Fuel price hikes adding €600 to the cost of running a car each year
The figures from AA Ireland show fuel prices have increased by more than a third in the past two years. Petrol prices at the pumps are now close to the psychologically important €2 a litre mark. In the past two weeks alone prices have jumped around 2c a litre, with the relentless cost increases putting […]
Oil hits seven year highs before easing, as Ukraine hints at concessions
Oil eased today from its highest in more than seven years as Ukraine hinted at possible concessions to Russia that could alleviate tensions between the two countries that Western governments say are on the brink of war. Brent crude rose 5 cents to $94.49 a barrel by 1555 GMT, after touching its highest since October […]
Motor premium history rule may be misleading customers – broker
A requirement for motor insurers to list a customer’s previous five years’ premiums on their renewal notice, which was introduced in an effort to push premiums lower, may be having an unwanted effect. That’s according to online broker, Insuremycars.ie, which claims the change introduced three years ago is leading customers to think they are getting […]
€1m Enterprise Ireland Competitive Start Fund open for applications
Early-stage entrepreneurs and entrepreneurial teams have been invited to apply for Enterprise Ireland’s €1m Competitive Start Fund (CSF) which is now open for applications. The competition is open to early-stage companies from all sectors with an eligible innovative product or service set for global markets. The fund will award up to €50,000 in equity funding […]
Are our mortgages next in line for a price hike?
Ireland has once again risen to the top of the league table in Europe when it comes to the interest rates that we pay on our mortgages. The average first-time buyer here pays about €200 more per month than their eurozone counterparts on a similar sized mortgage. However, believe it or not, we’ve led a […]
Construction activity growth speeds up on improved demand
Growth in the Irish construction sector accelerated at the start of the year as the impact of the Omicron wave of Covid-19 subsided and demand rose. This is according to the first BNP Paribas Real Estate Ireland Construction Total Activity Index. More work and greater optimism saw construction firms increase purchasing in January – as […]
Tánaiste leads trade mission to France
Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar will today begin a trade mission to France. France is now Ireland’s closest neighbour in the European Union and is an important trading partner. Over €28 billion of goods and services are traded between the two countries every year. The Tánaiste will begin his trip […]
Government is walking wobbly tightrope on cost-of-living
When Micheál Martin announced an earlier than expected easing of restrictions just three weeks ago, relief was in the air. The worst of the pandemic appeared to be in the rear-view mirror, the economy was starting to recover strongly and his Government could finally look to tackle other important issues that had been put on […]
77% of B&B owners confident of recovery this year
Over three-quarters of Irish B&B owners have expressed their confidence in how the industry will perform during 2022 as Covid travel restrictions are dropped. But while the majority are optimistic about the year ahead, some remain concerned that international visitor numbers will not return to normal levels until at least 2023. B&B Ireland, the national […]
Govt defends cost of living measures amid calls for more supports
Minister for Public Expenditure and Reform Michael McGrath has said the Government recognises the latest measures to address the rising cost of living “won’t meet every need” or solve everyone’s financial problems. However, he said the Government believes it will make a “positive difference” for a very large number of people. A €200 energy rebate […]
Donohoe: Impact of EWSS cuts to become clearer in March
The Minister for Finance has said the Government will have a better idea next month what impact the reduction of the employment wage supports is having on vulnerable firms. Paschal Donohoe said it is difficult to form a view as to the number of employers who may see their viability effected as we move through […]
Irish mortgage rates highest in euro zone again
Ireland once again has the highest mortgage interest rates in the euro zone, new figures from the Central Bank show. The average interest rate on new Irish mortgage agreements stood at 2.69% in December, compared to euro area average of 1.29%. Ireland is followed by Greece at 2.55% and Latvia at 2.26%. Finland has the […]
Measures to tackle cost of living to be announced
The Government is set to announce measures to address the impact of the rising cost of living on households. The Taoiseach told a meeting of his party last night that these supports will alleviate pressures on working people and those on low incomes. Today’s announcement will detail supports in excess of €400 million. However, this […]
Personal loans for home improvements jump 25% in 2021
Over 43,000 personal loans for home improvements were drawn down last year, up almost 25% on the previous year. New figures from Banking and Payments Federation Ireland reveal that these loans were worth €462 million. The average home improvement loan was €9,748 in the final quarter of 2021, down from €10,899 on the fourth quarter […]
Sick pay plan approved by Oireachtas committee
A Government plan to give all workers the right to paid sick leave has been approved by the Oireachtas Committee on Enterprise, Trade and Employment. The committee is recommending that all employees be entitled to the right of statutory sick pay to ensure workers on all forms of employment contracts receive the same protections. The […]
Rents up over 10% in final quarter of last year, Daft report reveals
Rents nationally rose at an annual rate of just over 10% in the last three months of last year, according to listed rent prices compiled by the property website Daft.ie. On a quarterly basis, rents rose in the Dublin area by just over 4% compared to just 0.5% in Munster. This is a reversal of […]
ECB’s Lagarde downplays inflation concerns
European Central Bank President Christine Lagarde appeared to downplay inflation concerns today, arguing that price pressures could still subside before becoming entrenched and high energy costs would be a drag on prices further out. Pointing to mounting inflation risks, the ECB opened the door last week to an interest rate hike later in 2022 and […]
Grocery price inflation hits highest level since October 2020
New data show that household budgets are coming under pressure as grocery price inflation reached its highest level since October 2020 at 1.7% in the 12 weeks to January 23. The data from Kantar show that the number of products being sold on promotion has dropped by 3% compared with last January. Kantar also said […]