Strong support is needed for our domestic base through what looks set to be tricky times — a challenge that could be as great as that of 2011, writes Kyran Fitzgerald.

Irish living standards and prosperity face “a serious and imminent threat” if Ireland fails to rein in costs, the National Competitiveness Council warns.

This is the business year in review from July to December.

In the harsh world of international business, the pressure to perform is unrelenting.

The country’s competitiveness watchdog has warned that Ireland’s economic recovery and the Government’s commitment to reaching full employment are under “serious and imminent threat” amid an increasingly uncertain global outlook.

The Institute for Management Development’s (IMD’s) World Competitiveness Yearbook 2016, released last week, showed that Ireland had moved briskly up the international competitiveness ranking to seventh position globally; the most competitive country in the eurozone, and third most competitive across the EU as a whole.

Ongoing increases in domestic costs — such as wages, utility prices, property and business services — pose a large threat to the country’s sustainable recovery, the National Competitiveness Council (NCC) has warned.

The chair of the new Climate Change Advisory Council has said the group won’t hold back on criticising the Government for failings in tackling carbon emissions.

Today, Kehlan Kirwan looks back on a good week for Ireland, with a number of job announcements and positive growth figures suggesting the economy is powering up. Kehlan argues, however, that all is not what it seems.

The Government’s competitiveness watchdog yesterday warned the bedrock of the country’s recent economic revival was under threat, on the same day Ireland’s mantle as Europe’s fastest growing economy was further cemented by "spectacular" growth figures.

The competitiveness underpinning Ireland’s economic growth — which has seen more people return to work — is under threat from a range of factors that need to be urgently addressed.

Peter Clinch, one-time advisor to former taoiseach, Brian Cowen, has been appointed chair of the National Competitiveness Council.

Equinome has opened a sales and marketing office in Sydney in response to rising demand for its equine genomics services.

UCD equine scientist Barbara Murphy has won the Enterprise Ireland ‘One to Watch’ Award 2012 for her therapeutic light mask for horses.

The Taoiseach Brian Cowen has defended the €1m wage bill paid to seven of his political advisors.

BRIAN COWEN and his cabinet will spend at least €10 million this year on their teams of special advisers, press officers and personal assistants, figures reveal.

The Taoiseach Brian Cowen has appointed a high profile environmental economist and an outspoken critic of decentralisation as his special policy adviser.