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Irish Independent
6 days ago
- Business
- Irish Independent
€50 million plan to create 5,000 jobs in Ireland's West and North West unveiled
Minister for Rural and Community Development and the Gaeltacht, Dara Calleary officially launched the Western Development Commission's new five-year strategy 'Unlocking Potential, Driving Change: A Strategy for Regional Growth and Collaboration 2025–2029' in Ballina, Co. Mayo. The strategy outlines a roadmap to position Ireland's West and North West as national leaders in innovation, digital transformation, and inclusive growth, with collaboration at its core. The strategy marks the next phase in the WDC's evolution, building on over 25 years of impact across enterprise, investment, and community development. It reflects a confident, tested regional model, now entering its most ambitious chapter. Minister Dara Calleary said: 'This is a roadmap for real impact. It shows how strategic collaboration and local leadership can turn national ambition into local opportunity. The Western Region is not waiting for change - it plans to shape it. The strategy aligns with Our Rural Future, the Governments rural development policy, and reinforces this Government's commitment to balanced regional growth, innovation, and inclusive economic opportunity across Ireland.' 'This is not a new beginning, it's the next step,' said Allan Mulrooney, CEO of the WDC. 'We've co-created a strategy that is both ambitious and grounded in what already works. In the years ahead, talent, not geography will shape the West's future. But talent needs the right conditions to thrive. That's why this strategy focuses on investing in high-potential companies, supporting resilient communities, and testing scalable solutions for rural Ireland. From AI to climate action, social enterprise to creative industries—we're building the platforms to turn regional potential into long-term impact.' The strategy is structured around four interconnected growth drivers—each designed to deliver outcomes: Heritage – safeguarding cultural and natural assets while fostering innovation rooted in place. Horizons – embracing global opportunities and scaling sectors like MedTech, renewable energy, AgriTech, and the creative economy. Harnessing Talent – supporting flexible work, digital skills, AI readiness, and inclusive careers across all life stages. Hubs – enabling collaboration and connectivity through a dynamic network of physical and digital infrastructure. To translate ambition into measurable impact, the strategy sets out a suite of key targets for 2025–2029, including: Investing €50 million in the region—€35 million through the WDC's evergreen Investment Fund and €15 million from EU funding sources. Supporting the creation of 5,000 jobs through enterprise and regional development projects. Reaching 400 Connected Hubs and evolving the network as a platform to deliver AI upskilling, digital transformation, and climate action directly into communities. Delivering over 100 high-impact projects across SMEs, social enterprises, and the creative sector through the Investment Fund and supporting a further 1,000 SMEs through EU-funded programmes. Reaching an annual audience of 1 million through initiatives that globally promote the Western Region. Eugene Cummins, Chairperson of the WDC, said: 'Unlocking regional potential takes more than investment, it takes cohesion. This strategy is a product of deep collaboration across sectors and communities. It reframes rural Ireland not as the periphery, but as a place of real and rising potential.' Over the next five years, the WDC will work closely with government departments, local authorities, enterprise agencies, communities, and academic institutions to ensure the region progresses as a unified whole, while recognising that different areas, particularly the Northwest, require tailored approaches. In a time of rapid change, where the way we work, climate resilience, and evolving technologies are reshaping every region, Unlocking Potential, Driving Change lays the foundation for inclusive, resilient, and future-focused growth. It is a strategy that brings policy, people, and possibility into alignment for the West, and for the country. The Western Development Commission operates under the auspices of the Department of Rural and Community Development and the Gaeltacht.
Business News Wales
13-05-2025
- Business
- Business News Wales
Development Bank Supports Buyout at Financial Services Business
An independent advisory business looking to buy out a retiring director has been supported with a £325,000 loan from the Development Bank of Wales, via the Wales Flexible Investment Fund. Premier Commercial Wealth Management is an FCA-authorised business providing financial advice and services to businesses across South Wales on pensions, investments and tax planning. It was set up by former HSBC colleagues Jonathan Williams, Paul Tracey and Jeremy Reed in 2012, and has since gone on to advise businesses and manage funds for a number of providers. With the upcoming retirement of outgoing director Jeremy, fellow directors were keen to find a way of continuing the business while allowing him to step back. Jonathan Williams at Premier said: 'We were keen to look at routes to buy out our fellow director – Jeremy wanted to plan for retirement, while Paul and I wanted to carry the business on. The loan from the Development Bank has meant we've been able to follow the option of a buyout within the business, while doing so in a way which is aligned with our longer-term planning. 'We're a fiercely independent business, and each of us directors have had long careers in banking and finance. We know how difficult it can be to get a loan which suits what you need, without also possibly compromising your own plans. 'But the support we had from Sally at the Development Bank was brilliant – she was first class, from start to finish, and supported us through everything we needed to do.' Sally Phillips, Investment Executive at the Development Bank of Wales, said: 'It was a pleasure to work with Jonathan and the team at Premier Commercial Wealth Management in realising their plans as Jeremy looks ahead at retirement. We're glad to have provided them with flexible and targeted support, and wish them the best with their continued growth.' Financed by Welsh Government, the Wales Flexible Investment Fund is for deals between £25,000 and £10 million. Loans, mezzanine finance, and equity investments are available for Welsh businesses with terms of up to 15 years.
Observer
05-05-2025
- Business
- Observer
Oman, Algeria to enhance cooperation
His Majesty Sultan Haitham bin Tarik and President Abdelmadjid Tebboune of the People's Democratic Republic of Algeria commended the establishment of the 'Algerian-Omani Investment Fund' as a mechanism to finance joint investments between the two nations, enhance their volume, and ensure diversification and expansion across all sectors. This was stated in the joint communiqué issued on Monday on the occasion of the state visit of His Majesty Sultan Haitham bin Tarik to the People's Democratic Republic of Algeria on May 4-5. It reads as follows: 'At the invitation of President Abdelmadjid Tebboune of the People's Democratic Republic of Algeria, His Majesty Sultan Haitham bin Tarik, Sultan of Oman, paid a state visit to Algeria on May 4-5, accompanied by a high-ranking delegation. At the outset of the visit, President Tebboune welcomed His Majesty Sultan Haitham bin Tarik, praising this renewed meeting that reflects the fraternal relations, cooperation and solidarity binding the Algerian and Omani peoples. On his turn, His Majesty expressed his pleasure at visiting Algeria and extended his gratitude for the warm reception accorded to him and his accompanying delegation. He highlighted the distinguished ties between the two nations, rooted in historical, cultural and solidarity-based bonds, as well as a shared destiny. In an atmosphere of mutual understanding, the two leaders held in-depth and constructive discussions on bilateral relations and ways to strengthen them across various fields. They also exchanged views on regional and international issues of common interest and chaired an expanded meeting between the two delegations. Both sides praised the progress in bilateral relations in recent years, particularly following President Tebboune's state visit to Muscat during October 28-30, 2024, and the eighth session of the Joint Committee held in Algeria on June 11-12, 2024. They also commended the steps taken to implement the outcomes of these meetings. The two leaders affirmed their commitment to further enhancing cooperation and partnership, leveraging the vast potential of both countries. The two sides encouraged joint public and private sector investment projects, building on the successful partnership in fertiliser, ammonia and urea production in the Arzew industrial zone - a $2.4-billion project. They also welcomed ongoing discussions for projects in automotive manufacturing, energy, pharmaceuticals, and other sectors, urging their swift implementation and the exploration of new areas for mutual benefit. They lauded the establishment of the Algerian-Omani Investment Fund as a tool to finance joint ventures, increase their scope and ensure diversification across all fields. Regarding trade, the two leaders directed intensified efforts to boost trade volume, develop economic exchanges and utilise the commercial and economic capacities of both nations. They also highlighted the outcomes of the business forum held in Algeria on June 11, 2024, attended by entrepreneurs and companies from both countries. Additionally, they noted Oman's selection as the guest of honour at the 56th Algiers International Fair (June 23-28, 2025) and Algeria's participation as the guest of honour at the seventh Oman Agro Food Exhibition (December 1-3, 2025). MoUs SIGNED The two sides welcomed the signing of memoranda of understanding and executive programmes in justice, legal affairs, investment, agriculture, fisheries, pharmaceuticals, energy, mining, labour and employment. The leaders praised the deep historical and cultural ties between the two peoples, as well as the significant role played by the Algerian community in Oman in strengthening bilateral relations. On regional and international matters, the two leaders exchanged views on current developments, emphasising their commitment to coordinating their positions in line with their foreign policy principles and the interests of the Arab and Islamic nations. They stressed the importance of enhancing regional and global security and stability. Regarding the Arab world, they underscored the need for continued coordination with Arab brothers - bilaterally and within the Arab League - to strengthen joint Arab action and address multifaceted threats and challenges. SITUATION IN GAZA The two leaders addressed the tragic situation in Palestine, strongly condemning Israel's genocidal war and scorched-earth policy in Gaza, which has caused unprecedented humanitarian disasters and the destruction of vital infrastructure, including hospitals, schools and places of worship. They called on the international community, particularly the UN Security Council, to fulfil its responsibilities by demanding an immediate ceasefire in Gaza and working towards a comprehensive and just resolution to the Palestinian issue based on relevant international resolutions and the two-state solution - ensuring the Palestinian people's right to an independent state along the 1967 borders with Jerusalem as its capital. The Omani side commended Algeria's relentless efforts in defending the Palestinian cause at the UN Security Council as the Arab representative. The Algerian side praised Oman's constructive role in mediating between the US and Iran, applauding Omani diplomacy's approach to resolving disputes through peaceful dialogue and wisdom. At the end of the visit, His Majesty Sultan Haitham bin Tarik expressed his gratitude for the warm hospitality extended to him and his delegation. He wished President Tebboune good health and well-being, and Algeria further progress and prosperity.' - ONA
Observer
05-05-2025
- Business
- Observer
One hundred days that shook US foreign policy
We are barely 100 days into US President Donald Trump's second term, but much is already clear. Trump 2.0 is starkly different: more confident and surrounded by a team determined to implement a far more sweeping agenda. Those staffing the administration – amplifiers more than restrainers, enablers more than guardrails – spent the past four years preparing for this moment. Trump 2.0 is an activist, imperial presidency, at home and abroad. He seems to be everywhere, dominating public space and private conversations alike in much of the world. The contrast with his predecessor President Joe Biden could not be starker. The administration's principal policy goal thus far has been to make good on Trump's campaign pledge to secure the United States' southern border. But import tariffs – an across-the-board 10 per cent baseline levy, plus additional country-specific tariffs, reaching 145 per cent in China's case – have become the defining initiative of his presidency. Foreign policy is also substantially changed. The US has shifted from being a steadfast supporter of Ukraine to tilting decidedly in Russia's favour. The shift appears to be motivated by a clear dislike for Ukrainian President Volodymyr Zelensky and an embrace of Russian President Vladimir Putin for reasons unknown. Trump, who boasted during his campaign that all he needed was a day to end the war, which he regularly blames on Biden and Zelensky, is now talking about walking away from diplomacy to end the war entirely. He is finding it difficult to make good on his campaign promise, in no small part because his pro-Russia policy fails to give Putin any incentive to compromise or Zelensky the confidence to do so. The agreement to establish a US-Ukraine Reconstruction Investment Fund should help, but, to achieve a cessation of hostilities, much more will need to be done to assist Ukraine. Europe and America's other traditional allies receive no special treatment, either. Vice President J D Vance travelled to Munich in February to ignite a cultural clash with Europeans, while Defence Secretary Pete Hegseth openly raised doubts about the US commitment to Europe at Nato headquarters. This has spurred European preparations to support Ukraine if American assistance wanes and to achieve strategic self-sufficiency more broadly. US President Donald Trump disembarks from Air Force One upon arrival at Joint Base Andrews in Maryland. - AFP In the Middle East, the administration launched what could well prove to be a promising negotiation with Iran. If the Trump administration is willing to allow Iran limited uranium enrichment – a concession that may be required to secure a deal – it can expect criticism from some in the US and Israel. But Trump is strong enough to weather the pushback if it comes. Otherwise, the Trump administration has essentially given Israel's government a free hand to do what it wants in both Gaza and the West Bank. It seems to have lost interest in extending the Hamas-Israel ceasefire, as this would put it at odds with Israeli Prime Minister Binyamin Netanyahu, who appears to prioritise his coalition's survival. Gone is pressure on Israel to rein in its military operations or to even allow humanitarian aid into Gaza, which is almost two months into a full blockade. Trump's own proposal for Gaza, to empty it of its two million Palestinian inhabitants and to rebuild a new Riviera, went nowhere, but seems to have emboldened the Israeli government to depopulate, occupy, and potentially settle large swaths of the enclave. The most unexpected dimension of US foreign policy, one neither previewed in Trump's first term nor during the campaign, has been the focus on the Western Hemisphere. Canada and Mexico were singled out for early tariffs over alleged failures to control their borders. There were also heavy-handed calls to assert US sovereignty over the Panama Canal, Greenland, and Canada. More than anything else, these goals have triggered an anti-American backlash – even flipping the outcome of Canada's recent federal election. There is also what might be described as an amoral slant to US foreign policy. The biggest foreign-policy uncertainty remains in China. On one hand, Trump granted TikTok waivers that allowed it to remain on Americans' phones, despite uncertainty about whether he has the authority to do so. He continues to speak highly of Chinese President Xi Jinping and expresses confidence that the US and China will reach a deal. But the massive tariffs he has levied on China mean that the US and Chinese economies will increasingly separate, if not actually decouple. Whether the tariffs are an attempt to gain bargaining leverage or are ends in themselves remains perhaps the biggest question in Sino-US relations. Overall, Trump 2.0's foreign policy is more unilateralist than isolationist. This will remain the case. Less clear is the extent to which Trump will move to reduce tariffs, rethink his pro-Russian stance on Ukraine, and press Israel to modify its approach to Gaza and the West Bank – policies that could revive US and global economic growth and bring peace to two regions that have known little of it. Much will depend on the choices of a man who, for better or worse, is already among the most consequential of US presidents. @Project Syndicate, 2025 Copyright Project Syndicate
Jordan Times
04-05-2025
- Business
- Jordan Times
One Hundred Days that Shook US Foreign Policy
NEW YORK – We are barely 100 days into US President Donald Trump's second term, but much is already clear. Trump 2.0 is starkly different: more confident and surrounded by a team determined to implement a far more sweeping agenda. Those staffing the administration, amplifiers more than restrainers, enablers more than guardrails, spent the past four years preparing for this moment. Trump 2.0 is an activist, imperial presidency, at home and abroad. He seems to be everywhere, dominating public space and private conversations alike in much of the world. The contrast with his predecessor President Joe Biden could not be starker. The administration's principal policy goal thus far has been to make good on Trump's campaign pledge to secure the United States' southern border. But import tariffs, an across-the-board 10 per cent baseline levy, plus additional country-specific tariffs, reaching 145 per cent in China's case, have become the defining initiative of his presidency. Foreign policy is also substantially changed. The US has shifted from being a steadfast supporter of Ukraine to tilting decidedly in Russia's favor. The shift appears to be motivated by a clear dislike for Ukrainian President Volodymyr Zelensky and an embrace of Russian President Vladimir Putin for reasons unknown. Trump, who boasted during his campaign that all he needed was a day to end the war, which he regularly blames on Biden and Zelensky, is now talking about walking away from diplomacy to end the war entirely. He is finding it difficult to make good on his campaign promise, in no small part because his pro-Russia policy fails to give Putin any incentive to compromise or Zelensky the confidence to do so. The agreement to establish a US-Ukraine Reconstruction Investment Fund should help, but, to achieve a cessation of hostilities, much more will need to be done to assist Ukraine. Europe and America's other traditional allies receive no special treatment, either. This is certainly the case with tariffs, which tellingly spared Russia but severely hit Japan, South Korea, and Taiwan. Vice President J.D. Vance traveled to Munich in February to ignite a cultural clash with Europeans, while Defense Secretary Pete Hegseth openly raised doubts about the US commitment to Europe at NATO headquarters. This has spurred European preparations to support Ukraine if American assistance wanes and to achieve strategic self-sufficiency more broadly. In the Middle East, the administration launched what could well prove to be a promising negotiation with Iran. The stage was set by Israeli military action against Iran and its proxies, the fall of the Assad regime in Syria, and Iran's worsening economy, all of which makes backing away from its nuclear program to avoid military attack and secure sanctions relief particularly attractive. If the Trump administration is willing to allow Iran limited uranium enrichment, a concession that may be required to secure a deal – it can expect criticism from some in the US and Israel. But Trump is strong enough to weather the pushback if it comes. Otherwise, the Trump administration has essentially given Israel's government a free hand to do what it wants in both Gaza and the West Bank. It seems to have lost interest in extending the Hamas-Israel ceasefire, as this would put it at odds with Israeli Prime Minister Binyamin Netanyahu, who appears to prioritise his coalition's survival, through continuing military operations in Gaza, over freeing the remaining hostages. Gone is pressure on Israel to rein in its military operations or to even allow humanitarian aid into Gaza, which is almost two months into a full blockade. Trump's own proposal for Gaza, to empty it of its two million Palestinian inhabitants and to rebuild a new Riviera, went nowhere, but seems to have emboldened the Israeli government to depopulate, occupy, and potentially settle large swaths of the enclave. In the West Bank, the Trump administration rescinded Biden's sanctions on settlers who commit acts of violence against Palestinians and/or their property. There is no call on Israel to refrain from settlement activity or any penalty for not doing so. Indeed, this is the first US administration in modern memory not to push Israelis and Palestinians to narrow their differences. What interest there is in reconciliation is focused almost exclusively on facilitating diplomatic normalisation between Israel and Saudi Arabia, a prospect set back by Israel's continued use of armed force in Gaza and rejection of any political agenda to address Palestinian aspirations. The most unexpected dimension of US foreign policy, one neither previewed in Trump's first term nor during the campaign, has been the focus on the Western Hemisphere. Canada and Mexico were singled out for early tariffs over alleged failures to control their borders. There were also heavy-handed calls to assert US sovereignty over the Panama Canal, Greenland, and Canada. More than anything else, these goals have triggered an anti-American backlash, even flipping the outcome of Canada's recent federal election. There is also what might be described as an amoral slant to US foreign policy. The Trump administration has all but ignored the weakening of democracy in countries such as Turkey and Israel, and has slashed support for democracy promotion efforts around the world. The biggest foreign-policy uncertainty remains China. On one hand, Trump granted TikTok waivers that allowed it to remain on Americans' phones, despite uncertainty about whether he has the authority to do so. He continues to speak highly of Chinese President Xi Jinping and expresses confidence that the US and China will reach a deal. But the massive tariffs he has levied on China mean that the US and Chinese economies will increasingly separate, if not actually decouple. Whether the tariffs are an attempt to gain bargaining leverage or are ends in themselves remain perhaps the biggest question in Sino-US relations. Overall, Trump 2.0's foreign policy is more unilateralist than isolationist. This will remain the case. Less clear is the extent to which Trump will move to reduce tariffs, rethink his pro-Russian stance on Ukraine, and press Israel to modify its approach to Gaza and the West Bank, policies that could revive US and global economic growth and bring peace to two regions that have known little of it. Much will depend on the choices of a man who, for better or worse, is already among the most consequential of US presidents. Richard Haass, President Emeritus of the Council on Foreign Relations, senior counselor at Centerview Partners, and Distinguished University Scholar at New York University, previously served as Director of Policy Planning for the US State Department (2001-03), and was President George W. Bush's special envoy to Northern Ireland and Coordinator for the Future of Afghanistan. He is the author of The Bill of Obligations: The Ten Habits of Good Citizens (Penguin Press, 2023) and the weekly Substack newsletter Home & Away.
