Ibec forecasts 2% growth but global uncertainty will weigh on Irish economy
Business group Ibec has said the Irish economy is still performing robustly, despite rising inflation and higher interest rates. In its first Quarterly Economic Outlook for the year, Ibec is forecasting growth in GDP of 2% this year and 3.4% in 2025. The report forecasts higher growth in exports, investment and it said the overall […]
ECB could cut rates more than three times in 2024 – Simkus
The European Central Bank could cut interest rates more than three times this year and the reductions should not be held back if the US Federal Reserve delays its own cuts, Lithuanian policymaker Gediminas Simkus said today. Simkus, making some of the most dovish comments since the ECB’s policy meeting on Thursday, also said the […]
Global IPO activity ‘cautiously optimistic’ in Q1
The global IPO market began the year on a cautiously optimistic note, according to analysis by EY, with activity declining in volume in the first quarter of the year, but increasing in value. 287 initial public offerings (IPOs) to the value of $23.7 billion were launched in the first three months of 2024, the report […]
Households saved €19 billion in 2023 – CSO
New figures from the Central Statistics Office show that households saved 12.09% of their income in the last quarter of 2023 – and 12.4% in 2023 as a whole. The CSO noted that the saving rate has averaged over 12% in the last two years, above the long-term pre-Covid average. The saving rate has declined […]
AI-enabled workforce critical for future investment – IDA
IDA Ireland has said that an AI-enabled workforce is critical to transforming Ireland’s enterprise base and supporting future investment in the country. The agency has published its latest Labour Market Pulse report in collaboration with Microsoft and LinkedIn. The research, entitled ‘Unlocking the Future: Ireland’s Prosperity with Generative AI’, is focused on artificial intelligence skills […]
WTO eyes global trade rebound but warns of risks
The World Trade Organization said today that global trade should rebound this year from an unexpected slump in 2023, but warned that regional conflicts, geopolitical tensions and economic policy uncertainty risked darkening the picture. In its annual trade forecast, the WTO disclosed that world trade volumes unexpectedly declined by 1.2% in 2023. That downgrade was […]
Irish mortgage rates edge higher in February – Central Bank
New figures from the Central Bank show that average mortgage rates in Ireland rose to 4.29% in February from 4.27% in January. The euro zone average mortgage fell for the third month in a row to 3.91%. Today’s Central Bank figures show that Irish mortgage rates are currently the seventh highest in the euro zone, […]
ECB expected to hold rates steady when it meets today
The Governing Council of the European Central Bank (ECB) will consider whether to make any changes to interest rates at a meeting in Frankfurt later today. But markets are not anticipating any alterations at this point, despite steady falls in eurozone inflation. Analysts do expect though that the ECB will begin trimming rates back from […]
60% would turn down a job that does not offer hybrid work
60% of people would turn down a job if it did not offer hybrid working, new data shows. The latest Cpl Salary Guide reveals that 66% of those surveyed currently avail of hybrid working. Almost 40% said that flexible and remote working provides a better work-life balance and increased job satisfaction. “We see from this […]
Euro zone banks lower bar on mortgages but demand keeps falling – ECB
Euro zone banks lowered the bar on mortgage approvals last quarter for the first time in over two years but demand for credit kept falling amid high borrowing costs and a stagnant economy, a European Central Bank survey showed today. The ECB has pushed interest rates to record highs to rein in inflation, bringing bank […]
Supreme Court rules personal injuries awards guidelines legally binding
The Supreme Court has ruled that guidelines on personal injuries awards voted into force by Ireland’s judges three years ago are legally binding and remain in force. In what was a complex but historic decision in relation to personal injuries awards, a seven-judge court dismissed the bulk of issues raised in an appeal brought by […]
Live Register figures ease by 0.2% in March – CSO
New figures from the Central Statistics Office show that the seasonally adjusted Live Register total for March decreased by 400 to 174,500 people – a fall of 0.2%. The CSO said the unadjusted Live Register total stood at 173,396 people for March and of these 54.6% were men. Today’s figures show that the 35-44 age […]
NAMA sought resolution unit as part of wind down
The State’s bad bank asked the Government to set up a ‘NAMA resolution unit’ because there was no way they could finalise all legal cases, insolvency, and property disposals before their official wind-up at the end of 2025. NAMA is due to be shut down at the end of next year but informed the Department […]
Higher level of affinity for family business in Ireland
Nearly three quarters of third level students who come from a family business background believe that the next CEO of the firm will be a family member, according to a study on succession carried out by Dublin City University in association with AIB. The study points to an unusually high level of affinity for involvement […]
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 […]