McGrath wants public bodies to keep taking cash payments
The Minister for Finance has written to Government colleagues asking that public bodies under their remit maintain their existing payment methods in relation to accepting cash pending the completion of the National Payments Strategy. Michael McGrath also said he expects that all public bodies that currently accept or facilitate the acceptance of cash will continue […]
Spending on homewares up 18% in August, but pub spend dips 1% – AIB
Summer spending recovered slightly last month despite the continuing bad weather, a new survey shows today. The AIB August Spend Trend report reveals that overall spending rose by 1% in August compared to the previous month. The bank its report suggests that due to the bad weather many people decided to stay home with spending […]
Euro zone August inflation revised slightly lower
Euro zone consumer inflation in August was slightly lower than initially estimated, the European Union’s statistics office Eurostat said today. But it still remained more than twice the European Central Bank’s target of 2%. Eurostat said inflation in the 20 countries sharing the euro was 0.5% month-on-month in August and 5.2% year-on-year, lower than the […]
First Home Scheme extended to self-builders building first home
The Government has extended the First Home Scheme to self-builders who are building their first home. The scheme, which was launched just over a year ago, works by providing homebuyers with part of the purchase price in return for a minority equity stake in the home. It is already open to people buying newly-built houses […]
Grocery price inflation falls to lowest level in a year – Kantar
Grocery price inflation slowed to 11.5% in the 12 weeks to September 3, new figures from Kantar show today. This marks the lowest level of grocery price inflation since September of last year and is down from a rate of 12.8% in the 12 weeks to August 6. But it remains much higher than the […]
Economic growth expected to slow as multinational exports weaken – Central Bank
The Central Bank has lowered its forecasts for growth in the economy based on weaker exports from multinationals in Ireland, but has left its outlook for inflation broadly unchanged. In its Quarterly Bulletin, published today, the bank also said the Government’s spending plans for the upcoming Budget risk adding to inflation. The bank forecasts that […]
Annual house price growth cools to 1.5% in July – CSO
New figures from the Central Statistics Office show that residential property prices rose by 1.5% in the 12 months to July. This marked the slowest annual rate of growth in almost three years and compared to a growth rate of 13.1% the same time last year. Prices in Dublin decreased by 1.4% and prices outside […]
Wholesale energy prices fell again in August
Wholesale electricity prices continued their decline in August compared to prices last year, according to the latest report published by the Single Electricity Market Operator (SEMO). SEMO operates the wholesale market for electricity on the island of Ireland. Its figures show that, in the year to end of August, the daily average price for wholesale […]
What next for Irish stock market amid departures of key players?
Vladimir Lenin is widely credited with the phrase ‘there are decades where nothing happens; and there are weeks where decades happen’. He could well have been talking about the Irish stock exchange – or Euronext Dublin, as it’s now known – and events on the frontline there of late. It appears as if there has […]
Construction activity continued to slow in August – PMI
A slowdown in construction activity continued in August, according to the latest construction purchasing managers index from BNP Paribas Real Estate Ireland. There was a sharper contraction in activity last month than in July, as a continued fall in demand saw new orders shrink and the rate of employment growth ease. The PMI stood at […]
ECB raises euro zone interest rates again by 0.25%
The European Central Bank raised interest rates for the 10th meeting in a row today to counter stubborn inflation but signalled that it is likely done tightening policy. The ECB lifted its deposit rate to 4% from 3.75%, taking it to an all-time-high. Markets and economists expect the policy tightening move to be the ECB’s […]
Plans for participation exemption to Irish corporation tax
The Government has announced plans to introduce changes to how dividend income received from foreign branches of companies with bases in Ireland are taxed here. The reforms, if implemented, will mean qualifying dividend income that is transferred here from a foreign company within a company group will from 2025 be exempt from tax in Ireland. […]
Budget will help with cost of living, McGrath says
The Minister for Finance has said the latest European Central Bank interest rate increase will undoubtedly add pressure to many households who already are carrying the burden of previous interest rate hikes. This afternoon, the ECB lifted its deposit rate to 4% from 3.75%, taking it to an all-time-high. Michael McGrath said the Government will […]
ECB governing council to make decision on interest rates
The European Central Bank’s governing council meets in Frankfurt today to decide if it will continue to increase interest rates as part of its efforts to bring inflation down. Since July last year, the bank has increased rates after nine consecutive meetings. The ECB has put up interest rates by over four percentage points since […]
Campaign encourages SMEs to save time, money and energy
Local Enterprise Offices have launched a campaign encouraging small businesses to avail of supports that will help them save time, money and energy. The “All In A Day’s Work” campaign is focused on highlighting the supports that will enable small businesses to make significant changes to the way they work. The supports include the Lean, […]
Research reveals extent of shift to digital banking
One in three people in Ireland now use banking apps from outside of the traditional sector, nearly double the number a year ago, new research has found. The Consumer Banking Sentiment Survey, carried out for the Department of Finance, also found that 82% agree services provided by digital only banks are a good substitute for […]
Gas demand down by a fifth during mild August – GNI
Overall gas demand in August was well down on the same month last year amid mild and changeable weather. According to the latest Gas Demand Statement from Gas Networks Ireland, gas demand in the month was down by a fifth on August of last year and by 2% on July. Gas remained the biggest contributor […]
Energy companies told to ‘go further’ on price cuts
The four main energy companies have been told that they must go further on price cuts, during a meeting with Taoiseach Leo Varadkar and energy minister Eamon Ryan this afternoon. The two ministers met the four largest suppliers – Electric Ireland, SSE Electricity, Bord Gáis and Energia. Price reductions of between 10% and 20% have […]