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 […]
Skill shortage threatens financial services talent pipeline – report
A shortage of people with a well-rounded skill set, including role-specific technical skills and in-demand soft skills, represents a threat to the health of the talent pipeline in financial services, a new report has found. In particular data analytics, machine learning, digital transformation and risk and compliance are the specialties where the greatest skills gaps […]
Euro nears parity with dollar on growth fears
The euro sank to within a whisker of parity with the dollar today and stock markets fell as the prospect of further central bank tightening and worries about the health of economies worldwide unnerved investors. The dollar’s role as the safe-haven go-to currency for investors worried about the economic outlook has been burnished in recent […]
Banks not trusted by farmers – Irish Banking Culture Board report
There is an “absence of trust” amongst farmers in banks, according to the latest report from the Irish Banking Culture Board. The farming community was surveyed as a specific cohort for the first time and registered a -77 trust score, ranking significantly lower than both the general population and SMEs. The report reveals that the […]
High prices forced first contraction in construction sector in over a year
Severe price pressures forced the Irish construction sector to contract marginally in June, the first time it has reduced in size since April of last year when the pandemic was still restricting activity. The BNP Paribas Real Estate Ireland Construction Purchasing Managers Index (PMI) found new orders fell at a sharp and accelerated pace. Purchasing […]
Cabinet agrees stricter controls on online platforms advertising short-term lets
The Government has approved moves to strengthen regulatory controls on the short-term letting of property. These controls will apply to non-principal private residences in rent pressure zones and are due to come into effect in September. The amendment, if enacted, will mean that from 1 September online platforms will not be able to advertise properties […]
Job vacancies stabilise as caution enters the market
New data from hiring platform IrishJobs.ie shows a continued stabilisation in the number of job vacancies across the country. While the Index reveals 15% year-on-year growth in the number of jobs available this quarter, this is a deceleration of growth compared to the year-on-year figure for last quarter of 44%. In addition, quarterly growth is […]