Opening Bell: Mortgages only for the rich, three recipients take one third of Invest NI's funding, Zuckerberg's giveaway

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

New data from Northern Ireland shows that one third of Invest NI's funds go to three recipients.

Queen's University Belfast, Ulster University and NI Screen, the body which is responsible for boosting business in the Northern Irish film industry, were offered £107m between them.

Meanwhile 2,792 firms shared the remaining £216m which was available.


Mortgage experts are warning that young couples with children are being left out of the housing market because of the Central Bank's deposit rules.

The Association of Expert Mortgage Advisers says the first time buyer market in Dublin will be dominated by the adult children of rich parents if the rules are not changed.

The Irish Independent reports that mortgage approvals were down 10% in October, compared to the same month last year.

However the Central Bank says the rules introduced earlier this year are having a positive cooling effect on the market, taking the "froth" off property prices.


Irish security firm Netwatch plans to open another office in the United States in 2016 after experiencing a profit increase of almost 50%.

The Carlow-based company provides online CCTV monitoring services which can tell intruders that they are being watched when they are spotted attempting to carry out crimes.

Netwatch will open a new office in Chicago - accounts filed by Netwatch with the Companies Office show that the firm made a gross profit of €5.6m in 2014.


Mark Zuckerberg has revealed he plans to give away 99% of his $45bn Facebook fortune as he announced the birth of his first child.

"Priscilla and I are so happy to welcome our daughter Max into this world!" Zuckerberg posted on his Facebook page on Tuesday.

The new dad then went on reveal plans to give away the vast majority of his Facebook shares, currently $45bn, during his lifetime "to join many others in improving this world for the next generation."


Australian GDP growth has beat market forecasts - growing by 2.5% year-on-year, a shade higher than the expected 2.4%.

This moved the value of the Australian dollar up - one dollar currently buys €0.69. Yields on Australia’s two-year government bonds also rose.

There had been concerns that the current slowdown in China would have a significant impact on the country's economic output.