McGrath nominated as Ireland’s next European Commissioner
Minister for Finance Michael McGrath has been nominated as Ireland’s next European Commissioner. The move was agreed by Government party leaders last night before being formally approved by a meeting of the Cabinet this morning, when Taoiseach Simon Harris presented the nomination to the Government. Mr McGrath has thanked his Cabinet colleagues, saying it was […]
14% of companies using AI to evaluate job applications
14% of companies are using artificial intelligence to evaluate job applications, new data shows. This includes scanning CVs or scoring job candidates to help filter and identify the most suitable candidates based on the job description. The research carried out by recruitment firm Hays Ireland shows that 80% of candidates want to be informed when […]
Annual age related Govt spending to rise by €16bn by 2050
Annual Government spending that is dependent on age will be €16bn higher by 2050 than it is today because of Ireland’s ageing population, new research has found. The analysis, conducted by the Department of Finance, found by the middle of the decade, annual age-related expenditure will have risen from 22% of Modified Gross National Income […]
HSA carried out 10,000 workplace inspections last year
The Health and Safety Authority carried out almost 10,000 proactive workplace inspections last year, according to the authority’s annual report. The HSA conducted 83 investigations into fatal accidents, of which 43 were deemed work-related. Of the 43 work-related fatalities reported, the majority occurred in agriculture, which accounted for 20 deaths, and construction, which accounted for […]
Grocery inflation slows again to reach 2.5%
New figures from Kantar show that grocery inflation stood at 2.5% in the 12 weeks to June 9 – the lowest level of grocery inflation since March 2022 and down from 2.6% in May. Kantar said the slowing inflation rate offers shoppers something of a lifeline in terms of lower prices, but consumers remain on […]
Prices sought for homes are up 6.7% in the second quarter – Daft
Prices sought for homes across the country rose by an average of 3.8% between April and June when compared to the previous quarter, new data from property listings website Daft.ie shows. The rise is the largest quarter-on-quarter gain since mid-2020. The increases brought to €340,398 the average advertised price for a home in Ireland. That […]
Caution urged over copper broadband switch-off
There are calls for careful planning around the switch-off of Ireland’s old copper broadband network amid warnings that many devices are still reliant on the system. Broadband network operator SIRO has conducted an analysis which shows that house and security alarms, medical and security monitors, lifts, landline and emergency phones, car park barriers and retail […]
8 out of 10 employees have used AI in the workplace – survey
Eight out of ten employees have used artificial intelligence in the workplace, according to a new survey. The FRS Recruitment Employment Insights Report shows that almost half of employees believe AI will impact or replace their job in the future, a figure which represents almost double the number who held that view when the same […]
Increased labour needed to drive construction output
An increase in labour capacity in the construction sector may be needed if the number of houses that work has begun on this year are to be delivered. That is according to Banking and Payments Federation Ireland (BPFI) which says that between January and April, 30,138 units were commenced. That compares with 32,800 in the […]
Irish prices second highest in EU last year
Prices paid by Irish consumers were the second highest in the EU last year, according to new official data. Irish prices were 42% higher than the EU average, according to Eurostat, just behind the 43% recorded in Denmark. Lowest price levels were registered in Bulgaria and Romania, the price comparison survey shows. The data also […]
Ireland slips two places to fourth in world competitiveness rankings
Ireland has dropped two places from last year in a key measure of international competitiveness. The country was ranked fourth of 67 economies examined by the Institute of Management Development (IMD) World Competitiveness Yearbook 2024, down from second last year. However, when compared to countries in the eurozone, Ireland came out on top as the […]
Retailers urged to prepare now for online Christmas shopping – An Post
Is it too early for Irish retailers to start preparing for Christmas? Not according to An Post. It has published its first eCommerce Index which shows that 95% of adults shopped online illustrating the potential for businesses to bolster and expand their ecommerce offering. The period from October to December, is known as the peak […]
6.3 million foreign visitors came to Ireland last year – CSO
New figures from the Central Statistics Office show that 6.3 million foreign visitors departed Ireland on overseas routes in 2023. Overall, the visitors spent €7.3 billion on their trips. Of this €1.9 billion was spent on fares, €0.3 billion on prepayments – including car hire, pre-booked tickets and other non-accommodation items paid for in advance […]
NAMA on track to wind down by the end of 2025
The National Asset Management Agency remains on track to wind down completely by the end of next year. But the Minister for Finance Michael McGrath has confirmed that “some residual assets will remain unresolved” after the end of 2025, and that he will be proposing a new bill to ensure the NTMA manages these assets […]
Oil prices stable as demand uncertainty persists
Oil prices were stable today, as traders awaited signs of a hoped-for summer demand boost to prop up prices even as strong supply threatens to blunt gains. Benchmark Brent crude futures were down two cents to $84.23 per barrel this afternoon after climbing in the previous session. US West Texas Intermediate crude futures which also […]
Dublin fourth most expensive city in Europe to build – survey
Dublin is the fourth most expensive city in Europe to build, a new survey shows today, while it also makes it into the top 25 most expensive places to build globally. The International Construction Market Survey 2024 Report, from global professional services company Turner & Townsend, shows that Switzerland remains the most expensive country to […]
ECB set to cut rates in September and December – poll
The European Central Bank will cut its deposit rate twice more this year, in September and December, according to a significant majority of economists polled by Reuters who said the risks were skewed towards fewer rate cuts than expected. That outlook was broadly unchanged from a survey conducted before the ECB delivered its widely telegraphed […]
ECB’s Lane confident euro zone inflation will hit 2% in 2025
The European Central Bank’s chief economist said today he remained confident inflation will fall back to the ECB’s 2% target in 2025 after four years of unusually brisk price growth following the Covid pandemic and Russia’s invasion of Ukraine. In a Reuters NEXT Newsmaker interview, Philip Lane also played down the need for the ECB […]