Mortgage approvals and drawdowns continue to rise
The number of mortgages being approved and drawn down continue to rise, according to the latest figures from Banking and Payment Federation Ireland. In the month of June, 5,203 mortgages were approved, an increase of over 11% on the previous month and a rise of almost 130% on the same month last year. First-time buyers […]
Personal injuries claims numbers see big fall – PIAB
The number of claims made to the Personal Injuries Assessment Board decreased last year, mainly as a result of the Covid-19 pandemic, while there was also a reduction in the level of awards paid out to claimants. The latest annual report by Personal Injuries assessment board – the state body which assesses personal injury compensation […]
5 things you need to know as indoor hospitality reopens
Restaurants, cafés and bars can reopen their doors for indoor eating and drinking today, operating under strict new public health regulations. Operational guidelines for the hospitality industry were updated by Fáilte Ireland last night. While businesses providing indoor hospitality are being asked to implement specified protective measures, customers will also be asked to play their […]
Consumer and business sentiment down slightly in July but still above pre-pandemic level
Consumer and business sentiment, as measured by Bank of Ireland’s Economic Pulse, dipped slightly in July but was well up on the situation a year ago. At 89.3, the headline figure also remained above its pre-pandemic level. The Delta variant of Covid, as well as the delay to the resumption of indoor hospitality may have […]
Contact tracing change to indoor dining regulations – RAI
Indoor dining in restaurants and cafes resumes today for the first time since last December, with many pubs not having opened their doors since March last year when Covid restrictions came into effect. People who are fully vaccinated or who have recovered from Covid-19 in the past six months will be allowed to avail of […]
Consumer confidence dips marginally from June’s high
Irish consumer confidence dipped marginally in July from the two year high recorded in June, according to the latest consumer sentiment index from KBC Bank Ireland. A still uncertain economic outlook coupled with growing inflation fears, together with practical issues around the reopening and increasing nervousness about the Delta variant of Covid-19 are among the […]
Final meetings on indoor dining rules
Final meetings to agree the legal rules for indoor dining will take place this morning. It is hoped the regulations will be published later today followed by the operational guidelines for the hospitality sector. The Attorney General will meet with government officials and Fáilte Ireland this morning to finalise the legal underpinning for the new […]
Permanent TSB agrees potential deal for Ulster Bank loans
Shares in Permanent TSB soared over 15% today after it announced a potential deal worth about €7.6 billion to buy some elements of Ulster Bank’s business here. The lender said it has entered into a non-binding Memorandum of Understanding with Ulster Bank owner NatWest regarding a potential acquisition involving certain elements of the Ulster Bank […]
PUP numbers at lowest level since March 2020
New figures from the Department of Social Protection show that the number of people getting the Pandemic Unemployment Payment are at the lowest level since early March 2020. Just over 202,000 people received the Pandemic Unemployment Payment this week, a decrease of almost 9,700 on last week. The largest reduction – over 3,000 – was […]
Central Bank seeks to end loyalty penalty for car and home insurance customers
The Central Bank has recommended a ban on home and motor insurance customers being charged a loyalty penalty the longer they remain with an insurance provider, a practice known as “price walking”. However, the regulator has stopped short of recommending the outlawing of dual pricing, where new and renewing customers with a similar risk profile […]
Guidelines on indoor dining to be outlined
Government guidelines on how indoor hospitality will operate from Monday are due to be published shortly. The new measures will allow those who are vaccinated against Covid-19, or have recently recovered from the virus, and their children to eat and drink indoors. President Michael D Higgins yesterday signed the Health Amendment Bill into law, paving […]
EU to set up anti money-laundering agency
The EU is to set up a stand-alone agency to crack down on money laundering across Europe where major banks have been hit by a wave of dirty money scandals. Many cases have involved northern countries such as Denmark, Sweden and Finland with a reputation for playing by the rules, but criminal gangs and terrorism […]
No time limits on indoor dining under reopening plans
There will not be any time limits for those allowed to eat and drink inside pubs and restaurants under guidelines agreed with the hospitality sector this evening. Closing time will be set at 11.30pm and an app will be developed by Government to allow business owners to check customers’ Digital Covid Certificates at the door […]
Covid spending to top €30 billion by end of year
Minister for Public Expenditure and Reform Michael McGrath will tell his Government colleagues this morning that Covid spending over a 22 month period to the end of this year will top €30 billion. Minister McGrath will update the Cabinet on government spending ahead of the publication of the Mid-Year Expenditure Report. It is understood that […]
Govt approves drafting of bill to cap moneylender rates
The Government has approved the drafting of a bill which will introduce a cap on the interest rates that moneylenders can charge. The legislation proposes two rate caps, one for cash loans, and one for running accounts – these are similar to tied credit cards, and are often used by catalogue companies. For cash loans, […]
New stamp duty rules for bulk investors signed into law
President Michael D Higgins has signed into law measures that will allow for the taxation of institutional investors who buy homes in bulk. In a bid to clamp down on the bulk purchase of homes, a stamp duty of 10% will be applied to institutional investors that buy ten homes or more. Apartments will not […]
Talks on reopening indoor dining for fully vaccinated
Representatives from the restaurant and bar sector will this evening meet with Government officials as work continues on guidelines ahead of the anticipated reopening of indoor hospitality next week. The question of whether or not there will be time limits on the indoor service in bars and restaurants will be examined. Last night, there were […]
A heatwave hits the economy
It’s not just temperatures which have shot up this week. The Central Statistics Office (CSO) confirmed that the economy, or at least parts of it, is going through a definite heatwave of spectacular growth. We also learned through the Summer Economic Statement that the Government intends to borrow a lot more money than had been […]