Rise in new companies registered in first half of year
Almost 14,000 new companies were registered in Ireland in the first half of the year, up 42% on the same period in 2020 – according to CRIF Vision Net. Within this period, March was the strongest month for start-ups recording a total of 2,715 new registrations. According to the data, the legal, accounting and business […]
Euro zone bond yields fall ahead of ECB policy meeting
Euro zone government bond yields fell on Monday ahead of Thursday’s policy meeting of the European Central Bank (ECB), while concerns about the Delta variant of the coronavirus continued to dampen risk sentiment. ECB policymakers are set for a showdown as they chart a new policy path, with disagreements on the economic outlook and thus […]
Appetite for saving money declines as economic reopening gather pace
There are indications in Bank of Ireland’s latest Savings and Investment Index that appetite for saving money is declining as the economy continues to gradually reopen. In May of last year, 55% of people surveyed by the bank said they saw it as a good time to save money, but this had dropped to 47% […]
Consumers feel safer going to restaurants, survey shows
Consumers now feel safer going to restaurants, hotels and attending in-person events, according to a new survey from Deloitte. Their monthly ‘Consumer Tracker’ survey tracks Irish consumers’ attitudes towards personal wellbeing, financial concerns, travel and hospitality, transport and retail. The most recent data was gathered between 24 and 30 June. It shows that consumers’ financial […]
Concern at Govt plans to run deficit of almost 3%
The Chairman of the Irish Fiscal Advisory Council has expressed concern at the Government plans to run a deficit of almost 3%, which would result in a modest fall in the ratio of debt to national income from 110% to 106% by 2025. Sebastian Barnes, who works at the OECD Economics Department, said Ireland has […]
Banks spend €3bn on delivering digital services – BPFI
Retail banks here have collectively spent over €3 billion in the past five years on delivering new digital services for customers, according to the Banking & Payments Federation of Ireland. The services provided include end-to-end online mortgages, new and secure payment apps, personal loan applications, instant account opening, data analytics, money management tools and SME […]
Two thirds of parents struggle with back to school costs
Almost two thirds of parents surveyed by the Irish League of Credit Unions for its annual back to school survey say that covering the cost of sending a child to school amounts to a financial burden. Around a quarter of respondents say they get into debt in order to cover the costs every year. The […]
Donohoe ‘committed’ to retaining low corporate tax rate
Minister for Finance Paschal Donohoe has said he is “so committed” to retaining Ireland’s low corporate tax rate that he is not willing to sign up to a new international tax agreement in its current form. 130 countries and jurisdictions have signed up to a plan that will bring sweeping new reforms to global corporation […]
Central Bank urges action on long term mortgage arrears
The Central Bank has said more action is needed from mortgage lenders to deal with long term mortgage arrears. Deputy Governor Ed Sibley said there are wider issues associated with the legacy of mortgage arrears including the cost of credit for all borrowers and the attractiveness of the Irish mortgage market for new entrants. Mr […]
26% of small landlords plan to leave rental market
Half of tenants surveyed by the Residential Tenancies Board say they are spending more than 30% of their net income on rent, with 20% of tenants in Dublin spending more than 50% of their total income. The RTB survey was conducted between September 2019 and March 2020. Carried out by Amarach Research, it surveyed 1,038 […]
Insurance report shows wide disparity in legal costs
The Central Bank has published data on employers’ liability, public liability and commercial property insurance for the first time. The information will form part of the National Claims Information Database. The report highlights a stark difference in legal costs between claims that go through the Personal Injuries Assessment Board and those that are pursued through […]
Central Bank says risks of market abuse have risen
The Central Bank has said ‘significant improvements’ are needed in how regulated financial firms comply with Market Abuse Regulations. The Market Abuse Regulations are rules governing how information, which can give a financial advantage to buyers and sellers, is handled by companies involved in buying and selling shares and bonds. The Central Bank says the […]
IDA Ireland says investments close to 2019 levels
Foreign direct investments into the country during the first half to the year returned to levels close to those seen at the end of 2019, IDA Ireland said today. The agency secured 142 investments between January and June, compared to 132 in the same period last year. 62 of those were new name investments, with […]
Taoiseach says public must ‘buy into’ hospitality rules
The Taoiseach has said compliance with new rules around indoor dining is something that public will have to “buy into”. His comments come ahead of a meeting between representatives of the hospitality sector and senior Government officials this afternoon regarding the planned resumption of indoor hospitality, following a Cabinet decision last night. Speaking this morning, […]
Govt aims to get 75,000 back to work under new strategy
The Government is aiming to get 75,000 long-term unemployed people back to work within two years as part of its Pathways to Work Strategy. The plan, which will be launched today, will also seek to cut the current youth unemployment rate of 44% to 12.5% by 2023. Minister for Social Protection Heather Humphreys is expected […]
Cabinet to sign off on plans for reopening indoor hospitality
The Cabinet will sign off on plans this afternoon to reopen indoor hospitality in bars and restaurants, RTÉ News has learned. The incorporeal meeting follows detailed discussions between ministers, senior officials and representatives from the hospitality industry throughout the weekend. The Government is aiming to have to legislation, which will allow vaccinated people eat and […]
Construction activity increased again in June – Ulster Bank PMI
Construction activity increased for the second month in a row following the full reopening of the sector, and at one of the strongest rates since the survey began. The Ulster Bank Construction Purchasing Managers’ Index remained well above the 50 no-change mark in June, posting 65 following a reading of 66.4 in May. Index readings […]
Higher utility bills and transport costs drive inflation higher – CSO
Consumer prices rose by 1.6% in June on an annual basis on the back of higher electricity, gas and transport prices, new figures from Central Statistics Office show today. The figure for June was marginally lower than the two-year high of 1.7% in May, the CSO said. Prices had fallen on an annual basis during […]