Business News

Key actions needed to reduce insurance costs – NCC

25th February 2021

The National Competitiveness Council (NCC) has said key actions must be taken to reduce costs in the Irish liability insurance market, including bringing personal injury award levels in line with other jurisdictions. The council also said that steps must be taken to ensure consistency in award levels and reduce settlement costs, if prices are to […]

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Commercial property vacancy rate rises to 13.5%

25th February 2021

13.5% of commercial properties listed across the country were vacant in the final quarter of last year, according to figures published by GeoDirectory and EY-DKM. The number of vacant properties increased marginally by 0.2% in the fourth quarter, with 28,572 units unoccupied last December.  The findings of the report suggest that it is too soon to determine the […]

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SFA calls for urgent launch of Covid Business Aid Scheme

25th February 2021

Many small businesses will be forced to close and cut jobs if the Government does not quickly launch the Covid Business Aid Scheme (CBAS). That is according to the Small Firms Association, which has called for the €60m in supports aimed at businesses that are ineligible for other Covid supports to be rolled out. “Hundreds […]

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Ulster Bank defends decision around plan to withdraw from Irish market

24th February 2021

The chief executive of Ulster Bank has defended the decision of the bank and its parent NatWest not to give advance warning of its plan to withdraw from the Irish market to staff.   In a written opening statement provided to the Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach, Jane Howard said […]

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Businesses unhappy with Covid plan and seek supports

24th February 2021

Business group Ibec has called for an increase in financial supports for business in the worst impacted sectors of the economy.  In a statement this evening, it said current fixed amount grants are proportionately lower for mid-sized and larger employers that continue to face fixed costs.  The Licensed Vintners’ Association said it was “disappointed” in today’s revised Living […]

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Govt extends key economic supports as restrictions continue

24th February 2021

The Government has said that measures to support business, jobs and employment are to remain in place until the end of June. It follows the announcement that Covid level 5 restrictions are to remain in place across a number of sectors for weeks and in some cases months. The measures include the Employment Wage Subsidy Scheme […]

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Judicial reviews delay Strategic Housing Development

23rd February 2021

A new report has found that the number of units in planned Strategic Housing Developments (SHD) in Dublin that have been delayed or cancelled as a result of judicial reviews has risen tenfold in the last year. Last year 5,802 potential new apartments and houses were impacted by legal challenges to SHDs, compared to just […]

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Central Bank mortgage lending rules keeping house inflation down – ESRI

23rd February 2021

New research by the ESRI has found further evidence that mortgage lending rules put in place by the Central Bank six years ago are helping to keep house price inflation down.  The study by author Kieran McQuinn found that there remains a strong mutually reinforcing relationship between the availability of mortgage credit and house prices here.  He […]

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Cautious optimism pushes consumer sentiment higher

23rd February 2021

Consumer sentiment bounced back in February thanks to cautious optimism about the outlook for the economy, despite the prospect of Covid-19 restrictions lasting for many more months, a survey found today. The country has been back in lockdown for almost two months and the Government has said any reopening will be very gradual. The hospitality […]

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Too early to predict Ulster loan book sale success – Donohoe

22nd February 2021

Minister for Finance Paschal Donohoe has said it is too early to say if the negotiations between Permanent TSB and NatWest turn out to be successful on the possible purchase of a loan book.  It follows the announcement of the phased withdrawal of Ulster Bank from the Republic of Ireland last Friday. While Mr Donohoe […]

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