Opening Bell: EU/US data regulations and Ireland, Dublin Port's payout, IMF gloom

Get up to speed with today's breaking Irish and international business news

European data regulators may be set to reject a new data privacy treaty between the EU and the US, according to a leaked document.

Papers from German data protection authorities suggest that the 'Privacy Shield' agreement falls short of the standards set by the European Court of Justice.

If the accord is rejected an appeal is likely to be launched.

The Irish Independent reports that failure to secure a deal could affect the operations of US multinationals in Ireland.


The Dublin Port Company has paid a dividend of close to €11m to the State as profits surged during 2015.

The total imports and exports travelling through the port increased by 6.8% to 8.4 million tonnes during the first quarter of 2016.

2015 was a record year for the port as it managed the transport of 32.8 million tonnes.

Dublin Port is now busier than it was at the hight of the Celtic Tiger, with an average of 20 ships a day arriving in the port.


The International Monetary Fund is expected to cut its global growth forecast later today.

Its managing director, Christine Lagarde has made a number of comments in recent weeks expressing fears about the health of the global economy.

“The recovery remains too slow, too fragile, and risks to its durability are increasing,” she said in a recent speech.

The IMF's update is expected to raise specific concerns about risks associated with a slowdown in key emerging economies, China's downturn, and slumping commodity prices.


Passenger representatives say it's time for SIPTU to be realistic in the Luas pay row.

Rail Users Ireland (RUI) say the people who travel on the capital's tram service have been completely forgotten about in the in the midst of the dispute.

An all out strike now appears to be on the cards after Transdev and SIPTU failed to break the deadlock at last-ditch talks yesterday.

Mark Gleeson of the RUI says at a time when construction on a Luas expansion is underway - the situation is becoming more stark: