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AI-enabled workforce critical for future investment – IDA

IDA Ireland has said that an AI-enabled workforce is critical to transforming Ireland’s enterprise base and supporting future investment in the country. The agency has published its latest ...

Households saved €19 billion in 2023 – CSO

New figures from the Central Statistics Office show that households saved 12.09% of their income in the last quarter of 2023 – and 12.4% in 2023 as a ...

Global IPO activity ‘cautiously optimistic’ in Q1

The global IPO market began the year on a cautiously optimistic note, according to analysis by EY, with activity declining in volume in the first quarter of the ...

ECB expected to hold rates steady when it meets today

The Governing Council of the European Central Bank (ECB) will consider whether to make any changes to interest rates at a meeting in Frankfurt later today. But markets ...

Irish mortgage rates edge higher in February – Central Bank

New figures from the Central Bank show that average mortgage rates in Ireland rose to 4.29% in February from 4.27% in January. The euro zone average mortgage fell ...

WTO eyes global trade rebound but warns of risks

The World Trade Organization said today that global trade should rebound this year from an unexpected slump in 2023, but warned that regional conflicts, geopolitical tensions and economic ...

Supreme Court rules personal injuries awards guidelines legally binding

The Supreme Court has ruled that guidelines on personal injuries awards voted into force by Ireland’s judges three years ago are legally binding and remain in force. In ...

Euro zone banks lower bar on mortgages but demand keeps falling – ECB

Euro zone banks lowered the bar on mortgage approvals last quarter for the first time in over two years but demand for credit kept falling amid high borrowing ...

60% would turn down a job that does not offer hybrid work

60% of people would turn down a job if it did not offer hybrid working, new data shows. The latest Cpl Salary Guide reveals that 66% of those ...

Higher level of affinity for family business in Ireland

Nearly three quarters of third level students who come from a family business background believe that the next CEO of the firm will be a family member, according ...

NAMA sought resolution unit as part of wind down

The State’s bad bank asked the Government to set up a ‘NAMA resolution unit’ because there was no way they could finalise all legal cases, insolvency, and property ...

Live Register figures ease by 0.2% in March – CSO

New figures from the Central Statistics Office show that the seasonally adjusted Live Register total for March decreased by 400 to 174,500 people – a fall of 0.2%. ...

AIB, EBS and Haven cut fixed Green mortgage rates by 0.2%

AIB and affiliates EBS and Haven are cutting the fixed rates on their “Green Mortgages” by 0.2%. The changes will take place from tomorrow and will be available ...

Record March for wind energy production

The amount of electricity produced by wind hit a new record for March last month, new data shows. 1,541GWh of power was generated by wind farms here during ...

Euro zone investor morale hits two-year high in April

Investor morale in the euro zone improved for the sixth consecutive month in April to its highest level in more than two years, a survey showed today, adding ...

Govt publishes bill paving way for pension auto-enrolment

The Government has published a bill which will pave the way for 800,000 workers to be brought into a pension scheme for the first time. Publishing the Automatic ...

Office leasing in Dublin falls in first quarter

There was a drop in the amount of office space leased in Dublin in the first quarter of the year, new data shows. Research from commercial real estate ...

Over €25 million stolen in investment fraud last year, say gardaí

Gardaí have said over €25 million was stolen in investment fraud last year, a crime which has increased by over 90%. Almost 1,000 people have reported an investment ...

Drop in injury claims’ costs but premiums rise by 8% – NCID report

The average cost of settling public and employer liability claims through the Injuries Resolution Board dropped by a third in 2022 compared to 2020, according to a new ...

Euro zone inflation unexpectedly eases, boosting rate cut case

Euro zone inflation fell unexpectedly last month, solidifying the case for the European Central Bank to start lowering borrowing costs from record highs. Consumer price growth in the ...

Service sector grows at fastest pace in eight months

The service sector grew at its fastest pace in eight months in March, new figures show. The latest AIB Purchasing Managers’ Index (PMI) reveals that the index reached ...

ECB’s Holzmann says warming to June rate cut but keeping an eye on Fed

The European Central Bank could start cutting interest rates in June as inflation may fall quicker than expected but should not get too far ahead of its US ...

Inflation falls below 2% for first time since June 2021 – flash CSO reading

Annual inflation in Ireland fell below the euro zone-wide target of 2% for the first time in almost three years after slowing to 1.7% in March, a flash ...

Unions join forces in call for major reforms of workers’ rights

Several of Ireland’s largest trade union groups have joined forces calling for a major reform of workers’ rights. The Respect at Work campaign says there should be cross ...

Cost of second hand homes in Dublin rise 1.9% in first quarter

The average price of a used property in Dublin rose 1.9% between January and March compared to the previous three months, new data from DNG shows. That’s more ...

Pension auto-enrolment: What is it and what will it cost?

After decades of discussion and debate, the prospect of workers being automatically added into a private pension scheme took a step closer this week. On Wednesday the Cabinet ...

Manufacturing contracts again in March – PMI

The manufacturing sector contracted in March after briefly returning to growth a month earlier, a survey showed today, with confidence among firms also slumping to the lowest level ...

€10m paid out so far under €125m mortgage interest relief scheme

Just €10m has so far been paid out in mortgage interest relief under the Government scheme announced in the budget, despite €125m being allocated for it. 12,107 PAYE ...

Cabinet approves Bill to introduce pension auto-enrolment

Draft legislation designed to set up the new pension auto-enrolment system has been approved by the Cabinet. If enacted, the Automatic Enrolment Retirement Savings System Bill will result ...

Price increases in store for consumers from Monday

Inflation in Ireland has fallen significantly in recent months, but a number of cost increases will weigh on consumers from next Monday. From midnight on 1 April, the ...

Bill to introduce pension auto-enrolment scheme to go before Cabinet for approval

The Minister for Social Protection will seek Cabinet approval today for draft legislation designed to set up the new pension auto-enrolment system. If enacted, the Automatic Enrolment Retirement ...

Record levels of first-time mortgages approved in Feb

Mortgage approvals for first-time buyers hit a record annualised high in February. Figures from Banking and Payments Federation of Ireland (BPFI) show that in the year to the ...

ESRI forecasts return to growth in household incomes this year as inflation falls

The ESRI has upgraded its outlook for economic growth this year, amid falling inflation, an expected normalisation of exports and moderate expansion of the domestic economy. In its ...

Credit unions main lender for personal loans – research

Overall non-performing consumer loans at banks and credit unions remain near recent historical lows, despite a slight increase observed in new early arrears cases. That is according to ...

ECB confident wage growth slowdown on track – Lane

The European Central Bank is increasingly confident that wage growth is slowing back toward more normal levels, potentially opening the door to rate cuts, ECB chief economist Philip ...

Consumer sentiment falls in March amid ongoing caution

Consumer sentiment dropped again this month, new research has found, amid ongoing caution and concern. The Credit Union Consumer Sentiment Index found rising living costs and another increase ...

Wholesale electricity prices down almost 47% in past year

There was a decrease in the price of wholesale electricity in February 2024 with prices 15.3% lower than the previous month. The price of electricity was 46.8% lower ...

Europe’s IPO market hits bump but recovery still on course, bankers say

A strong debut by Swiss skincare company Galderma on Friday is steadying nerves around Europe’s IPO market, a day after a poorly received listing from German retailer Douglas, ...

House prices spike in counties Cavan, Longford and Tipperary

House price increases in lower-priced counties soared above the national average in the first three months of the year as buyers chase affordability, the latest REA Average House ...

Housing commencements up 85% year-on-year

Notices that work was beginning on 3,699 new homes across the country were received in February, new data from the Department of Housing shows. This is up 85% ...

ECB rate cut probability increasing, Nagel says

Euro zone inflation is set to fall back to the European Central Bank’s 2% target by next year so an interest rate cut could come possibly as soon ...

EU leaders to back tighter euro zone fiscal stance in 2025

European Union leaders will today back a slightly tighter fiscal policy for the euro zone next year, to help bring down inflation and make public finance more stable ...

New State induced employment supports to cost tourism sector €456m this year

State-induced employment support measures will increase payroll costs for the tourism sector by €456m this year, a new analysis claims. Between now and 2026, the cost of the ...

UK posts bigger than expected budget deficit in February

Britain posted a larger budget deficit than expected in February, boosted by cost of living payments and the effect of past inflation on the public finances, official data ...

Residential property prices rise by 5.4% in January – CSO

New figures from the Central Statistics Office show that residential property prices rose by 5.4% in the 12 months to January, up from 4.1% the previous month. The ...

€750m paid to Revenue in unpublished tax settlements last year

Almost €750m was paid last year to Revenue in unpublished tax settlements with more than €200m of that linked to the finance and insurance industries. The Revenue Commissioners ...

McGrath to update Cabinet on new EU fiscal rules

Minister for Finance Michael McGrath will update Cabinet this morning on new EU fiscal rules which will require every member state to publish their net expenditure plans for ...

Housing remains the top challenge for US firms here

Housing is viewed as the top challenge for US firms operating here, a survey of members of the American Chambers of Commerce in Ireland has found. 98% of ...

ECB ready in June to discuss rate cuts, de Guindos says

The European Central Bank will be in position to discuss an interest rate cut in June, Vice President Luis de Guindos said today, joining a long list of ...

Irish exports jump 22% as pharmaceuticals rebound – CSO

Irish exports jumped 22% in January when compared to the same month of 2023, according to the Central Statistics Office. There were more than €18.9 billion in exports ...

Cost of a fry-up rose by 3.1% in the past year – CSO

The cost of a fry-up has risen by 3.1% in the past year, according to the Central Statistics Office. That figure is based on the data the CSO ...

0.35% rate cut likely for tracker mortgage customers in September

The holders of tracker mortgages in Ireland look set to benefit from a 0.35% reduction in their interest rates in September. The development follows a technical change by ...

Pace of inflation continued to ease in February – CSO

The rate of inflation continued to ease last month, according to new data from the Central Statistics Office. Consumer prices rose by 3.4% in the year to the ...

Consumer queries to CCPC increase by 20% in 2023

Consumer queries to the Competition and Consumer Protection Commission were up 20% last year, with faulty goods and services being the subject of most contacts. Almost 40,000 people ...

Concern as credit funds increase borrowing from banks

Europe’s private credit funds are increasingly borrowing from banks to boost their performance, fuelling concerns about the wider risks posed by this interconnectedness. A record 80% of new ...

What’s included in the new EU law on AI

The European Parliament has given the final nod to far-reaching rules on artificial intelligence that the EU hopes will both harness innovation and defend against harms. The law, ...

Mortgage rates rose in January to seventh highest in eurozone

The average interest rate on new mortgages in Ireland rose in January, according to new data from the Central Bank. At the end of the month, the average ...

Slight fall in household saving at the end of 2023 – CSO

New figures from the Central Statistics Office show that the rate of household saving fell slightly in the last three months of 2023 and in the year as ...

Central Bank said mortgage interest relief not focused on those suffering from rising rates ‘shock’

The Central Bank told the Department of Finance a scheme for mortgage interest relief would almost exclusively benefit homeowners aged over 40 who were the least likely to ...

Central Bank revises down forecast for domestic economy this year

The Central Bank has revised downwards slightly its forecasts for growth in the domestic economy this year, but still expects that it will continue to grow at a ...

ECB rate cut coming, but not just yet, says Governing Council’s Kazimir

The European Central Bank is increasingly confident that inflation is coming down, but should still hold off on an interest rate cut until June, Slovak Governing Council member ...

A fifth of motorists are planning to get rid of their car, survey finds

One in every five car owners are planning to get rid of their car over the coming years, new research has found. The rising cost of running a ...

House construction growth could stall in 2024 – BNPPRE

Construction activity continued to contract in February, but at a slower pace than a month earlier, new data shows. The BNP Paribas Real Estate Ireland Construction Index climbed ...

78% of consumers feel they are “doing what they can” to be sustainable

Three quarters of Irish consumers feel they are doing as much as they can, within their means, to be sustainable, a new survey from EY has found. The ...

New wind farm a ‘significant step’ in meeting renewable energy targets

The Chief Executive of Bord na Móna has said the Oweninny Wind Farm, which is set to be Ireland’s largest onshore wind farm, represents a “significant step” towards ...

Live Register figures down 1.2% in February – CSO

New figures from the Central Statistics Office show that the seasonally adjusted Live Register total for February fell by 1.2% to 174,600 people, a decrease of 2,100 from ...

NAMA on track to complete wind-down by 2025

Finance Minister Michael McGrath has today confirmed that NAMA will complete its wind-down by the end of 2025 while the Special Liquidation of Irish Bank Resolution Corporation (IBRC) ...

China’s trade surges in first two months of 2024

China’s exports sharply accelerated in the first two months of 2024, official figures showed today, providing policymakers a bright spot as they battle to revive the world’s second-largest ...

Central Bank launches consultation on new consumer code

Enhanced clarity, predictability and accessibility on consumer protection obligations are among the key aims of a new Consumer Protection Code being developed by the Central Bank. As part ...

Grocery price inflation falls for 10th month in a row

Grocery price inflation fell for the tenth month in a row in February, new figures show today, with the decline expected to continue during the rest of the ...

Cabinet to discuss energy top-up payment for businesses

Businesses in the retail and hospitality sectors are in line for a top-up payment of up to €3,000 in the Energy Efficiency Grant, under proposals Minister for Enterprise ...

Service sector growth picks up in February, PMI survey shows

The service sector here grew at its fastest pace in five months in February after slowing to a near standstill a month earlier, as firms reported rising levels ...

OECD warns of urgent need to take action on disinformation

A new OECD report has found that there is an urgent need to take stock of anti-disinformation policies in countries around the world and to set a path ...

Ireland lagging on retail payments Central Bank warns

Ireland lags other part of Europe when it comes to retail payments, the Central Bank has claimed. The result is an unsatisfactory situation for both consumers and businesses ...

Euro zone business activity moves closer to recovery – PMI

Business activity in the euro zone showed signs of recovery last month as the bloc’s dominant services industry expanded for the first time since July, offsetting a deeper ...

Ireland ahead of US, Germany and France for remote working opportunities

More than 15% of job postings in Ireland offer remote or hybrid work opportunities, ranking the country ahead of Germany, France and the US, but behind the UK, ...

Manufacturing activity improves, production volumes rise

Business condition in the manufacturing sector improved in February, the latest AIB Purchasing Managers Index shows. It comes as production growth accelerated to the highest in 22 months, ...

Mortgage approvals down across all groups, except FTBs

The slowdown in the mortgage market is continuing, driven by a declining numbers of switchers and mover purchasers. The latest figures from Banking and Payments Federation Ireland show ...

ECB waiting for data before starting to cut interest rates

Inflation in the euro zone is expected to fall further but the European Central Bank needs more data before starting to cut interest rates, ECB Vice-President Luis de ...

CEOs in Ireland more optimistic than in previous two years, research shows

CEOs in Ireland are more optimistic than in the previous two years as businesses adjust to geopolitical challenges, a new survey shows. The research carried out by business ...

Central Bank warns of risks coming from payment and e-money sector

The Governor of the Central Bank has warned of the heightened risk level associated with both the payment and e-money sector and the investment fund sector. Gabriel Makhlouf ...

Weekly earnings rose at half the rate of inflation in fourth quarter

New preliminary estimates from the Central Statistics Office show that average weekly earnings stood at €921.81 in the fourth quarter of 2023, up 2.1% compared with €902.56 in ...

Access to Cash Bill may damage competition in banking sector, BPFI warns

The organisation representing the banking sector has warned that certain provisions contained in draft legislation aimed at ensuring continued availability of cash services pose a very real risk ...

Internet watchdog ‘not an online censor’, committee to hear

The Digital Services Commissioner at media regulator Coimisiún na Meán will tell an Oireachtas committee that it is not their job to act as an online censor. John ...

ESRI estimates strong MDD growth of 3.7% in December

A new estimate suggests that the domestic economy here grew reasonably strongly in December, despite challenging conditions. The “Nowcast”, produced by the Economic and Social Research Institute, predicts ...

A third of workers have no cover outside of State pension

68% of workers aged between 20 and 69 have some form of pension cover outside of the State pension, new figures from the Central Statistics Office show. The ...

Commercial vacancy rate at highest in a decade

The commercial property vacancy rate nationally has increased to its highest level since GeoDirectory started tracking the data a decade ago. According to its latest Commercial Buildings Report, ...

Thousands facing mortgage bill hike as fixed terms end

While tracker and variable mortgage customers have borne the brunt of the European Central Bank’s interest rate raising programme, those who managed to fix at the right time ...

WTO meets with calls for consensus amid geopolitical tensions

The World Trade Organization today opened a high-level ministerial meeting in Abu Dhabi with calls for consensus as geopolitical tensions and the looming US election undermine chances of ...

Consumer sentiment dips in February after January bounce

Consumer sentiment fell again in February, undoing some of the gains it made a month earlier. The Credit Union Consumer Sentiment Index dropped to 70.2 in the month, ...

Location for EU Anti-Money Laundering Agency to be decided

The competition to select a city to host the new EU Anti-Money Laundering Agency (AMLA) will get underway in Brussels today, with Dublin in contention along with eight ...

Ireland’s national debt stands at €42,000 per capita

Ireland’s national debt continued to fall last year but remains one of the highest in the world at €42,000 per capita, the Department of Finance’s report on public ...

Vast majority of Irish tech start-ups embracing AI – survey

The vast majority of Irish tech start-up and scaling companies are deploying or preparing to deploy artificial intelligence (AI) according to a new survey. The research from Scale ...

Big jump in cyber-attacks using stolen identities – IBM

There has been a 71% global spike in cyber-attacks involving stolen identities according to IBM. Its latest X-Force Threat Intelligence Index found there was a growing trend in ...

Credit Unions report mortgage lending up 15%

Mortgage lending at credit unions was up 15% in the last three months of the year, with the mortgage book now over €500m for the first time. The ...

Lower income households disproportionately hit by effects of indirect taxes

Lower income households are disproportionately hit by the effects of indirect taxes like VAT and carbon taxes when compared to those with higher incomes, a new analysis has ...

Increase in SMEs’ interest in green supports – survey

A new report shows the level of small and medium-sized businesses who are interested in grants to help them invest in sustainable measures increased by over 40% in ...

New online safety rules come into force across EU

The European Union’s new online safety rules come into full force today in Ireland and across the EU. The Digital Services Act requires online platforms to do more ...

Faulty goods, services cost nearly €1bn last year – CCPC

The cost to consumers in Ireland to deal with faulty goods and services last year was close to €1 billion, according to the Competition and Consumer Protection Commission ...

European Commission cuts Irish growth forecasts to 1.2% from 3%

The European Commission has today revised down its expectations for the performance of the Irish economy in its Winter 2024 Economic Forecast, which was published today. The Commission ...

Inflation slows to 4.1% in January from 4.6% in December – CSO

The annual rate of inflation fell to 4.1% in the 12 months to January from 4.6% in December, new figures from the Central Statistics Office show today. This ...

Ireland to assume new EU online safety powers from tomorrow

Ireland’s media regulator Coimisiún na Meán has said it is ready to assume new EU online safety powers from tomorrow. It has been tasked with enforcing the Digital ...

ECB needs more data but inflation going in right direction – Lagarde

Euro zone economic data indicates that inflation is heading back towards target as earlier predicted but the European Central Bank still needs more information before it can be ...

Euro zone Q4 GDP confirmed flat on a quarterly basis

Euro zone economic growth was flat in the last three months of the 2023 against the previous quarter and up 0.1% against the same time in 2022, Eurostat ...

Germany overtakes Japan as world’s third-biggest economy

Once forecast to become the world’s biggest economy, Japan slipped below Germany last year to fourth place, official data showed today, although India is projected to leapfrog both ...

Romance fraud warning as €7m stolen over five years

People have been urged to beware of romance scams and criminals who are seeking to take advantage of the increased popularity of dating apps this St Valentine’s Day. ...

US consumer prices rise more than expected in January

US consumer prices increased more than expected in January amid rises in the costs of housing and healthcare, but the pick-up in inflation likely does not change expectations ...

Government approves public sector pay deal

The Government has given formal approval to the public sector pay deal agreed last month. Following negotiations at the Workplace Relations Commission (WRC), unions, staff associations and government ...

Labour and materials continue to drive construction costs higher

Labour and raw material costs continue to drive pricing higher in the construction sector, new research has found. The Construction Industry Federation Construction Outlook Survey for the first ...

Contraction in construction at lowest level since October

Construction activity contracted for the seventh consecutive month in January, but by the smallest amount since October. Housing activity, while reducing further, slowed by the least extent since ...

New plan aims to improve childcare policy for parents and providers

Chartered Accountants Ireland has outlined a plan aimed at improving childcare policy for the benefit of both providers and parents. The institute has proposed a series of steps ...

Oil prices slip after rally last week on Middle East, tight supply

Oil prices slipped today as investors indulged in some profit-taking after both benchmarks ended last week about 6% higher on Middle East tensions and as refining outages squeezed ...

Advertising spend predicted to grow 4.1% in 2024 – Core

Advertising spend is predicted to grow by 4.1% this year, according to marketing advisory firm Core. That marks a slightly slower pace of growth than the 4.6% seen ...

ICTU recommends private sector pay increases of 4% to 6%

The Irish Congress of Trade Unions (ICTU) is recommending that unions in the private sector should seek to secure pay increases in the range of 4% to 6% ...

Over a third of electricity produced by wind power last month

A report today shows that more than one third of electricity used in Ireland last month was generated by wind power. The latest figures, published by Wind Energy ...

Personal loan draw downs hit new high, car loans surge

The volume and value of personal loan draw downs reached a new high between July and September last year, new data shows. The figures from Banking and Payments ...

Over supply of Dublin offices could continue until 2027

The over supply of office space in Dublin could continue until the end of 2026 or start of 2027, new research suggests. The study by BNP Paribas Real ...

New tenancy rents rose faster than existing ones last year, says RTB

Rents in new tenancies went up faster than in existing tenancies, according to new figures from the Residential Tenancies Board (RTB) for July to September last year. National ...

Dublin Airport expansion ‘essential’ for economic growth, says Chambers

Minister of State Jack Chambers has said he believes the personal criticism of Minister for Transport Eamon Ryan by Ryanair CEO Michael O’Leary was “very unfair”. “I think ...

Tech employers faced with wage pressures and talent shortages

Employers in the tech sector are facing challenges when it comes to wage pressures and the availability of talent. According to the 2024 Stelfox Salary Guide Survey, 70% ...

Tax take rises in January, driven by VAT, income tax

The amount of tax collected by the State increased by almost 5% in January when compared to the same time last year, driven by strong VAT and income ...

Weakest pace of services expansion in 3 years in January – AIB PMI

There was a marked slowdown in the rate of expansion in activity in the services sector in January, according to AIB in its latest Purchasing Managers’ Index. The ...

Global economy to fare better than thought in 2024 – OECD

The global economy is on course to hold up better this year than expected only a few months ago as an improved outlook in the United States offsets ...

Interest cut on tax debt warehoused by businesses since Covid

Minister for Finance Michael McGrath has announced that the interest rate on tax debt frozen since the pandemic has been cut to 0%. The Revenue Commissioners have also ...

Inflation estimated to have slowed to 2.7% in January from 3.2% in December

The latest figures from the Central Statistics Office show an easing in the estimated annual rate of inflation in January. The latest “flash” inflation estimate from the CSO ...

Construction costs rise but rate of increase eases – SCSI report

Construction costs are continuing to rise, but the rate of increase eased significantly in the second half of last year, the latest Tender Price Index from the Society ...

Investment scams growing in frequency and complexity – BPFI report

Consumers are being warned to be on the alert for elaborate investment scams involving online and mobile banking transfers. Figures from FraudSMART, the fraud awareness initiative led by ...

Euro zone narrowly avoids technical recession in Q4

The euro zone’s economy stagnated last year, weighed down by an industrial malaise in Germany, its former powerhouse, data showed today. The 20 countries that share the euro ...

Mortgage interest relief scheme opens for homeowners

From today, PAYE taxpayers can submit claims for mortgage interest relief for last year. The relief aims to help homeowners who have borne the brunt of interest rate ...

New controls on exports from Ireland to Britain begin

New controls on imports entering Britain from the Republic of Ireland have come into effect. The changes, which are a result of Brexit, require firms to pre-lodge customs ...

Turnover in Irish investment property market down 70%

Turnover in the Irish investment property market dropped almost 70% last year to €1.85bn when compared to 2022 – the lowest since 2012. A new report by BNP ...

Job vacancies down 28% in final quarter of last year

Job vacancies fell 28% in the final three months of last year, compared to the same period in 2022. According to IrishJobs the number of open positions advertised ...

Offshore wind could be worth at least €38bn to economy

The development of offshore wind in Ireland could be worth at least €38 billion to the economy, a new study has estimated. However, the report produced for Green ...

GDP down 1.9% in 2023, CSO’s preliminary estimate shows

New preliminary figures from the Central Statistics Office show that the country’s GDP is estimated to have fallen by 0.7% in the fourth quarter of 2023 when compared ...

Falling energy prices help boost consumer sentiment – survey

Falling energy prices and announcements of grocery price cuts have boosted consumer sentiment at the beginning of 2024, according to the latest Credit Union Consumer Sentiment Index. The ...

Social welfare recipients to receive double payment this week

Around 1.3 million social welfare recipients will receive a double payment this week. Up to €342m will be paid out to pensioners, carers, people with disabilities, lone parents ...

10% increase in number of new homes completed last year – CSO

A total of 32,695 new homes were completed last year, up 10% on a year earlier, new data from the Central Statistics Office shows. It follows the completion ...

Global economy outlook at odds with aggressive rate cut bets

Global growth is set to stay resilient this year and only pick up pace a bit in 2025, according to a Reuters poll of economists, a stable outlook ...

Mortgage drawdowns decline but first time buyers active in 2023

Overall mortgage drawdown volumes declined in 2023, new figures from Banking and Payments Federation Ireland show, but the reduction was driven largely by a falloff in switching and ...

ECB to meet on rates, but no changes expected

The ECB’s Governing Council will meet in Frankfurt today to consider whether to make any changes to interest rates. No adjustments are expected though, despite some progress being ...

Nearly 30,000 housing units held up in planning or legal review – report

Up to 29,000 housing units are being held up in the planning process or in judicial reviews, a new report from construction consultancy Mitchell McDermott has found. That ...

Property price growth increases to 2.9% in November – CSO

Property price growth picked up on an annual basis for the third successive month in November, increasing by 2.9% after prices rose by 0.8% on a monthly basis, ...

New proposals to keep cash in circulation welcomed

The Chief Executive of Irish Rural Link has welcomed proposed legislation that will keep cash circulating in society as more people turn to digital payments. Under plans being ...

Enterprise Committee to discuss minimum wages

The Oireachtas Committee on Enterprise, Trade and Employment will discuss the regulatory and legislative changes required for the transposition of an EU directive on minimum wages. The Directive ...

Professional employment market stabilising

The professional jobs market is showing signs of stabilising with a 30% decline in the number of job seekers and an 18% drop in the number of vacancies ...

Jump in new homes under construction, vacancy rate dips

The number of new homes under construction has jumped, while the residential vacancy rate has dipped, a new report shows. The data from GeoDirectory, a database of commercial ...

€129.5m paid out under film tax relief scheme last year

New movies starring Cillian Murphy and Jamie Dornan were some of the big winners in the Section 481 film corporation tax credit scheme for the Irish movie and ...

New remote working rules expected this month

The Workplace Relations Commission (WRC) is expected to complete a new code of practice on the right to request remote working by the end of this month. The ...

Majority want stricter regulation of social media algorithm – survey

Almost three-quarters of Irish people believe that social media algorithms, that select the content users see, should be regulated more strictly. The findings are contained in new research ...

Engineering and construction among hardest to fill jobs

New data shows that instrumentation engineers, ad reviewers, and mechanical and electrical project managers are the most difficult jobs to fill. The ‘Hardest to Fill Jobs’ analysis of ...

Ibec says Government-imposed labour costs are adding €4bn to employer wage bill

Employers group Ibec has written to the Taoiseach to highlight concerns about the rising cost of doing business, and specifically the pace and scale of Government-imposed labour costs. ...

Stamp duty on block-buying homes to be reviewed

Minister for Housing Darragh O’Brien has said that the 10% stamp duty rate, which is applicable to international investors who buy more than ten residential properties, will be ...

Number of new homes under construction hits record high

Building work began on 32,801 new homes last year, the highest number on record, new data shows. The figure for commencement notices lodged in 2023 compares to 26,957 ...

Oil prices rise on strong IEA and OPEC demand estimates

Oil prices rose today as the International Energy Agency (IEA) joined producer group OPEC in forecasting strong growth in global oil demand and as cold winter weather disrupted ...

Wage growth in Ireland eases to 3.7%

Wage growth in Ireland slowed at the end of 2023 and has dropped to 3.7% year-on-year, according to a new report from jobs site Indeed and the Central ...

Ireland top European country for data fines

Ireland has once again topped a league table of European countries for issuing data fines. The 2024 edition of global law firm DLA Piper’s annual GDPR and Data ...

Taoiseach to meet world leaders and CEOs in Davos

Taoiseach Leo Varadkar is in Davos for the World Economic Forum, which has so far been dominated by the conflicts in the Middle East and Ukraine. Mr Varadkar ...

Inflation rate moves up to 4.6% in December – CSO

The annual rate of inflation rose in December, driven by increases in prices in areas such as restaurants and hotels, mortgage interest repayments and rents and package holidays. ...

Plan launched for future of digital creative industries

The Government has launched a plan to boost growth in the digital creative industries. The roadmap will focus on commercial design, digital games and content creation including advertising ...

Minister assures flexibility over tax debt warehousing scheme

Minister for Finance Michael McGrath has said the Government will introduce flexibilities to the Tax Debt Warehousing Scheme. Speaking to RTÉ News in Davos, Mr McGrath said: “We ...

Wind farms supplied 35% of electricity in Ireland in 2023

Wind farms supplied a record 35% of all electricity used on the island of Ireland last year, according to the annual report of Wind Energy Ireland. This saved ...

CSO: Exports down 3% in November to €16.5bn, imports up

Exports of goods from Ireland fell by 3% or almost €600 million in November 2023 when compared to the same time the previous year. In total, goods valued ...

Cybercrime top financial crime threat in Ireland, survey finds

Hacking, phishing, online scams, and other variations of cybercrime are thought to be the most prevalent financial crimes in Ireland, according to a new survey. The study was ...

38% of employers want workers back in the office in 2024 – survey

A new survey has shown that 38% of Irish employers will require their employees to spend more time in the office in 2024. The study from recruitment consultants ...

Higher hotel prices not deterring customers

More than 1,800 new hotel rooms came on stream here in 2023, bringing total stock to an estimated 66,200, an analysis by Deloitte has concluded. But the new ...

Construction activity contracts for a sixth month

There was a contraction in construction activity for the sixth month running in December, the latest Purchasing Managers’ Index for the sector from BNP Paribas Real Estate Ireland ...

Changes to salary thresholds for sponsored foreign workers may hit SMEs

Many small and medium sized businesses may struggle to retain existing staff due to upcoming changes to the required salary thresholds for some workers from outside the European ...

Household saving rate eases to 10% in Q3 from 11% – CSO

The savings rate among households here has fallen back to pre-pandemic levels, according to the latest figures from the Central Statistics Office. The latest National Accounts data shows ...

Varying regulation within EU a top barrier for trade, new research shows

Varying regulation across the EU is the top challenge for businesses trading across borders, new research shows. The latest survey by Eurochambres, of which Chambers Ireland is a ...

Energy costs set to fall by 18% this year – analyst

Some relief may be in store for Irish households and businesses when it comes to energy costs, with one analyst predicting the short-term power market price in Ireland ...

Consumers more optimistic on economy – PTSB

Consumers are more optimistic about the outlook for the economy than was the case a year ago, according to the latest Reflecting Ireland survey from PTSB. Less than ...

Average interest rate on new mortgage falls slightly, Central Bank data shows

The average interest rate on a new mortgage in Ireland fell slightly again in November, new figures from the Central Bank show. The rate dropped from 4.27% in ...

Irish food and drinks exports declined in 2023 – Bord Bia

The value of Ireland’s food, drink and horticulture exports declined by 4% last year to reach €16.3 billion, following a record breaking year in 2022 when exports grew ...

Housing supply unlikely to improve in coming months, Lisney says

Housing supply is unlikely to improve in the coming months, a new report from estate agent Lisney suggests. However, it states that more rental homes will become available ...

Drop off in switching drives mortgage approvals lower

Mortgage switching activity dropped 75% last November when compared to the same time the previous year, new figures show. The latest report from Banking and Payments Federation Ireland ...

Record employment at Enterprise Ireland-supported companies in 2023

Enterprise Ireland has announced that net employment at its client firms grew by just over 5,000 last year to a record 225,500 in what was a “very challenging ...

Euro zone inflation rises to 2.9%, cooling case for ECB rate cuts

Euro zone inflation surged in December and could still go higher in the early part of 2024, easing financial markets pressure on the European Central Bank to start ...

Buoyant labour market boosts property prices

Ireland’s buoyant labour market had a significant effect on the housing market, reducing the negative impact of high interest rates on property prices last year. Asking prices for ...

Cyberattacks top concern for businesses in Ireland

Cyberattacks and data breaches are the top risks for Irish business, according to a new study. Aon’s Global Risk Management Survey gathered insights from 2,842 respondents across 61 ...

Euro zone business activity shrank again in December, pointing to recession

The contraction in euro zone business activity continued at the end of 2023 due to a persistent downturn in the dominant services industry, a survey showed today, indicating ...

Annual inflation rate climbs to 3.2% in December – flash data

The annual rate of inflation rose in December to 3.2%, the latest “flash estimate” from the Central Statistics Office shows. After falling from over 3.5% to 2.5% in ...

Exchequer surplus falls to €1.2 billion in 2023 from €5 billion in 2022

The Exchequer recorded a surplus of €1.2 billion in 2023, according to figures released by the Department of Finance. This compares with a surplus of €5 billion in ...

Service sector expansion sustained in December

Irish firms continued to report rising levels of new business, but the pace of growth slowed in December to the second weakest in 2023. The AIB Irish Services ...

US interest rates likely to stay high ‘for some time’

US Federal Reserve officials expect interest rates will need to remain high “for some time” to tackle stubborn inflation, according to minutes of the most recent rate decision ...

ECB’s cyber stress test will not affect capital requirements

The European Central Bank’s cyber resilience stress test in the coming months will not affect bank-specific capital requirements but instead form part of a broader supervisory assessment, the ...

Slight dip in manufacturing activity in December

There was a slight deterioration in business conditions in the manufacturing sector in December, the latest AIB Purchasing Managers Index showed. The headline index – which is measured ...

Up to €1,800 in refunds available to taxpayers

Taxpayers could be leaving up to €1,800 on the table by not availing of a range of yearly tax refunds, a consumer tax specialist has warned. Marian Ryan ...

Oil prices jump 1.5% in first session of New Year

Oil prices jumped 1.5% in the first session of the New Year, due to potential supply disruptions in the Middle East after a naval clash in the Red ...

Corporation tax rate increasing to 15% for some large firms

Hundreds of companies here will be liable to pay 15% corporation tax, as the biggest shake-up in the State’s corporate tax system in three decades is implemented. It ...

House price growth slowed in 2023 as supply dwindled

The rate of growth in prices being sought for properties listed on the market slowed in 2023, despite a significant drop in supply, according to the website, Daft.ie. ...

188,000 non-domestic water users may face higher bills next year

Up to 188,000 non-domestic customers of Uisce Éireann are facing higher bills for water and waste water treatment from October, if proposals from the regulator are adopted. The ...

NAMA transfers another €350m to Exchequer

The National Asset Management Agency has today completed a €350m cash transfer to the Exchequer as it approaches its orderly wind down. Today’s transfer brings the total cash ...

Consumer sentiment improves but anxiety remains

Consumer sentiment improved slightly in December and was significantly higher year-on-year, according to the latest report by the Irish League of Credit Unions. The latest survey had a ...

Oil prices set to end winning streak over US stock build

Oil prices fell today and were on track to snap a three-day winning streak, as concerns over low demand following a surprise US crude inventory build outweighed jitters ...

Govt makes significant changes to work permit system

The Government has announced the largest ever expansion of the employment permits system, in an effort to address the skills gap in a range of key areas amid ...

Quarter of employees expect to deal with work emails over Christmas – survey

More than a quarter of employees expect they will be responding to work emails over Christmas, according to a new survey. The Human Workplace Index from Workhuman found ...

Surge in flight bookings in January – AIB spending report

January was the busiest month for flight bookings this year as consumers sought to escape the winter blues, an annual review of AIB’s Spend Trend has revealed. Wednesday, ...

UK inflation rate falls to lower than expected 3.9% in November

British inflation plunged in November to its lowest rate in over two years, prompting investors to pile further into bets that the Bank of England will cut interest ...

ECB raises capital demands for 20 banks over bad loans

The European Central Bank said today it had raised capital requirements for 20 banks after judging they had not set aside enough cash to cover for loans that ...

Build costs up by almost 25% since 2019 – BPFI

Construction costs here have gone up by almost a quarter in the last four years, an analysis by the Banking and Payments Federation Ireland has concluded. In its ...

Central Bank predicts economy will shrink this year

The Central Bank has become the latest economic forecaster to predict that the economy will shrink this year. Its latest Quarterly Bulletin also shows that lower income families ...

Air passenger numbers in third quarter up 13% compared to last year

New figures from the Central Statistics Office show that almost 1.4 million more passengers used Irish airports in the third quarter of this year compared to the same ...

Prices at the pump down again in December – AA Ireland

The AA Ireland’s latest monthly fuel price survey has shown another drop in petrol and diesel prices over the last month. Petrol is down from €1.80 a litre ...

Euro zone likely in recession, PMI surveys show

The downturn in euro zone business activity surprisingly deepened in December, according to closely watched surveys which indicated the bloc’s economy is almost certainly in recession. It was ...

Inflation slows to 3.9% in November from 5.1% in October – CSO

The annual rate of inflation fell to 3.9% in November, new figures from the Central Statistics Office show today. This marks the first time since September 2021 that ...

Housing commencements up almost 30% in past year

Work began on 3,087 new homes across the State last month, according to commencement notices registered with the authorities. That’s up 18% on the 2,624 that were started ...

Short term mortgage arrears up 3% in third quarter

The number of mortgages on private homes that were in short term arrears of less than 90 days rose 3% between July and September compared to the previous ...

Fed flags end of rate hikes, sees lower borrowing costs in 2024

The US Federal Reserve held interest rates steady today and signaled in new economic projections that the historic tightening of US monetary policy engineered over the last two ...

ESRI further downgrades economic growth forecast

The Economic and Social Research Institute has further downgraded its forecast for growth in the economy this year. However, in its latest Quarterly Economic Commentary the think-tank says ...

EU agrees plan to boost conditions for app based “gig” workers

The European Parliament and EU member states have struck a deal on rules to strengthen conditions for those working through apps, such as ride-hailing drivers. Under the new ...

Average motor insurance premiums fell 7% last year despite rise in cost of damage claims

The average cost of a private motor insurance policy fell by 7% last year to €568, new data from the Central Bank has found. That is despite a ...

Interest rate on new mortgages dips in October – Central Bank

The average interest rate on new mortgages in Ireland eased very slightly in October, new data from the Central Bank shows. But at the same time the average ...

House price growth picks up to 2.3% in October – CSO

Residential property price growth picked up on a yearly basis for the second month in a row in October, Central Statistics Office figures showed today. Prices for residential ...

Retail Ireland predicting extra €1.1bn spend in December

Retailers are predicting an increase in household spending in the run-up to Christmas, despite cost-of-living pressures and the difficult economic backdrop for many. Retail Ireland, the Ibec group ...

Grocery price inflation falls again to 8.6%

Grocery sales are expected to exceed €1.4 billion for the first time ever in December, according to the latest predictions from Kantar. New figures from Kantar today show ...

Talks on fish quotas resume in Brussels

Talks between EU fisheries ministers to finalise quota arrangements for national fishing fleets for 2024 have resumed in Brussels Talks were suspended last night with firm proposals for ...

Stamp duty on health insurance policies reduced

The health insurance regulator has cut the level of stamp duty on all health insurance policies next year. The move should result in around three quarters of consumers ...

Revenue warns of tax implications for planning payments

Revenue has warned of “potentially serious consequences” for people who do not disclose payments they have received as part of the misuse of the planning appeals system. It ...

Construction activity falls for fifth month in a row

Construction activity fell in November, new data from BNP Paribas Real Estate Ireland has found. The fall in its Construction Total Activity Index is the fifth successive monthly ...

Christmas shopping set to peak on 23 December

Christmas shopping is set to peak on 23 December, new data from AIB shows. Its latest spend trend report shows that 2.8 million card transactions were carried out ...

Wind provided 37% of Ireland’s electricity in November

Wind provided 37% of Ireland’s electricity in November, new data shows. The latest report from Wind Energy Ireland reveals that November was the third highest month for wind ...

Gas demand sets new record for the month of November

The last three days of November saw exceptional levels of gas demand, new figures from Gas Networks Ireland show, amid a cold snap which saw a sharp increase ...

China says exports rise for first time in seven months

Chinese exports rose in November for the first time in seven months, officials said today, as the country navigates a troubled recovery from the Covid-19 pandemic. However, the ...

Around half of companies experienced a cyber incident – survey

Almost half of organisations in Ireland have encountered cyber incidents in the last three years, while one in five have suffered resulting financial loss, according to new research ...

Irish savers missing out on up to €3.5 billion in interest a year

New research from price comparison website Bonkers.ie shows that Irish savers are collectively missing out on up to €3.5 billion in interest a year as they are slow ...

Highest level of new credit union lending in 14 years

Credit unions affiliated with the Irish League of Credit Unions (ILCU) reported the highest level of new lending since 2009 in the last year, the latest results for ...

Corporation tax take in November up 27% on last year

Corporation taxes recovered strongly in the month of November, helping the Exchequer to deliver a surplus of €5.4 billion. Just over €6 billion was collected in corporation tax, ...

Jump in retail salaries predicted for next year

Fashion and other non-food retailers in Ireland are increasing salaries by 10%-12% in a bid to secure and retain top-tier talent, according to the Excel Recruitment 2024 Salary ...

Growth in service sector picks up in November

The rate of growth in the service sector picked up in November, new figures show. The latest AIB Purchasing Managers’ Index (PMI) shows the rates of expansion in ...

Average Christmas spending set to fall 13% this year – CCPC

Consumers expect average expenditure this Christmas to be down 13% compared with last year, according to a survey conducted for the Competition and Consumer Protection Commission (CCPC). The ...

New cars registered in November slows by 4%

The number of new cars registered in November fell 4% according to new data from the Society of the Irish Motor Industry (SIMI). 947 cars were registered during ...

Manufacturing conditions stabilise in November

Business conditions in the manufacturing sector stabilised in November, new figures show. The latest Purchasing Managers Index from AIB reveals the second highest reading since February. The index ...

33,450 homes may be built here in Ireland in 2024 – Euroconstruct

A new analysis has estimated that around 33,450 new homes could be completed here next year. The research also predicts that around 31,000 will be finished this year. ...

Latest CSO figures confirm economy in recession

Figures today from the Central Statistics Office confirm that the economy is in recession. The economy, as measured by gross domestic product (GDP), fell by 1.9% in the ...

ECB picks ‘European culture’ and ‘rivers and birds’ as themes for new euro banknotes

The Governing Council of the European Central Bank said it has selected “European culture” and “Rivers and birds” as the possible themes to choose from for future euro ...

Big increase in demand for construction workers in 2023

The resurgence of construction here meant professional roles in that sector recorded the biggest increase in demand this year, new data shows. IrishJobs TalentBank, a database containing over ...

New tenants are paying 18% more for rent than existing ones – RTB

New tenants are paying considerably more rent than renters with existing tenancies, new official data has shown for the first time. According to information released by the Residential ...

EU agreement on reducing industrial emissions

EU member countries and the European Parliament have said they have reached a preliminary agreement on curbing industrial emissions, including those from intensive poultry and pig farms and ...

Brent tops $80 ahead of OPEC+ meeting

Oil prices crept higher today as the possibility that OPEC+ will extend or deepen supply cuts was compounded by a storm-related drop in Kazakh oil output to send ...

Weekly earnings rose by 4.6% in third quarter – CSO

Workers average weekly earnings rose 4.6% between July and September compared to the same period last year, new data from the Central Statistics Office (CSO) shows. On average, ...

ECB rate hikes not necessarily over, Nagel says

The European Central Bank may need to raise interest rates again if the inflation outlook worsens, and the bank should not rush to ease policy too quickly after ...

Oil prices rise slightly due to weak dollar

Oil prices rose slightly today due to a weak dollar, and expectations that the OPEC+ producer group would deepen and extend output cuts due to fears demand would ...

New domestic violence leave entitlements begin

Employers will be required to offer paid leave to workers who are subjected to domestic violence from today. The Work-Life Balance Act, which was passed earlier this year, ...

39% of daily internet users almost always online – CSO

New figures from the Central Statistics Office shows that 94% of internet users go online daily, and of these, 39% use it all the time or nearly all ...

Public sector pay talks to begin at WRC

Talks on a new public sector pay deal involving unions, staff associations and the Government are due to begin at the Workplace Relations Commission (WRC) today. Last week, ...

Irish agri-food exports were worth €19 billion in 2022

Irish agri-food exports were worth €19 billion in 2022, with 165,000 people employed across the sector, according to the latest annual review and outlook report from the Department ...

Labour market participation rate highest since 2008 – CSO

New figures from the Central Statistics Office today show that the estimated labour market participation rate in the third quarter of 2023 reached 65.8% – the highest rate ...

Central Bank’s Makhlouf not ruling out another interest rate hike

The full effect of higher interest rates has yet to feed through the economy, according to the Central Bank’s Financial Stability Review published today. The Review has left ...

Mortgage approvals for first time buyers hits record in year to October

The number of mortgages approved last month increased by 2.7% compared to a month earlier. But versus the same month in 2022, volumes were down 20%, as switching ...

€110 billion collected in taxes in 2022, up 17% on 2021 – CSO

The Exchequer collected €110 billion in 2022 in taxes and PRSI, according to figures from the Central Statistics Office published today. This is an increase of €16.3 billion ...

OPEC+ postpones policy meeting to November 30, oil falls

OPEC+ has delayed a ministerial meeting expected to discuss oil output cuts to November 30 from November 26 as producers struggled to agree on production levels and hence ...

€1,000 reduction in third level college fees comes into effect

Minister for Further and Higher Education Simon Harris has announced further details on the cost of education measures first outlined in the Budget. A reduction of €1,000 in ...

Euro zone to tighten fiscal policy in 2024 – Commission

Euro zone fiscal policy will be tighter on aggregate next year but several countries, including France and Italy, plan to spend too much, breaking EU recommendations, the European ...

Consumer caution warning as Black Friday approaches

It’s that time of year again when Black Friday advertising is inescapable. Offers galore are touted on social media feeds, in broadcasting and newspapers in the run up ...

Government agrees increases in all classes of PRSI

The Government has signed off on a plan to increase PRSI over five years to replenish the Social Insurance Fund. Under the plan there will be incremental increases ...

EU October car sales up 14.6%, EV sales jump more than 36%

New car sales in the European Union rose 14.6% in October, boosted in part by a big jump in sales of fully electric cars, while hybrid electric vehicles ...

EU Parliament to vote on new ‘right to repair’ consumer rules

New rules to make it easier for consumers to request repairs for goods will be voted on by the European Parliament. The legislation seeks to introduce a “right ...

Business confidence in “experience economy” weakens

A quarter of businesses in the “experience economy” are less confident than they were six months ago, new research has found. A similar proportion of firms indicated they ...

Record online spend forecast for Black Friday

One week out, AIB is forecasting that online Black Friday spend in Ireland this year will surpass last year’s record-breaking total. In 2022, customers of the bank spent ...

‘Buy now, pay later’ in focus as festive season nears

It’s the time of year when the purse strings are being loosened in the run into the festive season. Most of us are at the stage where we’re ...

Consumers planning a more positive but prudent Christmas

Planning to cut back on Christmas spending is now a seasonal norm, according to analysis of the Credit Union Consumer Sentiment survey for November. It contained a special ...

Oil prices head for fourth week of declines in a row as supply grows

Oil prices were little changed today but on track for their fourth week of losses in a row after tumbling about 5% to a four month-low yesterday on ...

More expensive services, food drive euro zone inflation in October

More expensive services and food were the main drivers of consumer price growth in the euro zone in October, data showed today, as the EU’s statistics office confirmed ...

Paid sick leave to increase to 5 days from January

The Government has announced that the entitlement to paid sick leave will increase from three to five days on 1 January 2024. It is the second stage of ...

Exports slow by 17% in September on lower pharma and electronics

Exports of goods from Ireland fell 17% in September, compared to the same month of last year, driven in large part by a further sizeable drop in sales ...

Dublin property prices fall again in September – CSO

Residential property prices rose nationally in September, compared to the same month last year, by 1.4%. This compares to an annual rate of 1.1% in August, the latest ...

Central Bank publishes new accountability rules for financial companies

The Central Bank has today published regulations and guidance for firms who have to comply with the Individual Accountability Framework (IAF). This is a set of rules governing ...

‘Out of home’ food sector hits record €9.3bn in 2023

A more discerning, occasion-led approach to dining out is likely to take hold next year, the latest Bord Bia annual Foodservice Market Insights report concludes. It comes against ...

Govt to build emergency reserve LNG storage facility

The Government is to build a new floating gas storage facility for Liquified Natural Gas to use as a strategic emergency reserve in case of global supply disruptions. ...

Unions invited to public sector pay talks

The Minister for Public Expenditure, NDP Delivery and Reform, Paschal Donohoe has invited public service unions and staff representative associations to enter negotiations with the Government on a ...

44% would change job to meet remote working needs

The fourth annual National Remote Working Survey has revealed that 44% of workers would change job, even if it means taking a pay cut, if their remote working ...

Grocery inflation falls to 9.8% from 10.5%

New figures from Kantar show that grocery inflation has fallen below 10% for the first time this year. Grocery inflation fell to 9.8% in the 12 weeks to ...

Governance rules could deter executives from seeking senior posts

New governance rules, which would see individuals being held accountable for willful wrongdoing in the financial sector, could stymie recruitment to senior executive positions within organisations, a survey ...

Skills shortage, talent retention among key challenges for employers

Skills shortages and the retention of talent remain among the key challenges facing organisations, a survey of employers conducted by recruitment specialists, Hays Ireland, has concluded. Almost all ...

Construction sector activity slows for fourth month

Activity in the construction sector in Ireland slowed further last month. It is the fourth month in a row that activity has fallen. According to the BNP Paribas ...

Rents rising nationally but marked slowdown in Dublin

Rents being sought for properties on the open market nationally are continuing to increase, but there has been a continued slowdown in the rate of increase in Dublin, ...

Annual production in manufacturing industries sinks 23% in Q3 – CSO

New figures from the Central Statistics Office show that production in manufacturing industries decreased by 22% in the third quarter of this year compared to the same second ...

DPC warned proposed new structures could slow inquiries

The Data Protection Commission (DPC) has warned the Government that new proposed structures for the organisation could slow down the pace of major data protection inquiries involving high-tech ...

US Fed could hike rates again if ‘appropriate’ – Powell

The US Federal Reserve is prepared, if needed, to increase interest rates further in order to bring inflation down to its long-term 2% target, Fed Chair Jerome Powell ...

‘Cautious optimism’ among Irish firms about their outlook – Eurochambers

A slight improvement in business sentiment has been captured in the latest European Economic Survey carried out on behalf of Eurochambres, of which Chambers Ireland is a member. ...

Near 50% jump in value of car loans – BPFI

There has been a surge in the volume and value of car loans being issued here, according to the latest Personal Loans Report from Banking and Payments Federation ...

Underlying inflation progress not enough, says ECB’s Lane

The European Central Bank is seeing some progress in its efforts to push down underlying inflation but this is not yet enough, ECB chief economist Philip Lane told ...

ECB must keep rates at or near 4% in 2024 to get inflation down – IMF

Rapid wage growth in the euro zone could keep inflation elevated longer and the European Central Bank should hold interest rates at or near record highs during next ...

Tánaiste hopeful for decision on beef exports ‘within months’

Tánaiste Micheál Martin has said that he is hopeful that Chinese authorities will reach a decision on the resumption of Irish beef exports to China “within a matter ...

Just 4% of top companies meet UN climate target guidelines – study

Half of the world’s 2,000 biggest listed companies have set a target to get to net-zero emissions by mid-century, but just a fraction meet tough United Nations guidelines ...

Euro zone economy started Q4 on back foot, stoking recession fears – PMI

The downturn in euro zone business activity accelerated last month as demand in the dominant services industry weakened further, a survey showed today, suggesting there is a growing ...

Competitiveness and costs top issues for manufacturers

Competitiveness and the cost of doing business in Ireland are among the top issues for the manufacturing sector, new data shows. However, the report by business group Ibec ...

Irish Entertainment & Media industry to grow 3.6% a year up to 2027

The Irish entertainment and media industry is to grow by an annual compound rate of 3.6% between now and 2027, a new report from PwC has predicted. That ...

Corporation tax take drops for third month in a row

The Exchequer recorded a deficit of €900m at the end of October, the latest figures from the Department of Finance show. The Exchequer returns, published this afternoon, also ...

Value of output from agriculture to fall 8% this year, CSO figures show

The value of output from agriculture this year will be down 8% compared to 2022, according to the Central Statistics Office. The CSO says the decrease is mainly ...

Service sector growth slows for sixth month in a row – PMI

The rate of expansion in the country’s services sector slowed for the sixth month in a row in October with a survey today showing it at the second-weakest ...

Jobless rate moves up to 4.8% in October – CSO

New figures from the Central Statistics Office show that the number of people unemployed rose marginally in October. When adjusted for seasonal factors, the unemployment rate moved up ...

Shortage of builders a risk to housing construction, warns BPFI

The lack of skilled trades people could affect growth in the economy, according to the latest SME Monitor by Banking and Payments Federation Ireland. Construction firms have reported ...

New Central Bank campaign to help consumers avoid personal finance scams

The Central Bank has launched an information campaign to help consumers avoid personal finance scams. It said fraudsters are using increasingly sophisticated methods which calls for an increased ...

Two thirds of adults think Irish banks lack competition

Two thirds of adults in Ireland think the banking sector lacks competition, new research has found. While almost three quarters agree that the process of opening a new ...

New electric car registrations slow down by 17% in October – SIMI

The latest figures from the Society of the Irish Motor Industry show that new car registrations for October were down 16.8% to 2,178 when compared when the figure ...

Euro zone inflation, growth slow as ECB hikes weigh

Inflation in the euro zone hit a two-year low a month after its economy began contracting, data showed today, illustrating the dual impact of a steady diet of ...

Energy suppliers set to cut electricity, gas charges

A number of energy suppliers are set to cut charges for electricity and gas from today. Nearly two million customers will benefit from cuts in unit prices and ...

Manufacturing conditions continue to weaken amid fall in new orders

Business conditions in the manufacturing sector continued to weaken in October, new figures show. The latest Purchasing Managers Index from AIB reveals that activity weakened to the greatest ...

Inflation rate estimated to have slowed to 3.6% in October from 5% in September

There has been a significant slowing in the estimated annual rate of inflation in October. According to the latest “flash” estimate of inflation from the Central Statistics Office, ...

Where next for interest rates as ECB pauses?

It has certainly been a busy eighteen months for the Monetary Policy Committee of the European Central Bank. Having spent several years repeating pretty much the same script, ...

Consumer sentiment improves following Budget measures

Consumer sentiment has improved slightly this month, boosted by the measures announced in Budget 2024. The latest Credit Union Consumer Sentiment Index registered a pick up in the ...

ECB breaks record streak of rate hikes as economy weakens

The European Central Bank left interest rates unchanged as expected today, snapping an unprecedented streak of ten consecutive rate hikes, and maintained its guidance which signals steady policy ...

New guidance on social media advertising for influencers issued by CCPC and ASAI

New guidance for Irish influencers on how to clearly label ads on social media has been issued by the Competition and Consumer Protection Commission (CCPC) and the Advertising ...

Mortgage drawdowns fall 22%, driven by switching slump

Mortgage drawdowns were down almost 22% between July and September when compared to the same period last year. New figures from Banking and Payments Federation Ireland show that ...

Housing completions up 14% in third quarter – CSO

There was an increase of 8,452 in new dwelling completions in the third quarter of this year, according to the latest figures from the Central Statistics Office. This ...

Job vacancies down 28% on last year

Job vacancies declined by 28% year-on-year and by 7% on a quarterly basis according to the latest Jobs Index from hiring platform IrishJobs. The data is for the ...

ECB Governing Council expected to leave rates unchanged

The Governing Council of the European Central Bank (ECB) meets in Athens today where it’s widely expected to leave interest rates on hold for the first time since ...

Petrol and diesel prices dip in October – AA Ireland

The latest AA Ireland monthly Fuel Price Survey shows a slight drop in petrol and diesel prices over the last month, while the cost of running an electric ...

Four in five firms plan pay increases next year with average of 3.8%

Around four in five businesses are planning on increasing pay for employees in 2024, with an average pay rise of 3.8%. This is according to the latest Pay ...

Calls for more modular housing to address shortages

Modular housing units need to be constructed in higher volumes in order to address the housing shortage crisis, according to the Director General of Engineers Ireland. Damien Owens ...

Euro zone PMI hits lowest in nearly three years, stirs recession worries

Euro zone business activity took a surprise turn for the worse this month as demand fell in a broad-based downturn across the region, a survey showed, suggesting the ...

New competency framework to drive higher standards in corporate governance

A new competency framework to drive higher standards in corporate governance is being launched today by the Institute of Directors. The new Continuing Professional Development (CPD) Framework has ...

EU signs digital services agreement with Ireland

The European Commission has signed an administrative arrangement with the newly established media regulator, Coimisiún na Meán, to support new EU online safety rules. The Digital Services Act ...

55% of office workers spend two to three days a week ‘on-site’

New research has found that 55% of office workers in companies in Dublin now spend two to three days on site each week. That marks a 7 percentage ...

Average home rebuilding cost rose 12% over last year

The average cost of rebuilding a house rose by 12% over the last year, new research has found. That i’s less than the 21% rate of increase in ...

Planned changes to rules around minimum corporation tax among measures contained in the Finance Bill

The Finance Bill, which puts the tax changes announced in last week’s Budget into legislation, has been published by the Minister for Finance, Michael McGrath. It runs to ...

ECB starts ‘preparation’ for digital euro

The European Central Bank took a further step today towards launching a digital version of the euro that would let people in the 20 countries that share the ...

Values-led approach to food security required – DCU report

A report on Global Food Security will be presented to the UAE ambassador to Ireland by DCU’s Centre for Religion, Human Values and International Relations ahead of COP ...

National Women’s Enterprise Day takes place today

Events marking the 17th National Women’s Enterprise Day are taking place around the country today. The Local Enterprise Office-led initiative aims to celebrate female entrepreneurs and female-led start-ups, ...

Exports down 17% in August on lower sales of chemicals – CSO

Exports from Ireland dropped by 17% in August, driven by falls in sales of chemicals and related products, as well as electrical machinery, new figures from the Central ...

Grocery price inflation falls to 5 month low – Kantar

Grocery price inflation in the Irish market has fallen to a five month low, but prices are still going up steeply. That is according to the latest figures ...

Report finds Ireland’s pension system ranking has improved slightly

Ireland’s pension system has improved slightly in the past year when compared with global peers, a new index has found. The Mercer CFA Institute Global Pension Index ranked ...

Ireland’s economic growth will slow by 2050 – report

A new report has suggested that Ireland’s economic growth will slow over the medium to long-term due to a range of factors, including the ageing of the population. ...

Clear-out urged as study finds Ireland generates millions of kilos of e-waste

Irish households are being urged to begin a collective clear-out of small electronic waste this weekend, after a United Nations study showed Irish consumers generated 11 million kilos ...

2,600 buyers approved for First Home Scheme

The latest progress report on the First Home Scheme shows that 2,598 buyers have been approved and 699 homes already bought using the scheme since it was launched ...

Annual inflation rate up slightly to 6.4% in September – CSO

The annual rate of inflation rose again in September to 6.4% compared to an annual rate of 6.3% in August, new figures from the Central Statistics Office show ...

Online payments continue to grow, cheque payments drop further

Online and mobile banking payments are continuing to grow in the country while usage of cheques has dropped to the lowest level since 2008. That is according to ...

Budget benefited lower income groups proportionately more – ESRI

The Economic and Social Research Institute has said Tuesday’s Budget was “progressive”, meaning lower income groups will benefit proportionately more than higher income groups. However, the ESRI says ...

Used car price inflation rises to 3.3% in third quarter

The rate of inflation in the used car market was 3.3% in the period from July to the end of September, up from 0.9% in the previous quarter. ...

Number of insurance firms in Ireland down 39% since 2009

The number of insurance and reinsurance businesses based in Ireland has fallen 39% since 2009, a new study has found. Life companies have dropped by 42% over the ...

€1.17bn allocated to Arts, Sport and Media in budget

The Minister for Tourism, Culture, Arts, Gaeltacht, Sport and Media, Catherine Martin has announced details of the €1.17 billion in funding allocated to the department in Budget 2024. ...

Banking levy increased in Budget 2024

Ireland will revise how it calculates its levy on banks after announcing plans to raise €200m from the measure next year, up from €87m in 2023, Finance Minister ...

Budget 2024 won’t overheat the economy – Varadkar

Some Budget 2024 measures came into force at midnight, after the Dáil voted to increase tobacco duties and also maintain the lower VAT rate on household energy bills. ...

Some Budget measures in force with fuel prices up since midnight

Some of the Budget 2024 measures came into force at midnight after the Dáil voted to increase tobacco duties and maintain the lower VAT rate on household energy ...

Over 2.4m people have private health insurance, up 3%

The number of people with private health insurance at the end of last year rose by 3% compared to a year earlier. 2.44m customers had health insurance policies ...

Global natural gas demand set for slower growth to 2026 – IEA

Global natural gas demand is expected to experience slower growth to 2026 after peaking in mature markets such as Europe and North America in 2021, a report by ...

Budget to include €250m scheme to help firms with costs

A new €250m grant scheme to help small and medium sized businesses with rising costs is set to be announced in today’s budget. The one-off scheme will offer ...

Coalition party leaders discuss final Budget details

The Coalition party leaders met until the early hours of this morning to finalise most of the details of tomorrow’s Budget. Some items remain outstanding, however, and there ...

Construction activity saw modest slowdown in September – PMI

Activity in the construction sector slowed again in September, according to the latest purchasing managers index from BNP Paribas Real Estate Ireland. The index stood at 48.6 in ...

Insolvencies and startups both grew in third quarter

The number of insolvencies in the third quarter of the year was up 54% on the same period last year. Between July and September, 185 insolvencies were recorded, ...

World food price index little changed in September despite sugar surge – FAO

The United Nations food agency’s world price index was largely stable in September, as declines in the indices for vegetable oils, dairy and meat offset a surgein sugar ...

Key tourism month of July not as strong as hoped – ITIC

The rising cost of doing business and reduced tourism accommodation supply meant the key tourism month of July wasn’t as strong as hoped, new data from the sector ...

Expansionary Budget ‘makes little economic sense’ – Nevin Economic Research Institute

The Nevin Economic Research Institute (NERI) has said an expansionary Budget next week “makes little economic sense” at this time. This is because it believes the economy is ...

ESRI forecasts slowdown in Irish economy this year

A fall in exports and lower consumer spending in the face of higher inflation will lower the growth rate in the economy this year, according to the Economic ...

Energy generation sources remain stable in September

Gas was responsible for generating 46% of Ireland’s electricity in September, amid mild, sunny and wet weather. That proportion was similar to the previous month, but down from ...

Value of Irish M&A deals up 48% over first nine months of 2023

The value of mergers and acquisitions with Irish involvement hit $33.3 billion during the first nine months of the year. That represented an increase of 48% compared to ...

Corporation tax take below estimate again in September

Corporation tax in September came in below the Department of Finance’s estimate for the second month in a row, according to the latest Exchequer figures published this afternoon. ...

Services activity growth has slowed to lowest this year

The growth in activity in the services sector was the slowest since the beginning of the year, according to the latest AIB Ireland Services Purchasing Managers Index. Concerns ...

ESRI predicts slower rate of economic growth this year due to falling exports and rising inflation

A fall in exports and lower consumer spending in the face of higher inflation will lower the growth rate in the economy this year, according to the Economic ...

Changes to personal taxation to be ‘central’ part of Budget – McGrath

The Minister for Finance has said that changes to personal taxation will be a “central element” of a just over €1.1 billion tax package that will form part ...

Goodman firm to inject up to €6.35m into Barryroe

A company controlled by businessman Larry Goodman is to make up to €6.35m available to Barryroe Offshore Energy (BOE), which is currently in examinership, as part of a ...

ECB’s Lane says rising wages underpinning euro zone inflation

Rising wages in the euro zone are underpinning inflation in the bloc but wage growth should moderate in the coming months, the European Central Bank’s chief economist Philip ...

Fresh setbacks for manufacturing sector in September

The manufacturing sector experienced some renewed headwinds in September which saw the index going back into contractionary mode having bounced back in August. The headline AIB Ireland Manufacturing ...

Signs of property rebound with asking prices up 4% – MyHome.ie

The Irish property market is experiencing a rebound with a period of falling house prices – seen in the early months of 2023 – coming to an end ...

Companies urged to file returns early amid ID changes

The Government is urging companies to make their annual return filings early ahead of the peak filing period next month, following the introduction of new identification requirements for ...

Inflation rises to 5% in September – flash estimate

Inflation is estimated to have risen to an annual rate of 5% in September, according to the latest “flash” estimate from the Central Statistics Office. This compares to ...

House prices rising amid ongoing supply shortage – daft.ie

Demand for property is holding up, despite interest rate increases, and an ongoing supply shortage is supporting prices, the latest House Price Report from property listings website daft.ie ...

Mortgage switching down almost 80% on last year

There was a huge drop in the number of people switching their mortgages in August compared to the same time last year, new figures show. The latest report ...

Corporation tax growth levelling off – McGrath

The Minister for Finance has said there appears to be a “levelling-off” of the growth in corporation tax compared to the extraordinary levels in recent years. Michael McGrath ...

Banks defend interest rate policies at committee

Representatives of the country’s main banks have defended their policies around the passing on of interest rate increases to customers when they appear before an Oireachtas committee later. ...

Competitiveness Council urges action to meet new economic challenges

The National Competitiveness and Productivity Council has published its annual Challenge Report, which outlines some of the key issues facing the economy. Chair of the Council Dr Frances ...

Rise in number of electricity, gas customers in arrears

There has been a notable increase in the number of domestic electricity customers falling into arrears since the end of the Government’s Emergency Electricity Credit in March, according ...

Living wage should rise to €14.80 per hour – technical group

The reference hourly living wage rate should rise to €14.80 per hour, according to the Living Wage Technical Group (LWTG). This is an increase of 6.9%, or €0.95, ...

Competition authorities given new powers to fine companies up to €10m

From today, the Competition and Consumer Protection Commission (CCPC) will be able to fine companies for breaching Irish and EU competition law. The new powers come as the ...

UN charter aims to promote gender equality in sustainable finance

A new United Nations charter aimed at promoting gender equality in the area of sustainable finance is being launched in Dublin this morning. The Financial Centres for Sustainability ...

Irish stock market departures are symptom of wider EU malaise

Irish people have a rich history of looking to the US for a better life. That appears to be the thinking of Dublin-listed paper packaging company, Smurfit Kappa, ...

Semi-states and public bodies most attractive employers – survey

Irish semi-state and public bodies are the most attractive employers for professionals working in Ireland, according to new research from Universum, which is part of IrishJobs. The Most ...

EU urges Ireland to speed up copper switch-off

The European Commission has urged Ireland to speed up the switching off of out-of-date copper wire networks for phone and broadband services. The switch-off of legacy copper networks ...

Wholesale electricity prices up 10% in August, CSO data shows

Wholesale electricity prices rose in August but were still much lower year-on-year, according to the Central Statistics Office. Its latest Wholesale Price Index shows a more-than 10% increase ...

‘”Enormous’ opportunity to double Irish exports to Canada within five years

A new report shows that Ireland’s goods exports to Canada reached a record high of €3.39 billion in 2022, while 2023 is set to be another record year, ...

Housing commencements up 30.6% in August

New figures from the Department of Housing, Local Government and Heritage shows that the number of new commencement notices for August rose by 30.6% compared to the same ...

Govt must balance support and inflation in budget – McGrath

The Minister for Finance has said the Government faces a challenge in the upcoming budget in getting the balance right between providing an appropriate amount of support needed ...

Consumer confidence drops to lowest level in six months

Consumer confidence dropped to a six month low in September, amid a rebound in oil prices, a further rise in interest rates and a gloomier economic outlook. The ...

McGrath wants public bodies to keep taking cash payments

The Minister for Finance has written to Government colleagues asking that public bodies under their remit maintain their existing payment methods in relation to accepting cash pending the ...

March ‘probably too early’ to expect interest rates to fall – Makhlouf

The Governor of the Central Bank has said his view is that March is probably too early a time to expect interest rates in the eurozone to start ...

Unlikely energy prices will return to 2020 levels over coming months – CRU

It is unlikely that households will see energy prices return to the previous low levels seen in 2020 and 2021 over the coming months, a new report from ...

First Home Scheme extended to self-builders building first home

The Government has extended the First Home Scheme to self-builders who are building their first home. The scheme, which was launched just over a year ago, works by ...

Euro zone August inflation revised slightly lower

Euro zone consumer inflation in August was slightly lower than initially estimated, the European Union’s statistics office Eurostat said today. But it still remained more than twice the ...

Spending on homewares up 18% in August, but pub spend dips 1% – AIB

Summer spending recovered slightly last month despite the continuing bad weather, a new survey shows today. The AIB August Spend Trend report reveals that overall spending rose by ...

Annual house price growth cools to 1.5% in July – CSO

New figures from the Central Statistics Office show that residential property prices rose by 1.5% in the 12 months to July. This marked the slowest annual rate of ...

Economic growth expected to slow as multinational exports weaken – Central Bank

The Central Bank has lowered its forecasts for growth in the economy based on weaker exports from multinationals in Ireland, but has left its outlook for inflation broadly ...

Grocery price inflation falls to lowest level in a year – Kantar

Grocery price inflation slowed to 11.5% in the 12 weeks to September 3, new figures from Kantar show today. This marks the lowest level of grocery price inflation ...

Construction activity continued to slow in August – PMI

A slowdown in construction activity continued in August, according to the latest construction purchasing managers index from BNP Paribas Real Estate Ireland. There was a sharper contraction in ...

What next for Irish stock market amid departures of key players?

Vladimir Lenin is widely credited with the phrase ‘there are decades where nothing happens; and there are weeks where decades happen’. He could well have been talking about ...

Wholesale energy prices fell again in August

Wholesale electricity prices continued their decline in August compared to prices last year, according to the latest report published by the Single Electricity Market Operator (SEMO). SEMO operates ...

Budget will help with cost of living, McGrath says

The Minister for Finance has said the latest European Central Bank interest rate increase will undoubtedly add pressure to many households who already are carrying the burden of ...

Plans for participation exemption to Irish corporation tax

The Government has announced plans to introduce changes to how dividend income received from foreign branches of companies with bases in Ireland are taxed here. The reforms, if ...

ECB raises euro zone interest rates again by 0.25%

The European Central Bank raised interest rates for the 10th meeting in a row today to counter stubborn inflation but signalled that it is likely done tightening policy. ...

Research reveals extent of shift to digital banking

One in three people in Ireland now use banking apps from outside of the traditional sector, nearly double the number a year ago, new research has found. The ...

Campaign encourages SMEs to save time, money and energy

Local Enterprise Offices have launched a campaign encouraging small businesses to avail of supports that will help them save time, money and energy. The “All In A Day’s ...

ECB governing council to make decision on interest rates

The European Central Bank’s governing council meets in Frankfurt today to decide if it will continue to increase interest rates as part of its efforts to bring inflation ...

Surge in demand for IT and digital roles – ManpowerGroup survey

Despite fears of AI replacing jobs in the tech sector, there has been a surge in demand for workers in IT and digital roles, according to the latest ...

Energy companies told to ‘go further’ on price cuts

The four main energy companies have been told that they must go further on price cuts, during a meeting with Taoiseach Leo Varadkar and energy minister Eamon Ryan ...

Gas demand down by a fifth during mild August – GNI

Overall gas demand in August was well down on the same month last year amid mild and changeable weather. According to the latest Gas Demand Statement from Gas ...

Number of female business leaders continues to rise, but slowly – CSO

New figures from the Central Statistics Office show that Irish businesses continue to increase female representation at both senior executive and board level, albeit slowly. However, the number ...

EU Commission cuts euro zone growth forecast as Germany in recession

The euro zone economy will grow slower than previously expected this year and next, the European Commission forecast today. This comes as consumer demand suffers from high inflation ...

Disconnect between employers and older workers, survey finds

Recruitment firm Hays Ireland has said that new research it has conducted has revealed a disconnect between employers and older workers. The company said its survey of 1,600 ...

64% of consumers buy sustainable goods, cost an issue

Two thirds of Irish consumers buy sustainable products sometimes or often, a new survey has found. The research by Deloitte found the level of sustainable purchasing was higher ...

Oil prices ease but supply cuts keep Brent above $90 a barrel

Oil prices eased today as a stronger US dollar and economic concerns in China weighed on the outlook for fuel demand, but extended supply cuts by Saudi Arabia ...

Lack of state support a barrier to fintech expansion – report

A lack of government support for growth and innovation has been identified as a major barrier to expansion in the financial technology, or fintech, sector in a report ...

Euro zone economy grew just 0.1% in second quarter

The euro zone economy grew by a mere 0.1% in the second quarter, lower than previously estimated, official data showed today. The European Union’s Eurostat data agency had ...

Texts and phone calls down, data usage up

A new report reveals that mobile phone users are sending less texts and making less calls, but using more data. New figures from the Commission for Communications Regulation, ...

Higher mortgage rates, oil costs push inflation to 6.3%

Inflation rose at an annual rate of 6.3% in August, up from 5.8% in July, according to the latest Central Statistics Office figures. Inflation took a step in ...

Women encouraged to consider construction careers

The shortage of construction workers is one of the biggest challenges facing the building industry amid warnings that there is not enough skilled labour to meet the demand ...

Commercial vacancy rate hits 14.1% – highest on record

There were 29,798 vacant commercial units recorded across the country between April and June. There were 29,798 vacant commercial units recorded across the country between April and June. ...

Euro zone August downturn deeper than was thought – PMIs

The decline in euro zone business activity accelerated faster than initially thought last month as the bloc’s dominant services industry fell into contraction. This is according to a ...

National Broadband Plan marks 50,000th connection in Cork

The company marked the latest milestone in the NBP rollout at a farm in rural Co Cork. Peter Hendrick, the chief executive of National Broadband Ireland, the number ...

Banking industry’s new support measures for mortgage customers

The main Irish bank and non-bank lenders have agreed a new set of criteria designed to provide clear guidance to mortgage holders whose loans are managed by credit ...

Corporation tax take in August down over €1bn on last year

The amount of corporation tax collected in August was over a billion euro less than the amount taken in the same month last year. In a statement, the ...

Study reveals stress and financial woes facing workers

Many employees are increasingly feeling cash-strapped as inflation continues to impact their ability to spend, according to a survey of Irish workers by PwC. The proportion of the ...

Activity in Ireland’s service sector continues to grow

The latest Purchasing Managers Index from AIB marks two and a half years of successive monthly improvement in business activity, new business and employment. The report states that ...

Economy sees growth of 0.5% in second quarter – CSO

The economy continued to grow in the second three months of the year, according to the latest figures from the Central Statistics Office. Measured by GDP, which includes ...

Deposit rates finally rise but ‘the devil is in the detail’

When the banks published their half year results in the early part of last month, it was clear that pressure was going to mount on them to improve ...

‘Concerning gaps’ in pension coverage – CCPC

The Competition and Consumer Protection Commission (CCPC) has said that research it has carried out into pensions has revealed some concerning gaps in retirement planning. The survey of ...

NTMA to increase State Savings interest rates

The National Treasury Management Agency said it is increasing the rates that apply to new fixed term and variable rate State Savings products. It also said it will ...

AIB and EBS increase rates on saving accounts

AIB has become the latest bank to increase its interest rates on certain savings products, as well as on EBS saving accounts. The move comes amid growing calls ...

Motorists facing hike in petrol and diesel prices

Motorists are facing a hike in the cost of refuelling their vehicles from midnight tonight, as excise rates are increased by the Government. Petrol excise rates will increase ...

Inflation rises to 4.9% in August – flash estimate

An initial estimate for inflation, measured by the Harmonised Index of Consumer Prices (HICP), shows prices rose by 4.9% in the 12 months to August. Today’s latest Central ...

Reduced 9% VAT rate to expire at midnight

The reduced 9% VAT rate for tourism, hospitality and some other services will expire at midnight and return to 13.5%. The planned increase is set to go-ahead despite ...

McGrath: Excise duty hike will go ahead in September

Minister for Finance Michael McGrath has confirmed that the planned hike in excise duty will go ahead in September as it is already “locked in”. He said the ...

Europe’s bumper Q2 puts global dividend payouts on track for record year

Companies around the world are on track to pay investors a record $1.64 trillion in dividends this year following a more than 6% jump in the second quarter, ...

European car sales rise 15% in July, EVs up nearly 61%

European new car registrations jumped 15.2% in July, the 12th consecutive month of growth as the auto industry recovers from pandemic-related supply chain issues, data from the European ...

Annual retail sales up 5.9% in July, CSO figures show

The volume of retail sales increased by 5.9% in the 12 months to July, new figures from the Central Statistics Office show. On a monthly basis, sales volumes ...

Irish economy tops OECD league table for growth in Q2

Ireland recorded the highest level of economic growth in Gross Domestic Product terms among OECD countries in the second three months of the year. There are 38 member ...

€17m fund for community-based tourism projects

A fund of €17 million for private and community-based small tourism projects is opening for applications today. Failte Ireland was allocated €68 million in funding in total, the ...

Oil inches up after China moves to support flagging economy

Oil prices ticked higher today after China took steps to support its flagging economy, though investors remained worried about the pace of growth as well as further US ...

Do your homework: How to manage back-to-school costs

From shoes and uniforms, to school bags and stationary, back-to-school costs are mounting. It is an expensive time of year for those with children in both primary and ...

Third of workers do not feel companies treat everyone fairly

A third of workers in Ireland do not feel their organisations treat everyone fairly according to new research on workplace diversity and inclusion. The study by the Irish ...

Employment rate at highest level since records began in 1998

The employment rate rose to over 74% in the second quarter of 2023, the highest rate since the current series of records began in 1998. The latest Labour ...

Mortgage approvals fall in July despite FTB activity

A slowdown in the market meant the number of new mortgages approved in July was down 9.7% on the same month last year and 0.4% on June, despite ...

Construction inflation moderates but remains high

Tender prices for commercial construction projects rose by 2.4% during the first half of the year. That’s down from 3.7% during the second six months of 2022, according ...

52% of SMEs raise prices to counteract inflation squeeze

52% of Irish SME businesses have taken the step to raise their prices, according to the latest Linked Finance SME Confidence Index. Recent Central Statistics Office figures show ...

Tourism chiefs concerned at pace of sector’s recovery

The body representing the tourism industry here has said it is concerned that the recovery of the sector is still some way off the levels reached prior to ...

Consumer sentiment slips for first time in five months

Sentiment among Irish consumers slipped for the first time in five months this month, amid bad news on the jobs front, global economic difficulties and ongoing inflation pressures. ...

ESRI estimates domestic economy grew by 3.5% in June

The domestic economy grew by around 3.5% in June when compared to the same month last year, according to a new estimate from the Economic and Social Research ...

Annual wholesale electricity prices down 64% in July – CSO

New figures from the Central Statistics Office show that wholesale electricity prices fell by 64% in July compared to the same time last year. The CSO said that ...

Government launches action plan on construction jobs

The Government has published a plan to boost employment in the construction sector. The ‘Careers in Construction Action Plan’ highlights the need for the construction industry to recruit ...

Finance Minister expects to see deposit rates rising soon

The Minister for Finance has said he anticipates the rate of interest which is paid on savings accounts will increase in the weeks ahead. Michael McGrath said that ...

Grocery inflation drops to lowest rate since November 2022

Grocery inflation rose by 12.8% in the 12 weeks to August 6 – the lowest level of growth since November 2022 and the third drop in a row, ...

Ireland among top countries for jobseekers globally

Ireland is among the most attractive countries for international jobseekers, according to new research from job website Indeed. Just over 11% of searches for jobs in Ireland in ...

Euro zone set for growth over next ‘couple’ of years – Lane

The euro zone economy will keep growing in the coming years and is unlikely to experience a deep or sustained recession, European Central Bank chief economist Philip Lane ...

6 in 10 don’t know about tax relief on dietary needs – survey

A new survey shows that six in ten people are unaware they can get tax relief on the cost of special foods if they have to restrict their ...

Euro zone inflation fall confirmed, easing pressure on ECB to hike

Euro zone inflation slower further and even underlying price pressures appear to have peaked, Eurostat data showed today. Today’s figures will ease pressure on the European Central Bank ...

Over 11,000 extra tourist beds needed by 2032 – ITIC report

An estimated 11,500 additional tourism beds will be required here in the next decade if Ireland is to meet projected demand, a new report on the sector has ...

Awareness of EU taxonomy system low among Irish firms

New research has found that many Irish financial services firms are not aware of a European Union system that is designed to help companies, investors and policymakers to ...

SMEs struggling to fill skills gap – Chambers Ireland

Small and medium sized companies here are struggling to find adequately skilled individuals to fill a variety of roles, a Chambers Ireland Skills Gap survey has found. Nine ...

Industrial output jump gives euro zone growth small boost

The euro zone’s vast industrial sector rebounded in June, giving overall growth a small boost to end an otherwise weak quarter on a positive note, data from Eurostat ...

EU greenhouse gas emissions fall 3% in first quarter of 2023

Greenhouse gas emissions in the European Union fell by nearly 3% in the first quarter of 2023, even as the bloc’s economy grew slightly, statistics agency Eurostat said ...

House prices post first month-on-month growth this year – CSO

Residential property prices recorded their first monthly increase this year in June, growing by 0.6% compared to May, new figures from the Central Statistics Office show. But annual ...

Historically low housing stock levels impacting market – Sherry FitzGerald

The stock of second-hand homes available on the market has reached a historic low, according to estate agents Sherry FitzGerald. Its analysis shows that there were 13,750 homes ...

44% of people now work from home at least 1 day a week – ComReg survey

A new consumer survey shows that 44% of respondents now work from home online at least one day a week. The Commission for Communications Regulation’s latest Broadband Connectivity ...

Exports down 3% in first half of 2023, imports up 2% – CSO

New figures from the Central Statistics Office figures show that the country’s unadjusted exports increased by €1.8 billion to €19.5 billion in June compared with the same time ...

Conveyancing delays leading to failed property sales – IPAV

Growing and serious delays in the conveyancing process are leading to property sales falling through, estate agents are reporting. A survey conducted by the Institute of Professional Auctioneers ...

Irish economy will outperform EU peers – Mastercard

The Irish economy will continue to outperform its EU peers, according to the Mastercard Economics Institute, as consumer fundamentals remain strong. It said Irish consumers have been relatively ...

Plans to double public service apprenticeship places

The Government has announced plans for nine new apprenticeship programmes in the public service. If realised, the proposals will lead to the doubling of apprenticeship places in the ...

Decline in construction activity in July – BNP Paribas Real Estate

After having returned to growth in June, construction activity in Ireland saw a renewed decline in July, after the BNP Paribas Real Estate Purchasing Managers’ Index. It also ...

84% rise in commercial bus use in 2022, significantly below pre-Covid levels – report

The number of passengers using commercial bus services in Ireland rose last year by 84%, according to new figures from the National Transport Authority (NTA). The report shows ...

Gas demand down by 20% in July – Gas Networks Ireland

New figures today show that gas demand decreased by 20% in July compared to the same month last year, and by 8% when compared to June. Gas Networks ...

Government body faced difficulty in arranging power supplies for state agencies due to market volatility

The Government body responsible for arranging power supply for state agencies could not even get companies to bid to provide electricity because of “extreme volatility” in energy prices ...

Advertised rents rise another 2.4% in second quarter – Daft.ie

Advertised rents across the country increased by 2.4% between April and June, when compared to the first three months of the year. According to property listings website Daft.ie, ...

Average interest rate on new mortgages here now above 4%

The average interest rate on new mortgage arrangements in Ireland has breached the 4% mark. Figures from the Central Bank show that the average interest rate on new ...

Euro zone bond yields drop as risk sentiment worsens, inflation fears ease

Euro zone bond yields dropped today as a European Central Bank (ECB) survey showed consumers expect inflation to keep slowing, while risk sentiment worsened on sticky inflation in ...

Retail spend in capital rose again in second quarter

Retail spending in Dublin rose again between April and June, the ninth consecutive quarterly increase. Spend was up 1.1% on the previous quarter and 4.7% on the same ...

Ireland had highest consumer prices in EU in 2021

Ireland had the highest price levels for consumer goods and services across the 27 countries of the European Union in 2021, a report from the Central Statistics Office ...

Live Register figures edge 0.1% higher in July – CSO

New figures from the Central Statistics Office show that the seasonally adjusted Live Register total for July rose by 0.1%, or 200, from June to reach a total ...

Restaurants seek retention of 9% VAT rate

Ireland should retain the hospitality sector’s reduced VAT rate but only for food-related businesses, according to a restaurant representative group. Chief Executive of the Restaurants Association of Ireland ...

Ireland tops EU poll for working from home growth

Ireland is leading the charge in terms of how rapidly remote working is taking the place of traditional office-based work, according to analysis of Eurostat data by BNP ...

Surge in car and home improvement loans in Q1 – BPFI

There has been a surge in car and home improvement loans in the first quarter of 2023 as personal lending hit €481m, according to the Banking and Payments ...

Indeed economist says it is still job seekers’ market

The labour market remains a positive backdrop for job seekers with postings on job site, Indeed, 30% higher than before the pandemic. The rate of unemployment in July ...

Decline in euro zone business activity accelerated in July – PMI

The downturn in euro zone business activity worsened more than initially thought in July as the slump in manufacturing was accompanied by a further slowing of growth in ...

Unemployment rate falls to 4.1% in July from revised figure of 4.2% in June – CSO

New Central Statistics Office show that the seasonally adjusted unemployment rate for July eased to 4.1%, down from a revised rate of 4.2% recorded in June. The CSO ...

Exchequer tax take up 4.6% to €4.57bn in July

Almost €6.57 billion in tax was received by the Exchequer in July, up €303m (4.6%) on the same month of last year. Figures from the Department of Finance ...

Service growth remains robust, inflation pressures ease – PMI

Service sector growth remained robust in July amid a strengthening in business sentiment and a slight easing in still high input and output cost pressures, a survey showed ...

Euro zone factory July activity fell at fastest pace since onset of Covid – PMI

Manufacturing activity across the euro zone contracted in July at the fastest pace since Covid-19 was cementing its grip on the world as demand slumped despite factories cutting ...

Manufacturing sector continues to contract, amid drop in new orders

Business conditions in the manufacturing sector continued to deteriorate in July, new figures show. The latest Purchasing Managers Index from AIB reveals the sharpest decline in new orders ...

Irish economy on course for more moderate growth – Ibec

The Irish economy is nearing the peak of the current economic cycle and is on course to enter a period of more moderate growth, Ibec forecasts in its ...

Temporary Business Energy Support Scheme ends today

Today marks the last day of the Temporary Business Energy Support Scheme, which was designed to help businesses with their electricity or natural gas energy costs as they ...

Euro zone inflation falls further in comforting sign for ECB

Consumer prices in the euro zone grew by 5.3% this month from 5.5% in June, extending a downtrend that started in the autumn. Excluding energy and unprocessed food, ...

Ireland posts highest GDP growth in Q2 as euro zone returns to growth

Ireland recorded the highest increase in economic growth in the euro zone in the second quarter of this year, new figures from Eurostat show today. The country recorded ...

Inflation rate estimated to have slowed to 4.6% in July from 4.8% in June – CSO

Inflation in Ireland, as measured by the Harmonised Index of Consumer Prices, is estimated to have moderated to an annual rate of 4.6% in July from 4.8% in ...

Sharp slowdown in property investment market in first half – BNPPRE

The Irish commercial property market suffered the third sharpest slowdown in investment across 27 countries in Europe over the first half of 2023, according to BNP Paribas Real ...

GDP rebound of 3.3% in second quarter may mean economy is out of recession

The Irish economy as measured by Gross Domestic Product (GDP) returned to growth in the second quarter of the year, new preliminary figures from the Central Statistics Office ...

Census 2022 shows falling home ownership rates – CSO

New figures from the Central Statistics Office show that the number of homes owned without a mortgage or loan increased by 11% to nearly 680,000 while the number ...

SMEs to maintain or increase sustainability investments

Over 90% of small and medium sized businesses in Ireland plan to maintain or increase their investment in sustainability practices over the next year. The SME sustainability sentiment ...

ECB raises interest rates again but keeps options open for September

The European Central Bank has today raised interest rates for the ninth consecutive time and said it was open-minded about further tightening as stubbornly high inflation and recession ...

Corporate insolvencies rise 30% in first half of year

329 corporate insolvencies were recorded in Ireland in the first half of the year, new figures from Deloitte show. This is up 30% on the same time last ...

Gas demand 9% lower in June compared to last year

Warmer weather and the ending of the academic year in education institutions led to demand for gas dropping by 10% in June compared to May. Overall, gas demand ...

Further 0.25% increase in interest rates expected from ECB today

The European Central Bank (ECB) is expected to raise interest rates again at a meeting of its Governing Council in Frankfurt today. Markets are expecting a further 0.25% ...

Mortgage activity slows but lending to FTB remains robust

The volume of new mortgages drawn down by first-time buyers in the second three months of the year fell for the first time since the pandemic in 2020. ...

Government extends Abhaile scheme for four more years

The Abhaile scheme, which supports families who are in serious or long-term mortgage arrears and are at risk of losing their homes, has been extended by the Government ...

20% never carry cash, younger people leading the way

Younger people are leading the way when it comes to cashless living, with half of 18-24 year olds saying they never carry money. New figures from Royal London ...

Euro zone firms slash loan demand to lowest on record – ECB poll

Euro zone firms’ demand for loans dropped to the lowest on record last quarter and a further decline is likely over the summer as lenders continue to tighten ...

41% of charities failed to file annual finances on time

Many Irish charities failed to meet their obligations under governance standards last year, according to the Charities Regulator. Its latest annual report shows that 41% of charities failed ...

Oil edges higher, buoyed by tighter supplies

Oil prices rose today, buoyed by evidence of tightening supplies and economic stimulus in slow-recovering China. Brent futures were up $1.02 at $80.66 a barrel by 1134 GMT, ...

‘Consumers feeling strengths as well as strains’

The pressures facing Irish consumers are fading but are far from finished, according to the Credit Union Consumer Sentiment Index, which showed the mood among consumers improved fractionally ...

Annual wholesale electricity prices down over 35% in June

New figures from the Central Statistics Office show the price of wholesale electricity in June rose by 11.3% from May, but fell by 35.6% compared to June of ...

‘Embarrassment of riches’ should be spent on capital infrastructure – Goodbody

The chief economist at stockbroker Goodbody said he supports a proposed new capital spending stabilisation fund for the country’s “embarrassment of riches”. “The public finances have been the ...

New home construction starts down 16% in June

The number of new homes that building work commenced on in June was down 16% on the previous month. However, compared to June of last year, the number ...

Ireland’s home ownership age gap among the highest in Western Europe – ESRI

Ireland has one of the biggest gaps in home ownership between younger and older people in western Europe, a new study has found. The research by the Economic ...

ECB to raise rates by 25 basis points in July, slim majority say September too

The European Central Bank will raise interest rates by 25 basis points on July 27, according to all economists in a Reuters poll, a slight majority of whom ...

June sunshine boosted spending in pubs and restaurants

The June sunshine boosted spending in pubs by 28% compared to the previous month, new figures from AIB show. Spending in hotels jumped by 12%, while restaurant spend ...

Paper explores cost of hiking social welfare payments in budget

A €1 increase in the personal rates of all weekly paid social welfare schemes in October’s budget would cost €69.4 million, according to new estimates. If an additional ...

Refundable tax credits could cost €1bn Tax Strategy Group report claims

The Tax Strategy Group paper on income tax has examined the issue of refundable tax credits. This is when those on low incomes do not earn enough to ...

Warning of businesses going bust if VAT goes back to 13.5%

Hairdressers and restaurant owners have warned that if the reduced 9% VAT rate increases back to 13.5% again as planned at the end of August, it will put ...

Exports slow by €1.2 billion in May – CSO

New figures from the Central Statistics Office show that Irish unadjusted exports of goods decreased by €1.2 billion to €16.7 billion in May compared to the same time ...

Petrol and diesel prices remain steady in July – AA

Fuel prices remained stable in July and are virtually unchanged compared to June, the latest AA fuel prices survey shows. The average petrol price is €1.65 in July, ...

Job vacancies fall by 25% compared to last year – report

Job vacancies fell by 25% in the second quarter of the year, on an annual basis, according to the latest Jobs Index from hiring platform IrishJobs. The report ...

Interest rates and inflation – the search for the ‘sweet spot’

On paper, the job of a Central Bank Governing Council sounds fairly straight forward. Maintain price stability and ensure the stability of the financial system. The guiding principle ...

Irish GDP slowed by 2.8% in Q1, revised CSO figures show

The Irish economy, as measured by Gross Domestic Product (GDP), contracted by 2.8% in the first three months of the year, updated data from the Central Statistics Office ...

Exports to boost Irish economic growth – Accenture

A new survey published today shows that despite the global economic challenges, Ireland’s growth forecast has emerged strongly. The latest Accenture/S&P Global Ireland Business Outlook survey show a ...

Annual rate of inflation falls to 6.1% in June – CSO

The annual rate of inflation stood at 6.1% in June, down from 6.6% in the 12 months to the end of May, new figures from the Central Statistics ...

Disadvantaged areas hit harder by unemployment during pandemic – ESRI

A new report from the Economic and Social Research Institute (ESRI) has found that people living in disadvantaged areas experienced greater disruption to their employment during the Covid-19 ...

Used cars 79% more expensive than pre-pandemic

Asking prices for used cars are 79% higher than they were pre-pandemic, but the rate at which prices are rising is slowing. New figures from listings website DoneDeal ...

Infrastructure deficit is leading to lost opportunities, Ibec warns

Ibec has warned that Ireland is currently losing out on business opportunities because of constraints in capacity in the economy, including around housing. The employers’ organisation claims the ...

27% of jobs at high risk from AI revolution – OECD

More than a quarter of jobs in the OECD rely on skills that could be easily automated in the coming artificial intelligence revolution, and workers fear they could ...

96% of Ulster Bank and KBC Bank Ireland accounts now closed

New Central Bank figures show that just over 96% of all current accounts that were open in Ulster Bank and KBC Bank Ireland at the beginning of 2022 ...

New platform aimed at addressing skills gap launched

A new platform aimed at addressing skills gaps in the workforce and wider economy is being launched today. MicroCreds.ie has been developed by the Irish University Association in ...

New electric car sales up 65% in first half of 2023

New figures from the Central Statistics Office show that the number of new electric cars licensed has increased by 65% from 8,309 in the first half of 2022 ...

Home asking prices up 2.2% in second quarter – MyHome

Asking prices for homes across the country were 2.2% higher between April and June than they were during the same period last year, as the market began to ...

New home starts up 7% compared to same period last year

The three coalition leaders and Minister for Housing Darragh O’Brien will unveil the latest progress report on the Government’s “Housing For All” plan. The data relates Q2, from ...

€783m paid in unpublished tax settlements last year

A massive €783m was paid last year in unpublished tax settlements involving close to 55,000 separate companies and members of the public. A total of €665m was paid ...

Euro zone price pressures finally easing – ECB’s de Guindos

The ECB has raised interest rates at every meeting over the past year and promised another hike this month The ECB has raised interest rates at every meeting ...

First increase in construction activity recorded since September of 2022

Construction activity in Ireland increased in June for the first time since September of last year, albeit slightly. New data from the BNP Paribas Real Estate Ireland Construction ...

Euro zone retail sales flat in May, still down year-on-year

Retail sales volumes in the 20 nations sharing the euro currency were unchanged from April and were 2.9% lower year-on-year. That compared with average forecasts in a Reuters ...

IFAC: Govt to boost core spending by more than stated in Summer Economic Statement

The Irish Fiscal Advisory Council has calculated that the Government plans to increase core spending next year by €5.5 billion, some €250 million more than set out in ...

1 in 3 struggling to survive financially – CCPC report

One in three people in Ireland say they are just about getting by financially, a new report conducted on behalf of the Competition and Consumer Protection Commission (CCPC) ...

2022 sees biggest fall in Government debt since 2014 – NTMA

Ireland’s General Government debt fell by €11 billion to €225 billion in 2022 and has the potential to fall below €200 billion by 2030, according to the National ...

1 in 3 struggling to survive financially – CCPC report

One in three people in Ireland say they are just about getting by financially, a new report conducted on behalf of the Competition and Consumer Protection Commission (CCPC) ...

Euro zone business activity contracts in June – PMI

Euro zone business activity slipped into contractionary territory last month in a broad-based downturn across the bloc’s dominant services industry and a deepening decline of factory output, a ...

Steady service sector growth reignites inflationary pressures

The services sector covers areas as diverse as communication, financial and business services, IT and the tourism trade The services sector covers areas as diverse as communication, financial ...

Euro zone consumers see lower inflation ahead – ECB poll

Euro zone consumers cut their inflation expectations for the following 12 months again in May, although they still saw prices growing faster than the European Central Bank would ...

53% of Northern Ireland’s exports go to Ireland – ESRI

New research from ESRI shows that the Republic accounts for more than half of Northern Ireland’s exports, mainly due to Brexit. According to the Economic and Social Research ...

Most US companies plan to increase employment here – AmCham survey

The majority of American multinationals with operations here expect to increase employment in the coming year, according to the American Chamber of Commerce Ireland. In a survey of ...

Summer Economic Statement may increase core spending by 6.1%

The Ministers for Finance and Public Expenditure and Reform Michael McGrath and Paschal Donohoe are expected to publish their Summer Economic Statement today. This document sets out the ...

Toll charges on national road network increases

Toll charges on most of the country’s national road network have increased today after a six-month deferment by the Government and there have been warnings that tolls are ...

Work-life balance act to extend leave for parents and carers

Workers will be able to avail of extended breastfeeding breaks and new unpaid leave entitlements as part of the work-life balance act. Under the legislation, the entitlement to ...

Manufacturing slump drags employment lower – PMI

A slump in manufacturing activity deepened slightly last month, hitting a fresh three year low and leading to a fall in employment in the sector for only the ...

Inflation rate estimated to have slowed to 4.8% in June from 5.4% in May – CSO

Inflation in Ireland, as measured by the Harmonised Index of Consumer Prices, is estimated to have moderated to an annual rate of 4.8% in June from 5.4% in ...

Rate of house price inflation moderates further as first time buyers dominate

The annual rate of house price inflation continued to ease during the first half of the year, the latest residential market review from property advisors DNG shows, while ...

Government announces plan to boost cybersecurity

The Government has published a plan to boost cybersecurity, which includes measures to support the potential growth of the cybersecurity industry. The Mid-Term Review of the National Cyber ...

Contactless payments surge to 3 million payments per day

The volume of contactless payments rose by almost 18% year-on-year to more than 268 million in the first quarter of the year, hitting three million payments a day. ...

ESRI downgrades GDP growth outlook for Irish economy

The Economic and Social Research Institute (ESRI) has downgraded substantially its outlook for growth in Gross Domestic Product terms for the Irish economy, but it says the underlying ...

ECB’s Lagarde sees no rate peak call in near term

Euro zone inflation has entered a new phase which could linger for some time, European Central Bank President Christine Lagarde said today, outlining a lengthy fight against price ...

EU reach data rule deal targeting Big Tech

EU countries and EU lawmakers has agreed on rules that govern how Big Tech and other companies use European consumer and corporate data, with safeguards against non-EU governments ...

EU to take next step towards digital euro

The EU is set to take the next crucial step towards launching a digital version of the euro, a controversial project that has come under attack from the ...

First-time buyers mortgage approvals hit record high

May was the busiest month for first-time buyer mortgage approvals in both volume and value terms since the figures started being collected in 2011, new figures from Banking ...

Grocery price inflation slows to 15.8% from 16.5%

New figures from Kantar show that grocery inflation rose by 15.8% in the 12 weeks to June 11, down on last month’s level of 16.5% and the lowest ...

Third of wages in 2021 came from multinationals – ESRI

A new study from the Economic and Social Research Institute (ESRI) shows that a third of the wages paid in the Irish economy in 2021 came from Multinational ...

BIS warns world economy at critical juncture in inflation fight

The world’s central bank umbrella body, the Bank for International Settlements (BIS), has called for more interest rate hikes, warning the world economy was now at a crucial ...

Optimism among Irish firms but taking action on sustainability a challenge – KPMG

Over half of Irish businesses expect to increase turnover in the next 12 months and 38% expect to expand their workforce, according to the latest research from KPMG. ...

Review of occupations on critical skills list

The Government has announced a review of the occupations eligible for employment permits under the Critical Skills Occupation List and Ineligible Occupations List. Employers and stakeholders are being ...

Wholesale electricity prices fall to lowest in 2 years, CSO figures show

Wholesale electricity prices continued to fall last month and are now back to levels not seen in two years. Figures from the Central Statistics Office show that prices ...

Euro zone business growth stalls in June – flash PMI

Manufacturing activity has been in decline since July Manufacturing activity has been in decline since July Euro zone business growth virtually stalled this month as the downturn in ...

27% of consumers can’t afford a holiday this year

As the holiday season begins, 27% of consumers say they cannot afford a holiday this year, compared with 23% last year and 19% in 2021, according to the ...

Central Bank warns Govt not to exceed 5% spending rule in Budget or risk stoking inflation

The Central Bank has warned that if Government expenditure in next year’s Budget goes beyond its 5% spending rule, it runs the risk of stoking inflation further. In ...

Oil eases on uncertain demand, market eyes US inventory data

Oil futures dipped today amid demand fears after the Federal Reserve chairman hinted at further interest rate hikes, while traders awaited official US inventory data following an industry ...

Eurostat: Prices here 46% above EU average last year

Prices in Ireland were higher than in any other European Union country last year, according to statistics agency Eurostat. Data on household consumption show that Irish prices were ...

Fuel prices jump 4% following rise in excise duty

Duty on petrol increased by 6 cents per litre and 5 cents per litre on diesel on June 1st Fuel prices have jumped over 4% when compared to ...

Supply and rate rises contributing to property price moderation – BPFI

A significant increase in housing supply since pandemic restrictions were lifted together with recent interest rate increases have contributed to a substantial moderation in property price growth, the ...

Tax cuts could contribute to persistent inflation – TASC report

Tax cuts in the budget would add fuel to an over-stimulated economy and could contribute to persistent inflation, a new report warns. The study from the economic and ...

Call for State pension to be set at 34% of average earnings

A new campaign will be launched today calling for the Government to honour its commitment to introduce a State pension rate of 34% of average earnings. The ‘Pension ...

Nearly half of those eligible for rent relief scheme yet to apply

Almost half of people eligible for the Government’s rent credit tax relief scheme have yet to apply for the help, nine months after the policy was first announced. ...

ECB risks losing sight of ‘greedflation’

The European Central Bank risks losing sight of corporate profits as a driver of inflation – or “greedflation” in market parlance – by zeroing in on wage growth ...

Oil set to snap two-week losing streak

Oil prices were set to snap a two-week losing streak today amid optimism about higher energy demand from top crude importer China and a weaker dollar. Brent futures ...

ECB rate hikes may need to last beyond summer

The European Central Bank needs to keep raising interest rates, policymakers said today, reaffirming the bank’s stance after fresh projections showed that inflation is even more stubborn than ...

Euro zone May inflation confirmed at 6.1%

Euro zone consumer inflation sharply decelerated in May, the European Union’s statistics office confirmed today, with the core price growth measure, watched closely by the central bank, also ...

Mortgage approvals fell in April as fewer movers and switchers secure loans

A decline in the numbers of people looking to switch mortgage provider or move home led to a decline in mortgage approvals in April, according to Banking and ...

ECB expected to hike interest rates by another 0.25%

The Governing Council of the European Central Bank is meeting in Frankfurt today where it’s widely expected to increase interest rates by another quarter of one percent. This ...

Oil extends downtrend as China economy stumbles

Oil rebounded today after the previous day’s plunge, as data showed a jump in refinery runs at the world’s top crude importer China, though a weak economic backdrop ...

Residential property prices rose 3.6% in April

Residential property prices nationally rose in April by 3.6% on an annual basis, according to the CSO. This compares to an annual rate of 4% in March. Prices ...

AIB increases interest rates for deposit holders

AIB and EBS have increased their interest rates on a number of deposit accounts to 2%. The 2% rate will apply to its regular online saver, its AIB ...

US Fed expected to leave rates unchanged

The US Federal Reserve is expected to leave interest rates unchanged today for the first time since the US central bank kicked off a historically aggressive round of ...

Data centres needed as economy ‘tech-centred’ – Martin

Tánaiste Micheál Martin has said Ireland is a “technology-centred economy” with a need for further data centres. He was responding to reports of concern over a surge in ...

Prices paid for farmers’ produce drop 2.2%

Returns to farmers for their produce have fallen overall from March to April this year, according to the latest figures from the CSO. Output prices for produce fell ...

Calm weather leads to drop in wind energy generation in May

Wind generated just 23% of Ireland’s electricity in May, with calm conditions leading to a 38% drop in generation when compared to April. New figures from Gas Networks ...

Government urged to tackle energy poverty in Budget

The Government is being urged to use October’s Budget to tackle energy poverty and break Ireland’s dependence on fossil fuels for home heating. A cross-section of social, environmental ...

McGrath calls on banks to keep mortgage customers out of arrears

Speaking at a Banking Payments Federation Ireland conference, Micheal McGrath said genuine people should not be allowed to fall into arrears due to higher interest rates. Speaking at ...

Slight contraction in construction activity in May

Construction activity contracted again in May, but only slightly, as demand improved. The latest BNP Paribas Real Estate (BNPRE) Ireland Construction index was still below the crucial 50 ...

Annual inflation rate slows to 6.6% in May from 7.2%

The annual rate of inflation slowed to 6.6% in May, compared to 7.2% in April, new figures from the Central Statistics Office show today. The rate of goods ...

Mortgages from credit-servicing firms face higher interest rates, Central Bank data shows

The Central Bank has published data showing customers with mortgages at credit-servicing firms face higher interest rates. The analysis shows that 90% of loans held by the so-called ...

INAB calls on businesses to be ‘accreditation aware’

Today on World Accreditation Day, the Irish National Accreditation Board (INAB) is calling on businesses to employ accredited services to test, inspect, verify or certify their products or ...

NTMA sells €1.25 billion of 2033, 2050 bonds

The National Treasury Management Agency said it sold €1.25 billion of bonds maturing in 2033 and 2050 at auction today at yields of 2.84% and 3.359%. With the ...

Household saving rate back at more typical levels in Q1 – CSO

New figures from the Central Statistics Office show that the Households Saving Rate fell to 14% in the first three months of 2023, down from 24% at the ...

Euro area falls into technical recession in Q1

The euro area fell into a technical recession in the first quarter of this year, according to figures from Eurostat. However, across the EU as a whole, growth ...

Euro zone consumers hopeful of slowing inflation – ECB survey

Euro zone consumers lowered their inflation expectations, a fresh European Central Bank survey showed today, a relief for policymakers after an unexpected surge a month earlier, even if ...

US tightens crackdown on crypto with lawsuits against Coinbase, Binance

The top US securities regulator has sued cryptocurrency platform Coinbase, the second lawsuit in two days against a major crypto exchange. This marks a dramatic escalation of a ...

Airlines urge co-operation to help curb emissions

Global airlines have called for broad co-operation to reach “very tough” emission targets and pledged to release interim climate targets next year as the industry aims for a ...

Slight fall in corporation tax in May

Corporation tax receipts dropped slightly in May according to the latest exchequer returns, underlining the volatile nature of this source of revenue. A total of €2.7 billion in ...

Increased Child Benefit payment being made this month to assist with cost of living

A once-off additional €100 in Child Benefit is being paid this month to help 650,000 families with the cost of living. The extra support means that €240 per ...

Services sector growth slows in May – PMI

Growth in the services sector slowed slightly in May but new export business grew at its fastest rate since last summer and business expectations improved, a survey showed ...

Euro zone inflation drops more than expected in relief for ECB

Euro zone inflation eased more than expected last month as underlying price growth also slowed, fuelling a debate about the need for further European Central Bank rate hikes ...

Ireland is on course to miss 2030 climate targets, says EPA

Ireland is on course to miss its 2030 climate targets by a large margin unless all sectors, including agriculture, electricity and transport, rapidly deliver further emission reductions and ...

Demand for new-build homes up 114%, Daft report shows

Demand for new-build homes jumped 114% in May when compared to the same month last year, according to new figures from property listings website Daft.ie. When all homes ...

Government approves pay increase for employment support scheme staff

The Government has approved a 5% pay increase for more than 1,600 supervisors and team leaders of employment support schemes. The pay deal will benefit employees of organisations ...

Excise duty on fuel to increase from midnight

Motorists can expect to see a jump in the cost of petrol and diesel from midnight tonight as cuts to Government excise charges begin to reverse. Petrol prices ...

Home prices may slump in euro zone as rates rise – ECB

Home prices in the euro zone may be headed for a “disorderly” decline as high mortgage rates make purchases unaffordable for households and unattractive for investors, the European ...

ECB warns of hit to top European banks if funds run into trouble

The euro zone’s top banks may take a hit if their financial clients, such as funds, insurers and clearing houses, withdrew their deposits or otherwise ran into trouble, ...

Euro zone lending growth slows again in April

Bank lending to euro zone companies and households slowed again in April, continuing the steady decline since last autumn as the economy stagnated and rapid rate hikes dented ...

Engineering and construction roles among hardest to fill jobs – report

Engineering and construction related jobs are some of the hardest positions for employers to fill, according to a new report from hiring platform Indeed. The analysis looked at ...

Gas generated 47% of electricity in April

Demand for gas fell by 10% in April compared to the same month last year, according to the latest figures from Gas Networks Ireland. Gas demand was also ...

Car sales push retail sales sharply higher again

The volume of annual retail sales rose sharply again last month due to another surge in car sales, jumping 7.5% on an annual basis, new figures from the ...

Consumer confidence hit 14-month high this month

Consumer confidence here hit a 14-month high this month, as concerns eased about the economic outlook. Hopes for additional Government measures to offer some respite from price pressures ...

ICTU calls for €2 increase to minimum wage

The Irish Congress of Trade Unions (ICTU) has called for the national minimum wage to be increased in January 2024 by €2, making the hourly rate €13.30. In ...

Finance, tech and media have highest gender pay gaps – Deloitte analysis

Financial Services, Technology and the Media and Telecommunications sectors command the highest gender pay gaps in Ireland, according to an analysis by Deloitte. The study was based on ...

Pressure likely to mount on banks to hike deposit rates

Banks are likely to come under pressure in the months ahead to offer better rates to customers putting money on deposit, according to one treasury specialist. The ECB ...

Optimism among businesses, with 55% on ‘stable footing’

Over half of businesses are on a “stable footing”, according to new research by InterTradeIreland. Its latest all-island business monitor suggests that 2023 is off to a smoother ...

Age Friendly: Why companies should value older customers

Around 800,000 people over the age of 65 are currently living and shopping in Ireland, but do companies really value their business? This age group is the wealthiest ...

McGrath to bring plan to Cabinet over corporation tax windfall surplus

Minister for Finance Michael McGrath has said he is planning to bring a proposal to Cabinet on how Ireland should deal with the large corporation tax windfall surpluses ...

Home prices rose faster than mortgage values in second half of last year

The increase in median mortgage values was slower between 2020 and 2022 than the rise recorded in property prices over the same period, new data shows. According to ...

Finance union calls for regulations for surveillance of staff

The Financial Services Union (FSU) will today urge TDs and senators to consider new regulations and legislation to cover the technological surveillance of staff by their employers. In ...

Wholesale electricity prices down over 40% in April

Prices paid for raw materials by manufacturers fell in April for the first time since November 2021, new Central Statistics Office figures show today. The Wholesale Price Index ...

Consumers more frugal due to rising costs – global survey

A new survey of global consumer sentiment shows people everywhere adjusting to higher living costs by taking action regarding their spending behaviour. The 12th EY Future Consumer Index ...

New electric vehicles 13% more expensive than last year

New data from DoneDeal shows the average price of a brand new electric vehicle (EV) now stands at €64,755, 13% higher than the same time last year. Despite ...

ECB banking on a digital euro

The European Central Bank is investigating introducing a digital currency, to keep pace with a rapidly evolving digital economy. It would be a major change in the way ...

Ireland’s credit rating upgraded to AA by S&P

Ireland’s credit rating has been upgraded by the ratings agency, Standard & Poor’s. Improved ratings by agencies such as S&P help Ireland borrow more easily and at lower ...

Almost a quarter of Irish workers are fully remote – survey

Almost a quarter of Irish workers are fully remote, according to new research from Leitrim County Council. The study shows that 61% of millennials (25-35-year-olds) are considering a ...

Drivers interested in idea of long-term car insurance

Almost half of drivers would support the introduction of some sort of long-term motor insurance, a new survey has found. More than one in every four respondents said ...

Number of house commencements down 20% in April

The number of new homes which construction started on fell 20% in April compared to the previous month, according to new data released by the Department of Housing. ...

Two thirds of SMEs feel Govt doesn’t understand them

Two thirds of small and medium sized businesses do not believe that the Government understands them, new research has found. The study also shows that four out of ...

Property price growth cools further to 3.9% in March – CSO

Prices in the residential property market continued to cool in March, according to the latest figures from the Central Statistics Office. The annual rate of residential property prices ...

5 tips for clearing credit card debt ahead of the summer

With summer round the corner, thoughts of the two week vacation, parties, barbeques, open air concerts and fun are the order of the day. For many people, using ...

Hospitality spend jumps in April, overall spend flat – AIB data show

Spending in hotels, pubs and restaurants increased last month, according to new debit and credit card data from AIB. The average daily spend in hotels jumped by 7% ...

Central banks have lost a degree of trust – Makhlouf

Central banks around the world have lost a degree of trust and need to rebuild it by explaining their decision making to a wider audience and not just ...

Euro zone first quarter GDP growth confirmed at 0.1%

Euro zone economic growth was 0.1% quarter-on-quarter in the first three months of the year, the EU’s statistics agency confirmed today, with rising employment and a sharp increase ...

European car sales rise by 16% in April – ACEA

The number of new vehicles registered in April in the European Union, Britain and the European Free Trade Association (EFTA) grew by 16.1% to 964,932 units The number ...

Climate mandate aims to phase out parking for some workers

Minister for the Environment and Climate Eamon Ryan will request Cabinet approval today for a plan to ensure public sector bodies lead by example on climate, and help ...

Fuel prices fall again in May ahead of June excise duty increase – AA Ireland

Fuel prices have fallen again slightly but are set to increase by six cents per litre for petrol and five cents per litre for diesel on June 1. ...

One in three can’t afford to retrofit their homes

One in three homeowners cannot afford to make their properties more energy-efficient, according to a survey by property advisor, Savills Ireland. It also found that most homeowners do ...

EU failing to police how big tech uses data – ICCL

Marking five years since the introduction of the General Data Protection Regulation (GDPR), the Irish Council for Civil Liberties (ICCL) has accused the EU of being unable to ...

Rate of rise in market rents slowed in first quarter – Daft.ie

The rate of increase in advertised rents slowed during the first three months of the year, rising just 1% compared to the previous quarter. Latest data from the ...

Construction sector activity shrinks for seventh month in a row

Activity in the construction sector contracted more sharply in April than in the previous month as the industry continues to struggle. The BNP Paribas Real Estate Ireland Construction ...

Barriers remain for young people finding employment

The shortage of housing and a lack of transport options are among a range of barriers preventing young people from finding jobs and entering the labour market, a ...

Inflation rate falls to 7.2% in April from 7.7% in March – CSO

New figures from the Central Statistics Office show that inflation fell to 7.2% in the 12 months to April, down from 7.7% in March. This marked its lowest ...

Younger people more likely to invest in cryptocurrency – BPFI

Generational differences in investment behaviour among consumers in Ireland has been highlighted in a survey by Banking & Payments Federation Ireland. It found that younger people more likely ...

TD calls for windfall tax for ‘profiteering’ supermarket chains

Supermarkets should be treated like energy companies and subject to a windfall tax if they are found to be profiteering, according to Labour’s finance spokesperson. Ged Nash said ...

Govt not planning intervention on grocery prices – Tánaiste

The Government has no plans for any “legislative intervention” to reduce the cost of groceries, Tánaiste Micheál Martin has said. It comes after the Competition and Consumer Protection ...

FDI into Ireland grew by 21% last year

Foreign direct investment into Ireland jumped by 21% last year, according to a new analysis. The EY European Attractiveness Survey shows that 184 new and expansion projects were ...

Sovereign wealth fund among options considered for €65bn public finance surplus

The Taoiseach has said debt reduction, increasing some of the capital budgets, and the establishment of a new sovereign wealth fund, are among the options being considered for ...

Taoiseach ‘concerned’ as 23% in arrears on gas bills

The number of domestic gas customers falling into arrears has increased from 20% to 23% in the first quarter of 2023. However, the number of domestic electricity customers ...

Govt to urge retailers over high cost of groceries, as inflation declines

Representatives of large supermarkets chains, smaller shops and the grocery industry are due to attend a meeting of the Retail Forum at the Department of Enterprise later today, ...

Increase in gas customers falling into arrears

The number of domestic gas customers falling into arrears has increased from 20% to 23% in the first quarter of 2023. However, the number of domestic electricity customers ...

Split among taxpayers around vacant homes tax

More than half of taxpayers are in favour of the Vacant Homes Tax, a new survey has found. But almost three quarters of respondents who support it think ...

Minister to outline options for expected €65bn public finance surplus

The Taoiseach has said debt reduction, increasing some of the capital budgets, and the establishment of a new sovereign wealth fund, are among the options being considered for ...

Oil prices climb as recession fears begin to fade

Oil prices rose today as fears of a recession in the US, which drove prices down for three weeks in a row for the first time since November, ...

Lack of understanding of new EU anti-greenwashing rules, research shows

Almost half of Irish companies are concerned about the costs or time involved in meeting new EU rules on greenwashing, new research shows. The Corporate Sustainability Reporting Directive ...

Government to work with retailers on rising prices – Richmond

Minister of State at the Department of Enterprise Neale Richmond has said that the Government wants to work with retailers to make sure costs people pay are reasonable ...

Unemployment falls to match previous record low of 3.9% – CSO

New figures from the Central Statistics Office show that the country’s unemployment rate fell to 3.9% in April from a revised 4% a month earlier to match the ...

ECB raises rates by 0.25% and signals ‘not pausing’

The European Central Bank raised interest rates by 25 basis points to 3.25% as expected today and signalled that more tightening would be needed to tame inflation. The ...

Ireland’s ‘macroeconomic fundamentals’ are strong, says NCPC

The National Competitiveness and Productivity Council has said that overall the country’s “macroeconomic fundamentals” are strong. In its Competitiveness Scorecard report, published every three years, the council found ...

Weekly wages down €76 due to inflation – Unite

There has been a €76 drop in real weekly wages over the past two years due to rising inflation, according to new research from the Unite trade union. ...

Irish services activity expands rapidly in April

The latest AIB Services Business Activity Index grew from 55.7 to 58.4 during the month, well above the 50 threshold separating growth from contraction. It was the twenty-sixth ...

ECB expected to increase interest rates for 7th time

The Governing Council of the European Central Bank meets in Frankfurt today where it is widely expected to increase interest rates for the seventh time since it began ...

Number of homes provided by approved housing bodies grew by 10% – report

The number of homes provided by approved housing bodies grew by 10% last year, according to the latest report from the Irish Council for Social Housing. It amounts ...

Fear of losing money the biggest barrier to investing

Fear of losing money is the biggest barrier to people investing (67%), according to a survey by Bank of Ireland which also revealed low levels of investment knowledge. ...

Irish Residential Properties REIT’s Q1 revenue up 4.9%

The country’s largest private residential landlord, Irish Residential Properties REIT, saw its revenue increase by 4.9% in the first three months of the year, driven by additions to ...

18% drop in corporate property investment in first quarter

Corporate property investment fell by 18% in the first quarter, as foreign investors paused their activity, new research has claimed. In total, €625m was invested in the Irish ...

Organisations wanted for four-day working week trial

Recruitment for a new four-day working week pilot programme has been launched today to coincide with International Workers’ Day. Companies and organisations of all sizes from every sector ...

Weak demand hits production in manufacturing sector

The downturn across Ireland’s manufacturing sector deepened at the start of the second quarter of the year amid a sharper contraction in factory production and a sustained decline ...

New mortgage drawdowns fell by a third in first quarter – BPFI

The volume and value of new mortgages drawn down in the first three months of this year fell by around a third, compared to the final three months ...

IMF urges European central banks to kill inflation ‘beast’ with rate hikes

The International Monetary Fund has today urged European central banks to “kill the beast” of inflation by pursuing interest rate hikes. “You need to go and kill that ...

Q1 GDP fell 2.7% on a quarterly basis, preliminary estimate shows

The country’s gross domestic product fell by 2.7% on a quarterly basis in the first quarter of 2023 but stood 6.4% higher than a year ago, a preliminary ...

Economic concerns cause job ads to drop 20% in first quarter

Job vacancies fell 20% in the first three months of the year when compared to the same period in 2022, according to hiring platform IrishJobs. In comparison to ...

VC investment into Irish firms plummeted 57% in the first quarter

Venture capital investment into Irish firms plummeted 57% between January and March, compared to the same period last year. Irish businesses raised $172.8m during the period through 24 ...

Significant improvement in consumer sentiment in April

Consumer sentiment has improved significantly this month as negativity about the economy and household finances subsided, new data has found.The Credit Union Consumer Sentiment Index rose to its ...

18,856 home owners pay LPT for first time in 2022 – Revenue

Revenue has today published its annual report for 2022, which it said reflected a year of strong performance with a record amount of tax and duty collected during ...

Income tax receipts surged between 2020 and 2022

Income tax receipts in Ireland rose by more over the two year period up to 2022 than they did over the seven year period up to 2019, new ...

Proportion of corporation tax paid by 10 multinationals rose to 57% in 2022 – Revenue

An analysis by Revenue of corporation tax returns last year has revealed that the proportion paid by just ten multinationals rose to 57%. Last year the amount of ...

New share buyback to cut State’s stake in AIB to 53.35%

The Minister for Finance has taken part in AIB Group’s 2023 share buyback programme on a directed basis, which will further reduce the State’s shareholding in the bank. ...

Agricultural land prices to continue to rise this year – report

The cost of farmland and renting farmland is set to continue to rise in 2023, according to a new report from the Society of Chartered Surveyors and Teagasc. ...

Motor insurance premiums fell 5% in first half of 2022 – Central Bank

Motor insurance premiums fell by 5% in the first six months of last year, according to new data compiled by the Central Bank of Ireland. The first mid-year ...

Moody’s upgrades Ireland’s credit rating to highest level in 13 years

Ratings agency Moody’s has upgraded Ireland’s sovereign credit rating. The move to the Aa3 ratings brings Ireland back to Moody’s AA category for the first time since 2010. ...

Cabinet to consider abolishing development levies temporarily

Development levies for housing could be abolished temporarily under plans to be considered by Cabinet tomorrow. The measure, yet to be approved, is designed to help increase “near-term ...

Corporate insolvencies rose 22% in first quarter

The number of corporate insolvencies recorded in the first three months of the year rose 22% compared to the same period last year. But overall the number of ...

Dollar, euro steady after strong US bank results

The US dollar and euro steadied today after strong US banking results firmed up expectations that the Federal Reserve and the European Central Bank will keep raising interest ...

Cryptocurrency regulations to be approved in EU parliament

The first set of regulations for the trading of cryptocurrency are to be approved by the European Parliament today. If passed, the measures are designed to ensure that ...

Dublin office lettings slump in first quarter

Office lettings in Dublin slumped in the first three months of the year, caused by the retrenchment in the tech sector and the growth in hybrid working. New ...

Core euro zone inflation edges up in March, keeping ECB on alert

Euro zone inflation eased last month but underlying readings remained stubbornly high, Eurostat said today. The latest figures confirmed preliminary data that raised worries at the European Central ...

Government can’t rely on ‘volatile’ corporation tax – McGrath

The Government says the right decisions must be made with the budget surplus recorded this year, according to the Minister for Finance. Michael McGrath says the Government cannot ...

Exports by Enterprise Ireland clients rose 19% to new record high in 2022

Exports by Enterprise Ireland (EI) backed companies grew by a record 19% last year to €32.1 billion, fuelled in part by the inflationary environment. It was the highest ...

Euro, dollar status should not be taken for granted – ECB’s Lagarde

The US and the euro zone should not take the international status of their currencies for granted as countries such as China and Russia seek to create their ...

Euro zone inflation to slow but ‘considerable uncertainty’ – Lagarde

The high rate of inflation in the euro zone ought to come down over the coming months, European Central Bank President Christine Lagarde said today. But she warned ...

Irish jobs market stable despite tech layoffs – Morgan McKinley

The Irish jobs market has remained resilient despite recent layoffs in the technology sector, according to the latest Morgan McKinley Ireland Quarterly Employment Monitor. It shows there was ...

State to charge 30% on increased value of land rezoned for housing

A new bill could see landowners and developers pay a charge of 30% on the difference in the value of land before and after residential zoning. The Land ...

Inflation eases to 7.7% in March from 8.5% – CSO

The annual rate of inflation eased to 7.7% in March from 8.5% in February, according to the latest figures from the Central Statistics Office today – the lowest ...

85% of Ulster Bank and KBC Bank Ireland accounts now closed

New figures from the Central Bank show that a total of 86,298 current and deposit accounts were closed in Ulster Bank and KBC Bank in four weeks to ...

Property price increases slow to 5% in February – CSO

The annual rate of residential property price increases slowed nationally to 5% in February, compared to 6.1% in January, new figures from the Central Statistics Office show. This ...

UK’s De La Rue warns FY profit below expectations on dwindling cash demand

Struggling British banknote printer De La Rue warned its fiscal 2023 profit was set to miss market expectations and next year’s outlook was uncertain, as demand for cash ...

Irish mortgage rates see surprise dip in February

New figures from the Central Bank show that the average interest rate on a new mortgage dipped in February to 2.92% from 2.93% in January. Ireland once again ...

Inbound tourism visits during Q1 still down 16% on pre-pandemic levels

The number of international visitors to Ireland over the first three months of the year remained down 16% compared to the same period in 2019, before the pandemic ...

Live register numbers down almost 1% in March – CSO

The seasonally adjusted number of people on the Live Register in March stood at 180,500 – a decrease of almost 1%, or 1,600 from the position in February. ...

Interest rates likely to fall to pre-pandemic levels – IMF

The International Monetary Fund has said it expects interest rates in major economies to fall back to pre-pandemic levels because of low productivity and ageing populations. In a ...

150,000 letters sent about unpaid Local Property Tax

Revenue has sent 150,000 letters to property owners who haven’t yet paid their Local Property Tax (LPT) or made an arrangement to pay. All residential properties were required ...

Euro zone consumers more optimistic on inflation – ECB survey

Euro zone consumers cut their inflation expectations in February and also took a more optimistic view on growth and unemployment, a fresh survey by the European Central Bank ...

ECB may need to increase rates again in May – Lane

The chief economist of the European Central Bank, Philip Lane, has said the bank’s next decision on interest rates in May will be “data-dependent” but another rise could ...

Corporation tax take jumps by 71% in first quarter of 2023

The amount of corporation tax collected in the first three months of this year is running €1.35 billion ahead compared to the same time last year. The latest ...

Euro zone recovery gathered pace in March on demand for services – PMI

The euro zone recovery picked up pace last month but the upturn was uneven across industries and countries, according to a survey which showed price pressures remained elevated ...

Growth in service sector slows in March

Growth in the country’s service sector slowed in March, according to the latest AIB Services Purchasing Managers’ Index (PMI). The data shows that the rates of increase in ...

Retailers urged to avail of €3.4m fund to enhance their online presence

Retailers are being urged to apply to a €3.4m Government fund to enhance their online presence. In the latest round of the Online Retail Scheme, funded by the ...

Most don’t shop around for financial products – ESRI

Most people do not shop around for bank accounts or financial products like loans, a survey carried out by the Economic and Social Research Institute has found. The ...

Ireland the 6th largest exporter of financial services in the world

The number of international banks and investment firms operating in Ireland continues to grow, with 17 of the world’s top 20 global banks now located here. That is ...

Manufacturing activity weakens amid drop in new orders

Activity in the manufacturing sector weakened in March, as demand dropped, new figures show today. The latest Purchasing Managers Index from AIB shows that new orders and factory ...

Asking prices for homes fall for third consecutive quarter – MyHome.ie

New data from property listings website MyHome.ie has found that asking prices for homes fell by 0.3% in the first three months of the year when compared to ...

‘Historic’ corporate tax changes to take effect from next January

Minister for Finance Michael McGrath has said changes to Ireland’s corporate tax rate will take effect from next January and described it as a “historic change” in the ...

Inflation rate estimated at 7% in March, down from 8.1% in February – CSO

Inflation in Ireland, as measured by the Harmonised Index of Consumer Prices, is estimated to have moderated to an annual rate of 7% in March, the latest figures ...

New legal association launched for media, internet and data protection

The Bar of Ireland has launched the Media, Internet and Data Protection Bar Association (MIDBA). It is a new Specialist Bar Association aimed at legal professionals who practice, ...

Company profits driving up inflation more than higher wages – ECB

A European Central Bank staff paper published today says bigger company profits are driving inflation more than higher wages. The paper – “How tit-for-tat inflation can make everyone ...

ICTU welcomes passage of Work Life Balance Bill

The Irish Congress of Trade Unions (ICTU) has welcomed the passage of the Work Life Balance Bill by both Houses of the Oireachtas. The legislation will introduce a ...

Migrant employment harder hit by Covid restrictions – ESRI

Migrant labour market outcomes were more affected by the Covid-19 pandemic and associated public health restrictions than those of Irish-born workers, a new study from the Economic and ...

IFAC recommends Govt sets up State pension fund

The Government has been urged by budgetary watchdog the Irish Fiscal Advisory Council to take steps now to ensure State and public sector pensions are funded into the ...

Financial literacy levels here lag other countries – Bank of Ireland study

Financial literacy levels in Ireland appear to lag those in other comparable jurisdictions, a study carried out on behalf of Bank of Ireland concludes. The survey of over ...

Small firms conned out of €8m through fraud last year

Small firms were conned out of €8m last year as a result of cases of invoice and so-called CEO impersonation fraud. The Banking and Payments Federation Ireland’s (BPFI) ...

Economy facing risk of overheating this year – ESRI

The economy is set to grow more strongly this year than had been expected and may even overheat, according to the latest quarterly bulletin from the Economic and ...

Over 60,000 homes could be built on State-owned land – report

More than 60,000 homes could be built on State-owned land, according to a report going to Cabinet this morning. The Report on Public Land identifies 83 State-owned sites ...

Irish base for EU Anti-Money Laundering Authority to be considered

Minister for Finance Michael McGrath will today seek Cabinet approval for Ireland to apply to become the base for the new EU Anti-Money Laundering Authority (AMLA). The AMLA, ...

Total value of Irish pensions fell almost 16% in 2022

The total value of Irish pensions fell by almost 16% last year, according to new figures. Rising interest rates and the geo-political uncertainty caused by the war in ...

Overall gas demand down 11% in February from January

Mild weather February saw the country’s overall gas demand fall by 11% compared to January, and decrease by 25% in the residential sector month on month. Demand for ...

Interest rates on some State savings products to rise

The interest rates on a range of medium to long-term State savings products are to increase, on foot of several hikes of European Central Bank interest rates since ...

80% rise in home energy upgrades last year – SEAI

The Government supported almost 27,200 home energy upgrades or retrofits last year through the Sustainable Energy Authority of Ireland. The SEAI says this is an 80% increase on ...

EU leaders to focus on risk of banking contagion

EU leaders meeting for the second day of a summit in Brussels will be briefed by the European Central Bank about the risks of contagion in the banking ...

Decline in switching activity leads to drop in new mortgage approvals in February

A decline in switching activity following a busy period that saw many borrowers lock in fixed rates, contributed to a fall in new mortgage lending last month according ...

35% of consumers struggling to cope with inflation – study

The latest monthly Credit Union Consumer Sentiment Survey has found that 35% of consumers said they are struggling to cope with the impact of inflation on their household ...

Electric car grant to be cut to €3,500 from €5,000 from July

The Department of Transport has today confirmed that the maximum private vehicle electric car grant will be set at €3,500 from July 1, down from the current maximum ...

Tech sector in a ‘state of flux’ as job cuts continue

The director of Technology Ireland has said recent lay-offs by technology companies shows that the sector is somewhat in a state of flux. Speaking on RTÉ’s Morning Ireland, ...

Govt to set up tillage group amid doubts on land targets

A new group to examine the future of the tillage sector is being established by Minister for Agriculture, Food and the Marine Charlie McConalogue. The development comes as ...

Many vacant home refurbishments unviable unless grants rise – report

A new report has cast doubt on the financial viability of renovating many vacant or derelict properties, without a significant increase in Government grants being made available. The ...

McGrath confident Irish banking sector can withstand global turbulence

Minister for Finance Michael McGrath has expressed confidence in the Irish banking sector to withstand the turbulence being experienced in the global market. Mr McGrath updated his Cabinet ...

EU to propose clampdown on companies using fake ‘green’ claims

The European Commission wants to require companies in Europe to back up climate-friendly claims about their products with evidence, under draft rules to stamp out misleading green labels ...

Programme for young entrepreneurs to be expanded

Patch, an accelerator programme for young entrepreneurs, has announced an all-island expansion. The initiative is open to 16-21-year-olds in Ireland and Northern Ireland and has received a new ...

Unions and employers call for inclusive workplaces

The Irish Congress of Trade Unions and business group Ibec have released a joint statement to mark International Day for the Elimination of Racial Discrimination. The two organisations ...

Six out of ten people don’t claim medical tax refunds

Six out of ten taxpayers in Ireland still do not claims tax relief on their medical expenses, a new survey has found. While four out of every ten ...

A quarter of respondents said they were thinking of opening a credit union account

82% of the public fear that consumers will be impacted by the decrease in banking competition caused by the exit of Ulster Bank and KBC Bank Ireland from ...

Fuel merchants seek crackdown on coal smuggling

An organisation representing solid fuel merchant in Ireland has called for Government action to stem smuggling of coal into the country. Solid Fuel Merchants Ireland (SFMI) claims coal ...

Tourism trade event Meitheal gets underway in Killarney

Significant business deals are expected to be signed over the next three days at Meitheal – the largest trade event for the Irish tourism industry. More than 450 ...

Home price growth slows to 6.1% in January – CSO

The pace of residential property price inflation slowed to an annual rate of 6.1% in January, compared to an annual rate of 7.7% in December, according to the ...

ECB expected to raise interest rates again today

The European Central Bank’s governing council is widely expected to raise interest rates by another half a percentage point today after its meeting in Frankfurt. The ECB’s move ...

Irish banking sector ‘in good stead into the future’ – BPFI

The level of capitalisation and liquidity in the Irish banking sector is very strong, the chief executive of the Irish Banking and Payments Federation Ireland (BPFI) has said. ...

EU publishes proposed changes to electricity market rules

The European Commission has proposed changes to Europe’s electricity market rules, to try to increase the use of fixed-price power contracts, shield consumers from price spikes and speed ...

ECB likely to stick to big rate hike despite banking turmoil – source

European Central Bank policymakers are still leaning towards a half-percentage-point rate hike tomorrow, despite turmoil in the banking sector, as they expect inflation will remain too high in ...

Consumers warned over pitfalls of online shopping

Irish online consumers can be led into over consumption, over indebtedness and may lose out on fair pricing and terms due to online e-commerce practices by some sellers, ...

Finance Ireland to increase fixed mortgage rates by up to 0.75%

Non-bank lender, Finance Ireland, is increasing its fixed mortgage rates by up to 0.75%. The company said 5-year fixed rates will increase by 0.5%, while 3-year fixed rates ...

MEPs to vote on minimum energy standards for buildings across EU

MEPs will vote later today on proposals to set minimum energy standards for buildings across the EU. Among the changes, the heating and cooling of new buildings will ...

Nearly 27,000 new homes to be delivered this year, BPFI predicts

Nearly 27,000 new housing units will be delivered this year, new figures from Banking and Payments Federation Ireland (BPFI) suggest. The latest BPFI housing market monitor shows that ...

Hotels almost sold out for St Patrick’s weekend despite high prices

Hotel rooms in Dublin city are almost completely sold out ahead of St Patrick’s Day, with rooms also in demand for the Six Nations championship and Mother’s Day ...

In the money – Irish banks are boosted by rates bounce

The banking sector has been no stranger to dramatic developments in recent years. Indeed, the past 15 months have not been without their fair share of twists, which ...

Fall in workplaces trialling four-day week, survey finds

There has been a fall in the number of companies implementing or trialling a four-day working week, according to a new survey. The study by recruitment company Hays ...

Households saving rate stays high at 20% in Q4 – CSO

New figures from the Central Statistics Office show that households’ saving remained high during the last three months of 2022. The CSO said the Households Saving Rate stood ...

Warning issued about serious rise in investment scams

Consumers have been warned of a serious rise in highly convincing investment scams that are being carried out by fraudsters. The scams are particularly targeted at those over ...

Irish mortgage rates increase in January after ECB hikes

Mortgage rates went up in January reflecting some of the effect of successive interest rate rises from the European Central Bank. New data from the Central Bank also ...

Central Bank forecasts inflation to fall to 5% this year

Inflation is forecast to fall to 5% this year and household incomes are expected to improve, according to the Central Bank. In its latest Quarterly Bulletin, the bank ...

US and EU to begin talks on free-trade-like status

US President Joe Biden and European Commission President Ursula von der Leyen are expected to agree to begin negotiations on ensuring free-trade agreement-like status for the European Union, ...

23% of consumers struggling with higher grocery prices

Nearly a quarter of consumers are struggling to make ends meet due to rising grocery prices, according to research conducted on behalf of Love Irish Food. The study, ...

87% of women feel more burnt-out at work since pandemic

The survey was carried out among 1,000 women and men across Ireland, with the findings published today to mark International Women’s Day. The data suggests that maintaining work-life ...

1 in 12 private vehicles in Ireland are uninsured – MIBI

The Motor Insurers’ Bureau of Ireland (MIBI) will tell an Oireachtas committee later today that Ireland may now have the highest level of uninsured vehicles in the EU. ...

Temporary changes to how BIK is charged on company cars and vans

The Government has announced temporary changes to how Benefit-in-Kind (BIK) is charged on company cars and vans, after complaints that reforms introduced at the start of the year ...

Grocery price inflation hits new record high of 16.4%

Shoppers spent an additional €113.56 per buyer in the 12 weeks to February 19 compared with the same time last year, new figures from Kantar show today. The ...

More work needed on women moving into senior leadership roles

Listed companies here have on average 32% female representation at board level, new figures from the Balance for Better Business Review Group show. For the first time, Ireland ...

Rising costs set to impact summer holiday plans for most

74% of Irish consumers expect rising costs to impact their summer holiday plans for this year, according to new research by global tech company Wise. When respondents factored ...

Is the market bounce of 2023 fading rapidly?

2022 was a pretty dismal year for equity markets. Having kicked January off at all-time highs, stock valuations rapidly went south as inflation precipitated a round of interest ...

Energy rating an important consideration for prospective house buyers – MyHome study

Energy concerns are to the fore among prospective house buyers, a new survey suggests, as the cost-of-living squeeze continues to bite. The property website MyHome.ie sought the views ...

Local Enterprise Week kicks takes place against challenging commercial backdrop

Up to 10,000 business people, and those hoping to establish a business, are expected to take part in more than 300 events over the coming days to mark ...

Public finances show deficit of €2.5bn at end of February

The public finances were €2.5 billion in deficit at the end of February. However, this was due to the transfer of €4 billion to the National Reserve Fund. ...

More than a third of employees feel invisible or under-appreciated at work

More than one third of employees in Ireland feel invisible or under-appreciated at work, according to a new survey. The Workhuman Human Workplace Index found that almost half ...

Growth in service sector picks up in February

The latest AIB Services Purchasing Managers’ Index (PMI) reveals that growth in the country’s service sector picked up in February. The business activity index rose to 58.2 last ...

Inflation back up to 8% in February from 7.5% in January – CSO flash reading

The annual rate of inflation went back up to 8% in February, compared to 7.5% in January, according to an initial estimate from the Central Statistics Office. Energy ...

Global energy-related CO2 emissions edged up to record high in 2022 – IEA

Global energy-related emissions of carbon dioxide hit a record high last year, although more clean technology such as solar power and electric vehicles helped limit the impact of ...

Unemployment rate eases to 4.3% in February from 4.4% in January – CSO

The country’s unemployment rate fell to 4.3% in February from 4.4% the previous month, new Central Statistics Office figures show today. The jobless rate has remained between a ...

Energy firms urged to include households in discounts

A charity has called on energy companies to pass on discounts to struggling families. On Monday, Electric Ireland said it was cutting its electricity tariffs for small and ...

Young inventors targeted as part of engineering award

The annual James Dyson Award, an engineering competition focused on sustainability, is accepting submissions from young inventors from today. The award is aimed at undergraduates and recent graduates ...

Manufacturing activity improves amid rise in new orders

Activity in the manufacturing sector improved in February amid a rise in new orders, according to the latest AIB Purchasing Managers Index (PMI). After a period of weak ...

€16bn worth of mortgages approved in 12 month period – record high

Almost €16 billion worth of mortgages were approved in the 12 months ending January 2023, according to new figures from Banking and Payments Federation Ireland. This was the ...

ECB has started to win inflation fight – Lane

Euro zone inflation pressures have begun to ease, including for all-important core prices, but the European Central Bank will not end rate hikes until it is confident price ...

Electric Ireland to cut rates for SMEs from next month

Electric Ireland will reduce its electricity tariffs for small and medium enterprises in the Republic of Ireland by an average of 10% from next month. Gas prices for ...

Inflation rate expected to fall ‘much more rapidly’ than assumed

The Minister for Finance has said he expects inflation to fall “much more rapidly than previously assumed.” Speaking ahead of a speech to the Irish Tax Institute in ...

Gas still biggest source of electricity generation despite dip in January

Gas generated 42% of the country’s electricity demand in January, new figures show today Gas generated 42% of the country’s electricity demand in January, new figures show today ...

Ibec upgrades economic growth forecasts

Employers’ group Ibec has upgraded its forecasts for growth in the economy this year in its latest Quarterly Economic Outlook. It now forecasts that the domestic economy will ...

Number of people in employment hits record high – CSO

The number of people in employment increased by 68,600 or 2.7% to 2,574,500 in the year to the fourth quarter of 2022, according to the Central Statistics Office. ...

Access to finance biggest challenge for tech start-ups – Scale Ireland

Access to finance is the biggest challenge facing tech startups here, a survey of founders by Scale Ireland concludes. Four in five respondents to the latest State of ...

Signs of easing in rate of construction price inflation – SCSI Index

The rate of increase in prices in the construction sector is showing signs of easing, a new report from the Society of Chartered Surveyors suggests. The latest SCSI ...

Global debt sees first annual drop since 2015 – IIF

The post-pandemic rebound in world growth and inflation last year meant the amount of debt sloshing around the global economy saw its first annual fall in dollar terms ...

Households €1,000 worse off due to inflation – CSO

Households were €1,000 worse off last year when inflation was taken into account – despite a rise in the median annual household disposable income – according to new ...

Monthly wholesale electricity prices down 41% – CSO

The wholesale price of electricity fell further in January, dropping by 41.4% compared to December, according to the latest figures from the Central Statistics Office. Wholesale electricity prices ...

Fruit and veg imports hit by poor weather in Europe

A number of retailers in Ireland say they are experiencing availability issues with certain fruit and vegetables. They say salad products such as tomatoes, peppers and cucumbers are ...

Welfare bonus announced but no new energy credit

The Government has agreed a more targeted cost-of-living package, along with some universal payments, with €470m set to be allocated for social protection measures. It follows a meeting ...

Govt to expand TBESS, keep 9% VAT rate until September

The Government has today announced more measures to help businesses deal with cost-of-living increases. It announced a final extension of the 9% reduced VAT rate for the hospitality ...

European new car sales up 10.7% in January

European new car sales up 10.7% in January European new car registrations jumped in January, data from the region’s carmaker association showed today. The number of new vehicles ...

Working group set up to tackle disinformation

The Government has established a working group to coordinate efforts to combat the spread of disinformation on the internet. The multi-stakeholder group will be tasked with providing a ...

Welfare and child benefit bonuses in cost-of-living plan

The Government’s latest cost-of-living package is on course to exceed €1.2bn, of which €400m looks set to be allocated for social protection measures. It follows a meeting last ...

Could rising interest rates cause property prices to fall?

Property markets worldwide are showing signs of slowing in response to higher interest rates with some going into reverse already. Here, the annual rate of growth in property ...

Coalition leaders set to finalise cost-of-living plans

Senior coalition figures will meet this evening to finalise plans on cost-of-living measures, with the final package due to be signed off by the full Cabinet tomorrow. It ...

1 in 12 vehicles on Irish roads not insured – Motor Insurer’s Bureau of Ireland

The number of uninsured private vehicles on Irish roads grew for the third year in a row, according to new research carried out by the Motor Insurers’ Bureau ...

Annual rate of inflation slows to 7.8% in January – CSO

New figures from the Central Statistics Office show that the annual rate of inflation slowed to 7.8% in January from 8.2% in December. The CSO said that prices ...

1 in 5 Irish firms experienced cyber attack last year – survey

Almost one in five Irish firms experienced a cyber attack or data breach in 2022, according to a new survey. The study from professional services firm Aon shows ...

Ministers finalising proposals on cost of living measures

Work is set to continue across Government over the next few days on drawing up another round of measures to assist households to cope with the rising cost ...

House price growth slows to 7.8%, down from 8.5% – CSO

The rate of increase in residential property prices nationally continued to slow during the final month of last year, according to the latest data from the Central Statistics ...

Govt examining new round of cost-of-living supports Draft

The Coalition leaders and senior ministers will consider a new round of cost-of-living financial supports later today, ahead of a decisive Cabinet meeting on Tuesday. Taoiseach Leo Varadkar ...

Irish exports and imports hit record highs in 2022

The value of Irish exports and imports hit a new record high last year, according to the Central Statistics Office, despite the challenging economic backdrop. Total exports reached ...

‘Golden visa’ programme to be scrapped

Applications will no longer be accepted under the Immigrant Investor Programme (IIP) from the close of business on Wednesday, the Minister for Justice has confirmed. Simon Harris said ...

For richer, for poorer: The wedding business is booming

After a pandemic imposed shutdown, the wedding sector is booming once again. But that surge in demand, coupled with inflation means those looking to say ‘I do’ can ...

Decision on VAT rate for hospitality expected next week

Taoiseach Leo Varadkar said there will be further meetings this week in relation to the hospitality VAT rate, involving the key ministers of finance, public expenditure, social protection ...

Further health insurance price hikes this year ‘cannot be ruled out’ – expert

Further increases in health insurance premiums cannot be ruled out later this year, according to one health insurance expert. Laya Healthcare followed rivals Irish Life Health and VHI ...

€18m support scheme for haulage businesses proposed

Minister of State Jack Chambers is set to bring proposals for the Licensed Haulage Support Scheme to Cabinet that will provide €18 million to assist licensed haulage businesses ...

European Commission raises Irish, euro zone growth forecasts

The European Commission has revised upwards its forecasts for economic growth this year in Ireland. In its Winter 2023 Economic Forecast, released today, the Commission predicts the economy ...

Commercial semi states paid out dividends of €199.4m

Commercial semi-state companies last year paid out aggregate dividends of €199.4 million to the exchequer. The €199 million paid out in 2022 is a 31.4% increase on the ...

Call for extension and streamlining of ‘extremely complex’ TBESS application process

IMSE, the group representing small and medium sized firms, has called for the continuation of the Temporary Business Energy Support Scheme beyond the end of February and for ...

Consumer spending in January up 17.8% – Revolut

Consumer spending last month rose by 17.8% compared to the same month a year ago, according to the latest data released by online bank Revolut. However, the growth ...

McGrath rules out introducing mortgage interest relief

The Minister for Finance has ruled out introducing mortgage interest relief for owner-occupiers, warning that such a move could cost €655m a year. Speaking in the Dáil, Michael ...

EU prepares response to new US green subsidy plan

Confronted by competition from the US’s vast green tech investment plan, European leaders have opened the way towards a relaxation of their own restrictions on state aid. Meeting ...

Electricity customers to get payment of €89.10 – CRU

will receive a payment of €89.10 as the charge to fund renewables is not needed due to the high wholesale price of electricity. The payment will be made ...

Wednesday the most popular day for office workers

Wednesday is the most popular day of the week for employees to work from the office, according to a survey by Dublin Chamber in association with Savills Ireland. ...

Borrowers struggling financially urged to contact their financial institution

Deputy Governor of the Central Bank, Monetary and Financial Stability, Vasileios Madouros has said borrowers who find themselves in financial difficulty or who expect they may experience financial ...

€1.6 billion of personal loans drawn down in 2022, up 18.8%

€1.6 billion worth of personal loans were drawn down last year, up almost 19% on 2021, new figures show today. The figures from Banking and Payments Federation Ireland ...

€4 billion transferred to National Reserve Fund

€4 billion has been transferred into the National Reserve Fun by the exchequer. It follows a decision in the budget in September to bolster the State’s reserves. “On ...

Dry and High: The boom in 0% drinks in Ireland

Non-alcoholic drinks are far from a new concept in the Irish market. 30 years ago Billy Connolly was starring in adverts for Kaliber – the non-alcoholic lager brewed ...

Grocery price inflation soars to new record of 16.3%

New figures from Kantar show that grocery price inflation hit 16.3% in the 12 weeks to 23 January – the highest level seen since the consultants started tracking ...

Cabinet to hear planned changes to State-backed mortgage scheme

The Cabinet will be briefed by Minister for Housing Darragh O’Brien today on plans to increase thresholds for a State-backed mortgage scheme for people who cannot get loans ...

Increase in searches for part-time and casual work as wage growth slows

There has been an increase in job searches for part-time and weekend work, as well as jobs requiring no experience, according to job site Indeed. The company said ...

New legislation to reduce cost of injury claims

A Government initiative to increase the number of personal injury claims settled through mediation will begin to come into force next week. Last year, the Government steered legislation ...

Work-life balance, not pay, biggest factor for Irish job seekers

Work-life balance is now the number one influence for Irish professionals when they are seeking a new job, research has found. The study also revealed that nearly six ...

Growth in service sector picks up in January

Growth in the country’s service sector picked up in January, according to the latest AIB Services Purchasing Managers’ Index (PMI). The data shows that activity and new business ...

Irish debt burden among highest per capita in the world at €44,250

The national debt stood at €226 billion at the end of last year, according to the Department of Finance’s Annual Report on Public Debt in Ireland. That is ...

ECB expected to hike interest rates by further 0.5%

The Governing Council of the European Central Bank meets in Frankfurt today where it is widely expected to increase interest rates by a further half a percentage point. ...

European Parliament President to address Oireachtas

European Parliament President Roberta Metsola will address a joint sitting of the Oireachtas later today. Ms Metsola arrives in Ireland this morning for the start of a two-day ...

Euro zone inflation drops to 8.5% in January from 9.2% in December

Inflation in the euro area fell to an annual rate of 8.5% in January from 9.2% in December, according to an initial estimate from Eurostat. Energy inflation fell ...

Hairdressers warn salons at risk if VAT rate rises

The Irish Hairdressers Federation has called for the retention of the 9% VAT rate for the sector ahead of its planned rise in the coming weeks. The rate ...

Irish economy grows three times faster than euro zone average in 2022

The EU’s statistical agency, Eurostat, has estimated that the euro area economy, measured by GDP, grew by 0.1% in the last three months of last year compared to ...

Annual rate of inflation slows to 7.7%, CSO estimates

The annual rate of inflation slowed to 7.7% in January, according to an initial estimate by the Central Statistics Office. This compares to an annual rate of 8.2% ...

RTB pausing and refunding late fees to landlords

The Residential Tenancies Board is applying a temporary pause on the charging of late fees in recognition of “the genuine difficulties” experienced by landlords who have been trying ...

70% of consumers considering buying an electric vehicle

70% of consumers in Ireland are considering an electric vehicle as their next car purchase, a new survey by DoneDeal shows. The figures show that demand on the ...

Rent tax credit adds to volume of calls to Revenue

Revenue is experiencing a higher volume of calls due to tenants enquiring about the new rent tax credit. The measure, introduced in Budget 2023, allows tenants paying rent ...

More interest rate hikes in prospect? Almost certainly

After six years of interest rates sitting at rock bottom, it came as a bit of a jolt when the European Central Bank started raising rates last summer. ...

2023 travel trends: Cruises, safaris and budget trips

From cruising around the Mediterranean, to backpacking across South America, international travel is set to return full force this year. ‘Revenge travel’ is a phrase being used to ...

Businesses urged to avail of energy bill aid scheme

Businesses are being urged to claim for State help with energy bills as new figures show there has been a low take-up so far of a Government scheme. ...

28,786 housing units in large developments await An Bord Pleanála permission

There are 28,786 proposed units in a series of large housing and apartment developments currently awaiting a planning permission decision from An Bord Pleanála, according to a new ...

Warning of unsustainable mortgages due to rising rates

The Central Bank faced strong criticism from some TDs at the Oireachtas Finance Committee yesterday over the higher mortgage rates being paid by customers whose loans were sold ...

Almost 30,000 new home completions in 2022 – CSO

The number of new dwellings completed in 2022 reached 29,851, according to new figures from the Central Statistics Office today. The CSO said this represents an increase of ...

Irish film industry hopes Oscar nods will drive further investment

Buoyed by the number of Oscar nominations for Irish films and actors ahead of this year’s awards, the industry is hoping the international spotlight will drive further investment ...

75 ‘ghost estates’ still in place across Ireland

A total of 75 so-called “ghost estates” still exist across Ireland more than 15 years after the Celtic Tiger economic and property crash. New figures obtained by RTÉ ...

Consumer sentiment hits seven month high in January

Irish consumer confidence hit a seven month high in January, according to the latest Credit Union Consumer Sentiment index. The data suggests that consumers had a less negative ...

Recent market rally prompted by improved outlook

Europe’s main stock markets were little changed at the open today, failing to mirror strong overnight gains in Tokyo and on Wall Street. Stock markets have notched up ...

677,000 visitors to Irish whiskey distilleries in 2022

Visitor numbers are still down a third on the pre-Covid peak of 1.02 million Irish whiskey distilleries around the island of Ireland attracted 677,000 visitors last year, an ...

Euro zone January business activity returns to growth – PMI

Euro zone business activity made a surprise return to modest growth in January, adding to signs the downturn in the bloc may not be as deep as feared ...

Under-insurance leaving thousands of householders exposed

Nobody needs reminding that we’re in the midst of a cost-of-living crunch. With the price of pretty much everything rising, we’re looking for ways to make savings wherever ...

Hairdressers call on Govt to cut VAT rate to 5%

Hairdressers have become the latest group to appeal to the Government to retain the 9% VAT rate, which is due to expire at the end of February. But ...

370,000 tax returns processed for PAYE taxpayers so far

New data from Revenue shows more than 370,000 tax returns have been processed for PAYE taxpayers who have filed their returns for last year. This represents a 30% ...

Euro clears nine month peak as ECB hawks let fly

The euro scaled a nine-month high on the dollar today as more hawkish comments on European interest rates contrasted with market pricing for a less aggressive Federal Reserve. ...

365 jobs secured under small firm rescue process – Baker Tilly

365 jobs have so far been secured as a result of 16 small businesses availing of the expedited restructuring process for viable small firms which need to be ...

Ireland to avoid recession in 2023 report predicts

Ireland will avoid recession this year, due to record household savings and the capacity for the Government to provide support with what a report describes as “the best ...

Wealthier households more likely to receive inheritances – Central Bank

Research published by the Central Bank today reveals that over one third of households in Ireland have received an inheritance. The accumulated value of these inheritances is estimated ...

Taoiseach meets big tech at Davos

The Taoiseach is attending the World Economic Forum in Davos where he is meeting political leaders and the chief executives of US multinationals. In the Swiss mountain resort, ...

Jobs market ‘cooling’ amid fall in vacancies

Job vacancies were down by 11% in the fourth quarter of 2022 compared to the previous year, according to a new study. The latest IrishJobs.ie Jobs Index also ...

Property price growth slows as Dublin prices fall

Residential property price inflation slowed further in November to a rate of 8.6%, down from 9.7% in October, according to the latest figures from the Central Statistics Office. ...

Euro zone inflation eases to 9.2% as expected

Euro zone consumer inflation decelerated as expected in December, the European Union’s statistics office Eurostat confirmed today, thanks to a continued fall in energy prices that had earlier ...

‘Whole range of measures’ as part of EV charging plan – Ryan

Minister for Transport Eamon Ryan has said “a whole range of measures” will be rolled out as part of the national strategy for electric vehicle charging infrastructure being ...

Annual rate of inflation slows to 8.2% in December – CSO

The annual rate of inflation last month continued to moderate, according to the latest figures from the Central Statistics Office. The Consumer Price Index eased to 8.2% in ...

Over half of professionals here considering moving jobs

Despite economic uncertainty and the global hiring slowing down, 59% of Irish professionals are considering changing jobs in 2023 according to new research from LinkedIn. The data also ...

Govt urged to introduce pension auto-enrolment ‘as quickly as possible’

The Pensions Authority is expected to tell the Oireachtas Committee on Social Protection today that the Government should introduce pension automatic enrolment as quickly as possible. In October, ...

ECB must keep raising rates to fight off inflation – Lane

The European Central Bank must raise interest rates to a level that starts to restrict growth and their peak will depend on how the economy responds to the ...

Employers hope to attract workers to the north west with Dublin event

A number of agencies will come together to promote the north west with some of the region’s biggest employers at an event in Dublin next month. The goal ...

3,500 net new jobs created by LEOs last year

Nearly 3,500 net new jobs were created by companies supported by Local Enterprise Offices (LEOs) around the country last year despite the economic challenges. In total 7,870 new ...

Movies and TV productions share in €127.3m corporation tax credits for 2022

New movies starring Liam Neeson, Kerry Condon, Sarah Greene and Russell Crowe were some of the big winners in the Revenue Commissioners’ Section 481 film corporation tax credit ...

Agreement over NI Protocol important – Enterprise Ireland CEO

The Chief Executive Officer of Enterprise Ireland has said that Ireland was uniquely placed to do well in global markets, but reaching an agreement on the Northern Ireland ...

Live Register numbers up marginally in December

All counties saw an increase in the number of people on the Live Register in the 12 months to December All counties saw an increase in the number ...

Payments to businesses of €9.5m approved under TBESS so far

€9.5m has been approved for payment so far under the Government’s €1.3 billion Temporary Business Energy Support Scheme (TBESS). The scheme was announced as part of Budget 2023 ...

Sales of electric cars increased by 81% in 2022 – CSO

The number of new electric cars licensed for the first time in 2022 increased by 81% to 15,462 compared with the previous year, according to figures from the ...

Changes in shopping behaviour due to food inflation

Irish people are changing their shopping behaviour and their attitudes toward food and drink, according to detailed new consumer research prepared for Bord Bia. The research shows more ...

Irish food and drink exports reach record high of €16.7 billion

The value of Ireland’s food, drink and horticulture exports increased by 22% last year to reach a new record high of €16.7 billion. Bord Bia’s Export Performance and ...

Unemployment rate drops slightly in December to 4.3% – CSO

The unemployment rate declined marginally in December to 4.3% from 4.4% in November, according to the Central Statistics Office. This compares to a rate of 5.1% in December ...

New Irish mortgage rates 3rd lowest in euro area

Interest rates on new mortgages remained unchanged in November, according to the latest figures from the Central Bank. The weighted average rate on new mortgages was 2.57%. This ...

EU reaches agreement with UK on access to IT system

The EU and UK have reached an agreement on EU access to UK IT systems governing the movement of goods from Britain to Northern Ireland in what is ...

Grocery sales hit a record-breaking €1.3 billion as inflation bites

New figures from Kantar show that grocery inflation here now stands at a record high of 15.4% for the 12-week period ending December 25, 2022. Kantar said this ...

Employment at Enterprise Ireland backed firms rose 5% last year

The number of people employed at firms backed by Enterprise Ireland (EI) rose 5% last year to 218,178, despite the difficult trading environment. It said 10,841 net new ...

Retail sales volumes slow down in November – CSO

Retail sales volumes in November declined from the previous month as increases in sales of clothing and electrical goods failed to offset sharp falls in the bar and ...

Remote and hybrid job posts up 43%

Irish job posts offering remote and hybrid work have increased by 43% over the last 12 months according to a new study. The report has been published by ...

Euro zone inflation falls sharply in December but offers ECB little respite

Euro zone inflation fell by more than expected last month but underlying price pressures rose, making it likely the European Central Bank will continue raising interest rates for ...

Inflation hit a 38 year high in 2022 but economy strong – CSO

The Central Statistics Office has published an online compilation of significant statistics about the economy and business recorded last year. The report notes that inflation reached a 38 ...

Euro zone producer prices fall as expected in November

Euro zone producer prices fell month-on-month as expected in November, the EU’s statistics office said today, pulled down by falling costs of energy. The European Union’s statistics office ...

Flexible working hours good for business – UN

Flexible working arrangements like those introduced during the Covid-19 crisis are not only good for employees but also boost productivity and potentially a business’s bottom line, the United ...

Euro zone recession may not be as deep as expected – PMI

Euro zone business activity contracted less than initially thought at the end of last year as price pressures eased, according to a survey which suggested the bloc’s recession ...

Exchequer collected record €83bn in tax last year

The Exchequer collected a record €83.1 billion in tax last year, according to figures published this evening by the Department of Finance. That is €14.7 billion ahead of ...

Services sector growth picks back up in December

Expansion in the services sector picked up in December following four months of slowing growth in a row to push overall activity in the private sector back into ...

105,253 new cars registered in 2022, down 10% on 2019

105,253 new cars were registered last year, up marginally on 2021, but down 10% on the pre-Covid levels recorded in 2019. The figures from the Society of the ...

Croatia joins the Euro and enters Schengen area

Croatia has switched to the Euro and entered Europe’s passport-free zone – two major milestones for the country after joining the European Union nearly a decade ago. At ...

Remote working, new employment laws and pay claims – the world of work in 2022

The Covid pandemic led to a reimagining of the concept of work. Forced to stay at home, employees and businesses quickly realised that tasks they had always performed ...

Euro zone business lending growth slows sharply in November

Bank lending to euro zone companies slowed in November, easing back from the sector’s biggest borrowing binge in over a decade as rising interest rates and a looming ...

Manufacturing contracts amid sharp fall in new orders

The Irish manufacturing sector contracted for the second month running in December, the latest Purchasing Managers Index (PMI) from AIB concludes. The deterioration in conditions came on the ...

Rate of growth in prices being sought for properties slows to 6% – MyHome.ie report

The annual rate of growth in prices being sought for properties nationally slowed to 6% in the final three months of 2022, a new report from property website ...

Updated Climate Action Plan ‘charts the way forward’ – Taoiseach

Taoiseach Leo Varadkar has said Ireland can become energy independent within a generation or less and that this generation should be the one that turns the tide on ...

ECB might raise interest rates at current pace for a while – de Guindos

The European Central Bank may raise interest rates at its current pace for a “period of time” to curb inflation, Vice-President Luis de Guindos said today. “We have ...

Hiring rates decline but focus on ‘green talent’ – report

Hiring rates have declined from post-pandemic highs, according to IDA Ireland’s latest Labour Market Pulse. The study, which is published in partnership with Microsoft and LinkedIn, shows that ...

Reducing car journeys in updated Climate Action Plan

An updated national Climate Action Plan outlining accelerated economy-wide measures to reduce greenhouse gas emissions will be unveiled by the three Government leaders later this afternoon. It is ...

Businesses to get first TBESS payments this week – McGrath

Finance Minister Michael McGrath said that so far over 7,000 businesses have registered for the Temporary Business Energy Support Scheme, which was announced in the Budget. The Temporary ...

Consumers feel some Christmas cheer as outlook steadies

Consumer sentiment improved in December to its best level for four months as cheaper fuel and an improved economic outlook brought some seasonal cheer to hard-pressed households, a ...

Remote workers account for 22.5% of those in work in Q3 – CSO

New figures from the Central Statistics Office show that people who usually worked from home accounted for 22.5% of people in employment in the third quarter of 2022, ...

ESRI identifies pros and cons of universal basic income

The possible future introduction of a universal basic income (UBI) would have both positive impacts and drawbacks, according to a new study from the Economic and Social Research ...

Energy price hikes drive customers to switch providers

New figures from the Commission for Regulation of Utilities (CRU) show that wholesale gas prices increased by 380% in 2021, while wholesale electricity prices jumped by 260% compared ...

Gas demand in November up 13% on a monthly basis

New figures from Gas Networks Ireland shows that colder temperatures in November compared to October saw a 13% increase in gas demand last month. But as November was ...

ECB will hike interest rates further – De Guindos

The European Central Bank will hike interest rates further in the euro zone to combat high inflation, ECB’s Vice-President Luis de Guindos said today. “There will be more ...

EU countries make final push for gas price cap deal this year

European Union countries’ energy ministers meet in Brussels today to attempt to agree a cap on gas prices – their latest idea to tame Europe’s energy crisis but ...

Plans to simplify work and immigration permit process

The Government has announced plans for a single application procedure for employment permits and immigration permissions. Currently to work in Ireland, a person from outside the European Economic ...

Christmas party warnings for staff and employers

After an absence of more than two years, work Christmas parties are back with a bang. Staff and employers are being reminded that workplace policies and procedures still ...

ECB increases interest rates by 0.5%, signals more hikes to come

The European Central Bank raised interest rates for the fourth time in a row today, although by less than at its last two meetings. It also pledged further ...

European car sales jump 17.4% in November

European new car registrations increased sharply in November, data from the region’s carmaker association showed today. The number of new vehicles registered in the European Union, Britain and ...

Corporation tax rate for larger firms here expected to rise to 15% in 2024, Donohoe says

The Minister for Finance has said he expects Ireland’s corporation tax rate will be increased to 15% in 2024 for large companies that are subject to last year’s ...

ESRI expects economy to grow at ‘significantly reduced pace’ in 2023

The Economic and Social Research Institute expects the economy to grow “at a significantly reduced pace” next year given the likelihood of recession in overseas markets and continuing ...

Ryan: No significant reduction in energy costs in next year or two

The Minister for Environment has said he did not expect to see a significant reduction in energy prices in the next year or two, despite a dip in ...

15% tax rate can proceed after Hungary drops opposition

Hungary has dropped its opposition to the introduction of a global minimum corporation tax rate of 15% as part of a wider deal with the EU allowing implementation ...

Fuel prices ease by around 10% in December – AA

A survey from the AA shows that the average price of fuel dropped by an average of about 10% in December. The average price of a litre of ...

EU agrees to tougher draft gig labour rules

EU lawmakers have agreed to tougher draft gig labour rules ahead of negotiations with EU countries to thrash out details, drawing dismay from a lobby group whose members ...

Contactless payments hit new high, cheque volumes drop

€4.8 billion worth of contactless payments were made in the third quarter of this year, the highest ever recorded. New figures from Banking and Payments Federation Ireland show ...

Number of people working for multinationals hits highest ever level – IDA Ireland

32,426 new jobs were created by multinational companies with operations in Ireland over the past year, despite difficult economic conditions globally – the highest level of annual growth ...

Construction activity slows for second month in a row

Activity in the construction sector here continued to slow down last month, the second consecutive month a decrease was recorded. The latest fall in the BNP Paribas Real ...

29% increase in insolvencies this year – Deloitte

New figures show a 29% increase in insolvencies so far this year with corporate insolvencies expected to exceed pre-pandemic levels over the next two years. More than 500 ...

Cost of energy biggest cause of worry for public

The cost of energy is the biggest cause of worry among the public, followed closely by the broader cost of living, a new survey by employers’ organisation Ibec ...

Annual rate of inflation eases to 8.9% in November

The annual rate of inflation, as measured by the Consumer Price Index, moderated to 8.9% in November, new figures from the Central Statistics Office show today. This compares ...

Wage growth tracker shows first slowdown in over a year

Wage growth in November slowed across economies in Europe, the UK and the US, according to the Indeed Wage Tracker published by the online jobs site Indeed.com. Its ...

48% of Ireland’s electricity provided by wind in November

New figures show that wind energy provided 48% of the country’s electricity in November, which means it was the biggest source of electricity in Ireland last month. Wind ...

Pension auto-enrolment should include young, self-employed – ICTU

The Irish Congress of Trade Unions (ICTU) is expected to tell the Oireachtas Committee on Social Protection today that the Government’s new auto-enrolment pension scheme should include young ...

Households’ savings rate eases to 19% in Q3 – CSO

The rate of household savings fell in the third quarter of this year to 19% of disposable income, according to data published by the Central Statistics Office today. ...

Govt business energy support scheme open for claims

Businesses that are seeking assistance with meeting the cost of rising energy bills can now submit claims under the Government’s support scheme. Revenue has said eligible firms which ...

96% of consumers worried about current cost of living – CSO

A new survey from the Central Statistics Office shows that 96% of respondents are concerned about the current cost of living, with 56% being very concerned. The CSO’s ...

Euro zone likely heading into mild recession – PMI

Euro zone business activity declined for a fifth month in November, suggesting the economy was sliding into a mild recession as consumers cut spending amid surging inflation, a ...

ECB needs more rate hikes but inflation close to peak, says Lane

The European Central Bank will have to raise interest rates several more times to tame price pressures, even if headline inflation is now close to its peak, ECB ...

Record level of corporation tax collected in November

A record €5 billion in corporation tax was collected in November, according to the latest Exchequer returns, the biggest monthly figure ever. The tax take, underpinned by a ...

Most consumers to use savings to fund Christmas spend

Consumers are set to spend more this Christmas but plan to be less reliant on debt, according to research by the Competition and Consumer Protection Commission. Consumers are ...

Economy grew by 2.3% in Q3 – CSO

The economy grew by 2.3% from July to September of this year when measured by Gross Domestic Product. However, activity in the domestic economy measured by Modified Domestic ...

One in 4 consumers switch insurance providers – Central Bank

Eight out of 10 car and home insurance consumers engage with their provider on renewal and one in four switch, according to research conducted by the Central Bank ...

Growing chance of global growth falling below 2% – IMF chief

IMF chief Kristalina Georgieva has warned that the chance of global growth dropping below 2% – last seen during the coronavirus outbreak and the global financial crisis of ...

Euro zone factory downturn eased in November

The downturn in manufacturing activity across the euro zone eased in November, according to a survey which suggests while the bloc’s factories still face a harsh winter it ...

Euro zone inflation falls for first time in 17 months, bolstering hopes for smaller ECB hike

The annual rate of inflation across the euro area eased back to 10% in November, according to an initial ‘flash’ estimate from the EU’s statistical agency Eurostat. This ...

Firms to start reporting on gender pay gaps from today

Companies across Ireland will start to publish information on their gender pay gaps from today. Firms of all sizes are being mandated to produce a report outlining the ...

New tipping laws come into force today

New laws governing the practice of tipping come into force from today, providing a boost to workers’ rights. Under the Payment of Wages Act employees now have a ...

Paid sick leave entitlement on track for New Year

An entitlement to paid sick leave is scheduled to come into effect in the New Year after the Tánaiste, Leo Varadkar signed the commencement order. From January, workers ...

Average weekly earnings up 3.2% to €864 – CSO

New figures from the Central Statistics Office show that average weekly earnings were €864.32 in third quarter of this year, up 3.2% on the same period last year. ...

Euro zone economic sentiment rebounds in November

Euro zone economic sentiment rebounded in November slightly more than expected, data showed today, rising for the first time since the Russian invasion of Ukraine in February on ...

ECB’s Lagarde says we haven’t reached inflation peak

Euro zone inflation has not peaked and the risk is that it will turn out even higher than currently expected, European Central Bank President Christine Lagarde said today. ...

New rights for consumers on faulty goods and services

New laws covering consumer rights around faulty goods and services, digital products and sale pricing take effect from today. The Consumer Rights Act introduces stronger rights of redress ...

Annual retail sales down for sixth month in a row – CSO

New Central Statistics Office figures show that the volume of retail sales rose by 0.7% in October but fell 2.6% on the same month last year. This marked ...

Euro zone credit growth remains brisk despite gloomy outlook

Bank lending to euro zone companies held steady, maintaining the sector’s biggest borrowing binge in over a decade, despite rising interest rates and a looming recession, European Central ...

More small firms to be offered export help through LEOs

An extension by the Government of the mandate of Local Enterprise Offices (LEOs) will mean that thousands more small businesses here will be eligible for export grants. Under ...

Christmas spend set to match last year – Retail Ireland

Irish households are expected to spend the same amount of money this Christmas as they did last, as the impact of the higher cost of living reins in ...

ECB will increase rates again in December – Makhlouf

The Governor of the Central Bank has said the European Central Bank will increase interest rates at its meeting next month but he had “an open mind” on ...

Busy day expected as Black Friday sales get under way

Originally an American construct, Black Friday was ideal for retailers and consumers in the United States to kick off the busy Christmas shopping period. In Ireland, where Christmas ...

Firms can register for energy support scheme tomorrow

The Temporary Business Energy Support Scheme (TBESS), which will assist businesses with their energy costs during the winter months, will open for registrations tomorrow – Saturday 26 November. ...

Govt’s budget strategy strikes ‘appropriate balance’ – IFAC

The Irish Fiscal Advisory Council has said the Government’s budgetary strategy struck the “appropriate balance between protecting vulnerable households and avoiding inflation”. In its Fiscal Assessment Report published ...

Growth in mortgage approvals driven by sharp increase in switching activity

The number of first time buyers being approved for a mortgage has dropped to its lowest level since 2019, new figures from Banking and Payments Federation Ireland show. ...

Over €93 billion in tax generated by Govt in 2021, up 21% on 2020 revenue

Total tax revenue collected by the Exchequer in 2021 was €93.3 billion, according to the Central Statistics Office. This was €15.9 billion more or 21% higher than in ...

Wholesale electricity prices down 52% in October – CSO

Wholesale electricity prices fell sharply last month and are back to levels not seen since August of last year, according to the latest Wholesale Price Index from the ...

Government hosts major tech sector conference in Dublin

The Government will host a major conference in Dublin focusing on Ireland’s technology sector. The Digital Ireland Conference will hear from speakers including the Taoiseach, Tánaiste and Government ...

Investments looking ‘slightly weaker’ next year – IDA

IDA Ireland is expected to tell the Oireachtas Committee on Enterprise, Trade and Employment that it has sight of a healthy pipeline of investments for the first half ...

Housing starts slow by 31% in October from last year

The number of new housing starts continued to slow last month, according to new figures from the Department of Housing. Commencement notices show 1,841 units began construction in ...

ESB to increase charges for use of public electric car charging network by up to 52%

The ESB is increasing charges for the use of its public electric vehicle charging points by up to 52%. The changes will take place from December 20th. It ...

Windfall tax on electricity companies set for Cabinet sign off today

The Government is expected to agree to cap the revenues of electricity generating companies which do not use gas. The Cabinet is also set to sign off on ...

Lower-income households experiencing greater inflation

Inflation continues to be greater for households on lower incomes, rural households and those headed by people over 65. This is largely because these households spend a greater ...

Gardaí warn shoppers to beware of Black Friday scams

The call comes as it is predicted as much as €26 million will be spent on shopping in upcoming Black Friday sales. New figures also show more than ...

Energy costs the main challenge for manufacturing

There has been a marked deterioration in the outlook for the manufacturing sector over the coming months, a major survey of industry leaders conducted on behalf of Ibec ...

Revenue warns of potential extra costs when buying goods online

Revenue has warned shoppers to check whether the advertised price of online goods includes all tax and duty costs due before deciding to buy. It said where the ...

Euro zone inflation revised marginally lower, but still at record high

Eurostat confirmed that inflation in the euro zone rose by 1.5% on a monthly basis to give a 10.6% annual increase This marked a revision from the 10.7% ...

Wind was biggest single electricity source in October

High winds for weeks meant 45% of the country’s electricity last month came from wind, setting a new record. This meant wind was the biggest single contributor to ...

European car sales grow in October – ACEA

European new car registrations jumped in October, data from the region’s carmaker association showed today. The number of new vehicles registered in the European Union, Britain and the ...

Property price growth slows to 10.8% in September – CSO

New figures from the Central Statistics Office show that annual property price growth slowed to a 14-month low in September. The CSO said that residential property prices eased ...

Toll charges rising to ‘maximum level’ from January

Toll charges on most toll roads around the country are to increase to their “maximum level” from 1 January 2023. The price hikes are linked to the current ...

Battery storage could cut electricity bills by €35m this winter

Operators of battery storage power plants say they could cut up to €35m off energy bills on the island of Ireland this winter if they were allowed to ...

Business growth slows amid rising costs

While businesses are still expanding, new data from Intertrade Ireland shows that the pace of growth is slowing as companies feel the pressure of rising prices. The latest ...

Govt to keep cost-of-living payments under review – McGrath

The Government will keep the payments to help people deal with the escalating cost of living under review, Minister for Public Expenditure Michael McGrath has said. “We will ...

Grocery inflation hits new high of 13.4% – Kantar

Grocery inflation rose to another record-breaking high of 13.4% in the last 12 weeks to October 30, new figures from Kantar show today. Kantar said that grocery sales ...

40% of consumers plan to make Black Friday purchase

Just under 40% of consumers plan to make a purchase in the Black Friday sales, according to new research from the Competition and Consumer Protection Commission. On average, ...

Profits at motor insurers rose to record €176m in 2021

Motor insurers here saw their combined operating profits increase to a record level for the fifth straight year in a row last year, as lower levels of activity ...

Falling foul of price hikes – turkeys set to cost more this Christmas

Consumers are being advised that they will have to pay more for a turkey this year for Christmas. Farmer and journalist Hannah Quinn-Mulligan said an average 13lb (6kg) ...

Tourism businesses called on to drive climate action

The Minister for Tourism will call on businesses in the sector to engage with sustainability targets for the sector, as it seeks to cut emissions as part of ...

90% of insurance reform actions done or ongoing – Govt

The Government will outline progress made on insurance reform later today, when it publishes its third Insurance Reform Implementation Report. It states that around 90% of actions in ...

ISME launches new Shop and Support Local campaign

ISME has today launched its 2022 Shop Local campaign calling on shoppers and businesses to “Think, Spend and Support Local”. The campaign has been developed to promote products ...

EU agrees law to remove CO2 with woodlands, other carbon sinks

The European Union has agreed to a law to expand its forests, marshes and other “sinks” that absorb carbon dioxide (CO2), a measure that could allow the bloc ...

Annual rate of inflation up to 9.2% in October

The annual rate of inflation rose to 9.2% in October, new figures from the Central Statistics Office show today. This compares to an annual rate of 8.2% in ...

Commission proposes changes to EU’s debt rules

The European Commission has proposed changes to the EU’s onerous debt rules that would allow member states to negotiate their own debt reduction path, using the carrot of ...

Insurance policies could be impacted by exit of banks, Insurance Ireland warns

Insurers have urged customers of Ulster Bank and KBC Bank Ireland to be aware of the risks for their insurance and pension policies posed by the departure of ...

Personal loan drawdowns jump 12%, BPFI report reveals

Just over 47,000 personal loans were drawn down in the third quarter of this year, up over 12% in volume and 11% in value when compared to the ...

ECB to continue raising rates even as economy suffers

The European Central Bank will continue to raise borrowing costs even as the euro zone economy suffers because letting inflation stay high would be even more painful, two ...

Overseas tourism to Ireland expected to reach 75% of 2019 figure

International travel has recovered quickly from the worldwide Covid-19 pandemic lockdowns, with overseas tourism to Ireland this year expected to reach 75% of the 2019 figures – a ...

Wages rise at over three times their pre-pandemic rate, study finds

Wages are going up at more than three times their pre-pandemic rate across euro area countries, according to a new study published by the Central Bank. However, the ...

Euro, sterling jump, dollar falters as market shifts to risk assets

Euro and sterling rose against the safe-haven US dollar today, supported by a risk-on sentiment across markets with European stocks rising on persistent hopes China will ease Covid ...

Agri-food exports hit €15.4 billion last year

Irish agri-food exports were worth €15.4 billion in 2021, an increase of 51% since 2012, new figures show today. Irish produce was exported to more than 180 countries ...

‘Positive response’ to second Eurogroup term – Donohoe

Minister for Finance Paschal Donohoe has said eurozone finance ministers have agreed that an election to appoint the president of the Eurogroup will take place on 5 December ...

Euro zone downturn deepens, points to winter recession

The downturn in the euro zone economy has deepened as high inflation and fears of an intensifying energy crisis hit demand, adding to evidence the bloc is heading ...

Europe could face gas shortage next year – IEA

Europe must act immediately to prevent a shortage of natural gas next year as Russia slashes deliveries in the wake of the Ukraine war, the International Energy Agency ...

Exporters keep anxious eye on sterling movements

Some economists and bankers are warning that the US economy and the global economy will enter recession by the middle of 2023. The Central Bank and employers body ...

October unemployment rate steady at 4.4% – CSO

The unemployment rate stood at 4.4% in October, unchanged for the third month in a row after the August and September figures were both revised up from 4.3%, ...

Ibec downgrades growth forecasts for 2023

Business group Ibec has downgraded its forecast for domestic demand due to rising costs and a weaker outlook for the global economy. In its latest Quarterly Economic Outlook, ...

64% of householders make at least one energy efficiency improvement

New research from Banking & Payments Federation Ireland reveals that 64% of consumers have carried out at least one significant energy efficiency home improvement as energy costs continue ...

High corporation tax levels may not be sustained – McGrath

Minister for Public Expenditure Michael McGrath said the Government is “avoiding making permanent expenditure commitments” on the back of receipts that may “prove to be temporary”. The Minister’s ...

Irish households added €32bn to their wealth last year

Irish households added €32 billion to their wealth last year, according to the Central Statistics Office. That is almost the same amount added to household wealth between 2017 ...

Major conference to focus on opportunities and challenges facing financial system

The Central Bank of Ireland is hosting a major conference this week to discuss and debate the driving forces shaping the financial system. Over 300 consumer representatives, industry ...

1 in 8 switchers yet to decide on new banking provider – CCPC

One in eight consumers who are in the position of having to switch banking providers, because of the impending departure of Ulster Bank and KBC, have yet to ...

New tipping law to come into effect on 1 December

The Government has announced that a new law designed to protect tips received by workers will come into effect on 1 December. The Payment of Wages Act gives ...

Business sentiment fell sharply in October – survey

Business sentiment fell to a near-two year low in October, according to Bank of Ireland’s latest economic pulse survey. The business reading stood at 64.2 in the month, ...

Average mortgage in Q3 surpassed peak of market in Q1 2008

The average mortgage stood at €284,623 in the third quarter of the year, surpassing levels seen during the peak of the market in 2008 when it was €268,220. ...

Banks to write to tracker customers following ECB rate hike

The main retail banks have said they will be writing to their tracker mortgage customers to inform them of their new interest rates, following today’s rate hike by ...

Euro falls against the dollar after ECB rate hike

The euro briefly fell back below parity with the dollar today after the European Central Bank (ECB) raised interest rates, and US data showed that the world’s biggest ...

Average rents rose 84% in nine years – ESRI study

The cost of average private rents jumped 84% in the nine years to last year, new research from the Economic and Social Research Institute has found. The study ...

Interest rates set to rise again – what does it mean?

The European Central Bank is on course to raise interest rates again today. We’ve been looking at why the bank has been raising rates and how far they’re ...

Housing starts down 31% in September

The number of residential units which have commenced construction fell last month, according to the latest figures from the Department of Housing. In September, the Department received commencement ...

ECB expected to increase interest rates by further 0.75%

The European Central Bank’s (ECB) governing council meets today in Frankfurt amid speculation it will announce another 0.75% increase in interest rates. The ECB has already increased rates ...

Applications open for Sport to Start-Up programme

Applications open today for the fourth round of the Sport to Start-Up programme. The online course aims to help full time Irish sports people start their own business ...

Goods handled by main Irish ports up 1% in Q2

New figures from the Central Statistics Office show that Irish ports handled a total of 13.1 million tonnes of goods in the second quarter of 2022, an increase ...

World is in its ‘first truly global energy crisis’ – IEA’s Birol

Tightening markets for liquefied natural gas (LNG) worldwide and major oil producers cutting supply have put the world in the middle of “the first truly global energy crisis”. ...

No plans to lift cap on bankers’ pay, says finance department

The Department of Finance has said Minister Paschal Donohoe recognises that restrictions on pay create recruitment and retention problems for banks, but that there are currently no plans ...

Cabinet to discuss longer opening hours for pubs and clubs

Plans to introduce longer opening hours for pubs and nightclubs will be discussed by the Cabinet this morning. Minister for Justice Helen McEntee is seeking Government approval to ...

Euro zone October PMI adds to evidence bloc is heading for recession

The euro zone is likely entering a recession with business activity contracting at the fastest pace in nearly two years this month as the cost-of-living crisis keeps consumers ...

Gas generated 55% of Ireland’s electricity in September

Gas demand fell by 11% in September from August, new figures show today. as temperatures were above average in most parts of the country. But Gas Network Ireland ...

Diesel nearly 20 cents more expensive than petrol – AA

Diesel is now at its second-highest monthly average price on record, the latest fuel price survey from AA Ireland shows. The AA said the average price for petrol ...

Food industry prices jump, but electricity costs down – CSO

The price of raw materials for the food industry rose last month, according to the latest Wholesale Price Index from the Central Statistics Office. However, the wholesale price ...

EU leaders agree to press ahead with gas price cap

EU leaders have agreed to press ahead with a cap on the wholesale cost of gas as a way to bring down electricity prices during talks in Brussels, ...

Euro zone’s current account deficit widens on soaring energy bill

The euro zone’s current account deficit widened in August as soaring energy costs pushed up the bloc’s import bill, data from the European Central Bank showed today. The ...

Most consumers make multiple spending cutbacks – Credit Union consumer sentiment survey

Consumer sentiment improved slightly in October as consumers took some comfort from Government measures introduced in its annual budget to support household spending, a new survey shows today. ...

Consumer sentiment up slightly after Budget measures

Consumer sentiment improved slightly in October as consumers took some comfort from Government measures introduced in its annual budget to support household spending, a new survey shows today. ...

Euro zone September inflation revised down slightly, but still at record high

Euro zone consumer inflation was marginally lower in September than estimated earlier, data showed today. But euro zone inflation still remained at a record high, underlining market expectations ...

Finance Bill to widen energy support scheme to include professionals

The Government is expected to confirm that its new support scheme aimed at assisting businesses with the rising cost of energy will be extended to include professional firms, ...

Central Bank set to ease mortgage lending rules

The Central Bank looks set to relax its mortgage lending rules when it publishes the outcome of a review of them later this morning. Currently, most house buyers ...

5% concrete levy to be introduced in September

The Government has agreed that the concrete levy announced in the Budget will be cut to 5% rather than the 10% announced in the Budget last month. It ...

Oil prices stable as economic fears offset supply woes

Oil prices were stable today as the market balanced cuts to OPEC+ production quotas against fears of economic slowdown and lower Chinese fuel demand. Brent crude futures eased ...

European car sales grow for second month in a row in September – ACEA

European new car registrations jumped in September, the second month in a row of growth after 13 months of consecutive decline, data from the region’s carmaker association showed. ...

Sterling jumps against dollar on UK U-turn

The dollar lost ground against sterling and other major peers today as investor sentiment picked up following the UK’s dramatic U-turn over the tax-slashing mini budget that had ...

Value of Irish exports and imports jump in August – CSO

The unadjusted exports of goods in August increased by €6.3 billion to €19.5 billion compared with August last year, today’s CSO figures show The unadjusted exports of goods ...

Economic co-operation between EU, US ‘at a new high’ – Donohoe

Minster for Finance Paschal Donohoe has said economic co-operation between Ireland, the European Union and the United States is at a new high point. Speaking in Washington DC ...

Sterling edges up on UK fiscal policy U-turn

Sterling inched cautiously higher following British Prime Minister Liz Truss’s partial reversal of her government’s economic plan. The pound gained 0.42% to stand at $1.1225, after Truss said ...

International Sustainable Finance Centre to be set-up

Ireland is to be the location for a new International Sustainable Finance Centre. The centre will act as an international hub from which the finance community based in ...

Inflation rate moderates to 8.2% in September – CSO

New Central Statistics Office figures show that the annual rate of inflation rose by 8.2% in September, down from an annual increase of 8.7% in August. The latest ...

Home price growth slows to 12.2% in August – CSO

Residential property prices increased by 12.2% in the year to the end of August according to the Central Statistics Office, down from 13.3% in the 12 months to ...

Oil inches up on weaker dollar, low US diesel stocks

Oil prices reversed earlier losses and inched up in Asian trade today, supported by a weaker US dollar and falling diesel inventories, while Saudi Arabia and Washington continued ...

UK economy on brink of recession as it shrinks in August

Britain’s economy looks set to go into recession as data showed it unexpectedly shrank in August, underscoring the challenge for Prime Minister Liz Truss to make good on ...

Irish mortgage rates steady in August – Central Bank

New figures from the Central Bank show the average interest rate on new Irish mortgages rose to 2.64% in August 2.63% in July. The equivalent euro area average ...

Years before Ireland has secure enough LNG storage – Ryan

It will be years before Ireland has enough secure liquid natural gas (LNG) storage, the Minister for the Environment has said. Eamon Ryan said Ireland needs storage as ...

Oil falls around 2% on recession, China Covid fears

Oil prices fell about 2% today, extending the previous session’s almost 2% decline, as recession fears and a flare-up in Covid-19 cases in China raised concerns over global ...

Sterling falls again as turmoil dogs the bond market

The pound fell for a fifth day today as the turmoil engulfing UK government bond markets forced the Bank of England to step in yet again to attempt ...

EU countries seek way out of impasse over gas price caps

The question of how, when and whether to cap gas prices is set to dominate another meeting of EU countries today, as they pursue a joint plan to ...

Oil steadies as supply tightness duels with recession fears

Oil prices steadied today, recovering from earlier losses, as investors weighed potentially tight supply against economic storm clouds that could foreshadow a global recession and erosion of fuel ...

Consumers urged to support local designers and makers amid cost-of-living squeeze

Consumers are being urged to consider buying Irish-made crafts and designs amid the ongoing cost-of-living squeeze, as spending in the wider economy retrenches. The Irish craft and design ...

Govt to outline dates for payments announced in Budget

The Government will today outline the payment dates for the €1.2 billion worth of lump sum social protection supports announced in last month’s Budget. Minister for Social Protection ...

Oil falls as investors take profit on China demand concerns

Oil prices fell today, snapping five days of gains, as investors took profits after a report on slowing economic activity in China, the world’s biggest crude importer, re-ignited ...

Reducing gas prices dominating European summit

Taoiseach Micheál Martin has said Europe will develop a coordinated approach to the energy crisis, but it will take time. Mr Martin has joined other EU leaders at ...

‘Historic milestone’ as new auto-enrolment pension scheme approved

The Government has approved details of the new pension auto-enrolment scheme ahead of its expected introduction in 2024. Workers will be automatically signed up to a pension plan ...

Sterling softens after UK PM Truss speech

Britain’s pound weakened against the dollar today, ending a six-day rally but avoiding recent lows as British Prime Minister Liz Truss sought to overcome a chaotic first month ...

Residential property market may be overvalued by 7%, ESRI warns

The Economic and Social Research Institute (ESRI) has warned that the residential property market in Ireland may be overvalued by over 7%. In its latest Quarterly Economic Commentary, ...

Gap between electricity demand and supply likely to get worse – EirGrid

The electricity system will face a shortfall of supply over demand for the next decade, according to grid operator EirGrid. Its annual Generation Capacity Statement, published today, describes ...

Cabinet signs off on plan for three €200 energy credits

The Cabinet has approved a plan to pay three electricity credits to every household over the next six months. It is expected that the €200 credits will be ...

Overall tax revenue to end of September just under €58bn

Overall tax revenue for the first nine months of the year came in at just shy of €58 billion, the latest Exchequer Returns from the Department of Finance ...

Lower growth next year but no recession – Central Bank

The Central Bank has reduced its forecasts for growth in the domestic economy next year and raised its outlook for inflation. However, its latest Quarterly Bulletin says the ...

Updated finance strategy sets target of 5,000 new jobs

The Government has set a target of growing the level of employment in the international financial services sector by 5,000 net by 2026. The target is contained in ...

IMF to consider emergency funding for Ukraine

The International Monetary Fund’s executive board will consider Ukraine’s request for $1.3 billion in additional emergency funding on Friday as Russia’s war against the country continues, two sources ...

Govt to discuss how €200 energy credits will be paid

The Cabinet is to discuss how the energy assistance measures in Budget 2023 will be implemented. Minister for the Environment, Climate and Communications Eamon Ryan will bring a ...

Coining it: What currency shifts mean for Ireland

The euro has been drifting against the dollar for some time now, but has been getting stronger against sterling for months. But what this means for consumers – ...

Euro falls after inflation data but heads for weekly gain

The euro dropped today after inflation in the euro zone hit a record high, but was heading for a weekly gain on hawkish signals from the European Central ...

UK government in U-turn on 45% tax rate

British Prime Minister Liz Truss and Chancellor Kwasi Kwarteng have, in a dramatic U-turn, abandoned a plan to abolish the top rate of income tax for the highest ...

Covid-19 higher rate illness benefit ends

A higher rate of illness benefit for people who miss work due to Covid-19 comes to an end today. The Enhanced Illness Benefit (EIB), paid at €350 per ...

Euro zone inflation hits record high of 10%, raising pressure on ECB

Euro zone inflation zoomed past forecasts to hit a fresh record high this month, reinforcing expectations for another jumbo interest rate hike from the European Central Bank in ...

Once-off Budget measures will insulate ‘most households’ – ESRI

The package of once-off measures announced as part of this week’s Budget will insulate “most households” from higher energy prices this winter, according to the ESRI. The analysis, ...

Tánaiste to discuss recommendations on pay, conditions at gender equality committee

Tánaiste Leo Varadkar is to appear before the Oireachtas Committee on Gender Equality today to discuss the recommendations of the Citizens’ Assembly on Gender Equality regarding pay and ...

Stocks bounce but sterling slippery after BoE buys bonds

Asian share markets rose today after Britain’s central bank launched an emergency bond buying programme to stabilise a furious sell-off in gilts, though trade was skittish and sterling ...

Switching activity drives growth in mortgage approvals

Just over 5,500 mortgages were approved in August, up 5.5% on the previous month and 21.3% compared with the same period last year. New figures from Banking and ...

Budget’s political test will be when big winter bills arrive

It was, according to the Minister for Public Expenditure, Michael McGrath, a “budget for its times”. The biggest ever giveaway, in pure monetary terms, was necessitated by the ...

Tánaiste ‘does not envisage’ mini-budget next year

Tánaiste Leo Varadkar has said he does not envisage a mini-budget being implemented next year. Speaking on RTÉ’s Morning Ireland, Mr Varadkar said Budget 2023 is being front-loaded ...

At a glance: Here are the key points from Budget 2023

The Government has pledged to spend billions – but how much of all this extra monetary support will make it into your pocket? With winter looming amid an ...

€11bn Budget announced due to ‘exceptionally challenging times’

Minister for Public Expenditure Michael McGrath said he is making €100 million available in 2022 to ensure schools are supported in dealing with energy cost pressures and transport ...

Two new schemes set to help businesses with energy costs

The Government looks set to unveil two new schemes worth over a billion euro to assist businesses with rising energy costs in tomorrow’s budget. It is understood that ...

Falling pound pauses as investors await policy response

Sterling steadied this morning but was perched above its record low only thanks to soaring yields on British debt and the hope of a response from policymakers or ...

Budget: Spending, tax measures worth nearly €11bn expected

The formal announcement of Budget 2023 will be made in the Dáil this afternoon. Minister for Finance Paschal Donohoe is due to begin his speech in the chamber ...

Sterling collapses as investors move into dollars

Sterling tumbled to a record low this morning as traders scampered for the exits on speculation the new government’s economic plan will stretch Britain’s finances to the limit. ...

Economic sentiment down in September amid energy woes

A new survey shows that with households facing the prospect of even higher gas and electricity bills over the coming months, consumer confidence sank to an all-time low ...

High stakes Budget to tackle inflation being finalised

Budget discussions continued into the early hours of this morning as the coalition leaders and the Ministers for Finance and Public Expenditure met to finalise measures ahead of ...

Oil prices edge down, recession fears back in focus

Oil prices fell today amid recession fears and a stronger US dollar, though losses were capped by supply concerns after Moscow’s new mobilisation campaign in its war with ...