Onshore wind energy delays may result in 2030 target miss
The slow pace at which onshore wind energy infrastructure is being built in the Republic and Northern Ireland could result in the renewable energy targets set for 2030 being missed. Energy market consultancy Cornwall Insight estimates that at the current level of delivery the target could be missed by as much as three years. Its […]
Most Irish CEOs optimistic about growth and profitability
Most Irish CEOs are optimistic about the economic and business outlook over the next 12 months, new data shows. The latest EY CEO Outlook surveyed 1,200 executives globally – including CEOs in Ireland. 60% of Irish CEOs surveyed said they are either very or somewhat optimistic about managing input costs and the overall cost of […]
Crypto market capitalisation hits record $3.2 trillion
The value of the global cryptocurrency market has topped $3 trillion as the election of Donald Trump as US president spurred bets that friendlier US regulation could usher in a new boom for all corners of the asset class. The sum market value of cryptocurrencies touched a high of nearly $3.2 trillion early on November […]
Rents climb 1.7% between July and September
Advertised rents for homes across the country rose by a further 1.7% between July and September, according to new data from the property listings website Daft.ie. It was the 15th consecutive quarterly rise and brought the average monthly rent sought nationally to €1,955. That represents an increase of 7.2% compared to the same time last […]
Value of food services up 5.2% driven by rising costs
The value of the food bought outside the home across the island rose 5.2% over the last year, new data from Bord Bia shows. It brought the total turnover in the food service industry in Ireland and Northern Ireland to €9.8bn, the highest level in the sector over the past decade. However, the Irish food […]
Motorists must provide driver number to insurer under new measure
Motorists will have to provide their driver number to their insurer when taking out a policy from next year. The new measure, which comes into effect on March 31st, will also require the driver numbers of named drivers to be provided. The development follows the signing of a commencement order by the Minister for Transport, […]
Majority expect Christmas shopping to be more expensive this year
The cost of living continues to be felt among consumers with 72% saying they expect Christmas shopping to be significantly more expensive this year, while 36% expect to spend less compared to last year. Those are the views of respondents to the latest KPMG Next Gen Retail Survey. “Price is still the primary factor influencing […]
More ECB rate cuts coming but pace of easing uncertain, Rehn says
More European Central Bank interest rate cuts are coming and the deposit rate could hit the so-called neutral level in the first half of next year, Finnish central bank chief Olli Rehn said today. The ECB has already cut rates three times this year as prices have fallen and further cuts at each of its […]
IHF calls for urgent action to safeguard tourism and hospitality sectors
The Irish Hotels Federation has called on all political parties and candidates in the General Election to commit to policy measures aimed at staving off the commercial crisis facing the wider tourism and hospitality industry – particularly food service businesses. Launching its manifesto, IHF President Michael Magner said an urgent change in direction is now […]
China consumer prices rise at slower rate in October
China’s consumer inflation rate slowed in October, official data showed over the weekend, in a sign that demand remains sluggish in the world’s second biggest economy. The slowdown comes as authorities have been seeking to boost domestic activity as a property crisis weighs on confidence. The consumer price index (CPI), a key measure of inflation, […]
Live Register figures edge 0.4% higher in October – CSO
New figures from the Central Statistics Office show that the seasonally adjusted Live Register total for October rose by 0.4% to 169,000 people – an increase of 700 people from the previous month. The CSO said that the unadjusted Live Register total stood at 163,766 people for October. Today’s figures show that the 35-44 age […]
Total construction activity falls despite strong growth in housing
Total activity in the construction sector fell in October, despite strong growth in housing. The BNP Paribas Real Estate Ireland Construction Total Activity Index rose slightly from 49 in September to 49.4 last month. However, the index was still below the 50 mark which indicates growth. This is the second month in a row in […]
Financial abuse experienced by 30% of adults – survey
Vulnerable adults are being urged to keep control of their own money as much as possible, including those with decision-making and capacity challenges. Almost a third of adults in Ireland (30%) have experienced financial abuse according to figures released by Safeguarding Ireland. In a RED C survey, the majority of those who experienced this type […]
Inflation rate steady at 0.7% again in October – CSO
The rate of inflation rose by 0.7% in the 12 months to October 2024, according to the latest Central Statistics Office figures. There was a significant fall in energy prices over the past year. Electricity prices were down 16%, gas fell 18%, petrol dropped 8% and diesel was down 12%. However, prices in restaurants and […]
Leaders to discuss EU competitiveness at Budapest summit
EU leaders are meeting for a second day in Budapest to discuss the European economy and its competitiveness, as the continent continues to take stock of Donald Trump’s victory in the US presidential elections. Leaders at the European Political Community summit will hear from Mario Draghi, the former ECB president, whose recent report on competitiveness […]
Dollar soars, euro tumbles as Trump wins election
The dollar soared today and was set for its biggest one-day rise since March 2020 after Republican Donald Trump won the US presidential election, while the euro, Chinese yuan and Mexican peso were among the biggest losers on potential new tariffs in the regions. Trump beat Democrat Vice President Kamala Harris to retake the White […]
Unemployment rate rises slightly to 4.2% in October – CSO
The unemployment rate rose slightly to 4.2% in October from a near-record low of 4.1% a month earlier, new figures from the Central Statistics Office showed today. The unemployment rate for September was revised down from a provisional reading of 4.3%, the CSO said. Today’s CSO figures show that the jobless rate for men in […]
Decarbonising electricity sector will cost €2bn annually – EAI
The Electricity Association of Ireland has published a report outlining a policy and investment pathway for the decarbonisation of the sector, which it says will play a critical role if Ireland is to achieve its climate goals. It projects investment of close to €2bn annually in electricity grid reinforcement, renewal and resilience is needed to […]