX 600 index closed 0.1 per cent lower, after hitting a near five-month high earlier in the session. Aerospace and defence stocks fell 0.8 per cent ahead of the US-Russia summit on Ukraine. Technology stocks fell 0.6 per cent, weighing on the STOXX 600 index. ASML, the world's biggest supplier of computer chip-making equipment, fell 1 per cent after US peer Applied Materials lowered its fourth-quarter earnings forecast due to weak demand in China and impacts from tariff uncertainty. The Dutch firm had issued a similar warning in mid-July, saying it might not achieve its 2026 growth forecast. Chip stocks BE Semiconductor and ASMI dropped 3.3 per cent and 2.8 per cent, respectively. Healthcare shares, which have taken a beating this year from uncertainty around Trump's pharma tariffs, were on track for a recovery. The healthcare index logged its seventh consecutive session of gains, its longest streak since late January. Regional bourses were mixed, with Germany's DAX and the UK's FTSE declining, while France's CAC and Spain's IBEX posted gains. New York The Dow hit a record high earlier in the session, becoming the last of Wall Street's main indexes to soar to a new peak. Benchmark S&P 500 and the Nasdaq were losing ground, dragged down by technology, utilities and financials stocks. The Dow Jones Industrial Average rose 0.09 per cent, the S&P 500 fell 0.25 per cent and the Nasdaq Composite fell 0.36 per cent. Shares in Intel jumped more than 2 per cent by lunchtime on Friday, following a 7 per cent bounce the previous day, after reports that the Trump administration had discussed an unusual move to acquire an ownership stake as part of a plan to revive the troubled US chipmaker. Shares of UnitedHealth Group surged more than 13 per cent on Friday after billionaire Warren Buffett's Berkshire Hathaway bought five-million shares of the company, providing a shot in the arm for investors who think the health conglomerate will turn around under its new CEO. - Additional reporting: Reuters, PA
Irish Examiner
11 hours ago
- Irish Examiner
'Preferred bidder' found for MV Matthew berthed in Cork Harbour
Drug trafficking cargo ship the MV Matthew has cost the State almost €10m in maintenance, crewing, and berthing fees since it was intercepted in 2023. A buyer has been found for the drug trafficking ship, and the Revenue Commissioners are engaging with Panamanian authorities to ensure legal and regulatory compliance. The MV Matthew, a Panamanian-registered ship, was at the centre of the largest cocaine seizure in the history of the State. Eight men were sentenced to a combined 129 years in prison in July for their role in the drug trafficking operation in which some €157m worth of cocaine was seized. The MV Matthew, owned by a Dubai-based company, was boarded at gunpoint by Ireland's elite army ranger wing in rough seas off the Cork coast in September 2023. Eight men from the 21-person crew were ultimately charged with drug trafficking offences. The ship, which has since been berthed in Cork Harbour, has been costing an average of €120,000 each week to maintain. However, Revenue has confirmed that 'a preferred bidder has been identified' for the MV Matthew. 'Revenue is engaging with the Panamanian authorities to ensure compliance with maritime legislation and regulations that govern the disposal of the MV Matthew, and has received confirmation from them that it is receiving attention,' a statement said. 'Revenue hopes to have these matters finalised shortly. Revenue is required to ensure that all regulations and legal obligations are fully complied with throughout the disposal and removal process.' 'Far too long' Berthing the ship, which includes costs for unberthing and moving the vessel when necessary, has cost €2,187,950. Maintenance of the ship — including fuel costs, waste removal, and repairs — has cost €3,784,050. Crewing has cost 3,762,054. More than €9,734,054 has been spent on the ship in total. These costs were paid by the Revenue Commissioners to maintain and manage the MV Matthew from September 2023 to the end of July 2025. Fianna Fáil TD for Cork South Central Séamus McGrath said that the disposal of the MV Matthew is taking 'far too long'. 'The cost of keeping it on a weekly basis is extremely high,' he said. 'I doubt very much at this stage if the State will actually be any net better off as a result of the sale, given the amount of cost that was incurred in terms of the storage and maintenance of the ship.' The ship had been maintained to allow access for defence legal teams as it was at the centre of a major criminal trial. The Special Criminal Court authorised its release on December 2. It was only possible to dispose of the ship from that date. Mr McGrath said that it should have been ready for sale as soon as it was released by the courts. He said he has raised his concerns both with Revenue and with the Public Accounts Committee, and has requested further information on the sales process.
