US to cut ‘de minimis’ tariff on China shipments to 54% from 120%
The US is to cut the low value “de minimis” tariff on China shipments to 54% from 120%, with a flat fee of $100 to remain, starting from ...
New EVs licensed in April rose by 23% on last year – CSO
New figures from the Central Statistics Office show that the number of new electric vehicles licensed in April increased by 23% on the same time last year – ...
Geopolitics the top concern for international banks here
Nearly eight in ten international banks in Ireland say global political tensions could hit their business in the next five years. That’s according to a new report by ...
Donohoe to attend Eurogroup and ECOFIN meetings this week
The Minister for Finance and President of the Eurogroup Paschal Donohoe is in Brussels this week to chair the Eurogroup meeting today and attend the Economic and Financial ...
ECB should keep steady hand, hold rates close to current levels, Schnabel says
The European Central Bank should stop cutting borrowing costs as turmoil in the global economy is fuelling price pressures and inflation was at risk of exceeding the bank’s ...
Oil prices jump over 3% on US-China tariff reductions
Oil prices rose more than $2 today after the US and China said they would ease some of their tariff measures, lifting market sentiment that the world’s two ...
Annual inflation rate rises to 2.2% in April – CSO
New figures from the Central Statistics Office show that annual consumer prices rose to 2.2% in April from 2% a month earlier. The CSO said this marks the ...
China’s exports top forecasts helped by foreign rush to beat tariffs
China’s exports topped forecasts in April, buoyed by demand for materials from overseas manufacturers who rushed out goods to make the most of US President Donald Trump’s 90-day ...
Senior civil servants to highlight concerns over AI
Senior civil servants are to highlight concerns over the use of artificial intelligence in the public service at the annual conference of the Association of Higher Civil and ...
Taoiseach to discuss EU response to US tariffs with von der Leyen
Taoiseach Micheál Martin will meet the President of the European Commission Ursula von der Leyen in Brussels this morning. His visit coincides with the EU publishing its proposed ...
Faster housing delivery could mitigate impact of tariffs
Faster housing delivery could mitigate the impact of tariffs, according to the latest report from Davy. Updated forecasts from the Department of Finance show that economic growth will ...
Government publishes new AI guidelines for public service
The Government has published new guidelines for the responsible use of artificial intelligence (AI) in the public service. The framework advises against the use of free generative AI ...
Tax take to end of April up 15% on same time last year
Tax receipts for the first four months of the year are up 15.3% on the same time last year, the latest Exchequer Returns from the Department of Finance ...
US, Chinese officials to hold trade talks in Switzerland
Senior US and Chinese officials will travel to Switzerland later this week to kickstart stalled trade talks following US President Donald Trump’s sweeping tariff rollout, according to statements ...
Motor insurance costs rose by 9% in first half of last year
The average cost of a motor insurance policy increased by 9% (€49) during the first half of last year, when compared with the first six months in 2023. ...
Services sector growth slows in April amid trade concerns, PMI shows
Growth in the country’s services sector slowed in April to its lowest level in over a year as international trade tensions weighed on business sentiment, a survey shows ...
Enterprise Minister to urge agencies to cut red tape for SMEs
Minister for Enterprise Peter Burke is to meet with the heads of 19 agencies and offices under his remit to instruct them to reflect on their processes and ...
Department of Finance’s economic forecasts to take US tariffs into account
The Department of Finance will publish economic forecasts for Ireland to take account of tariffs imposed by the Trump administration in the United States. The document will be ...
China mulls US trade talks offer, warns not to engage in tariff ‘extortion’
Beijing is “evaluating” an offer from Washington to hold talks over US President Donald Trump’s 145% tariffs, China’s Commerce Ministry has said, although it warned the United States ...
New electric car registrations up 25.5% so far this year – SIMI
New figures from the Society of the Irish Motor Industry show that new car registrations rose by 1.9% in April, while registration of battery electric cars jumped by ...
Small and medium firms investing less post pandemic, ESRI report shows
The scarring effects of the pandemic has resulted in small and medium firms investing less in their businesses, according to the Economic and Social Research Institute. It found ...
Higher food prices push inflation up to 2% in April – CSO
Inflation rose by 2% in the 12 month period to April of this year, driven mainly driven by higher food prices. The latest figures show a marginal increase ...
Euro zone grows quicker than forecast before large trade war hit
The euro zone economy grew faster than expected in the first quarter, starting 2025 on a modestly upbeat note before a trade war with the US, a surging ...
Manufacturing growth strongest in April since mid-2022, PMI shows
Growth in the country’s manufacturing sector accelerated in April thanks to a robust expansion in new orders amid signs of stock building due to tariff uncertainty, a survey ...
Early CSO estimates show GDP growth of 3.2% in Q1
Preliminary figures for Gross Domestic Product, a measure of the economy which includes the contribution from multinationals, shows an increase of 3.2% in the first three months of ...
Government confirms delay of pension auto-enrolment
The Government has confirmed that the start date for pension auto-enrolment is to be delayed from 30 September 2025 to 1 January 2026. Minister for Social Protection Dara ...
Low supply among issues driving price of farmland – SCSI
Low supply, increasing demand from dairy farmers and issues around succession were the main factors driving up the price of agricultural land last year, according to a report. ...
Cabinet to consider memo on new Housing Activation Office
A memo to establish a new Strategic Housing Activation Office will go to the Cabinet this morning. However, the anticipated appointment of NAMA boss Brendan McDonagh to head ...
Most Irish consumers trust cards over other payment methods
73% of Irish consumers trust cards over all other payment methods, new data shows. The research carried out by Payments Europe reveals that 55% of consumers believe cards ...
Still gradual margin for rate cuts – ECB’s Villeroy
US President Donald Trump’s tariff threats are creating uncertainty for economies around the world but there is still margin for further interest rate cuts in Europe as inflation ...
Number of uninsured drivers on roads drops
The percentage of uninsured private vehicles on Irish roads has almost halved following the introduction of the new Irish Motor Insurance Database (IMID) system, which is aimed at ...
EU will ‘leave no stone unturned’ to reduce trade uncertainty – Donohoe
The European Union will do all it can to engage with the United States on trade and reduce the massive uncertainty that is weighing down the global economy, ...
IMF-World Bank meetings end with little tariff clarity, but economic foreboding
Global finance leaders came to Washington last week seeking clarity on what it would take to get some relief from President Donald Trump’s multi-layered tariff assault and on ...
China considers exempting some goods from US tariffs
China is considering exempting some US imports from its 125% tariffs and is asking businesses to identify goods that could be eligible in the biggest sign yet that ...
Home completions up 2% in first quarter of 2025 – CSO
There was a 2% increase in the number of completions in the first three months of this year in comparison to the same time last year, according to ...
Consumers expect weaker economy over next five years
Consumers in the Republic of Ireland and Northern Ireland expect a weaker economy, less favourable job prospects, and higher inflation over the next five years, a new survey ...
Govt missed 2024 target on new build social homes
The Government missed its target on new build social homes last year, with a shortfall of more than 1,400. Minister for Housing James Browne said he expects each ...
IMF says tariff pressures to push public debt past Covid levels
Economic pressures from steep new US tariffs will push global public debt above pandemic-era levels to nearly 100% of global GDP by the end of the decade as ...
Economic worries could weigh on airline results as European bookings drop
European airlines are set to report first-quarter results in the coming weeks, offering outlooks for the lucrative travel season amidst growing worries that economic uncertainty could slow demand ...
ECB survey sees inflation stabilising at 2%
Euro zone inflation could be a touch higher this year than earlier thought but will then stabilise at the European Central Bank’s 2% target, the bank’s Survey of ...
IMF says tariffs will hit economic growth, and increase risk of banking crisis
The International Monetary Fund has sharply cut its growth forecasts for this year because of the disruption caused by the tariffs on imports introduced by the US. It ...
Wind farms provided 38% of Ireland’s electricity in first quarter
Wind farms provided 38% of the country’s electricity in first three months of 2025, according to a report by Wind Energy Ireland. Kerry wind farms led the way ...
Gold maintains record rally as Trump’s attacks on Fed chief rattle traders
Gold prices soared to a record high, hitting the crucial $3,500 mark today, as concerns over US President Donald Trump’s criticism of Federal Reserve Chair Jerome Powell dampened ...
Rise in electricity costs amid move from fossil fuels, report suggests
Ireland faces the threat of higher electricity prices as it transitions away from fossil fuels to renewables, a new report by the National Economic and Social Council has ...
EU says it will enforce digital rules irrespective of CEO and location
The European Union is determined to enforce its full digital rule book no matter who is in charge of companies such as X, Meta, Apple and Tiktok or ...
Annual euro zone inflation eases 2.2% in March
New figures from Eurostat, the statistical office of the European Union, show that euro area annual inflation fell to 2.2% in March from 2.3% in February. Euro zone ...
Annual house price growth slows to 8% in February – CSO
Residential property prices are up 8% in the 12 months to February 2025, according to the latest figures from the Central Statistics Office. It means the cost buying ...
European Central Bank expected to cut interest rates for seventh time in a year
The European Central Bank is widely expected to cut interest rates by one-quarter of a percentage point later today. The development follows the latest inflation figures, for countries ...
Government urged not to overly delay pension auto-enrolment
The Government is being urged not to defer the deadline for auto-enrolment of workers into pension schemes beyond early 2026. The deadline is set to be pushed by ...
Pharmaceutical exports jump by 146% in February – CSO
Preliminary figures from the Central Statistics Office show that exports of medical and pharmaceutical products jumped by €9.2 billion, or 145.7%, to €15.6 billion in February on the ...
Gas use increases in March as weather shifts and wind energy output falls
Overall gas demand in March rose by 13% compared to February, and by 4% compared to the same month last year, new figures from Gas Networks Ireland show ...
Stronger economic growth in ROI compared to NI – study
The Republic of Ireland has higher wages, stronger economic growth and better living standards than Northern Ireland, according to a new study by the Economic and Social Research ...
Oil edges up on potential US tariff exemptions on cars
Oil prices inched higher today, supported by new tariff exemptions floated by US President Donald Trump and a rebound in China crude oil imports in anticipation of tighter ...
Calls for investigation into axed golden visa scheme
A golden visa scheme giving residency in Ireland and access to Europe has generated €500 million since it was axed by the Government two years ago. However the ...
EU should ‘be careful’ in tariff talks with US – Chambers
Minister for Public Expenditure Jack Chambers has said that the European Union needs “to be careful about what we put on the table” in tariff negotiations with the ...
US exempts smartphones, computers from global tariffs
The US government has granted tariff exclusions for smartphones, computers and other electronics imported largely from China, sparing them from President Donald Trump’s steep 125% reciprocal duties. In ...
Hybrid work critical for workplace wellness, survey finds
New research from Ibec shows that flexible or hybrid working arrangements remain a critical factor for employee workplace wellness. The survey of more than 1,000 people found that ...
Annual inflation rises to 2% in March – CSO
New figures from the Central Statistics Office show that the country’s inflation rate rose to 2% on an annual basis in March compared to 1.8% a month earlier. ...
Oil prices set to drop for a second week over US-China trade war concerns
Oil prices rose today after settling more than $2 a barrel lower in the previous session, but were set to drop for a second week in a row ...
First time buyers struggling to save a deposit – PTSB research
A new survey of homeowners, renters and prospective buyers reveals a big jump in younger age groups saying they are considering applying for social housing in response to ...
Tariff supports have to be ‘sustainable’ – Taoiseach
Taoiseach Micheál Martin has said any supports to help businesses affected by US tariffs needs to be “financially sustainable” in the medium and long-term. He was responding to ...
Stocks tumble again as US hits China with 104% tariffs
European and Asian stocks extended a slide on Wall Street this morning as President Donald Trump pressed ahead with whopping 104% tariffs on Chinese goods, pummelling oil prices ...
Oil falls to lowest since February 2021 as Trump’s tariffs take effect
Oil prices fell for a fifth day to their lowest since February 2021 today on looming demand concerns fuelled by an escalating tariff war between the US and ...
Grocery sales in Ireland increase by 3.4% in March
New figures today show that take-home grocery sales in Ireland increased by 3.4% over the four weeks to March 23 compared to the same time last year. Kantar ...
Construction activity rises amid stronger new order growth – AIB PMI
Construction activity rose in March – the first increase in total activity in three months – amid stronger new order growth, the latest Purchasing Managers Index from AIB ...
Trade war threat to impact housing market this year – report
The threat of a trade war will influence how the housing market will perform this year, according to a new report by property website MyHome.ie, in association with ...
EU response to Trump tariffs could amount to €400bn
The total European Union response to US President Donald Trump’s tariffs could amount to duties on US goods worth €400 billion, RTÉ News understands. This would represent retaliation ...
World markets dive on trade war gloom
European markets plunged this morning as investors grappled with the possibility of a recession after sweeping tariffs announced by US last week. US President Donald Trump showed no ...
Oil tumbles further as US-China trade tensions fuel recession fears
Oil prices slid more than 3% today, extending last week’s losses, as escalating trade tensions between the US and China stoked fears of a recession that would reduce ...
Tax take to end of March up nearly 9% on same period last year
Tax receipts in the first three months of the year were up 8.9% on the same time last year. Figures from the Department of Finance show the tax ...
Tax waivers, grants could bring vacant properties into use, says group
Vacant properties and above-the-shop units could provide an answer to the housing crisis, according to the Hardware Association of Ireland. It estimates that there are at least 20,000 ...
Trump tariffs provoke condemnation as recession fears grow
Countries around the world have threatened to wage a trade war with the United States as President Donald Trump’s sweeping tariffs fed expectations for a global downturn and ...
Govt expects US measures on pharma sector, says Tánaiste
The Government’s “working assumption” is that there will be further US tariffs focused on pharmaceuticals, Tánaiste Simon Harris has said. The sector received an exemption from a sweeping ...
EU chief says new US tariffs are ‘major blow to world economy’
European Commission President Ursula von der Leyen has said that US President Trump’s universal tariffs are a major blow to the world economy, which she said will suffer ...
Services sector posts robust growth in March, PMI shows
The country’s services sector expanded at its fastest pace this year in March, driven by a sharp increase in new business and employment, according to a survey released ...
‘All options are on the table’ in US tariffs response – EU chief
European Commission President Ursula von der Leyen has warned “all options are on the table” in response to US President Donald Trump’s tariffs threats, saying while the EU ...
Unemployment edges up from record low to 4% in March – CSO
New figures from the Central Statistics Office show that the unemployment rate rose slightly to 4% in March from a record low of 3.9% a month earlier. The ...
Small rise in claims submitted to injuries board in 2024
The number of personal injuries claims submitted to the Injuries Resolution Board last year rose by 1% to 20,318 when compared with 2023 – but still remain well ...
Price of gold rises to near record high as US tariffs loom
The price of gold has been rising on global markets to near record highs. This time last year, gold prices on international markets were trading at below $2,000 ...
Low earners took on debt to cope with cost of living – ESRI
Most low-income households had to make high-risk changes to their finances to cope with the cost of living crisis, according to the latest ESRI research. Typical changes included ...
Irish household’s net wealth reaches €1.2 trillion
The net wealth of Irish households has reached €1.2 trillion, of which €812 billion is property wealth The new Goodbody Guide to Inheritance and Estate Planning, published today, ...
Minister to allocate €436m for social housing needs
Minister for Housing James Browne is to allocate €436m for social housing needs this year. This includes capital funding allocations of €325m to be used by local authorities ...
Driver number needed for new car insurance from today
The new legal requirement for motorists to provide their driver number when renewing or taking out motor insurance is in effect. It is now an offence for any ...
Previous earnings to be linked to new jobseeker’s payment
A new jobseeker’s payment that is linked to a person’s previous earnings is due to begin. People who become unemployed, and who have at least five years’ paid ...
Donohoe ‘extremely concerned’ over potential impact of tariffs
The Minister for Finance has said he is “extremely concerned” about the potential impact of proposed United States tariffs on pharmaceutical exports, warning they could deliver a major ...
Average first time buyers and mover purchase values hit record levels – BPFI
New figures from Banking & Payments Federation Ireland show that first time buyer and mover purchase values reached their highest levels on record at €322,050 and €375,495 respectively ...
Average price of second-hand home in Dublin nears €600,000
A new property survey for the first quarter of this year shows that the average price of a resale property in Dublin stands at €593,936, an increase of ...
ESRI says ‘clear need’ for reform of rent controls
The Economic and Social Research Institute has said there is a “clear need” for reform of rent controls. In its Quarterly Economic Commentary, the ESRI said the existing ...
‘Ireland was very smart’ – Trump cites pharma tariffs
US President Donald Trump has said the US will be introducing tariffs on pharmaceuticals, specifically citing Ireland among the countries where many pharmaceutical products are made. Speaking in ...
Deadline for Irish workers to top up UK pension looms
Thousands of Irish people who worked in the UK and paid the equivalent of our social insurance, could be entitled to access a British pension. More than 250,000 ...
Over half of complaints to FSPO in 2024 related to banking
Just over half (3,404) of the 6,185 complaints made to the Financial Services and Pensions Ombudsman (FSPO) last year were about banking, with customer service and disputed transactions ...
Energy transition could generate €19 billion a year – SEAI
A new report from the Sustainable Energy Authority of Ireland (SEAI) estimates that Ireland’s energy transition will drive up to €19 billion per year of new business by ...
ECB rates could fall to 2% by end of summer, Villeroy says
There is still room to lower European Central Bank interest rates further, and the 2.5% deposit rate could fall to 2% by the end of the summer, French ...
Central Bank announces new consumer protection code
The Central Bank has published a new consumer protection code aimed at modernising the set of rules that businesses must abide by when dealing with consumers. The regulator ...
Asking prices for homes rise by average of 3.7% in first quarter – report
Asking prices for homes nationally rose by an average of 3.7% during the first three months of 2025, according to the latest Daft.ie House Price Report. The study ...
Electricity demand set to grow 45% between now and 2034
The body which manages the electricity grid says demand is expected to grow by 45% from its 2023 level to 2034 and the peak requirement for power will ...
ECB board member makes case for more interest rate cuts
The case for another European Central Bank interest rate cut is strengthening, ECB board member Piero Cipollone said today, just days after another prominent policy dove made a ...
Euro zone economy growth accelerates to seven-month high in March, PMI shows
Euro zone business activity grew at its fastest pace in seven months in March, supported by an easing in the long-running manufacturing downturn despite slower growth in services, ...
Land, capital and labour issues must be addressed to increase housing output – BPFI
At least half of housing commencements in 2024 were due to uncertainty over the extension of the development levy waiver or water connection charge refund, according to the ...
US Fed holds interest rates steady as expected, as Trump tariff fears buffet markets
The Federal Reserve held interest rates steady today, as expected, but US central bank policymakers indicated they still anticipate reducing borrowing costs by half a percentage point by ...
Residential property prices up 8.1% in 12 months to January
Property prices rose by 8.1% in the 12 months to January this year, according to the latest figures from the Central Statistics Office. The cost of buying a ...
Commercial vacancy rate reaches highest level at 14.5%
The national commercial vacancy rate has reached its highest level on record at 14.5%, according to the latest GeoDirectory Commercial Buildings Report. The report, prepared by EY, shows ...
Central Bank reduces forecast for economic growth due to rising uncertainty
The Central Bank has reduced its forecast for economic growth for this year due to rising uncertainty caused by the trade war between the US and EU. It ...
NTMA to raise €1 billion in bond auction this week
The National Treasury Management Agency will seek to raise €1 billion in nine and 12-year debt in its first bond auction of the year on Thursday, the National ...
Irish exports to US jump by 81% in January – CSO
There was an 81% surge in Irish exports to the US in January compared with the same month a year earlier, according to the Central Statistics Office. Total ...
Safe-haven gold rises above $3,000 for the first time
Gold pierced through the psychological milestone of $3,000 an ounce today for the first time, building on an historic rally as trade tensions and US rate cut bets ...
Minister to travel to US for negotiations on tariffs
Minister for Agriculture Martin Heydon has said he will lead a “full trade mission to the United States” next month. It comes after US President Donald Trump increased ...
Euro zone banks must get into habit of tapping ECB for cash, ECB argues
Euro zone banks need to get into the habit of tapping the European Central Banks for cash, preparing for the continued decline in excess liquidity in the banking ...
Annual inflation eases to 1.8% in February – CSO
New figures from the Central Statistics Office shows that inflation eased to an annual rate of 1.8% in February from a rate of 1.9% in January. Today’s figures ...
AI expected to add €250 billion to Ireland’s economy by 2035 – report
A new report by Microsoft and Trinity College Dublin is projecting that the adoption of artificial intelligence (AI) could add €250 billion to Ireland’s economy, as measured by ...
Overall card spend in February up 10% on last year
The latest AIB Spend Trend report shows that Storm Éowyn led to an exceptionally quiet day for spending on Friday 24 January. AIB said the number of in-store ...
Irish mortgage rates edge higher in January despite ECB cuts
New figures from the Central Bank show that the average interest rate on new Irish mortgages rose to 3.82% in January from 3.8% in December despite recent rate ...
Number of apartments granted planning permission down 39% last year – CSO
New figures from the CSO show that the number of planning permissions granted for apartments fell by almost 39% last year when compared to 2023. The data from ...
EU to impose counter tariffs on €26bn worth of US goods
The European Union will impose counter tariffs on €26 billion ($28bn) worth of US goods from next month, the European Commission said, ramping up a global trade war ...
Almost three-quarters of workers aspire to retire by age 60 or sooner
Almost three-quarters of Ireland’s working population would like to retire by age 60 or sooner, according to new research. The latest Retirement Aspirations survey commissioned by pension company ...
Employment in construction down in February
Employment fell in the construction sector last month, ending a five-month period of jobs growth. The AIB Ireland Construction PMI report in February shows staffing levels were scaled ...
Taoiseach to pitch Trump on ‘two-way street’ of US-Irish investment
Taoiseach Micheál Martin will tell US President Donald Trump that there is a “two-way street” of investment between the US and Ireland, as a trade imbalance between the ...
Euro zone 2024 economic growth revised up to 0.9%
The euro zone economy grew by 0.9% in 2024, revised data showed today, higher than a previous estimate of 0.7%. The EU’s official statistics agency also revised growth ...
More than 70% of Irish adults targeted by scam communications monthly – research
More than three quarters (78%) of Irish adults are being targeted with scam text messages, emails, phone calls or online content at least once a month, according to ...
Airport strike to all but freeze German air travel today
More than half a million people are facing travel disruption at German airports today where a 24-hour strike has led to thousands of flight cancellations in a dispute ...
Domestic economy posts ‘healthy’ growth of 2.7% in 2024 – CSO
The domestic economy grew by a healthy 2.7% last year, according to the latest figures from the Central Statistics Office. Gross Domestic Product, which includes the multinationals activity, ...
Trump signs order to establish strategic bitcoin reserve
US President Donald Trump yesterday signed an executive order to establish a strategic bitcoin reserve, a day before meeting with executives from the cryptocurrency industry at the White ...
Steady growth in mortgage approvals continued in January – BPFI
January saw the first year-on-year decline in first-time buyer approval volumes since June 2024, new figures from Banking & Payments Federation Ireland show today. Today’s figures show that ...
Tax receipts in year to February up 12% on last year
Tax receipts in the first two months of this year are up 12% on the same time in 2024, indicating that the economy continues to power ahead. In ...
Govt ‘scenario planning’ for effects of US tariffs on EU
The Government is scenario planning for effects of tariffs being imposed on goods from Ireland by the Trump administration, according to the Minister for Public Expenditure Jack Chambers. ...
People look to new backup power sources after Storm Éowyn
The damage wreaked by Storm Éowyn in January has caused many home and business owners to look at other sources of backup power for the next big storm. ...
No sign of increased house or apartment building
New figures from the Central Statistic Office show there is no sign of an increase in the building of houses and apartments. Residential construction declined by 0.1% in ...
Irish companies warned to prepare for possible US tariffs
The Irish Exporters Association has warned companies to prepare for the possibility of tariffs being imposed on exports from the EU to the US. The CEO of the ...
Services growth eases slightly in February, PMI show
Growth in the country’s services sector eased slightly in February, with both total activity and new business expanding at the weakest rate for more than a year, a ...
Retail sales down 0.5% on a monthly basis in January – CSO
Retail sales fell by 0.5% month-on-month in January and by 0.3% year-on-year, new figures from the Central Statistics Office show today. The CSO said that excluding car sales, ...
Taoiseach to raise US tariffs during White House meeting
Taoiseach Micheál Martin has said he will tell US President Donald Trump that tariffs could cause damage to a “small open economy” like Ireland when the two men ...
Inflation at 1.3% in February, CSO’s flash estimate shows
Consumer prices rose by 1.3% year-on-year in February compared to a 1.5% rise a month earlier, a flash estimate of the Harmonised Index of Consumer Prices from the ...
ECB accounts show lingering inflation worries
Euro zone inflation was heading back to target but there were still some worries about inflation, warranting caution in signalling further policy easing, the ECB concluded last month, ...
‘Step-by-step’ approach to be taken on Trump’s EU tariffs, says Taoiseach
Ireland will take a “step-by-step” approach in response to any trade tariffs imposed on the EU by US President Donald Trump, Taoiseach Micheál Martin has said. Mr Martin ...
Bitcoin slides more than 5% to lowest since November
Bitcoin fell to a three and a half month low today, dragged by uncertainty about US President Donald Trump’s tariff plans and crypto policy and flagging investor confidence ...
Number of private tenancies rose 7.6% in 2024 – RTB
Despite concerns that landlords are leaving the market, new research from the State body which regulates the rental sector shows the number of registered private tenancies rose by ...
Europe launches plan to bolster clean tech sector, aid ailing industries
The European Commission has today proposed making €100 billion available to support EU-made clean manufacturing, streamlining public procurement processes and simplifying state aid rules to give Europe’s ailing ...
US policy shifts weighed on Irish consumer confidence
Cost-of-living concerns and US policy shifts weighed on Irish consumer confidence in February, according to the latest Credit Union Consumer Sentiment Survey. The study notes that a spate ...
US companies will keep positive view of Ireland even if tariffs imposed – survey
A survey of US companies that are members of the American Chamber of Commerce Ireland shows that 80% of respondents said they would continue to have a positive ...
CCPC calls for buyers to get free access to car history
The Competition and Consumer Protection Commission (CCPC) has launched a report calling for an online portal that would see used car buyers given free access to car-history information, ...
Average weekly earnings up 5.6% to €979.71 in fourth quarter – CSO
Preliminary estimates from the Central Statistics Office for the fourth quarter of last year show that average weekly earnings rose by 5.6% to €979.71 from €927.98 the same ...
Corporate bosses urge Berlin to quickly move on weak economy
German business leaders have today called on Berlin to form a new government swiftly, saying that Europe’s largest economy could not afford to waste any time as companies ...
Govt seeks to allocate €50m for cross-border projects
Taoiseach Micheál Martin and Tánaiste Simon Harris will seek Cabinet approval to allocate more than €50m towards cross-border projects. The Government has committed to increasing the Shared Island ...
European car sales drop in January as falling combustion engines outweigh EV gains
New car sales in Europe were down by 2.1% in January, as a jump in fully electric and hybrid-electric car registrations in its main markets was not enough ...
350,000 ‘hidden’ remote working jobs in Ireland – report
There are 350,000 office jobs which could be done remotely according to a new report. The research is from Grow Remote, an organisation that promotes remote working and ...
Rising business costs biggest challenge for 2025 – IHF
Occupancy rates in Irish hotels fell last year, while forward room bookings for 2025 are €100m lower than they were at this stage 12 months ago. Those are ...
Advertised rents rose by 5.7% in 2024 – Daft.ie report
Advertised rents rose by an average of 5.7% last year, according to the latest report by property listings website Daft.ie. The rate of increase is marginally slower than ...
Number of people in employment rises to just under 2.8 million – CSO
The estimated number of people in employment in the fourth quarter of 2024 stood at just under 2.8 million, up 2.6% compared with the previous year, the Central ...
Ireland lacks ambition and leadership on data centres and digital infrastructure – DII
The State needs to take the lead on data centre policy in order to ensure the ongoing strength of the wider digital infrastructure industry here, according to the ...
State to attend forum aimed at attracting investment in property sectors
The Irish State is to take part in a major international property conference in France next month in an effort to attract investment into residential construction. Senior officials ...
Annual house price growth slows to 8.7% in December – CSO
Residential property prices grew by 8.7% in the year to December, marking a slowdown from a revised 9.6% growth seen in the previous month, new figures from the ...
Positive outlook for commercial property asset types in 2025 – SCSI
A new survey from the Society of Chartered Surveyors Ireland has forecast a 1.4% rise in average prime office rents this year, with capital values rising by 1%. ...
IHBA does not believe home completions will increase this year
The Irish Home Builders’ Association (IHBA) has said it does not believe house completions will increase this year. The organisation said this is due to a drop in ...
Data centres to be required to make their carbon emissions public
Data centres are going to be required to make public their carbon emissions and use of renewables, under a new draft policy from the regulator responsible for the ...
€1.5m fund for not-for-profits working in communities
A €1.5 million fund to foster inclusive, resilient communities and strengthen social cohesion across Ireland has been announced. The fund, run by Rethink Ireland, in partnership with law ...
Residential vacancy rate falls to new low of 3.8%
The national residential vacancy rate fell to a new low of 3.8% in the final three months of last year. New figures from GeoDirectory and EY show that ...
Exports hit record level of €224 billion last year, with exports to US up 34% – CSO
Exports of goods from Ireland to the US surged by 34% last year, driven by a significant rise in pharmaceuticals, the latest figures from the Central Statistics Office ...
Household spending pace accelerates in January
Bank of Ireland said its customers increased their debit and credit card spending in January, with the pace of household spending growing by 6.1%, up from 4.5% in ...
Record employment levels in state agency supported firms
New figures show that jobs in client companies of Enterprise Ireland, IDA Ireland and Údarás na Gaeltachta, are now at their highest ever level, at over 546,763 jobs, ...
EU poll shows strong support for AI protections at work
A new Europe-wide survey shows strong public support for EU action to address the risks and maximise the benefits of artificial intelligence (AI) in the workplace. The European ...
Grid capacity prevents more wind energy savings
Spending on gas for electricity in Ireland was cut by almost one billion euro last year, as wind energy supplied 32 per cent of Ireland’s electricity. Irish wind ...
Cabinet to discuss move to allow local authorities zone more land for housing
Local authorities will be able to zone more land for housing under changes to the National Planning Framework which will be discussed by a Cabinet committee later. The ...
The price of romance on the rise, CSO figures show
New analysis from the Central Statistics Office has found that the cost of a typical St Valentine’s Day gift or night out has increased over the last five ...
Euro zone industry shrinks faster than feared in December
Euro zone industrial production shrank by more than expected in December, indicating that the sector’s two-year recession is far from over even if some sentiment and order figures ...
Reduced VAT rate should concentrate on food and catering sectors – Donohoe
Finance Minister Paschal Donohoe has said that the promised VAT reduction for the hospitality sector should be “concentrated on the food and catering” sectors. Sinn Féin Finance spokesperson ...
Rents should be freely adjusted between tenancies, OECD recommends
Rents should be freely adjusted between tenancies in a significant change to existing restrictions, a major new report on Ireland by the Organisation for Economic Cooperation and Development ...
Introduction of tariffs not good for Ireland, IDA chief told
Briefings for the CEO of the IDA said he needed to be prepared for questions on President Donald Trump’s plans for tariffs which were described as “counterproductive” and ...
Irish mortgage rates at lowest level since April 2023 – Central Bank
New figures from the Central Bank show that the average interest rate on new Irish mortgages in December fell to 3.8% – the lowest rate since April 2023 ...
Flexible work remains essential for attracting talent – study
Recruitment firm Cpl has released its salary guide for 2025 detailing the expected pay levels for a wide range of roles across 20 different sectors. The guide is ...
Tánaiste to attend EU trade meeting on US tariffs
Tánaiste and Minister for Foreign Affairs Simon Harris will join an emergency meeting of EU trade ministers via video conference later to respond to US President Donald Trump’s ...
Irish CEOs optimistic about economy’s growth this year
Three quarters of Irish CEOs expect economic growth to pick up in the coming year, according to the latest CEO Survey from PwC. That compares to 50% of ...
Govt examines introduction of ‘reference rents’ system
The Government is examining a recommendation in the Housing Commission’s report which backed the introduction of a system called “reference rents”. This would mean limits regarding how much ...
US tariffs will have some ‘secondary effects’ on Irish economy – Taoiseach
Taoiseach Micheál Martin has said there would be some “secondary effects” on the Irish economy as a result of US president Donald Trump’s announcement of 25% tariffs on ...
Potential replacement of GMT for Ireland to be discussed at forum
The potential replacement of Greenwich Mean Time (GMT) with a domestic Irish equivalent will be among the topics discussed at a forum in Dublin. The National Standards Authority ...
Mortgage switching activity picks up again as rates fall
Mortgage switching activity is growing again as customers try to take advantage of falling European Central Bank rates, according to online broker Doddl.ie. The volume mortgage customers switching ...
Oil prices climb as investors weigh new US tariffs
Oil prices moved higher today even as investors weighed US President Donald Trump’s latest tariff threat, this time on all steel and aluminium imports, which could dampen global ...
New registry to clamp down on scam text messages
The Commission for Communications Regulation (ComReg) is setting up an SMS Sender ID Registry to identify legitimate organisations in order to help cut down on text message scams. ...
Significant rise in car and home improvement loans – BPFI
There has been a significant jump in the number of people borrowing money to buy cars and make home improvements, according to latest figures from the Banking & ...
Tax take rises in January
There was a further payment of €1.7 billion from Apple’s tax money into the Government’s coffers last month, according to the Department of Finance’s Exchequer Returns. The funds ...
Highest earnings for workers in non-EU multinationals – CSO
Workers in non-EU multinational companies accounted for the highest average earnings in 2023, according to a new report from the Central Statistics Office. The research shows that median ...
Positive outlook for tourism in 2025 – Fáilte Ireland
Fáilte Ireland drove over 1.2 million referrals from its website and social media channels to the booking engines and websites of Irish tourism businesses last year. The tourism ...
Ireland will need to build 93,000 homes a year up to 2031 – Davy
Ireland will need to build 93,000 homes a year meet demand between now and 2031, according to a report by stockbroker Davy. The estimate is significantly higher than ...
Services growth slows abruptly in January, PMI shows
The country’s services sector grew at its slowest pace in nine months in January as new export business contracted for the first time in six months and employment ...
Over 500,000 people missing out on tax refunds – Revenue
More than half a million people are missing out on tax refunds, according to estimates from the Revenue Commissioners. It said that around €389m in tax may have ...
New electric vehicle registrations up 20% in January – SIMI
New figures from the Society of the Irish Motor Industry show that electric vehicle (EV) sales had a record-breaking month in January. SIMI said a total of 4,925 ...
An Post to raise price of domestic stamp by 25c to €1.65
An Post has announced that the price of a stamp will increase by 25 cent to €1.65 later this month. It said the rise takes account of wage ...
Euro zone inflation edges up in January to 2.5%
Euro zone inflation ticked up slightly in January to 2.5%, edging higher for a fourth consecutive month driven by energy price increases, official data shows. Consumer prices were ...
Fall in job vacancies but level of hybrid roles remains stable
There was a 9% quarterly decrease in the number of new job vacancies created on hiring platform IrishJobs in the fourth quarter of 2024. Manufacturing, IT, finance and ...
Buoyant manufacturing firms return to growth, PMI shows
The manufacturing sector returned to growth in January thanks to fresh impetus in output and new orders, as confidence levels among firms remained close to December’s 15-month high, ...
Gold hits record high on safe-haven demand amid tariff threats
Gold prices rose to hit a lifetime high today, sparked by safe-haven demand due to US tariff threats, while the focus was also on a crucial inflation report ...
Euro zone economy stagnated in last quarter, foreshadowing weak 2025
The euro zone economy stagnated last quarter as worried consumers zipped up their purses, adding to fears that a long-predicted recovery could be further delayed, Eurostat data showed ...
Bank of Ireland increases growth forecast for domestic economy for 2025
Bank of Ireland has increased its growth forecast for the domestic economy for this year. It said modified domestic demand will expand by 4% compared to an earlier ...
European Central Bank expected to cut interest rates by 0.25%
The European Central Bank is expected to cut interest rates by 0.25% when its governing council meets today. This will bring the main refinancing rate, which is used ...
First-time buyer mortgage drawdowns hit highest level since 2007
Mortgage drawdowns by first-time buyers (FTB) hit the highest level since 2007 last year, new figures show. The data from Banking and Payments Federation Ireland reveals that over ...
Over 80% of consumers targeted by scammers last year
Over 80% of Irish consumers were targeted by scammers last year, new data shows. The research carried out by international money app Wise, reveals that almost half of ...
GDP falls by 1.3% in fourth quarter, CSO preliminary estimate shows
A preliminary estimate from the Central Statistics Office today shows that gross domestic product (GDP) contracted by 1.3% in the fourth quarter of 2024 from the previous three ...
Spain’s economy outperforms euro zone in 2024 with 3.2% growth
Spain’s economy expanded a stronger-than-expected 3.2% in 2024, by far outperforming its euro zone peers’ sputtering economies, preliminary data from the National Statistics Institute showed today. Economy Minister ...
US tech stocks, dollar rebound after DeepSeek-triggered selloff
Technology stocks regained some ground today with chipmaker Nvidia up about 2.5% in early trading, a day after it suffered the biggest one-day market capitalisation loss in history, ...
Revenue says to work with businesses hit by storm Éowyn
Revenue’s Collector General says Revenue will work with businesses negatively impacted by storm Éowyn. Joe Howley said Revenue understands that many of those impacted are not in a ...
Euro zone banks tighten companies’ access to credit, ECB survey shows
Euro zone banks tightened firms’ access to credit last quarter and expect further tightening in the first three months of 2025, a European Central Bank survey showed today, ...
Remote working job ads hit record high
The share of Irish job postings on hiring platform Indeed offering remote or hybrid work rose to a record high at the end of December 2024. Indeed’s Jobs ...
Fraudulent payments rise by 26% in 2023 – Central Bank
New research from the Central Bank shows that the total value of fraudulent payments rose by 26% in 2023, increasing to €126m from €100m in 2022. But today’s ...
Tech sector calls for Minister for Digital Delivery
Technology Ireland, the Ibec group representing the tech sector, has called for the appointment of a Minister of State for Digital Delivery. Based in the Department of an ...
Widespread adoption of artificial intelligence in Irish businesses low – survey
Widespread adoption of artificial intelligence (AI) in Irish business remains low at just 6%, according to new research. PwC’s GenerativeAI (GenAI) Irish Business Leaders’ survey shows that 67% ...
Number of homes built decreased 6.7% last year – CSO
A total of 30,330 homes were built in 2024, a decrease of 6.7% on 2023, according to figures from the Central Statistics Office. The latest figures from the ...
Irish investment market to top €3bn in 2025, CBRE predicts
The Irish property investment market is set to record over €3bn of transactions in 2025, according to commercial property specialists CBRE. Its latest report ‘Outlook 2025’ makes a ...
UK Business Secretary leaves door open to joining European trade area
The UK Business Secretary has left the door open to joining a tariff-free trading scheme with Europe following a meeting with the EU trade commissioner in Davos. Jonathan ...
Wholesale electricity prices up almost 54% in year to December – CSO
New figures from the Central Statistics Office show that wholesale electricity prices fell by 6.2% in the month to December but were 53.9% higher compared to December 2023. ...
Annual house price growth slows slightly to 9.4% in November – CSO
Property prices rose by 9.4% in the 12-month period to last November, according to the latest figures from the Central Statistics Office. The figures indicate a slight moderation ...
Number of BER audits in 2024 up 7% on 2023’s total
New figures from the Central Statistics Office show that the number of domestic Building Energy Rating (BER) audits in 2024 came to 153,558, an increase of 7% over ...
Easing tariff fears cement bets on ECB rate cut next week
European Central Bank policymakers are likely breathing a sigh of relief that the new US administration did not impose the blanket trade tariffs some had feared and a ...
Economy to expand in 2025, employment to grow 2.4% – Ibec forecasts
Employers group Ibec has forecast that the economy will continue to expand in 2025 with employment growing by 2.4%. It said domestic demand would grow by 3% this ...
‘Hope’ in US approach to tariffs, says Burke
There was “cause for hope” in the new White House administration’s approach to tariffs, Minister of State for Trade, Employment and Enterprise Peter Burke has said. Speaking in ...
Irish employers facing worst skills shortage in 20 years – report
Irish employers have reported the greatest difficulty finding candidates with the right skills in 20 years, according to new research. The annual ManpowerGroup Talent Shortage Survey has recorded ...
Ireland levied more than half of Europe’s privacy fines in 2024
The Irish Data Protection Commission (DPC) was responsible for enforcing more than half of the €1.2 billion in European data fines in 2024. The latest GDPR Fines and ...
SCSI expects national property prices to increase by 6% this year
More than 80% of estate agents who are members of the Society of Chartered Surveyors Ireland believe that current property prices are either “expensive” or “very expensive”. The ...
Petrol and diesel prices continue to rise in January
The latest AA Ireland Fuel Survey shows that petrol prices have risen by two cents to an average of €1.76 a litre in January, while diesel prices have ...
Half of Irish firms plan to increase investment in 2025
Almost half of Irish business plan to increase investment capital projects this year, new data shows. This is higher than UK firms, with just 37% planning to invest. ...
Irish employment market resilient despite US election caution
The forthcoming presidency of Donald Trump in the United States looms large over business in Ireland, and is reflected in the current employment market. The latest employment monitor ...
Annual inflation rises to 1.4% in December – CSO
Inflation in Ireland is beginning to rise again, according to the latest figures from the Central Statistics Office. The increase in the cost of living was 1.4% in ...
Holyhead sailings resume following closure in December
Sailings into and out of Holyhead Port have resumed this morning, after a temporary closure due to damage caused by Storm Darragh in early December. Of the two ...
Wind and solar farms saved Irish consumers €840m since 2000
Wind and solar farms have saved Irish consumers a total of €840 million since the year 2000, according to new research for Wind Energy Ireland. This is despite ...
Land sales across Ireland topped €900m last year
Land sales worth just over €900m were completed across the country last year, new figures show. This is nearly three times the total spend recorded in 2023, but ...
SEAI pays record €616m in grants for energy upgrades and projects in 2024
The Sustainable Energy Authority of Ireland (SEAI) has said it disbursed a record €616 million in grants and supports for energy upgrades and clean energy projects last year. ...
New govt plans to cut VAT rate to 9% for parts of hospitality sector
The incoming government intends to cut the VAT rate to 9% for food-based hospitality, entertainment and hairdressing in the next budget. It is also understood the new programme ...
40% drop in public liability claims in past four years
There has been a 40% drop in public liability claims between 2019 and 2023, the body which resolves personal injury claims has said. The development follows the introduction ...
Ireland to be exempt from new US rules on AI chip exports
The US government said it would further restrict artificial intelligence chip and technology exports, divvying up the world to keep advanced computing power in the US and among ...
Grocery sales hit €1.4 billion over record-breaking Christmas
New figures show that, as expected, Monday 23 December was the most popular shopping day of 2024, with consumers spending €107m on that one day alone, an increase ...
China exports accelerate amid trade tensions, imports surprise
China’s exports gained momentum in December, with imports also showing recovery, though strength at the year-end was in part fuelled by factories rushing inventory overseas as they braced ...
Costs a concern for food and drink manufacturing firms
Irish food and drink makers feel “broadly positive” about current economic conditions, but the mood is slightly less positive than other industries, and likely to turn more negative ...
Plans on track for partial reopening of Holyhead Port – Taoiseach
Taoiseach Simon Harris has said that plans remain on track for the partial reopening of Holyhead Port next Thursday. Mr Harris spoke by phone with Welsh First Minister ...
Corporate insolvencies reach highest level since 2016
875 corporate insolvencies were recorded last year – the highest number since 2016. New figures from Deloitte show that SMEs continue to be the worst affected. The services ...
First-time buyer mortgage approvals hit record highs in November
New figures from Banking and Payments Federation Ireland (BPFI) show that first-time buyer mortgage approvals hit a record high last November. BPFI said that first-time buyer volumes rose ...
Grid constraints impact share of electricity supplied by wind
The share of electricity in Ireland supplied by wind fell during 2024 due to grid constraints, an energy company has said. Wind Energy Ireland said that despite wind ...
Homes being sold for average of 9% above asking price, report shows
First-time buyers are taking on more debt in proportion to their incomes than purchasers in the UK for the first time since the Celtic Tiger, according to a ...
Unemployment rate rises to 4.2% in December – CSO
New figures from the Central Statistics Office show that the country’s unemployment rate rose to 4.2% in December, from 4.1% a month earlier. The CSO said that on ...
Stay-at-home parent role valued at annual salary of €57k – study
The estimated annual salary of a stay-at-home parent has been calculated to be €57,140, according to new research. The analysis was carried out by pension and life insurance ...
Irish food and drink exports hit record high
Irish food, drink and horticulture exports were worth €17 billion last year, according to Bord Bia – a record high. The figure represents a 5% increase on 2023, ...
Euro zone inflation jumps in December on higher energy costs
Euro zone inflation accelerated in December, an unwelcome but anticipated blip that is unlikely to derail further interest rate cuts from the European Central Bank. Inflation in the ...
Second hand home prices rose by 8.4% last year
The average price of a second hand home rose by 8.4% last year, almost double the rate of growth witnessed in 2023, the latest residential market review and ...
Euro zone economy ended 2024 in precarious state, PMI shows
The euro zone economy ended 2024 in a fragile state, according a survey which showed overall activity contracted for a second month in a row December as a ...
Services new business growth hits nine-month high in December
The services sector activity expanded slightly slower in December but growth in new business hit its fastest pace since March and optimism for the coming 12 months improved, ...
Corporation tax increased by 18% last year to €28bn – Department of Finance
Corporation tax increased by 18% last year to €28bn, according to the latest Exchequer Returns from the Department of Finance. When €11bn, which has been raised so far ...
Lower than expected number of insolvencies in 2024
A new survey reveals significantly lower insolvencies than expected in the last quarter of 2024 and for the entire year. PwC’s latest Insolvency Barometer shows there were 852 ...
Exceptional weather needs exceptional response from employers
HR professional body CIPD has said that large parts of the country are facing exceptional weather conditions this week and such a situation requires an exceptional response from ...
NTMA plans syndicated bond issue during first quarter
The National Treasury Management Agency said it plans to issue a new bond via syndication in the first quarter of the year. The NTMA also said it will ...
Dollar stands tall in 2024, propped up by cautious Fed, Trump trade
The dollar slipped on the last trading day of the year today but was poised to clock strong gains in 2024 against almost all currencies as investors prepared ...
Electric Vehicle sales dropped 24% in 2024
The number of new cars bought in 2024 was 121,195, according to the Society of the Irish Motor Industry. The figure represents a slight decrease of 1% compared ...
Sharpest decline in production volumes for six months
There were subdued business conditions across the Irish manufacturing sector, according to the latest AIB Manufacturing Index. December data showed a sustained reduction in new orders which contributed ...
European stocks clock worst quarterly showing since 2022
European stocks recorded their worst quarterly showing in more than two years today, as uncertainty around interest rates and the Trump administration’s policies halted a rally that had ...
Annual inflation doubles to 1% in December, flash estimate shows
Consumer prices rose by 1% in the year to December, double the rate of 0.5% recorded in November, a flash estimate of the Harmonised Index of Consumer Prices ...
House prices rise 9% in 2024
House prices nationally rose by an average of 9% during 2024, according to the latest house price report by Daft.ie. The typical listed price nationwide in the final ...
Fed cuts rates but sees slower pace of further reductions
The US Federal Reserve has cut interest rates, as expected, but Fed Chair Jerome Powell said more reductions in borrowing costs now hinge on further progress in lowering ...
Residential property prices up 9.7% in October – CSO
Property prices are continuing to increase and are up 9.7% in the 12 months to October, according to the latest figures from the Central Statistics Office. Prices in ...
Spending by BOI customers up 6.8% on Black Friday
Black Friday sales are an established part of the Irish retail calendar, as demonstrated by a Bank of Ireland report which shows spending by its customers on the ...
Holyhead Port to stay closed until 15 January ‘at the earliest’
Holyhead Port is to remain closed until 15 January at the earliest, it has been announced. All ferry services between Dublin and Holyhead are cancelled until this time. ...
Planning permissions down 10.9% in third quarter – CSO
New figures from the Central Statistics Office show an annual decrease of 10.9% in the total number of dwelling units approved in the third quarter of this year, ...
€33k a year pension needed for ‘comfortable’ retirement
A single person would need a pension of €33,600 a year, and a couple would need €43,200 a year, in order to have a “comfortable” retirement. The figures ...
Exports in October rise by 21% on last year – CSO
New figures from the Central Statistics Office show that exports of goods for the first ten months of the year came to €187 billion, an increase of 13% ...
Europe’s jobs market continues to soften in third quarter
Europe’s labour market softened in the third quarter, data releases showed today, pointing to a further decline in inflation pressures that could justify more interest rate cuts. The ...
Ireland failing to comply with EU rules on professional qualifications
Ireland is one of 22 EU member states who are failing to comply with EU rules on professional qualifications, according to the European Commission. The Commission has opened ...
Fuel prices move higher again in December
Fuel prices increased again this month, the latest AA Ireland Fuel Survey reveals. Petrol prices rose by a cent to an average of €1.74 per litre, while diesel ...
Just a fraction of fines imposed by DPC collected so far
Just a tiny fraction of the €3.26 billion in fines levied by the Data Protection Commission (DPC) over the past five years has been collected. The DPC said ...
1,076 jobs saved due to SCARP over past three years
Over 1,000 jobs have been saved through the Small Company Administrative Rescue Process (SCARP) since it was launched three years ago, new figures show. The scheme aims to ...
An Post vows to clear backlog of parcels after storm delays
An Post expects to receive around 350,000 parcels from the UK over the next 24 hours after Holyhead Port’s closure caused a backlog. It said it has the ...
Annual inflation rate rises to 1% in November from 0.7% in October – CSO
New figures from the Central Statistics Office show that consumer prices rose by 1% in November compared to the same time last year. This marked an increase from ...
ECB cuts rates again, keeps door open to further cuts
The European Central Bank cut interest rates for the fourth time this year today, by quarter of a percentage point, and kept the door open to more as ...
Demand for green skills in Ireland growing at twice the global average
Demand for green talent in Ireland grew by over 22.1% last year, well above the global average of 11.6%, according to research. The latest Labour Market Pulse published ...
ECB set to cut interest rates for fourth time this year
Interest rates are expected to be cut by 0.25% by the European Central Bank today. If a reduction is announced it would immediately benefit tracker mortgage customers. The ...
House prices overvalued by 8-10%, ESRI warns in latest economic update
Irish property prices are overvalued by 8% to 10%, according to the Economic and Social Research Institute (ESRI) in its latest Quarterly Economic Commentary. The organisation analysed the ...
Energy-related greenhouse gas emissions down 8.3% in 2023
Energy-related greenhouse gas emissions from transport, electricity, and heat fell 8.3% last year, according the latest report from the SEAI. They are now at their lowest level for ...
Bank of Ireland sees 30% rise in Christmas debit and credit card spending
Bank of Ireland said it was seeing an increase in spending on its customers’ debit and credit cards as the countdown to Christmas is in full swing. The ...
25% fall in new electric car sales so far this year – CSO
New figures from the Central Statistics Office show a 25% decrease in the number of electric cars licensed for the first time during the first 11 months of ...
Three quarters of Irish employers planning to recruit in 2025 – report
Almost three quarters of Irish employers plan to recruit for permanent roles in 2025, according to new research, an 11% decline compared to 2024. The report, which was ...
Wind farms generated 32% of electricity so far in 2024
Power generated from wind farms met 32% of the country’s electricity demand over the first 11 months of 2024, new figures from Wind Energy Ireland shows. Wind Energy ...
Manufacturing sector performing strongly despite rising costs
Confidence in the manufacturing sector remains steady, with 70% of firms expressing a positive outlook at both national and enterprise level. That’s according to this year’s Manufacturing in ...
Gen AI could add €148bn to Ireland’s GDP by 2038 – report
Generative artificial intelligence (Gen AI) could add up to €148 billion to Ireland’s annual GDP by 2038, according to a new report from Accenture. The research found that ...
Consumers to spend 14% more on average this Christmas
Consumers in Ireland expect to spend around 14% more on average this year on Christmas than they did in 2023. New research from the Competition and Consumer Protection ...
Construction jobs most in-demand roles this year
New research from hiring platform IrishJobs shows that workers in the construction industry were among the most in-demand professions in 2024. It comes as the sector continues to ...
Domestic economy grows 3.1% in first nine months of 2024 – CSO
The domestic economy expanded by 3.1% in the first nine months of this year, according to the latest figures from the Central Statistics Office. The figures show personal ...
Number of landlords in Ireland up 5.7%, RTB figures show
Figures from the Residential Tenancies Board have shown an increase in the number of landlords across all categories. The figures show that between the end of September 2023 ...
Almost 70% of Irish employees expecting end-of-year bonus
Almost 70% of Irish employees are expecting an end-of-year bonus, new research shows. The study carried out by Workhuman shows that around half of employees are also expecting ...
Optimism among SMEs at highest level in over a year
Optimism within the Irish SME sector is at its highest level for over a year, according to the latest SME Confidence Index from non-bank lender Linked Finance. Linked ...
Central Bank warns of risks of global uncertainty, trade tensions
The Central Bank has warned that Ireland’s exposure to global uncertainty and rising political and international trade tensions, raise the prospect of lower trade and economic growth. The ...
State faces €20bn fine if it fails to reduce emissions, Fiscal Council says
The State could face a cost of €20 billion if it fails to achieve reductions in carbon emissions in 2030, according to an assessment by the watchdog which ...
ECB rate cut of 25 bps possible, not more, ECB’s Holzmann tells paper
It is “conceivable” that the European Central Bank will cut interest rates by 25 basis points at its next rate-setting meeting this month but not more, ECB policymaker ...
Activity in services sector rises as inflationary pressures ease
Activity in the services sector increased last month as inflationary pressures eased, new data shows. The latest AIB Purchasing Managers’ Index shows that activity expanded at its fastest ...
Dublin Airport set to breach passenger cap limit this year
Passenger numbers at Dublin Airport in November were 3% higher than the same month last year, with numbers at Cork Airport up 5%. Airport operator daa said that ...
Virtual and hybrid AGMs now possible due to new order
It will be possible to hold virtual or hybrid AGMs and other general meetings of companies and societies as a result of the signing of an order commencing ...
Number of new mortgages approved in October up 8.6%
The number of new mortgages approved in October was up 8.6% on the previous month. In total 4,829 new mortgages got the green light, up 13% compared to ...
Dublin ranked 43rd in global quality of living index
Dublin has been ranked in 43rd place in an annual assessment of the quality of living standards of cities globally. This was down one place on last year’s ...
Euro zone inflation edges up, ‘underlying’ price growth steady
Euro zone inflation accelerated in November and its most closely watched components remained high, data showed today, adding to the case for a more cautious European Central Bank ...
ECB’s Lane says bank should focus on future risks for policy decisions, FT reports
The European Central Bank should make future monetary policy decisions based on upcoming risk rather than the latest economic data, ECB chief economist Philip Lane told the Financial ...
Manufacturing activity contracts slightly in November – PMI
The country’s manufacturing sector saw a slight downturn in November, with a survey today showing a contraction in activity as new orders weakened. The latest AIB Ireland Manufacturing ...
Inflation increases to 0.5% in November – flash estimate
Consumer prices rose by 0.5% in the year to November compared to 0.1% in October – the highest level in three months – a flash estimate of the ...
AI accountability lab launched at Trinity College Dublin
A new research group designed to advance accountability in artificial intelligence (AI) has been launched at Trinity College Dublin. The AI Accountability Lab will examine the broader impacts ...
Monthly retail sales dip by 0.1% in October – CSO
New Central Statistics Office figures published today show that retail sales fell by 0.1% on a monthly basis in October to stand 0.9% higher than a year earlier. ...
NTMA to issue €6-10 billion worth of bonds next year
The National Treasury Management Agency said today it plans to issue €6 billion to €10 billion of bonds over the course of 2025 – the same range it ...
Cost competitiveness a top issue for US companies here
Cost competitiveness is the the top issue for American companies looking to expand in Ireland, new data shows. The latest survey of American Chamber members shows that 32% ...
Oil traders focus on weekend OPEC+ meeting
Slowing fuel demand growth in top consumers China and the US has weighed heavily on oil prices this year, although supply cuts from OPEC+, which groups the Organization ...
US Fed sees interest rates coming down ‘gradually’ – minutes
US Federal Reserve officials expect inflation to keep cooling, signaling a gradual approach to interest rate cuts if price increases ease further and the job market remains strong, ...
Surge of cash-in-hand pay in hospitality sector
There has been a rise in the use of cash-in-hand payments for staff in the hotel and catering sector, according to new research. Excel Recruitment’s 2025 Salary Guide ...
November consumer sentiment steady but subdued
Irish consumer sentiment was “steady but subdued” in November. The latest Credit Union Consumer Sentiment Index, in partnership with Core Research, shows an index reading of 74.1 for ...
Irish workers among most honest employees in the world
Irish workers are among the strictest in the world when it comes to ethically questionable practices like nepotism and fake sick days, according to a new survey. The ...
Irish investors accelerating investment in energy transition, but regulatory risks remain top barrier to growth
More than eight out of ever ten Irish investors believe investment in energy transition assets is increasing rapidly, according to new research from KPMG. That compares to 72% ...
€4.3m spent every hour on Black Friday last year – AIB Spend Trend
Figures from AIB show that Black Friday 2023 broke all records for online spend and indications are that this year will be no different as shoppers hunt for ...
Irish consumers plan to spend €329 around Black Friday
Irish consumers plan to spend €329 each over the period of the upcoming Black Friday and Cyber Monday weekend. That is higher than the planned spending by all ...
Value of mortgages lent by ILCU credit unions up 51% in the last year
The total value of mortgages lent by credit unions affiliated to the Irish League of Credit Unions (ILCU) has risen 51% in the past year. Publishing its annual ...
Costs are top election issues for businesses – Ibec study
The cost of doing business is the top election issue exercising the minds of senior business leaders, new research by Ibec has found. 25% said it was the ...
High costs and lack of skills impacting business growth plans
High costs and a lack of skilled workers are impacting the growth plans of many companies, new research shows. The latest All-Island Business Monitor by InterTradeIreland, which compiles ...
Home commencements up 62% in October – Dept of Housing
Work started on 4,249 homes last month which represents an increase of 62% on October 2023, according to official figures from the Department of Housing. Dermot O’Leary, chief ...
Most consumers don’t trust Black Friday deals
Most consumers do not trust Black Friday deals, new research shows. The report published by the Competition and Consumer Protection Commission (CCPC) reveals that just 30% of consumers ...
Last year’s tax take jumps by 50% compared to 2020 – CSO
Total tax revenue last year was 50% higher than it was in 2020, new data from the Central Statistics Office shows. €116 billion in taxes and social contributions ...
Residential property prices up by 10% in September – CSO
Property prices are continuing to accelerate and are up 10% in the 12 months to September, according to the latest figures from the Central Statistics Office. The latest ...
Employment rate hits new record high in third quarter
The rate of employment in the country has increased once again, hitting a new record high, according to the latest Central Statistics Office figures. The Labour Force Survey ...
Average home rebuilding costs climb 6.2% in the last year
The national average cost of rebuilding a home has risen by 6.2% in the last year. That is lower than the 12% increase recorded last year and the ...
Health insurance prices increased by 11% this year
The Health Insurance Authority is urging consumers to review their policy and shop around to ensure they are not overpaying while securing the right coverage for their needs ...
‘High’ life satisfaction rate rises from 24% in 2022 to 29% last year – CSO
New research from the Central Statistics Office show that the proportion of people who rate their overall life satisfaction as “high” has increased from 24.4% in 2022 to ...
Halloween treats boost grocery sales by over 6%
Consumers spent a total of €1.16 billion in grocery stores in the four weeks to 3 November, making it the biggest sales month of the year so far. ...
Interest rate cut next month not yet certain – Makhlouf
The Governor of the Central Bank has said it would be going a bit far to say an ECB interest rate cut next month is in the bag. ...
Unions call on next government to respect workers’ rights
A group of trade unions will today launch its General Election pledge calling on the next government to respect workers’ rights. The ‘Respect at Work’ campaign is backed ...
Petrol and diesel prices up slightly in November – AA
The latest AA Ireland Fuel Survey reveals a slight increase in petrol and diesel prices for November after three months of fuel price decreases in a row. AA ...
Skills shortages a top concern within trades – survey
Skills shortages – and the cost of recruiting skilled labour – is the most common concern among tradespeople, according to a new survey. It was cited by 29% ...
Wind generation was third highest on record in October
Wind generation in Ireland was the third highest on record for the month of October, according to new figures from Wind Energy Ireland. The latest figures show that ...
Building sector running at 77% capacity despite demands
The Irish construction industry is running at around three quarters of its capacity on average at present, despite the strong demand for new housing and infrastructure. That’s according ...
Dublin ranks 17 out of 30 cities for real estate investment
Dublin has dropped from 13th to 17th position out of 30 European cities ranked for investment and development potential for 2025. London, Madrid and Paris took the top ...
Ireland says it expects to meet deadline for workers’ rights directive
The Government has said it expects to meet a deadline today to transpose an EU directive on workers’ rights. Unions however have accused the State of not fully ...
Crypto market capitalisation hits record $3.2 trillion
The value of the global cryptocurrency market has topped $3 trillion as the election of Donald Trump as US president spurred bets that friendlier US regulation could usher ...
Most Irish CEOs optimistic about growth and profitability
Most Irish CEOs are optimistic about the economic and business outlook over the next 12 months, new data shows. The latest EY CEO Outlook surveyed 1,200 executives globally ...
Onshore wind energy delays may result in 2030 target miss
The slow pace at which onshore wind energy infrastructure is being built in the Republic and Northern Ireland could result in the renewable energy targets set for 2030 ...
Motorists must provide driver number to insurer under new measure
Motorists will have to provide their driver number to their insurer when taking out a policy from next year. The new measure, which comes into effect on March ...
Value of food services up 5.2% driven by rising costs
The value of the food bought outside the home across the island rose 5.2% over the last year, new data from Bord Bia shows. It brought the total ...
Rents climb 1.7% between July and September
Advertised rents for homes across the country rose by a further 1.7% between July and September, according to new data from the property listings website Daft.ie. It was ...
IHF calls for urgent action to safeguard tourism and hospitality sectors
The Irish Hotels Federation has called on all political parties and candidates in the General Election to commit to policy measures aimed at staving off the commercial crisis ...
More ECB rate cuts coming but pace of easing uncertain, Rehn says
More European Central Bank interest rate cuts are coming and the deposit rate could hit the so-called neutral level in the first half of next year, Finnish central ...
Majority expect Christmas shopping to be more expensive this year
The cost of living continues to be felt among consumers with 72% saying they expect Christmas shopping to be significantly more expensive this year, while 36% expect to ...
Total construction activity falls despite strong growth in housing
Total activity in the construction sector fell in October, despite strong growth in housing. The BNP Paribas Real Estate Ireland Construction Total Activity Index rose slightly from 49 ...
Live Register figures edge 0.4% higher in October – CSO
New figures from the Central Statistics Office show that the seasonally adjusted Live Register total for October rose by 0.4% to 169,000 people – an increase of 700 ...
China consumer prices rise at slower rate in October
China’s consumer inflation rate slowed in October, official data showed over the weekend, in a sign that demand remains sluggish in the world’s second biggest economy. The slowdown ...
Leaders to discuss EU competitiveness at Budapest summit
EU leaders are meeting for a second day in Budapest to discuss the European economy and its competitiveness, as the continent continues to take stock of Donald Trump’s ...
Inflation rate steady at 0.7% again in October – CSO
The rate of inflation rose by 0.7% in the 12 months to October 2024, according to the latest Central Statistics Office figures. There was a significant fall in ...
Financial abuse experienced by 30% of adults – survey
Vulnerable adults are being urged to keep control of their own money as much as possible, including those with decision-making and capacity challenges. Almost a third of adults ...
Decarbonising electricity sector will cost €2bn annually – EAI
The Electricity Association of Ireland has published a report outlining a policy and investment pathway for the decarbonisation of the sector, which it says will play a critical ...
Unemployment rate rises slightly to 4.2% in October – CSO
The unemployment rate rose slightly to 4.2% in October from a near-record low of 4.1% a month earlier, new figures from the Central Statistics Office showed today. The ...
Dollar soars, euro tumbles as Trump wins election
The dollar soared today and was set for its biggest one-day rise since March 2020 after Republican Donald Trump won the US presidential election, while the euro, Chinese ...
Services sector continues to grow solidly in October
There was a sustained uptick in activity in the services sector last month, the latest AIB Ireland Services Purchasing Managers Index shows. However, growth momentum eased from September’s ...
Personal loan drawdowns hit highest level ever in second quarter
Strong demand for car loans propelled the value of personal loan drawdowns to the highest level recorded during the second quarter of the year. In total 60,674 loans ...
Over 700 cybersecurity incidents in Ireland last year
The National Cyber Security Centre (NCSC) received 5,276 reports last year, 721 of which were confirmed as cybersecurity incidents. This led to the opening of 309 investigations. The ...
OPEC+ agrees to delay December output hike for a month
OPEC+ has agreed to delay a planned December oil output increase by one month, the group said, as weak demand notably from China and rising supply outside the ...
October new car registrations up 9.7%, but EV registrations down 12.3%
New figures from the Society of the Irish Motor Industry (SIMI) show that new car registrations for October rose by 9.7% to 2,423 when compared to the figure ...
Government urged to ‘ramp up’ broadband capacity
The Government has been told that National Broadband Ireland should seek to ramp up its capacity to meet the demand for new connections in anticipation of continued strong ...
Wholesale electricity prices rise over 12% in September – CSO
New figures from the Central Statistics Office show that wholesale electricity prices increased by 12.2% in September compared to August, and were 1% higher compared to September of ...
International tourists spending less time here, more money
International visitors are spending less time in Ireland, but more money. New figures from the Irish Tourism Industry Confederation (ITIC) show that the length of overnight stays between ...
Euro zone inflation rebounds more than expected in October to 2%
Euro zone inflation accelerated more than expected in October and could still pick up further in the coming months, bolstering the case for caution in European Central Bank ...
Three quarters of businesses report increase in cyberattacks – survey
Almost three quarters of Irish businesses have reported an increase in cyberattacks in the past year, according to new research. The Hiscox Cyber Readiness Report shows that Irish ...
Irish infrastructure lagging behind EU counterparts – IFAC
Ireland’s infrastructure is lagging 25% behind that of high-income European economies, according to the Irish Fiscal Advisory Council. In a new report the spending watchdog said housing, health, ...
New scheme to reimburse costs to fix Celtic Tiger era defective apartments
The Government is establishing a pilot scheme for reimbursing apartment owners who fix Celtic Tiger era defective properties at their own expense. Two years ago the total cost ...
Euro zone disinflation on track, Lagarde says
Euro zone inflation is “well on track” to hit the European Central Bank’s 2% target next year, ECB President Christine Lagarde said today, repeating the bank’s most recent ...
Small bounce in consumer sentiment after Budget – Credit Union Consumer Sentiment Index
There was a “small bounce” in consumer sentiment in October, but little sense that consumers think Budget 2025 will dramatically improve the outlook for their household finances. That ...
First time buyers and switchers drive increase in Q3 mortgage drawdowns
Strong demand from first-time buyers (FTB) and switching activity drove an increase in both the volume and value of mortgage drawdowns in the third quarter. A total of ...
Growth expected to continue at moderate pace as economy nears full capacity – AIB report
More moderate growth is expected in the coming years as the economy and labour market reach full capacity, according to AIB’s Economic Outlook. It forecasts modified domestic demand ...
Motor insurance premiums rose 2% last year – Central Bank
The average premium paid by consumers for motor insurance in Ireland last year rose 2% to €568, the first increase in five years. It comes as the cost ...
635 million bottles and cans returned to Deposit Return Scheme
A total of 635 million plastic bottles and aluminum cans have been returned to the Deposit Return Scheme so far. That is according to new data from the ...
Study finds low levels of compliance with on-site and hybrid attendance policies
Just 10% of human resources professionals say that their organisation has a 100% level of compliance with on-site or hybrid attendance policies, new research has established. But the ...
Consumers warned of new ‘direct debit’ scam on the rise
Consumers are being warned of a new ‘direct debit’ scam which is falsely leading people to believe their bank account has been hacked. FraudSMART, the fraud awareness initiative ...
ECB starting to debate if rates have to go below neutral, sources say
European Central Bank policymakers have begun to debate whether interest rates need to be lowered enough to start stimulating the economy, ending years of economic restriction, conversations this ...
Staffing, energy costs biggest worries for Irish SMEs – SBCI
A new survey from the Strategic Banking Corporation of Ireland reveals that access to skilled staff, high energy and transport costs as well as access to finance are ...
Gas emissions dropped by 2.2% in the first three months of the year
Progress on cutting Ireland’s greenhouse gas emissions continued during the first three months of the year with an overall reduction of 2.2% in emissions compared with the same ...
€4 billion to be transferred from Exchequer to Future Ireland Fund
The State is transferring the first in a series of annual payments into a fund set up to invest windfall gains from taxing multinationals. Four billion euro is ...
Euro zone firms report slowdown in business momentum, ECB says
Euro zone firms have recorded a further slowdown in business momentum but overall economic growth is likely to remain positive as expansion in services offsets a manufacturing recession, ...
Petrol and diesel prices see third monthly fall
Petrol and diesel prices have decreased for the third month in a row, the latest AA Ireland fuel survey shows. Petrol dropped by two cents to €1.72 per ...
Coimisiún na Meán to launch Online Safety Code
Media regulator Coimisiún na Meán will formally launch Ireland’s Online Safety Code following the conclusion of an assessment by the European Commission. The rules will apply to video-sharing ...
Value of VC deals drop 59% in Q3 amid global slowdown
The value of venture capital deals in Ireland dropped 59% between July and September, compared to the same period last year. Data compiled by KPMG Venture Pulse shows ...
Euro zone inflation revised down to 1.7% in September
Euro zone inflation slowed more than previously estimated in September, according to revised official data released today, hours before the European Central Bank cut interest rates again. Year-on-year ...
ECB cuts interest rates again as inflation cools
The European Central Bank has cut interest rates for the third time this year, saying inflation in the euro zone was increasingly under control while the outlook for ...
ECB expected to cut interest rates today
The European Central Bank (ECB) is widely expected to cut interest rates today. If a reduction happens it would automatically benefit tracker mortgage customers and put downwards pressure ...
Huge increase in social and cost rental homes over 10 years – ICSH
The Approved Housing Body sector has seen huge growth over the past ten years, the CEO of the Irish Council for Social Housing has said. Donal McManus said ...
Extra €1bn spend above Budget figures announced by Government
Minister for Public Expenditure Paschal Donohoe has announced additional spending of €1bn above the figures published on Budget Day. The extra expenditure contained in the supplementary estimates relates ...
Government submits five year economic plan to EU
The Government has submitted a five year economic plan to the EU setting out its spending projections as part of a process of much greater oversight of Ireland’s ...
Inflation expected to stay above ECB target in medium term, survey finds
Economists expect inflation rates to stay above the European Central Bank’s 2% target in the medium term, according to a survey published by Germany’s Ifo institute today, a ...
Ireland’s pension system ranking drops to 18th place, report finds
Ireland’s pension system ranking has dropped to 18th place when compared with global peers, a new report shows. The Mercer CFA Institute Global Pension Index compares 48 retirement ...
All Govt departments, State bodies to accept cash under new strategy
The Minister for Finance will seek Cabinet approval for a strategy that will make it a requirement for all Government departments and State bodies to accept cash or ...
Euro zone banks see rebound in loan demand as rates fall – ECB
Demand for bank loans across the 20-nation euro zone rose in the third quarter and a further increase is expected in the final three months of the year, ...
Slight contraction in construction activity in September
Construction activity contracted slightly in September, the fourth time it has decreased in the last five months. The BNP Paribas Real Estate (BNPPRE) Ireland Construction Total Activity Index ...
Average mortgage rate unchanged for third consecutive month despite ECB cuts – Central Bank
The average interest rate on new Irish mortgages remained unchanged for the third month running in August at 4.11%, new figures from the Central Bank shows today. The ...
Ireland to miss EU cybersecurity deadline
Ireland is to miss a deadline to transpose a new European Union cybersecurity directive into Irish law. The Network and Information Security Directive, or NIS2, is supposed to ...
Half of all contactless payments made using mobile wallets
Smartphones and watches are becoming the preferred payment method for many, new data shows. The latest figures from Banking and Payments Federation Ireland (BPFI) show that half of ...
Annual inflation falls to 0.7% – lowest since March 2021
A drop in energy prices has resulted in a significant fall in inflation which declined from 1.7% in the 12 months to August to 0.7% in September – ...
ECB accounts show cautious stance on further policy easing
European Central Bank policymakers appeared content with the drop in inflation when they met last month but argued for a gradual policy easing given stubborn price pressures, the ...
61% of business leaders believe Budget 2025 will support growth
More than three in five business leaders believe Budget 2025 will help them achieve their strategic priorities amid pressing business challenges, a new survey from the Irish Management ...
Public encouraged to recycle electronics which may contain valuable metals
The public is being encouraged to dig out unwanted electronics and cables which could contain valuable metals. Ahead of International E-Waste Day next Monday, WEEE Ireland, the country’s ...
EU’s financial watchdog warns of growing budget risks
There are growing risks to the EU budget due to a record amount of debt, Russia’s war against Ukraine and high inflation, according to the annual report of ...
ECB policymakers press case for October rate cut
Several European Central Bank policymakers argued their case today for another interest rate cut next week, even if some of their colleagues remained unconvinced as turmoil in the ...
Govt’s move to increase spending above 5% will aggravate inflation, Central Bank Governor says
The Governor of the Central Bank has the Government’s decision to increase spending above 5% over an extended period will aggravate price inflation and wage pressures. Gabriel Makhlouf ...
Govt legislation over planning system to go before TDs
The Government’s extensive legislation to overhaul the planning system is due to go before TDs tonight for a final vote. The proposed law will see An Bord Pleanála ...
Poll suggests ECB to cut rates by 25bps in Oct and Dec
The European Central Bank (ECB) will cut its deposit rate by 25 basis points on October 17 and again in December, according to more than 90% of economists ...
EU drops Antigua and Barbuda from tax haven blacklist
The European Union has removed Antigua and Barbuda from its tax haven blacklist, an instrument that has been slammed as ineffective in the past by anti-poverty groups. The ...
Hiring and retention big challenge for all firms – survey
Almost all business leaders are experiencing difficulties with hiring, retention, or both, new research has found. The study also revealed that the top hiring challenges encountered by enterprises ...
Asking prices for homes nationally up 7.5% over the year
Asking prices for homes have risen 7.5% over the last year, new data from listings website MyHome.ie shows. That is the highest rate of increase in two years, ...
ECB will probably cut rates in October on risk of too low inflation – Villeroy
The European Central Bank will probably cut interest rates on October 17 as economic growth is weak and this raises the risk that inflation will undershoot its 2% ...
Oil prices dip after strongest weekly rise in over a year
Oil prices fell today, after posting their steepest weekly rise in more than a year last week, as oversupply concerns amid softer demand countered the worries over a ...
Tax take to end of September up 11% on same period last year
Tax take between January and the end of September was up 11% on the same time last year, driven by corporation tax, income tax, VAT and excise duty. ...
Half of new homes should be built in Dublin, Chamber President to say
The President of Dublin Chamber will call for half of all new homes built every year to be constructed in the Greater Dublin Area at the organisation’s annual ...
Service sector activity rises at strongest rate in 6 months
Activity in the service sector increased at the strongest rate in six months in September as cost pressures eased, new data shows. The latest AIB Global S&P Purchasing ...
Unemployment rate of 4.3% for September – CSO
New figures from the Central Statistics Office show that the unemployment rate stood at 4.3% in September, down from a revised rate of 4.5% the same month last ...
Western Region ‘continues to lag other regions’, says development commission
A landmark report commissioned by the Western Development Commission (WCD) has found critical challenges facing the western and north western region in the areas of infrastructure, housing and ...
Inheritance tax free thresholds to increase
The amount that can a person can receive as a gift or inheritance from a relation before having to pay Capital Acquisitions Tax will be increased as part ...
Dáil votes through some elements of Budget 2025
The Dáil has voted through elements of Budget 2025. These include excise on tobacco products and changes to value added tax, capital acquisitions tax and stamp duty. Each ...
The latest from the 2025 Budget Announcement
For the latest information from the 2025 Budget Announcement, please visit RTE: https://www.rte.ie/news/2024/1001/1472893-budget-2025-politics/
Auto-enrolment pension scheme to begin in September 2025
The Government’s new auto-enrolment pension scheme will begin on 30 September 2025. The new start date was agreed by the Cabinet this week, and revealed by the Minister ...
Free schoolbook scheme set to be extended to senior cycle
The extension of the free schoolbook scheme to the senior cycle is among the measures set to be announced in tomorrow’s Budget, following Government discussions last night. Funding ...
Asking prices for homes rose 3.1% in third quarter
Asking prices for homes across the country rose 3.1% between July and September, according to listings website Daft.ie. It brought the typical listed price for a property here ...
Mortgage approvals fell 12.5% in August – BPFI
The number of mortgages approved in August fell by 12.5% when compared to July. New figures from the Banking and Payments Federation Ireland (BPFI) show 4,650 mortgages received ...
Ireland ‘most phished’ country in the world, survey finds
Almost two-thirds of Irish adults have experienced phishing, making Ireland the most phished country in the world, according to new research. Phishing involves the sending of fraudulent emails ...
Consumer sentiment unchanged in September
Consumer sentiment remained broadly unchanged in September when compared to the previous month. The Credit Union Consumer Sentiment Index found that while recent months saw an obvious improvement ...
Cabinet due to sign off on measures to increase housing grants
Older people and people with a disability are set to be eligible for increased housing grants under measures to be signed off by the Cabinet. A review of ...
Inflation still a big concern for many, research finds
More than a quarter of households remain concerned about inflation, new research has found. That is despite the annual rate of inflation falling back to 1.7%, down more ...
‘Crucial’ zoned land tax implemented ‘immediately’, says ESRI
The Economic and Social Research Institute (ESRI) has said it is “crucially important” the implementation of the Government’s residential zoned land tax proceeds “immediately”. The levy is due ...
Two-thirds of organisations to increase pay next year – survey
Two-thirds of organisations plan to increase salaries in 2025 which is down from the 86% that did so in 2024, according to a new survey. The latest HR ...
Domestic economy to grow by 2.3% this year
The domestic economy looks set to grow by around 2.3% this year, a new forecast has predicted. The latest Economic Eye from EY also expects that modified domestic ...
Tourism activity still 6% below pre-Covid levels – ITIC
Activity in the tourism industry still remains 6% below its pre-Covid levels, two years on from the start of the easing of the pandemic. That is according to ...
Euro zone business activity contracts unexpectedly in September
Euro zone business activity contracted sharply and unexpectedly this month as the bloc’s dominant services industry flatlined while a downturn in manufacturing accelerated, a survey showed today. The ...
Regulatory environment biggest issue facing growth of the funds sector, research finds
The regulatory environment and availability of the necessary talent are among the biggest factors influencing future growth of the funds and asset management industry here, a new study ...
CIF says 60,000 houses a year needed to meet demand
The Construction Industry Federation is holding its annual conference in Croke Park in Dublin today, which will focus on addressing population growth. The CIF is calling for a ...
Over 400,000 homes to receive fuel allowance payments
The first payments of the Government’s fuel allowance will be made this week. The means-tested payment will be paid for 28 weeks to over 400,000 households across the ...
Homes being sold for 10% more than asking prices
Bank of Ireland said new analysis shows that competition for homes intensified during the summer with almost 40% of transactions now being settled at a minimum 10% premium ...
GenAI to automate over 80% of tasks in nearly one third of all jobs – study
Nearly one third of all jobs are poised to be fundamentally transformed by generative artificial intelligence (GenAI), according to a new study. The research by management consulting firm ...
21% of adults have no financial arrangements in place for retirement – CCPC
21% of adults here do not have any financial arrangements in place for retirement, a new survey has found. That is up four percentage points on last year, ...
90% of Irish CEOs see full return to office in three years’ time
90% of Irish CEOs believe there will be a return to pre-pandemic ways of working in the office within the next three years, according to new research. KPMG’s ...
84% of businesses to increase pay in 2025 – survey
New research shows that 84% of businesses are planning to increase pay in 2025, with respondents forecasting an average increase of 3.4% across all business sectors. Business group ...
Annual house price growth accelerates to 9.6% in July – CSO
New figures from the Central Statistics Office show that residential property prices grew by 9.6% in the year to July – their highest growth rate in 21 months. ...
Euro zone current surplus shrinks in July
The euro zone’s current account surplus shrunk in July on a lower trade surplus and a drop in primary income, which includes the flow of profits, wages, interest ...
US Fed cuts interest rates by half a percentage point
The US Federal Reserve has cut interest rates by half of a percentage point, kicking off what is expected to be a steady easing of monetary policy with ...
52,000 homes per year needed over 25 years – Central Bank
Dealing with the pent-up demand for housing and continued growth in the population will require building 52,000 homes a year over 25 years, the Central Bank has forecast. ...
Committee to discuss scrapping age-based minimum pay rates
A bill that seeks to abolish age-based sub-minimum pay rates for younger workers will be discussed today by the Oireachtas Committee on Enterprise, Trade and Employment. Current legislation ...
Budget 2025 energy credit to be paid by end of year – Tánaiste
The Tánaiste has said the energy credit which will be announced in the budget will be paid to households before the end of the year. With Budget 2025 ...
Euro zone rates should be cut gradually – ECB economist
The European Central Bank should keep cutting interest rates gradually, its chief economist said today, after policymakers reduced borrowing costs last week for the second time this year. ...
Monthly grocery sales rise by 5.4% in latest four week period
New figures from Kantar today show that take-home grocery sales increased by 5.4% in the four weeks to September 1 as Irish households prepared for the new school ...
Commercial vacancy rate hits new high of 14.4%
The national commercial vacancy rate hit a new high of 14.4% in June, new data shows. 30,246 commercial units were classified as vacant across the country, according to ...
Call for tax exemption for companies developing sites
A developer has told a conference there should be an exemption from the Government’s planned zone land tax for companies that are working on developing sites. The Cabinet ...
8 changes to look out for in Budget 2025
Ahead of Budget 2025 in October, here are eight changes to look out for: 1. Inheritance tax At present if somebody inherits from a parent, they pay 33% ...
Investment package aims to boost tourism to Gaeltacht islands
A multi-million euro investment package has been announced to boost tourism and develop new visitor attractions on two islands. Fáilte Ireland and Údarás na Gaeltachta will work in ...
Inflation eases to three year low of 1.7% in August
New figures from the Central Statistics Office show that the annual rate of inflation eased to 1.7% in August from an annual rate of 2.2% in July. The ...
ECB cuts euro zone interest rates again
The European Central Bank cut interest rates again as euro zone inflation slows and economic growth falters, but provided no substantial clues to its next step, even as ...
Consumer sentiment has rebounded, research finds
Consumer sentiment has rebounded markedly, new research has found. According to the latest PTSB Reflecting Ireland report, respondents are now more positive than they were at any time ...
European Central Bank expected to further cut interest rates
The European Central Bank is widely expected to cut interest rates by 0.25% later today. The development follows a significant drop in inflation across countries which use the ...
US consumer inflation eases more than expected in August
US consumer inflation eased more than expected last month, according to government data published today, likely bolstering calls for the Federal Reserve to cut interest rates next week. ...
Rebound of hiring confidence in the tech sector – survey
Ireland’s tech sector expects a resurgence in hiring confidence following consecutive quarters of stagnant recruitment, according to the latest Manpower Group Employment Outlook Survey. The study shows that ...
UK economy shows no growth in July as manufacturing sags
Britain’s economy stagnated for a second month in a row in July as manufacturing output dropped sharply, an inauspicious start for the new government of Prime Minister Keir ...
Apple tax funds ‘cannot be used for day-to-day spending’, says Tánaiste
Taoiseach Simon Harris has said that the €14 billion in tax due to Ireland following the ruling against Apple cannot be used for day-to-day spending, adding that the ...
Tourism providers report disappointing summer season
New research from Fáilte Ireland has found the crucial summer tourism season was a disappointing one for more than half of operators here. 53% of those industry providers ...
State completes latest renewable energy auction, but at relatively high price
The State has completed the fourth auction under the Renewable Energy Support Scheme (RESS 4). The process saw more than 2GWh of capacity provisionally procured, enough to power ...
Australia plans social media minimum age limit
Australia plans to set a minimum age limit for children to use social media citing concerns about mental and physical health, sparking a backlash from digital rights advocates ...
Draft review of stamp duty does not advocate for increase in rate
A review of the stamp duty rate on the purchase of ten or more homes is not advocating for a hike in the 10% rate. RTÉ News has ...
Irish employers least likely to use AI – global survey
Irish employers are least likely to use artificial intelligence (AI) in the workplace, according to new global research. The survey of 79,000 businesses across Australia, Canada, Ireland, New ...
Construction PMI flat for second month in a row in August
Construction activity was flat for the second month in a row in August, according to the latest Purchasing Managers’ Index from BNP Paribas Real Estate Ireland. The construction ...
Irish wind farms set new August generation record
Wind Energy Ireland said that wind generation here hit the highest on record for the month of August. Its figures show that wind power generation in August totalled ...
Domestic economy grew by almost 2% in first half of 2024 – CSO
The domestic economy grew by almost 2% in the first six months of this year, according to latest figures from the Central Statistics Office. Today’s CSO figures show ...
New products and services to spur growth for 77% of firms
77% of companies expect to grow their business in the next five years by developing new products and services, research from Deloitte shows. The survey of 128 businesses ...
Fixed broadband subscriber lines increase 3%
Fixed broadband subscriber lines increased to 1.67 milllion between April and June, up over 3% on the same time last year. The latest data from the Commission for ...
Government warned by Fiscal Council over management of public finances
The State’s fiscal watchdog has issued a stark warning to the Government about its management of the public finances with less than a month to go before the ...
Tax take in first 8 months 12.6% ahead of last year
New figures from the Department of Finance show that the amount of tax collected by the State in the first eight months of this year rose by 12.6% ...
One in three companies struggling to find skilled staff
One in three companies are struggling to find staff with the right skills, new research shows. InterTradeIreland’s latest All-Island Business Monitor reveals that the business landscape across the ...
Dublin Airport set to breach 32m passenger cap this year
Dublin Airport looks set to breach its cap of 32 million passengers this year, its operator daa has warned. In a statement this morning. the company said that ...
Electricity sector climate pollution at lowest in decades
Climate pollution from Ireland’s electricity sector is now at its lowest level for decades, according to new figures from the Sustainable Energy Authority of Ireland. The data shows ...
Government warned by IFAC over management of public finances
The State’s fiscal watchdog has issued a stark warning to the Government about its management of the public finances with less than a month to go before the ...
Report recommends forum of state bodies to tackle mortgage arrears issue
A new Government commissioned report has called for the establishment of a forum of senior representatives from departments and bodies to focus on further reducing mortgage arrears. The ...
Ibec warns against complacency ahead of general election
Complacency about future business growth is a key risk facing the country ahead of the next general election. That’s the view of employers’ representative organisation, Ibec, which launched ...
Electricity sector climate pollution at lowest in decades, says SEAI
Climate pollution from Ireland’s electricity sector is now at its lowest level for decades, according to new figures from the Sustainable Energy Authority of Ireland. The data shows ...
CSO’s Census Pilot Survey to test new online census
The Central Statistics Office said today that its Census Pilot Survey will take place in 44 locations across the country during September. Census 2027 will be the first ...
Chartered Accountants Ireland and CPA Ireland finalise amalgamation
Chartered Accountants Ireland and CPA Ireland have started to operate as one institute under the Chartered Accountants Ireland brand. Members of the two Irish-based accountancy bodies first voted ...
New electric vehicle sales down over 25% so far this year
Just over 15,000 new electric vehicles have been sold so far this year, down over 25% on the same period last year. The latest figures from the Society ...
42% of new homes sold in 2023 were part of a block sale
Four out of every ten new homes sold last year across the country changed hands as part of a transaction where multiple units were sold together, new research ...
Annual wholesale electricity prices up over 15% in July – CSO
The wholesale cost of electricity rose 3% in the month to July, new data from the Central Statistics Office shows. It meant that prices were 15.3% higher than ...
Annual inflation falls to 3-year low of 1.1% – flash data
Inflation in Ireland is continuing to ease, according to the latest figures from the Central Statistics Office. The EU Harmonised Index of Consumer Prices (HIPC) is estimated to ...
Wage Subsidy Scheme set to be expanded
The Wage Subsidy Scheme, which offers private sector employers a subsidy to provide employment to people with disabilities, is to be expanded. A number of changes to the ...
Changes to work permits to come into force next week
Changes to employment permits, designed to make the system more flexible, will come into force from Monday 2 September. Regulations giving effect to the Employment Permits Act were ...
Consumer confidence falls slightly in August
Consumer confidence dropped slightly in August, according to the latest Credit Union consumer sentiment index. Concerns about household finances in the months ahead and a renewed nervousness about ...
Average weekly earnings up 5.6% in second quarter – CSO
Preliminary figures from the Central Statistics Office show that average weekly earnings for the second quarter of 2024 reached €963.17, an increase of 5.6% or €51.43 compared with ...
Domestic electricity bills to rise by up to €100 a year to cover network charges
Household electricity bills could be set to rise by up to €8.42 a month over the coming year. The increase is the result of the energy regulator setting ...
First time buyers continue to drive mortgage approvals
Just over 5,300 mortgages were approved in July, the latest figures from Banking and Payments Federation Ireland show. First time buyers continue to drive the bulk of the ...
Darkening global outlook, central banks’ pivots signal more turbulence
Growing signs of lacklustre growth and risks emerging to the job market overshadowed a gathering of global policymakers at the US Federal Reserve’s annual Jackson Hole conference, highlighting ...
Over 40% of workers did not use full holiday entitlements last year – survey
More than four out of ten people did not make full use of their full holiday entitlements last year, according to new research on annual leave. The survey ...
Some mortgage holders with non-bank lenders to face big rate hikes this year
Thousands of mortgage holders who have their loans with non-bank lenders could be set to be see their mortgage rates leap by as much as 3.5 percentage points ...
Employment rate rises, female participation at record high
The employment rate in Ireland has increased almost 3% to over 74%, while female participation is at a record high. New figures from the Central Statistics Office show ...
ECB has room for gradual rate cuts, Kazaks says
The European Central Bank has room to cut interest rates possibly two more times this year as inflation remains broadly on the declining path policymakers envisaged, ECB policymaker ...
Third of firms put money aside to pay cyber ransoms
Almost a third of businesses in Ireland have money put aside to pay for ransoms arising from ransomware attacks, a new survey has found. Half of the firms ...
Third level education costs double in five years research finds
Parents of young adults attending third-level expect it will cost them €9,511 this year, when in reality if the student is living in rented accommodation they will need ...
Euro zone August business activity surprisingly strong
Euro zone business activity showed surprising strength in August despite firms raising prices, a survey showed, potentially weakening expectations for two more rate cuts from the European Central ...
Economy moderating after years of rapid expansion
Rising global trade tensions and direct competition for Foreign Direct Investment from large economies is already challenging Ireland’s growth potential. This is according to business group, Ibec, which ...
Fresh delay to decision on Dublin airport passenger cap
The planning application by Dublin airport operator, daa, to raise the current 32 million passenger a year cap at Dublin airport to 40 million passengers has been hit ...
Gas generates 45% of electricity in July, demand rises
Demand for gas increased by almost 6% in July when compared to the previous month, new data shows. The report from Gas Networks Ireland shows that demand was ...
Microbusinesses facing profitability pressures – survey
Microbusinesses with three or less employees are under severe pressure, particularly when it comes to profitability, a new survey has found. Three out of every 10 are not ...
Grocery price inflation picks up again
Grocery price inflation has picked up for the second month in a row, according to the latest figures from Kantar. Prices were 2.8% higher in the 12 weeks ...
ECB may need to cut rates again in September, Rehn says
The European Central Bank may need to cut interest rates again in September given persistent economic weakness, Finnish central bank chief Olli Rehn has said. The ECB was ...
Mortgages make up 10% of credit union loan book
Mortgage lending at credit unions increased by 10% to €518 million in the three months to the end of June. That’s according to the latest quarterly results from ...
Hospitality was the sector with the biggest employment drop in June – CSO
The sector that recorded the largest decrease in employment in June was accommodation and food services, new data from the Central Statistics Office (CSO) shows. Amid claims from ...
Goldman Sachs lowers odds of US recession to 20% from 25%
Goldman Sachs has lowered the odds of the United States slipping into a recession in the next 12 months to 20% from 25% following the latest weekly jobless ...
Fuel sector seeks action on high petrol and diesel prices
The proportion of the price of diesel accounted for by tax will hit 54% following an expected increase in the carbon tax in October’s budget. This will put ...
ISME warns no justification for €1 rise in minimum wage
The small and medium sized business organisation ISME has said there would be no justification for a further increase in the national minimum wage of €1 in the ...
Oil prices set for weekly gains on renewed enthusiasm around US economy
Oil prices were set for a second straight week of gains despite edging lower today, as recent US economic data boosted optimism over demand from the world’s top ...
Population growth exceeds new home delivery by almost 4 to 1
The growth in the Irish population between 2015 and 2023 exceeded the delivery of new homes by a ratio of nearly four to one, new research by property ...
Residential property prices rise 8.6% over year to June – CSO
Residential property prices rose by 8.6% nationally in the year to the end of June, new data from the Central Statistics Office shows. It is the highest rate ...
Oil prices up on hopes of US rate cuts boosting fuel demand
Oil prices rose today, supported by optimism that potential US interest rate cuts will boost economic activity and fuel consumption though concerns over slower global demand curbed gains. ...
€250m allocated to new round of Seed and Venture Capital Scheme
€250m has been allocated to a new round of the Government’s Seed and Venture Capital Scheme. The fund will run for four years from 2025 and will be ...
New EV sales fall 24% in first seven months of 2024
New electric car sales dropped 24% between January and July when compared to the same period last year, new data shows. The figures from the Central Statistics Office ...
Oil prices pause after five-day winning streak
Oil prices dipped today after five straight sessions of gains as OPEC’s move to cut its forecast for demand growth in 2024 tempered fears of supply risks posed ...
Property prices on course for 4.5% growth – estate agents
Estate agents expect property prices nationally to increase by an average of 4.5% over the next 12 months. That is up from an expectation of growth in prices ...
NAMA pays €1.1m in redundancy as it winds down operations
The National Asset Management Agency paid out around €1.5 million last year in redundancy and garden leave payments as it continued to wind down its operations. The State’s ...
Hotel and cinema trips drive higher spending in July
Spending in July jumped 7% on the previous month and 4% on the same time last year, new data from AIB shows. Spend in hotels was up 7% ...
Oil retreats as markets refocus on demand concerns
Oil prices edged lower today, breaking a five-day streak of gains, as markets refocused on concerns about demand after OPEC on Monday cut its forecast for demand growth ...
Oil extends gains for fifth session
Oil prices rose for a fifth consecutive session today, extending gains from last week’s more than 3% rise, as US. recession fears eased while geopolitical tensions in the ...
Third best July on record for wind generation in Ireland
Last month was the third best July on record for wind generation in Ireland, a new report shows. The data from Wind Energy Ireland shows that power generation ...
Stabilisation in construction activity; signs of momentum ahead
There are renewed signs of momentum in the construction sector, the latest Purchasing Managers’ Index from BNP Paribas Real Estate Ireland indicates. Although activity in the sector registered ...
Construction industry calls for ‘expansionary’ Budget
One third of companies surveyed in the latest Construction Industry Federation’s Construction Outlook Survey reported an annual increase in turnover during the second quarter of 2024. 30% of ...
Drawdown of car loans hits record high in first quarter
Strong demand for cars helped drive volumes in the personal loans market during the first three months of the year. New data released by the Banking and Payments ...
Higher VAT rate for hospitality to remain – Minister
The Minister for Public Expenditure and Reform has said the higher VAT rate for hospitality will remain, despite claims by the Restaurants Association of Ireland that hundreds of ...
Annual inflation flat at 2.2% in July – CSO
The annual rate of inflation came in at 2.2% in July, new figures from the Central Statistics Office show today, unchanged from a month earlier. The CSO said ...
Number of private residential landlords up 7% to 103,000, new RTB data shows
The number of private registered landlords renting homes to tenants in Ireland rose by almost 7% to 103,035 between the middle of last year and March of this ...
Concern over lack of properties to rent under HAP scheme
A total of 43 properties within the discretionary rate of the Housing Assistance Payment were available to rent in June this year, according to the latest quarterly Simon ...
Tax receipts to end of July up nearly 10% on same period last year
The amount of tax collected by the State between January and the end of July was up 9.5% on the same period last year, driven by income tax, ...
IFAC says Exchequer figures show strong economy but risks remain
The amount of tax collected by the State during the first seven months of the year was up 9.5% on the same period last year, driven by income ...
31,384 new residential addresses recorded in year to June
A total of 31,384 new residential addresses were recorded over the year to June. GeoDirectory, which records the data, said this represents a 17.1% increase on the same ...
Tokyo’s Nikkei index closes up 10.2% after previous day’s record fall
Tokyo’s key Nikkei index closed more than 10% higher today, bouncing back from a record selloff the previous day on worries over the US economy and a stronger ...
Stocks sink with bond yield and dollar on recession fears
Global equities suffered heavy losses today as Wall Street joined a global stock rout that started in Japan while the dollar tumbled against the yen and US Treasury ...
Services growth moderates slightly, outlook brightens, PMI show
Service sector growth moderated slightly for the second successive month in July, but a pick up in new business, the year-ahead outlook and jobs growth pointed to positive ...
Fed holds rates steady, nods to possible September cut
The Federal Reserve held interest rates steady this evening but opened the door to reducing borrowing costs as soon as its next meeting in September as inflation continues ...
Parent’s Leave and Parent’s Benefit extended from today
From today, Parent’s Leave and Parent’s Benefit will be extended from seven weeks to nine weeks. The measures were announced as part of Budget 2024. Parents will be ...
Activity in manufacturing sector improves slightly
Activity in the manufacturing sector improved slightly in July, according to new data. The latest AIB Manufacturing PMI shows that the marginal improvement in the sector was driven ...
Call on Govt to assist parents with back-to-school costs
Children’s charity Barnardos has called on the Government to introduce a suite of measures to assist parents with back-to-school costs. They include a voluntary contribution code of practice, ...
Developer loan approvals by State-backed HBFI pass €2bn threshold
Almost €400m in new lending for the construction of new homes was approved by the State’s building finance body in the first half of 2024. That will go ...
Plan to transform rail on island of Ireland to be published
A plan to transform the rail system on the island of Ireland through electrification, additional track capacity, increased speeds and more frequent services is to be published. The ...
Annual rate of inflation steady at 1.5% in July – CSO flash reading
The latest “flash” estimate of inflation from the Central Statistics Office shows that the annual rate came in at 1.5% in the year to July, unchanged from a ...
Increase in number of workers who can’t afford a holiday – study
There has been an increase in the number of workers in Ireland who cannot afford a week’s holiday away from home, either in their own country or abroad, ...
Increase in job vacancies in second quarter – study
There was a 14.4% increase in professional job openings in the second quarter of the year compared to the previous quarter, according to new data. The latest Quarterly ...
Economy as measured by GDP grew by 1.2% in second quarter
The economy as measured by Gross Domestic Product (GDP) grew by 1.2% between April and June when compared to the previous three months. That is according to an ...
79% of FDI decision-makers planning Irish investment
Nearly 80% of foreign direct investment decision-makers are planning to establish or expand operations in Ireland over the next year. That is according to the latest EY Attractiveness ...
Mortgage drawdowns rise 2.2%, approvals continue to fall
The number of mortgage drawdowns by first time buyers reached the highest level since 2007 between April and June, new data shows. The latest figures from Banking and ...
Consumer sentiment hits 2 1/2 year high in July
The consumer mood has risen to its highest level in two and a half years, according to the latest Credit Union consumer sentiment index. Easing cost-of-living concerns and ...
Vessels at main Irish ports down 5% in first quarter – CSO
New figures from the Central Statistics Office show that Irish ports handled 12.1 million tonnes of goods in the first quarter of this year, an increase of 2% ...
Commercial construction cost inflation flat in first half
Commercial construction inflation was 1.5% in the first half of the year, the same rate as the six months before that. It means that the annual median national ...
Govt must do more to ensure Ireland remains competitive, watchdog warns
Ireland’s competitiveness watchdog has warned that the Government needs to do more to address significant longstanding challenges to securing the country’s ability to remain competitive into the medium ...
Banks under pressure to improve deposit rates
Pressure was coming to bear on the banks this time last year to offer better returns to depositors against the backdrop of rising interest rates. They did respond ...
Number of homes bought by non-household entities falls by almost 10% last year
New figures from the Central Statistics Office show that non-household entities bought a total of 12,201 homes at market prices last year, a decrease of 9.8% on the ...
9% VAT rate for tourism and hospitality unjustified according to Department of Finance
The Department of Finance believes reinstating the 9% VAT rate for tourism and hospitality businesses remains “unjustified”. In a report on VAT, the department’s Tax Strategy Group said ...
Indexing personal tax system would cost €1 billion a year, strategy paper shows
Indexing the entire personal tax system to ensure workers’ rising wages are not eroded by an additional tax burden could cost the exchequer over €1 billion a year. ...
Euro zone business growth stalls in July, PMIs show
Growth in euro zone business activity stalled this month as a tepid expansion in the bloc’s dominant services industry failed to offset a deeper downturn among manufacturers, a ...
Revenue fixes problems with online tax return form
Revenue has told accountants and self-assessed taxpayers that it has fixed problems with its online tax return form that were creating difficulties for those filing, but that it ...
Grocery price inflation edges up in July after 15 months of falls
Grocery inflation in the 12 weeks to July 7 saw a marginal gain after falling for 15 months in a row, new figures from Kantar show today. Grocery ...
ECB’s de Guindos says new data to help reassess monetary policy stance in September
European Central Bank vice-president Luis de Guindos hinted at a possible interest rate cut in September, singling out the ECB’s new projections as the “most important” factor in ...
ISIF announces €229m of investments to accelerate delivery of new homes
The Ireland Strategic Investment Fund (ISIF), part of the National Treasury Management Agency (NTMA) has announced the completion of four investment commitments totalling €229m aimed at accelerating the ...
ECB’s Villeroy says market expectations for future ECB rate cuts ‘reasonable’
Market expectations for the path of future interest rate cuts by the European Central Bank are “rather reasonable,” ECB policymaker Francois Villeroy de Galhau said in an interview ...
Job vacancies steadied in second quarter of year
The number of job vacancies remained unchanged in the second quarter of 2024, the first time in two years there was no quarterly decline in vacancies. Hiring platform ...
Flights delayed and airports impacted by tech outages
Airports and airlines across Europe are experiencing technical issues as media companies, banks and telecom firms around the world also reported that system outages were disrupting their operations. ...
Over one million domestic holidays taken last year, up 8%
The domestic tourism market grew strongly in 2023 with over 14.3 million trips taken by Irish holidaymakers which generated €3.1 billion for the economy. New figures from Fáilte ...
ECB keeps rates unchanged, offers no guidance on next move
The European Central Bank kept interest rates unchanged as expected today, with its president Christine Lagarde saying a move in September was “wide open”. The ECB cut rates ...
ECB not expected to cut interest rates any further today
The Governing Council of the European Central Bank (ECB) is expected to leave interest rates unchanged when it meets later today. The likely pause follows the decision to ...
Property prices rise for 9th month in a row in May – CSO
The annual rate of increase in the price of homes around the country picked up further in pace in May, new data from the Central Statistics Office shows. ...
EU new car sales rise 4.3% in June
New car sales in the European Union rose 4.3% in June to their highest since July 2019, driven by an uptick in major markets Italy, Germany, and Spain, ...
IMF sees steady global growth, warns of slowing disinflation
The global economy is set for modest growth over the next two years amid cooling activity in the US, a bottoming-out in Europe and stronger consumption and exports ...
Just 15% of Irish firms ‘fully compliant’ with GDPR
Just 15% of businesses here say they are fully compliant with the European Union’s General Data Protection Regulation (GDPR) rules. A survey by Ipsos B&A, conducted on behalf ...
Rebound in Dublin office lettings, but vacancy still rising
There has been a strong rebound in Dublin office lettings, but a surge in supply in driving vacancy rates higher. New data from BNP Paribas Real Estate Ireland ...
Exports increase by 10% in first five months of 2024
New figures from the Central Statistics Office show that exports of goods increased by 10% to almost €91 billion in the first five months of this year, while ...
Regulator overseeing building construction to be set up
The Government is to establish a new regulator to oversee the construction of buildings. The Buildings Standards Regulatory Authority will have powers of inspection, enforcement and will have ...
Irish firms more upbeat than euro zone counterparts
Almost three quarters of Irish medium-sized companies are predicting a positive future, the latest International Business Report from Grant Thornton reveals, better than the euro zone average. The ...
Health Service Executive recruitment freeze ends today
A recruitment freeze at the Health Service Executive is to end today after it was introduced last October. Its termination was confirmed yesterday by HSE CEO Bernard Gloster. ...
GDP fell by more than previously estimated in 2023 – CSO
New figures from the Central Statistics Office show that the economy as measured by Gross Domestic Product (GDP) contracted last year by more than previously estimated. The revised ...
ECB to opt for summer pause after initial rate cut
The European Central Bank is expected to leave interest rates unchanged on Thursday, giving the euro zone time to digest last month’s first cut since 2019 as the ...
SMEs lost €10m through email-related scams last year
Small and medium sized businesses lost almost €10m through email-related scams last year. The number of cases reported by SMEs increased almost 25% when compared with 2022. The ...
Rooftop revolution – 100,000 solar panels connected in Ireland
Over 100,000 rooftop solar microgenerators have now been connected to Ireland’s electricity network, according to ESB Networks, cumulatively adding over 400MW of clean energy onto the power system. ...
Euro zone bond yields inch higher after inflation-driven drop
Euro zone bond yields edged higher after a sharp drop the previous day on the back of weaker-than-expected US inflation data. German 10-year bond yield, the benchmark for ...
National Enterprise Hub launched to support businesses
A new resource to help businesses access a range of government supports called the National Enterprise Hub has been launched today by Minister for Enterprise Peter Burke. The ...
‘Many more challenges’ facing Irish economy – Chambers
Minister for Finance Jack Chambers has pointed to “many more challenges facing our economy,” along with “threats” and “vulnerabilities present in our public finances”. Following turbulence in recent ...
Govt adopting ‘everything now’ approach to budget
The State’s fiscal watchdog has claimed that the Government is adopting an ‘everything now’ approach of current spending increases, tax cuts and increased investment for next year’s budget. ...
Year-on-year wage growth in Ireland rose to 4.3% in June
Year-on-year wage growth in Ireland was 4.3% in June, up slightly from the 4% to 4.1% range recorded since the start of this year, according to new research. ...
New enhanced unemployment benefit rules passed by Oireachtas
Planned new laws aimed at ensuring enhanced benefits for those with a strong work history who become unemployed have passed through the Oireachtas. Under the new rules, the ...
Additional €8.3bn funding for use in Budget 2025
The Government is to make €8.3 billion in additional funding available for use in Budget 2025, its last before the next general election. €1.4bn of that money is ...
Summer Economic Statement to outline size of Budget 2025
The Government will outline the size of the financial package for October’s budget later today, when it publishes the Summer Economic Statement. The document sets out the Government’s ...
UK to re-introduce mandatory housing targets
The UK’s finance minister has announced that she will re-introduce mandatory housing targets. In her first speech as Chancellor of the Exchequer, Rachel Reeves said that the new ...
Data availability an obstacle to sustainability reporting
The Government says a new EU law aimed at tackling greenwashing will strengthen the rules around the social and environmental information which companies have to report. The Corporate ...
Euro zone investor morale drops, breaking streak of gains in “setback”
Investor morale in the euro zone broke an eight-month streak of improvements with a bigger-than-expected decline in July, a survey showed today, describing the results as a “bitter ...
Total construction activity falls for second month in a row
Total construction activity fell for the second month in a row in June, new data shows. BNP Paribas Real Estate Total Construction PMI index fell to 47.5, from ...
Asking prices for homes rising at fastest rate in almost two years
Asking prices for homes across the country rose at the fastest rate in almost two years in the 12 months to the end of June, new data shows. ...
ECB accounts show some worries about stalling disinflation
Some European Central Bank policymakers felt uneasy about recent inflation developments when they cut interest rates last month and feared that any further delay in reaching the target ...
Makhlouf urges Government to stick to its own 5% spending increase rule in Budget 2025
The Governor of the Central Bank has urged the Government to stick to its own rule limiting the overall annual increase in spending to 5% in the upcoming ...
Harris meets banks over mortgage interest rates
The Taoiseach has told the banks he wants people to feel the benefits of reduced monthly mortgage repayments as quickly as possible as interest rates begin to fall. ...
Tax take for first half of year up 9%, exchequer figures show
The State took in a total of €44.7 billion in tax in the first six months of the year, up more than 9% on the same period last ...
Budget 2025 to be brought forward to 1 October – Chambers
Budget 2025 is to be brought forward one week to Tuesday 1 October, Minister for Finance Jack Chambers has said. Speaking on RTÉ’s Morning Ireland, Mr Chambers said ...
Service sector growth moderates, input costs fall sharply
Growth in the country’s service sector moderated slightly in June, bringing jobs growth to a near standstill but a sharp drop in input costs offered welcome relief to ...
Bank of Ireland revises GDP outlook, but expects healthy growth
Bank of Ireland has downgraded its outlook for growth in Gross Domestic Product (GDP) to 1% this year and 3.9% in 2025. The bank had previously guided GDP ...
Govt to draft law to dissolve NAMA and wind up IBRC
The Government has given the go-ahead for the drafting of legislation to complete the dissolution of the National Asset Management Agency (NAMA) and the winding up of the ...
Up to 53,000 new dwellings needed per year to cater for population growth – ESRI
A new report from the ESRI shows that 35,000 to 53,000 new dwellings will be needed annually based on projected population growth scenarios. The report looks at forecasts ...
Motor insurance costs rose slightly in first half of 2023
Average motor insurance premiums rose marginally in the first half of last year, compared to the year before, new data from the Central Bank has shown. Premiums increased ...
Annual inflation slows to three-year low of 1.5% – flash CSO data
The annual rate of inflation rose at the slowest rate in more than three years in June, increasing by 1.5% year-on-year compared to a rate of 2% in ...
Fall in number of mortgages approved in May
New figures from Banking and Payments Federation Ireland show there was a fall in the number of mortgages approved by Ireland’s main banks in May compared to the ...
67% of people say buying first home more challenging than ever
New research commissioned by life insurance and pensions firm Royal London Ireland has found that 67% of Irish people say that it is more difficult than ever to ...
Sharpest fall in manufacturing activity in almost a year
June marked the sharpest decline in activity in the manufacturing sector in eleven months, according to the latest Purchasing Managers’ Index published by AIB. The headline index fell ...
Irish household deposits rose by €1.1bn in May
Irish household savings rose by €1.1 billion in May when compared to April, according to data published by the European Central Bank. The increase comes on the back ...
Fall in number of mortgages approved in May – BPFI
New figures from Banking and Payments Federation Ireland show there was a fall in the number of mortgages approved by Ireland’s main banks in May compared to the ...
Strong increase in June sentiment survey suggests Irish consumers sense brighter days ahead
The consumer mood improved this month, according to the latest Credit Union Consumer Sentiment Survey, on the back of lower fuel costs and an ECB rate cut. The ...
Annual second-hand home prices up by 5.5%
New figures from estate agent Sherry FitzGerald show that the average value of second-hand homes in Ireland saw a 1.8% increase in the second quarter of 2023. Sherry ...
Insolvencies up 25% in first half of the year
The number of insolvencies here was 25% higher in the first six months of the year than it was in the same period of 2023, according to two ...
Workers’ incomes set to rise this year and next as wages rise and inflation falls – ESRI
Workers in Ireland should see their incomes rise in real terms both this year and next, due to falling inflation and ongoing increases in wages. The Economic and ...
14% of companies using AI to evaluate job applications
14% of companies are using artificial intelligence to evaluate job applications, new data shows. This includes scanning CVs or scoring job candidates to help filter and identify the ...
McGrath nominated as Ireland’s next European Commissioner
Minister for Finance Michael McGrath has been nominated as Ireland’s next European Commissioner. The move was agreed by Government party leaders last night before being formally approved by ...
New Minister for Finance to be formally appointed in Dáil
The new Minister of Finance Jack Chambers will be formally appointed this afternoon. The Dublin West TD will succeed Michael McGrath, who has been nominated as Ireland’s next ...
Grocery inflation slows again to reach 2.5%
New figures from Kantar show that grocery inflation stood at 2.5% in the 12 weeks to June 9 – the lowest level of grocery inflation since March 2022 ...
HSA carried out 10,000 workplace inspections last year
The Health and Safety Authority carried out almost 10,000 proactive workplace inspections last year, according to the authority’s annual report. The HSA conducted 83 investigations into fatal accidents, ...
Annual age related Govt spending to rise by €16bn by 2050
Annual Government spending that is dependent on age will be €16bn higher by 2050 than it is today because of Ireland’s ageing population, new research has found. The ...
8 out of 10 employees have used AI in the workplace – survey
Eight out of ten employees have used artificial intelligence in the workplace, according to a new survey. The FRS Recruitment Employment Insights Report shows that almost half of ...
Caution urged over copper broadband switch-off
There are calls for careful planning around the switch-off of Ireland’s old copper broadband network amid warnings that many devices are still reliant on the system. Broadband network ...
Prices sought for homes are up 6.7% in the second quarter – Daft
Prices sought for homes across the country rose by an average of 3.8% between April and June when compared to the previous quarter, new data from property listings ...
Ireland slips two places to fourth in world competitiveness rankings
Ireland has dropped two places from last year in a key measure of international competitiveness. The country was ranked fourth of 67 economies examined by the Institute of ...
Irish prices second highest in EU last year
Prices paid by Irish consumers were the second highest in the EU last year, according to new official data. Irish prices were 42% higher than the EU average, ...
Increased labour needed to drive construction output
An increase in labour capacity in the construction sector may be needed if the number of houses that work has begun on this year are to be delivered. ...
NAMA on track to wind down by the end of 2025
The National Asset Management Agency remains on track to wind down completely by the end of next year. But the Minister for Finance Michael McGrath has confirmed that ...
6.3 million foreign visitors came to Ireland last year – CSO
New figures from the Central Statistics Office show that 6.3 million foreign visitors departed Ireland on overseas routes in 2023. Overall, the visitors spent €7.3 billion on their ...
Retailers urged to prepare now for online Christmas shopping – An Post
Is it too early for Irish retailers to start preparing for Christmas? Not according to An Post. It has published its first eCommerce Index which shows that 95% ...
ECB set to cut rates in September and December – poll
The European Central Bank will cut its deposit rate twice more this year, in September and December, according to a significant majority of economists polled by Reuters who ...
Dublin fourth most expensive city in Europe to build – survey
Dublin is the fourth most expensive city in Europe to build, a new survey shows today, while it also makes it into the top 25 most expensive places ...
Oil prices stable as demand uncertainty persists
Oil prices were stable today, as traders awaited signs of a hoped-for summer demand boost to prop up prices even as strong supply threatens to blunt gains. Benchmark ...
Central Bank lowers growth forecast for domestic economy
The Central Bank has reduced its forecasts for economic growth this year. In its latest Quarterly Bulletin, the bank predicts that Modified Domestic Demand will expand by 2.1% ...
IMF calls for stronger social safety net to ‘broaden’ gains from AI
Fiscal policy has a “major role to play” in broadening the financial gains from generative AI technology and preventing a spike in wealth inequality, the IMF today. Left ...
ECB’s Lane confident euro zone inflation will hit 2% in 2025
The European Central Bank’s chief economist said today he remained confident inflation will fall back to the ECB’s 2% target in 2025 after four years of unusually brisk ...
Dublin ranked 41st most expensive city for international workers
Dublin ranks as the 41st most expensive city in the world for international employees, the 2024 Cost of Living City Ranking survey from Mercer shows, ten places higher ...
Services inflation needs to come down this year – ECB’s Lane
The European Central Bank needs to see momentum in services inflation come down this year in order to confirm its disinflation narrative, the ECB’s chief economist said today, ...
Almost 50% would refuse job offer with no remote work option – survey
Nearly half of Irish jobseekers would refuse a job offer if there were no hybrid or fully remote working options offered, according to new research from The Stepstone ...
Household savings rate increases to 14.7%
The savings rate among households increased to 14.7% between January and March. New data from the Central Statistics Offices shows that households saved €8.1bn during the three month ...
Consumer prices rose by 2.6% over the 12 months to May
Consumer prices for goods and services rose by 2.6% over the 12 months to May. The figures from the Central Statistics Office show that when energy and unprocessed ...
Consumer behaviour shifting due to rising costs
Cost of living pressures continue to top the agenda for consumers, new data shows. The latest Future Consumer Index from EY tracks changing consumer sentiment and behaviours right ...
New EV sales down 20% so far this year, CSO data shows
The number of new electric cars sold in the first five months of the year dropped by 20% compared with the same time last year, new data shows. ...
Oil slips on US growth worries, ample crude supply
Oil prices fell in early trade today, as investors digested that the US Federal Reserve had likely pushed back a possible interest rate cut to December, while ample ...
Fed leaves rates unchanged, sees only one 2024 cut despite inflation progress
The Federal Reserve held interest rates steady yesterday and pushed out the start of rate cuts to perhaps as late as December as policymakers sketched out their view ...
US inflation down slightly ahead of latest Fed decision
US consumer inflation ticked lower last month, according to US government data, giving the US Federal Reserve positive news shortly before it publishes its latest interest rate decision. ...
Increase to poverty rates from pension reforms – ESRI
Government plans to increase Pay Related Social Insurance (PRSI) to fund the State pension will lead to a slight increase in poverty rates, particularly the child poverty rate, ...
Irish mortgage rates drop slightly in April, Central Bank data shows
Irish mortgage rates dropped slightly in April, new data from the Central Bank of Ireland shows. The average interest rate on a new mortgage was 4.24%, down 0.07 ...
Live Register figures ease by 0.3% in May, CSO data shows
New figures from the Central Statistics Office show that the seasonally adjusted Live Register total fell by 0.3% to 173,200 people in May when compared to the previous ...
SCSI calls for increase in building control inspections
Ireland’s approach to the enforcement of building regulations requires a cultural shift, according to the new President of the Society of Chartered Surveyors. Kevin Hollingsworth called for a ...
Oil edges down as cautious investors await Fed meet, US CPI data
Oil prices traded lower today, as investors waited for key US and China CPI data as well as the outcome of the Federal Reserve’s policy meeting to glean ...
Euro falls in warning sign for markets after Macron calls snap France vote
The euro fell sharply today, hit by political uncertainty after gains by the far-right in voting for the European Parliament on Sunday prompted a bruised French President Emmanuel ...
Increases in construction activity continued in May – BNP Paribas
Housing commencements remain on an upward trend, according to BNP Paribas Real Estate Ireland, with continued increases in construction activity across key residential segments. The construction activity index ...
World food prices rise for third straight month in May, UN says
The United Nations world food price index rose for a third consecutive month in May, as higher cereals and dairy product prices outweighed drops in prices for sugar ...
Unemployment rate steady in May at 4%, CSO data shows
New figures from the Central Statistics Office show that the unemployment rate for May was 4%, unchanged from the previous month. On an annual basis, the seasonally adjusted ...
ECB policymakers warn about inflation challenge
European Central Bank policymakers warned today that the final stage of pushing inflation down to 2% could be especially hard but said they were confident that policy was ...
45% say their 60s will be the costliest decade of retirement
Almost half of people in Ireland expect their 60s to be the most expensive time of their retirement, new data shows. The survey carried out by Royal London ...
ECB interest rate cut expected, after hikes since 2022
The European Central Bank (ECB) is expected to agree a quarter of a percent cut in interest rates at its meeting in Frankfurt. It will come after ten ...
Pace of growth in service sector accelerates in May
The pace of growth in the service sector accelerated in May, new data shows. The latest AIB Purchasing Managers’ Index (PMI) reveals that the index increased from 53.3 ...
Higher annual housing targets expected after budget
New annual housing targets that will be significantly higher than the current figures are set to be published after the Budget in October. The figures will consider new ...
Housing Minister to seek approval to expand home loan scheme
Minister for Housing Darragh O’Brien will seek Government approval to expand the local authority home loan for first-time buyers. The loan is currently only available for homes that ...
Euro zone business activity expands at fastest rate in a year, PMI shows
Euro zone business activity expanded at its quickest rate in a year in May as growth in the bloc’s dominant services industry outpaced contraction in manufacturing, according to ...
Manufacturing activity stable in May, PMI shows
The country’s manufacturing sector steadied last month after contracting in April although demand remained subdued, a survey showed today. The AIB S&P Global manufacturing Purchasing Managers’ Index (PMI) ...
CSO marks 75 years of counting the Irish economy
The Central Statistics Office is today marking 75 years since it was first established in 1949. The CSO was established to gather, analyse and publish independent statistics and ...
Customers cutting costs but still value quality – survey
A new survey from KPMG highlights the challenge retailers and brands face in balancing price competitiveness and quality. Its latest Next Gen Retail Survey found that the majority ...
Economic growth set to moderate but remain robust in coming years
The Irish economy is expected to continue expanding at a robust pace in the coming years, according to a new report from AIB. However, it states that this ...
Annual inflation increases to 1.9% in May from 1.6% in April – flash CSO data
The annual rate of inflation increased to 1.9% in May, up from 1.6% in April, a flash estimate of the Harmonised Index of Consumer Prices (HICP) from the ...
Central Bank recorded a €132m loss in 2023
The Central Bank made a loss of €132.1m last year, as a result of monetary policy decisions taken across the euro area to bring inflation down. Its Governor ...
Tech companies call for introduction of AI regulations
Major technology companies have called on politicians to regulate artificial intelligence. Appearing before TDs and senators on the Oireachtas Enterprise Committee, representatives from Amazon, Google and Microsoft spoke ...
Average weekly earnings up 4.7% in first quarter of 2024 – CSO
New figures from the Central Statistics Office show that average weekly earnings rose by 4.7% to stand at €969.12 in the first quarter of this year compared to ...
€100m stolen through frauds and scams in Ireland in 2023
Almost €100m was stolen by fraudsters through frauds and scams last year, new data shows. That represents an increase of 16% on the previous year, according to FraudSMART ...
ECB to focus on quarterly meetings with slow, gradual rate cuts – Knot
The European Central Bank can gradually reduce interest rates given the decline in inflation, and decisions on future cuts could centre around quarterly meetings with new economic projections, ...
Retail sales dip by 1.2% in April from March – CSO
New figures from the Central Statistics Office show that retail sales fell by 1.2% on a monthly basis in April to stand 0.9% lower than a year earlier. ...
Cross border tourism triples in last decade, report shows
The tourism industry across the island of Ireland is worth almost €17 billion to the economy, and supports 300,000 jobs, new data shows. The report from Ulster University ...
Credit union lending up almost 14%, driven by mortgages
Lending at credit unions increased by almost 14% in the past year, driven by a significant rise in mortgage lending. That is according to figures from the Irish ...
Over two thirds of firms concerned about pension auto-enrolment
A new report has found that over two thirds of businesses are concerned about the introduction of pension auto-enrolment. The research by Aon found that more than a ...
Cost-of-living measures ‘must be a focus’ of Budget 2025 – Harris
Cost-of-living measures “must once again be a focus” for Budget 2025, Taoiseach Simon Harris has said. Mr Harris made the comments during an address at the National Economic ...
ECB’s Lane says ready to start cutting interest rates
The European Central Bank is ready to cut interest rates next month but policy must continue to be restrictive this year as wage growth will not normalise until ...
Lack of funding the main barrier to innovation by firms
60% of Irish based businesses say a lack of funding is the main barrier they face when it comes to increasing their innovation levels, new research has found. ...
Grocery price inflation falls to 2.6% in May from 13.3% last year
New figures from Kantar show that grocery inflation stood at 2.6% in the 12 weeks to May 12, down from 13.3% the same time last year and the ...
EU critical materials rules could lead to new Irish mines
New EU rules have come into effect aimed at ensuring the union has access to a secure and sustainable supply of critical raw materials. The Critical Raw Materials ...
Lowest rate of annual increase in employment in three years – CSO
The number of people in employment in the first quarter of the year stood at 2.7 million, a rise of 1.9% or 51,500, compared to a year ago. ...
Mortgage approvals up again in April driven by first time buyers
New mortgage approvals rose again by both value and volume in April, driven by continued strong demand from first time buyers. The Banking & Payments Federation Ireland (BPFI) ...
ECB can start cuts before Fed, says Finnish bank governor Rehn
The European Central Bank did not have to take its cues from the US Federal Reserve and could start to lower rates as soon as June, Bank of ...
Revenue issues new guidance on employment status
Revenue has published new guidance on determining the employment status of workers for tax purposes. It follows a recent Supreme Court judgement relating to Domino’s Pizza delivery drivers. ...
Annual wholesale electricity prices fell by almost 30% in April – CSO
Wholesale electricity prices – the prices that suppliers pay to generators – fell nearly 30% in the 12 months to April, the latest Central Statistics Office figures show. ...
Europe sets benchmark for rest of the world with landmark AI laws
Europe’s landmark rules on artificial intelligence will enter into force next month after EU countries today endorsed a political deal reached in December, setting a potential global benchmark ...
UK inflation falls less than expected, dashing June rate cut hopes
Inflation in Britain fell by less than expected in April and a key core measure barely dropped, prompting investors to pull bets on a rate cut next month ...
EU new car sales jump 13.7% in April, industry body says
New car sales in the European Union rose 13.7% in April on the year for their biggest jump since last October, Europe’s auto industry body said today, after ...
Revenue reminds employers of enhanced reporting obligations
Revenue has issued notices to 115,000 employers reminding them of their obligations under the Enhanced Reporting Requirements (ERR) scheme. Since January 1st, employers who provide the remote working ...
Budget will widen gap between better off, those on low incomes – survey
A new analysis of Budget 2024 has warned that it will widen further the gap between the better off and those on the lowest welfare and work incomes. ...
Most food and drink companies positive about future
Irish food and drinks companies are generally positive about the future, despite issues with inflation, input costs and labour availability. That is according to a survey of over ...
Pace of rise in advertised rents slowed in first quarter
Advertised rents rose by just 0.6% between January and the end of March, new data from the property listings website Daft.ie shows. It meant that average rent sought ...
Inaugural Global Economic Summit to open in Co Kerry
More than 400 leaders from politics, business, economics and civic life are gathering in Killarney, Co Kerry over the next three days for the inaugural Global Economic Summit. ...
Fuel prices see slight fluctuation in May
New figures from AA Ireland show a a slight fluctuation in petrol and diesel prices over the last few weeks after a sharp increase in April. The AA ...
FSU conference to discuss pay, AI and surveillance
Pay increases, the rise of artificial intelligence and staff surveillance are among the topics to be discussed at the triennial conference of the Financial Services Union (FSU) which ...
Economic benefits at risk from data centre uncertainty – DII
Failure to address the policy constraints around data centres in Ireland will put the country at risk of missing economic benefits of next generation technologies, an industry body ...
Exports rise by €2.3 billion in first quarter of 2024 – CSO
New figures from the Central Statistics Office show that Ireland’s unadjusted exports of goods increased by €2.3 billion to €53.2 billion in the first quarter of this year ...
Home prices increased by 7.3% in March amid tight supply
New figures from the Central Statistics Office show that residential property prices grew by 7.3% on an annual basis in March. This marked the fastest rate of increase ...
Over €12bn spent using mobile wallets in past year
Over €12 billion was spent using mobile wallets such as Apple Pay and Google pay in the 12 months to March, new data shows. The figures from Banking ...
Public sector workers call for higher starting salaries
Public sector workers will today call for an increase in starting salaries amid claims that pay for new entrants is far too low. The issue will be debated ...
PTSB cuts mortgage rates for the third time this year
Having eased considerably last year, fuel forecourt prices are on the rise once again. In the space of a month average fuel prices have risen by 10-13.5%, according ...
Irish economy forecast to grow by 1.2% this year – EU
The European Commission has maintained its expectations for the performance of the Irish economy this year with a predicted GDP growth rate of 1.2%. In its Spring 2024 ...
Oil slips on signs of weak fuel demand, strong dollar
Oil prices extended declines today amid signs of weak fuel demand and as comments from US Federal Reserve officials dampened hopes of interest rate cuts, which could slow ...
42% of Ireland’s electricity powered by gas in April – Gas Networks Ireland
Gas generated 42% of Ireland’s electricity in April, new figures from Gas Network Ireland show today. After a notably windy period in February and March, gas was the ...
Revenue issues demands to 11,700 firms over warehoused debt
Almost 90% of the €1.65 billion debt which was still warehoused at the start of last month has been repaid or is in the process of being repaid, ...
UK exits recession with better-than-expected 0.6% GDP growth
Britain’s economy grew by the most in nearly in three years in the first quarter of 2024, ending the shallow recession it entered in the second half of ...
90% jump in ‘green’ loan drawdowns last year
The number of green loans drawn down last year jumped over 90% when compared to 2022, new data shows. A green loan includes green car or auto finance ...
Half of adults happy with current State pension age of 66
One in every four adults would choose to take the State pension six years earlier, even if it meant they received €60 less a week from it, new ...
Irish mortgage rates see third monthly increase in a row
The average interest rate on a new mortgage in Ireland rose for the third month in a row in March to reach the highest level since 2017, new ...
Inflation rate slows to 2.6% in April from 2.9% in March – CSO
Inflation in Ireland rose by 2.6% in the 12 months to April, according to the latest figures from the Central Statistics Office, down from the rate of 2.9% ...
Just 13% of prospective homebuyers think over the next year a good time to buy
Almost 80% of prospective homebuyers are worried about the state of the property market, new data shows. The consumer sentiment research from property website MyHome.ie reveals that just ...
PTSB reports 10% increase in Q1 net interest income
PTSB said today it had recorded a strong financial performance in the first quarter of 2024, including an increase in net interest income and a doubling of business ...
Over 70% of businesses plan to increase staff salaries in 2024
Over 70% of businesses expect to increase salaries this year, while 40% plan to hire more staff, new data shows. The latest KPMG Enterprise Barometer reveals overall optimism ...
Scammers re-target investment fraud victims promising to recover money
The banking industry is warning people who have previously fallen victim to investment fraud about new scams where the fraudsters are promising to recover their lost money. The ...
Private healthcare – a boom area for investment?
Private healthcare has come under the spotlight of late with the sale of the Beacon Hospital in Dublin and the planned move by Aviva back into the health ...
Public-private pay differential ranged from 0.9% to – 6.6% in 2022
New figures from the Central Statistics Office show that the public-private pay differential on average ranged from 0.9% to a decrease of 6.6% in 2022. The CSO said ...
Smurfit Kappa posts 16% drop in first quarter profit
Smurfit Kappa shares rose this morning after its first quarter core profit fell sharply year-on-year but was higher than the final quarter of 2023 when it had signalled ...
AIB’s first quarter income up by 18% due to higher interest rates
AIB said its total income increased by 18% in the first quarter of the year on the back of the higher interest rate environment and after what it ...
Glenveagh Properties set to build over 2,700 homes this year
Homebuilder Glenveagh Properties said its forward order book now stand at €963m, up from €805m at the end of February. In a trading statement issued ahead of the ...
Manufacturing activity deteriorates amid fall in new orders
Activity in the manufacturing sector deteriorated again in April, new data shows. The latest AIB Purchasing Managers Index shows that the fall last month was the sharpest rate ...
Trade unions to mark International Workers’ Day with Dublin event
Trade unions will mark May Day today which is celebrated as International Workers’ Day. A rally and march will be held this evening at the Garden of Remembrance ...
New targets for female representation at senior levels
Balance for Better Business (B4BB), an independent review group established by the Government, has today launched a new strategy, targets and roadmap to improve gender balance at board ...
Bank of Ireland raises net interest income guidance on fewer rate cuts
Bank of Ireland has today lifted its net interest income guidance for 2024 to reflect its revised expectations that there will be one fewer round of central bank ...
Euro zone grows more than expected in Q1 after recession
The euro zone economy grew by more than expected in the first quarter of 2024, buoyed by a return to growth for Germany and strong expansion in Spain, ...
Inflation rate slows to 1.6% in year to April – flash CSO reading
The latest “flash” estimate of inflation from the Central Statistics Office shows that the annual rate slowed to 1.6% in the year to April from a rate of ...
Claims related to uninsured drivers rose 11% last year – MIBI
The number of claims related to accidents caused by drivers who were either uninsured or untraced rose 11% last year. The Motor Insurers’ Bureau of Ireland said 1,927 ...
Ireland’s first Trade Union Week gets under way
Ireland’s first Trade Union week begins today. It will see thousands of workers across the island taking part in events and activities over the next seven days. The ...
KBC Ireland to return banking licence to Central Bank
KBC Bank Ireland will return its banking licence to the Central Bank of Ireland next week, in its last act before exiting the Irish market. Three years after ...
Ireland ranks second in Europe for remote work opportunities
Ireland has one of the highest shares of hybrid and remote job postings in Europe, according to the professional network LinkedIn. The analysis shows how working habits have ...
New home completions down 12% in first quarter of 2024 – CSO
There was a 12.1% fall in the number of new home completions in the first quarter of this year, according to new data from the Central Statistics Office. ...
Third month of decline in consumer sentiment – Credit Union index
There was a marginal fall in consumer sentiment for a third month running in April, the latest consumer sentiment index from the Credit Union has found. It follows ...
Banks need to do more for borrowers in early mortgage arrears – Central Bank
A Central Bank review of the supports that are in place for borrowers experiencing early mortgage arrears has found they need to be improved. The analysis looked at ...
Over 53,000 businesses still using Revenue’s Tax Debt Warehousing scheme
The outstanding debt owned by businesses that availed of Revenue’s debt warehousing scheme stood at €1.58 billion this week, according to the tax commissioners in their annual report ...
Diversity report shows more women in senior management roles
A survey of businesses that signed up to a pledge to improve diversity and inclusion in their workplaces has found higher levels of female participation at senior and ...
European Parliament to vote on money laundering law
New laws to tackle money laundering, terrorist financing and sanctions evasion are due to be voted on by the European Parliament. The proposed legislation would place increased surveillance ...
Covid supports stabilised labour market but inequality persists – study
Employment and social welfare supports during the Covid pandemic helped to stabilise the labour market but inequalities persist, according to a new study from the Irish Human Rights ...
Consumers want to make ‘green’ choices but cost dominates – survey
Consumers want to make sustainable choices but cost and other practicalities take priority, new research shows. The survey of 1,000 people from Banking and Payments Federation Ireland (BPFI) ...
ECB governors stick to plan for multiple rate cuts despite global headwinds
European Central Bank officials are sticking to plans to cut interest rates multiple times this year, even as higher US inflation delays a pivot to looser policy by ...
Wholesale electricity prices 40% lower in March on last year
New figures from the Central Statistics Office show that wholesale electricity were 40.3% lower in March of this year compared to the same time last year. The CSO ...
Waiver on development levies to be extended – Harris
Taoiseach Simon Harris said today there is capacity to build 60,000 homes a year and there is a need to continue the supply of new homes. Speaking on ...
Government recorded surplus of €8.3 billion last year – CSO
New figures from the Central Statistics Office show that the general government balance showed a surplus of €8.3 billion or 1.7% of Gross Domestic Product (GDP) in 2023. ...
ECB’s Lagarde says inflation more likely to ease but risks both way
Euro zone inflation is likely to decline further and the European Central Bank may cut interest rates if its long-standing price growth criteria are met, ECB President Christine ...
‘Green’ job postings jump 93%, but jobseekers wary
So-called ‘green’ job postings in Ireland are up over 90% since 2019, new data shows. The research from hiring platform Indeed highlights the growing demand for such roles, ...
Diesel & petrol prices hit highest level so far this year
The latest AA Ireland fuel price survey shows that petrol and diesel prices have hit their highest level so far this year. AA Ireland said that petrol and ...
Job vacancies continuing to fall
The level of job vacancies continued to fall in the first quarter of the year according to the latest ‘Jobs Index’ from hiring platform IrishJobs. Vacancies were down ...
BPFI says SMEs face adjusting profit expectations as costs rise
Small and medium sized businesses will need to adjust their profit expectations in order to ensure the viability and continued growth of the sector, a new analysis has ...
Confirmed euro zone inflation fall bolsters ECB’s June rate cut plan
Euro zone inflation slowed across the board last month, reinforcing expectations for a European Central Bank interest rate cut in June, even as rising energy costs and a ...
Property price growth speeds up to 6.1% in February – CSO
New figures from the Central Statistics Office show that residential property prices grew at the fastest annual pace in just over a year in February. Property prices increased ...
EU new car sales drop by 5.2% in March, says ACEA
New car sales in the European Union fell by 5.2% year-on-year in March, marking the first decline this year and the biggest since July 2022, Europe’s auto industry ...
Both exports and imports fall in February – CSO
Ireland’s exports and imports fell in February, according to the latest figures from the Central Statistics Office. Goods exports in the month were worth €15.9 billion on an ...
Govt agrees to delay date of Patent referendum
The Government has agreed to defer the date for the referendum on the EU’s Unified Patent Court, Minister for Enterprise Peter Burke has confirmed. It was expected that ...
Makhlouf expects that ‘all things equal’ the ECB will cut interest rates in June
The Governor of the Central Bank has said he expects that “all things equal” the European Central Bank will cut interest rates in June. However, Gabriel Makhlouf said ...
Euro zone inflation heading to 2% after ‘bumpy’ road – ECB’s Lane
Euro zone inflation is heading to the European Central Bank’s 2% target next year after a “bumpy” road that will see it hover near current levels for now, ...
Global cooperation needed around systemic risks from non-bank sector – Makhlouf
The Governor of the Central Bank has called for continued global coordination that will lead to progress in dealing with systemic risks arising from the non-bank sector. Gabriel ...
‘Significant’ drop in job openings in first quarter
There was a “significant” drop in job openings in the first quarter of the year, according to the latest Quarterly Employment Monitor from recruitment firm Morgan McKinley. The ...
ECB could cut rates more than three times in 2024 – Simkus
The European Central Bank could cut interest rates more than three times this year and the reductions should not be held back if the US Federal Reserve delays ...
Ibec forecasts 2% growth but global uncertainty will weigh on Irish economy
Business group Ibec has said the Irish economy is still performing robustly, despite rising inflation and higher interest rates. In its first Quarterly Economic Outlook for the year, ...
Construction activity returned to growth in March
Construction activity rose in March for the first month since June of last year and at the most marked rate for nearly two years, new data shows. The ...
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 ...