Latest from Irish Post
Irish Post
3 hours ago
- Business
- Irish Post
Northern Ireland's economy shrinks amid global uncertainty
NORTHERN Ireland's economy contracted by 0.6% in the first quarter of 2025 after a full year of steady growth. This downturn, revealed in the latest Northern Ireland Composite Economic Index (NICEI), marks the first economic reversal since the end of 2023. Construction output dropped by 5.1% quarter-on-quarter, while industrial production, particularly manufacturing, also shrank. The NICEI attributes the quarterly fall to these sectors, though it noted that services - the economy's largest sector - remained flat rather than in decline. Despite the recent contraction, the overall economic picture is more complicated. Year on year, Northern Ireland's economy has grown by 1.6%, outperforming Britain's 1.3% growth. On a rolling four-quarter basis, growth stood at 2.7%, double the British average of 1.3%. Economic output is now 10% above pre-pandemic levels, with private sector output alone 10.5% higher than in late 2019. The services sector, covering everything from hospitality to legal services, has been a key driver of this post-Covid recovery. Richard Ramsey, Professor in Economics at Queen's University Belfast, said the figures point to a 'reversal in fortunes' for the private sector. While public sector jobs and agriculture provided some stability, they were not enough to offset losses elsewhere. Mr Ramsey also raised concerns about global factors. The temporary suspension of US tariffs introduced by Donald Trump is set to expire soon. The uncertainty around potential new tariffs has already led to revisions in growth. 'The local economy is expected to see a growth rate of around one third of last year's figure,' he said, noting that businesses are already grappling with new tax burdens introduced in April. In contrast, agriculture in Northern Ireland is enjoying a remarkable boom. Total income from farming (TIFF) is expected to rise by over 60% this year, reaching £766m - up from £471m in 2023. The increase is driven by reduced input costs and improved prices for dairy, beef and lamb. Average farm business income is projected to more than double, thanks to falling prices for feed, fertiliser, and machinery. Agriculture Minister Andrew Muir said in a public statement: 'My department is focused on helping farmers mitigate cost and price pressures while improving productivity and sustainability."
Irish Post
7 hours ago
- Business
- Irish Post
Ireland launches major maritime overhaul to fuel growth
IRELAND has introduced major new maritime legislation to help the country's offshore energy sector and fuel growth in its blue economy. The new law, which came into force on June 1, 2025, establishes a dedicated Marine Accident Investigation Unit (MAIU) and a regulatory framework for offshore service vessels (OSVs). These are Ireland's first specific rules for OSVs, which previously fell under outdated EU passenger ship regulations. Boats and ships must now meet strict international safety standards, obtain industrial personnel safety certificates and face rigorous inspection and enforcement measures. The legislation also transforms marine accident investigations by replacing the part-time Marine Casualty Investigation Board with a permanent, full-time MAIU, aligning with global best practices in aviation and rail safety. Garrett Monaghan, an expert in the field said in a statement on Pinsent Masons that the reforms will strengthen marine security and help boost investor confidence in ocean-based industries. However there are risks involved:'Ireland aims to generate at least 37 GW of offshore wind by 2050,' he said. 'These installations require constant marine logistics, crew transfers, and infrastructure protection. Without robust marine safety and security, the energy transition is at risk.' Ireland's ocean economy contributed €2.7 bn in gross value added last year and supports nearly 40,000 jobs. With a marine territory ten times the size of its land, the country is positioning its seas as a pillar of sustainable economic growth. See More: Irish Sea, MAIU, OSV
Irish Post
8 hours ago
- Irish Post
Copenhagen - cool, cultured and deliciously Danish
WE checked into Coco Hotel, a boutique bolthole in Vesterbro that feels more Parisian guesthouse than Nordic. With a leafy courtyard, curated interiors and laid-back charm, it's a stylish base. Rooms come with ensuite showers and are comfortable, if compact. The hotel's buzzing bar and café is ideal for a morning espresso or late-night spritz. Central Station, Tivoli Gardens and the Meatpacking District are all within a 10-minute stroll. Day 1: Street Food, Cycling and a Sustainable Supper First stop was Torvehallerne, a covered food market just north of the city centre. It offers everything from fresh produce to olive oils, natural wine and chocolate, to food bars serving dishes from around the world. Locals head to Hija de Sanchez, it's known for serving some of the best tacos in the city, created by former Noma chef Rosio Sanchez. Suitably replenished, we did as the Danes do and hopped on two wheels for a bike tour with Get Your Guide. We took in the Little Mermaid, Christiansborg Palace and colourful Nyhavn (worth a quick photo stop, but be warned: eateries here are overpriced). Cycling around Copenhagen is incredibly safe — we saw everyone from schoolchildren to politicians gliding along dedicated bike lanes and car-free roads. Even the Queen cycles here. Pedal power reigns supreme. For dinner, we headed to the redeveloped Carlsberg City district and Beyla, a cosy spot known for its plant-based cuisine. The menu is organic, vegan and gluten-free, but flavour takes centre stage. We opted for the tasting menu with wine pairings, featuring confit leeks with hazelnut praline, Gochujang-glazed mushrooms, and pine nut risotto. The standout? Gochujang-glazed mushrooms, grown on the restaurant's farm just 15 minutes away — delivered daily, by bike, of course. The Little Mermaid statue in Copenhagen (Syced Creative Commons CC0 1.0 Universal Public Domain Dedication) Day 2: Bakeries, Neighbourhoods and Natural Wine We started the day at Tír Bakery, just a 10-minute walk from the hotel. Founded by former Noma baker Louise Bannon, this corner spot is loved by locals and visitors. Everything is organic and made with fresh grains. Its cardamom buns, paired with a filter coffee, made for the perfect Danish breakfast — top tip: arrive before 11am as pastries sell out. Next stop: the Nørrebro district, Copenhagen's most culturally diverse area. The vibe is youthful and unpolished — where tattoo studios sit alongside vegan cafés, and art collectives share walls with vintage record shops. Tucked within Nørrebro is Jægersborggade, one of the city's most interesting shopping streets. Once gritty, it's now home to ceramics studios, artisan bakeries, vintage boutiques and natural wine bars. In the middle of this street is Paesano, a relaxed restaurant blending Italian roots with Copenhagen flair. With exposed brick interiors and a menu built around simplicity and regional specialities, it's the perfect spot for a long lunch. I enjoyed homemade pasta with ragù, while my daughter's deconstructed parmigiana di melanzane looked incredible and was delicious. The afternoon was spent browsing vintage shops, admiring local ceramics, and soaking up Copenhagen's laid-back café culture. We nearly skipped dinner at Bæst — 'We can get Italian at home,' my daughter protested — but we were glad we didn't. This organic gem in Nørrebro boasts impressive credentials: it crafts its own mozzarella and burrata on site and cures its own meats. Our waiter recommended the tasting menu, which included what might be the best wood-fired pizza we've had outside Italy. The waterfront Copenhagen (Syced Creative Commons CC0 1.0 Universal Public Domain Dedication) Relaxed yet polished, Bæst is the sort of place locals take visiting friends. Day 3: Pastries, Boats and Design Icons Our final day began with a two-hour Danish pastry tour via Get Your Guide, visiting five bakeries, including Reinh van Hauen — Copenhagen's oldest family-run bakery — and Hart Bageri, where yet another Noma alumnus has elevated baking to cult status. We arrived hungry and left content, walking between stops and learning the stories behind the city's flaky, buttery creations. Next, we swapped pavements for water with a GoBoat Cruise, a one-hour guided tour of Copenhagen's waterways. Our captain navigated past houseboats, the Opera House, Paper Island, and buzzing waterside cafés. GoBoat's fleet is fully electric, offering a sustainable way to see the city from another angle. Highly recommend. Back on land, we returned to Vesterbro for lunch at BaneGaarden, a former railway yard turned eco-village. Quirky, creative and refreshingly local, this off-the-radar gem houses repurposed buildings offering restaurants, food stalls and a greenhouse dining space. Craft beers, natural wines and relaxed vibes made it feel like a hidden slice of Copenhagen life. As many shops close on Sundays, we visited the newly renovated Designmuseum Danmark. Housed in an elegant historic building, its beautifully curated collections span everything from mid-century Danish chairs to contemporary ceramics. Thoughtfully presented, it's a must for design lovers. Our final stop was Tivoli Gardens. Opened in 1843, this historic amusement park remains one of Copenhagen's prettiest attractions. With ornate pavilions, landscaped gardens and vintage rides, it evokes a19th-century nostalgia. Fun whatever your age. For our last meal, we dined at Höst, a modern Nordic restaurant ranked among the city's most atmospheric. Its design-led interiors — all reclaimed wood, flickering candlelight and artisanal ceramics — captured the coolness of Copenhagen. Its seasonal set menu, showcasing clever, foraged cooking, is the one to choose with dishes including creamy mussel soup infused with thyme and pinecones pickled in honey. It was a truly memorable meal to end our unforgettable trip. Beyond the big sights, it's in Copenhagen's laid-back neighbourhoods and hidden corners that the city's authentic character quietly unfolds. Travel by boat, bike or on foot to discover its real charm — best savoured slowly, coffee and Danish in hand. Accommodation Coco Hotel: Double rooms from 1045 DKK / £119 per night. British Airways: Flights from London Heathrow to Copenhagen from £47 each way, including taxes and carrier fees. See More: Copenhagen, Denmark
Irish Post
10 hours ago
- Business
- Irish Post
Ireland joins EU SAFE defence scheme
IRELAND is set to join the EU's new Security Action for Europe (SAFE) scheme. This will speed up Ireland's ability to acquire new defence systems like cyber and air defence technology. Tánaiste and Minister for Defence Simon Harris is expected to formalise the decision this week, marking a major change in Irish defence policy. The SAFE initiative, which came into force in May, streamlines defence procurement across the EU and provides financial support. It allows member states to bypass traditional procurement rules, allowing faster access to weapons and systems. Ireland's move comes in response to growing instability around the world. Russia's ongoing war in Ukraine and the unpredictable nature of Donald Trump have pushed the EU to strengthen its defence. Alongside SAFE, the EU recently announced its €800 billion ReArm Europe Plan, aimed at building a more self-reliant European defence network. The European Commission has made it clear: 'The era of the peace dividend is over.' Domestically, Ireland is also rethinking its neutrality. The government may soon drop the requirement for a UN Security Council mandate to send troops abroad—a move prompted by concerns over Russian and Chinese veto power. Mr Harris has also proposed doubling Ireland's defence budget to €3 bn annually. While Ireland lacks a traditional arms industry, its tech sector is well positioned to benefit. Companies like VRAI, which develops VR training tools for military applications, are advocating for greater investment in Irish-led innovation. The Irish Defence and Security Association (IDSA) is urging the government to support local SMEs in defence procurement. Ireland has long relied on a stable international order for its security. But with alliances shifting and threats growing, the government is making it clear: Ireland must be better prepared for what the future holds. See More: Defence, EU, IDSA, SAFE Scheme, Simon Harris
Irish Post
12 hours ago
- Business
- Irish Post
Dr Barry Drees returns to TriloDocs as an advisor
THE founder of an AI-platform which provides clinical reporting services has returned to the firm as an advisor following its acquisition by a global healthcare research leader. TriloDocs was founded by US-born medical writer Dr Barry Drees. With a PhD in Molecular Genetics from the University of California and postdoctoral research supported by the U.S. National Institutes of Health, Dr Drees is also a past President of the European Medical Writers Association (EMWA) and the former Editor in-Chief of the EMWA journal. He is the brains behind TriloDocs, a tool that uses artificial intelligence to generate an initial draft of a clinical study report (CSR). Dr Barry Drees (Pic: TriloDocs) "Pulling from all source documents, the draft report accurately reflects the input material (protocol, statistical analysis plan, and the data tables and figures), leaving the crafting of the messages to the medical writer and the clinical team," a TriloDocs spokesperson explained. "Building on years of knowledge from expert medical writers and combining this with the latest AI technology, we created a tool that is easy to use and incredibly powerful," they add. "TriloDocs does what software does well – it quickly and consistently processes information and finds signals in data, leaving the humans to do the part they do best – interpreting the results." The organisation was recently acquired by Genactis, a global leader in healthcare research and technology. "This strategic move marks a significant milestone in TriloDocs' growth journey, positioning the company to scale innovation and deepen its commitment to transforming the way Medical Writing teams draft and deliver CSRs," TriloDocs said of the move. "With Genactis' resources and global reach, TriloDocs is accelerating the product development roadmap, expanding support capabilities, and enhancing overall user experience, all while continuing to provide the same high-quality service and solutions our clients have come to expect," they added. This week they confirmed that Dr Drees would return to work with the organisation as an advisor. "We're proud to share that Dr Barry Drees, the founder of TriloDocs and the brilliant mind behind our rule-based AI - which applies expert medical writing knowledge to ensure unmatched data accuracy, has rejoined TriloDocs as an Advisor," the organisation said. "Barry's return comes at a pivotal moment as we expand and refine our product offerings post-integration into the Genactis family," they added. "His guidance will be instrumental in ensuring that TriloDocs remains the most accurate and reliable medical writing AI solution in the global market. "We're thrilled to have him back and helping to shape what's next for TriloDocs." For further information click here. See More: Dr Barry Drees, Genactis, Trilodocs
