Latest news with #RepublicofIreland
Irish Times
21 minutes ago
- Business
- Irish Times
National Development Plan to help Ireland meet climate goals, says Taoiseach
While many countries are pushing in the opposite direction, the State sees the climate crisis as a 'priority', said Taoiseach Micheál Martin at the launch of the revised National Development Plan (NDP) on Tuesday. The NDP is designed to safeguard the State's future and 'meet our climate goals', he said, as he defended spending on new roads. While much of the €275 billion in capital investment up to 2035 addresses infrastructure deficits and housing shortfalls, including capacity to deliver water and electricity connections, much spending is geared towards the scale-up of renewable energy, ensuring more robust grids and resilience from the effects of the climate crisis. The Government has identified the need to provide support for development of 'low-carbon transport projects', such as MetroLink , before 2030. READ MORE The NDP says the Government has decided, given its 'unique scale', to fund the Metrolink out of the Infrastructure, Climate and Nature Fund (ICNF), whose purpose is to finance investment associated with delivering on the Republic's climate and nature goals. This funding approach will 'allow the ambitious pipeline of other public transport projects', it adds. This will allow for scale-up of low-carbon transport, but also key road developments separately under the Department of Transport. The NDP, in effect, confirms the previous government's commitment to 2:1 funding in favour of public transport and active travel over roads no longer applies. The ICNF will allocate €2 billion to MetroLink. The fund is projected to grow to €14 billion overall up to 2030. Mr Martin defended spending on new roads and suggested they could be climate-friendly, as evidenced by improvements in air quality in Macroom, Co Cork, after the town was bypassed. A total of €3.5 billion is earmarked for spending by ESB Networks and EirGrid over the 2026-2030 period. 'This equity will enable both companies to increase capital investment to expand electricity transmission and distribution network infrastructure,' says the NDP. Minister for Energy Darragh O'Brien said this 'transformative investment will strengthen Ireland's energy security, support economic growth and accelerate our transition to renewable energy'. The Taoiseach said funding for MetroLink, the Greater Dublin Drainage Project (a new regional wastewater treatment facility at Clonshaugh), and a project supplying water to Dublin and parts of the east coast from the river Shannon are 'baked in', though not costed in the document. The Shannon project is to address shortages and supply vulnerabilities in the Greater Dublin Area, which are likely to become more acute with climate change and population growth. Separate to €2 billion for Uisce Éireann to provide water infrastructure for 300,000 new homes, €2.5 billion is allocated for 'key large-scale water infrastructure projects to build essential capacity for growth and increase the resilience and sustainability of water supply'. Coinciding with a new infrastructure division in the Department of Public Expenditure and Reform, the NDP confirms projects proposed for funding, on top of economic appraisal, will have to assess impact on greenhouse gas emissions and evaluate likely 'climate-related outcomes'.
Yahoo
a day ago
- Sport
- Yahoo
Ferguson to undergo medical at Roma
Brighton forward is set to undergo a medical with ahead of a temporary switch to the Serie A club. The Republic of Ireland international is hoping to reignite his career after a combination of injuries and poor form saw him slip down the hierarchy at Brighton. He spent the second half of last season at West Ham on loan, but featured just eight times, with only one start under Graham Potter. Roma identified Ferguson as a replacement for Tammy Abraham, who is currently on loan at Turkish outfit Besiktas, working under Ole Gunnar Solskjaer. Talks between the Italian side and Brighton have been ongoing in recent weeks. Fresh start for former teen sensation Ferguson was seen in photos circulating online as he met Roma supporters and signed autographs ahead of the proposed deal. Now 20, Ferguson was shortlisted for the PFA Young Player of the Year award following a standout 2022-23 season, in which he netted nine goals and earned his first senior cap for Ireland. Since November 2023, however, he has found the net only once in club competition and was not expected to be a key figure under Brighton boss Fabien Hurzeler at the start of the new campaign.
Irish Times
2 days ago
- Business
- Irish Times
Irish deal-making up 4%, bucking European trend
Irish merger and acquisition (M&A) activity continued to buck European and global trends in the first half of the year, with the volume of deals involving companies in the Republic rising modestly compared to last year. Yet, the total value of transactions fell by more than half over the period, according to a new report from William Fry , as the value of large-cap deals plummeted. As is typical, the majority of M&As in the six months to the end of June involved mid-market companies, the law firm said, but there were some larger transactions of note over the period. The biggest deal in the first half of 2025 was the €1.9 billion acquisition of Limerick-based Nordic Aviation Capital by a subsidiary of the sovereign wealth fund of the United Arab Emirates in May. READ MORE The transaction was one of five with a price tag of more than €500 million in the first half of the year, matching the volume of larger deals over the same period in 2024, William Fry said. Other transactions of note this year include conglomerate DCC 's sale of its healthcare division for €1.2 billion to London-based private equity firm Investindustrial Advisors, and the Government's €1 billion disposal of its remaining 8.23 per cent stake in AIB . Overall, 236 deals were announced in the first six months of the year, the law firm said, up 4 per cent from 227 in the first half of 2024. Over the same period, deal volumes fell by 19 per cent across Europe, according to the report. David McWilliams on how 'big incentives' to build could save Dublin city Listen | 36:51 However, the total value of transactions announced in the Republic this year was €8.8 billion, down 51 per cent from the first half of 2024. This was largely due to a 'slowdown in large-cap' and 'transformational' deals worth more than €500 million, according to the report. Specifically, the first half of last year saw several larger-scale deals, including Apollo Global's €10.1 billion buyout of its stake in Inte l's Leixlip plant, which pushed up the total. Andrew McIntyre, head of corporate and M&A at William Fry, said the modest increase in deal volume suggests the market here remains resilient despite global headwinds. 'While deal values moderated due to fewer large transactions, the data highlights the strength of Irish assets,' he said. 'International interest is strong, and private equity is showing renewed momentum in the mid-market.' According to the report, inbound M&A continues to dominate the Irish market, accounting for 63 per cent of all deals here, up from 57 per cent last year. Some 148 inward investment transactions were announced over the period, 81 of which were in the first three months of the year alone, William Fry said. Global deal-making has been hampered in the first half of 2025 by heightened geopolitical tensions and uncertainty around tariffs and other trade-related issues. At the macroeconomic level, the slower pace of global economic growth now forecast this year by the likes of the International Monetary Fund should be considered headwinds for Irish M&A activity, Mr McIntyre said. However, he said there are 'reasons for cautious optimism' with several high-profile deals announced early in the second half of 2025, like Dalata's €1.4 billion sale to Swedish property group Pandox.
Yahoo
2 days ago
- Climate
- Yahoo
Weather warnings upgraded ahead of intense rain for island of Ireland
Forecasters in Northern Ireland and the Republic of Ireland have upgraded their warnings ahead of heavy rainfall on Sunday night into Monday. Northern Ireland is expected to experience some of the worst of a heavy spell of rainfall on Sunday evening into Monday. Forecasters predict the region could see half a month's worth of rain in less than a day. It comes as yellow-level rain warnings were put in place for the eastern counties of Northern Ireland, as well as several counties south of the border. ⚠️⚠️ Amber weather warning issued ⚠️⚠️ Rain across south eastern Northern Ireland Sunday 2300 – Monday 0800 Latest info 👉 Stay #WeatherAware ⚠️ — Met Office (@metoffice) July 20, 2025 The Northern Ireland warning applies for Antrim, Armagh and Down between 6pm on Sunday until 6pm on Monday. A more intense amber-level warning was also put in place between 11pm on Sunday and 8pm on Monday. The Met Office warned that homes and businesses are likely to be flooded. The expected rainfall carries a risk of flooding, power cuts and dangerous driving conditions. Forecasters also warn there is a small chance that some communities could be cut off by flooded roads while fast-flowing or deep floodwater could pose a danger to life. Simon Partridge, a forecaster with the UK Met Office, said: 'It looks like Northern Ireland is the place where we could see the most rainfall and certainly the most impactful rainfall. 'They could see 50 to 75mm of rain within 12 to 18 hours.' The region records an average of 89mm of rain in July, meaning more than half a month's rainfall could hit Northern Ireland in less than a day. A yellow-level thunderstorm warning was in place for the western half of Northern Ireland between midday and 8pm on Sunday. Warning Updates Status Orange Rain & thunderstorm warning for Dublin, Louth & MeathValid: 00:00 21/07/25 to 14:00 21/07/25 Status Yellow Rain warning for Kildare, Wicklow & MonaghanValid: 00:00 21/07/25 to 14:00 21/07/25 Stay safe and updated⚠️ — Met Éireann (@MetEireann) July 20, 2025 The Republic of Ireland's forecasting agency, Met Eireann, issued its own orange-level rain and thunderstorm warning for Dublin, Louth and Meath between midnight and 2pm on Monday. It said there would be widespread surface flooding, very difficult travelling conditions, lightning damage and very poor visibility. A yellow-level warning for Kildare, Wicklow and Monaghan applies for the same time frame. It said there will be spells of heavy rain with a chance of isolated thunderstorms, localised flooding, poor visability and difficult traffic conditions. It followed earlier thunderstorm warnings for Cork and Clare in the south-west of the country, which had both expired by 7pm on Sunday.
Irish Times
4 days ago
- Health
- Irish Times
Public opinion is now toxic, warns former minister for health
People in Northern Ireland must wait 11 times longer than people in the Republic for urgent operations, yet the HSE gets no credit, a former minister for health has said. Stephen Donnelly said waiting lists in the Republic have fallen by 60 per cent over the last three years, yet few in the public know anything about it, or want to know anything about it. 'It is improving rapidly. They're doing incredible work. It's not all the way there, but it's moving really quickly,' the former minister told the Patrick MacGill Summer School in Glenties, Co Donegal. 'It's hard to find another country in Europe that has achieved anything like that. Emergency department pressures are falling. Women's healthcare is being transformed. There's a lot of really good things happening now,' he said. READ MORE 'Don't get me wrong. Not for a moment am I suggesting that it's fixed, or that everything is right. It's not. I know it's not. But it's moving in the right direction so quickly that we are on track to have achieved universal healthcare within the next five years.' Despite the improvements, the public narrative about the Republic's health system is 'a black hole', said Mr Donnelly, who served as served as health minister from June 2020 to January 2025. 'Contrary to the national view on this, we have a public health service that is improving at an extraordinary rate,' he said. The negativity surrounding public attitudes towards the health service is typical of the attitudes towards nearly every other element of Irish public life, which is increasingly corrosive and destructive, said Mr Donnelly, who lost the seat he held for Fianna Fáil in Wicklow at the last general election. 'If we are to be serious about navigating what is an increasingly fractured and turbulent world, we're going to have to have a different conversation about who we are. We need to balance the conversation,' he told the summer school. [ Warning labels on alcohol an idea from 'different time', Minister warned Cabinet colleague Opens in new window ] 'It's not that we shouldn't shine a light on the challenges that exist. Of course we should, we do and we must always do that, but we've got to start bringing some balance.' Six months after he stepped down as minister for health, Mr Donnelly said: 'What strikes me is that the political debate has become harsher and harsher. You would be forgiven if you were watching a lot of TV for believing we live in a failed state. 'And we really, really don't. Social media has just gone completely off the reservation. Fourteen years ago when I was first in politics, it was fairly all right. People used it to put out their ideas and have chats. Now, it's just poison. 'There's lies and misinformation and hatred and racism and poison, and ... but it is being consumed all the time,' said Mr Donnelly, who was a Social Democrat TD before he joined Fianna Fáil. Social media would have us believe that Ireland is in 'a state of perpetual crisis', he said. 'That the doctors and the nurses are all leaving. The teachers are all leaving. The young people are all leaving, or the Government is uncaring, incompetent and corrupt.' [ Brother of Veronica Guerin criticises Catherine Connolly over nomination of Gemma O'Doherty for 2018 election Opens in new window ] Foreign friends who have visited Ireland say they have heard nothing but complaints when they have travelled around the country for a week, he said. 'You meet them, and they just say, 'What is wrong with you people?'' Ireland does face some 'immense, some deadly serious challenges', but so does every other country, he said. 'The level of negativity that we see here is not normal. It does feel like there is something particular going on in Ireland at the moment.' Ireland is 'incredibly well placed' to become a world leader in the use of artificial intelligence in healthcare, he said. 'There's a wave of innovation coming. Some of it's already here.'
