AGP Executive Report

Agriculture: EU ministers reached a partial agreement on the framework for the post-2027 Common Agricultural Policy, but funding and key details remain tied to wider budget talks. Finance: Aviva Investors committed £50m to a tokenized share class of its Ireland-domiciled Sterling Liquidity Fund; the fund’s £22bn portfolio remains in traditional investments. Rural Enterprise: Government plans a new fund to prepare sites and infrastructure for rural businesses, drawing on the existing €1bn Rural Regeneration and Development Fund. Data Centres: Protests will highlight concerns over energy demand, climate targets and potential costs for consumers as opposition grows. Local Business: Dublin firms say city-centre safety is affecting operations, while Cork shop owners warn higher commercial rates could force more closures. Tourism: Cork’s Jazz Festival is estimated to have delivered a €45m boost to the local economy.

Agriculture and Trade: Ireland’s EU Council presidency is prioritising agreement on a flexible, well-funded post-2027 Common Agricultural Policy, with trade deals and fishing quotas also on the agenda. Cork Businesses: Shop owners fear a proposed 7% commercial-rates increase could add to rising costs and push more businesses to close. Infrastructure: Demolition work has advanced the €456 million M28 project, which is intended to improve access to Ringaskiddy Port and is due for completion in 2028. Start-ups: EU ministers have retained plans for a company regime allowing online incorporation within 48 hours for up to €100, though tighter eligibility rules may limit access to tax benefits for employee share options. Financial Regulation: The Central Bank fined Coinbase Ireland €3.25 million over weaknesses in internal governance and customer-fund safeguards. Retail Pressure: Irish small retailers are warning that government policy and mounting costs are putting businesses under strain.

Storm Disruption: Storm Boelo left more than 40,000 Irish homes and businesses without power, disrupting services and trading. Digital Banking: Almost half of consumers now have a Revolut account, up from 43% last year, while 6% use it as their main account. The Government plans a new tax-free investment account next year as just 3% of consumers currently invest. Halloween Spending: The holiday is expected to generate more than €40 million across Ireland. Jobs: Flutter plans to cut up to 1,400 roles in the UK and Ireland as higher UK gambling taxes reshape its business. Financial Regulation: The Central Bank fined Coinbase Ireland €3.25 million over weaknesses in safeguards for customer funds. Housing: Applications have opened for 50 starter homes in Kinsealy, with two-bedroom properties priced from €380,000.

Storm Disruption: Storm Boelo left around 41,000 Irish homes, farms and businesses without power, with further warnings threatening recovery and trading. Tourism: Halloween events are expected to generate more than €40m for communities and tourism businesses, extending the visitor season beyond summer. Skills: The Government plans to pilot a simpler single-permit process for highly skilled workers, targeting sectors including nursing and IT. Housing: Construction insiders warn a new ministerial plan could trigger a building slump. Investment: International investors remain upbeat on Ireland despite corporate-tax concerns, while legal-tech start-up Estatemin has raised €1m. Commercial Property: Dublin’s industrial and logistics take-up has reached a near three-year high as south-west vacancy falls to 1.5%.

Transport Disruption: Storm Boelo caused flight cancellations at Dublin Airport, with further disruption expected. Skills and Jobs: Eighteen people graduated from Cork’s first AWS re/Start cloud-computing course, which prepares learners for entry- and mid-level roles; nationally, 76% of participants have found related full-time work. Small Business Pressures: The Cedar Tree, Ireland’s first Lebanese restaurant, is closing after 40 years, citing rising rents and costs. Employment: Flutter plans up to 1,400 job cuts across Ireland and the UK, with 240 Dublin roles at risk, amid higher UK gambling taxes. Trade and Investment: Irish technology exports surged 141% despite an overall trade decline, while Bloomberg plans to double its Dublin headcount by 2030. Corporate Results: Kerry Group maintained its 2026 earnings forecast after reporting 3.6% volume growth.

Corporate Results: Kerry Group held its 2026 earnings forecast after volumes grew 3.6%, while Dublin legal-tech start-up Estatemin raised €1 million in pre-seed funding. Housing and Investment: First-time-buyer mortgage drawdowns reached their highest level since 2008, and Mullingar-based Swaay raised €2 million to scale its drinks-can printing technology. Financial Regulation: The Central Bank fined Coinbase Ireland €3.25 million over safeguarding failures. Jobs: Flutter plans up to 1,400 cuts across Ireland and the UK as it responds to higher UK gambling taxes, with 240 Dublin roles at risk. Trade: Irish exports to the US fell by $1.3 billion as transatlantic trade slowed following tariff changes. Dublin Growth: Bloomberg plans to double its Irish workforce by 2030, while industrial and logistics take-up in Dublin reached a near three-year high.

EU Start-ups: Member states backed the “EU Inc” company framework, which would let firms register online within two days for up to €100 and operate across the single market. Ireland, holding the EU presidency, says it could help start-ups and smaller firms scale. Irish Business: Kerry Group maintained its 2026 earnings forecast after 3.6% volume growth, while Deliveroo’s Irish arm reported €64.09m in revenue and €2.89m in profit. Financial Regulation: The Central Bank fined Coinbase Ireland €3.25m over weaknesses in governance and customer-fund safeguards. Jobs and Investment: Flutter plans up to 1,400 job cuts across its workforce, with 240 Dublin roles reportedly at risk. Whatnot has opened its European headquarters in Dublin and plans to double its Irish workforce; Bloomberg also plans to double its Dublin headcount by 2030. Trade: EU ministers meeting in Dublin discussed widening trade talks with China beyond cars, as the bloc weighs measures to address its €359.8bn goods deficit. Exports: Irish technology exports rose 141% despite an overall decline in trade.

Food and Farming: Kerry Group reported 3.6% volume growth over the first nine months of 2026 and maintained its full-year earnings outlook. University of Galway research says more circular, diversified farming could reduce risks from climate change and trade disruption. Connectivity: Cavan’s €65m National Broadband Plan rollout is complete, bringing fibre access to 17,000 homes, farms, businesses and schools. Financial Regulation: The Central Bank fined Coinbase Ireland €3.25m over weaknesses in its customer-fund safeguards. Investment and Jobs: Lidl plans €420m for Munster stores and a Cork distribution centre, while Flutter plans up to 1,400 job cuts across Ireland and the UK, with 240 Dublin roles at risk. Bloomberg, by contrast, aims to double its Irish workforce by 2030. Trade and Industry: Ireland says it will support the European Commission’s proposed Russia sanctions, as scrutiny continues over exports from Limerick’s Aughinish Alumina. France is also pressing the US to extend Irish whiskey’s planned tariff exemption to cognac and champagne.

Financial Regulation: The Central Bank fined Coinbase Ireland €3.25 million over weak outsourcing governance and failures in safeguarding customer funds. Retail Investment: Lidl plans to spend €420 million in Munster, including €200 million on a Cork distribution centre, 14 new stores and more than 500 permanent jobs. Housing Finance: Mortgage switching surged 41.7% in the third quarter year on year, as borrowers responded to rising interest rates; first-time buyer drawdowns also increased. Farm Support: More than €551 million in BISS and CRISS payments is being issued to 110,089 farmers after a six-day delay. Jobs: Flutter plans up to 1,400 job cuts across the UK and Ireland as higher UK gambling taxes reshape its business. Trade: Irish exports to the US fell by €1.2 billion amid slower transatlantic trade following US tariffs.

Investor Confidence: Ireland’s borrowing costs have drawn close to Germany’s on short-term debt, as international investors look past concerns over volatile corporation tax receipts. Farm Payments: More than 110,000 farmers are due to receive €551 million in delayed BISS and CRISS payments, a major boost for rural businesses. Energy Security: Imported gas supplied 83% of Ireland’s total in April to June, while domestic production fell 9% year on year. Mortgage Costs: PTSB has raised fixed mortgage rates by an average of 0.3 percentage points; existing fixed-rate customers are unaffected. Business Growth: Cork and Limerick start-ups won Munster’s Seedcorn competition and will compete for a share of an €800,000 prize fund. Digital Ireland: Nearly 4,000 premises near Macroom are set to gain access to high-speed fibre broadband. Trade: Irish exports to the US fell by €1.2 billion, adding to signs of strain in transatlantic trade.

EU Business Rules: The EU Council, under Ireland’s presidency, backed changes to simplify data protection, privacy and cybersecurity rules, alongside relief from packaging obligations for small producers. Jobs: Flutter plans up to 1,400 cuts across Ireland and the UK, with 240 Dublin roles at risk, as higher UK gambling taxes reshape the business. Trade: Irish exports to the US fell by about €1.2bn, while technology exports surged 141% despite an overall trade decline. Investment: Bloomberg plans to double its Irish workforce by 2030, making Dublin its largest European office; meanwhile, private-sector activity grew in the third quarter and Dublin industrial and logistics take-up reached a near three-year high. Farming: Tillage leases in parts of the south have topped €500 an acre, as solar farms and housing demand add pressure to land availability.

Jobs: Flutter plans up to 1,400 cuts across Ireland and the UK, with 240 Dublin roles at risk, blaming higher UK gambling taxes. Property: Dublin’s industrial and logistics market recorded its strongest quarter in nearly three years, with take-up up 65% year on year and south-west vacancy down to 1.5%. Farming: Irish MEP Barry Cowen says calls for a €433bn EU farm budget lack a credible funding plan; the current proposal is about €295bn, roughly 25% below the existing budget. Business growth: Bloomberg plans to double its Irish workforce by 2030, while Whatnot is also set to double its Irish team as it establishes a European headquarters. Trade: Irish exports to the US fell sharply amid slowing transatlantic trade, while August figures showed an overall export decline. Banking: The Supreme Court ruled that Bank of Ireland’s commercial loan terms allowed it to change the interest-rate benchmark unilaterally.

Jobs and Betting: Flutter, owner of Paddy Power, plans up to 1,400 job cuts across its operations, with about 240 Dublin roles at risk; it blames higher UK gambling taxes. Irish Investment: Whatnot plans to double its Irish workforce as it establishes a new European headquarters, while Bloomberg aims to double its Dublin headcount by the end of the decade. Digital Infrastructure: Equitix, Irish firm MDM and Orange have formed a joint venture to build a 3,125km subsea cable linking Galway with France, Spain and Portugal, backed by EU funding. Trade: Irish exports to the US fell by €1.2bn as transatlantic trade slowed amid tariff pressures. Travel Costs: Ryanair’s chief executive warned European airfares could rise by up to 20%, while the airline is cutting 20 Belgian routes as flight taxes climb. Business Climate: Ireland’s private sector grew in the third quarter, but consumers face the second-highest prices in the EU.

Jobs and Tax: Flutter, owner of Paddy Power and Sky Bet, plans up to 1,400 job cuts across its UK and Ireland operations, blaming UK gambling tax rises; around 240 Dublin roles are reportedly at risk. Dublin Investment: Bloomberg plans to double its Irish workforce by 2030, expanding its Dublin office, while the city’s private sector also recorded growth in the third quarter. Trade: Irish exports to the US fell €1.2bn, contributing to an overall August decline, though technology exports rose 141%. Agri-food: Ireland’s EU presidency secured a provisional deal to clarify organic-product rules and reduce red tape for farmers and businesses. Fintech Disruption: A Google Cloud outage affected Revolut and other services, leaving some customers unable to access banking features or make card payments. Infrastructure: Dublin Port is seeking contractors for a €250m framework.

Tech Investment: Bloomberg plans to double its Irish workforce by the end of the decade, after growing its Dublin team to 190 and making the city its largest EU office. Insurance Costs: Motor premiums rose 4% in 2025 to an average €655, while insurers’ claims costs per policy climbed 10%, Central Bank data show. Start-up Funding: Roscommon’s VetPal and two other Irish ventures reached the Seedcorn all-island final, competing for a €130,000 prize. Food and Retail: Grocery inflation hit 4.69% in October, squeezing shoppers, while a Limerick bakery secured a €5m contract extension with Aldi. Trade and Transport: Shannon Foynes Port reported record profits as revenue reached €17.6m; meanwhile, Irish exports fell 1.2% in August, with trade to the US and EU weakening. Agriculture: Delayed BISS and CRISS payments are due before the weekend after unions allowed the payments to proceed. Property Tax: A new 7% derelict-property tax is planned for 2027, with calls to extend coverage beyond larger towns and ringfence revenue for local areas.

Grocery Prices: Annual food inflation climbed to 4.69% in the 12 weeks to 4 October, with shoppers increasingly focused on promotions and value. Kerry Group: Shares rose more than 10% in October to their highest level since July 2025. The company is targeting 20–21% EBITDA margins by 2030, citing growth in product reformulation. Clean Energy: Minesto won a €20.2 million EU grant to cover 60% of investment in a planned 10 MW tidal project off Ireland. In Wicklow, Echelon’s data centre plans pair computing capacity with renewable generation, batteries and grid-support facilities. Business Activity: Dublin’s private sector grew for a third quarter, with a PMI of 52; activity across the rest of Ireland rebounded to 54. Trade and Ports: Irish exports to the US fell by €1.2 billion, according to CSO figures, while Shannon Foynes Port reported record 2025 turnover of €17.63 million and operating profit of €5.71 million.