UCD College of Business will spend €65m over the next five years in a bid to lift itself into the ranks of the top 50 business schools worldwide. The money will be funded from non-exchequer sources including reinvested surpluses, income from some of the college's overseas operations in Singapore, Hong Kong and Sri Lanka as well as sponsorships and gifts. The college has consistently featured in top 100 lists such as those published by the FT and the Economist. Its ambition is to secure top 50 status within five years. The money will be spent on new facilities, scholarships and expanded course offerings including a new MsC in Business Analytics focusing on digital business and disruptive innovation.
Dean of the UCD College of Business Professor Ciarán O'hÓgartaigh said that today's strategy launch represents a step change for UCD College of Business. The Professor said that UCD wants the best faculty, the best student experience and the best students. He said the university's rankings are very important as they are closely watched - especially by international students.
He said the investment of over €65m in faculty and facilities over the next five years will enable UCD College of Business to deliver on its intent to be among the very elite of business schools in the world. Our students compete with the best in the world - and so must we, he added. More investment in the right place can make a difference, he stated.
The €65m will be fully funded from non-exchequer sources through a mix of operating surplus, income from overseas operations, sponsorships and gifts.
MORNING BRIEFS - Retail Ireland director Thomas Burke will warn attendees at the lobby group's annual conference that the recovery in the sector is threatened by weak sterling and the risk of a surge in cross border shopping during the key pre-Christmas period. Despite intense retail competition and falling prices Brexit has unnerved consumers and currency pressures risk sending shoppers north of the border and online, he will say according to a statement released by Retail Ireland in advance of the conference.
*** Dublin Airport Authority has seen traffic going very much the other direction over the past year. 1.2 million residents of Northern Ireland used Dublin Airport during 2015, a 37% increase on the previous year's total and a new record according to figures just published by the DAA.
*** A&L Goodbody is ranked 35th on the Financial Times' list of Europe's 50 most innovative lawyers. It is the only firm here to make the 50 strong list but it may soon face stiffer competition. The FT notes a host of big name British firms including Freshfields, Hogan Lovells, Slaughter and May and Allen & Overy are in the process of registering solicitors here so that they can continue to practice EU law post Brexit.
*** Limerick technology firm Arralis, which develops radar and communications systems for commercial use, won the innovation of the year award at the annual Irish Times Innovation Awards. The company's technology has applications in unmanned landings by spacecraft, drone guidance systems and as a navigational aid for driverless cars.