Opening Bell: Irish growth forecast upgrade, 80 new aviation jobs, euro hits six-month high

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Davy has upgraded its growth forecast for the Irish economy, it expects it to grow by 5% this year. That is up from a previous forecast of 3.7% growth.

"That would likely make Ireland Europe’s fastest growing economy again this year," the report added.

It also expects Ireland's GDP to expand by 3.8% in 2018.

These predictions are based on a scenario where the UK leaves the EU with a transitional deal - which would avoid the introduction of WTO trade tariffs.

The report also increases the expected rate of house price inflation, rising from 8% to 10%.

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80 new aviation jobs have been announced in Dublin and Shannon today by CAE Parc Aviation.

The jobs will be rolled out over the next three years - with 30 of the positions coming online this year.

It is looking for recruitment consultants to help airlines to find pilots and it will also be hiring aviation engineers.

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The euro hit a six-month high overnight following Emmanuel Macron’s election victory in France.

However, it has been retreating again in recent hours, the majority of traders had already adopted positions based on the presumption that he would be victorious.

Mr Macron is viewed as a 'pro-business' politician - cutting corporation tax was one of his campaign policies. He has also promised labour market reforms.

Most traders had expected his victory following his performance in the first round of voting three weeks ago.

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The online technologies of the future could provide Ireland with a €99bn opportunity after Brexit.

One of the country's leading authorities on the 'virtual reality' and 'augmented reality' sectors - says we could replace Britain as the main development hub for this type of business across Europe.

"At present, Britain is undoubtedly the main market in the EU when it comes to augmented reality and virtual reality," Dublin Institute of Technology’s Alex Gibson commented.

"However with the advent of Brexit, the massive expected investment into European AR and VR will need a new home within the EU and that creates significant opportunities for other countries – particularly Ireland.  There is now a major gap in the EU market and if we were to cultivate an R&D environment for AR and VR in this country we would be very well placed to occupy that space," he added.