Work-life balance act to extend leave for parents and carers
Workers will be able to avail of extended breastfeeding breaks and new unpaid leave entitlements as part of the work-life balance act. Under the legislation, the entitlement to breastfeeding breaks will be extended from the current period of six months up to two years. In addition to this, parents and carers will be entitled to […]
Toll charges on national road network increases
Toll charges on most of the country’s national road network have increased today after a six-month deferment by the Government and there have been warnings that tolls are highly likely to rise again. The Automobile Association said it would like to see a review of the public-private partnerships behind many toll roads. Ten roads across […]
ESRI downgrades GDP growth outlook for Irish economy
The Economic and Social Research Institute (ESRI) has downgraded substantially its outlook for growth in Gross Domestic Product terms for the Irish economy, but it says the underlying position of the economy is still very strong. The ESRI says the domestic economy – as measured by Modified Domestic Demand (MDD) – is expected to experience […]
Rate of house price inflation moderates further as first time buyers dominate
The annual rate of house price inflation continued to ease during the first half of the year, the latest residential market review from property advisors DNG shows, while first time buyers continue to dominate the market. The annual rate of growth in prices at a national level (excluding Dublin) slowed to 3.4% for the year […]
Inflation rate estimated to have slowed to 4.8% in June from 5.4% in May – CSO
Inflation in Ireland, as measured by the Harmonised Index of Consumer Prices, is estimated to have moderated to an annual rate of 4.8% in June from 5.4% in May, new figures from the Central Statistics Office show. Today’s CSO flash inflation figures show that energy prices are estimated to have increased by 0.9% in the […]
ESRI downgrades GDP growth outlook for Irish economy
The Economic and Social Research Institute (ESRI) has downgraded substantially its outlook for growth in Gross Domestic Product terms for the Irish economy, but it says the underlying position of the economy is still very strong. The ESRI says the domestic economy – as measured by Modified Domestic Demand (MDD) – is expected to experience […]
Contactless payments surge to 3 million payments per day
The volume of contactless payments rose by almost 18% year-on-year to more than 268 million in the first quarter of the year, hitting three million payments a day. According to the latest Payments Monitor from Banking & Payments Federation Ireland (BPFI), the value of contactless payments also increased, rising by 22% to almost €4.6 billion […]
Government announces plan to boost cybersecurity
The Government has published a plan to boost cybersecurity, which includes measures to support the potential growth of the cybersecurity industry. The Mid-Term Review of the National Cyber Security Strategy 2019-2024 sets out 18 new actions to be implemented within the lifetime of the strategy. In a bid to address skills shortages, the plan will […]
EU to take next step towards digital euro
The EU is set to take the next crucial step towards launching a digital version of the euro, a controversial project that has come under attack from the public, politicians and banks before it even exists. From China to the United States, Jamaica to Japan, dozens of central banks worldwide are exploring or have already […]
EU reach data rule deal targeting Big Tech
EU countries and EU lawmakers has agreed on rules that govern how Big Tech and other companies use European consumer and corporate data, with safeguards against non-EU governments gaining illegal access. The European Commission proposed the Data Act last year to cover data generated in smart gadgets, machinery and consumer products, part of a raft […]
ECB’s Lagarde sees no rate peak call in near term
Euro zone inflation has entered a new phase which could linger for some time, European Central Bank President Christine Lagarde said today, outlining a lengthy fight against price growth that must dampen demand and force firms to curb prices. The ECB has raised rates at each meeting over the past year, taking its deposit rate […]
Grocery price inflation slows to 15.8% from 16.5%
New figures from Kantar show that grocery inflation rose by 15.8% in the 12 weeks to June 11, down on last month’s level of 16.5% and the lowest level of inflation seen so far this year. Today’s figures show that take-home grocery sales increased by 10.8% in the four weeks to June 11. Kantar noted […]
First-time buyers mortgage approvals hit record high
May was the busiest month for first-time buyer mortgage approvals in both volume and value terms since the figures started being collected in 2011, new figures from Banking and Payments Federation Ireland show today. First-time buyer approvals rose by 26.4% to €926m in May, bringing the annualised value of FTB approvals to a total of […]
Third of wages in 2021 came from multinationals – ESRI
A new study from the Economic and Social Research Institute (ESRI) shows that a third of the wages paid in the Irish economy in 2021 came from Multinational Enterprises (MNEs). The research by economist John Fitzgerald is entitled ‘Understanding the Irish Economy’. It shows that rapid growth in highly paid employment and corporate tax income […]
Review of occupations on critical skills list
The Government has announced a review of the occupations eligible for employment permits under the Critical Skills Occupation List and Ineligible Occupations List. Employers and stakeholders are being urged to make a submission as part of the review process. “At a time of full employment, with over 2.6 million people at work in Ireland, it […]
Optimism among Irish firms but taking action on sustainability a challenge – KPMG
Over half of Irish businesses expect to increase turnover in the next 12 months and 38% expect to expand their workforce, according to the latest research from KPMG. The Enterprise Barometer reveals overall optimism among Irish businesses, with 59% of firms reporting plans to grow in the near future. 59% intend to finance their expansion […]
BIS warns world economy at critical juncture in inflation fight
The world’s central bank umbrella body, the Bank for International Settlements (BIS), has called for more interest rate hikes, warning the world economy was now at a crucial point as countries struggle to rein in inflation. Despite the relentless rise in rates over the last 18 months, inflation in many top economies remains stubbornly high. […]
27% of consumers can’t afford a holiday this year
As the holiday season begins, 27% of consumers say they cannot afford a holiday this year, compared with 23% last year and 19% in 2021, according to the last Credit Union Consumer Price Index published today. Based on a survey of 1,000 people, it finds 30% of respondents planning a holiday say cost of living […]