Business News

Consumers spent €600 million using contactless payments in May

23rd June 2020

The impact of Covid-19 on how consumers are spending is recorded in the latest figures from the banking sector. In May, consumers spent €600 million using contactless payments, the highest monthly figure on record. The figures were compiled by Banking and Payments Federation Ireland. Every day in May, more than €19 million was spent using […]

Read More

Ibec calling for ‘dramatic intervention’ to save businesses

23rd June 2020

A Government fund aimed at helping small and medium-sized enterprises to reopen and rebuild – as the Covid-19 pandemic restrictions are eased – needs to be at least quadrupled in size, according to employers’ group Ibec. Ibec also said that loans with 100% State-backed credit guarantees and an interest rate holiday of 12 months are required if small […]

Read More

50% of restaurants face closure without emergency grant aid package

22nd June 2020

A new report warns that up to 50% of restaurants in Ireland face closure unless an emergency grant aid package is issued by the Government.  The latest Restaurants Association of Ireland report also warns that recently promoted staycations or weekends away will not be an option if the tourism and hospitality industry is not supported. […]

Read More

Crucial six months ahead for SME sector

22nd June 2020

Decisions taken in the next six months will impact the small and medium enterprise sector for the next five years, according to a treasury specialist who works closely with the sector. John Finn, Managing Director of Treasury Solutions – which helps businesses deal with a range of issues including cash flow, lending and currency management […]

Read More

Numbers on Pandemic Unemployment Payment fall again

22nd June 2020

465,900 people are now receiving the Covid-19 Pandemic Unemployment Payment – a drop of 32,800 over the last week. This is according to the latest figures from the Department of Employment Affairs and Social Protection today.  At the peak of the Covid-19 crisis, 598,000 people who had lost their jobs were claiming the Pandemic Unemployment Payment. Since […]

Read More

Air freight rates head back to earth as virus-driven boom cools

19th June 2020

An air cargo boom driven by demand for protective gear against the coronavirus has peaked. Rates, while still 50% above normal levels, are falling in a worrying trend for airlines relying on freight revenue in the absence of passengers.  Declining prices may deal a blow to carriers that are scrambling to move cargo to offset […]

Read More

EU ready to go it alone on taxation of digital firms

19th June 2020

France said a US decision to quit global talks on how to tax big digital firms such as Google, Amazon and Facebook was a “provocation”. This comes as the European Union said it could impose taxes even if no deal was reached by the end of the year.  The latest trade row was ignited after the […]

Read More

Ireland to push for more of EU Covid-19 recovery funding

19th June 2020

Ireland will push to receive more of the EU’s coronavirus €750bn recovery fund at a virtual summit of EU leaders, which gets under way this morning. The Government has joined a number of other member states, including Belgium, in pushing for a revision of the mechanism being used to work out how much individual countries […]

Read More

Property sales slow by 40% in April due to Covid-19 – CSO

18th June 2020

The number of property transactions slowed dramatically in April, according to the latest figures from the Central Statistics Office. House prices also fell last month but are marginally ahead of where they were a year ago, the CSO figures show. The CSO’s Residential Property Price Index shows that house prices nationally were 0.5% higher in […]

Read More

‘The financial system is stronger than a decade ago, but its resilience is not limitless’ – Donnery

18th June 2020

The Deputy Governor of the Central Bank has said while the financial system is stronger than a decade ago, its resilience is not limitless. Sharon Donnery made her comment as she addressed an online presentation hosted by the Institute of International and European Affairs. She said she recognised the resilience of Irish households, businesses and the […]

Read More