Business News

Setback for banks’ Revolut-style payment app application as CCPC rejects it as ‘invalid’

22nd January 2021

A plan by the main banks here to develop a person to person money transfer app to rival Revolut and N26 has been dealt an early set back, after the competition regulator rejected its application for clearance due to insufficient information. Two weeks ago AIB, Bank of Ireland, KBC Bank Ireland and Permanent TSB applied […]

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Salaries for in-demand skills to increase by up to 5%

22nd January 2021

Salaries for in-demand and emerging niche skill sets will increase by up to 5% this year, according to the Morgan McKinley Irish Salary Guide. The new guide shows that most salaries are likely to remain flat throughout 2021. Overall, in 2020, the market for professional talent was split 45% permanent and 55% temporary. According to Morgan McKinley, this […]

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Vaccine roll-out key to economic growth this year – Central Bank

22nd January 2021

The Central Bank has forecast that growth in the economy will pick up in the second half of this year, if there is a successful roll-out of the Covid-19 vaccination programme. It also warns, however, that despite the trade deal struck between the EU and the UK, barriers to trade and the movement of people […]

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Davy upgrades economic growth forecasts for 2021

21st January 2021

Davy has upgraded its growth forecast for the economy for this year on the back of buoyant exports and multinational sector output, especially from the pharmaceutical and information and communications technology sectors. The stockbrokers have pencilled in GDP growth of 4.8% for this year, an increase from its earlier prediction of 3.8%. It is also predicting […]

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Delivery costs for Northern Ireland-Britain trade set to rise, hauliers say

21st January 2021

The cost of transporting goods to Britain from Northern Ireland is set to rise as a result of the new post-Brexit regulatory border between the two parts of the United Kingdom, haulage firms said today, with one planning to hike prices by 12%. While Britain left the EU’s single market and customs union on Dec 31, […]

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Job vacancies remain 23% below pre-Covid levels

21st January 2021

Job postings for the final quarter of last year were 23% lower than the same time in 2019, according to figures published by e-recruitment platform IrishJobs. Despite being in the grip of a third wave of Covid-19 cases, the jobs index – which analyses quarterly vacancy data – indicates that Ireland’s employment market is showing positive signs […]

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EU sets out plans to built the power of the euro

20th January 2021

Europe is too vulnerable to the global power of the dollar and must ensure the international standing of its euro currency to challenge US dominance, the EU executive has said. The European Commission made its pitch in a plan that sets out ways to help build the power of the euro and chip away at […]

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Residential property prices saw a return to growth in November – CSO

20th January 2021

Residential property prices rose on an annual basis for the first time in six months in November after disruption from the initial Covid-19 lockdown of the economy halted seven years of unbroken annual growth.  New Central Statistics Office show that residential property prices increased by 0.2% nationally in the year to November – the first […]

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Dublin Port records third busiest year in 2020 despite Covid challenges

20th January 2021

The volume of cargo passing through Dublin Port in the last three months of 2020 rose by 7.6% as pre-Brexit stockpiling, Christmas trading and a bounce caused by a relaxation of Covid-19 restrictions converted into higher demand for goods.  Across the year as a whole though, the volume of goods handled by the port fell 3.4%, […]

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ITIC calls for more support for tourism industry

19th January 2021

The Irish Tourism Industry Confederation has outlined nine key policies which it says are needed to safeguard the industry as it continues to deal with the harsh impact of the Covid-19 restrictions.  The tourism industry here took an 85% hit in revenue last year with the loss of 160,000 jobs due to Covid-19. The Irish […]

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