Consumer sentiment hits 21-month low in July
Consumer sentiment has dropped to a 21-month low this month on broad based concerns about the economy. In particular the KBC Bank Ireland consumer sentiment index found consumers were worried about severe financial pressures around their household finances. Overall the index fell from 57.7 in June to 53.7 in July, despite a surprise 2.2 point […]
€5m in funding for new construction technology centre
The Government has announced funding of €5 million over five years for a new construction technology centre, which will accelerate research and innovation within the construction sector. The centre will be based at NUI Galway, and the consortium includes Trinity College Dublin, University College Dublin, and University College Cork working with the Irish Green Building […]
57% of women in Ireland feel obligated to work while sick compared to 34% of men
A new survey reveals that 57% of women in Ireland feel obligated to work while sick when working remotely, compared with just 34% of men. The survey, from HR technology firm Workhuman, also found that 40% of women in Irish workplaces feel mentally exhausted and drained after the working day compared to 32% of men. […]
Recruitment squeeze felt by 63% of construction firms here
Nearly two thirds of construction companies here are finding it difficult to recruit skilled workers, according to a survey of over 300 firms here conducted by Core Research on behalf of software firm, Autodesk. They put the difficulty down to a lack of career options and negative perceptions about working in the industry, as well […]
Upskilling programme launched for bank staff
A new upskilling programme has been launched to help financial services employees who will be impacted in the coming months by redundancies in the banking sector. As Ulster Bank and KBC prepare to exit the Irish market, the ‘Skills Ignite for Financial Services’ scheme will support workers who wish to develop in-demand skills and improve […]
€9.3m in funding announced for online retail
Over 210 retailers are to receive €9.3m in grants through the latest round of a Government scheme designed to help businesses boost their online presence. The Online Retail Scheme is administered by Enterprise Ireland and is open to retailers who already have a website and a physical store. The grants can be used by businesses […]
Mullingar film studio gets county council approval
A new film studio in the midlands, which has been hailed as “transformative” for the region, has been given planning approval. Westmeath County Council has granted planning permission for the Hammerlake Studios project in Mullingar. The plan to build the film production facility on a 25-acre site at Lough Sheever Business Park is subject to […]
ECB to discuss rate rise of 25 or 50 points on Thursday
European Central Bank policymakers will discuss whether to raise interest rates by 25 or 50 points at their meeting on Thursday to tame record-high inflation, two sources with direct knowledge of the discussion told Reuters. The sources, who spoke on condition of anonymity because the deliberations are private, said policymakers were also homing in on […]
Hiring rate in first five months 27% higher than 2019
Hiring rates in the first five months of this year were on average 27% higher than the same period in 2019, despite the economic pressures being faced by businesses here. That’s according to the latest IDA Ireland/Microsoft/LinkedIn Labour Market Pulse for the period from January to May, which also shows that the share of digital […]
Business confidence plummets on inflationary pressures
Business confidence here has dropped sharply to its lowest level since October of 2020 as a result of concerns about the impact of strong inflationary pressures on demand, according to the latest Accenture/S&P Global Ireland Business Outlook. This drop in anticipated demand coupled with sharp price increases has also driven predictions of falling profits. Expectations […]
Oil prices extend gains on weak dollar and tight supply
Oil prices have extended gains, propped up by a weaker dollar and tight supplies that offset concerns about recession and the prospect of widespread COVID-19 lockdowns in China again reducing fuel demand. Brent crude futures for September settlement rose 69 cents, or 0.7%, to $101.85 a barrel by early this morning, after a 2.1% gain […]
Diageo to build new €200m brewery in Kildare
Drinks company Diageo, which owns Guinness, is to build a new €200m brewery near Newbridge in Co Kildare. The carbon neutral facility will be used to produce lagers and ales, freeing up capacity at its main facility at St James’s Gate in Dublin to allow it to produce more stout for global markets. The brewery, […]
FinTrU to create 300 new jobs in Donegal
Three hundred new jobs are to be created by regulatory solutions company FinTrU in Letterkenny, Co Donegal. The company is to set up a European Delivery Centre in the town, adding the new roles over the next five years. The positions will be in areas such as compliance, legal, risk and controls, operations and client […]
200 new R&D jobs for Medtronic in Galway
Medtronic is further expanding its presence in Galway with a $30m investment that will see it grow its workforce in the city by 200. The healthcare technology company is to establish a new global laboratory services team and up its investment in new product development in the city. The new roles will be in the […]
REInvest makes first Dublin buy in €65m deal for 5 Harcourt Road
Luxembourg property asset manager REInvest Asset Management has bought a property in Dublin for the first time in the company’s history. The office building, 5 Harcourt Road, was bought for €65m from Henderson Park, a private equity property manager based in London. 5 Harcourt Road is fully let on a long-term basis to WeWork, which […]
Taoiseach says cost-of-living crisis could last into next spring
The Taoiseach has warned that the cost-of-living crisis could last into the spring of 2023. Speaking on RTÉ’s Prime Time, Micheál Martin said Russia’s approach to gas and the uncertainty around the price of energy meant the situation could get worse before it gets better. “We think the winter is going to be very difficult. […]
Euro clings to parity as markets await U.S. inflation data
The euro hovered a whisker above parity to the dollar today, with traders wary of the single currency being forced to levels unseen for decades if US inflation data, due to be released later today, shows a sky-high reading. The greenback was firm in Asia trade, and neither the New Zealand dollar or South Korea’s […]
Exports by Enterprise Ireland backed companies increased by 12% to record level in 2021
Exports by companies supported by Enterprise Ireland increased by 12% to a €27.29 billion last year – the highest level of export growth ever recorded by EI supported firms in value terms. Strong increases were experienced across almost all sectors in 2021, according to the state agency responsible for helping Irish companies to grow and […]