Business News

Irish services sector expands at fastest rate in more than 20 years

5th August 2021

Inflationary pressures evident in latest purchasing managers’ index data from AIB Irish service sector companies reported the strongest month-on-month growth in business activity in July since August 2000 as lockdown restrictions eased further and the Health Service Executive’s vaccination programme accelerated. The latest purchasing managers’ index (PMI) survey data, published by AIB, shows new services […]

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Nightlife sector criticises ‘inadequate’ Covid response by Govt

5th August 2021

A group representing workers in the nightlife sector has criticised the Government’s response to its reopening, warning that a continued shutdown will result in an upsurge of unregulated events. In a letter to the Taoiseach, Tánaiste and Minister for Arts, the ‘Give Us the Night’ campaign said its industry is the only remaining one without […]

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AIB extending negative rates to all deposits over €1m from October

5th August 2021

The chief executive of AIB has confirmed that the bank will be extending negative interest rates to all customers with deposits in excess of €1 million from later this year. At the moment, AIB levies negative interest rates on personal customer deposits in excess of €3 million and on business customers with deposits greater than […]

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Strong growth in business activity – AIB PMI

4th August 2021

Irish service sector companies reported the strongest growth in business activity since August 2000 in July, according to the latest AIB PMI survey. New business expanded at the fastest rate since January 2016, while incomplete workloads rose the most in over two decades despite faster workforce growth. The latest survey data also signalled rising inflationary […]

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Minister starts process of selling State stake in Bank of Ireland

4th August 2021

The Minister for Finance has started the process of selling the State’s shareholding in Bank of Ireland. According to a filing at the London Stock Exchange, the Government’s stake in the bank has fallen from 13.95% to just below 13%. Paschal Donohoe announced in June that he intended to start the process of selling the […]

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Number on PUP at lowest level since pandemic began

4th August 2021

The number of people in receipt of the Pandemic Unemployment Payment is just under 163,400 this week – the lowest level since the pandemic began. The number receiving the payment dropped almost 29,000 on last week, as people returning to work closed their claim. This week, the Department of Social Protection issued weekly payments valued […]

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Bank of Ireland reports strong recovery in H1

3rd August 2021

Bank of Ireland is reporting a strong recovery in its business performance with a €465 million underlying profit before tax, according to the bank’s interim results for the first half of the year. The bank reports a net credit impairment charge of €1 million at the end of June compared to €937 million in H1 […]

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Manufacturing sector maintains rapid growth in July but cost pressure remain

3rd August 2021

The manufacturing sector continued to grow at a rapid pace in July, albeit at a slower rate than the previous two months. According to AIB’s latest monthly check on conditions in the manufacturing sector, new order growth hit another record high for the third month running. Output, while up, was partly constrained by ongoing supply […]

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Used cars holding value and may even be appreciating – DoneDeal

3rd August 2021

Used cars in Ireland are now holding their value better than any time in the recent past, DoneDeal claims in its latest Car Price Index. The car website cites analysis undertaken by the TCD and NUIG Economist Dr Tom Gillespie which shows that limited supply and intense demand has meant that cars are currently holding […]

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In-store spending on credit and debit cards jumps in June – Central Bank

30th July 2021

There was a fall in online spending as consumers returned to shops and spent more on their credit and debit cards in-store in June, according to statistics from the Central Bank. Spending on cards in-store increased by 10%, or €304 million, last month compared to May, while online spending fell by 5%, or €133 million. […]

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