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11% of investors hold crypto-assets, including Bitcoin

Most investors are ‘going digital’, with new research revealing that 56% of those surveyed make investments online. The survey commissioned by the Competition & Consumer Protection Commission (CCPC) reveals that almost 80% said they invest for better long-term returns on their money. Meanwhile, almost half were motivated to invest due to current low interest rates. …

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

Residential property prices rose on an annual basis by 8.6% – the fastest annual pace in three years – in July, according to the latest figures from the Central Statistics Office. The figures also show that the number of property transactions is now back to pre-pandemic levels. Today’s figures from the CSO show not only …

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Family businesses plan to hire more staff

Family run businesses employ nearly 1 million people in Ireland – and collectively are one of the biggest employers in the country. The National Family Business Sentiment Report 2021 shows that they want to employ more people. Eight out of 10 family businesses hope to hire new employees in the coming 12 months if there …

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

The Irish Fiscal Advisory Council has said the economy is recovering ‘swiftly’ but government spending plans for the upcoming Budget are “at the limit of what is prudent”. In its pre-Budget Statement, published today, the budgetary watchdog also warns there is a one-in-four risk that government debt could end up on an unsustainable path. The …

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

Earlier this month, Housing Minister Darragh O’Brien told Prime Time that the Government’s proposed shared equity scheme, a core part of the recently published Housing For All plan, had been approved by the Central Bank. But the Central Bank has indicated that the scheme, which could see the State paying up to 30% of the …

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Fund approval will see Credit Unions investing in social housing

The Central Bank has approved a new fund that will facilitate credit unions to get involved in the delivery of social and affordable housing around the country. The Credit Union Approved Housing Body Fund will oversee up to €800 million investment in social and affordable homes with an initial €200 million being deployed over the …

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Ireland to reach pre-pandemic employment levels by 2023, Donohoe says

The Minister for Finance has said that forecasts now indicate the country will get back to pre-pandemic levels of employment and broader economic performance by around 2023, but he is increasingly hopeful progress could be quicker. Paschal Donohoe also said the country has made enormous progress with its economic and public health since March of …

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College students struggling to pay living expenses, survey finds

Nearly half of all college students say they struggle to afford living expenses, according to a survey carried out by the Irish League of Credit Unions (ILCU) and youth website Spunout. The findings show that 88% worry about money, while over 40% stress about money all of the time. Finding and keeping a job, travel …

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Govt should abandon plans for tax cuts in upcoming Budget – ICTU

The Irish Congress of Trade Unions (ICTU) has said the Government should abandon its plans for tax cuts in the upcoming Budget and instead prioritise increases in public expenditure on housing, healthcare and childcare. In its pre-budget submission, ICTU says permanent tax cuts are unaffordable and unjustified. ICTU says the pandemic has shown that basic …

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Are consumer prices going to keep on rising?

No sooner had the first Covid-19 vaccine jabs been administered when talk turned to the risk of price inflation accompanying an impending recovery in economies globally from the pandemic. It all started in the US where incoming President Joe Biden was keen to hit the ground running with a series of stimulus programmes amounting to …

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Economy performing ahead of expectations – Varadkar

Tánaiste and Minister for Enterprise Leo Varadkar said today that the economy is “actually ahead of where we thought we would be”. Mr Varadkar said he still believes it is possible to get the public finances back on a sustainable footing without tax increases and cuts to spending. “I think I am even more convinced …

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Construction firms see further sharp rises in activity – Ulster Bank PMI

The construction sector reported another month of rapid growth in August, the latest Ulster Bank Construction Purchasing Managers Index shows, as it continued to benefit from improvements in demand after the reopening of the sector. Ulster Bank noted that the rate of expansion did ease for the third consecutive month in August, but from what …

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ECB trims emergency support, but insists ‘no tapering’

The European Central Bank has today raised its forecast for economic growth in 2021, as the euro zone recovery gathers pace following the easing of many pandemic curbs. The euro zone economy is now expected to grow by 5% this year, up from 4.6% in the last forecast, and by 4.6% in 2022, slightly down …

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Inflation rate rises to near ten-year high in August – CSO

The annual rate of inflation rose by 2.8% in August, its biggest increase in almost ten years. The latest figures from the Central Statistics Office show higher fuel costs was the primary driver of price increases. Prices have gradually increased over the past ten months, the longest stretch since 2007, according to the CSO. The …

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Irish shoppers increase use of electronic payments

Irish consumers’ use of online and mobile payment methods has continued to increase despite the easing of restrictions on physical retail, according to Banking and Payments Federation Ireland. Meanwhile the move away from cash continued, with contactless payments hitting a new record in July. A new report by BPFI shows that the volume of online …

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No changes to Budget framework despite better tax receipts – Donohoe

The Minister for Finance has said he is not looking at making any further changes to the framework for October’s budget beyond what was set out in the Summer Economic Statement, despite better than expected tax receipts in recent months. Paschal Donohoe was speaking during a webinar organised by the farm and agribusiness professional services …

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Economy to return to pre-Covid levels early next year – NTMA CEO

The chief executive of the National Treasury Management Agency, Conor O’Kelly, has told an audience of investors that the economy is set to return to pre-pandemic levels of activity early next year. Speaking at an event organised by the Irish Strategic Investment Fund, Mr O’Kelly said Ireland’s position coming out of the pandemic crisis “couldn’t …

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Gender gap in graduates’ pay expectations – survey

Female students have lower salary expectations than their male counterparts across a number of sectors, according to research by Universum, which is part of IrishJobs.ie. The study found that male graduates had higher expectations for their starting salaries in all seven of the sectors surveyed, with some seeing considerably larger gaps than others. There was …

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