Altada to be sold in unexpected turn of events; Ireland’s €1 billion whiskey export industry

This morning's stories you need to read in business, politics and current affairs

James Doherty: ‘I’m a small guy in thinking, but I’m hard-wired like a corporate.’ Picture: Joe Dunne

Exclusive: Altada to be sold to founding investor in unexpected turn of events

A founding investor in Altada has succeeded in his bid to acquire the technology company out of receivership ahead of the preferred bidder.

Employees are on Thursday evening being informed that an offer put forward by Datech has been accepted with a deal expected to be completed shortly.

‘I only see good things at the moment’ – Irish Whiskey Association chair James Doherty on a booming industry

As that the value of whiskey exports exceeds €1 billion, the founder of Sliabh Liag Distillers and chair of the Irish Whiskey Association sits down with Barry J Whyte, and says there is more growth to come.

High fees on taxi drivers at Dublin Airport compounding ride shortages, Free Now tells government

Free Now, the taxi-hailing platform, told the government that high fees imposed on drivers by DAA were exacerbating ride shortages at Dublin Airport.

The company wrote to a number of TDs last October to complain about the airport’s rule that drivers who want to pick up passengers from the airport’s main taxi rank have to buy a permit, which costs €440 for a year. Taxi drivers must also make a minimum of 120 trips over a three-month period to retain their permit.

New mortgage approvals rise to €15bn as customers seek new deals amid rising interest rates

Nearly €15 billion worth of mortgages were approved last year, according to figures from the country’s banking lobby group, in a trend driven largely by the high number of people switching lenders amid rising interest rates.

Data from the Banking and Payments Federation Ireland (BPFI) showed that some €1.5 billion worth of mortgages were approved in November 2022 alone – a 2.5 per cent increase compared with the previous month and significantly higher than the same month in 2021. This value arose from the fact that 5,433 mortgages were approved in November.

Citi signs deal with Ronan Group for new European HQ in Dublin’s Docklands

Citigroup, the multinational investment bank, has agreed a two-year deal with Ronan Group for the development of its European headquarters in Dublin’s Docklands.

The US-founded firm is to occupy approximately 300,000 sq ft., or 60 per cent of the commercial office space of the Waterfront South Central scheme. Ronan Group is also planning to develop an additional 200,000 sq ft. of office space at the site. The development is expected to be completed by 2026.

Law on Trial: Building Dentons’ Dublin office from scratch with a powerhouse team

The law firm’s country head for Ireland, Eavan Saunders, sat down with Business Post legal correspondent Catherine Sanz to discuss gender balance, Britain’s ‘macho’ industry, and a gap in the litigation market.