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Blackstone eyes Panda waste while Barrett's Bartra plans €600m developments

Seen and Heard: US companies criticise work permit delays as Saudi trade ties deepen

FoodCloud is reportedly looking to double its operations after securing €1.5 million in investment

Sun Oct 28 2018 - 13:04

The Sunday Business Post leads with a report suggesting deeper business ties between Saudi Arabia and the Republic of Ireland with an estimated €10 billion in annual trade between the two jurisdictions.

The same newspaper says stockbroker Davy is to aggressively grow its capital markets division. The company announced the appointment of AIB boss Bernard Byrne to the company on Friday.

US multinationals have criticised the Government over delays in granting work permits, according to records obtained by the Post.

The newspaper also reports on a new Chinese distribution deal for craft beer company Metalman.

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Bartra Capital, the company founded by the developer Richard Barrett, plans to build more than €600 million worth of residential and commercial property over the next few years, according to a report in the Sunday Independent.

The newspaper also says that social enterprise FoodCloud is looking to double its operations after securing €1.5 million in investment from AIB.

Elsewhere, the paper reports that C&C is to begin stockpiling cider at its UK bases from the start of the year ahead of Brexit.

It also claims that the Irish Auditing and Accounting Supervisory Authority is reviewing the bank loan agreements of listed companies.

The audit watchdog has also reportedly given up to 200 ACCA-affiliated firms a so-called "Brexit reprieve" enabling the firms to retain their rights to practice here if Britain crashes out of the EU without an agreement, according to the Sunday Times.

The newspaper reports that US private equity company Blackstone is believed to be in advanced talks to acquire a stake in Beauparc Utilities, the owner of waste companies Panda and Greenstar.

Separately, the Sunday Times says that South Korean investment group Hana Financial is close to finalising deals to buy two Dublin office blocks for almost €240 million.

The same publication reports that hotel group Tifco has dropped out of the running to build and operate a 400-bed hotel at Dublin airport.

Elsewhere, it says that tech companies Profitero and Nova Leah have raised €9 million and €1.5 million respectively.

The Sunday Telegraph says dozens of concessions belong to Philip Green's Arcadia fashion empire are at risk after Debenhams confirmed it is to close almost one third of its stores.

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