Details will be announced today of a bank being set up specifically to lend to small businesses.

The Strategic Banking Corporation of Ireland will be launched as new figures show a further improvement in Ireland's global competitiveness.

This country is 15th in the world, according to the annual IMD World Competitiveness rankings, that's up from 17th last year and 24th in 2011.

Our Business Editor Ian Guider says it takes a wide range of factors into account:

Jobs Minister Richard Bruton has welcomed the announcement.