Nightlife sector criticises ‘inadequate’ Covid response by Govt
A group representing workers in the nightlife sector has criticised the Government’s response to its reopening, warning that a continued shutdown will result in an upsurge of unregulated events. In a letter to the Taoiseach, Tánaiste and Minister for Arts, the ‘Give Us the Night’ campaign said its industry is the only remaining one without […]
Irish services sector expands at fastest rate in more than 20 years
Inflationary pressures evident in latest purchasing managers’ index data from AIB Irish service sector companies reported the strongest month-on-month growth in business activity in July since August 2000 as lockdown restrictions eased further and the Health Service Executive’s vaccination programme accelerated. The latest purchasing managers’ index (PMI) survey data, published by AIB, shows new services […]
Number on PUP at lowest level since pandemic began
The number of people in receipt of the Pandemic Unemployment Payment is just under 163,400 this week – the lowest level since the pandemic began. The number receiving the payment dropped almost 29,000 on last week, as people returning to work closed their claim. This week, the Department of Social Protection issued weekly payments valued […]
Minister starts process of selling State stake in Bank of Ireland
The Minister for Finance has started the process of selling the State’s shareholding in Bank of Ireland. According to a filing at the London Stock Exchange, the Government’s stake in the bank has fallen from 13.95% to just below 13%. Paschal Donohoe announced in June that he intended to start the process of selling the […]
Strong growth in business activity – AIB PMI
Irish service sector companies reported the strongest growth in business activity since August 2000 in July, according to the latest AIB PMI survey. New business expanded at the fastest rate since January 2016, while incomplete workloads rose the most in over two decades despite faster workforce growth. The latest survey data also signalled rising inflationary […]
Bank of Ireland reports strong recovery in H1
Bank of Ireland is reporting a strong recovery in its business performance with a €465 million underlying profit before tax, according to the bank’s interim results for the first half of the year. The bank reports a net credit impairment charge of €1 million at the end of June compared to €937 million in H1 […]
Used cars holding value and may even be appreciating – DoneDeal
Used cars in Ireland are now holding their value better than any time in the recent past, DoneDeal claims in its latest Car Price Index. The car website cites analysis undertaken by the TCD and NUIG Economist Dr Tom Gillespie which shows that limited supply and intense demand has meant that cars are currently holding […]
Manufacturing sector maintains rapid growth in July but cost pressure remain
The manufacturing sector continued to grow at a rapid pace in July, albeit at a slower rate than the previous two months. According to AIB’s latest monthly check on conditions in the manufacturing sector, new order growth hit another record high for the third month running. Output, while up, was partly constrained by ongoing supply […]
Over 1,000 complaints to FSO were pandemic related with business interruption insurance dominating
The Financial Services Ombudsman said his office had to date received 1,051 complaints arising from the circumstances surrounding the Covid-19 pandemic. 180 of them related to business interruption insurance. Ger Deering said the Office of the FSO had dealt with 760 of the total, including 113 of the business interruption insurance complaints. The information was […]
Construction sector bounces back in second quarter – CSO
The construction sector bounced back in the second three months of this year with the lifting of Covid-19 restrictions, according to the Central Statistics Office. The completion of houses and apartments is now running at a higher rate than the same period two years ago. The CSO’s New Dwelling Completions for the second quarter of […]
In-store spending on credit and debit cards jumps in June – Central Bank
There was a fall in online spending as consumers returned to shops and spent more on their credit and debit cards in-store in June, according to statistics from the Central Bank. Spending on cards in-store increased by 10%, or €304 million, last month compared to May, while online spending fell by 5%, or €133 million. […]
Retail sales rose 3.3% in June, CSO figures show
Retail sales volumes grew 3.3% in June compared to the previous month after restaurants and bars were allowed to serve customers outdoors for the first time this year. Sales were 10.6% higher than the same month a year ago, when stricter curbs were in place, and 13% up on pre-pandemic levels in June 2019. Non-essential […]
NAMA made €20m profit in first three months of 2021
The National Asset Management Agency recorded a €20m profit in the three months to the end of March, according to accounts submitted to the Oireachtas. The State body had revenues of €114m in the period, the majority of which came from the sale of loans and collateral relating to properties. NAMA said it was holding […]
Best first half for .ie domain registrations – report
A total of 33,815 new .ie domains were registered in the first six months of 2021, according to the latest .IE Domain Profile Report. That was up 1.6% on the same period last year and marked the best first half-year period on record for new .ie domain registrations, the report from the company that manages […]
Banker accountability rules may take further 18 months, Donohoe says
Regime will require firms to set out who makes decisions and where responsibility lies It may be a further 18 months before long-planned new rules are in place to make it easier for regulators to hold senior managers in banks and other financial firms accountable for failings under their watch, Minister for Finance Paschal Donohoe […]
Co-operative housing delivers record 454 homes in 2020
The national organisation promoting and developing co-operative housing in Ireland said it delivered 454 homes last year, despite the challenges posed by Covid-19. Co-operative Housing Ireland said that represented an increase of over a fifth on the previous year and that it was a record number of housing deliveries for the organisation. The outcome was […]
Numbers receiving PUP at lowest level since payment was introduced
The number of people receiving the Pandemic Unemployment Payment (PUP) is now at its lowest level since the introduction of the Government support in March 2020. There will be 192,296 people receiving the PUP this week, a drop of 9,856 over the past seven days. The largest reduction was in the accommodation and food services […]
75% of home building fund committed to projects
Loan approvals by Home Building Finance Ireland – the Government initiative set up to fund the delivery of new homes – amounted to €539m by the end of the first half of this year. That represented a 36% increase on the €395m total approvals at the end of last year. HBFI has now committed just […]