Ian Kehoe: The miracle of Mary Street

Associated British Foods, the owner of Primark, has just climbed to the top of the Ftse 100

Arthur Ryan is now chairman

It has long been more fashionable to laud the multinationals that arrive in Ireland rather than the Irish multinationals that expand abroad. Ireland has a love affair with foreign direct investment stretching back decades, and the success of indigenous Ireland Inc often gets crowded out of the conversation.

But make no mistake, the unfettered rise of Penneys is a global success story rooted in the heart of Dublin city in a recently revamped ...