Swift rebound in spending forecast in Irish economy
A swift rebound in consumer and business spending is in prospect for 2022 as almost all pandemic restrictions come to an end, according to Goodbody’s latest quarterly outlook. The Back in Business report predicts growth in domestic demand of about 5.8% this year. The forecast tallies with that of Minister for Finance Paschal Donohoe who […]
Dublin Port volumes dip just 5.2% despite Brexit hit
The volume of goods passing through Dublin Port last year only dropped marginally, despite the impact of Brexit on Irish Sea trade. Overall, 34.9 million tonnes went through the facility, down 5.2% on the previous year. Roll-on-Roll-Off, or Ro-Ro units dropped by 9.3%, equivalent to 99,000 trailers, according to the port. But Load-On-Load-Off containers rose […]
Cabinet to consider NPHET recommendations on restrictions
The three Coalition leaders will meet this morning at Government Buildings to consider recommendations from the National Public Health Emergency Team on the easing of Covid-19 restrictions, in advance of a full Cabinet meeting at 3pm. NPHET has given the green light to ending most of the restrictions and, because it did not specify any […]
Return to workplace can be done a bit faster – Ibec
Danny McCoy, the chief executive of Ibec, has said the lifting of most Covid restrictions is a “positive development” and that a gradual return to the workplace can be done “that little bit faster”. Speaking on Morning Ireland, Danny McCoy said employers and employees would have to decide how best to proceed on returning to […]
Job vacancies for HR roles soar by 420% – IrishJobs.ie
Employers are seeking to hire more of the people who hire people to work in their companies. Job vacancies across Talent Acquisition and Human Resources saw an unprecedented 420% year-on-year increase in Q4 2021, according to the latest IrishJobs.ie Jobs Index. “2021 was a particularly busy year for recruitment and we anticipate this trend will […]
European firms make slow progress in appointing more women to boards
The proportion of women in leading positions at major European companies rose last year, but fell behind schedule to reach the European Commission’s proposed target of 40% for 2025. This is according to a study by an EU-sponsored non-profit organisation. European Commission President Ursula von der Leyen said earlier this month she would try to […]
Annual rate of inflation hits 20-year high, reaching 5.5% in December
New figures from the Central Statistics Office show rising inflation has resulted in increases across a range of products, including bread rising by 5.3% while crisps increased by 7%. Overall food and non-alcoholic drinks are up 1.6% on an annual basis, with increases too in energy and fuel costs. The CSO says the annual rate […]
The ABCs of the ECB
Economics is not all about numbers. In fact, in one of the most important areas of economics – central banks and monetary policy-language ranks alongside number crunching in importance. That’s because the power to create money and therefore to influence its value thrusts economics into the forefront of people’s lives. Retaining the confidence of people […]
63% of professionals considering a job change: survey
More than six out of ten workers here are considering a change of job this year, according to a survey conducted on behalf of business networking platform LinkedIn. The survey of 1,001 professionals here, conducted by Censuswide late last year, found that 63% are considering a move during 2022. The feeling was particularly pronounced among […]
Oil at highest level since 2014 as Turkey outage adds to tight supply outlook
Oil prices rose for a fourth day today as an outage on a pipeline from Iraq to Turkey increased concerns about an already tight supply outlook amid worrisome geopolitical troubles in Russia and the United Arab Emirates. Brent crude futures rose 39 cents, or 0.5%, to $87.90 a barrel this morning, adding to a 1.2% […]
Brexit boosts international banks’ Irish balance sheets to over €500bn
The Irish balance sheets of large systemically important banks with international operations run from Ireland have grown by as much as €200bn since the UK voted to leave the EU six years ago, a new study has found. The transfers put Ireland in only second place behind Germany when it comes to the value of […]
Residential property deals up almost 19% last year
The number of residential property transactions increased by almost 19% to 44,110 in the 12 months to October 2021, according to the latest Residential Buildings Report published by GeoDirectory and EY. It reveals that over 16% of all property transactions were for newly built homes, which was down compared to the previous year. The average […]
Covid Credit Guarantee Scheme extended until June
The Covid-19 Credit Guarantee Scheme for small and medium businesses has been extended the end of June, the Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar said today. Low-cost loans will continue to be available to Irish SMEs through a wide range of lenders including three banks, six non-bank finance providers and 19 […]
Has the pandemic permanently changed our spending ways?
Covid-19 has undoubtedly changed many aspects of our lives, some of which we would hope to return to as soon as the clouds of the pandemic lift. However, there are some areas where our habits may have shifted permanently and are unlikely to revert completely to the old ways. One example is our relationship with […]
Firms supported by Local Enterprise Offices created 7,440 new jobs last year
Companies being supported by the country’s Local Enterprise Offices created 7,440 new jobs last year, a 9% increase on the figure in 2020. It brought to 35,729 the total employed by LEO-supported firms at the end of last year, and marks 8th successive year of employment growth. The vast majority – 85% – of those […]
Inflation in building costs to continue – survey
More than four out of every five builders across the country expect the prices they charge for projects will rise in the first three months of the year when compared to the same period last year, a new survey of the industry has revealed. 99% reported a year-on-year increase in the cost of raw materials, […]
NTMA raises €3.5bn from new 10-year bond
The National Treasury Management Agency raised 3.5 billion euros from the sale of a new 10-year bond, a lead manager for the deal said, covering at least a quarter of its funding needs for 2022. The NTMA, like other European debt management offices, regularly raises a chunk of funds early in the year by selling […]
‘Collapse’ in home ownership among young adults – report
Home ownership among adults of prime working age has “collapsed” since the financial crisis, according to a report from the Parliamentary Budget Office. Using an international housing affordability survey, the Parliamentary Budget Office concludes the cost of housing here is “severely unaffordable”. The report says this is partly due to “rising rents” and “surging house […]