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Euro zone investor morale hits two-year high in April

Investor morale in the euro zone improved for the sixth consecutive month in April to its highest level in more than two years, a survey showed today, adding that even though Germany remained a drag it showed “economic signs of life”. Sentix’s index for the euro zone rose to -5.9 points in April from -10.5 […]

Record March for wind energy production

The amount of electricity produced by wind hit a new record for March last month, new data shows. 1,541GWh of power was generated by wind farms here during the month. Previously, the record for March was 1,392, with this set in March 2020. This meant that wind energy was responsible for providing 43% of the […]

AIB, EBS and Haven cut fixed Green mortgage rates by 0.2%

AIB and affiliates EBS and Haven are cutting the fixed rates on their “Green Mortgages” by 0.2%. The changes will take place from tomorrow and will be available to new customers and existing customers seeking to fix. The bank claims the move will make its Green Mortgage rates the cheapest in the country. On a […]

Over €25 million stolen in investment fraud last year, say gardaí

Gardaí have said over €25 million was stolen in investment fraud last year, a crime which has increased by over 90%. Almost 1,000 people have reported an investment fraud incident to gardaí over the past four years. Gardaí issued a warning to people to be particularly careful when considering potential investments. More than double the […]

Office leasing in Dublin falls in first quarter

There was a drop in the amount of office space leased in Dublin in the first quarter of the year, new data shows. Research from commercial real estate company JLL Irelands shows that 31 deals were completed, across 96,000 sq. ft of office space. The volume of space is down 44% on the previous quarter […]

Govt publishes bill paving way for pension auto-enrolment

The Government has published a bill which will pave the way for 800,000 workers to be brought into a pension scheme for the first time. Publishing the Automatic Enrolment Retirement Savings System Bill 2024, Minister for Social Protection, Heather Humphreys said this represents one of the biggest reforms of the pension system in the history […]

Service sector grows at fastest pace in eight months

The service sector grew at its fastest pace in eight months in March, new figures show. The latest AIB Purchasing Managers’ Index (PMI) reveals that the index reached 56.6, up from 54.4 in February. Readings above 50 indicate overall growth in activity. “The acceleration in activity was broad-based and points to improving business conditions throughout […]

Euro zone inflation unexpectedly eases, boosting rate cut case

Euro zone inflation fell unexpectedly last month, solidifying the case for the European Central Bank to start lowering borrowing costs from record highs. Consumer price growth in the euro zone slowed to 2.4% in March from 2.6% a month earlier, defying expectations for a steady rate as food, energy and industrial goods prices all pulled […]

Drop in injury claims’ costs but premiums rise by 8% – NCID report

The average cost of settling public and employer liability claims through the Injuries Resolution Board dropped by a third in 2022 compared to 2020, according to a new report. However, average insurance premiums increased by 8% in 2022. The data is in the latest National Claims Information Database (NCID), published by the Central Bank. New […]

Unions join forces in call for major reforms of workers’ rights

Several of Ireland’s largest trade union groups have joined forces calling for a major reform of workers’ rights. The Respect at Work campaign says there should be cross party-political support guaranteeing greater protections for employees in the workplace. SIPTU, the Financial Services Union, Mandate Trade Union and the Communication Workers’ Union are all backing the […]

Inflation falls below 2% for first time since June 2021 – flash CSO reading

Annual inflation in Ireland fell below the euro zone-wide target of 2% for the first time in almost three years after slowing to 1.7% in March, a flash estimate of the Harmonised Index of Consumer Prices (HICP) from the Central Statistics Office shows. Irish inflation peaked at almost 10% year-on-year in the middle of 2022 […]

ECB’s Holzmann says warming to June rate cut but keeping an eye on Fed

The European Central Bank could start cutting interest rates in June as inflation may fall quicker than expected but should not get too far ahead of its US counterpart, as that diminishes the potency of easing, Austrian policymaker Robert Holzmann said. Euro area inflation has tumbled over the past year and economic growth stalled, shifting […]

Manufacturing contracts again in March – PMI

The manufacturing sector contracted in March after briefly returning to growth a month earlier, a survey showed today, with confidence among firms also slumping to the lowest level in more than three years. The AIB S&P Global manufacturing Purchasing Managers’ Index (PMI) fell back below the 50 mark denoting growth to 49.6, compared with 52.2 […]

Pension auto-enrolment: What is it and what will it cost?

After decades of discussion and debate, the prospect of workers being automatically added into a private pension scheme took a step closer this week. On Wednesday the Cabinet approved a Bill that is designed to create an auto-enrolment pension system in Ireland. Following the lead of Britain, New Zealand and Italy, amongst others, the scheme […]

Cost of second hand homes in Dublin rise 1.9% in first quarter

The average price of a used property in Dublin rose 1.9% between January and March compared to the previous three months, new data from DNG shows. That’s more than twice the level of growth recorded in the city in the same month of last year and leaves the average price of a resale property in […]

Price increases in store for consumers from Monday

Inflation in Ireland has fallen significantly in recent months, but a number of cost increases will weigh on consumers from next Monday. From midnight on 1 April, the cost of petrol, diesel and marked fuel oil (green diesel) will rise. It is the latest step by Government to restore excise rates to the levels they […]

Cabinet approves Bill to introduce pension auto-enrolment

Draft legislation designed to set up the new pension auto-enrolment system has been approved by the Cabinet. If enacted, the Automatic Enrolment Retirement Savings System Bill will result in up to 800,000 private sector workers, who currently do not have a pension, becoming automatically enrolled in one. The aim of the plan is to extend […]

€10m paid out so far under €125m mortgage interest relief scheme

Just €10m has so far been paid out in mortgage interest relief under the Government scheme announced in the budget, despite €125m being allocated for it. 12,107 PAYE taxpayers have made a claim for the assistance, which is designed to help those who struggled with mortgage repayments last year because of rising interest rates. Of […]