Business News

Consumer prices rise at fastest monthly pace in two years

9th April 2021

New figures show that consumer prices rose at their fastest monthly pace in two years in March to stand at the same level a year earlier, when the Covid-19 pandemic began to hit Ireland. The Central Statistics Office said the 0.8% monthly rise in March was driven by increased energy, housing and transport costs. The […]

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European rents up 15%, house prices by 28.6% since 2010

9th April 2021

Irish house prices rose in line with the EU average of 28.9% over the past decade, according to figures published today by Eurostat, the EU’s statistical agency.  The figures measure price and rent movements from 2010 until the fourth quarter of 2020.   However, rental prices in Ireland rose by 61.8% over the same period. […]

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What is a global minimum tax and how could it affect companies, countries?

9th April 2021

US Treasury Secretary Janet Yellen has thrown the weight of the US government behind a push for a global corporate minimum tax rate, possibly carving a path to a long-sought deal updating international tax rules for the first time in a generation.  Yellen said this week that she is working with G20 countries to agree […]

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Those on minimum wage hit hard with pandemic job losses

8th April 2021

Minimum wage employees in Ireland are likely to be suffering disproportionately from job losses as almost half work in sectors worst hit by the Covid-19 pandemic, according to new research by the Economic and Social Research Institute. The study, entitled ‘A comparative assessment of minimum wage employment in Europe’, also found that being younger, having […]

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Those on minimum wage hit hard with pandemic job losses

8th April 2021

Minimum wage employees in Ireland are likely to be suffering disproportionately from job losses as almost half work in sectors worst hit by the Covid-19 pandemic, according to new research by the Economic and Social Research Institute. The study, entitled ‘A comparative assessment of minimum wage employment in Europe’, also found that being younger, having […]

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Over €26m spent a day in contactless payments in February

8th April 2021

New figures from Banking and Payments Federation Ireland reveal that 1.6 million contactless payments were made every day in February. February saw a total of 46.2 million contactless payment made over the course of the month worth over €733m.  This marked an increase of 6.5% in volume terms on the same time last year and […]

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Irish mortgage rates still second highest in euro zone – Central Bank

8th April 2021

Rates on Irish mortgages remain the second highest in the euro area, according to the latest figures from the Central Bank.  In February, the average rate on new mortgage agreements was 2.79%. This compares to the euro area average of 1.27%.  This rate was unchanged compared to the previous month but was 0.12% lower than […]

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Pandemic spending drives increase in deficit to €4.17bn in March

7th April 2021

The public finances recorded a deficit of €4.172 billion in March, according to figures published this afternoon by the Department of Finance. This compares to a deficit of €2.535 billion recorded in March 2020. The increase in the deficit is driven by higher current spending in response to the pandemic. The Department of Finance said […]

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20% of SME loans that were on payment breaks are in arrears or need more help

7th April 2021

Around a fifth of loans to small and medium enterprises, to which pandemic payment breaks were applied, need further support or are entering arrears. This is according to the Central Bank in its latest SME Market Report. Just under half of loans to which payment breaks were applied have returned to full payment on extended terms […]

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European Commission approves €60m scheme for Irish SMEs

7th April 2021

The European Commission has approved a €60 million scheme to support small and medium-sized Irish businesses impacted by the Covid-19 pandemic. The ‘Small Business Assistance Scheme for Covid’, will be open to companies in all sectors, except financial institutions and companies operating in the primary production of agricultural products, fisheries or aquaculture sectors. In order […]

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