Latest news with #IDA
RTÉ News
2 days ago
- Business
- RTÉ News
Concern over future of planned €300m Wicklow film studio
Concerns have been raised about the future of a €300m film studio planned for Greystones in Co Wicklow because three years after the project was launched, there has been no sign of progress. Locals say there's a lack of information about what's happening to the site, and expressed concern about the €24m of taxpayers money committed to the project. They say if the media campus, which was expected to create 1,500 jobs, is no longer viable, the land should be used for other business purposes. Plans for state of the art studio and production facilities on the 44 acre site were unveiled to much fanfare in 2022, promising to build Ireland's largest tv and film campus, which was to have begun operating in 2024. A consortium called Hackman Capital Partners took a lease on IDA land for the Greystones Media Campus for 999 years at just under €600 a year Louise Gaskin, Chair of the East Wicklow Business Network, says her members are concerned about the lack of progress on the site and the "void" of information about the project. "It would bring a lot of community employment and it would bring for businesses locally, huge economic development. "Lying idle, it's becoming an ugly site, overgrown, just lying there doing nothing. "First of all we were being told it was about the actors strike going on. Then we were told it's commercially sensitive. Then we're getting blanks. "No one's coming back with information. So who has the information? Someone has to know something." Ms Gaskin said that - if there are questions about the viability of the project - she would like to see the lease agreement revoked and the land put to other business use. Since the launch of the Greystones Media Campus three years ago, planning permission has also been granted for a large media campus in South Dublin called Dublin Fields. However, those in the industry say that the facilities at Greystones are still badly needed. Larry Bass, Founder and CEO of ShinAwil Productions, says the lack of studio space in Ireland meant that his company had to build a new studio to film Dancing With the Stars when it returned after Covid-19 lockdowns. He said that, despite global uncertainty and the threat by Donald Trump of tariffs on the industry, Ireland's film industry personnel remain in demand, but the lack of studio space is a barrier to attracting productions here "Apple, Amazon, Netflix, the BBC, the big American networks, these studios will all still, thankfully, be creating new shows. "We're an English language country, we've got a fantastic crew base. "It has evolved from, maybe five or six thousand people working in the industry 20 years ago to over thirty thousand people, highly skilled, highly sought after. "All we need is the raw material, the place, to build. And you know, this has never been a truer statement. If you build it, watch them come." The Department of Finance said that while investment is likely to be on a phased basis, it can't say how much of the €24m committed to the Greystones Media Campus has been spent to date. It also says that the current Minister has not had any engagement on the project from the Irish Strategic Investment Fund or the consortium behind it, Hackman Capital Partners. A spokesman for the consortium said that they will make a statement on the project in the coming months.
Irish Independent
6 days ago
- Business
- Irish Independent
Jobs boost for PayPal as new AI team will add 100 high-tech roles to data science centre in Dublin
The new AI team in Dublin will serve as a key part of PayPal's global network, the company said. The move represents a move higher up the value-added chain for PayPal's operations in Ireland, which began as a customer service operation in 2003. It also rolls back what has been a series of job losses in 2023 and 2024 and a retrenchment that saw the company close its large Dundalk operation, with most staff retained but moving to remote working two years ago. Two rounds of job cuts in 2024 reduced the workforce by close to 300. Even so the business still employs around 1,500 people in Ireland, down from a peak of 2,000. 'As we shape the next generation of digital payments, the talent and innovation coming from Ireland will play a critical role,' said Aaron J Webster, global chief risk officer at PayPal. We are proud to deepen our commitment to Ireland 'This expansion reflects both our confidence in the local ecosystem and our ambition to build an AI-driven, data- powered future that embeds trust and safety in every transaction. "We are proud to deepen our commitment to Ireland and to invest in highly skilled roles that will help shape the future of PayPal globally.' The new Dublin based jobs will span AI engineering, data science, software development, risk modelling and cyber security. The expansion is supported by the IDA . Minister for Enterprise, Trade and Employment Peter Burke said it represented 'a strong vote of confidence' in the country. 'The creation of 100 high-skilled roles in cutting-edge fields like AI and data science reinforces our status as a global hub for innovation, and I'd like to commend PayPal for its ongoing partnership with IDA Ireland,' he said. The hiring now underway at PayPal reflects the mixed impact the rapid adoption of generative AI is having on industry. While it creates demand for high skilled technologists in some sectors, there are signs that it saps demand for graduates in others. A report earlier this month from recruitment firm Morgan McKinley warned that Ireland may be following the UK, which has seen large accountancy and consulting companies slash graduate roles by up to 33pc because of AI. Their 'Irish Employment Monitor' found evidence of a reduction this year in graduate-level hiring, despite a booming economy.
Bloomberg
22-07-2025
- Business
- Bloomberg
UK Cuts World Bank Funding by 10% After Slashing Aid Budget
The UK is cutting its £1.98 billion ($2.7 billion) pledge to an arm of the World Bank by 10% and reducing aid to some countries to help cover the cost of increased military spending. Prime Minister Keir Starmer's government on Tuesday said it would soften the impact of rolling back its commitment by accelerating the pace of the payments to the International Development Association, which extends low-interest loans to poor countries. That would allow the bank to generate income with the money more quickly, offsetting the effect of the cut, the government said.
Zawya
18-07-2025
- Business
- Zawya
Twelve Million Kenyans to Benefit from a New Social Protection Project Aimed at Strengthening Human Capital and Economic Inclusion
The World Bank Board of Directors approved the Second Kenya Social and Economic Inclusion Project (KSEIP2) which will strengthen the country's social protection systems and scale up safety net support to twelve million citizens, including elderly, women, adolescents, children and other age specific vulnerable groups–while advancing human capital development and economic inclusion. The KSEIP2, a successor to the recently completed Kenya Social and Economic Inclusion Project (KSEIP), will build on the success and lessons learned from the relevant interventions implemented to enhance delivery systems for inclusive access to social and economic inclusion. It is financed by a $127.5 million investment from the International Development Association (IDA). ' Inclusive growth and poverty reduction are realized when there are more and better jobs as well as more accessible jobs for the poorest and most vulnerable populations,' said Qimiao Fan, World Bank Division Director for Kenya. ' The project's innovative elements will prepare today's children and adolescents for healthy and productive adulthoods, help poorer families with sustainable livelihood enhancement, and ensure that hard-won gains are not lost to food insecurity during the times of drought or other crises.' The project will scale up cash-plus programs for targeted age groups, complementing the existing cash transfers provided under the government's flagship National Safety Net Program (NSNP). KSEIP2 will promote inclusive and sustainable employment through the introduction of climate-resilient income-generating activities and by linking beneficiaries to government social insurance schemes for long-term savings and resilience. Given Kenya's vulnerability to recurrent droughts in the North and Northeastern Counties, the project will also strengthen the efficacy of social protection system through investments in modernization and provision of emergency social assistance as temporary support to offset the adverse impact of such crisis. ' The Government of Kenya is committed to supporting opportunities for every Kenyan family to sustainably exit poverty and vulnerability. The KSEIP2 Project supports the government's ambition on disrupting the vicious cycle of poverty by focusing on investments in children and adolescents, as well as households with productive capacity,' said Shubha Chakravarty, Senior Economist and the Task Team Leader, World Bank. ' This objective will be achieved by working in synergy with other relevant government programs.' The project is consistent with the FY23-FY28 World Bank Group Country Partnership Framework (CPF), particularly with the objectives of increasing household resilience, national preparedness for shocks response, and priorities around human capital development and jobs agenda. It is also in line with Kenya's vision 2030 while supporting the constitutional commitment to 'provide social security for all Kenyans who cannot support themselves'. Distributed by APO Group on behalf of The World Bank Group.
Time of India
10-07-2025
- Business
- Time of India
MP Growth Conclave all set to showcase ‘Cities of Tomorrow'
Indore: Indore is set to host the Madhya Pradesh Growth Conclave, themed 'Building Cities of Tomorrow', on Friday. The event aims to foster urban expansion, real estate development, and sustainable investment while promoting new opportunities in urban development across the state. A key highlight will be the Indore Development Authority (IDA) presenting its five major projects to potential investors. Urban administration and development department commissioner Sanket Bhondwe revealed on Thursday that the conclave will focus on four key sectors: Urban Mobility (including EV bus transport, ropeways, and metro), Urban Forestry Intervention, Real Estate, and Infrastructure Growth. He noted that a large number of investors from outside the state are expected to participate, particularly in the real estate and infrastructure sectors. Bhondwe announced that chief minister, Mohan Yadav, is expected to unveil projects and initiatives worth Rs 10,000 crore through this conclave. This high-level event has invited investors, industrialists, and corporate representatives from relevant sectors across the country. More than 1,500 delegates, including industry leaders, real estate developers, hotel industry and tourism representatives, and investors from across India, are anticipated to attend. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Secure your family's future! ICICI Pru Life Insurance Plan Get Quote Undo He stated that the Global Summit served as a benchmark, and continuous efforts are being made to build upon its success. "Our efforts regarding the Master Plan are also progressing rapidly, and you will soon receive good news on this front," he assured. He also mentioned progress on the Metropolitan Act, emphasizing that base-level planning is underway with efforts to systematically integrate it with IT. The conclave, to be held at BCC, will attract several major investors from across the country. High-level sessions will be organised on topics such as smart urbanisation, infrastructure planning, real estate, green buildings, sanitation, e-governance, digital transformation, and metro rail systems. A major attraction of the conclave will be the Urban Development Expo, which will showcase achievements in urban infrastructure and future development plans. A highlight of the event is IDA's plan to prepare five large-scale projects to attract investors. These projects will include flats, offices, malls, five-star hotels, and various other amenities. The arrival of companies due to these investments is expected to open up significant employment opportunities for the youth of the state, further enhancing the city's identity and attracting continuous business. In a significant development for the healthcare sector, Indore is set to receive a major boost with a proposed hospital investment. According to information, the conclave will also focus on healthcare investments.
