Over 700 cybersecurity incidents in Ireland last year
The National Cyber Security Centre (NCSC) received 5,276 reports last year, 721 of which were confirmed as cybersecurity incidents. This led to the opening of 309 investigations. The figures are contained in the National Cyber Security Annual Update 2023 which was published today. According to the report, the vast majority of incidents were categorised as […]
Personal loan drawdowns hit highest level ever in second quarter
Strong demand for car loans propelled the value of personal loan drawdowns to the highest level recorded during the second quarter of the year. In total 60,674 loans worth a total of €641m were provided during the April to June period. That was up 7.6% in volume and 18.9% in value, when compared to the […]
Services sector continues to grow solidly in October
There was a sustained uptick in activity in the services sector last month, the latest AIB Ireland Services Purchasing Managers Index shows. However, growth momentum eased from September’s six-month high, the data shows. Overall the index fell from 55.7 in September to 53.8 in October. “The rate of growth in the Irish services sector was […]
Government urged to ‘ramp up’ broadband capacity
The Government has been told that National Broadband Ireland should seek to ramp up its capacity to meet the demand for new connections in anticipation of continued strong take-up. The recommendation is contained in an independent evaluation report of the National Broadband Plan which was prepared by EY Ireland. The study was based on extensive […]
October new car registrations up 9.7%, but EV registrations down 12.3%
New figures from the Society of the Irish Motor Industry (SIMI) show that new car registrations for October rose by 9.7% to 2,423 when compared to the figure of 2,208 the same month last year. Registrations so far this year are down 1.2% to 119,668 on the 121,134 cars registered the same time last year. […]
OPEC+ agrees to delay December output hike for a month
OPEC+ has agreed to delay a planned December oil output increase by one month, the group said, as weak demand notably from China and rising supply outside the group maintain downward pressure on the oil market. Eight members of OPEC+, which groups the Organization of the Petroleum Exporting Countries plus Russia and other allies, were […]
Labour productivity levels decline in key SME sectors, report warns
Labour productivity levels have declined in key SME sectors, a new report warns. According to the latest SME Monitor published by Banking & Payments Federation Ireland (BPFI), there has been a productivity decline of around 29% in construction, and 14% in accommodation and food services. “If we look at this in a European context the […]
Tentative signs of ‘turnaround’ for manufacturing sector
Activity in the manufacturing sector improved in October, driven by a rise in output and new orders. The latest AIB Manufacturing PMI shows that business conditions improved at the fastest pace since February. The headline index increased to 51.5, from 49.4 in September. Readings above 50 indicate overall growth in activity. The Irish manufacturing PMI […]
Euro zone inflation rebounds more than expected in October to 2%
Euro zone inflation accelerated more than expected in October and could still pick up further in the coming months, bolstering the case for caution in European Central Bank interest rate cuts as price growth is not yet fully tamed. Inflation in the 20 countries sharing the euro currency accelerated to 2% from 1.7% in September […]
Euro zone inflation rebounds more than expected in October to 2%
Euro zone inflation accelerated more than expected in October and could still pick up further in the coming months, bolstering the case for caution in European Central Bank interest rate cuts as price growth is not yet fully tamed. Inflation in the 20 countries sharing the euro currency accelerated to 2% from 1.7% in September […]
International tourists spending less time here, more money
International visitors are spending less time in Ireland, but more money. New figures from the Irish Tourism Industry Confederation (ITIC) show that the length of overnight stays between July and September fell 7%, when compared to the same time last year. However, revenue was up 10% with visitors spending €2.14 billion. Nearly 2 million international […]
Wholesale electricity prices rise over 12% in September – CSO
New figures from the Central Statistics Office show that wholesale electricity prices increased by 12.2% in September compared to August, and were 1% higher compared to September of last year. But wholesale electricity prices have fallen by 70.9% when compared with their peak seen in August 2022. The price index for all energy fuels dropped […]
New scheme to reimburse costs to fix Celtic Tiger era defective apartments
The Government is establishing a pilot scheme for reimbursing apartment owners who fix Celtic Tiger era defective properties at their own expense. Two years ago the total cost for repairing the homes was estimated at €1.5 billion to €2.5 billion. The total number of properties affected is up to 100,000, according to the working group […]
Irish infrastructure lagging behind EU counterparts – IFAC
Ireland’s infrastructure is lagging 25% behind that of high-income European economies, according to the Irish Fiscal Advisory Council. In a new report the spending watchdog said housing, health, transport and electricity all require investment. The fiscal council estimated 68,500 homes need to be built a year to catch up and meet a growing population. That […]
Three quarters of businesses report increase in cyberattacks – survey
Almost three quarters of Irish businesses have reported an increase in cyberattacks in the past year, according to new research. The Hiscox Cyber Readiness Report shows that Irish companies have experienced an average of 58 cyberattacks over the last 12 months. Almost half of businesses surveyed said they had suffered reputational damage due to the […]
Small bounce in consumer sentiment after Budget
There was a “small bounce” in consumer sentiment in October, but little sense that consumers think Budget 2025 will dramatically improve the outlook for their household finances. That is according to the latest Credit Union Consumer Sentiment Index. The survey, conducted in partnership with Core Research, shows an index reading of 74.1 for October, marking […]
First time buyers and switchers drive increase in Q3 mortgage drawdowns
Strong demand from first-time buyers (FTB) and switching activity drove an increase in both the volume and value of mortgage drawdowns in the third quarter. A total of 11,774 new mortgages worth €3.4bn were drawn down by borrowers during the period, according to the latest figures from the Banking and Payments Federation Ireland (BPFI). In […]
Euro zone disinflation on track, Lagarde says
Euro zone inflation is “well on track” to hit the European Central Bank’s 2% target next year, ECB President Christine Lagarde said today, repeating the bank’s most recent guidance. “The incoming information on inflation shows that the disinflation process is well on track,” Lagarde said at the International Monetary Fund’s annual meeting in Washington. “Recent […]