Business News

Demand for bank loans falls sharply amid virus crisis – Central Bank

11th May 2020

New research from the Central Bank shows that demand for bank loans has fallen sharply.   The study, published on the Central Bank’s website, shows that from the middle of March enquiries about loans from both personal customers and businesses fell as containment measures to tackle Covid-19 were introduced.   Mortgage enquiries fell by almost […]

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€240 billion in low-cost credit for eurozone member states approved

11th May 2020

Eurozone ministers have formally approved €240 billion in credit lines to help European countries meet the crippling costs of fighting the coronavirus outbreak. The plan will be run by the eurozone’s rescue fund, the European Stability Mechanism, and is a first big step for the EU’s joint effort to lift an economy projected to contract […]

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Unemployment rate jumps to record high of 28.2% in April – CSO

11th May 2020

The unemployment rate for April, as measured by the Covid-19 adjusted measure, jumped to a new record high of 28.2%, new figures from the Central Statistics Office show today The CSO said the Covid-19 crisis continued to have a significant impact on the labour market here in April.  The new Covid-19 Adjusted Unemployment rate rose […]

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Employees’ ability to work from home could limit job losses – ESRI

8th May 2020

More workers should be facilitated to work from home in order to improve their chances of retaining their jobs, according to the Economic and Social Research Institute.  In their report “Who Can Work From Home in Ireland”, authors Paul Redmond and Seamus McGuinness note that 800,000 workers are currently unemployed or furloughed because of Covid-19. […]

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Revenue reveals further cashflow help for businesses

8th May 2020

Revenue has announced further measures to help companies with cashflow difficulties through the coronavirus crisis. The tax collector has suspended the charging of interest on late payments for May and June PAYE liabilities due in June and July from small and medium sized firms (SMEs) with turnover of less than €3m. It has also suspended […]

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Almost 5,000 new homes built in first quarter – CSO

8th May 2020

New figures from the Central Statistics Office show that a total of 4,986 new homes were completed in the first quarter of this year, an increase of 17.2% on the same time last year. Construction sites were closed in the latter half of March due to Covid-19 restrictions and so the impact on completions will […]

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Almost 5,000 new homes built in first quarter – CSO

8th May 2020

New figures from the Central Statistics Office show that a total of 4,986 new homes were completed in the first quarter of this year, an increase of 17.2% on the same time last year. Construction sites were closed in the latter half of March due to Covid-19 restrictions and so the impact on completions will […]

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China exports see surprise 3.5% jump in April, imports fall

7th May 2020

China’s exports saw a shock 3.5% rise in April despite the global impact of the coronavirus pandemic, official figures showed today, but analysts warned of weakness ahead as key markets suffer downturns.  The brewing threat of a renewed trade war with the US could also pose a problem, observers said. Imports fell 14.2% on-year, a […]

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China exports see surprise 3.5% jump in April, imports fall

7th May 2020

China’s exports saw a shock 3.5% rise in April despite the global impact of the coronavirus pandemic, official figures showed today, but analysts warned of weakness ahead as key markets suffer downturns.  The brewing threat of a renewed trade war with the US could also pose a problem, observers said. Imports fell 14.2% on-year, a […]

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Economy forecast to contract by 8% in 2020

7th May 2020

Ireland’s economy will contract by 8% in 2020 and expand again by 6% in 2021 as the coronavirus pandemic takes its toll, according to the European Commission’s latest economic forecast. The economic uncertainty has been compounded by “specific” Irish factors, such as Brexit and changes in international taxation, the outlook says. Overall, Ireland’s unemployment, deficit and debt levels […]

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