27 October, 2023 in Industry News

NI Business News Round-Up - Week ending 27th October 2023

This week in the news…

Business News

Danske Bank in Northern Ireland has reported soaring pre-tax profits for the first nine months of the year, up over 90% from £79.6m to £152.2m - The bank said the strong performance was down to growth in lending, higher UK interest rates and more transactional activity. And despite rising interest rates, mortgage lending in the housing market was still strong, the lender said. (Source: Belfast Telegraph)

Powersharing deal ‘getting there’, says Kennedy as leaders meet with investors - The US special economic envoy to Northern Ireland is “optimistic” about powersharing resuming after meeting leaders as part of a four-day visit by potential American investors. Joe Kennedy III is leading a US delegation of around 50 potential investors and job creators, including representatives from Meta, Google and Microsoft. (Source: BBC News)

Tesla is set to significantly expand its physical presence in Northern Ireland - The US electric car manufacturer has taken over the former Donnelly Honda showroom on Boucher Road in Belfast. It comes just over three years after Tesla opened its first site in the north. (Source: Irish News)

Insider Media has launched the 2023 list of the 100 largest Owner Managed Businesses by turnover in Northern Ireland - (Source: Insider Media) 

Planning permission has been granted for a new 120-bedroom hotel in the listed former war memorial building in Belfast’s Cathedral Quarter.

Manufacturing giant Caterpillar posted an increased operating profit of £22 million in its Northern Ireland operations in 2022, despite continuing to lay off staff. (Source: Irish News)

Graham a County Down-headquartered construction and civil engineering company, has been appointed to design and complete elements of the Western Growth Corridor development in Lincoln. (Source: Irish News)



Family-owned healthcare operator Ann’s Care Homes has acquired seven nursing homes from Larchwood Care (NI) Ltd for an undisclosed sum. And the move secures the jobs of 560 staff and care of 320 residents across the new properties, which adds to Ann’s current portfolio of 16 nursing homes across Northern Ireland. (Source: Irish News) 



Demand across Northern Irish commercial property fell in Q3 2023, according to the latest Royal Institution of Chartered Surveyors (RICS) Commercial Property Monitor, against the backdrop of a challenging economy and lending conditions. (Source: Insider Media) 

High rates remain a ‘wrecking ball’ for hospitality - The newly appointed chair of Hospitality Ulster has said non-domestic rates in Northern Ireland remain a 'wrecking ball' for the hospitality sector, crippling businesses at a time when the government needs to provide support right across the industry. (Source: Irish News) 

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