THE Irish economy could be one of the worst affected by any sudden rise in global energy prices — with a new survey suggesting GDP could fall by as much as 7.5% on the back of a sudden price increase.

A sudden rise in oil and gas prices could see the economy shrink by as much as 7.5%, according to a new report from Siemens.

SIEMENS has been awarded a €40 million contract by the Dublin Airport Authority. The multimillion-euro deal will see Siemens design and build a baggage handling system for Dublin Airport’s passenger terminal T2.