Adrian Weckler: 71pc of VC cash this year has gone into AI – so does Ireland Inc really intend sitting this one out?
US Big Tech are the only ones allowed create AI services – which the EU then ends up using anyway
Today at 00:30
The economics of AI are like nothing the world has ever seen before.
Forget tulip mania, the South Sea bubble, Icelandic banks, the Celtic Tiger – even the dot.com bubble. This supersedes them all.
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The Journal
an hour ago
- The Journal
Flogging beef tongue and Irish whiskey: Taoiseach and ministers travel to Japan in major trade push
Christina Finn TAOISEACH MICHEÁL MARTIN is due to travel to Japan tomorrow, where he will visit Tokyo, Osaka, and Hiroshima. A total of six ministers, not including the Taoiseach, have travelled or are due to travel to Japan this year for a major charm offensive trade push amidst the threat of US tariffs. Enterprise Minister Peter Burke and Agriculture Minister Martin Heydon, Minister of State Hildegarde Naughton, Media Minister Patrick O'Donovan have already made the trip this year, with Higher Education Minister James Lawless heading there during the summer and Transport Minister Darragh O'Brien due to travel in the autumn. Japan is Ireland's second-largest trading partner in the Asia-Pacific region, with annual two-way trade totalling €21.5 billion. There is a big demand for some Irish produce, such as beef, Irish whiskey, seafood and grain products. Irish beef tongue 'very big' in Japan Irish beef tongue is 'very big' in Japan, said one official, who added that Donegal oysters and Flavins oatmeal are among highly-sought after commodities in Japan. Japan is the third biggest market for Irish whiskey and the market is growing. In 2020, 55,000 cases of Irish whiskey were sold to Japan, with 206,000 cases sold last year. Advertisement With the deadline for Europe to strike a trade deal with the US approaching, Ireland has been on the charm offensive with other nations in a bid to attempt to fill the gap of any trading holes that might emerge. Market diversification is the main show in town right now, said one official. Japan is a growing export market with over 300 Enterprise Ireland clients doing business in Japan and over 50 Irish companies having representations or presence in the country. The aim of the Ireland Japan 2025 programme is part of the government's high-level trade mission programme whereby ministers are tasked with showcasing Ireland's world-class agri-food sector. Food market, Osaka Alamy Stock Photo Alamy Stock Photo Japan, which has a population of 123 million people, holds lots of opportunities for Ireland, particularly when a cloud of uncertainty is on the horizon. The country gained access to Irish beef in 2013 and sheep-meat access in 2019. The Irish agri-food sector exported 34% dairy to Japan, along with 28% pig meat, 10% fish, 12% beverages and 6% animal feed. There is a big push in particular to sell Irish whiskey and gin to Japan. Expo 2025 Osaka As part of the Taoiseach's visit, Martin will attend the Ireland Pavilion at Expo 2025, which is a key part of the Ireland Japan 2025 programme. A year long series of activities at the Expo have been designed to increase Ireland's presence and visibility in Japan and this includes the opening of the new Ireland House. Related Reads 'Wait and see': Taoiseach says Trump's extension on tariff threat could stifle economic growth Trump says 50% tariffs on EU delayed until 9 July after 'very nice call' with von der Leyen Potential risk of differential tariff rates to all-island economy averted for now, Cabinet to hear Irish Pavilion at Osaka Expo 2025 Alamy Stock Photo Alamy Stock Photo The overall approved budget for the programme is €16.8 million over the three years from 2023 to 2026. Tánaiste Simon Harris has said Ireland completed its pavilion on time and within budget. Designed by Office of Public Works architects, the Ireland Pavilion is inspired by the ancient Celtic motif of the triskele. The Ireland Pavilion serves as a hub for Irish organisations, Team Ireland and the diaspora, and involves an immersive visitor experience. It is expected that Expo will attract approximately 28 million visitors, with the government hoping its participation in the Expo will provide a platform for public diplomacy for Ireland. 'Ireland can still remain relatively unknown among the wider Japanese public. The Ireland pavilion has been operating at maximum capacity on a daily basis. We reckon that in excess of six million visitors have attended Expo already,' Tánaiste Simon Harris has said. As part of the Taoiseach's trip next week, he will also visit the Peace Memorial Park and Museum at Hiroshima to mark the 80th anniversary of the atomic bombing of Hiroshima City and Nagasaki City by the United States in 1945. Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal
The Irish Sun
3 hours ago
- The Irish Sun
Putin is the number one threat to UK – we must apply pressure or he'll come marching into Europe, ex-defence chief warns
RUSSIA'S economy must be drained to stop bloodthirsty Vladimir Putin invading other countries, an ex-defence minister has warned. Sir Liam Fox argued seizing Moscow's assets in Europe and allowing oligarchs to invest in the continent would help Advertisement 6 Smoke and fire rise during a Russian strike on Kyiv Credit: Reuters 6 A rescue worker looks for survivors in the rubble of a multi-storey residential house destroyed by a Russian strike Credit: AP 6 Vladimir Putin in St. Petersburg, Russia on June 20 Credit: Getty 6 The former trade secretary insisted there is no other way to deal with "FSB thug" Putin - who is hellbent on recreating the Soviet Union "by all means". He told The Sun: "I don't think there is a military solution to what's happening in Ukraine. But I think there is a solution in the longer term." Sir Fox, who served as the UK's defence minister under ex-PM David Cameron, said Putin has "absolutely crippled" his nation's economy - which could present an ideal opportunity. The Kremlin's bloated military spending after more than three years of bloodshed in Ukraine has left Advertisement More world news EU foreign policy chief Kaja Kallas revealed this month how Russia is spending more on defence than the EU's 27 nations combined. "That comes, however, at a cost in the medium to long term," Sir Fox said. "First of all, it's much easier to transform an economy from a peace economy into a war economy than vice versa. It requires a great deal of money." It comes as a Ukrainian government source this week warned The Sun that Advertisement Most read in The Sun Sir Fox and fellow ex-defence chief Penny Mordant both called for They warned Putin is the "number one threat" to Britain - and could jeopardise the UK's security with sabotage attacks. Putin has lost a MILLION men - Ukraine has killed so many it is running out of ammo Ms Mordaunt, who was defence secretary during Theresa May's premiership, urged the UK to turn up the heat on the tyrant. She told The Sun: "You need to be wide-eyed about what Putin is trying to achieve. Advertisement "But you also need to put pressure on him. It's his war. It's always been his war to end. "I applaud what the president [Trump] has been doing to try and bring the conditions for it to come to an end about. "But we need to apply that pressure." Former treasury commissioner Sir Fox said the only way to stop the warmongering dictator from unleashing his forces on other nations is to let Russia's economy bleed. Advertisement Putin's invasion of Ukraine more than three years ago triggered a slew of sanctions from the West - and near-total departure of Western companies from the sprawling nation. 'UK must bolster defence or pay will blood of its people', Penny Mordaunt warns by Katie Davis, Chief Foreign Reporter (Digital) BRITAIN will pay with the blood of its people if more money isn't spent to bolster the UK's defence, Penny Mordaunt has warned. The ex-defence secretary has urged the government to "wake up" and fund the UK's security properly before it's too late. Former Navy reservist She warned the consequences with be "incalculably grave" if the government does not open up the treasury purse. Ms Mordaunt told The Sun: "I'm confident that if you prepare for war, you invest in it, you train for it, then conflicts don't start. "Because your foes know it is not worth them doing that. They're going to lose. "The consequences of retaliation against them are too great." Sir Fox said: "We didn't win the Cold War because we had more or better weapons than the Russians. "It's because we had bigger and stronger economies and could outspend them. And this is what we need to do now. "We need to ensure that the Russian economy pays the price for Putin's policies. Sadly, that means the Russian people, ultimately. Advertisement "But our job is to make sure that that war economy is weakened and that we diminish his ability to wage war elsewhere. So we need to ensure that Russia doesn't have the money." Sir Fox believes this would be best achieved by reversing the policy stopping Russian oligarchs from investing in Europe. This, he said, will draw more money out of Russia. "I think we should also seize Russian assets in Europe," the former doctor added. Advertisement "The Russian assets sitting in Europe are more than the combined money that Europe and America have given to Ukraine so far. "And I think that it's perfectly reasonable that Russia pays the price for its war making. And you can view it as reparations for Ukraine. 6 "So the principle is there. And I think in the long term we need to try to make sure that Russia is not able to afford to be able to wage war. Advertisement "It's quite clear that Putin can't be accommodated. "There is no way to deal with an FSB thug who is a hardline ideologue who hates the West and wants to recreate the Soviet Union by all means including violence." It comes after a top Ukrainian government source warned Putin could hit Europe with a never-seen-before-attack. The insider said the tyrant could exploit the crisis in the Middle East while the West's eyes are turned to the embattled region. Advertisement Cunning Vlad may even attempt to mimic Ukraine's elaborate Spiderweb operation that blitzed strategic targets inside Russia. The source told The Sun: "The West should be prepared that the Spiderweb operation may be reconfigured and deployed by Russia as a hybrid attack on any Nato Eastern flank nation. "That would be the major Article 5 test that the Alliance has not experienced yet." 6 Advertisement
Irish Independent
6 hours ago
- Irish Independent
Adrian Weckler: 71pc of VC cash this year has gone into AI – so does Ireland Inc really intend sitting this one out?
US Big Tech are the only ones allowed create AI services – which the EU then ends up using anyway Today at 00:30 The economics of AI are like nothing the world has ever seen before. Forget tulip mania, the South Sea bubble, Icelandic banks, the Celtic Tiger – even the bubble. This supersedes them all.
