Commercial Bank of China, World’s biggest bank signs up to work with Tthe IDA
CHINA/IRELAND BRIDGE OF AGREEMANT:
I.D.A. 
THE WORLD’S biggest bank, the Industrial and Commercial Bank of China, has signed a memorandum of understanding to co-operate with the IDA, describing the agreement as a “bridge of economic change between Ireland and China”.
The memorandum was signed on the last day of a visit to China, led by Taoiseach Enda Kenny and Minister for Jobs, Enterprise and Innovation Richard Bruton.
The agreement is with ICBC Financial Leasing, the bank’s leasing arm. This company currently leases 37 aircraft worth about €1.5 billion from its Dublin office, which opened in May 2009.
It does business in 10 countries from the Republic. Last year the company completed a dollar bond transaction to provide financing and ordered almost 100 other aircraft. Over the next six to eight years, these will be leased to global airlines from Dublin.
Mr Kenny spoke of Ireland’s attractive investment environment, based on talent, technology and “the simple and transparent tax environment”. Yang Kaisheng, chief executive of the parent ICBC, spoke in English, which happens extremely rarely in China. The bank has nearly 400,000 employees and €1.43 trillion in assets. “ICBC is the largest bank in the world, and we are ready to serve as the bridge for economic change between Ireland and China. We believe the signing of the MOU will be a milestone for a fruitful partnership,” he said.
The memorandum was signed by IDA Ireland chief executive Barry O’Leary and Cong Lin, the chief executive of ICBC Financial Leasing. Mr O’Leary said the memorandum would form a basis for further co-operation on commercial projects. IDA Ireland and ICBC Financial Leasing will hold regular meetings to explore further commercial opportunities. He said the company has an unrivalled client base and network.
“ICBC is a true global leader in financial services and its leasing arm is rapidly growing its aircraft leasing business. Such agreements provide a boost to the Irish economy as we seek to cement long-term links with China across a range of growing industries,” he added. China was a medium- to long-term prospect for securing new sources of foreign direct investment.
“There are, however, some short-term investments bubbling at the moment, and we are hopeful that at least some of these will come off over the coming months,” Mr O’Leary said.
Rising road fatalities in the west & in particular Galway buck the national trend
Twenty per cent of drivers killed in road accidents in the Western Region in 2011 were not wearing seat belts, according to figures released by Gardaí.
At the launch of Operation Focus at Oranmore Garda Station last Thursday, it was revealed that fatal collisions, as well as incidences of non-use of seat belts, and mobile phones use while driving are showing an upward trend in counties Galway, Mayo, Clare, Roscommon and Longford, compared to a downward trend nationwide.
Fatal collisions increased from 26 to 31 between 2010 and 2011 in the Western Region, compared with a decrease from 182 to 172 nationally.
Thirty-five people have already been killed on Irish roads in 2012 and 13 of these have been in the Western region, while seven road deaths, 20 per cent of the national total, have been in Co. Galway.
Operation Focus, which was rolled out in Dublin in February, is a Garda initiative to raise awareness of the main causes of fatalities on Irish roads: speeding, driving under the influence of alcohol or drugs, non-use of seatbelts, and mobile phone use while driving.
Speaking at Oranmore Garda Station, Assistant Commissioner John O’Mahoney of the Garda National Traffic Bureau said that speeding and non-use of seatbelts were areas of particular focus for the West.
Eighty-four per cent of road deaths in the Western region occurred on roads with 80km per hour or 100km per hour speed limits, said Asst Comm. O’ Mahoney.
Asst Comm. Jack Nolan of the Western Region said that Operation Focus was “an attempt to identify any particular causes or reasons contributing to road fatalities”.
The upward trend in road fatalities in the West, which began in mid-2010, was a cause for particular concern, said Asst Comm. Nolan.
Under Operation Focus, Gardaí will focus a large concentration of resources on a particular area for 24 hours at known high-risk locations. Visibility will be high in order to promote driver awareness.
“It’s not about catching people, it’s about making people aware,” said Asst Comm. O’ Mahoney.
Asst Comm. Nolan also said that there was a high proportion of pedestrian and motorcyclist deaths on western roads.
“We would ask people to wear high-visibility clothing and at all times take precautions on the road, and we would ask motorcyclists to stay within the speed limits and stay within the rules of the road,” said Asst Comm. Nolan.
However, Jim Higgins, MEP for Ireland North-West, claimed this week that a reduction in Garda numbers in the West was costing lives.
“Last year in Co. Galway there were 13 deaths in total. We are not even to the end of March this year, and there have been seven deaths. If we don’t manage to stop this increase, 28 people could lose their lives in the county this year. Obviously it is not possible to put Gardaí on every road in the county, but we must do much more to ensure visible policing of our roads,” said Mr Higgins.
“I very much welcome Operation Focus, but I have also written to the Minister for Justice to plead for extra funding for the western division to replace squad cars, which are being retired without replacement at present,” he added.
“There are economic costs to road traffic accidents, which have been measured by the Road Safety Authority. What cannot be measured is the human heartache being experienced by Galway families when there is a serious accident. To this end, I am calling on all drivers to heed their speed, to slow down and to belt up,” said Mr Higgins.
Sinn Féin to launch a bill to reverse the household charge
Sinn Féin spokesperson on environment, community & local government Brian Stanley has announced that he intends to introduce a bill that will reverse the household charge.
Speaking ahead of the launch of the bill, Deputy Stanley said: “The bill, entitled Local Government (Household Charge) (Repeal) Bill 2012, aims to repeal the household charge and allow the Department to reimburse those households that have already paid it.
“Sinn Féin will be tabling the bill during private members’ time in June,” Deputy Stanley said.
“Meanwhile we intend to run a positive, proactive ‘Back the Bill’ campaign. This campaign will be inclusive and community-based. We will be using the next few months to lobby and encourage TDs from all parties, including government parties, to vote for our bill in June.
“To date the household charge has been a disastrous episode for the government and in particular for the Minister of Environment, Phil Hogan,” Deputy Stanley said.
“The vote in June will give the minister the opportunity to undo some of the damage his charge has inflicted on the coalition.”
Trade union Mandate said it supported the bill as it felt the charge disproportionately affects those on lower incomes.
However Mandate General Secretary John Douglas said the union will support the Government in introducing a fair and progressive property tax.
“One of the causes of the country’s current economic difficulties was our over-reliance on transaction taxes like Stamp Duty,” Mr Douglas said.
“In order to rectify this situation we need to put a proper tax system in place and a property tax needs to be part of that – however, one that is fair and progressive.
“The household charge is unfair and regressive because it levies every household – whether they have an income of €10,000 or €1,000,000 – the same amount of money, €100.
“This is simply not right.”
Large crowd at the rebel county Cork Household Charge meeting
Members of the public at last nights meeting in the Metropole Hotel, A large crowd turned out last night in the Metropole Hotel in protest against the upcoming Household Charge, the deadline of which is Saturday.
Over 400 people packed into the hotel ballroom to hear speakers against the government levy and to voice their own concerns also.
Cork City Councillor Mick Barry (Socialist) branded the Labour Party as “traitors” while invoking the memories of James Connolly and Jim Larkin in a firebrand speech that resulted in a standing ovation.
Cllr Barry conceded the point that not to pay the Household Charge is breaking the law, but assured all those present that the Campaign would support anyone who was brought to court with legal and moral aid.
“The campaign is now a million strong” said Cllr Barry.
“They cannot take us all to court. They cannot take a majority of us to court. They even cannot take a significant minority to court, however they can take one or two of us. This movement pledges that anyone brought for legal proceedings will not go it alone. You will have the full support of the campaign, and the community.”
Cllr Barry also confirmed that anyone interested will travel to Dublin on Saturday, deadline day, and protest at the Fine Gael Ard Fheis in the Convention Centre. Cllr Barry also confirmed that the movement will revive the traditional Mayday protests.
Earlier in the evening Workers’ Party Councillor Ted Tynan emphasised the non-party appeal of the movement.
“It’s very imprtant that it not be dominated by the parties, but rather by the people. Political parties can take over very easily and then the movement fails” said Cllr Tynan.
“There are all walks of life here tonight who I have been talking to. People from Fine Gael, Fianna Fáil, Labour and lots of others. It doesn’t mean they will vote differently but they are against this charge for sure.”
The meeting heard from a number of people involved in local campaigns against the charge including Elizabeth Feehan from Ballyvolane who penned an open letter to Taoiseach Enda Kenny about the charge and the series of cuts happening in the country.
“Nero was a madman when he burned Rome Enda, what’s your excuse?”
William Grant and Sons to build a new Irish distillery
William Grant & Sons said the new distillery would meet the long-term production demands for Tullamore Dew
The spirits firm William Grant & Sons has announced that it intends to build a distillery for its Tullamore Dew whiskey brand in Ireland.
The £35m investment will bring whiskey production back to the County Offaly town for the first time since the original distillery closed in 1954.
The Speyside-based distillers said the development would meet the long-term production demands for Tullamore Dew.
Demand for the brand is currently growing by more than 15% annually.
William Grant & Sons bought the spirits and liqueur business from the Irish company C&C group for around £250m in July 2010.
Work on the new distillery, which will utilise the latest in green technology, is scheduled to begin later this year, subject to planning permission.
William Grant & Sons Chief Executive Stella David said: “This investment underpins our long-term commitment to Tullamore Dew, the town of Tullamore and Ireland.
“It represents an important next step in the long-term growth and development of the Tullamore Dew brand, one of Ireland’s food and drink export success stories which is now the second-largest selling Irish whiskey worldwide.”
According to the company, the plan for a new distillery has been prompted by the brand’s rapid growth, driven largely by increased consumer demand for Irish whiskey in the USA and emerging Irish whiskey markets such as Germany, Sweden and Eastern Europe.
Soldier jailed over sexual assault in Bundoran
A soldier who sexually assaulted a student at a seaside resort was jailed yesterday.
Adrian Gallagher, who was based at Finner Camp and served on a number of overseas missions, was given a 12-month sentence at Donegal Circuit Court, with six months suspended. His victim, who cannot be named on court order, is in her 20s.
Judge John O’Hagan said Gallagher (32), Dartry View, Kinlough, Co Leitrim, followed the woman from a nightclub in Bundoran in October 2009 and subjected her to a horrendous ordeal. The court heard he dragged her to the ground, punched her in the face and put his hand between her legs.
In a victim impact statement, the woman, now a student, said that for seven months after the attack she did not leave her house.
Gallagher admitted the sex assault and at a previous hearing apologised to his victim.
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