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Rise in number of termination notices received by RTB

The number of termination notices received by the Residential Tenancies Board in the first half of the year rose by 58%, compared with the latter half of 2021. ...

Wind electricity generation helps moderate wholesale price – report

There was a €40 difference in the cost of wholesale electricity here in July between the days on which most energy was generated from wind and those with ...

Consumers spending more as essentials inflate – Revolut

Spending on groceries, restaurants and fuel is increasing month-on-month, according to banking app Revolut, as consumers prioritise while inflation surges. In contrast, spending on clothes shopping, and leisure ...

Three grain ships leave Ukraine, one bound for Ireland

Three ships loaded with grain, one of which is bound for Ireland, have left Ukrainian ports under a recently concluded safe passage deal, the Turkish defenсe ministry said. ...

Oil prices climb on supply shortage concerns

Oil prices rose today, bouncing off their lowest levels since February in the previous session, as supply shortage concerns were enough to cancel out fears of slackening fuel ...

Lidl Ireland removes mandatory retirement age of 65

Lidl Ireland has removed its mandatory retirement age clause for current and new employees from today. This means the company will give all employees the option to continue ...

Growth in services sector picks up amid uplift in new work

Growth in the country’s services sector picked up in July, amid a sharp uplift in new work. The AIB Services PMI rose to 56.3 last month, from 55.6 ...

Euro zone consumers brace for recession and high inflation – ECB survey

Consumers in the euro zone are bracing for the economy to shrink and for high inflation to continue eating into their income in the next year, a European ...

UN chief slams ‘excessive’ profits of oil, gas firms amid Ukraine war

UN Secretary-General Antonio Guterres has called for taxation on windfall profits of oil and gas companies to ease the impact of the global energy crisis on the most ...

OPEC+ might have to raise oil output so market doesn’t overheat, Kazakhstan says

OPEC+ might have to raise oil production to avoid market overheating, OPEC+ member Kazakhstan said, as the group of oil producers meets amid US pressure to add barrels ...

€419m half year underlying pre-tax profit reported by Bank of Ireland

Bank of Ireland has reported an underlying profit before tax of €419 million for the first six months of 2022. It was down on the €465 million reported ...

New minimum pay rate for security workers

A new minimum pay rate of €12.50 per hour is to be introduced for workers in the security industry. The new pay scale is scheduled to come into ...

Rising inflation continues to hit manufacturing sector

Rising inflation is continuing to hit Ireland’s manufacturing sector, according to a new survey. The AIB manufacturing Purchasing Managers’ index shows that output dropped for the second month ...

Shoppers overspending by chasing supermarket discounts, research suggests

Half of Irish shoppers are overspending, shopping more frequently or buying what they don’t need – just to qualify for supermarket money-off vouchers. That’s according to a new ...

Australia’s central bank raises rates again

Australia’s central bank has today raised interest rates for a fourth month in a row, but tempered guidance on further hikes as it forecast faster inflation but also ...

PIAB reports €118m drop in value of personal injuries awards in last two years

There were also major cuts in overall claims costs as a result of a reduction of 18% in the number of personal injuries claims made to PIAB last ...

Changes to work permits system planned

The Government is to make changes to the employment permits system amid growing demand for workers from outside the European Economic Area. A new law will be published ...

Bord Gáis Energy reports 74% rise in operating profits in first six months of 2022

Bord Gáis Energy saw its adjusted operating profits rise by 74% in the first half of the year, as its parent company Centrica also reported a massive jump ...

Residential building activity picks up by close to a fifth in first half – GeoDirectory

The construction of residential buildings picked up quite substantially in the first half of the year, according to GeoDirectory in its latest Residential Buildings Report. 22,390 residential buildings ...

No levy due on construction sector over defective apartments – Report

A report on defective apartments built during the boom years will not recommend a levy on the construction sector to help the State meet the bill for repairs. ...

Slowdown may already be under way in domestic economy – Ibec

A slowdown may already be under way in certain sectors of the domestic economy, according to Ibec. In its latest economic quarterly outlook, the business group says shifts ...

EU to seek cuts in heating, cooling of buildings to save gas

The European Commission is expected next week to ask EU countries to reduce heating and cooling of public buildings and offices to cut demand for gas. This is ...

Cost of data breaches hits record high

The global average cost of a data breach has hit a record high of $4.35 million, an increase of almost 13% over the last two years. The annual ...

IMF cuts global growth forecasts, warns high inflation threatens recession

The International Monetary Fund cut global growth forecasts again today, warning that downside risks from high inflation and the Ukraine war were materialising and could push the world ...

Switching activity drives mortgage approvals in June – BPFI

The latest figures from the Banking & Payments Federation on the mortgage market point to a substantial increase in mortgage switching activity in recent months. The volume of ...

House hunters have less spending power than a year ago – daftmortgages

House hunters have €27,000 less spending power than a year ago, according to daftmortgages.ie. The website analysed the buying plans of over 170,000 people preparing for a mortgage ...

Dublin Port volumes recover strongly in the first half of 2022 with growth up 10%

Dublin Port volumes recovered strongly in the first half of 2022 with growth of 10.1% to 18.6 million tonnes. In trading figures out today, it said container and ...

New digital training scheme launched for SMEs

Google, Enterprise Ireland and the Local Enterprise Offices have partnered to launch a new digital training scheme for SMEs. The ‘You’re the Business’ scheme provides online training and ...

Plans to extend DART to Maynooth and M3 Parkway

Iarnród Éireann will lodge plans this week for the extension of the electrified DART network from the Connolly/Spencer Dock area to west of Maynooth and on to the ...

Plan on reduction of greenhouse gas emissions delayed

A plan to apply stringent greenhouse gas emission reduction targets on different parts of the economy will not go to Cabinet next week, as had been planned. Instead, ...

National Lottery ticket sales exceeded €1bn last year

National Lottery ticket sales exceeded €1 billion last year, up 14.7% on the previous year, according to operator Premier Lotteries Ireland full year results for 2021. For the ...

Euro gets boost after ECB supersizes rate hike

The euro advanced against the dollar after Russia resumed gas supplies to Europe and the European Central Bank surprised markets with a 0.5 percentage-point rate hike. The advance ...

HBFI reports busiest 6 month period for loan approvals

The state agency established to help fund the delivery of new homes grew loan approvals to €1.16bn at the end of June 2022. That was an increase of ...

€5m in funding for new construction technology centre

The Government has announced funding of €5 million over five years for a new construction technology centre, which will accelerate research and innovation within the construction sector. The ...

Consumer sentiment hits 21-month low in July

Consumer sentiment has dropped to a 21-month low this month on broad based concerns about the economy. In particular the KBC Bank Ireland consumer sentiment index found consumers ...

Used car asking prices now 64% above pre-pandemic levels

Asking prices for used cars rose 29% in the year to the end of June, new research from DoneDeal has found. According to the listings website, prices being ...

Upskilling programme launched for bank staff

A new upskilling programme has been launched to help financial services employees who will be impacted in the coming months by redundancies in the banking sector. As Ulster ...

Recruitment squeeze felt by 63% of construction firms here

Nearly two thirds of construction companies here are finding it difficult to recruit skilled workers, according to a survey of over 300 firms here conducted by Core Research ...

57% of women in Ireland feel obligated to work while sick compared to 34% of men

A new survey reveals that 57% of women in Ireland feel obligated to work while sick when working remotely, compared with just 34% of men. The survey, from ...

ECB to discuss rate rise of 25 or 50 points on Thursday

European Central Bank policymakers will discuss whether to raise interest rates by 25 or 50 points at their meeting on Thursday to tame record-high inflation, two sources with ...

Mullingar film studio gets county council approval

A new film studio in the midlands, which has been hailed as “transformative” for the region, has been given planning approval. Westmeath County Council has granted planning permission ...

€9.3m in funding announced for online retail

Over 210 retailers are to receive €9.3m in grants through the latest round of a Government scheme designed to help businesses boost their online presence. The Online Retail ...

Oil prices extend gains on weak dollar and tight supply

Oil prices have extended gains, propped up by a weaker dollar and tight supplies that offset concerns about recession and the prospect of widespread COVID-19 lockdowns in China ...

Business confidence plummets on inflationary pressures

Business confidence here has dropped sharply to its lowest level since October of 2020 as a result of concerns about the impact of strong inflationary pressures on demand, ...

Hiring rate in first five months 27% higher than 2019

Hiring rates in the first five months of this year were on average 27% higher than the same period in 2019, despite the economic pressures being faced by ...

200 new R&D jobs for Medtronic in Galway

Medtronic is further expanding its presence in Galway with a $30m investment that will see it grow its workforce in the city by 200. The healthcare technology company ...

FinTrU to create 300 new jobs in Donegal

Three hundred new jobs are to be created by regulatory solutions company FinTrU in Letterkenny, Co Donegal. The company is to set up a European Delivery Centre in ...

Diageo to build new €200m brewery in Kildare

Drinks company Diageo, which owns Guinness, is to build a new €200m brewery near Newbridge in Co Kildare. The carbon neutral facility will be used to produce lagers ...

Euro clings to parity as markets await U.S. inflation data

The euro hovered a whisker above parity to the dollar today, with traders wary of the single currency being forced to levels unseen for decades if US inflation ...

Taoiseach says cost-of-living crisis could last into next spring

The Taoiseach has warned that the cost-of-living crisis could last into the spring of 2023. Speaking on RTÉ’s Prime Time, Micheál Martin said Russia’s approach to gas and ...

REInvest makes first Dublin buy in €65m deal for 5 Harcourt Road

Luxembourg property asset manager REInvest Asset Management has bought a property in Dublin for the first time in the company’s history. The office building, 5 Harcourt Road, was ...

Euro nears parity with dollar on growth fears

The euro sank to within a whisker of parity with the dollar today and stock markets fell as the prospect of further central bank tightening and worries about ...

Skill shortage threatens financial services talent pipeline – report

A shortage of people with a well-rounded skill set, including role-specific technical skills and in-demand soft skills, represents a threat to the health of the talent pipeline in ...

Exports by Enterprise Ireland backed companies increased by 12% to record level in 2021

Exports by companies supported by Enterprise Ireland increased by 12% to a €27.29 billion last year – the highest level of export growth ever recorded by EI supported ...

Cabinet agrees stricter controls on online platforms advertising short-term lets

The Government has approved moves to strengthen regulatory controls on the short-term letting of property. These controls will apply to non-principal private residences in rent pressure zones and ...

High prices forced first contraction in construction sector in over a year

Severe price pressures forced the Irish construction sector to contract marginally in June, the first time it has reduced in size since April of last year when the ...

Banks not trusted by farmers – Irish Banking Culture Board report

There is an “absence of trust” amongst farmers in banks, according to the latest report from the Irish Banking Culture Board. The farming community was surveyed as a ...

The Summer Economic Statement: What you need to know

What’s the Summer Economic Statement? It is a document that sets out the parameters of the forthcoming Budget. That means, in broad terms, how much ‘new’ money will ...

Job vacancies stabilise as caution enters the market

New data from hiring platform IrishJobs.ie shows a continued stabilisation in the number of job vacancies across the country. While the Index reveals 15% year-on-year growth in the ...

New authority to crack down on corporate wrongdoing

The Office of the Director of Corporate Enforcement (ODCE) has now become a statutory and independent agency called the Corporate Enforcement Authority, with additional resources to investigate and ...

Inflation could peak at over 10% in coming months, Central Bank warns

The Central Bank has warned that inflation could peak in the coming months at over 10% but should start to decline after that. In its latest Quarterly Bulletin, ...

Euro zone business growth slowed sharply in June – PMI

Business growth across the euro zone slowed further last month, according to a survey in which forward looking indicators suggested the region could slip into decline this quarter ...

Euro falling towards parity pain point

A stampede for dollars as global recession risks mount has left other currencies battered and bruised, with the euro getting trampled on more than most as surging European ...

Rising costs of living hitting back-to-school expenses

Cost of living increases are impacting parents budgeting for back-to-school expenses, according to a new survey for the Irish League of Credit Unions. Back-to-school expenses are leaving more ...

Euro hits 20-year low against dollar on recession risk

The euro sank today to its lowest level against the dollar since 2002 as data pointed to a growing recession risk in the euro zone. The euro also ...

30% tax rate idea still being examined – Varadkar

A new 30% tax rate for middle-income earners has not been ruled out, according to Tánaiste Leo Varadkar. Last March, the Fine Gael leader said he had asked ...

Over 220,000 new current accounts opened as banks exit market

The main retail banks have opened 222,000 personal current accounts so far this year, as customers of Ulster Bank and KBC Bank Ireland begin switching providers ahead of ...

Irish inflation estimated at 9.6% in June – Eurostat

Inflation across the euro area rose to 8.6% in June, according to an initial estimate by the EU’s statistical agency Eurostat. Its estimate for inflation in Ireland was ...

New low cost Covid-19 loan scheme for businesses

The Government has launched a further low cost Covid-19 loan scheme for businesses. The finance will be available to small and medium businesses (SMEs) including farmers, fishers and ...

€6.7bn Budget package expected as Summer Economic Statement due

The Government is to publish its Summer Economic Statement later today, which will set out the parameters of the Budget. Last year’s Summer Economic Statement published the parameters ...

Cost-of-living crisis could last ‘years’, says Tánaiste

Tánaiste Leo Varadkar has told the Dáil that the cost-of-living crisis could last for years. Speaking during Leaders’ Questions, Mr Varadkar said that the issue was something people ...

Solar panels could power ‘quarter of Irish households’

Climate scientists at University College Cork have concluded that a quarter of all the electricity needed by Irish households could be produced by putting solar panels on domestic ...

New EU roaming rules come into force

New EU roaming rules for mobile phone users have come into effect after the previous EU Roaming regulation of 2017 ended yesterday. The “Roam-like-at-home” initiative has been extended ...

‘Prolonged period of high inflation’ possible – McGrath

The country may be facing in to a “prolonged period of inflation” according to Minister for Public Expenditure and Reform Michael McGrath, who said measures to help with ...

Vodafone Ireland to upgrade its 3G network

nced that it is to begin a phased programme to upgrade its entire 3G service from late 2022. The company said its existing 3G network will be upgraded ...

241 new jobs in eight IDA Ireland high growth companies

IDA Ireland have announced the creation of 241 jobs in Dublin, Galway, Letterkenny and Limerick across eight high growth companies from Europe and the US. The new jobs ...

Govt to make changes to rules for tips and service charges

The Government is expected to make changes to new tipping legislation, which will effectively ban so-called ‘service charges’ on bills unless the money goes straight to staff. The ...

Dalata says hotel recovery continues to beat expectations

Dalata Hotel Group said today that the faster than anticipated recovery in hotel markets over the last four months has continued to surpass its expectations. In a trading ...

Changes to Community Employment schemes to boost recruitment

The Government has announced a number of changes to Community Employment schemes in a bid to boost the recruitment and retention of applicants. The schemes are designed to ...

Three to create 175 jobs in Limerick

The Three telecommunications and data company is to expand its customer contact centre in Limerick, taking on an additional 175 employees there over the next four years. The ...

New voucher scheme for remote working goes live

A new voucher scheme that will give remote workers free access to local digital hubs has begun operating. The initiative was announced by the Government earlier this month. ...

Mortgage switching activity hits record high ahead of rate hikes

Mortgage switching volumes and values more than doubled in May compared to the same month last year, according to new figures from Banking and Payments Federation Ireland. Over ...

Some Aer Lingus flight cancellations due to air traffic control strikes, Covid

Aer Lingus had to cancel 13 flights yesterday and another three today due to air traffic control strikes in France, Italy and Spain as well as an outbreak ...

Home prices up 3.8% in Q2 but stock levels rising – Daft.ie

Average home prices rose by 3.8% in the second quarter of this year, the largest three-month gain in nearly two years, while the stock of homes increased slightly, ...

One third of households ‘just making ends meet’

Consumer sentiment dropped in June, while the mood among businesses was mixed, according to the latest Economic Pulse report from Bank of Ireland. As cost of living pressures ...

Expleo Ireland announces 200 new jobs for Cork

Expleo, a global technology, engineering and consulting service provider, has announced 200 new jobs and the opening of its first regional hub in Mahon in Co Cork. The ...

AIB’s share trading plan extended up to January

Minister for Finance Paschal Donohoe said today he was extending AIB Group’s share trading plan, which was first announced in December. Since then the Government’s stake in AIB ...

Asking prices for homes up almost 11%, growth rate slows – MyHome.ie

Cost-of-living concerns and rising interest rates will slow the demand for houses in the second half of the year, according to the latest house price report from MyHome.ie. ...

Toast to create 100 jobs as it opens new Dublin office

US restaurant management platform Toast said it plans to create 100 jobs this year as it opens its new office on St Stephen’s Green in Dublin. Toast said ...

More Irish companies sign low carbon pledge

70 of Ireland’s biggest companies have now committed to setting carbon-reduction targets based on climate science, by signing a low-carbon pledge overseen by Business in the Community Ireland ...

AIB set for record tracker mortgage fine from Central Bank

The Central Bank is set to hit AIB with a record fine later today for its role in the tracker mortgage issue. The banking group, which includes EBS, ...

Ireland and Denmark most expensive countries in EU – Eurostat

Ireland and Denmark had the highest price levels for consumer goods and services across the EU in 2021, according to Eurostat. The EU’s statistics agency published data today ...

AIB’s €400m non-performing loan sale cuts NPE ratio to 4.4%

AIB has sold a non-performing loan portfolio in long-term default to Everyday Finance, part of a consortium that includes Everyday, affiliates of Cerberus Capital Management and LCM Partners ...

Lidl launches new EV and HVO vehicles into Irish fleet

Lidl has today started the rollout of its first electrical truck and hydrogenated vegetable oil (HVO) heavy goods vehicle (HGV) into its logistics fleet. The pilot scheme will ...

Kingspan seeing ‘significant’ dip in May and June orders

Building insulation specialist Kingspan said today it had seen the mood in most end markets deteriorate over the last two months with order intake volume down significantly year-on-year ...

Primark to trial click & collect service in UK

Budget fashion chain Primark will trial a Click & Collect service on children’s products in the UK but said the move should not be seen as a precursor ...

New €85m digital transition fund for businesses

The Government has announced a new €85 million digital transition fund that will provide grant aid for businesses. The funding is designed to help companies develop new digital ...

HCS invests €3.2m to double its workforce and revenues

IT, security and telecoms company HCS is investing €3.2m to double the size of its workforce and business revenues within the next three years. HCS has started its ...

Why experts see storm clouds over the economy

The beginning of the pandemic in 2020 brought with it an end to years of bullish economic growth. As Ireland headed into the general election, the economy was ...

Tesco sees early signs of changing customer behaviour as inflation hits

Tesco said today it was seeing early indications of changing customer behaviour due to surging inflationary pressures that had made the market environment “incredibly challenging”. Chief executive Ken ...

Government funding of €55m to help businesses move away from fossil fuels

The Government is to make €55m available to businesses to help them move away from the use of fossil fuels. The new Green Transition Fund, to be launched ...

ISIF to invest €500m in five regional cities

The Ireland Strategic Investment Fund, known as ISIF, has announced plans to step up its regional investments. The fund, which is part of the National Treasury Management Agency, ...

Increased risk of more ‘medium-term’ inflation, Central Bank warns

The Central Bank has warned that broad based price pressures have increased the risk of more medium-term inflation. The regulator also said that these inflationary pressures present new ...

Irish tourism sector sees ‘unprecedented’ level of inflation

New research from the Irish Tourism Industry Confederation shows that inflation in May in the tourism industry was seven times higher that the same time in 2019, which ...

Musgrave invests €25m in Centra and SuperValu stores as part of sustainability strategy

Musgrave is investing €25 million in SuperValu and Centra stores as part of a new sustainability fund aimed at helping retailers to achieve net zero carbon by 2040. ...

Ireland ranked third-most competitive euro area country

Ireland has been ranked as the third most competitive country in the euro area by the latest IMD World Competitiveness Rankings. It has also been placed as the ...

Public sector pay talks to resume at WRC

Formal public sector pay talks between the Government and unions will resume at the Workplace Relations Commission. The negotiations opened yesterday and were adjourned after around four hours. ...

Taoiseach says UK protocol plans are ‘anti-business and anti-industry’

The Taoiseach has described the legislation on the Northern Ireland Protocol published by the British government yesterday, as “anti-business and anti-industry”. Speaking on his way into Cabinet this ...

Ryanair CEO says summer fares will be up 7-9% on 2019 levels

Ryanair Group chief executive Michael O’Leary said today that bookings at Europe’s biggest budget airline are strengthening and he expects summer fares to be between 7% and 9% ...

Major blaze hits Smurfit Kappa packaging plant in UK

Smurfit Kappa has resumed some operations at a packaging plant in the UK after a large fire ripped through the facility overnight, the local fire service said. West ...

Euro zone to avoid recession, growth to accelerate in Q3 – ECB survey

The euro zone will avoid a recession this year and growth will accelerate noticeably after bottoming out in the second quarter, a key European Central Bank survey shows. ...

Growth in construction sector slowed again in May

Activity in the construction sector continued to increase in May but at its slowest pace in more than a year, according to the latest Construction Purchasing Managers’ Index ...

Cheque payments hit new quarterly low in Q1 at 4.5 million – BPFI

Around 4.5 million cheque payments were made in the first quarter of 2022, according to the latest Payments Monitor from Banking & Payments Federation Ireland. While the figures ...

Oil prices slip, but still close to three month highs

Oil prices slipped today but remained within touching distance of three-month highs as fears over new Covid-19 lockdown measures in Shanghai outweighed solid demand for fuels in the ...

Govt not considering price caps as inflation rises to 7.8%

The Minister for Finance has said he is not considering the introduction of price caps to deal with soaring inflation. Paschal Donohoe was speaking after the Central Statistics ...

Price shock: Why car prices are being driven higher

The cost of everyday items is continuing to rise, with a recent estimate from the Central Statistics Office suggesting consumer prices were 8.2% in the year to the ...

Around 25% of eir customers to be hit by price hikes

Telecoms company eir has said around 25% of its customers will be impacted by price hikes from August. The changes in fees will impact households and small to ...

European shares fall ahead of ECB decision

European shares slipped today ahead of the European Central Bank’s meeting later in the day, with investors awaiting clues on the central bank’s policy tightening plans. The ECB ...

Remote workers to get free access to local digital hubs

The Government is announcing a series of new initiatives to support remote working. A voucher scheme will give remote workers free access to local digital hubs and provide ...

‘I don’t know who can afford €4,500 for childcare’

Cliona, a mother of three, was recently quoted €4,500 a month for childcare. She simply cannot afford it. “I don’t know who can afford €4,500 a month and ...

Fuels for Ireland urges new approach to tax on fuel

The fuels industry has said that the Government needs to look at the overall approach to taxation on fuel because the argument that increasing fuel taxes results in ...

Ireland among countries in four-day working week trial

Ireland is among a number of countries taking part in a worldwide initiative trialling a four-day week with no loss of pay. More than 3,000 workers at 70 ...

Coffee cup levy ‘sends wrong message’ – retail group

A proposed 20 cent levy on single-use coffee cups “sends the wrong message on sustainability” and the Government needs to rethink its strategy, according to a body representing ...

Building input price rises could negate easing in property price growth – BPFI

An increase in the supply of housing may be contributing to an easing in the pace of growth in property prices, an analysis from the Banking and Payments ...

Services growth slows for second month in a row – PMI

More than a year of rapid growth in Ireland’s services sector moderated slightly for the second successive month in May as selling prices and input costs remained close ...

Donohoe: Ireland, US, EU at co-operation ‘high point’ on tax

Minster for Finance Paschal Donohoe has said Ireland, the US and the EU are at a “high point” of economic co-operation, particularly over the issue of corporation tax. ...

Inflation hitting lower income households harder – CSO

New research from the Central Statistics Office shows that in March households with the lowest incomes experienced higher inflation, up to 7.6% compared to the average rate of ...

No disruption expected to gas supply forecast for summer months

Despite the ongoing war in Ukraine, it is expected that restrictions on the importation of Russian gas to the EU will not significantly impact on gas supply to ...

Construction output falls by 2.4% in Quarter 1

The volume of construction production dropped by 2.4% in the first three months of the year, compared to the final quarter of last year, new data from the ...

Unemployment rate returns to pre-Covid level of 4.7% – CSO

The country’s unemployment rate fell to 4.7% in May from 4.8% in April to return to the level it stood at before the Covid-19 pandemic hit, new figures ...

Ornua operating profit up 1.3% to €153.7m for 2021

The country’s largest exporter of Irish dairy products, Ornua, has reported operating profit of €153.7m for 2021, up 1.3%. The dairy co-operative marked 60 years in business and ...

Bank of Ireland completes purchase of Davy

Bank of Ireland said today it has completed its €427m deal for J&E Davy Stockbrokers, which was first announced last July. Bank of Ireland said the deal significantly ...

Factory production growth falls to 15 month low in May

Factory production growth dropped to 15-month low in May, as higher prices reportedly dampened client demand. The latest AIB IHS Markit manufacturing Purchasing Managers’ Index (PMI) slipped to ...

Dublin 4th most attractive European city for FDI – EY report

Dublin is the fourth most attractive European city to foreign investors, according to a new report from EY. The city was chosen by 17% of respondents in the ...

Employment Wage Subsidy Scheme for all businesses comes to an end

The Employment Wage Subsidy Scheme (EWSS) ends today for all businesses. In February, most employers moved to a reduced weekly rate of support before the payments were phased ...

Mortgage approvals drop, switching activity rises

Just over 4,300 mortgages were approved last month, down 5.9% on the previous month and 1.3% on the same time last year. New figures from Banking and Payments ...

Consumer sentiment rallies in May, but business sentiment unchanged

A new monthly economic survey shows that while households remain cautious, the arrival of the holiday season looks to have raised their spirits a little. But the mood ...

30% would take lower-paid job to guarantee remote work – survey

Almost one third of workers would change jobs – even if it means a pay cut – if their remote working preferences are not facilitated, according to the ...

Central Bank’s profits boosted by record level of fines

A record amount in monetary fines imposed on financial firms and individuals by the Central Bank in 2021 contributed to profits at the bank last year increasing by ...

Asda sales fall 9.2% in first quarter

British supermarket group Asda has reported a near double-digit fall in first quarter sales, which it said reflected comparison with exceptionally strong trading in the same quarter last ...

Dell beats estimates for quarterly results on strong enterprise demand

Dell Technologies has beaten Wall Street estimates for quarterly profit and revenue, as enterprises invested heavily in the company’s desktops and laptops to support hybrid work. Dell’s shares ...

62% cutting back on food spending as prices rise – PTSB research

New research has found that 62% of people feel they will have to cut back on food spending over the coming year in response to sharp price rises, ...

Supermetrics to create 100 jobs and open new Dublin office

Marketing data software company, Supermetrics, is to create 100 new jobs in Dublin. The roles will be filled over the next two years. The Helsinki based firm is ...

E-commerce platform eDesk to create 150 jobs

E-commerce platform eDesk is to create 150 jobs over the next 18 months. The new positions will be at the company’s Dublin HQ, Derry, Skibbereen, and the east ...

Holidays a priority despite rising cost of living – KBC sentiment index

Irish consumers plan to spend more on holidays this year despite concerns about the rising cost of living, according to the latest KBC Bank Ireland consumer sentiment index. ...

FSU says staff ‘at breaking point’ over exits of Ulster Bank, KBC

The Financial Services Union, which represents bank workers, has said its members are at breaking point dealing with the increased workload caused by the exits of Ulster Bank ...

307 PayPal jobs under threat in Dublin and Dundalk

307 jobs are under threat at online payment firm PayPal’s offices in Dublin and Dundalk in Co Louth. The company is opening a consultation with impacted staff who ...

Car hire costs undermine Irish good value reputation, says Fáilte Ireland

An organisation which supports and promotes tourism in Ireland has said rising car rental prices are undermining Ireland’s reputation as a good value for money destination. Fáilte Ireland ...

Greencore reports return to profits, higher H1 revenues

Convenience food group Greencore has reported a return to profitability and higher revenues for the first half of its fiscal year. Greencore said its profit before taxation increased ...

Leitrim-based Cora Systems to create 300 jobs

Irish software company, Cora Systems, is to create more than 300 jobs, half of which will be in Ireland. The positions will be in a range of specialties ...

CCPC clears Bank of Ireland-KBC deal but imposes conditions

The Competition and Consumer Protection Commission has cleared, subject to a number of legally binding conditions, the proposed €5 billion acquisition by Bank of Ireland of KBC Bank ...

Wholesale prices rise by 5.2% in April – CSO

Wholesale prices for goods used in manufacturing and construction rose at an annual rate of 5.2% in April, according to the Central Statistics Office. This was up from ...

Irish firms suffering with renewed supply chain problems

Irish businesses are once again having to restructure their supply chains, amid renewed disruption caused by the resurgence of Covid-19 in China, the Ukraine war and soaring fuel ...

Start-up activity drops 12% amid rising costs

5,600 new companies were registered in Ireland in the first three months of the year, down 12% on the same time last year. New data from CRIF Vision-net ...

Hauliers given more time to apply for fuel cost support

Hauliers are to be given more time to apply for an emergency support scheme put in place by the Government to assist them with the soaring cost of ...

Taoiseach in Belfast to meet political and business leaders

The Taoiseach is in Belfast today to meet politicians and business leaders as efforts continue to break the Stormont impasse over the Northern Ireland Protocol. Micheál Martin will ...

SME optimism drops amid Ukraine war and inflation

Irish SMEs are feeling less optimistic about the future, according to a new report by peer-to-peer lender Linked Finance. Its latest SME Confidence Index for the first quarter ...

Fórsa says improving pay ‘must be our priority’

The General Secretary of Fórsa, the country’s largest public sector trade union, has said that improving pay must be his union’s priority. In an address to delegates at ...

Amid hiring surge, 79% of businesses struggling to fill vacancies

A new report has revealed record levels of hiring by Irish businesses but also shows that many are struggling to fill vacancies. According to the latest ManpowerGroup Employment ...

Aer Lingus owner IAG orders 50 new Boeing planes

Aer Lingus and British Airways owner IAG is to order 50 Boeing 737 MAX jets for delivery between 2023 and 2027, in a vote of confidence in the ...

UK inflation hits 9%, highest since modern records started

British inflation leapt last month to its highest annual rate since 1982, piling pressure on finance minister Rishi Sunak to step up help for households facing a worsening ...

Fáilte Ireland launches drive to tackle staff shortages in tourism sector

A national campaign to address staff shortages in the tourism and hospitality sectors is being launched today by Fáilte Ireland. The €700,000 marketing drive will run across national ...

Gas generated over half of Ireland’s electricity in April

Gas reliably generated more than half the country’s electricity in April as the contribution from wind generation dropped to about one third, new figures show today. The figures ...

C&C’s annual revenues fizz 88% higher

Drinks group C&C has reported a near 88% increase in revenues for the year to the end of February and said its new fiscal year had started strongly ...

Bank CEOs to meet Central Bank on account transfers

The chief executives of the main banks here are to meet representatives of the Central Bank today to discuss plans for the departure of Ulster Bank and KBC ...

Cost inflation top threat to growth in food sector

Rising input costs and inflationary pressures have been identified as the top threat to business growth in the food sector here. In a survey of 70 small and ...

Banking research reveals huge dependency on main retail banks, as review event takes place

Just 1% of people here have their main current account with a digital bank, a survey of consumers carried out on behalf of the Department of Finance has ...

New construction orders fall as cost increases bite

New orders in the construction sector fell last month, as a result of near-record cost increases, the latest construction purchasing managers index for Ireland from BNP Paribas Real ...

Ryanair cautious about ‘fragile’ recovery after smaller annual loss

Ryanair has today posted a €355m loss for the pandemic-hit 12 months to the end of March. The airline said it was impossible to accurately forecast anything beyond ...

Irish household wealth hits record €198,498 per person

Irish household net worth soared to a record high in the final three months of last year, despite the various economic pressures, new data from the Central Bank ...

Inflation at its highest rate in 22 years

The annual rate of inflation rose to 7% in April, according to figures published by the Central Statistics Office – its highest rate in 22 years. The CSO ...

Just how ‘early’ will the ECB start increasing interest rates?

“Early.” This five letter word caused a slight ripple this week for those who read the tea leaves on the utterances of central bankers. Christine Lagarde, President of ...

Market rents rise as supply hits new low – daft.ie

Market rents in the first three months of the year were almost 12% higher than they were in the same period last year, according to the latest report ...

Cairn Homes expects build cost inflation of 6% for 2022

Cairn Homes said it expects total build cost inflation – including infrastructure, materials and labour – of about 6% for this year but reiterated its full year guidance. ...

FBD’s car insurance premiums down 9% this year

FBD Holdings said today that its average motor insurance premium is 9% lower than the same time in 2021 and the company is seeing strong retention of existing ...

Lakeland Dairies CEO Michael Hanley to retire in December

The Chief Executive of Lakeland Dairies, Michael Hanley has announced his decision to retire at the end of this year. He has held the position for 16 years ...

Sharp rise in revenue reported by ferries group ICG

Shipping operator Irish Continental Group has reported an increase in revenue for the first four months of the year. In a trading statement, the group provides comparisons to ...

Lagarde suggests ECB rate hike could come as soon as July

European Central Bank president Christine Lagarde has hinted the Frankfurt-based institution could raise its interest rates from historic lows as soon as July as inflation in the eurozone ...

British govt to prioritise further talks on Northern Ireland Protocol

The British government is not expected to announce any moves to unilaterally scrap the Northern Ireland Protocol. There had been reports in the British media that the Queen’s ...

Writech announces 50 jobs in Mullingar

Fire protection company Writech has announced the creation of 50 jobs with the launch of a new design and innovation centre in Mullingar, Co Westmeath. The company has ...

Govt set to agree to extend lower VAT rate for hospitality

The Government is set to agree to extend the lower VAT rate for the hospitality sector when the Cabinet meets this morning. Minister for Finance Paschal Donohoe is ...

Air fares will rise due to higher oil prices – Aer Lingus CEO

The chief executive of Aer Lingus has said it is inevitable that fares at the airline will rise as a result of rising oil prices. Lynne Embleton said ...

Public transport passenger numbers up as fares reduce

The National Transport Authority has said passenger numbers on public transport have increased as fares are being reduced as part of Government plans to help ease the cost ...

Oil slips on global economic concerns, ahead of EU vote on Russia oil ban

Oil prices slipped today, along with stock markets in Asia, sparked by fears a global recession could dampen oil demand. Investors are also eying European Union talks on ...

Irish economy to grow, inflation to fall next year – IMF

The International Monetary Fund has said growth in the Irish economy is expected to “remain strong”. But it warned that risks are “tilted to the downside” as there ...

Aer Lingus owner expects to be profitable from Q2

Aer Lingus and British Airways-owner IAG said today it had seen a strong recovery in business travel in the first quarter and it expected to be profitable from ...

Food prices ease slightly in April after record surge – UN agency

World food prices eased slightly in April after hitting a record high in March, but global food security remained a concern because of the difficult market conditions, the ...

EU chief proposes phased ban on Russian oil

European Union countries will stop importing Russian oil and refined products by the end of the year, Ursula von der Leyen has told the European Parliament. The European ...

84% of businesses survived Covid pandemic – CSO

Around 6% of businesses that were operating in 2019, before the Covid-19 pandemic began, appeared to have closed by the end of last year, new data from the ...

Grocery price inflation hits 4.7% – Kantar

The average household is facing a €330 price increase on their annual grocery bill, according to the latest figures from consulting company Kantar. 23% of households also said ...

€1,000 for farmers to help prevent fodder shortage

Farmers are set to benefit from a new silage support scheme that is being brought to the Cabinet for approval by Minister for Agriculture Charlie McConalogue later today. ...

Community sector workers to stage protest in Dublin

Trade union members working in the community sector and for Section 39 healthcare organisations are to hold a protest in Dublin today. The demonstration is being staged to ...

Employment boost keeps manufacturing growth booming – PMI

Rapid manufacturing growth continued at a similar level in April compared to a month earlier as the strongest boost to employment in almost a year mostly offset a ...

Smurfit Kappa posts 33% profit jump in first quarter

Smurfit Kappa said its revenue and core profit both rose by 33% year on year in the first quarter, which the boxmaker attributed to significant investment to support ...

KBC Bank Ireland extends current account closure notice

KBC Bank Ireland said it has decided to extend the notice period for the closure of current accounts from 90 days to six months. The move brings it ...

AIB in talks for Ulster Bank’s tracker mortgages

AIB said it has started exclusive discussions with NatWest for the acquisition of about €6 billion of Ulster Bank’s performing tracker mortgages. The bank said that any potential ...

Glenveagh Properties on track to deliver 1,400 new homes this year

Home builder Glenveagh Properties said it is on track to deliver 1,400 suburban homes in 2022 with 80% now sold, signed, or reserved. In a trading update ahead ...

Kerry Group reaffirms full year earnings guidance

Food technology and ingredients company Kerry Group said it was seeing continued strong business growth during the first quarter of 2022 as it reaffirmed its full year earnings ...

Alphabet chief says Google will continue to invest in Ireland

Google will continue to invest in Ireland, saying changes to the international corporation tax regime make “no difference at all” to their investment plans. In an exclusive interview ...

Euro falls below $1.06 for first time in five years

The euro fell below $1.06 for the first time in five years against a broadly strong US dollar today amid rising concerns around energy safety and growth slowdown ...

Bank of Ireland reports positive start to 2022

Bank of Ireland said it has made a positive start to 2022 with its income, costs and capital all performing in line with expectations. In an interim management ...

Bank of Ireland CEO moving to Credit Suisse role

Outgoing Bank of Ireland chief executive Francesca McDonagh is to take up a new job at Swiss bank Credit Suisse. Ms McDonagh will take up the role of ...

Currency fintech aims to ‘bring hedging to everyone’

Irish foreign exchange technology firm Assure Hedge is launching a service which it describes as aiming to ‘bring hedging to everyone’. Hedging is a method – deployed by ...

Primark to raise prices due to inflationary pressures

Associated British Foods has today reported a near doubling in first-half profit but said its Primark clothing business would have to raise prices because of the severe inflationary ...

Twitter’s 500 Irish staff closely watching developments

Elon Musk’s $44 billion deal to buy Twitter has attracted massive attention around the world. Here at home, the latest developments are no doubt being watched closely by ...

Ibec downgrades growth outlook, warns of ‘misjudged’ reactions to inflation

Business group Ibec has scaled back its outlook for growth for this year to account for the economic impact of rising costs and supply chain challenges, exacerbated by ...

EU agrees on internet rulebook for Google, Facebook, other tech giants

EU member states, the European Commission, and the European Parliament have reached agreement on new rules requiring large tech companies to do more to police illegal content on ...

How businesses can take the edge off their energy bills

The dramatic increase in energy prices in recent months has brought sharp focus to the need for businesses to cut their usage – fast. The biggest changes generally ...

Tourism industry recovering but facing new inflation, Ukraine threats

New figures from the Irish Tourism Industry Confederation suggests that the sector continued to recover in March – traditionally the period that kick-starts the tourism season with the ...

Consumer confidence falls again as inflation fears spread

Consumer confidence suffered its second successive sharp monthly drop as concerns about living costs that hurt the macro economic outlook in March spread into a weakening of spending ...

15% of SMEs considering job cuts due to rising costs

15% of small and medium sized businesses in Ireland are considering laying off some staff when the Employment Wage Subsidy Scheme (EWSS) comes to an end – due ...

Oil prices rebound after sharp losses as supply concerns dominate

Oil prices rebounded this morning from sharp losses in the previous session as concerns about tighter supplies from Russia and Libya dominated, while industry data showed a drop ...

Work-life balance bill being discussed at Cabinet

Parents will receive five days of unpaid leave to look after sick children under new legislation to be signed off at Cabinet today. Minister for Children Roderic O’Gorman ...

IMF cuts global growth forecast, warns of inflation danger

The International Monetary Fund has slashed its forecast for global economic growth by nearly a full percentage point, citing Russia’s war in Ukraine, and warning that inflation was ...

Cost of supplying Irish electricity ‘wildly out of line’ with Europe

The cost of supplying electricity to Irish homes is “wildly out of line” with the rest of Europe, and the temporary VAT reduction fails to address the underlying ...

Foley to address teacher conferences amid calls over pay

Minister for Education Norma Foley will address primary school teachers in Killarney this morning in what will be her first in-person address to a teacher trade union conference. ...

High debt could slow countries’ recoveries – IMF

Debt accumulated by businesses and individuals worldwide could slow economic recoveries from the pandemic crisis, the International Monetary Fund has warned. Governments took exceptional measures to support their ...

Govt cuts economic growth forecast due to inflation

The Government has cut its forecast for growth in the economy by 2.25 percentage points to 4.25% as a result of higher inflation and the negative impact of ...

Family businesses call for creation of taskforce to tackle rising cost of business

The Family Business Network is calling on the Government to establish a dedicated taskforce to address the rising cost of doing business in Ireland. Family-owned businesses employ around ...

VAT cuts on gas and electricity from 1 May

Minister for Finance Paschal Donohoe has said that a temporary cut in VAT on fuel bills will lead to a saving of more than €50 on an annual ...

Cabinet likely to consider living wage plans by summer – Tánaiste

The Tánaiste has said he expects to bring proposals to Government before the summer recess on how Ireland can adopt a living wage. Mr Varadkar said the Irish ...

New trade strategy to safeguard jobs and win new investments

The Government’s new Trade and Investment Strategy, entitled “Values for Ireland. Values for the World”, has been published today. Seven priority actions have been set out to grow ...

Business leaders split on remote working bill

More than one-third of business leaders do not believe the Government’s proposed new Right to Request Remote Working Bill balances the rights and requirements of both employees and ...

ESRI says rent pressure zones have been successful in limiting rent inflation

A report by the Economic and Social Research Institute has found that Rent Pressure Zones (RPZs) have been successful in limiting rent inflation. However, the report says it ...

Demand for land led to price surge in 2021, survey finds

Demand for land around the country brought significant price increases in 2021, according to a survey by the Society of Chartered Surveyors Ireland (SCSI) and food and agri-research ...

Govt looks to reduce VAT rate on energy to 9%

The three coalition party leaders have discussed plans to use domestic legislation to reduce the VAT rate on energy from 13.5% to 9%. The development would mean a ...

Rising cost of living impacting would-be home-buyers

More than half of would-be home-buyers say that the rising cost of living is having a negative impact on their plans to purchase a property. A new survey ...

Construction activity growth slows in first quarter

Growth in the Irish construction sector slowed in the first quarter of the year, according to the BNP Paribas Real Estate Ireland Construction Total Activity Index. It shows ...

How you can beat inflation and save money

Prices have been rising at their fastest pace in decades, but it’s not that anyone needs reminding. According to the latest figures form the CSO published this week, ...

One third of hybrid workers struggle to disconnect

One third of hybrid workers struggle to disconnect and one quarter feel demotivated or uninspired, according to new research from Microsoft Ireland. The ‘Work Trends Index’ also reveals ...

Govt still awaiting VAT ruling from European Commission

The Government has yet to receive an indication from the European Commission that it will give Ireland and other countries flexibility to reduce VAT on energy. The Taoiseach ...

Revenue to continue issuing LPT reminder letters

Revenue has said it has seen significant engagement from the property owners it contacted in relation to their overdue Local Property Tax return. Last month, Revenue confirmed that ...

Fiscal Council eyes ‘unusually’ high rate of inflation

Chair of the Irish Fiscal Advisory Council Sebastian Barnes has said inflation is likely to be at around 7% when figures are released today and will probably peak ...

Public finances show surplus of €200m in March

The public finances recorded a surplus at the end of March of €200m, according to the latest Exchequer figures published by the Department of Finance. This compares to ...

Unemployment rate rises to 5.5% in March as Covid-19 scheme closes

New Central Statistics Office figures show that the seasonally adjusted unemployment rate for March rose to 5.5% from a rate of 5.2% in February. The March jobless rate ...

Central Bank revises downwards economic forecast

The Central Bank has revised its forecasts for growth in the economy downwards, due to higher inflation and the impact on the war in Ukraine on the global ...

Planned increase in Carbon Tax next month to be ‘offset’ – Martin

Next month’s planned increase in the Carbon Tax would be “offset” so there would not be additional costs for householders, the Taoiseach has told the Dáil. The tax ...

One in five workers did not take any annual leave last year – CSO

More than one in five workers did not take any annual leave in 2021, according to a new study from the Central Statistics Office. The CSO’s “Personal and ...

Euro zone economy got March boost from reopening but prices soared – PMI

Euro zone business growth got a boost last month from the re-opening of economies following the Omicron coronavirus variant, according to a new survey. But the survey also ...

Record inflation in services sector as outlook darkens

The outlook for the services sector, as measured by AIB in its monthly Purchasing Managers’ Index, darkened considerably in March following the Russian invasion of Ukraine and record ...

Pandemic Unemployment Payment winds down today

Today marks the end of the Pandemic Unemployment Payment (PUP) and remaining recipients will now transition to jobseekers’ payments, if they are deemed eligible. The scheme was closed ...

Oil inches up as supply concerns weigh despite reserves release

Oil prices inched higher today as worries about tight supply persisted even as investors eyed the release of supplies from strategic reserves from consuming nations and a truce ...

One in five Irish businesses do not have a cyber security policy

One in five businesses in Ireland, the equivalent of 50,000 companies, do not have a cyber security policy in place, according to a new survey. The research from ...

Irish people are the most ‘crypto-curious’ in the world

58% of Irish respondents, who do not currently own cryptocurrency, are interested in learning more or are likely to acquire it in the next 12 months, according to ...

Euro zone inflation surge intensifies ECB policy dilemma

Inflation continued to surge across Europe’s biggest economies this month, leaving households poorer as they picked up the bill for soaring energy costs in the wake of Russia’s ...

Oil seesaws ahead of IEA meeting on stocks release

Oil prices seesawed today ahead of a meeting of consuming nations to discuss a new release of emergency oil reserves alongside a huge planned release by the US. ...

Irish firms may be adapting faster to pandemic recovery – EY

Irish businesses are emerging stronger from the Covid-19 pandemic than their global counterparts, according to new research by EY Ireland. 37% of Irish CEOs surveyed said their businesses ...

Average house selling for above asking price – daft.ie

Properties in Ireland are on average selling for over 3.5% above their asking prices at the moment, according to an analysis of the market by the property website ...

Used car asking prices are now 30% higher than a year ago

The ongoing supply pinch in the used car market is continuing to force prices higher, with asking prices for pre-owned cars climbing 7.9% in the first three months ...

Levy being introduced on use of disposable coffee cups

A levy on disposable coffee cups will be introduced in the coming months in an effort by the Government to cut their use. The Circular Economy Bill published ...

All employers will have to offer sick pay under proposed new laws

The Cabinet has signed off on proposed new laws on sick pay, that will make it mandatory for all employers to offer a minimum level of cover. The ...

Cabinet gives go-ahead for new private sector pension scheme

The Cabinet has agreed to draft legislation which will pave the way for a new pension scheme for private sector workers. It is estimated that just 35% of ...

Mortgage switching volumes up over 40% on last year

There was strong growth in mortgage approvals in February with switching volumes up 42% year-on-year, according to the latest figures from Banking and Payments Federation Ireland. A total ...

Asking house price inflation rises to 12.3% nationwide – MyHome.ie

Annual asking price inflation for housing is now running at 12.3%, according to the latest research from property website, MyHome.ie. It follows an increase in asking prices nationally ...

Banking and customer service dominated FSPO complaints last year

More than half of all the complaints lodged with the Financial Services and Pensions Ombudsman (FSPO) last year were about banking, with customer service issues the main driver. ...

SIPTU conference to hear renewed call for pay increases

Members of SIPTU, the country’s largest trade union, will gather in Sligo today for their Biennial Delegate Conference. The union is expected to renew calls for pay increases ...

85% of employers facing skill shortages – report

85% of employers in Ireland are having to contend with skill shortages, according to a new report. The study was carried out by CIPD Ireland, the professional body ...

Diesel shortage in Europe threatens to slow economic growth

European economies face the risk of a shortage of diesel, the preferred fuel for heavy industry, as sanctions on Russian energy threaten to disrupt imports while supply from ...

Digital divide accelerated by Covid pandemic

Ireland’s older and poorer populations risk being left behind unless action is taken to address the nation’s digital divide, according to a new report. The 2022 Accenture Digital ...

Energy security crucial to investment and competitiveness – NCPC report

Ireland has among the highest rates of dependency on imported sources of energy in Europe, although dependency has declined in recent years. This is according to a report ...

Euro zone business growth stronger than expected in March – PMI

Euro zone business activity has been stronger than expected this month, a survey showed today, although prices also rose at a record pace. This will likely add to ...

Inflation hit to households to average €2,000 this year – KBC

Consumer sentiment plummeted in March, according to KBC Bank Ireland, in what was the biggest month-on-month drop in confidence since the onset of the pandemic. There was a ...

ESRI says inflation could peak at 8.5% this summer

The Economic and Social Research Institute has lowered its forecasts for growth in the economy this year and increased its outlook for inflation as a result of the ...

New housing commencements up 20% in February

Commencement notices for new residential homes last month hit their highest rolling 12-month total since the recording of the data began in 2004. According to the Department of ...

Government announces new law for ‘mass harm’ of consumers

The Government has announced plans for a new law that will make it easier for consumers to group together and seek redress if they have been affected by ...

New online portal for disruptive technology companies

A new national online searchable database has been set up by IDA Ireland, in partnership with Enterprise Ireland, to profile Irish based companies and multinational companies that have ...

Soaring price inflation set to continue

The ESRI is set to warn later this week that soaring price inflation could be with us for up to two years. Many economists had predicted high inflation ...

Monthly online retail sales slow to 5.8% in January

New figures from the Central Statistics Office show that the proportion of retail sales conducted online fell to 5.8% in January of this year compared to 9.7% during ...

New website to help Irish businesses welcome Ukrainian refugees

A new website has been launched that will allow Irish businesses to make “welcome offers” of free or discounted goods to people fleeing the war in Ukraine. The ...

Record high electricity generation from wind last month – GNI

There was reduced reliance on gas for our electricity needs in February, according to Gas Networks Ireland, as multiple storms brought wind generation capacity to a record high. ...

How switching bank may not be as simple as you think

Mary* has been a customer with Ulster Bank for 30 years. She is a sole trader based in the west of Ireland. She is 60 and considers herself ...

Customers facing ‘real difficulties’ as energy costs rise

Price increases for gas and electricity announced by Bord Gáis are difficult, but reflect the underlying volatility of wholesale prices in the market, according to the chairperson for ...

New Central Bank rules on insurance loyalty from July 1

New rules aimed at ensuring motor and home insurance customers do not get penalised for their loyalty are to come into effect from July 1. It means that ...

More lenders likely to hike fixed rates in weeks ahead – Treasury specialist

More lenders are likely to follow the lead of ICS Mortgages in the coming weeks in raising fixed rate products, according to one treasury specialist who works with ...

Euro zone to tighten fiscal policy in 2023, but ready to reverse amid Ukraine war

Euro zone finance ministers have agreed to tighten fiscal policy a little next year after three years of pumping billions into the economy due to the coronavirus pandemic, ...

60% of Irish SMEs not taking data protection steps – study

Six in 10 Irish SMEs take no particular steps to protect customer data online or do not know how to, according to new research. The study from .IE, ...

Worries over paying bills growing – Bank of Ireland

A new report shows that people are becoming more concerned about their jobs, paying bills and other day to day worries, but they are still saving more than ...

Wage rises likely to add to construction cost pressures

Labour costs could be on course to rise in the construction industry as some firms in the sector report difficulties in recruiting staff. According to the latest Purchasing ...

Banks ‘not yet where they need to be’ ahead of Ulster Bank and KBC’s exit

The Central Bank’s Director of Consumer Protection has said he thinks banks here “are not yet where they need to be” in preparing for Ulster Bank and KBC’s ...

Once-off fuel allowance payment to be paid to recipients this week

A once-off fuel allowance payment of €125 will be paid to recipients this week. The measure was announced last month as part of the Government package to tackle ...

Fuel industry engaging in profiteering ‘simply not the case’

Fuels for Ireland, the industry body for fuel suppliers and retailers, has written to Taoiseach Mícheál Martin to express its members’ deep unhappiness at what it claims have ...

Inflation hits highest level since 2001 in February, with more increases certain

The annual rate of inflation rose to 5.6% in February, according to the latest figures from the Central Statistics Office. This is the highest annual rate in almost ...

ECB speeds up stimulus exit and opens path to interest rate rise

The European Central Bank has scaled back its bond-buying stimulus plan in response to inflation being driven up by the war in Ukraine, while giving itself more flexibility ...

Cut in petrol and diesel excise duty comes into effect

The price of petrol and diesel has been reduced since midnight. Late last night, the Dáil voted in favour of a cut in excise on petrol and diesel. ...

Ireland ‘not in a position’ to place a cap on fuel prices

Minister for Finance Paschal Donohoe has said Ireland is not in a position to place a cap on rising fuel prices, as it is a country that must ...

Irish mortgage rates see biggest rise in five years

New figures from the Central Bank show that Ireland had the second highest mortgage rates in the euro area in January, coming just after Greece. The Central Bank ...

Plan to cut fuel excise duties to go before Dáil

It is expected that a proposal will go before the Dáil today that will cut fuel costs through a reduction in excise duties. The changes would then take ...

Euro catches a breath ahead of ECB meeting

The battered euro took a breather today ahead of this week’s European Central Bank meeting, while commodity currencies eased from recent peaks as investors reckoned war-driven surges in ...

New codes of practice on pay inequality and workplace harassment

Two new statutory codes of practice have been launched to help eliminate pay inequality and tackle workplace harassment and sexual harassment. The measures were developed by the Irish ...

Investment drives euro zone Q4 GDP growth, employment up

Euro zone economic growth was driven mainly by investment and rising inventories over the last three months of 2021, as household consumption dropped because of another wave of ...

Enhanced security for certain card payments introduced

Higher security standards for certain card payments have come into effect. The changes are part of the ongoing rollout of Strong Customer Authentication (SCA) and relate to recurring ...

Pandemic Unemployment Payment reduced to €208 a week

The Pandemic Unemployment Payment will be reduced to €208 a week from today, in the next step in the winding down of the scheme. People who previously earned ...

€200 electricity credit to appear on bills from next month

Measures to give electricity users a €200 credit on their bills has been signed into law and it is expected that people will start receiving the discount from ...

Oil spikes to 2008 highs as US, Europe mull Russian oil import ban

Oil prices soared more than 9% today, touching their highest since 2008, as the US and European allies mull a Russian oil import ban and delays in the ...

Is the banking system really ready for the ‘big switch’?

This week was a busy one in the Irish banking landscape as AIB, Bank of Ireland and Permanent TSB all reported annual results for 2021. There were many ...

Price shock from Russian invasion reverberates around world

Since the end of last summer, inflation has rebounded across our own economy as well as the rest of the euro area, the UK and the US. But ...

Why are there not more women workers in Ireland?

One of the surprises of the recession caused by the pandemic is that, unlike the financial crisis over a decade ago, this time round there has not been ...

Nothing off the table over further EU sanctions against Russia – McGuinness

The European Commissioner for Financial Services, Financial Stability and Capital Markets Union, has said nothing is off the table when it comes to potential further action by the ...

Commercial vacancy rate hits highest level in 9 years

The commercial vacancy rate across the country reached 13.9% in the final quarter of last year, the highest level recorded by GeoDirectory in nine years of reporting. There ...

Growth in service sector picks up as restrictions lift

Growth in the country’s service sector picked up strongly in February, as the recovery from the pandemic gained momentum following the lifting of Covid-19 restrictions. The AIB Services ...

Euro zone inflation soars to new high of 5.8%

Euro zone inflation soared to another record high last month, intensifying a policy dilemma for the European Central Bank, which must convey a sense of calm amid war-related ...

Oil spikes to 7-year high as markets avoid Russian supply

Oil prices surged to seven-year highs today as supply disruption fears mounted following hefty sanctions on Russian banks amid the intensifying Ukraine conflict,. Traders are scrambling to seek ...

Unions and employers to give their views on remote working

Groups representing trade unions and employers will address the Joint Oireachtas Committee on Enterprise, Trade and Employment on new remote working legislation. The Irish Congress of Trade Unions ...

Awards for personal injuries have fallen 50% – Tánaiste

Average awards for personal injuries have fallen by 50% since revised guidelines on the calculation of the awards were introduced, the Tánaiste has said. The data was supplied ...

Wage support rates to be reduced further from today

Subsidy rates for the Government’s Employee Wage Subsidy Scheme (EWSS) are to be cut further from today. The changes will mean that all rates will be reduced to ...

Manufacturing grows in February sees slowest pace in 11 months – PMI

The country’s manufacturing sector expanded at the slowest pace in 11 months in February as growth in output, new orders and employment all eased, a survey showed today. ...

Residential commencements last year topped 2019 levels

Residential development commencements jumped 40% last year compared with 2020, and were 19% higher than pre-pandemic levels in 2019 – according to new figures from Deloitte Ireland. The ...

Tough sanctions on Russia knock 2% off European stocks

European stocks sank this morning as Western countries imposed tough new sanctions on Russia following its invasion of Ukraine, while soaring oil prices fed into fears of runaway ...

Mask mandate comes to an end as most restrictions lifted

The wearing of masks in retail settings and on public transport is no longer mandatory from today. Close contact rules have also changed for everyone, except healthcare workers. ...

EC invites comments on proposed insurance data remedies

The European Commission is inviting comments on the commitments offered by Insurance Ireland to address competition concerns around access to a data sharing platform which the insurance body ...

Cost of living and price of housing identified as key challenges

The cost of living and the price of housing are the key issues facing the economy and people’s personal finances, according to a survey by Permanent TSB (PTSB). ...

Consumer sentiment dips on inflation, conflict concerns

Consumer sentiment dipped in February, according to the latest survey from KBC Bank Ireland. The drop was blamed on the increase in living costs experienced by households in ...

Paschal Donohoe ‘optimistic’ on prospects for EU banking union

Minister for Finance Paschal Donohoe is “optimistic” that progress can be made on the completion of the EU banking union in the coming months, identifying it as “an ...

Majority in favour of flexible working arrangements: poll

Women, younger people and the lower paid are strongly in favour of more flexible working arrangements according to a poll carried out on behalf of the Labour Party. ...

Mortgage approvals down on December but up year-on-year – BPFI

Mortgage approvals fell in January when compared to the previous month, but were higher year-on-year, according to data from the Banking Payments Federation of Ireland. There were 3,621 ...

Inflation hitting low income, rural and older households harder – Central Bank

A new report from the Central Bank has found that lower income, older and rural households have faced a higher than average increase in the cost of living ...

Ireland’s national debt ‘one of the highest in the world’ on a per capita basis

The State took on an additional €33 billion in debt over the two years of the pandemic, according to a new report from the Department of Finance. The ...

New rights for consumers on digital goods and services under new law

A new law strengthening consumer rights has been approved by the Government. The Consumer Rights Bill will provide protections over digital goods and services, meaning people will have ...

Housing supply falls to record low level – Sherry FitzGerald

New analysis shows that the country’s stock of houses available for sale is now at the lowest level on record. The analysis from Sherry FitzGerald shows there were ...

Gas demand up over 10% in January – GNI

Demand for gas in January was up almost 11% on December’s levels, according to Gas Networks Ireland’s latest gas demand statement. A drop in temperatures and the return ...

Credit unions want bigger chunk of mortgage market

The Irish League of Credit Unions has called on the Minister with Responsibility for Credit Unions, Sean Fleming, to make the necessary regulatory changes to enable credit unions ...

Doherty calls for new EU ‘fiscal standards’

Sinn Féin’s spokesman on finance Pearse Doherty has said the EU’s fiscal rules need to be replaced by “fiscal standards” which would allow for investment in areas like ...

Land deals of close to €650m struck in 2021 – report

Land deals to the value of €648 million were transacted in 2021, representing growth of 11% on the previous year, a report from property consultants Savills Ireland concluded. ...

Office vacancy rate could move above 10% this year – BNP Paribas Real Estate

The vacancy rate in the Dublin office market stood at 10% last year and could edge higher this year, a report from consultants BNP Paribas Real Estate Ireland ...

Jobseekers in the driving seat as labour market tightens

The jobs market is largely cyclical. Highly dependent on the ebb and flow of economic prosperity, the situation generally swings from being in the applicant’s favour to that ...

EU ‘not overly alarmed’ at growing use of crypto-assets

The EU is not overly alarmed at the growing use of crypto-assets, the EU Commissioner for financial services, financial stability and Capital Markets Union has said. But Mairead ...

Number of people in employment exceeds 2.5 million – CSO

The number of people employed in Ireland increased by 10.1% to just over 2.5 million in the year to the fourth quarter of 2021, according to the latest ...

Inflation down to 5% after first monthly drop since 2020

Annual inflation eased to 5% in January from a 20-year high of 5.5% in December after a 0.4% month on month fall marked the first monthly drop in ...

€5m skills plan aims to foster SME, multinational links

A new €5m initiative aimed at fostering greater collaboration between Irish SMEs and global businesses is being launched today. The Innovation Exchange is being launched by Skillnet Ireland ...

85% jump in online and mobile payments since 2016

131 million online and mobile payments were made in 2021, up 85% on 2016 levels. New figures from Banking and Payments Federation Ireland confirm that digital payments are ...

Annual home price growth hits 14.4%, highest level in six years – CSO

Residential property prices rose by 14.4% on an annual basis in December, new figures from the Central Statistics Office show. This was up slightly on the 14% annual ...

Fuel price hikes adding €600 to the cost of running a car each year

The figures from AA Ireland show fuel prices have increased by more than a third in the past two years. Petrol prices at the pumps are now close ...

Exports hit highest ever level of €165 billion in 2021 – CSO

The value of exported goods from Ireland rose to their highest level ever last year of just over €165 billion, new figures from the Central Statistics Office show ...

Government urged to begin public sector pay talks by May

The head of the country’s largest public service union has called on the Government to open negotiations on a new public service pay agreement by May at the ...

€1m Enterprise Ireland Competitive Start Fund open for applications

Early-stage entrepreneurs and entrepreneurial teams have been invited to apply for Enterprise Ireland’s €1m Competitive Start Fund (CSF) which is now open for applications. The competition is open ...

Motor premium history rule may be misleading customers – broker

A requirement for motor insurers to list a customer’s previous five years’ premiums on their renewal notice, which was introduced in an effort to push premiums lower, may ...

Oil hits seven year highs before easing, as Ukraine hints at concessions

Oil eased today from its highest in more than seven years as Ukraine hinted at possible concessions to Russia that could alleviate tensions between the two countries that ...

Tánaiste leads trade mission to France

Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar will today begin a trade mission to France. France is now Ireland’s closest neighbour in the European Union ...

Construction activity growth speeds up on improved demand

Growth in the Irish construction sector accelerated at the start of the year as the impact of the Omicron wave of Covid-19 subsided and demand rose. This is ...

Are our mortgages next in line for a price hike?

Ireland has once again risen to the top of the league table in Europe when it comes to the interest rates that we pay on our mortgages. The ...

Govt defends cost of living measures amid calls for more supports

Minister for Public Expenditure and Reform Michael McGrath has said the Government recognises the latest measures to address the rising cost of living “won’t meet every need” or ...

77% of B&B owners confident of recovery this year

Over three-quarters of Irish B&B owners have expressed their confidence in how the industry will perform during 2022 as Covid travel restrictions are dropped. But while the majority ...

Government is walking wobbly tightrope on cost-of-living

When Micheál Martin announced an earlier than expected easing of restrictions just three weeks ago, relief was in the air. The worst of the pandemic appeared to be ...

Measures to tackle cost of living to be announced

The Government is set to announce measures to address the impact of the rising cost of living on households. The Taoiseach told a meeting of his party last ...

Irish mortgage rates highest in euro zone again

Ireland once again has the highest mortgage interest rates in the euro zone, new figures from the Central Bank show. The average interest rate on new Irish mortgage ...

Donohoe: Impact of EWSS cuts to become clearer in March

The Minister for Finance has said the Government will have a better idea next month what impact the reduction of the employment wage supports is having on vulnerable ...

Rents up over 10% in final quarter of last year, Daft report reveals

Rents nationally rose at an annual rate of just over 10% in the last three months of last year, according to listed rent prices compiled by the property ...

Sick pay plan approved by Oireachtas committee

A Government plan to give all workers the right to paid sick leave has been approved by the Oireachtas Committee on Enterprise, Trade and Employment. The committee is ...

Personal loans for home improvements jump 25% in 2021

Over 43,000 personal loans for home improvements were drawn down last year, up almost 25% on the previous year. New figures from Banking and Payments Federation Ireland reveal ...

4,500 companies saved from going bust during pandemic

Government pandemic supports saved at least 4,500 Irish companies from going bust – an average of 50 companies every week, according to analysis by PwC which feature in ...

Grocery price inflation hits highest level since October 2020

New data show that household budgets are coming under pressure as grocery price inflation reached its highest level since October 2020 at 1.7% in the 12 weeks to ...

ECB’s Lagarde downplays inflation concerns

European Central Bank President Christine Lagarde appeared to downplay inflation concerns today, arguing that price pressures could still subside before becoming entrenched and high energy costs would be ...

Road traffic numbers hit pre-pandemic levels, but fewer use public transport

The number of cars on Irish roads has hit pre-pandemic levels, but there are fewer people travelling on public transport. This comes as ESRI behavioural research shows that ...

Spending in bars more than trebled as Covid restrictions eased

New figures show that spending in pubs and bars more than tripled on the day Covid-19 restrictions on socialising were eased. The latest Revolut Spending Report shows that ...

Govt looking at ‘range of charges’ over cost of living

Taoiseach Micheál Martin has said the Government will look to see what it can do to alleviate pressure quickly on those who are hardest hit by inflation. He ...

Banking staff trained to spot signs of financial abuse

Banking staff nationwide are being trained to spot the signs of financial abuse and coercive control. The move follows research which found that over 20% of women aged ...

ECB keeps policy unchanged as expected despite record inflation

The European Central Bank kept policy unchanged as expected today, curbing stimulus over the coming months but maintaining plenty of support for the economy even after inflation unexpectedly ...

Difficult decision for Govt on how best to tackle rising cost of living

The Government faces a difficult decision on how to tackle the rising cost of living for poorer families while balancing environmental considerations, according to Professor of Economics at ...

Govt may take more action on rising cost of living

Taoiseach Micheál Martin and Tánaiste Leo Varadkar have both signalled that the Government is going to take further actions to counter the rising cost of living. Opposition parties ...

Scrapping of Covid curbs lifts service sector growth – PMI

Growth in the country’s service sector picked up in January as some firms reported a pick-up in trading conditions and consumer confidence following the lifting of almost all ...

Unemployment figures move higher in January

The unemployment rate rose marginally in January to 5.3%, up from 5.2% in December, new figures from the Central Statistics Office show today. When those on the Pandemic ...

Committee recommends keeping State Pension age at 66

The qualifying age for the State Pension should remain at age 66, the Oireachtas Committee on Social Protection has recommended. In a report published today, the committee also ...

Mortgage lending rules need to be amended, PII says

The design and calibration of the mortgage lending rules need to be amended, an organisation representing the property industry here has argued. Property Industry Ireland (PII) claimed the ...

Govt to extend Enhanced Illness Benefit until end of June

The Government is to extend the Enhanced Illness Benefit (EIB), paid at €350 per week, until the end of June. This scheme is designed to support people who ...

EWSS rates to be cut from today for some companies

The Employment Wage Subsidy Scheme rates will be cut from today, but not for those companies impacted by Covid restrictions introduced in December. The subsidy rates will fall ...

Manufacturing sector continues to grow, AIB PMI reveals

The manufacturing sector continued to grow in January, according to the latest AIB Purchasing Managers Index (PMI). The headline index picked up to 59.4 in January, from December’s ...

New workplace guidance following easing of Covid restrictions

New guidance for workplaces has been published to reflect the recent relaxation of most public health measures. The Transitional Protocol eases many requirements on businesses but says good ...

Euro zone economy – 5 questions for the ECB

Record euro area inflation rates mean price pressures will top the agenda for European Central Bank policymakers meeting on Thursday. No immediate policy action is expected since the ...

Half of firms and workers expect pay to rise this year – Bank of Ireland Pulse

Half of firms are planning to raise basic pay for employees by an average of 4% this year, according to a survey of businesses and consumers by Bank ...

‘Rogue operators’ face competition law crackdown – Varadkar

Rogue operators could face a fine of €10 million or 10% of worldwide turnover for breaches of competition law, under a new law published today. The Competition (Amendment) ...

Consumers encouraged to compare, switch and save with CCPC Money Tools

The Competition and Consumer Protection Commission has launched a new Money Tools campaign which aims to provide consumers with information on how to compare and switch various financial ...

Raising capital and recruiting staff top problems for start-ups, survey finds

Raising capital and recruiting and retaining staff are the biggest challenges facing Irish tech start-ups, according to the findings of a survey carried out by Scale Ireland. 230 ...

One third of workers still have no pension coverage – CSO

A third of the working population aged between 20 and 69 continue to have no pension coverage outside of the State pension, new data from the Central Statistics ...

Consumer confidence improves on easing of Omicron fears

Consumer sentiment in January recovered much of the loss it suffered in December in the face of a surge in the highly contagious Omicron variant, a survey showed ...

€10m investment fund for sustainable start-ups launched

A new €10m fund has been established to invest in socially-conscious start-ups on the island of Ireland. The Impact Syndicate, which is being launched by the Halo Business ...

Jobseeker payments to be collected in post office again

Recipients of jobseekers’ payments will soon have to attend a post office again in order to collect them, under plans announced by the Minister for Social Protection. In ...

Economy expected to continue to grow strongly this year, Central Bank forecasts

The Central Bank has said the economy is expected to continue to grow strongly this year. Its latest Quarterly Bulletin forecasts growth in the domestic economy of just ...

Consumers lack awareness of credit card interest rates, survey reveals

New research suggests that 65% of consumers don’t know how their credit card interest is calculated. The survey carried out by the Irish League of Credit Unions (ILCU) ...

Number of mortgage drawdowns in 2021 hit 12 year high

Last year saw the highest number of mortgage drawdowns since 2009, worth a total value of €10.5 billion. 43,994 mortgages were drawn down in 2021, a 9.4% increase ...

Oil prices rebound as growing geopolitical tensions fuel supply fears

Oil prices bounced back today, recovering some of the previous day’s losses, as growing tension in Eastern Europe and the Middle East fuelled concerns over possible supply disruptions. ...

Cabinet to sign-off on €100 electricity credit scheme

The Cabinet is set to sign-off on a €210 million legislative plan at their weekly meeting this morning, which aims to assist households struggling with the rising cost ...

Central Bank chief warns of inflation risks

The Governor of the Central Bank has said “the prospects for Ireland’s economy appear bright” but warned that the risks to inflation in Ireland remain “on the upside”. ...

Swift rebound in spending forecast in Irish economy

A swift rebound in consumer and business spending is in prospect for 2022 as almost all pandemic restrictions come to an end, according to Goodbody’s latest quarterly outlook. ...

Euro zone recovery stuttered in January as Omicron hit services – PMI

The euro zone economic recovery weakened further this month as renewed restrictions imposed to contain the Omicron coronavirus variant put another dent in bloc’s dominant services activity and ...

Phased return to the workplace begins

Employers can start bringing staff back into the workplace from today onwards, following the announcement of the easing of Covid-19 restrictions on Friday. However, unions have urged businesses ...

Return to workplace can be done a bit faster – Ibec

Danny McCoy, the chief executive of Ibec, has said the lifting of most Covid restrictions is a “positive development” and that a gradual return to the workplace can ...

Cabinet to consider NPHET recommendations on restrictions

The three Coalition leaders will meet this morning at Government Buildings to consider recommendations from the National Public Health Emergency Team on the easing of Covid-19 restrictions, in ...

Dublin Port volumes dip just 5.2% despite Brexit hit

The volume of goods passing through Dublin Port last year only dropped marginally, despite the impact of Brexit on Irish Sea trade. Overall, 34.9 million tonnes went through ...

Annual rate of inflation hits 20-year high, reaching 5.5% in December

New figures from the Central Statistics Office show rising inflation has resulted in increases across a range of products, including bread rising by 5.3% while crisps increased by ...

European firms make slow progress in appointing more women to boards

The proportion of women in leading positions at major European companies rose last year, but fell behind schedule to reach the European Commission’s proposed target of 40% for ...

Job vacancies for HR roles soar by 420% – IrishJobs.ie

Employers are seeking to hire more of the people who hire people to work in their companies. Job vacancies across Talent Acquisition and Human Resources saw an unprecedented ...

Oil at highest level since 2014 as Turkey outage adds to tight supply outlook

Oil prices rose for a fourth day today as an outage on a pipeline from Iraq to Turkey increased concerns about an already tight supply outlook amid worrisome ...

63% of professionals considering a job change: survey

More than six out of ten workers here are considering a change of job this year, according to a survey conducted on behalf of business networking platform LinkedIn. ...

The ABCs of the ECB

Economics is not all about numbers. In fact, in one of the most important areas of economics – central banks and monetary policy-language ranks alongside number crunching in ...

Covid Credit Guarantee Scheme extended until June

The Covid-19 Credit Guarantee Scheme for small and medium businesses has been extended the end of June, the Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar ...

Residential property deals up almost 19% last year

The number of residential property transactions increased by almost 19% to 44,110 in the 12 months to October 2021, according to the latest Residential Buildings Report published by ...

Brexit boosts international banks’ Irish balance sheets to over €500bn

The Irish balance sheets of large systemically important banks with international operations run from Ireland have grown by as much as €200bn since the UK voted to leave ...

Inflation in building costs to continue – survey

More than four out of every five builders across the country expect the prices they charge for projects will rise in the first three months of the year ...

Firms supported by Local Enterprise Offices created 7,440 new jobs last year

Companies being supported by the country’s Local Enterprise Offices created 7,440 new jobs last year, a 9% increase on the figure in 2020. It brought to 35,729 the ...

Has the pandemic permanently changed our spending ways?

Covid-19 has undoubtedly changed many aspects of our lives, some of which we would hope to return to as soon as the clouds of the pandemic lift. However, ...

SCSI expects property prices to rise by 5% in 2022

The Society of Chartered Surveyors Ireland (SCSI) has said it expects the median price of a home in Ireland to increase by almost €14,000 this year. A poll ...

‘Collapse’ in home ownership among young adults – report

Home ownership among adults of prime working age has “collapsed” since the financial crisis, according to a report from the Parliamentary Budget Office. Using an international housing affordability ...

NTMA raises €3.5bn from new 10-year bond

The National Treasury Management Agency raised 3.5 billion euros from the sale of a new 10-year bond, a lead manager for the deal said, covering at least a ...

Flexible work to become a reality for employees in 2022

The right to request flexible work arrangements is set to become a reality this year for Irish workers as the EU’s Work Life Balance Directive must be implemented ...

Irish mortgages rates still second highest in euro zone

Ireland’s mortgage rates for new loans remained the second highest in the euro area in November, according to the Central Bank. Greece had the highest rates in the ...

Covid-adjusted jobless rate moves up to 7.5% in December – CSO

The unemployment rate, adjusted to include those on the Pandemic Unemployment Payment (PUP), rose to 7.5% in December compared to 6.9% in November. The traditional seasonally adjusted monthly ...

Asking prices for used cars now 56% higher than they were before the Covid-19 pandemic

The rate at which the price of used cars is increasing has reached a new high, driven by the supply shortages caused by the Covid-19 pandemic and Brexit. ...

Minimum wage rises offset reduced hours, report finds

The average take home pay of workers on the minimum wage increased over the years from 2016-2018, according to new research from the Economic and Social Research Institute. ...

Mortgage approval values reach new high in November

Almost 5,000 mortgages were approved in November, up 8.6% on the previous month but down 4.6% on the same time last year. New figures from Banking and Payments ...

Gloomy outlook for global recovery, World Economic Forum survey finds

Only one in 10 World Economic Forum members surveyed expects the global recovery to accelerate over the next three years, a poll of nearly 1,000 business, government and ...

Govt to consider reducing back public servants’ hours to pre-July 2013 levels

Thousands of public servants will have their working hours reduced back to lower pre-austerity levels from 1 July, if a recommendation made by an independent body examining the ...

Supermarket sales dip by 5.2% over Christmas period

New figures show that the value of the grocery market declined by 5.2% to €3.1 billion during the 12 weeks to December 26 as the market faced a ...

Small firms have muted expectations for 2022 – SFA

Confidence among small businesses took a hit amid a new round of restrictions on hospitality venues which were introduced just before Christmas. The Small Firms Association said that ...

Poverty levels jump after households receiving subsidies pay rent – SJI study

The poverty risk of households that are in receipt of housing subsidies is two and a half times greater after they have paid their rent, according to an ...

Spend in bars and on testing rose in December – Revolut

Spending in bars rose 8% in December, despite the curbs put on socialising by Government Covid-19 restrictions. But the increase in hospitality spend also coincided with a massive ...

Budget measures helping people cope with inflation – Donohoe

The Minister for Finance says decisions made by the Government in last year’s budget will help individuals and households cope with the cost of inflation. Further decisions to ...

‘Exponential growth’ in customs declarations – Revenue

2021 saw an “exponential growth” in the number of customs declarations, according to headline results published by Revenue today. New EU VAT rules, which came into effect in ...

Deficit on course to fall to 2% of GDP

The deficit in the state finances has fallen to as low as 2% of GDP for 2021, which would make it one of the smallest deficits in the ...

Coveney to meet UK’s new Brexit minister Liz Truss

Minister for Foreign Affairs Simon Coveney will meet British Foreign Secretary Liz Truss in London this evening. It will be the first opportunity for the ministers to meet ...

Highest ever tax take of €68.4bn – Exchequer returns

The Department of Finance has recorded the highest ever tax take of €68.4 billion, pushing the Exchequer deficit down to €7.3 billion. According to the latest Exchequer figures, ...

Central Bank’s revised SFS now simpler and shorter

The Central Bank has today published a revised simplified Standard Financial Statement to assist borrowers in financial distress after a review. The SFS is used by banks and ...

2021 new car registrations up 19% – SIMI

New car registrations for 2021 were up 19%, according to statistics published by the Society of the Irish Motor Industry. Total new car registrations for 2021 finished at ...

Services sector growth slows sharply again in December – PMI

Growth in the country’s service sector slowed sharply for the second successive month in December as firms reported that a rising wave of Covid-19 infections was dampening demand, ...

Strong growth in Irish advertising market in 2021 – GroupM

The Irish advertising market recovered strongly in 2021 from the pandemic hit to spending in the previous year, according to a report from media investment company, GroupM Ireland. ...

House prices at seven times average income as supply dwindles further

Asking prices for property rose by almost 10% in 2021, according to an analysis by the property listings website, myhome.ie. Asking price inflation came in at 7.4% in ...

Minimum pricing on alcohol comes into effect

The introduction of minimum pricing on alcohol in Ireland came into force today. The new law will largely affect alcohol sold in off-licences, shops, and supermarkets. A broad ...

Euro marks 20 eventful years

The euro is today marking 20 years since people began to use the single European currency, overcoming initial doubts, price concerns and a debt crisis to spread across ...

Consumer confidence drops, driven by Covid concerns

Irish consumer confidence dropped again in December, as concerns around Covid-19 and the cost of living intensified. The KBC Bank consumer sentiment index dropped to 74.9 from 83.1 ...

Donohoe says optimistic about economic recovery in 2022

Minister for Finance Paschal Donohoe has said that the heightened level of pandemic supports will remain in place until the end of January in line with most recent ...

Government announces expansion of Covid-19 supports

The Government has announced enhanced business support schemes for the hospitality and arts sectors hit by the latest restrictions. This includes reopening the Employment Wage Subsidy Scheme to ...

Donohoe announces plan to reduce stake in AIB

Finance Minister Paschal Donohoe said he intends to sell part of the State’s 71.12% directed shareholding in AIB Group over the next six months. The shares will be ...

Cabinet to discuss changes to Covid business support scheme

The Cabinet will meet this morning where changes to the Covid Restrictions Support Scheme (CRSS) are expected to be discussed. Businesses affected by the latest round of Covid-19 ...

Demand for gas rises as temperatures drop

Demand for gas was up by almost a fifth in November as temperatures plummeted around the country. The usage of gas for domestic purposes was up 16% on ...

‘Follow the spirit’ of new Covid guidelines – Holohan

Chief Medical Officer Dr Tony Holohan has said that the new restrictions beginning today will substantially cut the volume of total social contact across society if people follow ...

Views sought on EU multinational tax reporting law

The Government is seeking views from interested parties on a new EU law intended to make multinationals disclose their tax payments and activities in each member state. Ireland ...

Health insurance: Why you should review before you renew

Most of us shop around for the best deal on our car insurance, but when it comes to health insurance we’re not so quick to switch. Changing provider ...

NPHET in new recommendations amid Omicron concern

The Cabinet is expected to meet today to consider the latest advice from the National Public Health Emergency Team (NPHET) in response to the rise of the Omicron ...

Irish consumers could pay extra €170m in customs duty due to Brexit

Irish consumers could pay as much as €170m in additional customs duty this year as a consequence of Brexit, an analysis suggests. Figures to the end of November ...

Profitable firms should refund wage subsidies – Tánaiste

The Tánaiste has told the Dáil that profitable companies “should refund the money they received under the employment wage subsidy scheme”. Taking Leaders’ Questions, Leo Varadkar said that ...

ECB set to dial back stimulus one more notch

The European Central Bank is all but certain to dial back its stimulus one more notch today while pledging to keep supporting the financial system next year, sticking ...

ESRI predicts economy will grow by 14% this year

Growth in the economy this year will be “robust” and “unprecedented”, according to the Economic and Social Research Institute. In its latest quarterly economic commentary, the ESRI predicts ...

Annual property prices jump by 13.5% in October – CSO

Property prices in October rose by 13.5% on an annual basis to mark the fastest annual pace of growth in over six years, according to the latest figures ...

Is it time to rethink employment services for the long-term unemployed?

Opinion: the experience of those using public employment services such as JobPath shows they’re not fit for purpose At the last count, just over 225,000 people were on ...

Govt announces supports for firms hit by flooding

The Government has opened the Humanitarian Support Scheme to small businesses, sports clubs and voluntary organisations that have been affected by flooding as a result of Storm Barra, ...

Risks remain for credit unions despite improvements – Central Bank

A new report on the credit union sector by the Central Bank reveals another challenging year as credit unions continued to navigate through the impacts of Covid-19 as ...

56% of workers will only apply for flexible or remote working jobs – Indeed

A new survey shows that 56% of Irish working-age adults say they will in future only consider jobs that offer flexible working, or allow them to quit the ...

Cabinet expected to sign-off on €100 electricity credit plan

Ministers are expected today to sign-off on a plan to assist households struggling with the rising cost of electricity bills. It is believed that a once-off €100 credit ...

Private sector staff should seek pay rises up to 4.5%, ICTU and Nevin Economic Research Institute recommends

Private sector employees should seek pay increases of between 2.5% and 4.5% during 2022, guidance issued by the Private Sector Committee of ICTU and the Nevin Economic and ...

30% milestone of women on ISEQ 20 boards passed in 2021

A new report shows the percentage of women on the boards of ISEQ 20 companies this year rose to 31% from 18%. This means that the top publicly ...

Construction sector continues to see strong growth despite challenges

Construction firms continued to experience strong growth in November, the latest Ulster Bank Construction Purchasing Managers Index survey shows. The Ulster Bank Construction PMI posted a reading of ...

The Christmas bonus – the costs and considerations for employers

Christmas parties have been cancelled but employers who can afford to are still marking the festive season by giving employees a Christmas bonus. The practice of paying bonuses ...

Davy revises up economic growth prediction to 15.5%

Davy has revised upwards its forecast for Irish GDP growth to 15.5% in 2021 and 6.7% in 2022 due to a buoyant multinational sector and a strong rebound ...

Study: 79% say climate change should be high priority for Govt

An Environmental Protection Agency study has found 96% of people believe climate change is real, while 90% believe the country has a responsibility to act on climate change. ...

Rising energy prices push inflation to 20-year high

The annual rate of inflation rose to 5.3% in November, its highest level since June 2001. The latest figures from the Central Statistics Office show the biggest increases ...

Report highlights ‘seismic’ potential of digital economy in Ireland

The digitisation of the Irish economy could potentially be worth around €300 billion in 2023, accounting for 65% of economic output. That is according to forecasts by Amárach ...

Virtual general meetings allowed to continue as Companies Act extended

The interim period of the Companies Act 2020 has been extended to the end of April next year following Government approval this week. The Act makes temporary amendments ...

Govt to announce financial supports for businesses

The Government is expected to announce new financial supports for companies which have been negatively affected by the latest Covid-19 restrictions. Tánaiste Leo Varadkar has said that the ...

New small company rescue process launches

The new dedicated rescue process for small companies, that makes restructuring faster, cheaper and more efficient, launches from today. Similar to examinership, the scheme is available to eligible ...

‘Exceptional growth’ in economy despite Covid – Ibec

Business representative group Ibec has said the economy is going through a period of “exceptional growth” despite Covid and that should allow the worst impacted sectors to be ...

Bord Bia: Food service sector won’t fully recover until 2023

The food service sector in Ireland will not return to pre-pandemic levels until 2023 at the earliest, according to a new report by Bord Bia. While the value ...

Over 40% of first time buyers use gifts as part of deposit

Over 40% of first time buyers used gifts as part of their deposit in the first half of this year, according to new figures from Banking and Payments ...

ESRI reports examine trade in services between Ireland, NI

Two new reports from the Economic and Social Research Institute examine the flow of trade in services between Ireland and Northern Ireland and the factors influencing foreign direct ...

PUP to have five rates between €150 and €350 for new entrants

The Pandemic Unemployment Payment (PUP) will have five rates when it reopens to new entrants laid off as a result of the latest Government Covid-19 restrictions from tomorrow. ...

Full year deficit could shrink to €5 billion, 1% of GDP

The deficit in 2021 now looks set to fall to as low as €5 billion to €6 billion – only 1-1.5% of GDP – according to an economist. ...

NPHET examining hospitality curbs, household visit limit

The National Public Health Emergency Team is believed to be considering a range of curbs on the hospitality sector tonight, with the aim of reducing transmission of Covid-19. ...

Cases of EWSS ‘fraud’ referred to gardaí – Revenue

The Revenue Commissioners have said there have been examples of “absolutely fraudulent behaviour” in relation to the Employment Wage Subsidy Scheme (EWSS). Chairman Niall Cody said these cases ...

Health insurance prices to rise, despite stamp duty cut

A health cover analyst has said a cut in the stamp duty rate on private health insurance is likely to be offset by a rise in premiums next ...

Eurogroup head Donohoe confident Omicron won’t derail recovery

Finance Minister Paschal Donohoe is confident the euro zone’s recovery can be sustained into next year even if the Omicron coronavirus variant requires new public health measures, he ...

Jobless rate, including Covid-19 payouts, falls to 6.9% – CSO

The unemployment rate, including people receiving temporary Covid-19 jobless benefits, fell to 6.9% in November from 7.9% in October, the latest Central Statistics Office figures show today. The ...

Employment Wage Subsidy Scheme rates reduced from today

Employment Wage Subsidy Scheme rates will be reduced from today as part of a plan to gradually wind it down. However, business groups and the opposition have called ...

1.4 million to receive Christmas bonus next week

The Department of Social Protection has said 1.4 million social welfare recipients will receive their Christmas bonus next week. Pensioners, carers, people will disabilities, lone parents and those ...

Consumer spending over Christmas to hit €5.4bn, says Retail Ireland

Up to €5.4bn could be spend by consumers this Christmas, Retail Ireland has predicted. This works out at around €832 per household, the organisation claimed, and represents a ...

Mortgage approvals slow in October – BPFI

New figures from Banking Payments Federation Ireland show a slowdown in mortgage approvals in October both on a monthly and annual basis. BPFI said a total of 4,568 ...

Climate action: Consumers want more financial incentives

Most consumers want to take action on climate change, but believe it will cost them financially to do so. That’s according to new research by Permanent TSB and ...

Retail sales dip in October but outstrip pre-Covid levels

Retail sales fell by 1.7% in October compared to the previous month but were 9% up on pre-pandemic levels in the same time of 2019, new Central Statistics ...

Consumer and business confidence drops, BoI data shows

Consumer and business confidence dropped this month, amid rising Covid cases and Brexit setbacks. That is according to the latest Bank of Ireland Economic Pulse, which has fallen ...

Is it time for Ulster and KBC Bank customers to switch?

If you are a customer of Ulster Bank or KBC, you may want to start thinking about what bank you will switch to when they withdraw from the ...

Can we expect pay hikes next year to offset rising prices?

Economists differ at the moment over whether the pace of price increases that we are seeing is temporary, or ‘transient’ as they like to put it. Some argue ...

World markets fall as new virus variant sparks panic

European stocks sank over 3% this morning as reports of a newly identified and possibly vaccine resistant coronavirus variant stoked fears of a fresh hit to global economy ...

Ireland’s skills strategy to be reviewed as part of OECD process

Ireland’s Skills Strategy is to be reviewed as part of a joint project between the state, stakeholders in the skills sector and the OECD. The review, led by ...

Half of restaurants adopted new tech during pandemic

Almost half of restaurant and takeaway owners have adopted new technologies since the start of the pandemic, according to new research by Irish food ordering software developer Flipdish. ...

First-time buyers getting older, mortgage drawdowns increase – study

Just over a quarter of first-time buyers of homes were aged 30 or under last year, according to an analysis of data carried out by the Banking and ...

Euro zone governments urged to keep spending next year

Euro zone governments should keep spending next year to help the post-pandemic recovery, though to different degrees depending on their debt level, the European Commission said today. They ...

Truckers, hauliers holding Dublin protest over fuel costs

A group of truckers and hauliers are leading convoys from the main motorways around Dublin into the city centre today, protesting for “lower fuel costs at the pump ...

Entertainment sector calls for introduction of supports

A spokesperson for the Music and Entertainment Association of Ireland has appealed directly to the Taoiseach to intervene and introduce supports for the industry. On RTÉ’s Drivetime, Matt ...

Donohoe publishes terms of reference for banking review

The Minister for Finance has published the terms of reference for a “broad-ranging” review into the retail banking sector, which will consider services provided by both banks and ...

Payment card fraud hits €24m in 2020 – BPFI

New figures show that debit and credit card fraud losses rose by 9% to reach €24.1m last year with over 275,000 fraudulent debit and credit card transactions. The ...

Consumer confidence drops as Covid cases surge

Consumer confidence has dropped to a seven-month low as Covid cases continue to surge, according to the latest KBC Bank Ireland consumer sentiment index. The reading for November ...

Over 70% worried about rising prices of everyday items

74% of consumers are concerned about rising prices for everyday items, according to Deloitte Ireland’s latest consumer tracker survey. Over half of respondents said they believe the cost ...

Ministers to discuss specific Covid supports for hospitality sector

Senior Government ministers will meet later today to discuss the introduction of specific measures to support the hospitality sector. The Cabinet Sub Committee on Economic Recovery will also ...

Turning Black Friday green: Shoppers encouraged to buy Irish

An important date in the retail calendar, December 8 was the traditional day for country people to venture to the city to do their Christmas shopping. The festive ...

Early stage firms benefit as VC funding rises again

Venture capital funding to Irish firms rose by 19% to €231m in the three months to the end of September, according to the Irish Venture Capital Association’s latest ...

Irish and British leaders to discuss Covid and protocol

Political leaders in Ireland and Britain are holding a meeting today at which they will discuss Covid-19 and UK-EU talks aimed at breaking the deadlock in the row ...

Working from home resumes to help curb spread of Covid

Employees should work from home from today unless it is necessary to attend the workplace in person. The measures are among the latest Government restrictions being put in ...

Risks of cost overruns in NDP, warns IFAC

The Irish Fiscal Advisory Council (IFAC) has said the planned increases in public investment under the National Development Plan (NDP) will help Ireland achieve its climate and housing ...

Covid pushes ESG up the agenda in Irish boardrooms

A new survey shows that board level discussions of environmental, social and governance (ESG) matters are up 30% since the start of the Covid-19 pandemic. The survey, from ...

Food firms being hit with price rises of up to 30%

Small and medium sized food companies in Ireland are being hit with input cost rises of almost 30%, according to research from the representative group Love Irish Food. ...

Business community concerned about prospect of more lockdowns

Chambers Ireland said today that there is a growing unease within the business community regarding the Government’s pandemic planning. Ian Talbot, Chambers Ireland chief executive, said there was ...

At a glance: Here are the updated Covid-19 restrictions

The Taoiseach has announced fresh restrictions as Covid-19 infection rates surge across the country. Micheál Martin said without the success of the vaccination programme, there is “no doubt ...

Govt announces return to remote working ‘unless absolutely necessary’

People should work from home unless it is absolutely necessary they attend in person, the Taoiseach has said. Announcing a series of measures aimed at slowing the spread ...

Euro zone Q3 GDP rises 2.2% on quarterly basis as expected

Euro zone gross domestic product (GDP) rose 2.2% on a quarterly basis in the three months from July to September, the European Union’s statistics office Eurostat said today. ...

Further PUP reductions from today

Recipients of the Pandemic Unemployment Payment (PUP) will see the amount they receive reduced further from today. The move is part of the ongoing process of gradually winding ...

Cabinet to consider work from home proposal

The Cabinet will today consider a proposal that would strongly advise people to work from home. The move is being described as far-reaching and people will be advised ...

23% of Local Property Tax returns yet to be made

Returns for around 23% of properties liable to the Local Property Tax (LPT) have not yet been made, nearly a week after the deadline for submission. Revenue said ...

Accountancy body urges CRO to extend filing deadline past November 25

Accountants and companies preparing for annual returns filing cut-off date facing ‘extreme pressure’ due to pandemic working conditions. The largest accountancy body in the country wants the Companies ...

Employers likely to struggle to fill Christmas jobs – Indeed

Employers in retail and hospitality are likely to struggle to fill Christmas jobs, according to data published today by jobs site Indeed. It found that whilst postings for ...

Christmas shopping? Know your rights

It’s the most wonderful time of the year, unless you get scammed by rogue traders. With just five weeks to go until Christmas, it is important to know ...

Contactless payments hit new record highs

Contactless payments have hit new record highs, while the number of people using online banking continues to grow, according to figures from Banking and Payments Federation Ireland. Almost ...

Almost 40% of Irish firms don’t have a sustainability strategy

43% of Irish companies have firm plans to be carbon-neutral or achieve net zero, according to a survey by IT company DataSolutions. The findings show that 65% of ...

Revenue warns of hidden costs when buying online from outside the EU

Revenue has reminded shoppers that they should check whether the advertised price of goods includes all tax and duty costs when buying online from outside the EU in ...

Supply chain disruption a major concern for businesses – Eurochambres survey

A lack of skilled workers, access to affordable energy, and increasing labour costs are among the main challenges facing businesses across Europe, according to the Eurochambres Economic Survey ...

Rents continue to rise as availability plummets

Average rents for residential properties were 6.8% higher in the third quarter of the year compared to the same period in 2020, according to the latest rental report ...

ISME sharply critical of UK threat to trigger Article 16

The body representing Irish SMEs has sharply criticised the UK’s threat to trigger Article 16 of the Northern Ireland Protocol, potentially over the role of the European Court ...

Triggering Article 16 would be ‘irresponsible’ – Taoiseach

The Taoiseach has said nothing is certain regarding the triggering of Article 16 of the Northern Ireland Protocol by the British government and he warned of the dangers ...

Cross-border initiative to focus on climate change

Taoiseach Micheál Martin and Stormont’s Deputy First Minister Michelle O’Neill will launch an initiative to bring together experts on both sides of the border to research how to ...

Unions lodge 3% pay claim for community, voluntary sector workers

Unions have lodged a pay claim for a 3% increase for thousands of workers in the community and voluntary sector. SIPTU, Fórsa, the Irish Nurses and Midwives Organisation ...

Spending on nights out and socialising soars in October – Revolut

New figures from financial technology company Revolut show that spending soared on get-togethers and nights out as Covid-19 restrictions lifted in October. Consumer spending was up by 5% ...

Construction activity grows for sixth month in a row

Growth in construction activity accelerated in October, for the sixth month in a row, Ulster Bank’s latest Purchasing Managers’ Index shows. But construction firms said Brexit, Covid and ...

Trade-off between economic growth and climate action?

Greta Thunberg famously asked “how dare you?” in a speech in 2019. The emotional question was followed by “we are at the beginning of a mass extinction and ...

Property tax deadline extended until Wednesday

Revenue is to extend the deadline for property owners to file their Local Property Tax returns until 5pm on Wednesday. The decision comes as large numbers of people ...

Govt approves 2% cap on rent hikes in rent pressure zones

The Government has approved a 2% cap on rent increases in rent pressure zones (RPZs). A RPZ is a designated area where rents cannot be increased by more than general inflation ...

Enterprise sector faces emissions cut of 40% under plan

Businesses will have to reduce their emissions by around 40% under the Government’s Climate Action Plan, which also warns failure to act means firms risk being left behind. ...

Government plans to have one million electric vehicles on roads by 2030

The Government Climate Action plan – to be published today – will aim to have almost one million electric vehicles in operation in Ireland by 2030. The plan ...

Central Bank’s pledge on climate change action

Central Bank Governor Gabriel Makhlouf has written to the chairs and CEOs of regulated financial companies to remind them of their obligations around climate change. The Central Bank ...

Jobless rate including Covid payments falls to 7.9% in October

Unemployment fell to 7.9% last month, according to the latest figures from the Central Statistics Office, and it includes those in receipt of the Pandemic Unemployment Payment. This ...

Services sector prices, backlogs hit 21-year highs – PMI

Growth in the services sector eased slightly in October from the previous month but remained near historic highs as the Covid-19 recovery pushed growth in prices and work ...

Corporation tax in October almost €1bn ahead of target

The public finances continued to recover last month, according to the latest Exchequer figures from the Department of Finance. There was an Exchequer deficit of €7.438 billion recorded ...

Households’ wealth hits new high of €312.8 billion

New figures from the Central Statistics Office show that households saved over €31 billion in 2020, bringing their financial net worth to an all-time high of €312.8 billion. ...

‘Global business community not prepared to deal with climate emergency’

The global business community is not prepared to deal with the climate emergency, according to Accenture’s Global Sustainability Services Lead Peter Lacy. The United Nations Global Compact is ...

28% rise in new companies registered so far this year

There has been a 28% rise in the number of new companies registered in Ireland in the first nine months of the year compared with the same time ...

9 things to avoid buying this Christmas to save money

With less than six weeks to go until Christmas, it’s time to start planning your shopping list – if you haven’t already – and staggering your spending so ...

Target of 900K electric vehicles by 2030 difficult – industry experts

Getting 900,000 electric vehicles on Irish roads to slash transport emissions by the end of the decade will be difficult if current levels of cars sales continue, Morning ...

Manufacturing growth back near record high – PMI

Growth in factory activity rose back towards all-time highs in October despite production remaining constrained by supply delays and input and output price inflation hit fresh record levels, ...

How to tell if an ‘eco-friendly’ firm is greenwashing

We’re seeing more ‘eco-friendly’ and ‘all natural’ products on our shelves, as consumers demand more sustainable choices. But as companies come under increased pressure to meet their Environmental, ...

Nightclub owners face fines for Covid breaches

Nightclubs and venues that breach new ticketing laws will be fined up to €2,500 under regulations which come into force today. Tickets must be purchased at least one ...

Ulster Bank urges customers to get ready for changes

Ulster Bank is encouraging customers to get ready for changes coming next year as part of the bank’s withdrawal from the Irish market, which was first announced in ...

30% of households have filed Local Property Tax return

Around 30% of households liable for the Local Property Tax have filed their return, ahead of the deadline which is just over a week away. Revenue said around ...

Changes to employment permit system to address shortages

Changes are being introduced to the employment permit system to allow a greater number of workers from outside the European Economic Area work here. The changes will include ...

IoD: 33% of boards have no succession plan

One third of business leaders say their primary board does not have a succession plan in place to replace board members, according to new data from the Institute ...

Global tax rate could see Ireland collect extra €12.4bn

Ireland could collect an extra €12.4 billion in corporation tax under the proposed 15% global minimum rate. That’s according to figures published today by the EU Tax Observatory, ...

Third quarter mortgage drawdowns jump by 40.9% – BPFI

New figures show that the volume of new mortgages drawn down in the third quarter of this year jumped by 40.9% compared to the same time last year. ...

Progress on talks over collective bargaining rights – ICTU

The Irish Congress of Trade Unions says some progress has been made in talks with the government on collective bargaining rights, which is one of the main issues ...

Farming – a big problem for Ireland’s climate goals?

According to Teagasc, the semi-state agency that advises the agriculture industry, dairy farming is the most profitable of Ireland’s mainstream agricultural enterprises. Data from the Environmental Protection Agency ...

Recommendation on minimum pay rates for construction workers approved

A Labour Court recommendation for new minimum pay rates to workers in the construction sector has been formally approved by Minister of State for Business, Employment and Retail ...

Consumer confidence slipped in October – BOI Economic Pulse

Consumer confidence slipped in October, according to the latest Pulse survey from Bank of Ireland, which found that consumers were more concerned about rising prices. The Bank of ...

EU to discuss gas supply crisis and electricity prices

European energy ministers are holding a special meeting in Luxembourg to try to forge agreement on how to emerge from the current crisis in gas supplies, and the ...

Late night entertainment reopens at 100% capacity

Late night entertainment is set to reopen across the country tonight, after new safety guidelines were signed-off between the Government and industry representatives. Minister for Tourism, Culture, Arts, ...

Consumer confidence holds steady in October

Consumer confidence held steady in October, according to latest KBC Bank Ireland consumer sentiment index. The reading for this month stood at 86.8, effectively unchanged from the figure ...

65% of companies increased pay rates in 2021 – Ibec

65% of companies increased basic pay this year, with an average increase of 2.8%, the latest Ibec HR Update Survey shows. The figures are higher than had been ...

Multiple table bookings expected in new guidelines

New safety guidelines for nightclubs, live events, bars and restaurants will be published today. The Taoiseach told a meeting of his party last night the guidance for venues ...

Banks lobby to link accountability laws to lifting of bonus ban

Banking & Payments Federation Ireland (BPFI) has warned members of the Oireachtas finance committee that planned new laws to make it easier to hold financial firm managers accountable ...

Health Insurance Authority proposes reduction to health insurance levy

Health insurance premiums look set to decrease as a result of the Health Insurance Authority’s recommendation of a one-off cut to the health insurance levy paid by insurers. ...

Most renters hope to own their own home – survey

A majority of renters still hope to own their own homes, according to research by a State housing body. However, two thirds of tenants now see the cost ...

Energy, services boost euro zone inflation as expected in September

More expensive energy and services boosted euro zone inflation as expected in September, data showed today, with core inflation also higher. The European Union’s statistics office Eurostat said ...

Views of the public sought on future of tax and welfare

A public consultation is being launched today on the work of the Commission on Taxation and Welfare. Established earlier this year, the Commission is an independent body tasked ...

Business insurance costs up 15% despite reforms survey finds

The cost of insurance for businesses and voluntary groups continues to rise despite reductions in the value of certain personal injury awards introduced earlier this year, a new ...

1 in 4 expect to pay mortgage or rent in retirement

One in four householders believe they will still be paying off their mortgage or paying rent when they retire, according to research from insurer Aviva. The belief is ...

State pension hike and retirement age stasis threaten sustainability of pension system – report

The increase in the state pension in last week’s budget together with the decision not to raise the retirement age are impacting on the sustainability of the overall ...

Concerns about productivity drop with hybrid working

One in four employers say they are concerned about a possible decline in productivity as they move to a hybrid working model. The finding is contained in a ...

EU ‘won’t let Ireland be singled out’ in NI Protocol row

Ireland’s EU Commissioner has said Europe will not allow Ireland to be singled out in the fallout if negotiations on the Northern Ireland Protocol end in failure. Mairead ...

Will inflation change the facts after Budget 2022?

In the run up to the Budget, the Government’s plans had been characterised as potentially “risky” and at the limit of what could be considered “prudent” by the ...

Personal injury awards down 40% due to new guidelines, report finds

The value of average awards for personal injuries made by the Personal Injuries Assessment Board (PIAB) has fallen by 40% from last year’s levels, following the introduction of ...

Brexit Impact Loan Scheme opens for applications

The Brexit Impact Loan Scheme, which is designed to help SMEs, farmers and fishers respond to the impact of Brexit has opened for applications today. The €330m scheme ...

Budget to compensate most households for price growth – ESRI

The Economic and Social Research Institute (ESRI) has said Budget 2022 will on average compensate most households for price growth forecast for next year. In its post-Budget analysis ...

EU proposal provides a ‘sensible solution’ – O’Neill

The latest EU proposal to address problems of post-Brexit trade in Northern Ireland provides a “sensible solution” and a bespoke arrangement which can provide a way forward, Northern ...

No guarantee that 22 October reopening will go as planned – Taoiseach

The Taoiseach has said he cannot guarantee that the 22 October phase of reopening will proceed as planned. Micheál Martin’s comments come as the Department of Health has ...

Oireachtas committee told poor pay and conditions responsible for hospitality labour shortage

The pay and conditions of hospitality workers has hit “rock bottom” and people are afraid to speak out about it, an Oireachtas Committee has heard. SIPTU organiser Denis ...

Budget 2022 puts economy on ‘prudent path’ – IFAC

The Irish Fiscal Advisory Council (IFAC) said the Government has put the economy on a more “prudent path” after Budget 2022. IFAC said that in following its spending ...

Donohoe announces €1.5bn in extra spending and tax cuts

Minister for Finance Paschal Donohoe has announced €1.5bn in extra spending and tax cuts in Budget 2022. He said the measures would tackle the rising cost of living, ...

Earnings boost for workers as bands and credits rise

Workers who pay income tax at the higher rate should see their take home pay rising by around €420 next year as a result of changes announced in ...

€1bn of new spending, tax cuts expected in today’s Budget

Budget 2022, which will be announced this afternoon by Minister for Finance Paschal Donohoe, followed by Minister for Public Expenditure and Reform Michael McGrath is expected to be ...

Thousands more carers in line to receive allowance in Budget

Thousands more carers are in line to receive the Carer’s Allowance under changes expected to be announced in the Budget tomorrow. It comes as an extra €200m in ...

Numbers on PUP fall below 100,000 for first time

Figures from the Department of Social Protection show that for the first time since the start of Covid-19, the number of people in receipt of the Pandemic Unemployment ...

Construction sector activity slows again in September – Ulster Bank

Construction firms continued to experience strong growth in activity in September, despite the latest Ulster Bank Construction PMI easing for the fourth month in a row. The Ulster ...

Increase in fuel allowance likely to form part of Budget 2022

An increase in the fuel allowance and a widening of the eligibility criteria for the payment are likely to form part of tomorrow’s Budget. The final details will ...

Used car prices surge nearly 50% due to pandemic, Brexit – report

Used car prices are now nearly 50% higher than they were just before the onset of the pandemic in January 2020, according to a new report by online ...

Societal movement to end fossil fuel use needed – SEAI

Chief Executive of the Sustainable Energy Authority of Ireland (SEAI) William Walsh has said it is more essential than ever to accelerate the deployment of energy efficiency and ...

Proposal to increase State pension age by 3 months every year from 2028

The Cabinet this evening discussed a proposal to increase the State pension age by three months every year from 2028. This proposal is part of the report of ...

OECD to announce global corporate tax deal

The Organisation for Economic Cooperation and Development is expected to announce a revised Framework Agreement in Paris today on global corporate tax reform. The deal will see big ...

ESRI forecasts robust economic recovery

The Economic and Social Research Institute (ESRI) has become the latest body to forecast a robust recovery in the economy. In its Quarterly Economic Commentary, published today, the ...

Cabinet set to decide on Ireland’s corporate tax rate

The Cabinet will meet this afternoon to decide whether Ireland should sign up to sweeping global corporation tax reforms that would require the long-standing 12.5% rate to be ...

Labour calls for carbon tax credit for households in Budget 2022

Labour is calling for a carbon tax credit for households in Budget 2022 to address the rising cost of gas and electricity. In its pre-Budget submission the party ...

Revision of draft OECD tax reform plan positive – Martin

Taoiseach Micheál Martin has said the revision of the text of a draft OECD global corporate tax rate reform plan is a positive step. Diplomatic efforts are set ...

Central Bank forecasts rebound in domestic economic activity this year

A stronger than expected recovery is forecast to result in activity in the domestic economy returning to pre-pandemic levels this year, according to the Central Bank. In its ...

Big jump in residential commencements in second quarter

Residential development commencements jumped threefold in the second quarter of the year compared to the same period last year. The figures, compiled by Deloitte, also show a two-fold ...

Minister ‘hopeful’ Government will sign up to OECD corporate tax deal – Ryan

Minister for the Environment, Climate and Communications Eamon Ryan has said he is hopeful and confident that Ireland will “be able to be part of the solution” and ...

Central Bank mortgage measures built up resilience during Covid

Central Bank Deputy Governor Sharon Donnery has said the benefits of the mortgage measures were evident over the past year as the resilience built since their introduction helped ...

Services sector records strongest growth since Q2 2006

The Irish services sector continued to grow rapidly in September, according to AIB’s Purchasing Managers’ Index. It reveals that the pace of expansion remained unchanged from the previous ...

Govt urged to scrap pandemic bonus plan

The Government needs to scrap its plan for frontline pandemic bonus payments and a new bank holiday because it will burden future generations with increased debt, CEO of ...

‘Transformative change’ needed as Govt to sign off on €165bn National Development Plan

The Minister for Public Expenditure and Reform has said the National Development Plan (NDP), which will be announced later today, is the largest public capital investment programme in ...

Donohoe to meet EU’s Vestager on tax issues

Minister for Finance Paschal Donohoe is due to meet with Executive Vice-President of the European Commission and Commissioner for Competition Margrethe Vestager to discuss tax issues today. Mr ...

Manufacturing growth slips to 6-month low – PMI

Growth in factory activity slipped to a six-month low in September but remained close to all-time highs with the sector showing signs of inflationary pressures, a survey showed ...

Water charges to rise for many businesses from today

More than half of businesses will see their cost of water increase from today, as a result of changes to the charging system. The balance of customers will ...

Forecasts doubled for economic growth this year

Forecasts for economic growth this year have been revised significantly upwards by the Department of Finance today. When measured by GDP, the department said the economy is forecast ...

Donohoe wants certainty and stability on corporation tax rates

Minister for Finance Paschal Donohoe has said that Ireland will enter the OECD’s global tax agreement if certainty and stability on corporation tax rates can be assured and ...

Pandemic’s lasting impact will be positive for some – KBC consumer sentiment survey

Almost half of Irish consumers believe the pandemic will have a lasting impact on their circumstances, according to the latest KBC Bank Ireland consumer sentiment index. One third ...

Firms face redundancy bills as payment pause expires

An emergency measure that suspended the right of workers laid off by their employers during the Covid-19 pandemic to receive a redundancy payment will be removed after today. ...

Living Wage group recommends 60c rise to €12.90 an hour

The Living Wage should rise by 60 cents to €12.90 an hour, the group which calculates it has recommended. The increase is being driven by hikes in rents, ...

Minister ‘convinced’ mica scheme can be improved

The Minister for Housing has said that he is “absolutely convinced” that the Mica redress scheme can be improved. Darragh O’Brien will meet with homeowners from Donegal and ...

No changes to Employment Wage Subsidy Scheme for October

Minister for Finance Paschal Donohoe said today that there will be no change to the Employment Wage Subsidy Scheme (EWSS) for October. Paschal Donohoe said this means the ...

Tánaiste and US trade representative discuss corporate tax, Good Friday Agreement

Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar has met United States Trade Representative Katherine Tai in Washington. According to a statement released by Ambassador Tai’s ...

More than 100,000 properties to become liable for LPT in November

More than 100,000 new and previously exempt properties, most of which were built after May 2013, will be brought into the tax bracket and become liable for Local ...

20% of SMEs applied for bank credit – Credit Demand Survey

The results of the latest SME Credit Demand Survey shows that 20% of small and medium sized businesses applied for bank credit between October 2020 and March 2021. ...

Consumer confidence steady, but business sentiment slips in September

Bank of Ireland said its latest Economic Pulse suggests that households and firms have taken the Government’s latest re-opening roadmap in their stride. The bank said that with ...

Asking prices for homes rose 9% in third quarter, but rate eases

Asking prices for homes in the third quarter were up 9% across the country compared to the same period last year, according to two separate reports by property ...

Bank of Ireland’s CFO to step down, lender blames pay cap

 Bank of Ireland has blamed state-imposed curbs on bankers’ pay and bonuses for the announcement that its chief financial officer Myles O’Grady would leave the bank for a ...

Almost €1.2 billion worth of mortgages approved in August – BPFI

New figures from Banking and Payments Federation Ireland show that mortgage approvals fell by 9.2% in August following a record high in July. But mortgage approvals continued to ...

Tánaiste confident of pension, tax and welfare packages in Budget 2022

The Tánaiste has told business leaders that he is confident that the Government is in a position to include a pension, welfare and personal income tax package in ...

Tánaiste signals increase in minimum wage in coming year

Tánaiste Leo Varadkar has told the Dáil that there will be an increase in the minimum wage in the coming year. Mr Varadkar said there would be pay ...

British Irish Chamber calls for ‘Shared Islands Fund’ to reboot UK-Ireland economic relationship

The British-Irish Chamber of Commerce has called for the establishment of a “Shared Island Fund” to help boost the economic relationship between Ireland and the UK post-Brexit. In ...

One third of business leaders say Covid has changed required skills sets

Nearly a third of business leaders say the requisite skills and experience on the board of their organisation have changed during the Covid-19 pandemic. This is according to ...

Donohoe and Yellen hold ‘constructive’ corporate tax talks

Minister for Finance Paschal Donohoe has spoken with the US Treasury Secretary Janet Yellen about the current OECD process that aims to reform global corporation tax rules. Mr ...

More work needed on insurance, legal competition issues – NCPC

Issues around the cost of insurance, legal services and credit have not received the urgent attention required to support competitiveness and productivity. That is according to the state’s ...

Continued support needed for tourism sector – minister

The tourism sector will not be “healed overnight” and will continue to need support as recovery continues, Minister Catherine Martin has said. Minister Martin was speaking at an ...

Taxing times for Government as corporation tax decision looms large

When Paschal Donohoe gets to his feet on October 12th to deliver the Budget, watch out if his speech contains a key line. Last year he said: “…I ...

Advantages of remote working should not be lost – Forsa

The largest public service union here will begin negotiations with the Government later this week on the future for working – post pandemic. The head of communications of ...

Govt in ‘constructive’ talks with OECD on corporation tax

The Government are engaging in “constructive” discussions with the Organisation for Cooperation and Development on corporation tax, the Taoiseach has said. Earlier this year the OECD said that ...

Government to help those struggling with increasing fuel bills – Ryan

Minister for the Environment, Climate and Communications Eamon Ryan has said the Government will have to look at similar and potentially larger measures in this year’s Budget to ...

EU Economy Commissioner confident Ireland will sign up to new tax deal

The EU’s Economy Commissioner has said he is confident there is “a chance to find a shared way” that would see Ireland sign up to a global tax ...

Thousands begin return to office as Covid-19 measures ease

Tens of thousands of workers across the country will begin returning to their offices and places of work from today, as Covid-19 restrictions ease further. Rules around organised ...

Public services a priority in Budget 2022 – McGrath

Minister for Public Expenditure Michael McGrath has said there will be a number of key objectives in framing Budget 2022. Speaking on RTÉ’s This Week programme, Mr McGrath ...

Staff shortages affecting hospitality industry

Hospitality was one of the industries worst affected by the Covid crisis, or to put it in the words of Adrian Cummins of the Restaurant Association of Ireland, ...

Consultation launched to strengthen rights of employees

A new consultation has been launched on strengthening the rights of employees in Ireland. Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar is seeking views on ...

State will spend €41bn on pandemic supports, report finds

The State will end up spending €41 billion on pandemic supports, according to a paper from the Tax Strategy Group. The paper also says future changes to the ...

Family businesses plan to hire more staff

Family run businesses employ nearly 1 million people in Ireland – and collectively are one of the biggest employers in the country. The National Family Business Sentiment Report ...

11% of investors hold crypto-assets, including Bitcoin

Most investors are ‘going digital’, with new research revealing that 56% of those surveyed make investments online. The survey commissioned by the Competition & Consumer Protection Commission (CCPC) ...

Property price growth hits 3 year high of 8.6% – CSO

Residential property prices rose on an annual basis by 8.6% – the fastest annual pace in three years – in July, according to the latest figures from the ...

Govt debt could end up on ‘unsustainable path’ – IFAC

The Irish Fiscal Advisory Council has said the economy is recovering ‘swiftly’ but government spending plans for the upcoming Budget are “at the limit of what is prudent”. ...

Central Bank has not approved shared equity scheme despite Minister’s claim

Earlier this month, Housing Minister Darragh O’Brien told Prime Time that the Government’s proposed shared equity scheme, a core part of the recently published Housing For All plan, ...

Fund approval will see Credit Unions investing in social housing

The Central Bank has approved a new fund that will facilitate credit unions to get involved in the delivery of social and affordable housing around the country. The ...

Govt should abandon plans for tax cuts in upcoming Budget – ICTU

The Irish Congress of Trade Unions (ICTU) has said the Government should abandon its plans for tax cuts in the upcoming Budget and instead prioritise increases in public ...

College students struggling to pay living expenses, survey finds

Nearly half of all college students say they struggle to afford living expenses, according to a survey carried out by the Irish League of Credit Unions (ILCU) and ...

Ireland to reach pre-pandemic employment levels by 2023, Donohoe says

The Minister for Finance has said that forecasts now indicate the country will get back to pre-pandemic levels of employment and broader economic performance by around 2023, but ...

Construction firms see further sharp rises in activity – Ulster Bank PMI

The construction sector reported another month of rapid growth in August, the latest Ulster Bank Construction Purchasing Managers Index shows, as it continued to benefit from improvements in ...

Economy performing ahead of expectations – Varadkar

Tánaiste and Minister for Enterprise Leo Varadkar said today that the economy is “actually ahead of where we thought we would be”. Mr Varadkar said he still believes ...

Are consumer prices going to keep on rising?

No sooner had the first Covid-19 vaccine jabs been administered when talk turned to the risk of price inflation accompanying an impending recovery in economies globally from the ...

Irish shoppers increase use of electronic payments

Irish consumers’ use of online and mobile payment methods has continued to increase despite the easing of restrictions on physical retail, according to Banking and Payments Federation Ireland. ...

Inflation rate rises to near ten-year high in August – CSO

The annual rate of inflation rose by 2.8% in August, its biggest increase in almost ten years. The latest figures from the Central Statistics Office show higher fuel ...

ECB trims emergency support, but insists ‘no tapering’

The European Central Bank has today raised its forecast for economic growth in 2021, as the euro zone recovery gathers pace following the easing of many pandemic curbs. ...

Gender gap in graduates’ pay expectations – survey

Female students have lower salary expectations than their male counterparts across a number of sectors, according to research by Universum, which is part of IrishJobs.ie. The study found ...

Economy to return to pre-Covid levels early next year – NTMA CEO

The chief executive of the National Treasury Management Agency, Conor O’Kelly, has told an audience of investors that the economy is set to return to pre-pandemic levels of ...

No changes to Budget framework despite better tax receipts – Donohoe

The Minister for Finance has said he is not looking at making any further changes to the framework for October’s budget beyond what was set out in the ...

1 in 5 SMEs expect to pass on higher costs

Over a fifth of SMEs expect to pass higher prices on to their customers as a result of inflationary pressures, according to a survey of SMEs by the ...

Govt delays PUP move to Jobseekers payments to October

The Government has said that no recipients of the Pandemic Unemployment Payment (PUP) will be transitioned to Jobseeker payments before October 22. It had planned to move recipients ...

Euro zone growth revised up as consumer spending rebounds

The euro zone economy grew by more than initially forecast in the second quarter of the year, revised data from the EU’s statistics office showed. Today’s figures showed ...

ISIF makes €450m gain in H1 as it plans green investment

Ireland’s €9.2 billion sovereign investment fund has almost doubled its total investment gains in eighteen months. The Ireland Strategic Investment Fund – which has a mandate to invest ...

New Covid scheme for business opens to applicants

A new targeted Government funded support scheme, aimed at assisting vulnerable but viable businesses whose earnings have collapsed due to Covid-19 restrictions, has opened for applications. Under the ...

Covid costs Ireland’s tourism sector an estimated €13.4bn

The Covid-19 pandemic has cost the tourism sector here €13.4bn and 100,000 jobs have been lost as a result, a new report claims. The study by the Irish ...

European banks still booking profits in tax havens – report

Top banks in Europe continue to use tax havens to book chunks of profits, a trend that has changed little since 2014 despite country-by-country disclosures becoming mandatory, the ...

First EI in-person Enterprise Ireland trade mission since pandemic onset

Enterprise Ireland’s first in-person trade mission since the onset of the Covid pandemic starts today in London, before moving on to Paris and Berlin. The three day mission ...

Call for €10 rise in core social welfare rates in budget

An increase of €10 per week in core social welfare rates, enhancing the support grant for carers and a single rate state pension are among the measures being ...

Campaign under way to tackle hospitality labour shortage

Fáilte Ireland is launching a campaign aimed at attracting workers into the tourism and hospitality industry. The recruitment marketing and awareness campaign is targetted at both jobseekers and ...

Services sector continues to grow, expansion rate slows

The Irish services sector continued to grow strongly in August, according to AIB’s Purchasing Managers’ Index. The monthly measure of activity in the sector shows further rapid increases ...

Quarterly GDP up 6.3% in second quarter as Covid curbs ease

New figures from the Central Statistics Office show that the economy – as measured by Gross Domestic Product – grew by 6.3% in the second quarter of 2021 ...

Govt to launch multi-billion euro housing strategy

The Government will today launch its housing plan titled Housing for All, with the multi-billion euro strategy set to detail guaranteed spending plans for the next five years. ...

Higher debt and deficits increase risks to the economy – Governor

The Governor of the Central Bank has warned that higher debt and deficit projections out to the middle of the decade increase the risks to the public finances ...

Jobless rate including Covid-19 payouts falls to 12.4% – CSO

The unemployment rate, when adjusted to include those on the Pandemic Unemployment Payment, stood at 12.4% in August. The latest release from the Central Statistics Office shows the ...

Manufacturing loses momentum as bottlenecks constrain output

Irish factory activity lost some momentum in August with growth in output, new orders, exports and purchasing all lower than the previous month, a survey showed today. The ...

Broad welcome from business groups for reopening update

There’s been a general welcome for the measures announced by the Taoiseach about the next phase of reopening of the economy and society. Business group Ibec said the ...

Calls for continued supports for hotels and restaurants

The Restaurants Association gave a cautious welcome to the Taoiseach’s announcement on the easing of Covid restrictions. Chief executive Adrian Cummins said the measures went a long way ...

State further reduces stake in Bank of Ireland

The Government has reduced its stake in Bank of Ireland by a percentage point. In a statement to the stock exchange, Bank of Ireland said the percentage of ...

Sinn Féin leader says ‘build to rent’ scheme would worsen housing crisis

Sinn Fein leader, Mary Lou McDonald TD has stated that if planning is approved for the 1,614 ‘build to rent’ apartments on the grounds of Clonliffe College in ...

Euro zone economic sentiment eases in August

Euro zone economic sentiment eased more than expected in August from a record high in July, hit by a sharp drop in optimism in France and the Netherlands, ...

Consumer confidence rises but business sentiment slips – Bank of Ireland

Bank of Ireland’s latest Economic Pulse shows that consumer confidence rose in August but business sentiment slipped. Bank of Ireland said the Consumer Pulse was in catch-up mode ...

People may be more conservative in how they use Covid savings – research

People are adopting a more conservative approach to using savings build up during the Covid-19 pandemic than anticipated, new research from Permanent TSB Bank and research company Kantar ...

Government now faces tricky dilemma on PUP wind-down

When the history of Ireland’s handling of the pandemic is written in years to come, the economic impact and the response of the Government to it will be ...

People waiting for right opportunity to get new job – Indeed

Around three in ten workers surveyed by recruitment website Indeed said they were open to new employment opportunities but are not actively looking. The survey showed that 7% ...

Value of mortgage approvals at a ten-year high in July – BPFI

Just over 53,500 mortgages to the value of almost €13.2 billion were approved in Ireland in the 12 months to the end of July, according to Banking and ...

Faulty goods and services top CCPC query list

Issues relating to faulty goods and services topped the list of queries to the Competition and Consumer Protection Commission in the first six months of this year. There ...

Cyberattacks on the rise over last year – survey

90% of Irish IT security experts say they have seen a rise in disruptive cyberattacks in the last year, a new survey has found. The study also found ...

Rise in consumer confidence here in August not repeated elsewhere

Irish consumer sentiment improved marginally in August while confidence dipped in the US, UK and euro area. The latest consumer sentiment index from KBC Bank Ireland increased to ...

Marginal increase in commercial vacancy rate in second quarter of 2021

The vacancy rate in commercial properties around Ireland remained relatively steady in the second quarter of 2021. According to the latest GeoView Commercial Vacancy Rates Report from EY ...

Number of PUP recipients falls below 150,000 for first time

The number of people due to receive the Pandemic Unemployment Payment (PUP) this week has fallen by less than 4,000 when compared to last week. 149,436 will get ...

Ibec calls for more autonomy in reopening road map

The chief executive of Ibec has told the Government it is vital that the next road map to reopening the economy is less prescriptive in nature than previously. ...

Do we really want to return to our old ways of working?

Opinion: the way we work has implications for our psychological well-being and social relationships within and beyond the workplace After 18 months of living with Covid-19, this autumn ...

80% of retailers in rent arrears with landlord – Retail Excellence

80% of retailers are in rent arrears with at least one landlord, a new survey by industry representative body Retail Excellence has revealed. The research also found that ...

Health insurance, pensions among benefits workers want

Health insurance, pensions and paid sick leave are among the top benefits sought by employees from their employers, new research has revealed. However, the provision of support for ...

Grocery market declines by 3.9% as indoor dining resumes – Kantar

The Irish grocery market declined by 3.9% during the 12 weeks to August 8, as life continued to edge back to normal and indoor dining in restaurants, pubs ...

ECB still more worried about inflation being too low – Schnabel

This year’s surge in inflation in the euro zone is still seen as temporary, even if prices continue to rise from already high levels, European Central Bank board ...

AIB paving way for social bonds

AIB is preparing for the issuance of a Social Bond which it says will go towards financing community programmes across the country. The bank has launched a Social ...

Pensions gap widens as pandemic deepens the divide

Psychologists say we have very little appreciation or concept of ourselves in the future. In other words, our future selves are strangers to each of us. This lack ...

Govt needs to strengthen role of CCPC, says SF’s Doherty

Sinn Féin’s finance spokesperson, Pearse Doherty, said the Government needs to strengthen the hand of the Competition and Consumer Protection Commission (CCPC) and bring forward legislation to allow ...

Motor insurers to introduce new compliance measures

Six motor insurance companies have signed legally binding agreements to reform their internal competition law compliance programmes, following an investigation by the Competition and Consumer Protection Commission. However, ...

‘Real opportunity’ to make blended working part of life, says Varadkar

A new report on the right to request remote work has been published with the Tánaiste saying: “We have a real opportunity now to make remote and blended ...

Business leaders feeling more optimistic about economy

Almost two thirds of business leaders are feeling optimistic about the Irish economy, more than twice the level recorded at the start of the year. According to a ...

Vaccine status issue may delay some offices reopening survey finds

Legal restrictions that prevent employers from finding out the coronavirus vaccine status of employees risk delaying the re-opening of offices and are costing businesses money, new research has ...

Most consumers expect house prices to continue rising

70% of Irish consumers expect house prices to rise over the next three years, according to a new survey by KBC Bank Ireland. Just 12% said they expect ...

4,400 PUP recipients closed claims this week

Just over 153,000 people received the Pandemic Unemployment Payment this week, according to figures from the Department of Social Protection. Around 4,400 PUP recipients closed their claims in ...

Govt approves legislation to establish Corporate Enforcement Authority

The Government has approved the publication of the Companies Bill 2021, which will transform the Office of the Director of Corporate Enforcement into a statutory and independent agency ...

The language barrier in the workplace

Over 60% of non-native English speakers working in Ireland say they need to work harder than their Irish peers to progress in the workplace, according to research published ...

Affordability sustains harmful use of alcohol – Alcohol Action Ireland

An alcohol price survey by Alcohol Action Ireland confirms “the exceptional affordability of alcohol to every day shoppers” and reaffirms the necessity for the commencement of minimum pricing ...

Imports from NI jump sharply since Brexit – CSO

The total value of imports from Northern Ireland into the Republic jumped by more than three quarters in the first six months since Brexit compared to the same ...

Outbreaks occurring in workplaces and at social gatherings – HSE

More than 100 Covid outbreaks are occurring each week, most of which are happening at social gatherings and in workplaces, the National Lead for Testing and Tracing at ...

Concerns at increasing demands on electricity grid

Ireland’s electricity grid is facing an increased prospect of blackouts this winter as emergency plans to import power generators have stalled, a professor of energy engineering at University ...

Euro zone bond yields edge down as global sentiment turns south

Borrowing costs in Germany, the euro zone’s benchmark bond issuer, dipped on Monday to their lowest level in over a week as latest data from the world’s biggest ...

House price rises – is there any let up in sight?

At the onset of the pandemic last year, the property market went into hibernation and there were forecasts of prices falling, possibly by up to 12%. How wrong ...

Price of homes up over 95% from low point in 2013 – CSO

Residential property prices rose again in June, according to the latest figures from the Central Statistics Office. The price of houses and apartments nationally rose by 6.9% in ...

Consumer price inflation breached 2% in July – CSO

Consumer prices in July were 2.2% higher than they were in the same month last year, according to the Central Statistics Office. It is the first time in ...

50,000 housing units needed every year to meet demand – report

Close to 50,000 housing units would have to be built here every year for the coming decades in order to keep up with demand. That’s according to a ...

Record number of daily contactless payments in June

2.4 million contactless payments were made every day in June of this year, the highest daily figure on record. New data from the Banking and Payments Federation Ireland ...

Fixed rates account for bulk of new mortgage arrangements here

Lenders in the Irish market continued to charge among the highest interest rates on mortgages in June. According to figures from the Central Bank, the average rate on ...

Household net worth hits new high, savings increase

Irish household net worth reached a record high of €883bn in the first quarter of this year due to an increase in savings and deposits, according to new ...

Weekly PUP numbers down again ahead of phased payment reduction next month

The number of people in receipt of the Pandemic Unemployment Payment this week stood at 157,712 – a drop of around 5,700 on last week. The Department of ...

Home care sector facing ‘urgent’ recruitment shortage

A group representing the home care sector has said it is facing a recruitment crisis and has called on the Government to allow for the hiring of workers ...

Record amount of corporation tax collected last year

The high proportion of tax revenue coming from corporation tax represents “a significant risk to the public finances,” according to a report published by the Department of Finance ...

Scarce housing supply highlighted as average rents rise

Average rents for residential properties rose by 5.6% nationally between April and June, according to the latest quarterly rental report from the website Daft.ie. The report shows rents ...

Covid adjusted jobless rate falls to pandemic-low of 13.5%

The monthly unemployment rate in July was 6.5%, according to the latest figures from the Central Statistics Office. When those on the Pandemic Unemployment Payment are included, the ...

Over €30bn spent on social welfare payments last year

€30.6 billion was spent on social welfare payments last year, an increase of 46% compared to 2019 – according to new figures from the Department of Social Protection. ...

Construction activity increased again in July, inflation hits record high

There was a substantial increase in construction activity once again in July, according to the latest Construction Purchasing Manager’s Index (PMI) from Ulster Bank. While the index which ...

Most employees have not declared tax on employer shares

74% of employees who hold shares through their employer have not declared the tax they owe, according to a new survey by Taxback.com. The survey asked over 1,500 ...

Three quarters of all businesses now operational – InterTradeIreland

Most companies on both sides of the border are firmly in recovery mode as Covid-19 restrictions ease, according to InterTradeIreland’s latest quarterly business monitor. Three quarters of all ...

Post-pandemic path to global economic health in sight

Financial and health imperative will be to invest in vaccinating the entire world The northern hemisphere is sweating through a second long summer of Covid-19. As the Delta ...

Updates to hospitality guidelines on outdoor events being discussed

The Cabinet sub-committee on Covid-19 will meet today when it is expected to discuss updates to hospitality industry guidelines on outdoor events. It follows questions raised over an ...

Inflationary pressures impact food and drink sector

Irish food and drink businesses are experiencing inflationary pressures across most cost headings, according to Food Drink Ireland (FDI) the Ibec group representing the food and drink sector. ...

Irish services sector expands at fastest rate in more than 20 years

Inflationary pressures evident in latest purchasing managers’ index data from AIB Irish service sector companies reported the strongest month-on-month growth in business activity in July since August 2000 ...

Nightlife sector criticises ‘inadequate’ Covid response by Govt

A group representing workers in the nightlife sector has criticised the Government’s response to its reopening, warning that a continued shutdown will result in an upsurge of unregulated ...

AIB extending negative rates to all deposits over €1m from October

The chief executive of AIB has confirmed that the bank will be extending negative interest rates to all customers with deposits in excess of €1 million from later ...

Strong growth in business activity – AIB PMI

Irish service sector companies reported the strongest growth in business activity since August 2000 in July, according to the latest AIB PMI survey. New business expanded at the ...

Minister starts process of selling State stake in Bank of Ireland

The Minister for Finance has started the process of selling the State’s shareholding in Bank of Ireland. According to a filing at the London Stock Exchange, the Government’s ...

Number on PUP at lowest level since pandemic began

The number of people in receipt of the Pandemic Unemployment Payment is just under 163,400 this week – the lowest level since the pandemic began. The number receiving ...

Bank of Ireland reports strong recovery in H1

Bank of Ireland is reporting a strong recovery in its business performance with a €465 million underlying profit before tax, according to the bank’s interim results for the ...

Manufacturing sector maintains rapid growth in July but cost pressure remain

The manufacturing sector continued to grow at a rapid pace in July, albeit at a slower rate than the previous two months. According to AIB’s latest monthly check ...

Used cars holding value and may even be appreciating – DoneDeal

Used cars in Ireland are now holding their value better than any time in the recent past, DoneDeal claims in its latest Car Price Index. The car website ...

In-store spending on credit and debit cards jumps in June – Central Bank

There was a fall in online spending as consumers returned to shops and spent more on their credit and debit cards in-store in June, according to statistics from ...

Construction sector bounces back in second quarter – CSO

The construction sector bounced back in the second three months of this year with the lifting of Covid-19 restrictions, according to the Central Statistics Office. The completion of ...

Over 1,000 complaints to FSO were pandemic related with business interruption insurance dominating

The Financial Services Ombudsman said his office had to date received 1,051 complaints arising from the circumstances surrounding the Covid-19 pandemic. 180 of them related to business interruption ...

Best first half for .ie domain registrations – report

A total of 33,815 new .ie domains were registered in the first six months of 2021, according to the latest .IE Domain Profile Report. That was up 1.6% ...

NAMA made €20m profit in first three months of 2021

The National Asset Management Agency recorded a €20m profit in the three months to the end of March, according to accounts submitted to the Oireachtas. The State body ...

Retail sales rose 3.3% in June, CSO figures show

Retail sales volumes grew 3.3% in June compared to the previous month after restaurants and bars were allowed to serve customers outdoors for the first time this year. ...

Numbers receiving PUP at lowest level since payment was introduced

The number of people receiving the Pandemic Unemployment Payment (PUP) is now at its lowest level since the introduction of the Government support in March 2020. There will ...

Co-operative housing delivers record 454 homes in 2020

The national organisation promoting and developing co-operative housing in Ireland said it delivered 454 homes last year, despite the challenges posed by Covid-19. Co-operative Housing Ireland said that ...

Banker accountability rules may take further 18 months, Donohoe says

Regime will require firms to set out who makes decisions and where responsibility lies It may be a further 18 months before long-planned new rules are in place ...

Personal injuries claims numbers see big fall – PIAB

The number of claims made to the Personal Injuries Assessment Board decreased last year, mainly as a result of the Covid-19 pandemic, while there was also a reduction ...

Mortgage approvals and drawdowns continue to rise

The number of mortgages being approved and drawn down continue to rise, according to the latest figures from Banking and Payment Federation Ireland. In the month of June, ...

75% of home building fund committed to projects

Loan approvals by Home Building Finance Ireland – the Government initiative set up to fund the delivery of new homes – amounted to €539m by the end of ...

Contact tracing change to indoor dining regulations – RAI

Indoor dining in restaurants and cafes resumes today for the first time since last December, with many pubs not having opened their doors since March last year when ...

Consumer and business sentiment down slightly in July but still above pre-pandemic level

Consumer and business sentiment, as measured by Bank of Ireland’s Economic Pulse, dipped slightly in July but was well up on the situation a year ago. At 89.3, ...

5 things you need to know as indoor hospitality reopens

Restaurants, cafés and bars can reopen their doors for indoor eating and drinking today, operating under strict new public health regulations. Operational guidelines for the hospitality industry were ...

Permanent TSB agrees potential deal for Ulster Bank loans

Shares in Permanent TSB soared over 15% today after it announced a potential deal worth about €7.6 billion to buy some elements of Ulster Bank’s business here. The ...

Final meetings on indoor dining rules

Final meetings to agree the legal rules for indoor dining will take place this morning. It is hoped the regulations will be published later today followed by the ...

Consumer confidence dips marginally from June’s high

Irish consumer confidence dipped marginally in July from the two year high recorded in June, according to the latest consumer sentiment index from KBC Bank Ireland. A still ...

Guidelines on indoor dining to be outlined

Government guidelines on how indoor hospitality will operate from Monday are due to be published shortly. The new measures will allow those who are vaccinated against Covid-19, or ...

Central Bank seeks to end loyalty penalty for car and home insurance customers

The Central Bank has recommended a ban on home and motor insurance customers being charged a loyalty penalty the longer they remain with an insurance provider, a practice ...

PUP numbers at lowest level since March 2020

New figures from the Department of Social Protection show that the number of people getting the Pandemic Unemployment Payment are at the lowest level since early March 2020. ...

Covid spending to top €30 billion by end of year

Minister for Public Expenditure and Reform Michael McGrath will tell his Government colleagues this morning that Covid spending over a 22 month period to the end of this ...

No time limits on indoor dining under reopening plans

There will not be any time limits for those allowed to eat and drink inside pubs and restaurants under guidelines agreed with the hospitality sector this evening. Closing ...

EU to set up anti money-laundering agency

The EU is to set up a stand-alone agency to crack down on money laundering across Europe where major banks have been hit by a wave of dirty ...

Talks on reopening indoor dining for fully vaccinated

Representatives from the restaurant and bar sector will this evening meet with Government officials as work continues on guidelines ahead of the anticipated reopening of indoor hospitality next ...

New stamp duty rules for bulk investors signed into law

President Michael D Higgins has signed into law measures that will allow for the taxation of institutional investors who buy homes in bulk. In a bid to clamp ...

Govt approves drafting of bill to cap moneylender rates

The Government has approved the drafting of a bill which will introduce a cap on the interest rates that moneylenders can charge. The legislation proposes two rate caps, ...

Euro zone bond yields fall ahead of ECB policy meeting

Euro zone government bond yields fell on Monday ahead of Thursday’s policy meeting of the European Central Bank (ECB), while concerns about the Delta variant of the coronavirus ...

Rise in new companies registered in first half of year

Almost 14,000 new companies were registered in Ireland in the first half of the year, up 42% on the same period in 2020 – according to CRIF Vision ...

A heatwave hits the economy

It’s not just temperatures which have shot up this week. The Central Statistics Office (CSO) confirmed that the economy, or at least parts of it, is going through ...

Concern at Govt plans to run deficit of almost 3%

The Chairman of the Irish Fiscal Advisory Council has expressed concern at the Government plans to run a deficit of almost 3%, which would result in a modest ...

Consumers feel safer going to restaurants, survey shows

Consumers now feel safer going to restaurants, hotels and attending in-person events, according to a new survey from Deloitte. Their monthly ‘Consumer Tracker’ survey tracks Irish consumers’ attitudes ...

Appetite for saving money declines as economic reopening gather pace

There are indications in Bank of Ireland’s latest Savings and Investment Index that appetite for saving money is declining as the economy continues to gradually reopen. In May ...

Donohoe ‘committed’ to retaining low corporate tax rate

Minister for Finance Paschal Donohoe has said he is “so committed” to retaining Ireland’s low corporate tax rate that he is not willing to sign up to a ...

Two thirds of parents struggle with back to school costs

Almost two thirds of parents surveyed by the Irish League of Credit Unions for its annual back to school survey say that covering the cost of sending a ...

Banks spend €3bn on delivering digital services – BPFI

Retail banks here have collectively spent over €3 billion in the past five years on delivering new digital services for customers, according to the Banking & Payments Federation ...

Insurance report shows wide disparity in legal costs

The Central Bank has published data on employers’ liability, public liability and commercial property insurance for the first time. The information will form part of the National Claims ...

26% of small landlords plan to leave rental market

Half of tenants surveyed by the Residential Tenancies Board say they are spending more than 30% of their net income on rent, with 20% of tenants in Dublin ...

Central Bank urges action on long term mortgage arrears

The Central Bank has said more action is needed from mortgage lenders to deal with long term mortgage arrears. Deputy Governor Ed Sibley said there are wider issues ...

Taoiseach says public must ‘buy into’ hospitality rules

The Taoiseach has said compliance with new rules around indoor dining is something that public will have to “buy into”. His comments come ahead of a meeting between ...

IDA Ireland says investments close to 2019 levels

Foreign direct investments into the country during the first half to the year returned to levels close to those seen at the end of 2019, IDA Ireland said ...

Central Bank says risks of market abuse have risen

The Central Bank has said ‘significant improvements’ are needed in how regulated financial firms comply with Market Abuse Regulations. The Market Abuse Regulations are rules governing how information, ...

Construction activity increased again in June – Ulster Bank PMI

Construction activity increased for the second month in a row following the full reopening of the sector, and at one of the strongest rates since the survey began. ...

Cabinet to sign off on plans for reopening indoor hospitality

The Cabinet will sign off on plans this afternoon to reopen indoor hospitality in bars and restaurants, RTÉ News has learned. The incorporeal meeting follows detailed discussions between ...

Govt aims to get 75,000 back to work under new strategy

The Government is aiming to get 75,000 long-term unemployed people back to work within two years as part of its Pathways to Work Strategy. The plan, which will ...

Tax reform tops agenda as G20 finance chiefs meet

Finance ministers and central bankers from the group of 20 rich countries are to meet face-to-face for the first time since the start of the Covid-19 pandemic at ...

Indoor dining legislation to go before Dáil next week

A bill to amend the 1947 Public Health Act to allow vaccinated people eat and drink inside bars and restaurants is being worked on. The legislation is set ...

Higher utility bills and transport costs drive inflation higher – CSO

Consumer prices rose by 1.6% in June on an annual basis on the back of higher electricity, gas and transport prices, new figures from Central Statistics Office show ...

ECB to announce revamped inflation target, climate role

The European Central Bank will today announce the outcome of an 18-month strategy review, redefining a inflation target seen by some as confusing and laying down what role ...

Hospitality talks to focus on use of EU Digital Certs

Representatives of the hospitality sector and senior Government officials will meet later today to assess how restaurants and pubs could reopen for indoor hospitality later this month. It ...

European Commission raises Irish GDP growth forecasts

The European Commission has revised upwards the country’s GDP growth projections to 7.2% for this year after a stronger than expected economic performance in the first quarter of ...

Over 2.2 million contactless payments made a day in May – BPFI

Over 2.2 million contactless payments were made every day in May, new figures from Banking and Payments Federation Ireland show today. BPFI said this marked the highest daily ...

PUP scheme to close to new entrants from tomorrow

Today is the last day that people can apply to receive the Pandemic Unemployment Payment, with the scheme shut to new entrants from tomorrow onwards. It was due ...

Varadkar expects reduction in insurance premiums ‘soon’

Tánaiste Leo Varadkar has said he expects insurance premiums will be reduced “quite soon” after preliminary data from the Personal Injuries Assessment Board suggested the average award has ...

Average personal injury award down 50%, report suggests

Preliminary data from the Personal Injuries Assessment Board suggests that the average award has decreased by around 50%. The information is contained in the first implementation report of ...

Indoor dining could resume under self-regulated system, hospitality sector told

Hospitality representatives were told today that indoor dining could reopen for 1.8 million fully vaccinated people with a self-regulated vaccine pass system. A document or email proving vaccination ...

Workplace deaths rose 13% last year, says HSA

New figures from the Health and Safety Authority (HSA) show that the number of people who died in work-related incidents last year rose 13% to 53, despite many ...

Government to begin talks with hospitality on indoor dining

Talks between the hospitality industry and Government representatives to find a way of allowing indoor hospitality to resume will get under way later. Indoor drinking and dining in ...

Services growth hits five year high, but cost pressures mount

Growth in activity in the services sector increased further in June but cost pressures continued to intensify for firms with input price inflation hitting its highest level since ...

Is Ireland’s 12.5% Corporation tax rate toast?

Thursday saw the OECD forge a landmark deal to reform the global corporation tax system. Brokered among 130 countries and jurisdictions, the accord aims to modernise and stabilise ...

Ireland not among 130 countries to back global corporation tax reform deal

The Organisation for Cooperation and Development (OECD) has said that 130 countries and jurisdictions have signed up to a plan that will bring sweeping new reforms to global ...

Donohoe to oversee review of banking sector

The Minister for Finance has told the Dáil that he will oversee “a broad-ranging review” of the banking sector. Paschal Donohoe said the review will consider “possible gaps ...

Ibec warns reopening delay could damage wider economic recovery

The chief executive of the employers’ group Ibec has warned that a lack of clarity on plans for a further reopening of the economy could materially impact the ...

Central Bank says time for ‘credible’ plan for public finances

The Central Bank has upgraded its forecasts for growth in the economy in its latest quarterly bulletin. It has also said that any decision to permanently increase spending ...

Demand for new homes has never been stronger – Cairn Homes

Homebuilder Cairn has reported revenues of €131m for the first half of this year after it closed 403 new home sales. In a trading update for the six ...

New measures to see rent increases linked to inflation

The Government has approved measures which will see rent increases linked to general inflation and an extension of rent pressure zones to the end of 2024. Minister for ...

Hospitality representatives to hold talks with Govt ministers

Representatives from the hospitality industry are due to hold talks with Tánaiste Leo Varadkar, Minister for Health Stephen Donnelly and Minister for Tourism Catherine Martin. The Hospitality Forum, ...

6 things businesses learned from today’s announcement

The Government’s decision to delay the reopening of indoor hospitality has been met with an almost exclusively negative reaction from businesses and representative bodies. Today’s announcement did give ...

Numbers claiming PUP down 16,000, Govt extends support

The number of people receiving the Pandemic Unemployment Payment has fallen to 227,982, a decrease of 16,215 over the last seven days. The Department of Social Protection said ...

McConalogue says new CAP deal is ‘balanced’

Minister for Agriculture Charlie McConalogue has said the new Common Agricultural Policy (CAP) deal that was signed off on by Agriculture Ministers across the EU is “a balanced ...

Mortgage approvals up in May, driven by first-time buyers

New figures show the number of mortgages approved in May rose by 7.4% compared to the previous month, and were up almost 150% compared to the same time ...

Level of spending during Covid-19 crisis not sustainable – Martin

The Taoiseach has said the level of spending by the Government during the Covid-19 pandemic, is “not sustainable” and must “move to the next stage”. Micheál Martin made ...

Economy to grow 6.5% this year driven by exports, says Ibec

Employers’ group Ibec has forecast that the economy in Ireland will grow 6.5% this year driven in the main by strong exports. However, in its latest Quarterly Economic ...

House prices rising at much faster rate outside Dublin

Asking prices for houses nationally jumped 13% in the second quarter of the year compared to the same period last year, according to two separate reports by property ...

NPHET to meet over advice on July reopening

The National Public Health Emergency Team is to meet on Monday to consider its advice to Government on whether or not to further ease Covid-19 restrictions from 5 ...

Restauranteurs seek meeting with Govt on reopening plan

The Chief Executive of the Restaurants Association of Ireland has said that he has called for an urgent meeting with the Government to discuss speculation around a pause ...

26% planning a holiday abroad for September, survey reveals

Over a quarter of Irish people are planning a holiday abroad for September, while 22% are planning an overseas trip for October, according to a survey by online ...

Over 200,000 housing units need to be built over next 3 years – Davy

Over 200,000 housing units will need to be built in Ireland over the next three years, according to a new report from Davy. Its chief economist Conall MacCoille ...

ESRI predicting over 11% growth in economy this year

The Economic and Social Research Institute is forecasting double-digit growth in the economy this year. In its latest Quarterly Survey, the ESRI predicts the economy will grow by ...

The risks of climate change to the economy

The Central Bank’s Financial Stability Review (FSR) is, as the title suggests, one of its big tome publications published twice a year, which goes into great detail on ...

PAC calls for independent investigation into ‘bogus self-employment’

The Dáil’s Public Accounts Committee (PAC) has called on Revenue to commission an independent investigation into the self-employment status of some couriers. In a report to be published ...

Euro zone business growth at 15-year high as demand unleashed – PMI

Euro zone business growth accelerated at its fastest pace in 15 years this month as the easing of more lockdown measures and the unleashing of pent-up demand drove ...

Trust in news media increased over past year, report finds

RTÉ is the most trusted news source for Irish consumers, according to the annual Reuters Digital News Report, with 78% of respondents saying they trusted the service. Overall, ...

Numbers claiming PUP at lowest level since last October

The number of people receiving the Pandemic Unemployment Payment has dropped below 250,000 for the first time this year, new figures from the Department of Social Protection show. ...

Consumer confidence at a two year high – KBC

Consumer confidence is at a two year high, according to the latest KBC Bank Ireland consumer sentiment index. While the monthly reading of 87.2 for June is only ...

NTMA: Interest bill on national debt to fall below €3.5bn

The interest bill on the national debt will fall below €3.5 billion this year, despite an increase in the overall level of debt. This will be less than ...

Four-day working week programme being launched

A new pilot programme for employers to test the effectiveness of a four-day working week for staff with no loss of pay is being launched today. The six-month ...

Irish Fiscal Advisory Council calls for spending explanations

The Chair of the Irish Fiscal Advisory Council has said that politicians need to explain how they would afford to build 40,000 houses a year and retain the ...

Vast majority on PUP would be financially better off at work – ESRI

Younger people are more likely to suffer from financial hardship when Covid-19 State supports are ceased, according to new research published by the Economic and Social Research Institute ...

Jobless: Will young people be scarred long-term?

With almost two thirds of those under the age of 25 who are not in education unemployed, the National Youth Council of Ireland is warning that the pandemic ...

Ireland to receive biggest share of EU Brexit fund

Ireland is set to receive the biggest share of the €5 billion EU Brexit fund, after a provisional agreement was reached today. Ireland will get over €1 billion ...

Sinn Féin seeks to amend plans for moneylender rate cap

Sinn Féin is seeking to amend a new piece of legislation it has proposed that aims to cap the interest rate charged by moneylenders. Currently, moneylenders can charge ...

Mortgage arrears continue to edge lower – Central Bank

New figures from the Central Bank show that the number of homeowners in mortgage arrears for more than 90 days fell to 5.2% at the end of March, ...

Food service market recovery slower than forecast

The food service market here will not return to the levels it was at prior to the Covid-19 pandemic until the end of next year, according to Bord ...

ISME: PUP acting as a ‘brake’ on getting workers back

Small and medium Irish employers are warning that the Pandemic Unemployment Payment (PUP) is acting as “a significant brake” on returning workers in certain sectors of the economy ...

Home prices see annual increase of 4.5% in April – CSO

The price of residential property increased by 4.5% in April, according to the latest figures from the Central Statistics Office. This compares to an increase of 3.5% in ...

Numbers claiming PUP down almost 18,000 on last week

The number of people receiving the Pandemic Unemployment Payment has fallen to just over 267,000 – a decrease of almost 18,000 over the last seven days. The drop ...

EU excludes major banks from bond sales

The European Union has excluded some of the biggest investment banks with past involvement in breaches of antitrust rules from syndicated debt sales backing its up to €800 ...

Should you buy or rent? 5 key questions to ask

A dilemma is a situation in which a difficult choice has to be made between two or more alternatives. It is precisely what is facing a vast cohort ...

EU’s commitment to Good Friday Agreement ‘unwavering’, says Gentiloni

Paolo Gentiloni, EU Commissioner for Economy, has said the EU’s commitment to the Good Friday Agreement is “unwavering”. Commissioner Gentiloni made his remarks in an online address to ...

Employees want flexibility in where and when they work, survey finds

Over half of employees would consider leaving their job post pandemic if they are not given some form of flexibility in where and when they work, according to ...

Traffic volumes rise in May as Covid travel curbs ease

New figures from the Central Statistics Office show that the volume of cars on Irish roads has been rising slowly since the start of the year after the ...

Construction activity bounces back, but costs soar

Activity in the construction sector expanded for the first time this year in May, according to Ulster Bank’s latest Purchasing Managers’ Index. The index, which is designed to ...

Lack of online services saw 1 in 3 closing credit union accounts – survey

Around a third of people surveyed by a company that provides technical expertise to the credit unions sector said they had closed their credit union accounts because of ...

Is now a good time to lock into a 20-year mortgage?

Appearing before an Oireachtas Committee at the end of 2016, the then chief executive of Bank of Ireland more or less admitted that the bank was deliberately keeping ...

Ireland to make strong case for tax competition, says Donohoe

Finance Minister Paschal Donohoe has said that Ireland will be vigourously making the case for tax competition and for maintaining a corporate tax rate of 12.5%. In negotiations ...

NAMA increases projected lifetime surplus to €4.25 billion from €4 billion

The National Asset Management Agency (NAMA) now expects to provide an overall surplus to the Exchequer over its lifetime of €4.25 billion, up from the previous estimate of ...

ECB lifts euro zone growth and inflation projections

The European Central Bank has raised its growth and inflation projections for this year and next as the euro zone economy started to roar back to life after ...

Central Bank’s Rowland says onus on firms to set the right standards

The Central Bank’s Director General, Financial Conduct, has said that increasing evidence in the financial services sector shows that ineffective culture is bad for business – both for ...

NTMA raises €1.25 billion in bond auction

The National Treasury Management Agency has raised €1.25 billion this morning in an auction of Irish bonds. Today’s auction brings the total raised by the NTMA so far ...

Supply shortage, rising costs could impact housing affordability – BPFI

A combination of lack of housing supply and rising construction costs could exacerbate property affordability issues in the years ahead, according to the Banking and Payments Federation Ireland. ...

Too early to reconsider 2m rule in workplaces – McGrath

Minister for Public Expenditure and Reform Michael McGrath has said the Government would like to see people return to the workplace as soon as possible, but for now ...

Pandemic Unemployment Payment claims at six-month low

The number of people claiming temporary Covid-related jobless benefits fell by 8% to 285,000 this week, its lowest level since December last year, new figures from the Department ...

Euro zone economic dip milder than expected in first quarter

The euro zone economy contracted by much less than expected in the first quarter of the year, revised data from the EU’s statistics office showed, with a buildup ...

Is Ireland about to lose over €2 billion a year in tax revenue?

Minister for Finance Paschal Donohoe at the G7 meeting in London Over the weekend, finance members from the G7 nations backed a move which will could see the ...

‘Great to be back’ as outdoor hospitality returns

Publicans have said it is “great to be back” as bars, cafés and restaurants reopened for outdoor service. Bars, restaurants and cafés resumed outdoor service as part of ...

Household energy bills are rising – get ready to switch

This time last year, energy prices were just starting to recover from the record lows reached in the weeks before. Worldwide lockdowns at the onset of the pandemic ...

G7 to discuss Covid economic challenges and climate

The first in-person meeting of the G7 countries since the start of the pandemic takes place in London today. Minister for Finance Paschal Donohoe will attend the two-day ...

Confidence among small business owners improving – SFA

Confidence among small business owners has notably improved, according to a new report from the Small Firms Association (SFA). The latest Small Business Sentiment survey shows that over ...

Euro zone business growth soared in May as restrictions eased – PMI

Euro zone business activity surged in May as the easing of some coronavirus related restrictions injected life into the bloc’s dominant services industry, a survey showed, echoing data ...

ESRI urges extra borrowing and a doubling of investment in housing

Ireland should borrow more to invest in housing and could borrow an additional €4bn to €7bn a year, according to a new analysis by the Economic and Social ...

ECB to keep policy loose this year despite high inflation risks

The European Central Bank will not change the total size of its asset purchase programme at its June 10 meeting but will start tapering its pandemic purchases later ...

Growth in services accelerates as restrictions are eased

Activity in the services sector expanded at the fastest pace in over five years in May, according to AIB. Its latest Purchasing Managers’ Index, a month-on-month check-up on ...

Hopes for tourism boost as hospitality sector reopens

Hotels, B&Bs, self-catering accommodation and hostels can reopen from today, as the gradual lifting of Covid-19 restrictions on the tourism and hospitality sector begins. However, services including leisure ...

Under-25s six times more likely to be in temporary work than older age groups

People aged under 25 are almost six times more likely to be in temporary work than their older counterparts, according to a new study on decent work by ...

Local Property Tax to apply to homes built since 2013

The Cabinet has agreed that owners of new homes built since 2013 will now have to pay Local Property Tax. It follows a decision taken at a meeting ...

Govt to layout roadmap to economic recovery with plan announcement

The Government will unveil its Economic Recovery Plan later today, which is expected to lay out a roadmap for the economy as it emerges from the impact of ...

Mortgage approvals continue to grow, driven by first-time buyers

New figures show that the number of mortgages approved were up 0.9% in April on a monthly basis, while they rose by over 98% compared with the same ...

Govt set to reduce PUP by €50 from September

The Government looks set to begin reducing the Pandemic Unemployment Payment by €50 a week from September. It’s understood that Cabinet will consider reducing the PUP by €50 ...

Momentum in economy building, Bank of Ireland’s Economic Pulse shows

Bank of Ireland’s Economic Pulse came in at 89.5 in May – back above its pre-pandemic level – which bodes well for a pick-up in spending as public ...

Crypto assets a great concern, says Central Bank’s Rowland

The rising popularity of cryptocurrencies such as bitcoin is “of great concern” according to the Central Bank’s Derville Rowland. “Crypto assets are quite a speculative, unregulated investment,” and ...

National Economic Plan to map out recovery plans

It is widely expected that the Cabinet will approve and publish the Government’s National Economic Plan next week. This will outline policies to promote the recovery of the ...

Work-life balance top well-being concern for employers

A new survey has revealed that work-life balance is the number one well-being issue Irish employers are concerned about followed closely by mental health and burnout. The 2021 ...

ISME dissatisfied with non-vaccinated workers’ guidance

Small firms’ body ISME has accused the Government of exposing employers to potential legal action by failing to give them “robust” guidance on handling situations where employees choose ...

Deadline for annual returns extended to 11 June

The Registrar of Companies has extended the deadline for the filing of annual returns to 11 June. The Registrar said it has taken the decision to further extend ...

European Union to finalise huge farm policy overhaul

European Union agriculture ministers said negotiators are close to a deal that aims to reform the bloc’s huge farming subsidy programme, protect small farms and bring agriculture in ...

54% of consumers plan summer holiday this year – KBC Bank Ireland

Irish consumers do not plan to go wild on their holiday spending in 2021, a new survey from KBC Bank Ireland suggests. One in four plan to spend ...

Govt to look at phasing out pandemic supports from October – Varadkar

The Government will begin to look at phasing out financial pandemic supports in the final three months of the year, the Tánaiste has told colleagues. Speaking at a ...

Planning applications for residential units drop

The number of residential units submitted for planning permission fell by nearly a third in the first quarter of the year, according to a new report by Deloitte. ...

Survey suggests measures needed for affordable housing

A new survey has found that four out of every five adults think the Government should introduce new measures to improve the supply of affordable housing here. The ...

Number of people receiving PUP falls more than 29,000

The numbers of people in receipt of the Pandemic Unemployment (PUP) this week has fallen by a further 29,174 to 333,993. In total €102m will be paid out ...

Central Bank to conduct major review of mortgage rules

The Central Bank of Ireland will begin a major review of its mortgage lending rules next month, the first since the measures were introduced in 2015. The review ...

Gas supply driving power generation in April

Gas demand for power generation reached its highest level in six months in April as wind generation fell to its lowest in nine months, new figures show today. ...

Guidelines for reopening of hospitality sector due out

Guidelines for the reopening of the hospitality sector are expected to be published today. They have been drawn up by Fáilte Ireland ahead of Friday’s Cabinet meeting which ...

Unemployment could exceed 390,000 post-pandemic – Social Justice Ireland

Unemployment could end up exceeding 390,000 when the pandemic ends – a higher rate than at the peak of the last recession, according to the Social Justice Ireland ...

Publicans call for indoor opening ‘no later’ than July 1

Publicans have called for indoor trading to resume no later than Thursday July 1. The Vintners’ Federation of Ireland said that after “sacrificing” their businesses for over 15 ...

What will be the result of the global remote work experiment?

A pioneer of remote work, IBM installed remote terminals in employees’ homes as early as the 1980s, and by 2009, when the idea of remote work was still ...

Consumer confidence hits 23-month high, as optimism builds

Consumer confidence hit a 23-month high this month, according to KBC Bank Ireland’s latest consumer sentiment index. The index rose to 85.8 in May from 77.9 in April, ...

Tax increases needed to fund public services – ESRI

The Economic and Social Research Institute has said “sizeable tax increases in the years ahead” will be needed to fund public services. In a paper published today, the ...

Euro zone economy not near ‘super bounce back’ – Lane

The chief economist of the European Central Bank Philip Lane has said he does not believe economies are “entering some new inflationary environment”. He said there is “zero ...

Firms pledge to improve diversity, inclusivity in workplace

New research has found that a person with a disability is four and-a-half times more likely to be unemployed than those in the general population. The study also ...

Prospective buyers unhappy over omission of apartments from scheme

Demand is high and supply remains low. That’s the stark reality of the country’s housing market. The Government hopes its proposal to introduce a stamp duty charge of ...

Personal injury reforms to ‘positively’ impact premiums – Zurich CEO

New personal injury guidelines for the insurance industry will “positively” impact premiums, according to the CEO of Zurich Ireland. Anthony Brennan said in the coming weeks, the company ...

Donohoe defends 10% stamp duty proposal on bulk buying

Minister for Finance Paschal Donohoe has defended the decision to exempt apartments from the Government’s proposal to introduce a stamp duty charge of 10% on the purchase of ...

Post-Covid ‘balancing act’ the next challenge for business

A new survey shows that 43% of organisations overall reported that absenteeism fell during 2020. This figure was even higher in the public sector at 59%, according to ...

EU proposes ‘business-friendly’ unified tax rulebook for companies

The European Commission has proposed new corporation tax rules in Europe that could allow companies to file one tax return for all its operations in the EU. The ...

Over 95% of workers support some form of remote working – survey

Over 95% of workers now favour some form of remote working, with fewer than 5% wanting a full-time return to the office, according to the Second Annual National ...

Cabinet to discuss proposals to prevent bulk buying of homes

The ministers for Housing and Finance are expected to bring proposals to the Cabinet this morning to prevent the bulk purchase of housing estates by investment funds. Minister ...

Claims on health insurance plans fall by almost a third

THERE has been a sharp drop in the number of claims made on health insurance plans due to the pandemic restrictions. The Covid-19 outbreak has also seen the ...

Progress made on internal bank culture but public trust levels remain low

There is ‘a very substantial number of customers’ who believe that banks handle their data securely, according to the chair of the Irish Banking Culture Board. The board ...

Majority of businesses stable or in growth mode – IntertradeIreland

Nearly two thirds of businesses surveyed by InterTrade Ireland said they are in stable or growth mode, in a further sign that recovery is taking hold. Optimism levels ...

Most businesses plan return of employees to workplaces within three months – Ibec

More than three quarters of businesses are planning to return employees to their workplaces within the next three months if Government guidelines allow, a new survey by the ...

NTMA raises €1.5bn as bond yields creep up again

The National Treasury Management Agency (NTMA) successfully raised €1.5bn in an auction of benchmark Irish government bonds this morning. The three bonds, maturing in 2031, 2033 and 2050, were ...

Donohoe says more must be done to help first time buyers

Minister for Finance Paschal Donohoe has said he appreciates the urgency of Ireland’s housing situation, and he acknowledged that the Government must do more to alleviate the challenges ...

Consumer prices rise for first time since start of pandemic – CSO

The annual rate of consumer inflation rose by 1.1% in April, according to the latest figures from the Central Statistics Office. This marks the first positive annual rate ...

Talent exodus could cost business up to €1.2 billion

55% of employees are looking to change roles in either the next six or 12 months or once the economy has strengthened, new research from HR firm Personio ...

NCPC urges businesses to maximise remote working benefits

Remote working has the potential to bring economic, social and environmental benefits – but some enterprises may struggle with additional costs, according to the National Competitiveness and Productivity ...

House prices rose by fastest rate in two years in March – CSO

New figures from the Central Statistics Office show hous prices rose at their fastest rate in two years in March of this year. Rents are also increasing across ...

‘Faster’ process on the way to help small firms restructure

Minister of State for Trade Robert Troy has said a more cost-effective and faster administrative process will be put in place before the summer to enable “viable, vulnerable” ...

Numbers claiming PUP down over 8,500 on last week

The Department of Social Protection has advised employers facing difficulties in re-hiring staff to contact it so that it can “follow up” with the workers concerned. The advice ...

Foreign investors accounted for 78% of property funding between 2017 and 2019

€4.2 billion in capital was pumped into the Irish commercial and residential property market by foreign private finance providers each year between 2017 and 2019, new analysis has ...

Younger workers most impacted by pandemic – ESRI

Young adults have suffered the worst unemployment and labour market impact from Covid-19, according to the latest research by the Economic and Social Research Institute. The report also ...

Proposals to prevent first-time buyers competing with funds

Minister for Housing Darragh O’Brien has said he will share proposals later this week to prevent first-time buyers competing with large investment funds for houses. He said there ...

Government to continue to support businesses as Covid curbs ease – Varadkar

Tánaiste Leo Varadkar said that today is “a day of freedom” as society partially re-opens and people can travel freely anywhere on the island of Ireland. Mr Varadkar ...

12,000 business reopening today as Covid curbs ease

12,000 businesses are expected to reopen their premises this week as Covid-19 restrictions ease further starting from today. Non-essential retailers across the country can resume click and collect, ...

Grants of up to €40,000 under new Online Retail Scheme

€5m is to be made available to help businesses upgrade their websites to boost opportunities in online retail. The latest round of the Covid-19 Online Retail Scheme is ...

Manufacturing activity surge drives PMI to record high

Conditions in manufacturing improved vastly in the month of April bringing AIB’s monthly measure of activity in the sector to a record high. The Purchasing Managers’ Index – ...

Covid-related supports for businesses to be set out by month end

Minister for Public Expenditure and Reform Michael McGrath has said Covid-related supports for businesses and individuals beyond June will be laid out by Government by the end of ...

Business groups largely welcome Govt reopening plan

Business groups have largely welcomed the latest Government plan for the reopening of the economy, which will see sectors reopen on a phased basis from 10 May. On ...

Economic revival begins but won’t be easy

Is this really the beginning of the end of the economic misery that’s been heaped upon the country for the past 13 months?
 That’s the question that thousands ...

Central Bank: Lending by banks beginning to recover

A new report from the Central Bank indicates that lending by banks has begun to recover this year, particularly in the mortgage market. However, it warns that unexpected ...

Business group calls for certainty in reopening plan

Certainty on financial supports and the reopening strategy for businesses over the coming months are required from today’s Cabinet meeting on Covid-19 restrictions, Chambers Ireland has said. The ...

Retail sales post annual growth of 8.5% in March – CSO

Retail sales volumes were 8.5% higher in March than in the same month last year, driven by growth in homewares and car sales, new figures from the Central ...

Number of firms on Covid support in January highest since June 2020

Almost half of businesses surveyed by the Central Statistics Office had employees either on the Pandemic Unemployment Payment (PUP) or the Wage Subsidy Scheme (WSS) in January of ...

Retailers’ concern over plans on minimum unit price rules for alcohol

Retailers have expressed deep concern at Government plans to introduce minimum unit price (MUP) rules for alcohol before similar measures are put in place in Northern Ireland. Retail ...

Donohoe: Rise in core spending will be higher than 3.5%

The Minister for Finance, Paschal Donohoe, has said expenditure by the Government will be higher than the average 3.5% increase in core spending detailed in the Stability Programme ...

Food and drink exports to UK down 35% since 2018 – CSO

A new report from the Central Statistics Office finds evidence that Brexit has led to an overall decline in trade between Ireland and the UK in food and ...

Adjustment of Covid reopening plan ‘now vital,’ says Ibec

The chief executive of the employers’ group Ibec has written to the Government to outline what the organisation sees as the key priorities for the reopening of the ...

Most Irish food SMEs expect revenue growth this year

Most small and medium sized businesses in the food sector expect their revenues to increase in the year ahead, according to new research by Love Irish Food and ...

‘No abrupt end’ to Covid financial supports – McGrath

The Minister for Public Expenditure and Reform has said there will be “no abrupt end” to the Covid financial supports. Over the coming weeks, Michael McGrath said the ...

Business confidence jumps to higher levels than before pandemic – BoI

Business confidence jumped in April to higher levels than seen even before the Covid-19 pandemic, as they eye the rollout of vaccines and some easing of restrictions, according ...

Retail and wholesale start-ups jump by 88% in Q1 – CRIFVision-Net

The first quarter of 2021 saw a significant increase in “necessity-led entrepreneurship” across the retail and wholesale sectors, the latest figures from credit risk analyst CRIFVision-Net show. Today’s ...

Health insurance uptake on the rise, but so are prices

Like many economic predictions when it comes to the pandemic, forecasts around the health insurance market have turned out to be wide of the mark. Given the impact ...

Consumer sentiment improves to 13-month high in April

Consumer sentiment climbed slightly to hit its highest in April since the onset of the Covid-19 pandemic, a survey showed today, but consumers expressed caution about the long-term ...

ECB sticks with euro zone stimulus plans

The European Central Bank left policy unchanged as expected today, keeping copious stimulus flowing even as it saw reasons to expect a firm rebound of the euro area ...

Property transactions up 12% to €4.2bn despite pandemic

New data from the Property Price Register shows that the volume of residential transactions rose 12% in the first three months of the year, despite the lockdown. According ...

4 in 10 workers have no occupational pension – Age Action

40% of workers aged between 20 and 69 have no occupational pension coverage other than the state pension, according to Age Action. Addressing a Pensions Commission webinar earlier ...

Donohoe says Ireland committed to global tax deal – but it must work for small countries

Ireland is committed to reaching an agreement to overhaul global corporate tax, but it must be one that works for small countries and accommodates healthy and fair tax ...

Government spent €13 billion on tackling Covid last year – CSO

Figures published the Central Statistics Office today give a provisional breakdown of the €13.1 billion spent by the Government last year to tackle Covid-19. The Pandemic Unemployment Payment ...

Job postings continue to grow, up 34% in first quarter – IrishJobs

Job postings on e-recruitment platform IrishJobs.ie were up 34% in the first quarter of the year, compared to the final quarter of 2020. The data suggests the Irish ...

Report warns of rising houses prices and delays

The construction industry could be unable to meet pent-up demand for housing and infrastructure, even when fully reopened, due to labour shortages and a “boom and bust” cycle ...

Covid supports not a subsidy for insurance firms – McGrath

Minister for Public Expenditure and Reform Michael McGrath has said the Covid-19 supports paid to businesses were “never intended to be a subsidy for insurance companies”. The Minister ...

Covid-19 having ‘profound’ impact on SMEs

A survey by the Central Bank and the ESRI has found the impact of Covid-19 on small and medium sized enterprises (SMEs) has been “profound”. The survey reveals ...

Key focus of Government is getting people back to work – Donohoe

The Minister for Finance has said that scaling up the vaccine programme is key to the re-opening of the economy and that is happening now with 170,000 vaccines ...

Land prices forecast to rise by 4% on average in 2021

Land prices remained resilient last year despite the threat posed by Covid-19, according to a report by the Society of Chartered Surveyors Ireland and Teagasc. Nationally, the price ...

Call for more transparent pension fees legislation

A report on pensions has found that fees and charges are so high that over time they are wiping out the tax relief given to pension savers by ...

Dublin Port volumes down 15% in first quarter of 2021

Brexit trigged a major reduction in cargo volumes at Dublin Port in the first quarter of this year, while Covid-19 also hit passenger numbers. The Dublin Port Company ...

Why is Ireland seen as unattractive by banks?

Ulster Bank, Bank of Scotland Ireland, Rabobank, Danske Bank, and more. There have been plenty of lenders who have dipped their toes in the Irish banking sector, only ...

Home prices see annual increase of 3% in February – CSO

The price of residential property nationally rose by 3% in February, according to the latest figures from the Central Statistics Office. This compares to an increase of 2.6% ...

NTMA raises €3.5 billion through sale of a 20-year bond

The National Treasury Management Agency has raised €3.5 billion through the sale of a new 20-year bond. The bond, which matures in April 2041, was sold at an ...

Trade with UK declines again in February – CSO

Trade with Great Britain continued to decline in February, according to the latest figures from the Central Statistics Office. Imports of goods from Britain were down €742m, or ...

Low Pay Commission to investigate move to €12.30 per hour living wage

The Government has formally authorised the Low Pay Commission to investigate how Ireland can move towards a living wage, and must report in the second half of this ...

Digital advertising spend up 8% last year to €726m

New figures show that digital advertising spend in the Irish market reached €726m last year, up 8% compared to 2019. The latest IAB PwC Online Adspend report shows ...

IMF predicts uneven European economic recovery

The International Monetary Fund has said Europe’s economy should rebound this year but recovery across the region remains uneven. The IMF is also calling for a “new social ...

4.5% growth in economy forecast despite Covid damage

Minister for Finance Paschal Donohoe will publish the Stability Programme Update later today which will set out new deficit and growth targets for the economy. RTÉ News understands ...

Report suggests penalties for bogus self-employment

Penalties for employers who intentionally misclassify workers as self-employed, resulting in the loss of PRSI and employment rights entitlements, should be explored by the Department of Social Protection, ...

Public finances show deficit of €18.4 billion for 2020

Provisional figures from the Central Statistics Office published today show the deficit in the public finances was €18.4 billion last year, which represented 5% of GDP. This is ...

Work from home whenever possible, Tánaiste reminds

The Government has reminded employers that all staff should continue to work from home, if possible. As some Level 5 restrictions eased yesterday, the Tánaiste and Minister for ...

Numbers set to get PUP down 15,000 this week

The number of people due to receive the Pandemic Unemployment Payment (PUP) this week is down 15,776 on last week. 421,373 people will get a total of €125.52m ...

Car insurance premiums to fall in the ‘near future’

The chief executive of Insurance Ireland has said she would be “optimistic” that consumers will start to see a reduction in their motor insurance premiums “in the near ...

Up to 20,000 construction workers to return to sites

Up to 20,000 construction workers will return to work on residential, early-learning and childcare sites around the country today as Covid-19 restrictions ease. But there continues to be ...

Dept issues warning about scam phone calls

The Department of Social Protection has issued a warning about scam phone calls from people claiming to be department officials. The department said that the call displays a ...

Site shutdown sees building activity stall for third month in a row

Construction activity declined for the third month running in March as most building sites remained shuttered due to Covid-19 restrictions. Activity across all sub-sectors fell sharply, according to ...

Consumer prices rise at fastest monthly pace in two years

New figures show that consumer prices rose at their fastest monthly pace in two years in March to stand at the same level a year earlier, when the ...

European rents up 15%, house prices by 28.6% since 2010

Irish house prices rose in line with the EU average of 28.9% over the past decade, according to figures published today by Eurostat, the EU’s statistical agency.  The ...

What is a global minimum tax and how could it affect companies, countries?

US Treasury Secretary Janet Yellen has thrown the weight of the US government behind a push for a global corporate minimum tax rate, possibly carving a path to ...

Those on minimum wage hit hard with pandemic job losses

Minimum wage employees in Ireland are likely to be suffering disproportionately from job losses as almost half work in sectors worst hit by the Covid-19 pandemic, according to ...

Over €26m spent a day in contactless payments in February

New figures from Banking and Payments Federation Ireland reveal that 1.6 million contactless payments were made every day in February. February saw a total of 46.2 million contactless ...

Irish mortgage rates still second highest in euro zone – Central Bank

Rates on Irish mortgages remain the second highest in the euro area, according to the latest figures from the Central Bank.  In February, the average rate on new ...

Pandemic spending drives increase in deficit to €4.17bn in March

The public finances recorded a deficit of €4.172 billion in March, according to figures published this afternoon by the Department of Finance. This compares to a deficit of ...

ECB must remain euro zone’s stabiliser, says Lane

The European Central Bank must remain a key stabiliser of the euro zone economy as the bloc is at risk of suffering longer-term damage from its pandemic-induced double-dip ...

Ibec downgrades growth forecast for 2021 to 3.1%

Ireland’s economy will grow by 3.1% this year, employers’ group Ibec is predicting, down from the 5.3% it said it was anticipating for 2021 just three months ago. Although ...

Long lasting damage from tracker mortgage affair

“I don’t know what a tracker mortgage is.”  Remember the ad? The ad was released by the financial regulator around 2007, as part of a campaign to educate ...

Govt confirms extension of €2bn Credit Guarantee Scheme

The Government has confirmed that it will extend the €2 billion Credit Guarantee Scheme, with the scheme remaining open for applications until the end of the year. The ...

Rise in consumer confidence in visiting stores – Deloitte survey

Consumer confidence in visiting physical stores, engaging in person-to-person services and attending in-person events has increased, according to a new report by Deloitte Ireland. The latest consumer tracker ...

Ulster Bank hit with record €38m Central Bank fine for tracker mortgage failings

The Central Bank has fined Ulster Bank Ireland almost €38m for dozens of regulatory breaches in its handling of its tracker mortgage customers. The fine of €37.774m is the ...

Poll suggests one in four cut back on food and utilities during pandemic

The Covid-19 pandemic has led to one in four people cutting back on food and utilities, according to research commissioned by the Society of St Vincent de Paul. Almost ...

Consumer sentiment improves to best level in 12 months

Consumer sentiment improved to its best level in 12 months in March, according to the latest KBC Bank Ireland consumer sentiment index.  The report said the increase in consumer ...

ESRI lowers economic growth forecasts as Covid restrictions continue

The Economic and Social Research Institute has lowered its forecasts for growth in the economy this year, due to ongoing Level 5 pandemic restrictions. In its Quarterly Economic ...

Rents nationwide rise by 2.7% in fourth quarter

Rental prices increased by 2.7% nationally to stand at an average of €1,256 a month by the end of last year, according to the latest figures from the ...

Dublin-Belfast economic corridor plans to be revealed

Plans for an economic corridor between Dublin and Belfast will be launched by the eight local authorities it passes through. Four local councils on each side of the ...

Europe facing difficult quarter but ECB will do its part – Lane

Europe is facing a difficult second quarter as coronavirus infections rise and governments reimpose lockdown measures, but the European Central Bank will do its part to keep borrowing ...

Employers owe €224m to Revenue for TSSS payments

56% of employers who availed of the Temporary Wage Subsidy Scheme were overpaid under the scheme, and owe a total of €224m to the Revenue Commissioners by the ...

Half of restaurants face permanent closure due to pandemic, says RAI

Half of restaurants face permanent closure in the wake of the coronavirus pandemic, according to the lobby group which represents the industry.  The Restaurants Association of Ireland will ...

Increase in Govt spending due to Covid second highest in euro area

The increase in Government spending in response to the Covid pandemic over the first three quarters of last year was the second highest in the euro area, according ...

Average €4,000 loss to SMEs from fraud last year – Bank of Ireland research

The average loss to a small and medium enterprise here arising from fraud stood at just below €4,000 last year, according to research carried out by Bank of ...

Views sought on reform of Personal Injuries Board

A public consultation on enhancing and reforming the remit of the Personal Injuries Assessment Board (PIAB) begins today. Launched by the Minister for Trade Promotion, Digital and Company ...

Mortgage arrears – is this the calm before another storm?

There was a time in the last decade when the Central Bank’s mortgage arrears figures were as keenly anticipated as the property price figures from the Central Statistics ...

Retail, transport workers should receive living wage – Varadkar

Essential workers including those in retail, transport, cleaning and food service should receive a living wage with access to an occupational pension, according to the Tánaiste and Minister ...

Slight decline in mortgages in arrears in final quarter – Central Bank

There was a marginal decline in the number of mortgage accounts on private residences that were in arrears at the end of December, according to the Central Bank. ...

Irish family firms cut more jobs than European peers

Irish family firms cut more jobs in the past year when compared to their European peers, according to a new report. The study by the Step Project Global Consortium ...

Farmland prices see big jump of 15% in 2020, Irish Farmers Journal report shows

The average price of farmland rose by 15% nationally last year, despite the Covid-19 pandemic, the latest Irish Farmers Journal’s county land price report shows. Today’s report shows ...

Central Bank says firms must ‘set the right standards’

The stockbroker Davy need only look in the mirror when it asks itself how things went so catastrophically wrong, the Director General of Financial Conduct at the Central ...

ECB wants to keep yields in check while economy heals – Lane

The European Central Bank is aiming to stop bond yields from rising before the pandemic-hit euro zone economy is ready to digest higher borrowing costs, the ECB’s chief ...

Shift in post-Brexit jobseeker activity evident in certain sectors – Indeed

A shift away from the UK as a destination for European job seekers post-Brexit is manifesting in increased interest in certain categories of Irish jobs, according to research ...

Half of firms plan to adopt remote working long-term

51% of businesses plan to adopt remote working on a permanent basis, according to new research carried out by CIPD Ireland. The data was published by the umbrella ...

Central Bank says new housing equity scheme could put pressure on prices

The Central Bank has raised questions about the shared equity scheme proposed by Minister for Housing Darragh O’Brien to help first-time home buyers. In a letter to the ...

Contactless payment values up by almost a third – BPFI

The value of contactless payments rose by almost 30% year on year in January to €674m as consumers took advantage of the extended ‘tapping’ limit of €50, according ...

Lockdown dealt €2bn hit to construction output in 2020 – report

The initial shutdown of the construction sector for seven weeks during the initial stages of the Covid-19 pandemic knocked €2bn off construction output last year. That is according ...

Premium hikes likely as rebuild costs rise

Homeowners could face increased buildings insurance premiums because of a hike in the cost of rebuilding a home, according to a report from the Society of Chartered Surveyors. ...

AIB, BoI and PTSB used loss reliefs worth almost €500m over three year period

The Minister for Finance, Paschal Donohoe, has confirmed that the three banks in which the state has shares utilised loss reliefs of almost €500m against their corporation tax ...

UK pushes back timetable for post-Brexit border checks

Britain has delayed by around six months its plans to introduce a range of post-Brexit border checks on goods imported from the European Union, saying it had listened ...

ECB to boost emergency bond buys, keeps rates unchanged

The European Central Bank has left its key interest rates unchanged after today’s Governing Council meeting. However, the ECB has said it expects to buy bonds under its ...

Two thirds of CEOs believe firms will pay more tax arising from pandemic – PwC

Almost two thirds of chief executives here believe that their companies will end up paying more tax as a result of policy changes to address rising debt levels ...

Applications for phase 1 of €8,000 SBASC grant opens today

Applications for the €60m Small Business Assistance Scheme for Covid-19 have opened today.  The SBASC scheme is in addition to the package the Government has put in place ...

Bank boards still not sufficiently tech savvy – Accenture study

A third of the world’s biggest banks still have no board members with professional technology experience, skills needed to help lenders make better decisions as they increase investments ...

Irish mortgage interest rates highest in euro zone again

Ireland continues to have the highest mortgage interest rates across the euro area in January, new figures from the Central Bank show.  The Central Bank said the average ...

Consumers reluctant to return to in-store shopping, study shows

71% of consumers say they will not feel comfortable shopping on their local high street until the Covid crisis is better controlled, according to a new survey. The research ...

Union calls for ‘transparent’ debate on future of banking

The Financial Services Union is calling on the Government to convene a forum for what it calls an’ open and transparent’ public debate on the future of banking ...

ESRI revises downwards economic growth forecast

The Economic and Social Research Institute has revised downwards its forecast for growth in the economy this year.  In an opening statement to the Oireachtas Committee on Budgetary ...

Coveney to brief members of US Congress on Brexit

Members of the US Congress are to receive a briefing today on the latest Brexit developments from Minister for Foreign Affairs Simon Coveney and European Commission Vice-President Maroš Šefčovič. ...

Covid restrictions continue to hit Dublin economy

The latest Dublin Economic Monitor shows that although the Dublin economy remains severely impacted by Covid-19 restrictions, it is prepared for recovery once conditions permit. The monitor is ...

Oireachtas Committee to hear stronger regulatory framework needed in wake of Davy

A senior Central Bank representative will tell an Oireachtas Committee today that the regulatory framework requires further strengthening when it comes to holding individuals to account for breaches. ...

47% of homebuyers think prices will rise by up to 10% this year

47% of prospective homebuyers think prices will rise by up to 10% in the coming year, according to a new survey from property website MyHome.ie. A similar survey ...

Cabinet to consider extension of Covid protections for tenants

The Cabinet will this morning consider a proposal from Minister for Housing Darragh O’Brien to extend protections for tenants whose incomes have been affected by the Covid-19 pandemic. ...

Consumer spending down 19% in February – Revolut

Consumer spending fell again in February as the impact of the full coronavirus lockdown continued to bite, new figures from digital banking app Revolut show.  Revolut said that ...

Increase in women taking up leadership roles, and why its beneficial to business

The number of women holding senior leadership roles in Irish businesses improved in the past year, growing from 31% in 2020 to 33% in 2021, according to research ...

Construction sector sees another decline in activity

February saw another steep contraction in construction activity here due to the coronavirus lockdown restrictions. Ulster Bank’s Construction Purchasing Managers’ index remained well below the 50 no-change mark ...

Need for focus on reducing deficit post-pandemic – Donohoe

The Minister for Finance has warned that it is dangerous for a small economy that cannot print its own currency to think that “deficits don’t matter” when evaluating ...

Martin says need to move away from supports once Covid under control

The Taoiseach has said that as the Covid-19 pandemic is brought under control there will be a need to move away from the extensive and wide-ranging emergency supports ...

EU Parliament declines to set EU-UK trade deal vote

The European Parliament has postponed a decision on ratifying the EU-UK free trade agreement in protest at the UK’s unilateral move on how the Northern Ireland Protocol should ...

Covid-19 unemployment rate dips to 24.8% in February

New figures from the Central Statistics Office show that the unemployment rate, including those receiving temporary Covid-19 jobless benefit, fell slightly to 24.8% in February from 25.1% in ...

Permanent TSB talks over Ulster Bank have been positive says CEO

The chief executive of Permanent TSB has described its discussions with Ulster Bank parent NatWest on the possible purchase of parts of the business as positive. Speaking on Morning ...

EU negotiating with partner it cannot trust – Coveney

The Minister for Foreign Affairs said the EU is negotiating with a partner it simply cannot trust following yesterday’s move by the British government to unilaterally change how the ...

Bank branch closures highlight generational digital divide

The decision by Bank of Ireland to close over a hundred branches across its network highlights the digital divide that exists between the generations. The migration of banks ...

‘Chronic underinvestment’ harming recovery prospects – Ibec

Decades of chronic underinvestment in key infrastructure is threatening to undermine the prospects for economic recovery, according to Ibec. Publishing its submission to the mid-term review of the ...

Exchequer deficit climbed to €14bn by end of February

Exchequer returns for February show that the budgetary situation has now deteriorated by €1.7bn compared to the same period a year ago, due to the decline in tax ...

Euro zone inflation holds steady before expected spike

Euro zone inflation held steady as expected last month, taking a break in what is likely to be a temporary but sharp spike in consumer prices in the ...

Dublin benefits most from Brexit financial services relocations – EY

Dublin remains the most popular destination for UK financial services firms looking to relocate staff or operations as a result of Brexit, according to EY. The accounting and ...

Bank of Ireland reassures on cash facilities and ATMs

Bank of Ireland has said that no location will be left without access to financial services or cash facilities after its decision to close 103 branches in the ...

Ireland’s minimum wage is second-highest in the European Union

Ireland has the second-highest minimum wage across the EU, at €1,724 per month, according to Eurofound. Luxembourg has the highest, at €2,202, the Dublin-based EU agency said in ...

How ordinary savers can avoid the negative interest bullet

The notion that ordinary savers could be charged to leave their savings in a bank has alarmed many — yet this is exactly what would happen if customers ...

Retailers affected by the pandemic negotiate rental discounts of up to 20pc

Retailers are negotiating rental discounts of up to 20pc in many cases, as they continue to be affected by Covid-19 restrictions. More substantial discounts are being achieved by ...

Major reset of EU-UK relations being considered by EU

Senior EU figures are contemplating a major reset in relations with the UK that would coincide with the formal ratification of the free trade agreement at the end ...

Mortgage approvals fell 16% in January

The number of mortgages approved in January fell by 16% compared to the previous month, according to figures published by the Banking & Payments Federation Ireland. A total ...

Youth unemployment worsening, according to CSO figures

Today’s Labour Force Survey figures confirm that the crisis in youth unemployment is worsening.   The number of people aged 15-24 in employment fell from 264,000 at the ...

Key actions needed to reduce insurance costs – NCC

The National Competitiveness Council (NCC) has said key actions must be taken to reduce costs in the Irish liability insurance market, including bringing personal injury award levels in ...

Commercial property vacancy rate rises to 13.5%

13.5% of commercial properties listed across the country were vacant in the final quarter of last year, according to figures published by GeoDirectory and EY-DKM. The number of vacant properties ...

SFA calls for urgent launch of Covid Business Aid Scheme

Many small businesses will be forced to close and cut jobs if the Government does not quickly launch the Covid Business Aid Scheme (CBAS). That is according to ...

Ulster Bank defends decision around plan to withdraw from Irish market

The chief executive of Ulster Bank has defended the decision of the bank and its parent NatWest not to give advance warning of its plan to withdraw from ...

Businesses unhappy with Covid plan and seek supports

Business group Ibec has called for an increase in financial supports for business in the worst impacted sectors of the economy.  In a statement this evening, it said current fixed ...

Govt extends key economic supports as restrictions continue

The Government has said that measures to support business, jobs and employment are to remain in place until the end of June. It follows the announcement that Covid level ...

Judicial reviews delay Strategic Housing Development

A new report has found that the number of units in planned Strategic Housing Developments (SHD) in Dublin that have been delayed or cancelled as a result of ...

Central Bank mortgage lending rules keeping house inflation down – ESRI

New research by the ESRI has found further evidence that mortgage lending rules put in place by the Central Bank six years ago are helping to keep house ...

Cautious optimism pushes consumer sentiment higher

Consumer sentiment bounced back in February thanks to cautious optimism about the outlook for the economy, despite the prospect of Covid-19 restrictions lasting for many more months, a ...

Too early to predict Ulster loan book sale success – Donohoe

Minister for Finance Paschal Donohoe has said it is too early to say if the negotiations between Permanent TSB and NatWest turn out to be successful on the ...

The third banking force awakens

For well over a decade, we’ve been hearing talk on and off about the need for a third banking force in Ireland. The notion gained legs in the ...

Licensed Vintners’ Association calls for more clarity

The Special Committee on Covid-19 Response will meet later today as the updating of the Government’s plan on Living with Covid continues ahead of its publication this week. ...

Consumer prices down 0.2% in January – CSO

New figures from the Central Statistics Office figures show that consumer prices posted an annual fall of 0.2% in January compared to a drop of 1% a month ...

Varadkar promises more targeted Covid-19 supports

The economy will “bounce back” sooner than many people think, the Tánaiste has told the Dáil, but he added that the pandemic will leave “many scars” including lost ...

Ulster Bank confirms exit from Irish market

Ulster Bank has announced a phased withdrawal from the Republic of Ireland over the coming years that will be managed in an “orderly and considered manner”.  The bank, ...

Central Bank expects ‘speedy’ resolution of business interruption claims

The Central Bank has contacted a number of insurers on resolving relevant business interruption claims in a ‘proactive and speedy’ manner. It comes as the bank continues its ...

Bank of Ireland to refund 35,000 mortgage customers

Bank of Ireland is to refund tens of thousands of its mortgage customers after it discovered that it had overcharged them. Around 35,000 accounts were impacted by the ...

Irish online retail sales soar by 159% in 2020 – Wolfgang Digital

Irish online retail sales grew by 159% in 2020, according to new figures from digital agency Wolfgang Digital, up from average annual growth of 32% between 2017 and ...

European new car sales drop by 25.7% in January

European car registrations dropped in January, industry data showed today, as measures to restrict a second coronavirus wave hit sales in the region’s largest markets.  New car registrations ...

Donohoe says public finances still within overall budget

The Minister for Finance, Paschal Donohoe has said the public finances are still within the overall budget published last October. However, he said if current programmes to support incomes ...

Job postings continue to grow, still down 24% – Indeed Ireland

Job postings on Indeed Ireland were down 24% in early February compared with the same time last year, according to new research from the jobs website. However, despite ...

Covid supports to extend beyond March, says McGrath

The Minister for Public Expenditure and Reform has confirmed that the various pandemic supports will be extended beyond the end of March. Speaking on RTÉ’s News at One, Micheal McGrath said ...

Banking Federation critical of capital reserve rules

The banking industry’s representative association, Banking and Payments Federation Ireland, has published a report claiming Irish banks are forced to hold three times the amount of capital as its ...

3,666 decrease in PUP recipients over last week

Almost 477,700 people are set to receive the Pandemic Unemployment Payment this week – a decrease of 3,666 over the last week, according to the Department of Social ...

ICTU warning over reduced redundancy for workers on PUP

Hundreds of thousands of workers could lose out on redundancy payments if their employment is terminated because time spent claiming the Pandemic Unemployment Payment will not count when ...

Decision time on Ulster Bank’s future draws near

This week could be a big one for Ulster Bank’s 2,800 employees in the Republic of Ireland, its 1.1 million customers, the Irish banking market and the economy ...

Are banks about to start charging us for our savings?

It may be hard to believe for those who availed of it, but it’s 20 years since Ireland’s arguably most famous and controversial savings scheme was launched. In ...

Euro zone growth in 2021 to rebound less than expected

The euro zone economy will rebound less than earlier expected from the coronavirus slump this year as a second wave of the pandemic put economies in new lockdowns, ...

Irish economy set to grow by 3.4% in 2021 – Commission

Ireland’s overall GDP growth is projected to come in at 3.4% in 2021 and is set to reach 3.5% in 2022 on the back of strong private consumption, ...

UK can’t have equivalence and divergence – McGuinness

The European Union will strive for close co-operation with Britain on financial services, the EU Financial Services Commissioner Mairead McGuinness has said. But she said London cannot expect ...

People on PUP facing reduced tax credits when they return to work

The Director of Public Policy at Chartered Accountants Ireland has said Revenue will collect the tax owed on the Pandemic Unemployment Payment (PUP) for 2021 by reducing people’s tax ...

88% of online shoppers buy from non-Irish sites – PayPal

88% of Irish consumers who shop online bought from websites outside of Ireland during the last year, according to research carried out by PayPal. The study involving more ...

Business leaders concerned at pace of Covid-19 vaccine rollout – IoD

33% of businesses say a slow roll-out of the Covid-19 vaccination programme is the single biggest risk facing their organisation, according to new research by the Institute of ...

Irish banks ‘latecomers’ on digital services – Deloitte study

Irish banks lag behind their global counterparts when it comes to their digital services offering. This is according to a study of banks globally carried out by professional ...

Firms alerted to Brexit requirements that apply to some workers

Irish companies employing UK nationals working in other EU member states are being alerted to changes arising from Brexit which mean that their employees are now subject to ...

Government €160m Boost to Covid Business Grants

New Scheme targets businesses currently ineligible for CRSS & other sector specific grants Wholesalers, suppliers, caterers & events companies down 75% or more in turnover expected to benefit ...

Warned over financial cost of Covid restrictions, construction may reopen 5 March

The Government has been warned that the financial costs of continued restrictions are very large and that the short-term economic outlook has worsened due to the current Level ...

Revenue apologises to hauliers for import system problems

Revenue has apologised for ongoing intermittent performance problems with its main import system. This has led to difficulties and delays for businesses trying to bring goods into the country ...

Security to the fore as firms and consumers opt for digital in greater numbers

Almost half of Irish small businesses surveyed by payments company Visa said they were now offering contactless payments options to their customers for the first time. That is ...

Brexit pushes cost of buying used car from UK higher

Revenue has warned that anyone buying a used car from the UK needs to be aware of the significant additional costs that may apply, following the end of ...

Lowest rate of rental inflation in nine years as Dublin prices fall in the year – daft.ie

It was a tale of two rental markets in 2020 with monthly rents in the capital down 3%, but outside of Dublin, rents were up 5%, the latest rental ...

Steep fall in construction activity as sites remain shuttered

There was a sharp reduction in construction activity in January as the industry was largely shuttered under the latest Government restrictions introduced to curb the spread of Covid-19. ...

Small businesses urged to use available Brexit supports ahead of LEO meeting

The Local Enterprise Office network is holding a webinar for small businesses today on changes to the trade regime since the UK left the EU at the start ...

New guidelines on personal injury damages to be considered

A full meeting of the Judicial Council will consider draft guidelines which, if adopted, will recalibrate the level of damages that can be awarded to claimants involved in ...

Late year surge in home completions brings 2020 close to 2019 levels

There was a big increase in the number of housing projects completed in the final three months of last year, new Central Statistics Office figures show.  That push ...

EU concern over tone of Gove’s demands on NI Protocol

EU sources have expressed concern over the tone of Michael Gove’s letter to his European Commission counterpart on changes the UK is demanding to the Northern Ireland Protocol. ...

Covid-19 unemployment rate climbs to 25% in January – CSO

The Covid-adjusted rate of unemployment rose to 25% in January, up from 19.4% in December, according to the latest figures from the Central Statistics Office. Restrictions, including the ...

Euro zone inflation rate surges in January

Euro zone inflation surged well past expectations last month, driven by rising energy costs and a German tax increase, posing a potential communications challenge for the European Central ...

Services activity tumbles after new lockdown – PMI

The country’s services sector contracted last month at the sharpest rate since the economy was emerging from an initial Covid-19 lockdown last May after the Government imposed its ...

Euro zone GDP falls less than expected at end of 2020

The euro zone economy contracted less than expected in the fourth quarter of 2020 amid pandemic-induced lockdowns, initial EU estimates showed today. But the euro zone may be ...

Savings continue to rise as debt levels fall – Central Bank

Household savings continue to rise and debt levels continue to fall, according to the latest figures from the Central Bank.  The Central Bank’s quarterly financial accounts show that ...

PUP numbers increase by less than 1% in the last week

Almost 480,000 people will receive the Pandemic Unemployment Payment this week, an increase of 4,269 or less that 1%, according to the latest figures from the Department of ...

Minister to seek ban on oil and gas exploration

Minister for Transport, Environment and Climate Eamon Ryan will today seek Cabinet approval to introduce legislation to ban oil and gas exploration. Mr Ryan is aiming to add ...

Consumer caution urged over fake ‘Irish’ websites post-Brexit

Consumer experts have warned online shoppers they should not be duped by fake ‘.ie’ websites, or they could face additional taxes and duties on what they buy. This comes post-Brexit and a ...

Volume of goods into Irish ports from UK down 50%

A month after the end of the Brexit transition period, authorities say the volume of goods coming into Irish ports from the UK remains at around 50% of ...

Manufacturing sector growth slows sharply on Brexit, Covid-19

The pace of growth in the manufacturing sector slowed sharply to a three-month low in January as Britain’s exit from the European Union’s trading orbit combined with Covid-19 ...

New €55m fund to aid tourism businesses hit by pandemic

A new €55m fund to assist tourism businesses that have been impacted by the Covid-19 pandemic is to be launched later today. The Tourism Business Continuity Scheme, announced ...

Public debt set to increase to €47,700 per person – Finance

The national debt stood at more than €219 billion at the end of last year, equivalent to €44,000 for every person in the country, according to a new ...

Pandemic reduced greenhouse gas emissions in Ireland by almost 6% – study

Greenhouse gas emissions fell in Ireland because of the pandemic, a new study shows. The dramatic declines in economic activity and transport in 2020 translated into greenhouse gas ...

Rebound in mortgage lending in final months of 2020

The value of mortgage approvals in 2020 exceeded €10 billion, despite a slump in lending in the early months of the pandemic. This is according to figures for ...

Hauliers going to France urged by Govt to pre-book antigen test

The Government is urging hauliers heading to France from tomorrow onwards to pre-book antigen testing before they travel, because of the new French requirement for a negative Covid-19 ...

Business angel investing grew in 2020, despite pandemic

Business angels invested over €14m in start-ups across the island of Ireland in 2020, despite the pandemic induced restrictions throughout the year. This is according to the latest figures ...

Record number of new .ie websites registered in 2020

A record number of new .ie Irish websites were registered in 2020, according to a new report by .IE, which manages and administers Ireland’s country domain name .ie. Over ...

Survey looks at employers’ view on vaccinations

Thousands of employees could face dismissal or problems in being hired if they refuse to be vaccinated, according to research by human resources technology firm HRLocker. The survey of 750 senior ...

Consumer confidence falls, as Covid worries grow

Consumer sentiment dropped sharply in January as the number of Covid-19 cases surged following the Christmas period, a survey found today.  The KBC Bank Ireland consumer sentiment index ...

Contactless payments topped a record €1bn last December

Irish consumers are tapping their payment cards more than ever. Last December spending using contactless payments topped €1 billion for the first time ever. In the last three months ...

No sudden withdrawal of fiscal measures – Donohoe

The Minister for Finance has said there will be no sudden withdrawal of the fiscal stimulus measures put in place across Europe to deal with the Covid-19 pandemic. ...

Irish port volumes steadily rising but still lower than last year

The quantity of goods passing through Irish ports from the UK remains around half of what it was this time last year, nearly four weeks after the Brexit ...