McGrath confident Irish banking sector can withstand global turbulence
Minister for Finance Michael McGrath has expressed confidence in the Irish banking sector to withstand the turbulence being experienced in the global market. Mr McGrath updated his Cabinet colleagues on the banking situation this morning. Speaking afterwards, he said that the global financial system was “highly integrated” and therefore there may well be “some impacts”, […]
Many vacant home refurbishments unviable unless grants rise – report
A new report has cast doubt on the financial viability of renovating many vacant or derelict properties, without a significant increase in Government grants being made available. The study by the Society of Chartered Surveyors Ireland (SCSI) looked at 20 different case studies from around Ireland and found just a quarter were financially viable without […]
Six out of ten people don’t claim medical tax refunds
Six out of ten taxpayers in Ireland still do not claims tax relief on their medical expenses, a new survey has found. While four out of every ten do not submit a tax return because of a lack of awareness, the research by Taxback.com found. A similar proportion said they don’t submit a return as […]
Unions and employers call for inclusive workplaces
The Irish Congress of Trade Unions and business group Ibec have released a joint statement to mark International Day for the Elimination of Racial Discrimination. The two organisations say they are recommitting themselves to the elimination of racism and discrimination in the workplace. The joint statement outlines that Ireland now has a diverse labour market […]
Programme for young entrepreneurs to be expanded
Patch, an accelerator programme for young entrepreneurs, has announced an all-island expansion. The initiative is open to 16-21-year-olds in Ireland and Northern Ireland and has received a new three-year funding commitment from the NDRC, Ireland’s national startup accelerator programme. Patch was established as a non-profit organisation in 2018 to develop and nurture entrepreneurial and technologically-minded […]
Tourism trade event Meitheal gets underway in Killarney
Significant business deals are expected to be signed over the next three days at Meitheal – the largest trade event for the Irish tourism industry. More than 450 Irish tourism providers will pitch their business to over 200 international buyers and tour operators from 17 countries. The event gets underway at the Gleneagle INEC in […]
Fuel merchants seek crackdown on coal smuggling
An organisation representing solid fuel merchant in Ireland has called for Government action to stem smuggling of coal into the country. Solid Fuel Merchants Ireland (SFMI) claims coal worth €56m is illegally brought into Ireland from Northern Ireland and sold here every year The body has called for additional enforcement measures to deal with the […]
A quarter of respondents said they were thinking of opening a credit union account
82% of the public fear that consumers will be impacted by the decrease in banking competition caused by the exit of Ulster Bank and KBC Bank Ireland from the market. The research carried out by Amárach was commissioned by Metamo, the joint venture between 16 credit unions and Fexco. Despite the perceived reduction in competition […]
Irish banking sector ‘in good stead into the future’ – BPFI
The level of capitalisation and liquidity in the Irish banking sector is very strong, the chief executive of the Irish Banking and Payments Federation Ireland (BPFI) has said. Brian Hayes also said the supervisory and regulatory requirements in place put the entire banking sector here in good stead into the future. He was speaking as […]
ECB expected to raise interest rates again today
The European Central Bank’s governing council is widely expected to raise interest rates by another half a percentage point today after its meeting in Frankfurt. The ECB’s move will come as the financial world continues to be rocked by turmoil in the banking sector in Europe and the United States. Today’s widely expected half point […]
Home price growth slows to 6.1% in January – CSO
The pace of residential property price inflation slowed to an annual rate of 6.1% in January, compared to an annual rate of 7.7% in December, according to the latest Central Statistics Office figures. Today’s figures also show a marked increase in property sales by investors last year. The CSO said that home prices fell on […]
Consumers warned over pitfalls of online shopping
Irish online consumers can be led into over consumption, over indebtedness and may lose out on fair pricing and terms due to online e-commerce practices by some sellers, according to the European Consumer Centre Ireland. Last year Irish people were the third biggest online shoppers in Europe after the Netherlands and Denmark. The European Consumer […]
ECB likely to stick to big rate hike despite banking turmoil – source
European Central Bank policymakers are still leaning towards a half-percentage-point rate hike tomorrow, despite turmoil in the banking sector, as they expect inflation will remain too high in coming years, a source told Reuters. Investors had begun to doubt the ECB’s commitment to another big rate hike this week after the collapse of Silicon Valley […]
EU publishes proposed changes to electricity market rules
The European Commission has proposed changes to Europe’s electricity market rules, to try to increase the use of fixed-price power contracts, shield consumers from price spikes and speed up the shift to renewable energy. The European Union said last year it would overhaul its electricity market after cuts to Russian gas supplies drove European power […]
Nearly 27,000 new homes to be delivered this year, BPFI predicts
Nearly 27,000 new housing units will be delivered this year, new figures from Banking and Payments Federation Ireland (BPFI) suggest. The latest BPFI housing market monitor shows that housing supply recovered significantly last year after lower-than-expected output in 2020 and 2021 due to the pandemic. Almost 30,000 new homes were completed last year, up 45% […]
MEPs to vote on minimum energy standards for buildings across EU
MEPs will vote later today on proposals to set minimum energy standards for buildings across the EU. Among the changes, the heating and cooling of new buildings will have to result in zero emissions from 2028 onwards. The energy rating of existing residential buildings will have to meet a minimum E rating by 2030 and […]
Finance Ireland to increase fixed mortgage rates by up to 0.75%
Non-bank lender, Finance Ireland, is increasing its fixed mortgage rates by up to 0.75%. The company said 5-year fixed rates will increase by 0.5%, while 3-year fixed rates will rise by 0.75%. The changes will take place from this Thursday. But the lender said that customers who have a loan offer by then will have […]
Fall in workplaces trialling four-day week, survey finds
There has been a fall in the number of companies implementing or trialling a four-day working week, according to a new survey. The study by recruitment company Hays Ireland shows that the number of workplaces that have either implemented or are trialling a four-day working week has dropped from 6% in 2022 to 3.5% in […]