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EU Economy Commissioner confident Ireland will sign up to new tax deal

The EU’s Economy Commissioner has said he is confident there is “a chance to find a shared way” that would see Ireland sign up to a global tax ...

Thousands begin return to office as Covid-19 measures ease

Tens of thousands of workers across the country will begin returning to their offices and places of work from today, as Covid-19 restrictions ease further. Rules around organised ...

Public services a priority in Budget 2022 – McGrath

Minister for Public Expenditure Michael McGrath has said there will be a number of key objectives in framing Budget 2022. Speaking on RTÉ’s This Week programme, Mr McGrath ...

Staff shortages affecting hospitality industry

Hospitality was one of the industries worst affected by the Covid crisis, or to put it in the words of Adrian Cummins of the Restaurant Association of Ireland, ...

Consultation launched to strengthen rights of employees

A new consultation has been launched on strengthening the rights of employees in Ireland. Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar is seeking views on ...

State will spend €41bn on pandemic supports, report finds

The State will end up spending €41 billion on pandemic supports, according to a paper from the Tax Strategy Group. The paper also says future changes to the ...

Family businesses plan to hire more staff

Family run businesses employ nearly 1 million people in Ireland – and collectively are one of the biggest employers in the country. The National Family Business Sentiment Report ...

11% of investors hold crypto-assets, including Bitcoin

Most investors are ‘going digital’, with new research revealing that 56% of those surveyed make investments online. The survey commissioned by the Competition & Consumer Protection Commission (CCPC) ...

Property price growth hits 3 year high of 8.6% – CSO

Residential property prices rose on an annual basis by 8.6% – the fastest annual pace in three years – in July, according to the latest figures from the ...

Govt debt could end up on ‘unsustainable path’ – IFAC

The Irish Fiscal Advisory Council has said the economy is recovering ‘swiftly’ but government spending plans for the upcoming Budget are “at the limit of what is prudent”. ...

Central Bank has not approved shared equity scheme despite Minister’s claim

Earlier this month, Housing Minister Darragh O’Brien told Prime Time that the Government’s proposed shared equity scheme, a core part of the recently published Housing For All plan, ...

Fund approval will see Credit Unions investing in social housing

The Central Bank has approved a new fund that will facilitate credit unions to get involved in the delivery of social and affordable housing around the country. The ...

Govt should abandon plans for tax cuts in upcoming Budget – ICTU

The Irish Congress of Trade Unions (ICTU) has said the Government should abandon its plans for tax cuts in the upcoming Budget and instead prioritise increases in public ...

College students struggling to pay living expenses, survey finds

Nearly half of all college students say they struggle to afford living expenses, according to a survey carried out by the Irish League of Credit Unions (ILCU) and ...

Ireland to reach pre-pandemic employment levels by 2023, Donohoe says

The Minister for Finance has said that forecasts now indicate the country will get back to pre-pandemic levels of employment and broader economic performance by around 2023, but ...

Construction firms see further sharp rises in activity – Ulster Bank PMI

The construction sector reported another month of rapid growth in August, the latest Ulster Bank Construction Purchasing Managers Index shows, as it continued to benefit from improvements in ...

Economy performing ahead of expectations – Varadkar

Tánaiste and Minister for Enterprise Leo Varadkar said today that the economy is “actually ahead of where we thought we would be”. Mr Varadkar said he still believes ...

Are consumer prices going to keep on rising?

No sooner had the first Covid-19 vaccine jabs been administered when talk turned to the risk of price inflation accompanying an impending recovery in economies globally from the ...

Irish shoppers increase use of electronic payments

Irish consumers’ use of online and mobile payment methods has continued to increase despite the easing of restrictions on physical retail, according to Banking and Payments Federation Ireland. ...

Inflation rate rises to near ten-year high in August – CSO

The annual rate of inflation rose by 2.8% in August, its biggest increase in almost ten years. The latest figures from the Central Statistics Office show higher fuel ...

ECB trims emergency support, but insists ‘no tapering’

The European Central Bank has today raised its forecast for economic growth in 2021, as the euro zone recovery gathers pace following the easing of many pandemic curbs. ...

Gender gap in graduates’ pay expectations – survey

Female students have lower salary expectations than their male counterparts across a number of sectors, according to research by Universum, which is part of IrishJobs.ie. The study found ...

Economy to return to pre-Covid levels early next year – NTMA CEO

The chief executive of the National Treasury Management Agency, Conor O’Kelly, has told an audience of investors that the economy is set to return to pre-pandemic levels of ...

No changes to Budget framework despite better tax receipts – Donohoe

The Minister for Finance has said he is not looking at making any further changes to the framework for October’s budget beyond what was set out in the ...

1 in 5 SMEs expect to pass on higher costs

Over a fifth of SMEs expect to pass higher prices on to their customers as a result of inflationary pressures, according to a survey of SMEs by the ...

Govt delays PUP move to Jobseekers payments to October

The Government has said that no recipients of the Pandemic Unemployment Payment (PUP) will be transitioned to Jobseeker payments before October 22. It had planned to move recipients ...

Euro zone growth revised up as consumer spending rebounds

The euro zone economy grew by more than initially forecast in the second quarter of the year, revised data from the EU’s statistics office showed. Today’s figures showed ...

ISIF makes €450m gain in H1 as it plans green investment

Ireland’s €9.2 billion sovereign investment fund has almost doubled its total investment gains in eighteen months. The Ireland Strategic Investment Fund – which has a mandate to invest ...

New Covid scheme for business opens to applicants

A new targeted Government funded support scheme, aimed at assisting vulnerable but viable businesses whose earnings have collapsed due to Covid-19 restrictions, has opened for applications. Under the ...

Covid costs Ireland’s tourism sector an estimated €13.4bn

The Covid-19 pandemic has cost the tourism sector here €13.4bn and 100,000 jobs have been lost as a result, a new report claims. The study by the Irish ...

European banks still booking profits in tax havens – report

Top banks in Europe continue to use tax havens to book chunks of profits, a trend that has changed little since 2014 despite country-by-country disclosures becoming mandatory, the ...

First EI in-person Enterprise Ireland trade mission since pandemic onset

Enterprise Ireland’s first in-person trade mission since the onset of the Covid pandemic starts today in London, before moving on to Paris and Berlin. The three day mission ...

Call for €10 rise in core social welfare rates in budget

An increase of €10 per week in core social welfare rates, enhancing the support grant for carers and a single rate state pension are among the measures being ...

Campaign under way to tackle hospitality labour shortage

Fáilte Ireland is launching a campaign aimed at attracting workers into the tourism and hospitality industry. The recruitment marketing and awareness campaign is targetted at both jobseekers and ...

Services sector continues to grow, expansion rate slows

The Irish services sector continued to grow strongly in August, according to AIB’s Purchasing Managers’ Index. The monthly measure of activity in the sector shows further rapid increases ...

Quarterly GDP up 6.3% in second quarter as Covid curbs ease

New figures from the Central Statistics Office show that the economy – as measured by Gross Domestic Product – grew by 6.3% in the second quarter of 2021 ...

Govt to launch multi-billion euro housing strategy

The Government will today launch its housing plan titled Housing for All, with the multi-billion euro strategy set to detail guaranteed spending plans for the next five years. ...

Higher debt and deficits increase risks to the economy – Governor

The Governor of the Central Bank has warned that higher debt and deficit projections out to the middle of the decade increase the risks to the public finances ...

Jobless rate including Covid-19 payouts falls to 12.4% – CSO

The unemployment rate, when adjusted to include those on the Pandemic Unemployment Payment, stood at 12.4% in August. The latest release from the Central Statistics Office shows the ...

Manufacturing loses momentum as bottlenecks constrain output

Irish factory activity lost some momentum in August with growth in output, new orders, exports and purchasing all lower than the previous month, a survey showed today. The ...

Broad welcome from business groups for reopening update

There’s been a general welcome for the measures announced by the Taoiseach about the next phase of reopening of the economy and society. Business group Ibec said the ...

Calls for continued supports for hotels and restaurants

The Restaurants Association gave a cautious welcome to the Taoiseach’s announcement on the easing of Covid restrictions. Chief executive Adrian Cummins said the measures went a long way ...

State further reduces stake in Bank of Ireland

The Government has reduced its stake in Bank of Ireland by a percentage point. In a statement to the stock exchange, Bank of Ireland said the percentage of ...

Sinn Féin leader says ‘build to rent’ scheme would worsen housing crisis

Sinn Fein leader, Mary Lou McDonald TD has stated that if planning is approved for the 1,614 ‘build to rent’ apartments on the grounds of Clonliffe College in ...

Euro zone economic sentiment eases in August

Euro zone economic sentiment eased more than expected in August from a record high in July, hit by a sharp drop in optimism in France and the Netherlands, ...

Consumer confidence rises but business sentiment slips – Bank of Ireland

Bank of Ireland’s latest Economic Pulse shows that consumer confidence rose in August but business sentiment slipped. Bank of Ireland said the Consumer Pulse was in catch-up mode ...

People may be more conservative in how they use Covid savings – research

People are adopting a more conservative approach to using savings build up during the Covid-19 pandemic than anticipated, new research from Permanent TSB Bank and research company Kantar ...

Government now faces tricky dilemma on PUP wind-down

When the history of Ireland’s handling of the pandemic is written in years to come, the economic impact and the response of the Government to it will be ...

People waiting for right opportunity to get new job – Indeed

Around three in ten workers surveyed by recruitment website Indeed said they were open to new employment opportunities but are not actively looking. The survey showed that 7% ...

Value of mortgage approvals at a ten-year high in July – BPFI

Just over 53,500 mortgages to the value of almost €13.2 billion were approved in Ireland in the 12 months to the end of July, according to Banking and ...

Faulty goods and services top CCPC query list

Issues relating to faulty goods and services topped the list of queries to the Competition and Consumer Protection Commission in the first six months of this year. There ...

Cyberattacks on the rise over last year – survey

90% of Irish IT security experts say they have seen a rise in disruptive cyberattacks in the last year, a new survey has found. The study also found ...

Rise in consumer confidence here in August not repeated elsewhere

Irish consumer sentiment improved marginally in August while confidence dipped in the US, UK and euro area. The latest consumer sentiment index from KBC Bank Ireland increased to ...

Marginal increase in commercial vacancy rate in second quarter of 2021

The vacancy rate in commercial properties around Ireland remained relatively steady in the second quarter of 2021. According to the latest GeoView Commercial Vacancy Rates Report from EY ...

Number of PUP recipients falls below 150,000 for first time

The number of people due to receive the Pandemic Unemployment Payment (PUP) this week has fallen by less than 4,000 when compared to last week. 149,436 will get ...

Ibec calls for more autonomy in reopening road map

The chief executive of Ibec has told the Government it is vital that the next road map to reopening the economy is less prescriptive in nature than previously. ...

Do we really want to return to our old ways of working?

Opinion: the way we work has implications for our psychological well-being and social relationships within and beyond the workplace After 18 months of living with Covid-19, this autumn ...

80% of retailers in rent arrears with landlord – Retail Excellence

80% of retailers are in rent arrears with at least one landlord, a new survey by industry representative body Retail Excellence has revealed. The research also found that ...

Health insurance, pensions among benefits workers want

Health insurance, pensions and paid sick leave are among the top benefits sought by employees from their employers, new research has revealed. However, the provision of support for ...

Grocery market declines by 3.9% as indoor dining resumes – Kantar

The Irish grocery market declined by 3.9% during the 12 weeks to August 8, as life continued to edge back to normal and indoor dining in restaurants, pubs ...

ECB still more worried about inflation being too low – Schnabel

This year’s surge in inflation in the euro zone is still seen as temporary, even if prices continue to rise from already high levels, European Central Bank board ...

AIB paving way for social bonds

AIB is preparing for the issuance of a Social Bond which it says will go towards financing community programmes across the country. The bank has launched a Social ...

Pensions gap widens as pandemic deepens the divide

Psychologists say we have very little appreciation or concept of ourselves in the future. In other words, our future selves are strangers to each of us. This lack ...

Govt needs to strengthen role of CCPC, says SF’s Doherty

Sinn Féin’s finance spokesperson, Pearse Doherty, said the Government needs to strengthen the hand of the Competition and Consumer Protection Commission (CCPC) and bring forward legislation to allow ...

Motor insurers to introduce new compliance measures

Six motor insurance companies have signed legally binding agreements to reform their internal competition law compliance programmes, following an investigation by the Competition and Consumer Protection Commission. However, ...

‘Real opportunity’ to make blended working part of life, says Varadkar

A new report on the right to request remote work has been published with the Tánaiste saying: “We have a real opportunity now to make remote and blended ...

Business leaders feeling more optimistic about economy

Almost two thirds of business leaders are feeling optimistic about the Irish economy, more than twice the level recorded at the start of the year. According to a ...

Vaccine status issue may delay some offices reopening survey finds

Legal restrictions that prevent employers from finding out the coronavirus vaccine status of employees risk delaying the re-opening of offices and are costing businesses money, new research has ...

Most consumers expect house prices to continue rising

70% of Irish consumers expect house prices to rise over the next three years, according to a new survey by KBC Bank Ireland. Just 12% said they expect ...

4,400 PUP recipients closed claims this week

Just over 153,000 people received the Pandemic Unemployment Payment this week, according to figures from the Department of Social Protection. Around 4,400 PUP recipients closed their claims in ...

Govt approves legislation to establish Corporate Enforcement Authority

The Government has approved the publication of the Companies Bill 2021, which will transform the Office of the Director of Corporate Enforcement into a statutory and independent agency ...

The language barrier in the workplace

Over 60% of non-native English speakers working in Ireland say they need to work harder than their Irish peers to progress in the workplace, according to research published ...

Affordability sustains harmful use of alcohol – Alcohol Action Ireland

An alcohol price survey by Alcohol Action Ireland confirms “the exceptional affordability of alcohol to every day shoppers” and reaffirms the necessity for the commencement of minimum pricing ...

Imports from NI jump sharply since Brexit – CSO

The total value of imports from Northern Ireland into the Republic jumped by more than three quarters in the first six months since Brexit compared to the same ...

Outbreaks occurring in workplaces and at social gatherings – HSE

More than 100 Covid outbreaks are occurring each week, most of which are happening at social gatherings and in workplaces, the National Lead for Testing and Tracing at ...

Concerns at increasing demands on electricity grid

Ireland’s electricity grid is facing an increased prospect of blackouts this winter as emergency plans to import power generators have stalled, a professor of energy engineering at University ...

Euro zone bond yields edge down as global sentiment turns south

Borrowing costs in Germany, the euro zone’s benchmark bond issuer, dipped on Monday to their lowest level in over a week as latest data from the world’s biggest ...

House price rises – is there any let up in sight?

At the onset of the pandemic last year, the property market went into hibernation and there were forecasts of prices falling, possibly by up to 12%. How wrong ...

Price of homes up over 95% from low point in 2013 – CSO

Residential property prices rose again in June, according to the latest figures from the Central Statistics Office. The price of houses and apartments nationally rose by 6.9% in ...

Consumer price inflation breached 2% in July – CSO

Consumer prices in July were 2.2% higher than they were in the same month last year, according to the Central Statistics Office. It is the first time in ...

50,000 housing units needed every year to meet demand – report

Close to 50,000 housing units would have to be built here every year for the coming decades in order to keep up with demand. That’s according to a ...

Record number of daily contactless payments in June

2.4 million contactless payments were made every day in June of this year, the highest daily figure on record. New data from the Banking and Payments Federation Ireland ...

Fixed rates account for bulk of new mortgage arrangements here

Lenders in the Irish market continued to charge among the highest interest rates on mortgages in June. According to figures from the Central Bank, the average rate on ...

Household net worth hits new high, savings increase

Irish household net worth reached a record high of €883bn in the first quarter of this year due to an increase in savings and deposits, according to new ...

Weekly PUP numbers down again ahead of phased payment reduction next month

The number of people in receipt of the Pandemic Unemployment Payment this week stood at 157,712 – a drop of around 5,700 on last week. The Department of ...

Home care sector facing ‘urgent’ recruitment shortage

A group representing the home care sector has said it is facing a recruitment crisis and has called on the Government to allow for the hiring of workers ...

Record amount of corporation tax collected last year

The high proportion of tax revenue coming from corporation tax represents “a significant risk to the public finances,” according to a report published by the Department of Finance ...

Scarce housing supply highlighted as average rents rise

Average rents for residential properties rose by 5.6% nationally between April and June, according to the latest quarterly rental report from the website Daft.ie. The report shows rents ...

Covid adjusted jobless rate falls to pandemic-low of 13.5%

The monthly unemployment rate in July was 6.5%, according to the latest figures from the Central Statistics Office. When those on the Pandemic Unemployment Payment are included, the ...

Over €30bn spent on social welfare payments last year

€30.6 billion was spent on social welfare payments last year, an increase of 46% compared to 2019 – according to new figures from the Department of Social Protection. ...

Construction activity increased again in July, inflation hits record high

There was a substantial increase in construction activity once again in July, according to the latest Construction Purchasing Manager’s Index (PMI) from Ulster Bank. While the index which ...

Most employees have not declared tax on employer shares

74% of employees who hold shares through their employer have not declared the tax they owe, according to a new survey by Taxback.com. The survey asked over 1,500 ...

Three quarters of all businesses now operational – InterTradeIreland

Most companies on both sides of the border are firmly in recovery mode as Covid-19 restrictions ease, according to InterTradeIreland’s latest quarterly business monitor. Three quarters of all ...

Post-pandemic path to global economic health in sight

Financial and health imperative will be to invest in vaccinating the entire world The northern hemisphere is sweating through a second long summer of Covid-19. As the Delta ...

Updates to hospitality guidelines on outdoor events being discussed

The Cabinet sub-committee on Covid-19 will meet today when it is expected to discuss updates to hospitality industry guidelines on outdoor events. It follows questions raised over an ...

Inflationary pressures impact food and drink sector

Irish food and drink businesses are experiencing inflationary pressures across most cost headings, according to Food Drink Ireland (FDI) the Ibec group representing the food and drink sector. ...

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

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 ...

Nightlife sector criticises ‘inadequate’ Covid response by Govt

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 ...

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

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 ...

Strong growth in business activity – AIB PMI

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 ...

Minister starts process of selling State stake in Bank of Ireland

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 ...

Number on PUP at lowest level since pandemic began

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 ...

Bank of Ireland reports strong recovery in H1

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 ...

Manufacturing sector maintains rapid growth in July but cost pressure remain

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 ...

Used cars holding value and may even be appreciating – DoneDeal

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 ...

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

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 ...

Construction sector bounces back in second quarter – CSO

The construction sector bounced back in the second three months of this year with the lifting of Covid-19 restrictions, according to the Central Statistics Office. The completion of ...

Over 1,000 complaints to FSO were pandemic related with business interruption insurance dominating

The Financial Services Ombudsman said his office had to date received 1,051 complaints arising from the circumstances surrounding the Covid-19 pandemic. 180 of them related to business interruption ...

Best first half for .ie domain registrations – report

A total of 33,815 new .ie domains were registered in the first six months of 2021, according to the latest .IE Domain Profile Report. That was up 1.6% ...

NAMA made €20m profit in first three months of 2021

The National Asset Management Agency recorded a €20m profit in the three months to the end of March, according to accounts submitted to the Oireachtas. The State body ...

Retail sales rose 3.3% in June, CSO figures show

Retail sales volumes grew 3.3% in June compared to the previous month after restaurants and bars were allowed to serve customers outdoors for the first time this year. ...

Numbers receiving PUP at lowest level since payment was introduced

The number of people receiving the Pandemic Unemployment Payment (PUP) is now at its lowest level since the introduction of the Government support in March 2020. There will ...

Co-operative housing delivers record 454 homes in 2020

The national organisation promoting and developing co-operative housing in Ireland said it delivered 454 homes last year, despite the challenges posed by Covid-19. Co-operative Housing Ireland said that ...

Banker accountability rules may take further 18 months, Donohoe says

Regime will require firms to set out who makes decisions and where responsibility lies It may be a further 18 months before long-planned new rules are in place ...

Personal injuries claims numbers see big fall – PIAB

The number of claims made to the Personal Injuries Assessment Board decreased last year, mainly as a result of the Covid-19 pandemic, while there was also a reduction ...

Mortgage approvals and drawdowns continue to rise

The number of mortgages being approved and drawn down continue to rise, according to the latest figures from Banking and Payment Federation Ireland. In the month of June, ...

75% of home building fund committed to projects

Loan approvals by Home Building Finance Ireland – the Government initiative set up to fund the delivery of new homes – amounted to €539m by the end of ...

Contact tracing change to indoor dining regulations – RAI

Indoor dining in restaurants and cafes resumes today for the first time since last December, with many pubs not having opened their doors since March last year when ...

Consumer and business sentiment down slightly in July but still above pre-pandemic level

Consumer and business sentiment, as measured by Bank of Ireland’s Economic Pulse, dipped slightly in July but was well up on the situation a year ago. At 89.3, ...

5 things you need to know as indoor hospitality reopens

Restaurants, cafés and bars can reopen their doors for indoor eating and drinking today, operating under strict new public health regulations. Operational guidelines for the hospitality industry were ...

Permanent TSB agrees potential deal for Ulster Bank loans

Shares in Permanent TSB soared over 15% today after it announced a potential deal worth about €7.6 billion to buy some elements of Ulster Bank’s business here. The ...

Final meetings on indoor dining rules

Final meetings to agree the legal rules for indoor dining will take place this morning. It is hoped the regulations will be published later today followed by the ...

Consumer confidence dips marginally from June’s high

Irish consumer confidence dipped marginally in July from the two year high recorded in June, according to the latest consumer sentiment index from KBC Bank Ireland. A still ...

Guidelines on indoor dining to be outlined

Government guidelines on how indoor hospitality will operate from Monday are due to be published shortly. The new measures will allow those who are vaccinated against Covid-19, or ...

Central Bank seeks to end loyalty penalty for car and home insurance customers

The Central Bank has recommended a ban on home and motor insurance customers being charged a loyalty penalty the longer they remain with an insurance provider, a practice ...

PUP numbers at lowest level since March 2020

New figures from the Department of Social Protection show that the number of people getting the Pandemic Unemployment Payment are at the lowest level since early March 2020. ...

Covid spending to top €30 billion by end of year

Minister for Public Expenditure and Reform Michael McGrath will tell his Government colleagues this morning that Covid spending over a 22 month period to the end of this ...

No time limits on indoor dining under reopening plans

There will not be any time limits for those allowed to eat and drink inside pubs and restaurants under guidelines agreed with the hospitality sector this evening. Closing ...

EU to set up anti money-laundering agency

The EU is to set up a stand-alone agency to crack down on money laundering across Europe where major banks have been hit by a wave of dirty ...

Talks on reopening indoor dining for fully vaccinated

Representatives from the restaurant and bar sector will this evening meet with Government officials as work continues on guidelines ahead of the anticipated reopening of indoor hospitality next ...

New stamp duty rules for bulk investors signed into law

President Michael D Higgins has signed into law measures that will allow for the taxation of institutional investors who buy homes in bulk. In a bid to clamp ...

Govt approves drafting of bill to cap moneylender rates

The Government has approved the drafting of a bill which will introduce a cap on the interest rates that moneylenders can charge. The legislation proposes two rate caps, ...

Euro zone bond yields fall ahead of ECB policy meeting

Euro zone government bond yields fell on Monday ahead of Thursday’s policy meeting of the European Central Bank (ECB), while concerns about the Delta variant of the coronavirus ...

Rise in new companies registered in first half of year

Almost 14,000 new companies were registered in Ireland in the first half of the year, up 42% on the same period in 2020 – according to CRIF Vision ...

A heatwave hits the economy

It’s not just temperatures which have shot up this week. The Central Statistics Office (CSO) confirmed that the economy, or at least parts of it, is going through ...

Concern at Govt plans to run deficit of almost 3%

The Chairman of the Irish Fiscal Advisory Council has expressed concern at the Government plans to run a deficit of almost 3%, which would result in a modest ...

Consumers feel safer going to restaurants, survey shows

Consumers now feel safer going to restaurants, hotels and attending in-person events, according to a new survey from Deloitte. Their monthly ‘Consumer Tracker’ survey tracks Irish consumers’ attitudes ...

Appetite for saving money declines as economic reopening gather pace

There are indications in Bank of Ireland’s latest Savings and Investment Index that appetite for saving money is declining as the economy continues to gradually reopen. In May ...

Donohoe ‘committed’ to retaining low corporate tax rate

Minister for Finance Paschal Donohoe has said he is “so committed” to retaining Ireland’s low corporate tax rate that he is not willing to sign up to a ...

Two thirds of parents struggle with back to school costs

Almost two thirds of parents surveyed by the Irish League of Credit Unions for its annual back to school survey say that covering the cost of sending a ...

Banks spend €3bn on delivering digital services – BPFI

Retail banks here have collectively spent over €3 billion in the past five years on delivering new digital services for customers, according to the Banking & Payments Federation ...

Insurance report shows wide disparity in legal costs

The Central Bank has published data on employers’ liability, public liability and commercial property insurance for the first time. The information will form part of the National Claims ...

26% of small landlords plan to leave rental market

Half of tenants surveyed by the Residential Tenancies Board say they are spending more than 30% of their net income on rent, with 20% of tenants in Dublin ...

Central Bank urges action on long term mortgage arrears

The Central Bank has said more action is needed from mortgage lenders to deal with long term mortgage arrears. Deputy Governor Ed Sibley said there are wider issues ...

Taoiseach says public must ‘buy into’ hospitality rules

The Taoiseach has said compliance with new rules around indoor dining is something that public will have to “buy into”. His comments come ahead of a meeting between ...

IDA Ireland says investments close to 2019 levels

Foreign direct investments into the country during the first half to the year returned to levels close to those seen at the end of 2019, IDA Ireland said ...

Central Bank says risks of market abuse have risen

The Central Bank has said ‘significant improvements’ are needed in how regulated financial firms comply with Market Abuse Regulations. The Market Abuse Regulations are rules governing how information, ...

Construction activity increased again in June – Ulster Bank PMI

Construction activity increased for the second month in a row following the full reopening of the sector, and at one of the strongest rates since the survey began. ...

Cabinet to sign off on plans for reopening indoor hospitality

The Cabinet will sign off on plans this afternoon to reopen indoor hospitality in bars and restaurants, RTÉ News has learned. The incorporeal meeting follows detailed discussions between ...

Govt aims to get 75,000 back to work under new strategy

The Government is aiming to get 75,000 long-term unemployed people back to work within two years as part of its Pathways to Work Strategy. The plan, which will ...

Tax reform tops agenda as G20 finance chiefs meet

Finance ministers and central bankers from the group of 20 rich countries are to meet face-to-face for the first time since the start of the Covid-19 pandemic at ...

Indoor dining legislation to go before Dáil next week

A bill to amend the 1947 Public Health Act to allow vaccinated people eat and drink inside bars and restaurants is being worked on. The legislation is set ...

Higher utility bills and transport costs drive inflation higher – CSO

Consumer prices rose by 1.6% in June on an annual basis on the back of higher electricity, gas and transport prices, new figures from Central Statistics Office show ...

ECB to announce revamped inflation target, climate role

The European Central Bank will today announce the outcome of an 18-month strategy review, redefining a inflation target seen by some as confusing and laying down what role ...

Hospitality talks to focus on use of EU Digital Certs

Representatives of the hospitality sector and senior Government officials will meet later today to assess how restaurants and pubs could reopen for indoor hospitality later this month. It ...

European Commission raises Irish GDP growth forecasts

The European Commission has revised upwards the country’s GDP growth projections to 7.2% for this year after a stronger than expected economic performance in the first quarter of ...

Over 2.2 million contactless payments made a day in May – BPFI

Over 2.2 million contactless payments were made every day in May, new figures from Banking and Payments Federation Ireland show today. BPFI said this marked the highest daily ...

PUP scheme to close to new entrants from tomorrow

Today is the last day that people can apply to receive the Pandemic Unemployment Payment, with the scheme shut to new entrants from tomorrow onwards. It was due ...

Varadkar expects reduction in insurance premiums ‘soon’

Tánaiste Leo Varadkar has said he expects insurance premiums will be reduced “quite soon” after preliminary data from the Personal Injuries Assessment Board suggested the average award has ...

Average personal injury award down 50%, report suggests

Preliminary data from the Personal Injuries Assessment Board suggests that the average award has decreased by around 50%. The information is contained in the first implementation report of ...

Indoor dining could resume under self-regulated system, hospitality sector told

Hospitality representatives were told today that indoor dining could reopen for 1.8 million fully vaccinated people with a self-regulated vaccine pass system. A document or email proving vaccination ...

Workplace deaths rose 13% last year, says HSA

New figures from the Health and Safety Authority (HSA) show that the number of people who died in work-related incidents last year rose 13% to 53, despite many ...

Government to begin talks with hospitality on indoor dining

Talks between the hospitality industry and Government representatives to find a way of allowing indoor hospitality to resume will get under way later. Indoor drinking and dining in ...

Services growth hits five year high, but cost pressures mount

Growth in activity in the services sector increased further in June but cost pressures continued to intensify for firms with input price inflation hitting its highest level since ...

Is Ireland’s 12.5% Corporation tax rate toast?

Thursday saw the OECD forge a landmark deal to reform the global corporation tax system. Brokered among 130 countries and jurisdictions, the accord aims to modernise and stabilise ...

Ireland not among 130 countries to back global corporation tax reform deal

The Organisation for Cooperation and Development (OECD) has said that 130 countries and jurisdictions have signed up to a plan that will bring sweeping new reforms to global ...

Donohoe to oversee review of banking sector

The Minister for Finance has told the Dáil that he will oversee “a broad-ranging review” of the banking sector. Paschal Donohoe said the review will consider “possible gaps ...

Ibec warns reopening delay could damage wider economic recovery

The chief executive of the employers’ group Ibec has warned that a lack of clarity on plans for a further reopening of the economy could materially impact the ...

Central Bank says time for ‘credible’ plan for public finances

The Central Bank has upgraded its forecasts for growth in the economy in its latest quarterly bulletin. It has also said that any decision to permanently increase spending ...

Demand for new homes has never been stronger – Cairn Homes

Homebuilder Cairn has reported revenues of €131m for the first half of this year after it closed 403 new home sales. In a trading update for the six ...

New measures to see rent increases linked to inflation

The Government has approved measures which will see rent increases linked to general inflation and an extension of rent pressure zones to the end of 2024. Minister for ...

Hospitality representatives to hold talks with Govt ministers

Representatives from the hospitality industry are due to hold talks with Tánaiste Leo Varadkar, Minister for Health Stephen Donnelly and Minister for Tourism Catherine Martin. The Hospitality Forum, ...

6 things businesses learned from today’s announcement

The Government’s decision to delay the reopening of indoor hospitality has been met with an almost exclusively negative reaction from businesses and representative bodies. Today’s announcement did give ...

Numbers claiming PUP down 16,000, Govt extends support

The number of people receiving the Pandemic Unemployment Payment has fallen to 227,982, a decrease of 16,215 over the last seven days. The Department of Social Protection said ...

McConalogue says new CAP deal is ‘balanced’

Minister for Agriculture Charlie McConalogue has said the new Common Agricultural Policy (CAP) deal that was signed off on by Agriculture Ministers across the EU is “a balanced ...

Mortgage approvals up in May, driven by first-time buyers

New figures show the number of mortgages approved in May rose by 7.4% compared to the previous month, and were up almost 150% compared to the same time ...

Level of spending during Covid-19 crisis not sustainable – Martin

The Taoiseach has said the level of spending by the Government during the Covid-19 pandemic, is “not sustainable” and must “move to the next stage”. Micheál Martin made ...

Economy to grow 6.5% this year driven by exports, says Ibec

Employers’ group Ibec has forecast that the economy in Ireland will grow 6.5% this year driven in the main by strong exports. However, in its latest Quarterly Economic ...

House prices rising at much faster rate outside Dublin

Asking prices for houses nationally jumped 13% in the second quarter of the year compared to the same period last year, according to two separate reports by property ...

NPHET to meet over advice on July reopening

The National Public Health Emergency Team is to meet on Monday to consider its advice to Government on whether or not to further ease Covid-19 restrictions from 5 ...

Restauranteurs seek meeting with Govt on reopening plan

The Chief Executive of the Restaurants Association of Ireland has said that he has called for an urgent meeting with the Government to discuss speculation around a pause ...

26% planning a holiday abroad for September, survey reveals

Over a quarter of Irish people are planning a holiday abroad for September, while 22% are planning an overseas trip for October, according to a survey by online ...

Over 200,000 housing units need to be built over next 3 years – Davy

Over 200,000 housing units will need to be built in Ireland over the next three years, according to a new report from Davy. Its chief economist Conall MacCoille ...

ESRI predicting over 11% growth in economy this year

The Economic and Social Research Institute is forecasting double-digit growth in the economy this year. In its latest Quarterly Survey, the ESRI predicts the economy will grow by ...

The risks of climate change to the economy

The Central Bank’s Financial Stability Review (FSR) is, as the title suggests, one of its big tome publications published twice a year, which goes into great detail on ...

PAC calls for independent investigation into ‘bogus self-employment’

The Dáil’s Public Accounts Committee (PAC) has called on Revenue to commission an independent investigation into the self-employment status of some couriers. In a report to be published ...

Euro zone business growth at 15-year high as demand unleashed – PMI

Euro zone business growth accelerated at its fastest pace in 15 years this month as the easing of more lockdown measures and the unleashing of pent-up demand drove ...

Trust in news media increased over past year, report finds

RTÉ is the most trusted news source for Irish consumers, according to the annual Reuters Digital News Report, with 78% of respondents saying they trusted the service. Overall, ...

Numbers claiming PUP at lowest level since last October

The number of people receiving the Pandemic Unemployment Payment has dropped below 250,000 for the first time this year, new figures from the Department of Social Protection show. ...

Consumer confidence at a two year high – KBC

Consumer confidence is at a two year high, according to the latest KBC Bank Ireland consumer sentiment index. While the monthly reading of 87.2 for June is only ...

NTMA: Interest bill on national debt to fall below €3.5bn

The interest bill on the national debt will fall below €3.5 billion this year, despite an increase in the overall level of debt. This will be less than ...

Four-day working week programme being launched

A new pilot programme for employers to test the effectiveness of a four-day working week for staff with no loss of pay is being launched today. The six-month ...

Irish Fiscal Advisory Council calls for spending explanations

The Chair of the Irish Fiscal Advisory Council has said that politicians need to explain how they would afford to build 40,000 houses a year and retain the ...

Vast majority on PUP would be financially better off at work – ESRI

Younger people are more likely to suffer from financial hardship when Covid-19 State supports are ceased, according to new research published by the Economic and Social Research Institute ...

Jobless: Will young people be scarred long-term?

With almost two thirds of those under the age of 25 who are not in education unemployed, the National Youth Council of Ireland is warning that the pandemic ...

Ireland to receive biggest share of EU Brexit fund

Ireland is set to receive the biggest share of the €5 billion EU Brexit fund, after a provisional agreement was reached today. Ireland will get over €1 billion ...

Sinn Féin seeks to amend plans for moneylender rate cap

Sinn Féin is seeking to amend a new piece of legislation it has proposed that aims to cap the interest rate charged by moneylenders. Currently, moneylenders can charge ...

Mortgage arrears continue to edge lower – Central Bank

New figures from the Central Bank show that the number of homeowners in mortgage arrears for more than 90 days fell to 5.2% at the end of March, ...

Food service market recovery slower than forecast

The food service market here will not return to the levels it was at prior to the Covid-19 pandemic until the end of next year, according to Bord ...

ISME: PUP acting as a ‘brake’ on getting workers back

Small and medium Irish employers are warning that the Pandemic Unemployment Payment (PUP) is acting as “a significant brake” on returning workers in certain sectors of the economy ...

Home prices see annual increase of 4.5% in April – CSO

The price of residential property increased by 4.5% in April, according to the latest figures from the Central Statistics Office. This compares to an increase of 3.5% in ...

Numbers claiming PUP down almost 18,000 on last week

The number of people receiving the Pandemic Unemployment Payment has fallen to just over 267,000 – a decrease of almost 18,000 over the last seven days. The drop ...

EU excludes major banks from bond sales

The European Union has excluded some of the biggest investment banks with past involvement in breaches of antitrust rules from syndicated debt sales backing its up to €800 ...

Should you buy or rent? 5 key questions to ask

A dilemma is a situation in which a difficult choice has to be made between two or more alternatives. It is precisely what is facing a vast cohort ...

EU’s commitment to Good Friday Agreement ‘unwavering’, says Gentiloni

Paolo Gentiloni, EU Commissioner for Economy, has said the EU’s commitment to the Good Friday Agreement is “unwavering”. Commissioner Gentiloni made his remarks in an online address to ...

Employees want flexibility in where and when they work, survey finds

Over half of employees would consider leaving their job post pandemic if they are not given some form of flexibility in where and when they work, according to ...

Traffic volumes rise in May as Covid travel curbs ease

New figures from the Central Statistics Office show that the volume of cars on Irish roads has been rising slowly since the start of the year after the ...

Construction activity bounces back, but costs soar

Activity in the construction sector expanded for the first time this year in May, according to Ulster Bank’s latest Purchasing Managers’ Index. The index, which is designed to ...

Lack of online services saw 1 in 3 closing credit union accounts – survey

Around a third of people surveyed by a company that provides technical expertise to the credit unions sector said they had closed their credit union accounts because of ...

Is now a good time to lock into a 20-year mortgage?

Appearing before an Oireachtas Committee at the end of 2016, the then chief executive of Bank of Ireland more or less admitted that the bank was deliberately keeping ...

Ireland to make strong case for tax competition, says Donohoe

Finance Minister Paschal Donohoe has said that Ireland will be vigourously making the case for tax competition and for maintaining a corporate tax rate of 12.5%. In negotiations ...

NAMA increases projected lifetime surplus to €4.25 billion from €4 billion

The National Asset Management Agency (NAMA) now expects to provide an overall surplus to the Exchequer over its lifetime of €4.25 billion, up from the previous estimate of ...

ECB lifts euro zone growth and inflation projections

The European Central Bank has raised its growth and inflation projections for this year and next as the euro zone economy started to roar back to life after ...

Central Bank’s Rowland says onus on firms to set the right standards

The Central Bank’s Director General, Financial Conduct, has said that increasing evidence in the financial services sector shows that ineffective culture is bad for business – both for ...

NTMA raises €1.25 billion in bond auction

The National Treasury Management Agency has raised €1.25 billion this morning in an auction of Irish bonds. Today’s auction brings the total raised by the NTMA so far ...

Supply shortage, rising costs could impact housing affordability – BPFI

A combination of lack of housing supply and rising construction costs could exacerbate property affordability issues in the years ahead, according to the Banking and Payments Federation Ireland. ...

Too early to reconsider 2m rule in workplaces – McGrath

Minister for Public Expenditure and Reform Michael McGrath has said the Government would like to see people return to the workplace as soon as possible, but for now ...

Pandemic Unemployment Payment claims at six-month low

The number of people claiming temporary Covid-related jobless benefits fell by 8% to 285,000 this week, its lowest level since December last year, new figures from the Department ...

Euro zone economic dip milder than expected in first quarter

The euro zone economy contracted by much less than expected in the first quarter of the year, revised data from the EU’s statistics office showed, with a buildup ...

Is Ireland about to lose over €2 billion a year in tax revenue?

Minister for Finance Paschal Donohoe at the G7 meeting in London Over the weekend, finance members from the G7 nations backed a move which will could see the ...

‘Great to be back’ as outdoor hospitality returns

Publicans have said it is “great to be back” as bars, cafés and restaurants reopened for outdoor service. Bars, restaurants and cafés resumed outdoor service as part of ...

Household energy bills are rising – get ready to switch

This time last year, energy prices were just starting to recover from the record lows reached in the weeks before. Worldwide lockdowns at the onset of the pandemic ...

G7 to discuss Covid economic challenges and climate

The first in-person meeting of the G7 countries since the start of the pandemic takes place in London today. Minister for Finance Paschal Donohoe will attend the two-day ...

Confidence among small business owners improving – SFA

Confidence among small business owners has notably improved, according to a new report from the Small Firms Association (SFA). The latest Small Business Sentiment survey shows that over ...

Euro zone business growth soared in May as restrictions eased – PMI

Euro zone business activity surged in May as the easing of some coronavirus related restrictions injected life into the bloc’s dominant services industry, a survey showed, echoing data ...

ESRI urges extra borrowing and a doubling of investment in housing

Ireland should borrow more to invest in housing and could borrow an additional €4bn to €7bn a year, according to a new analysis by the Economic and Social ...

ECB to keep policy loose this year despite high inflation risks

The European Central Bank will not change the total size of its asset purchase programme at its June 10 meeting but will start tapering its pandemic purchases later ...

Growth in services accelerates as restrictions are eased

Activity in the services sector expanded at the fastest pace in over five years in May, according to AIB. Its latest Purchasing Managers’ Index, a month-on-month check-up on ...

Hopes for tourism boost as hospitality sector reopens

Hotels, B&Bs, self-catering accommodation and hostels can reopen from today, as the gradual lifting of Covid-19 restrictions on the tourism and hospitality sector begins. However, services including leisure ...

Under-25s six times more likely to be in temporary work than older age groups

People aged under 25 are almost six times more likely to be in temporary work than their older counterparts, according to a new study on decent work by ...

Local Property Tax to apply to homes built since 2013

The Cabinet has agreed that owners of new homes built since 2013 will now have to pay Local Property Tax. It follows a decision taken at a meeting ...

Govt to layout roadmap to economic recovery with plan announcement

The Government will unveil its Economic Recovery Plan later today, which is expected to lay out a roadmap for the economy as it emerges from the impact of ...

Mortgage approvals continue to grow, driven by first-time buyers

New figures show that the number of mortgages approved were up 0.9% in April on a monthly basis, while they rose by over 98% compared with the same ...

Govt set to reduce PUP by €50 from September

The Government looks set to begin reducing the Pandemic Unemployment Payment by €50 a week from September. It’s understood that Cabinet will consider reducing the PUP by €50 ...

Momentum in economy building, Bank of Ireland’s Economic Pulse shows

Bank of Ireland’s Economic Pulse came in at 89.5 in May – back above its pre-pandemic level – which bodes well for a pick-up in spending as public ...

Crypto assets a great concern, says Central Bank’s Rowland

The rising popularity of cryptocurrencies such as bitcoin is “of great concern” according to the Central Bank’s Derville Rowland. “Crypto assets are quite a speculative, unregulated investment,” and ...

National Economic Plan to map out recovery plans

It is widely expected that the Cabinet will approve and publish the Government’s National Economic Plan next week. This will outline policies to promote the recovery of the ...

Work-life balance top well-being concern for employers

A new survey has revealed that work-life balance is the number one well-being issue Irish employers are concerned about followed closely by mental health and burnout. The 2021 ...

ISME dissatisfied with non-vaccinated workers’ guidance

Small firms’ body ISME has accused the Government of exposing employers to potential legal action by failing to give them “robust” guidance on handling situations where employees choose ...

Deadline for annual returns extended to 11 June

The Registrar of Companies has extended the deadline for the filing of annual returns to 11 June. The Registrar said it has taken the decision to further extend ...

European Union to finalise huge farm policy overhaul

European Union agriculture ministers said negotiators are close to a deal that aims to reform the bloc’s huge farming subsidy programme, protect small farms and bring agriculture in ...

54% of consumers plan summer holiday this year – KBC Bank Ireland

Irish consumers do not plan to go wild on their holiday spending in 2021, a new survey from KBC Bank Ireland suggests. One in four plan to spend ...

Govt to look at phasing out pandemic supports from October – Varadkar

The Government will begin to look at phasing out financial pandemic supports in the final three months of the year, the Tánaiste has told colleagues. Speaking at a ...

Planning applications for residential units drop

The number of residential units submitted for planning permission fell by nearly a third in the first quarter of the year, according to a new report by Deloitte. ...

Survey suggests measures needed for affordable housing

A new survey has found that four out of every five adults think the Government should introduce new measures to improve the supply of affordable housing here. The ...

Number of people receiving PUP falls more than 29,000

The numbers of people in receipt of the Pandemic Unemployment (PUP) this week has fallen by a further 29,174 to 333,993. In total €102m will be paid out ...

Central Bank to conduct major review of mortgage rules

The Central Bank of Ireland will begin a major review of its mortgage lending rules next month, the first since the measures were introduced in 2015. The review ...

Gas supply driving power generation in April

Gas demand for power generation reached its highest level in six months in April as wind generation fell to its lowest in nine months, new figures show today. ...

Guidelines for reopening of hospitality sector due out

Guidelines for the reopening of the hospitality sector are expected to be published today. They have been drawn up by Fáilte Ireland ahead of Friday’s Cabinet meeting which ...

Unemployment could exceed 390,000 post-pandemic – Social Justice Ireland

Unemployment could end up exceeding 390,000 when the pandemic ends – a higher rate than at the peak of the last recession, according to the Social Justice Ireland ...

Publicans call for indoor opening ‘no later’ than July 1

Publicans have called for indoor trading to resume no later than Thursday July 1. The Vintners’ Federation of Ireland said that after “sacrificing” their businesses for over 15 ...

What will be the result of the global remote work experiment?

A pioneer of remote work, IBM installed remote terminals in employees’ homes as early as the 1980s, and by 2009, when the idea of remote work was still ...

Consumer confidence hits 23-month high, as optimism builds

Consumer confidence hit a 23-month high this month, according to KBC Bank Ireland’s latest consumer sentiment index. The index rose to 85.8 in May from 77.9 in April, ...

Tax increases needed to fund public services – ESRI

The Economic and Social Research Institute has said “sizeable tax increases in the years ahead” will be needed to fund public services. In a paper published today, the ...

Euro zone economy not near ‘super bounce back’ – Lane

The chief economist of the European Central Bank Philip Lane has said he does not believe economies are “entering some new inflationary environment”. He said there is “zero ...

Firms pledge to improve diversity, inclusivity in workplace

New research has found that a person with a disability is four and-a-half times more likely to be unemployed than those in the general population. The study also ...

Prospective buyers unhappy over omission of apartments from scheme

Demand is high and supply remains low. That’s the stark reality of the country’s housing market. The Government hopes its proposal to introduce a stamp duty charge of ...

Personal injury reforms to ‘positively’ impact premiums – Zurich CEO

New personal injury guidelines for the insurance industry will “positively” impact premiums, according to the CEO of Zurich Ireland. Anthony Brennan said in the coming weeks, the company ...

Donohoe defends 10% stamp duty proposal on bulk buying

Minister for Finance Paschal Donohoe has defended the decision to exempt apartments from the Government’s proposal to introduce a stamp duty charge of 10% on the purchase of ...

Post-Covid ‘balancing act’ the next challenge for business

A new survey shows that 43% of organisations overall reported that absenteeism fell during 2020. This figure was even higher in the public sector at 59%, according to ...

EU proposes ‘business-friendly’ unified tax rulebook for companies

The European Commission has proposed new corporation tax rules in Europe that could allow companies to file one tax return for all its operations in the EU. The ...

Over 95% of workers support some form of remote working – survey

Over 95% of workers now favour some form of remote working, with fewer than 5% wanting a full-time return to the office, according to the Second Annual National ...

Cabinet to discuss proposals to prevent bulk buying of homes

The ministers for Housing and Finance are expected to bring proposals to the Cabinet this morning to prevent the bulk purchase of housing estates by investment funds. Minister ...

Claims on health insurance plans fall by almost a third

THERE has been a sharp drop in the number of claims made on health insurance plans due to the pandemic restrictions. The Covid-19 outbreak has also seen the ...

Progress made on internal bank culture but public trust levels remain low

There is ‘a very substantial number of customers’ who believe that banks handle their data securely, according to the chair of the Irish Banking Culture Board. The board ...

Majority of businesses stable or in growth mode – IntertradeIreland

Nearly two thirds of businesses surveyed by InterTrade Ireland said they are in stable or growth mode, in a further sign that recovery is taking hold. Optimism levels ...

Most businesses plan return of employees to workplaces within three months – Ibec

More than three quarters of businesses are planning to return employees to their workplaces within the next three months if Government guidelines allow, a new survey by the ...

NTMA raises €1.5bn as bond yields creep up again

The National Treasury Management Agency (NTMA) successfully raised €1.5bn in an auction of benchmark Irish government bonds this morning. The three bonds, maturing in 2031, 2033 and 2050, were ...

Donohoe says more must be done to help first time buyers

Minister for Finance Paschal Donohoe has said he appreciates the urgency of Ireland’s housing situation, and he acknowledged that the Government must do more to alleviate the challenges ...

Consumer prices rise for first time since start of pandemic – CSO

The annual rate of consumer inflation rose by 1.1% in April, according to the latest figures from the Central Statistics Office. This marks the first positive annual rate ...

Talent exodus could cost business up to €1.2 billion

55% of employees are looking to change roles in either the next six or 12 months or once the economy has strengthened, new research from HR firm Personio ...

NCPC urges businesses to maximise remote working benefits

Remote working has the potential to bring economic, social and environmental benefits – but some enterprises may struggle with additional costs, according to the National Competitiveness and Productivity ...

House prices rose by fastest rate in two years in March – CSO

New figures from the Central Statistics Office show hous prices rose at their fastest rate in two years in March of this year. Rents are also increasing across ...

‘Faster’ process on the way to help small firms restructure

Minister of State for Trade Robert Troy has said a more cost-effective and faster administrative process will be put in place before the summer to enable “viable, vulnerable” ...

Numbers claiming PUP down over 8,500 on last week

The Department of Social Protection has advised employers facing difficulties in re-hiring staff to contact it so that it can “follow up” with the workers concerned. The advice ...

Foreign investors accounted for 78% of property funding between 2017 and 2019

€4.2 billion in capital was pumped into the Irish commercial and residential property market by foreign private finance providers each year between 2017 and 2019, new analysis has ...

Younger workers most impacted by pandemic – ESRI

Young adults have suffered the worst unemployment and labour market impact from Covid-19, according to the latest research by the Economic and Social Research Institute. The report also ...

Proposals to prevent first-time buyers competing with funds

Minister for Housing Darragh O’Brien has said he will share proposals later this week to prevent first-time buyers competing with large investment funds for houses. He said there ...

Government to continue to support businesses as Covid curbs ease – Varadkar

Tánaiste Leo Varadkar said that today is “a day of freedom” as society partially re-opens and people can travel freely anywhere on the island of Ireland. Mr Varadkar ...

12,000 business reopening today as Covid curbs ease

12,000 businesses are expected to reopen their premises this week as Covid-19 restrictions ease further starting from today. Non-essential retailers across the country can resume click and collect, ...

Govt urged to double social housing units by 2030

The number of social housing units in Ireland needs to double by 2030, according to think-tank Social Justice Ireland. Its recommendation is made in a submission to the ...

What supports are available for first-time buyers?

It was undoubtedly a week of mixed emotions for prospective first-time buyers. On the one hand, a glimmer of hope came through the clouds of affordability with details ...

Donohoe plans to gradually cap moneylender rates

The Minister for Finance is to bring forward proposals to Government to gradually cap the interest rates that moneylenders can charge. At present, moneylenders are allowed to charge ...

Household net worth hits new high, as savings continue to rise

Household net worth reached a record high of €855bn in the final quarter of last year due to an increase in deposits and savings, according to new data ...

Covid Unemployment rate falls to 22.4% ahead of reopening

New figures from the Central Statistics Office show that the Covid-19 crisis continues to have a significant impact on the labour market here in April. The CSO said ...

Services growth hits 14-month high in April – PMI

Activity in the services sector accelerated to hit a 14-month high in April as the country began a gradual loosening of Covid-19 restrictions, a survey showed today. The ...

Govt further examining investment fund housing issue

Discussions on how to stop financial investment companies buying large sections of housing estates are likely to continue across Government departments today. Taoiseach Micheál Martin has pledged that ...

Exchequer returns show deficit hit €7.6bn last month

The Exchequer recorded a deficit of €7.6bn in April, up from €7.5bn at the same time last year. The deterioration is down to increases in current expenditure. Despite ...

Enterprise Ireland’s €1m Competitive Start Fund for early-stage start-ups launched

Entrepreneurs have been invited to apply for Enterprise Ireland’s €1m Competitive Start Fund (CSF) which is now open for applications from founders of early-stage start-ups. The competition is ...

Price caps included in Govt’s affordable housing bill

The Government’s proposed new housing legislation will include a plan to cap the price of affordable housing using seven different rates across the country. This will apply to ...

PUP claimants drop below 400,000 for first time in 2021

The number of people claiming the Pandemic Unemployment Payment has dipped below 400,000 for the first time this year, according to the latest figures from the Department of ...

Grants of up to €40,000 under new Online Retail Scheme

€5m is to be made available to help businesses upgrade their websites to boost opportunities in online retail. The latest round of the Covid-19 Online Retail Scheme is ...

Manufacturing activity surge drives PMI to record high

Conditions in manufacturing improved vastly in the month of April bringing AIB’s monthly measure of activity in the sector to a record high. The Purchasing Managers’ Index – ...

Covid-related supports for businesses to be set out by month end

Minister for Public Expenditure and Reform Michael McGrath has said Covid-related supports for businesses and individuals beyond June will be laid out by Government by the end of ...

Business groups largely welcome Govt reopening plan

Business groups have largely welcomed the latest Government plan for the reopening of the economy, which will see sectors reopen on a phased basis from 10 May. On ...

Economic revival begins but won’t be easy

Is this really the beginning of the end of the economic misery that’s been heaped upon the country for the past 13 months?
 That’s the question that thousands ...

Central Bank: Lending by banks beginning to recover

A new report from the Central Bank indicates that lending by banks has begun to recover this year, particularly in the mortgage market. However, it warns that unexpected ...

Business group calls for certainty in reopening plan

Certainty on financial supports and the reopening strategy for businesses over the coming months are required from today’s Cabinet meeting on Covid-19 restrictions, Chambers Ireland has said. The ...

Retail sales post annual growth of 8.5% in March – CSO

Retail sales volumes were 8.5% higher in March than in the same month last year, driven by growth in homewares and car sales, new figures from the Central ...

Number of firms on Covid support in January highest since June 2020

Almost half of businesses surveyed by the Central Statistics Office had employees either on the Pandemic Unemployment Payment (PUP) or the Wage Subsidy Scheme (WSS) in January of ...

Retailers’ concern over plans on minimum unit price rules for alcohol

Retailers have expressed deep concern at Government plans to introduce minimum unit price (MUP) rules for alcohol before similar measures are put in place in Northern Ireland. Retail ...

Donohoe: Rise in core spending will be higher than 3.5%

The Minister for Finance, Paschal Donohoe, has said expenditure by the Government will be higher than the average 3.5% increase in core spending detailed in the Stability Programme ...

Food and drink exports to UK down 35% since 2018 – CSO

A new report from the Central Statistics Office finds evidence that Brexit has led to an overall decline in trade between Ireland and the UK in food and ...

Adjustment of Covid reopening plan ‘now vital,’ says Ibec

The chief executive of the employers’ group Ibec has written to the Government to outline what the organisation sees as the key priorities for the reopening of the ...

Most Irish food SMEs expect revenue growth this year

Most small and medium sized businesses in the food sector expect their revenues to increase in the year ahead, according to new research by Love Irish Food and ...

‘No abrupt end’ to Covid financial supports – McGrath

The Minister for Public Expenditure and Reform has said there will be “no abrupt end” to the Covid financial supports. Over the coming weeks, Michael McGrath said the ...

Business confidence jumps to higher levels than before pandemic – BoI

Business confidence jumped in April to higher levels than seen even before the Covid-19 pandemic, as they eye the rollout of vaccines and some easing of restrictions, according ...

Retail and wholesale start-ups jump by 88% in Q1 – CRIFVision-Net

The first quarter of 2021 saw a significant increase in “necessity-led entrepreneurship” across the retail and wholesale sectors, the latest figures from credit risk analyst CRIFVision-Net show. Today’s ...

Health insurance uptake on the rise, but so are prices

Like many economic predictions when it comes to the pandemic, forecasts around the health insurance market have turned out to be wide of the mark. Given the impact ...

Consumer sentiment improves to 13-month high in April

Consumer sentiment climbed slightly to hit its highest in April since the onset of the Covid-19 pandemic, a survey showed today, but consumers expressed caution about the long-term ...

ECB sticks with euro zone stimulus plans

The European Central Bank left policy unchanged as expected today, keeping copious stimulus flowing even as it saw reasons to expect a firm rebound of the euro area ...

Property transactions up 12% to €4.2bn despite pandemic

New data from the Property Price Register shows that the volume of residential transactions rose 12% in the first three months of the year, despite the lockdown. According ...

4 in 10 workers have no occupational pension – Age Action

40% of workers aged between 20 and 69 have no occupational pension coverage other than the state pension, according to Age Action. Addressing a Pensions Commission webinar earlier ...

Donohoe says Ireland committed to global tax deal – but it must work for small countries

Ireland is committed to reaching an agreement to overhaul global corporate tax, but it must be one that works for small countries and accommodates healthy and fair tax ...

Government spent €13 billion on tackling Covid last year – CSO

Figures published the Central Statistics Office today give a provisional breakdown of the €13.1 billion spent by the Government last year to tackle Covid-19. The Pandemic Unemployment Payment ...

Job postings continue to grow, up 34% in first quarter – IrishJobs

Job postings on e-recruitment platform IrishJobs.ie were up 34% in the first quarter of the year, compared to the final quarter of 2020. The data suggests the Irish ...

Report warns of rising houses prices and delays

The construction industry could be unable to meet pent-up demand for housing and infrastructure, even when fully reopened, due to labour shortages and a “boom and bust” cycle ...

Covid supports not a subsidy for insurance firms – McGrath

Minister for Public Expenditure and Reform Michael McGrath has said the Covid-19 supports paid to businesses were “never intended to be a subsidy for insurance companies”. The Minister ...

Covid-19 having ‘profound’ impact on SMEs

A survey by the Central Bank and the ESRI has found the impact of Covid-19 on small and medium sized enterprises (SMEs) has been “profound”. The survey reveals ...

Key focus of Government is getting people back to work – Donohoe

The Minister for Finance has said that scaling up the vaccine programme is key to the re-opening of the economy and that is happening now with 170,000 vaccines ...

Land prices forecast to rise by 4% on average in 2021

Land prices remained resilient last year despite the threat posed by Covid-19, according to a report by the Society of Chartered Surveyors Ireland and Teagasc. Nationally, the price ...

Call for more transparent pension fees legislation

A report on pensions has found that fees and charges are so high that over time they are wiping out the tax relief given to pension savers by ...

Dublin Port volumes down 15% in first quarter of 2021

Brexit trigged a major reduction in cargo volumes at Dublin Port in the first quarter of this year, while Covid-19 also hit passenger numbers. The Dublin Port Company ...

Why is Ireland seen as unattractive by banks?

Ulster Bank, Bank of Scotland Ireland, Rabobank, Danske Bank, and more. There have been plenty of lenders who have dipped their toes in the Irish banking sector, only ...

Home prices see annual increase of 3% in February – CSO

The price of residential property nationally rose by 3% in February, according to the latest figures from the Central Statistics Office. This compares to an increase of 2.6% ...

NTMA raises €3.5 billion through sale of a 20-year bond

The National Treasury Management Agency has raised €3.5 billion through the sale of a new 20-year bond. The bond, which matures in April 2041, was sold at an ...

Trade with UK declines again in February – CSO

Trade with Great Britain continued to decline in February, according to the latest figures from the Central Statistics Office. Imports of goods from Britain were down €742m, or ...

Low Pay Commission to investigate move to €12.30 per hour living wage

The Government has formally authorised the Low Pay Commission to investigate how Ireland can move towards a living wage, and must report in the second half of this ...

Digital advertising spend up 8% last year to €726m

New figures show that digital advertising spend in the Irish market reached €726m last year, up 8% compared to 2019. The latest IAB PwC Online Adspend report shows ...

IMF predicts uneven European economic recovery

The International Monetary Fund has said Europe’s economy should rebound this year but recovery across the region remains uneven. The IMF is also calling for a “new social ...

4.5% growth in economy forecast despite Covid damage

Minister for Finance Paschal Donohoe will publish the Stability Programme Update later today which will set out new deficit and growth targets for the economy. RTÉ News understands ...

Report suggests penalties for bogus self-employment

Penalties for employers who intentionally misclassify workers as self-employed, resulting in the loss of PRSI and employment rights entitlements, should be explored by the Department of Social Protection, ...

Public finances show deficit of €18.4 billion for 2020

Provisional figures from the Central Statistics Office published today show the deficit in the public finances was €18.4 billion last year, which represented 5% of GDP. This is ...

Work from home whenever possible, Tánaiste reminds

The Government has reminded employers that all staff should continue to work from home, if possible. As some Level 5 restrictions eased yesterday, the Tánaiste and Minister for ...

Numbers set to get PUP down 15,000 this week

The number of people due to receive the Pandemic Unemployment Payment (PUP) this week is down 15,776 on last week. 421,373 people will get a total of €125.52m ...

Car insurance premiums to fall in the ‘near future’

The chief executive of Insurance Ireland has said she would be “optimistic” that consumers will start to see a reduction in their motor insurance premiums “in the near ...

Up to 20,000 construction workers to return to sites

Up to 20,000 construction workers will return to work on residential, early-learning and childcare sites around the country today as Covid-19 restrictions ease. But there continues to be ...

Dept issues warning about scam phone calls

The Department of Social Protection has issued a warning about scam phone calls from people claiming to be department officials. The department said that the call displays a ...

Site shutdown sees building activity stall for third month in a row

Construction activity declined for the third month running in March as most building sites remained shuttered due to Covid-19 restrictions. Activity across all sub-sectors fell sharply, according to ...

Consumer prices rise at fastest monthly pace in two years

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 ...

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

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 ...

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

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 ...

Those on minimum wage hit hard with pandemic job losses

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 ...

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

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 ...

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

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 ...

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

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 ...

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

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 ...

European Commission approves €60m scheme for Irish SMEs

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’, ...

Over 70% of people don’t talk about their finances, BoI survey reveals

Over 70% of people don’t talk about their finances at all or will only do so if they have to, according to research by Bank of Ireland. The ...

Mandatory vaccination – a thorny issue for employers

From the United States to Israel, from Australia to Ireland – most agree that a rapid rollout of the Covid-19 vaccination is the key to reopening the economy. ...

Warning over ‘eye-watering’ levels of youth unemployment

The National Youth Council of Ireland has described as “eye-watering” the high level of unemployment among young people and warned of a social and economic crisis if they ...

Covid spending to reach €28 billion by end of 2021 – McGrath

The total cost of direct Covid-19 related spending to the state across 2020 and 2021 is estimated to reach €28 billion by the end of this year, the ...

Online credit and debit card fraud rises 21%, BPFI warns

Irish consumers lost over €12 million through debit and credit card scams in the first half of last year, according to new figures published by the Banking & ...

Central Bank revises upwards economic growth forecast

The Central Bank has revised upwards its forecast for economic growth in the economy this year in its latest quarterly bulletin.  It says longer pandemic restrictions have slowed ...

Mixed reaction from business groups to Govt plans

Today’s Government announcement will provide relief for some sectors. The Irish Hairdressers Federation has welcomed the news that the industry could be allowed to reopen in May. However, it ...

House prices rise almost 8%, supply drops by 34% – Daft report

Listed house prices have increased by 7.6% on average over the past year, while the number of homes available to buy are down 34%, according to the latest report ...

Evolve Strategic Planning Grant

The Evolve Strategic Planning Grant assists businesses to develop a strategic response to address the new trading environment with the UK The Evolve Strategic Planning Grant offers up to ...

Working group over trade unions, industrial relations set for approval

The Government is expected to approve the establishment of a high-level working group to review collective bargaining rights and the industrial relations landscape in Ireland.  The proposal will ...

Govt defends absence of targets in rural development plan

The Government has defended the absence of any detailed targets and funding allocations in its new five-year strategic plan for Rural Ireland. Minister for Social Protection and Rural ...

February retail sales see monthly jump of 13.9% despite lockdown

New figures from the Central Statistics Office show that the volume of retail sales jumped by 13.9% in February compared to January even though the country remained under ...

ECB must remain euro zone’s stabiliser, says Lane

The European Central Bank must remain a key stabiliser of the euro zone economy as the bloc is at risk of suffering longer-term damage from its pandemic-induced double-dip ...

Ibec downgrades growth forecast for 2021 to 3.1%

Ireland’s economy will grow by 3.1% this year, employers’ group Ibec is predicting, down from the 5.3% it said it was anticipating for 2021 just three months ago. Although ...

Long lasting damage from tracker mortgage affair

“I don’t know what a tracker mortgage is.”  Remember the ad? The ad was released by the financial regulator around 2007, as part of a campaign to educate ...

Govt confirms extension of €2bn Credit Guarantee Scheme

The Government has confirmed that it will extend the €2 billion Credit Guarantee Scheme, with the scheme remaining open for applications until the end of the year. The ...

Rise in consumer confidence in visiting stores – Deloitte survey

Consumer confidence in visiting physical stores, engaging in person-to-person services and attending in-person events has increased, according to a new report by Deloitte Ireland. The latest consumer tracker ...

Ulster Bank hit with record €38m Central Bank fine for tracker mortgage failings

The Central Bank has fined Ulster Bank Ireland almost €38m for dozens of regulatory breaches in its handling of its tracker mortgage customers. The fine of €37.774m is the ...

Poll suggests one in four cut back on food and utilities during pandemic

The Covid-19 pandemic has led to one in four people cutting back on food and utilities, according to research commissioned by the Society of St Vincent de Paul. Almost ...

Consumer sentiment improves to best level in 12 months

Consumer sentiment improved to its best level in 12 months in March, according to the latest KBC Bank Ireland consumer sentiment index.  The report said the increase in consumer ...

ESRI lowers economic growth forecasts as Covid restrictions continue

The Economic and Social Research Institute has lowered its forecasts for growth in the economy this year, due to ongoing Level 5 pandemic restrictions. In its Quarterly Economic ...

Rents nationwide rise by 2.7% in fourth quarter

Rental prices increased by 2.7% nationally to stand at an average of €1,256 a month by the end of last year, according to the latest figures from the ...

Dublin-Belfast economic corridor plans to be revealed

Plans for an economic corridor between Dublin and Belfast will be launched by the eight local authorities it passes through. Four local councils on each side of the ...

Europe facing difficult quarter but ECB will do its part – Lane

Europe is facing a difficult second quarter as coronavirus infections rise and governments reimpose lockdown measures, but the European Central Bank will do its part to keep borrowing ...

Employers owe €224m to Revenue for TSSS payments

56% of employers who availed of the Temporary Wage Subsidy Scheme were overpaid under the scheme, and owe a total of €224m to the Revenue Commissioners by the ...

Half of restaurants face permanent closure due to pandemic, says RAI

Half of restaurants face permanent closure in the wake of the coronavirus pandemic, according to the lobby group which represents the industry.  The Restaurants Association of Ireland will ...

Increase in Govt spending due to Covid second highest in euro area

The increase in Government spending in response to the Covid pandemic over the first three quarters of last year was the second highest in the euro area, according ...

Average €4,000 loss to SMEs from fraud last year – Bank of Ireland research

The average loss to a small and medium enterprise here arising from fraud stood at just below €4,000 last year, according to research carried out by Bank of ...

Views sought on reform of Personal Injuries Board

A public consultation on enhancing and reforming the remit of the Personal Injuries Assessment Board (PIAB) begins today. Launched by the Minister for Trade Promotion, Digital and Company ...

Mortgage arrears – is this the calm before another storm?

There was a time in the last decade when the Central Bank’s mortgage arrears figures were as keenly anticipated as the property price figures from the Central Statistics ...

Retail, transport workers should receive living wage – Varadkar

Essential workers including those in retail, transport, cleaning and food service should receive a living wage with access to an occupational pension, according to the Tánaiste and Minister ...

Slight decline in mortgages in arrears in final quarter – Central Bank

There was a marginal decline in the number of mortgage accounts on private residences that were in arrears at the end of December, according to the Central Bank. ...

Irish family firms cut more jobs than European peers

Irish family firms cut more jobs in the past year when compared to their European peers, according to a new report. The study by the Step Project Global Consortium ...

Farmland prices see big jump of 15% in 2020, Irish Farmers Journal report shows

The average price of farmland rose by 15% nationally last year, despite the Covid-19 pandemic, the latest Irish Farmers Journal’s county land price report shows. Today’s report shows ...

Central Bank says firms must ‘set the right standards’

The stockbroker Davy need only look in the mirror when it asks itself how things went so catastrophically wrong, the Director General of Financial Conduct at the Central ...

ECB wants to keep yields in check while economy heals – Lane

The European Central Bank is aiming to stop bond yields from rising before the pandemic-hit euro zone economy is ready to digest higher borrowing costs, the ECB’s chief ...

Shift in post-Brexit jobseeker activity evident in certain sectors – Indeed

A shift away from the UK as a destination for European job seekers post-Brexit is manifesting in increased interest in certain categories of Irish jobs, according to research ...

Half of firms plan to adopt remote working long-term

51% of businesses plan to adopt remote working on a permanent basis, according to new research carried out by CIPD Ireland. The data was published by the umbrella ...

Central Bank says new housing equity scheme could put pressure on prices

The Central Bank has raised questions about the shared equity scheme proposed by Minister for Housing Darragh O’Brien to help first-time home buyers. In a letter to the ...

Contactless payment values up by almost a third – BPFI

The value of contactless payments rose by almost 30% year on year in January to €674m as consumers took advantage of the extended ‘tapping’ limit of €50, according ...

Lockdown dealt €2bn hit to construction output in 2020 – report

The initial shutdown of the construction sector for seven weeks during the initial stages of the Covid-19 pandemic knocked €2bn off construction output last year. That is according ...

Premium hikes likely as rebuild costs rise

Homeowners could face increased buildings insurance premiums because of a hike in the cost of rebuilding a home, according to a report from the Society of Chartered Surveyors. ...

AIB, BoI and PTSB used loss reliefs worth almost €500m over three year period

The Minister for Finance, Paschal Donohoe, has confirmed that the three banks in which the state has shares utilised loss reliefs of almost €500m against their corporation tax ...

UK pushes back timetable for post-Brexit border checks

Britain has delayed by around six months its plans to introduce a range of post-Brexit border checks on goods imported from the European Union, saying it had listened ...

ECB to boost emergency bond buys, keeps rates unchanged

The European Central Bank has left its key interest rates unchanged after today’s Governing Council meeting. However, the ECB has said it expects to buy bonds under its ...

Two thirds of CEOs believe firms will pay more tax arising from pandemic – PwC

Almost two thirds of chief executives here believe that their companies will end up paying more tax as a result of policy changes to address rising debt levels ...

Applications for phase 1 of €8,000 SBASC grant opens today

Applications for the €60m Small Business Assistance Scheme for Covid-19 have opened today.  The SBASC scheme is in addition to the package the Government has put in place ...

Bank boards still not sufficiently tech savvy – Accenture study

A third of the world’s biggest banks still have no board members with professional technology experience, skills needed to help lenders make better decisions as they increase investments ...

Irish mortgage interest rates highest in euro zone again

Ireland continues to have the highest mortgage interest rates across the euro area in January, new figures from the Central Bank show.  The Central Bank said the average ...

Consumers reluctant to return to in-store shopping, study shows

71% of consumers say they will not feel comfortable shopping on their local high street until the Covid crisis is better controlled, according to a new survey. The research ...

Union calls for ‘transparent’ debate on future of banking

The Financial Services Union is calling on the Government to convene a forum for what it calls an’ open and transparent’ public debate on the future of banking ...

ESRI revises downwards economic growth forecast

The Economic and Social Research Institute has revised downwards its forecast for growth in the economy this year.  In an opening statement to the Oireachtas Committee on Budgetary ...

Coveney to brief members of US Congress on Brexit

Members of the US Congress are to receive a briefing today on the latest Brexit developments from Minister for Foreign Affairs Simon Coveney and European Commission Vice-President Maroš Šefčovič. ...

Covid restrictions continue to hit Dublin economy

The latest Dublin Economic Monitor shows that although the Dublin economy remains severely impacted by Covid-19 restrictions, it is prepared for recovery once conditions permit. The monitor is ...

Oireachtas Committee to hear stronger regulatory framework needed in wake of Davy

A senior Central Bank representative will tell an Oireachtas Committee today that the regulatory framework requires further strengthening when it comes to holding individuals to account for breaches. ...

47% of homebuyers think prices will rise by up to 10% this year

47% of prospective homebuyers think prices will rise by up to 10% in the coming year, according to a new survey from property website MyHome.ie. A similar survey ...

Cabinet to consider extension of Covid protections for tenants

The Cabinet will this morning consider a proposal from Minister for Housing Darragh O’Brien to extend protections for tenants whose incomes have been affected by the Covid-19 pandemic. ...

Consumer spending down 19% in February – Revolut

Consumer spending fell again in February as the impact of the full coronavirus lockdown continued to bite, new figures from digital banking app Revolut show.  Revolut said that ...

Increase in women taking up leadership roles, and why its beneficial to business

The number of women holding senior leadership roles in Irish businesses improved in the past year, growing from 31% in 2020 to 33% in 2021, according to research ...

Construction sector sees another decline in activity

February saw another steep contraction in construction activity here due to the coronavirus lockdown restrictions. Ulster Bank’s Construction Purchasing Managers’ index remained well below the 50 no-change mark ...

Need for focus on reducing deficit post-pandemic – Donohoe

The Minister for Finance has warned that it is dangerous for a small economy that cannot print its own currency to think that “deficits don’t matter” when evaluating ...

Martin says need to move away from supports once Covid under control

The Taoiseach has said that as the Covid-19 pandemic is brought under control there will be a need to move away from the extensive and wide-ranging emergency supports ...

EU Parliament declines to set EU-UK trade deal vote

The European Parliament has postponed a decision on ratifying the EU-UK free trade agreement in protest at the UK’s unilateral move on how the Northern Ireland Protocol should ...

Covid-19 unemployment rate dips to 24.8% in February

New figures from the Central Statistics Office show that the unemployment rate, including those receiving temporary Covid-19 jobless benefit, fell slightly to 24.8% in February from 25.1% in ...

Permanent TSB talks over Ulster Bank have been positive says CEO

The chief executive of Permanent TSB has described its discussions with Ulster Bank parent NatWest on the possible purchase of parts of the business as positive. Speaking on Morning ...

EU negotiating with partner it cannot trust – Coveney

The Minister for Foreign Affairs said the EU is negotiating with a partner it simply cannot trust following yesterday’s move by the British government to unilaterally change how the ...

Bank branch closures highlight generational digital divide

The decision by Bank of Ireland to close over a hundred branches across its network highlights the digital divide that exists between the generations. The migration of banks ...

‘Chronic underinvestment’ harming recovery prospects – Ibec

Decades of chronic underinvestment in key infrastructure is threatening to undermine the prospects for economic recovery, according to Ibec. Publishing its submission to the mid-term review of the ...

Exchequer deficit climbed to €14bn by end of February

Exchequer returns for February show that the budgetary situation has now deteriorated by €1.7bn compared to the same period a year ago, due to the decline in tax ...

Euro zone inflation holds steady before expected spike

Euro zone inflation held steady as expected last month, taking a break in what is likely to be a temporary but sharp spike in consumer prices in the ...

Dublin benefits most from Brexit financial services relocations – EY

Dublin remains the most popular destination for UK financial services firms looking to relocate staff or operations as a result of Brexit, according to EY. The accounting and ...

Bank of Ireland reassures on cash facilities and ATMs

Bank of Ireland has said that no location will be left without access to financial services or cash facilities after its decision to close 103 branches in the ...

Ireland’s minimum wage is second-highest in the European Union

Ireland has the second-highest minimum wage across the EU, at €1,724 per month, according to Eurofound. Luxembourg has the highest, at €2,202, the Dublin-based EU agency said in ...

How ordinary savers can avoid the negative interest bullet

The notion that ordinary savers could be charged to leave their savings in a bank has alarmed many — yet this is exactly what would happen if customers ...

Retailers affected by the pandemic negotiate rental discounts of up to 20pc

Retailers are negotiating rental discounts of up to 20pc in many cases, as they continue to be affected by Covid-19 restrictions. More substantial discounts are being achieved by ...

Major reset of EU-UK relations being considered by EU

Senior EU figures are contemplating a major reset in relations with the UK that would coincide with the formal ratification of the free trade agreement at the end ...

Mortgage approvals fell 16% in January

The number of mortgages approved in January fell by 16% compared to the previous month, according to figures published by the Banking & Payments Federation Ireland. A total ...

Youth unemployment worsening, according to CSO figures

Today’s Labour Force Survey figures confirm that the crisis in youth unemployment is worsening.   The number of people aged 15-24 in employment fell from 264,000 at the ...

Key actions needed to reduce insurance costs – NCC

The National Competitiveness Council (NCC) has said key actions must be taken to reduce costs in the Irish liability insurance market, including bringing personal injury award levels in ...

Commercial property vacancy rate rises to 13.5%

13.5% of commercial properties listed across the country were vacant in the final quarter of last year, according to figures published by GeoDirectory and EY-DKM. The number of vacant properties ...

SFA calls for urgent launch of Covid Business Aid Scheme

Many small businesses will be forced to close and cut jobs if the Government does not quickly launch the Covid Business Aid Scheme (CBAS). That is according to ...

Ulster Bank defends decision around plan to withdraw from Irish market

The chief executive of Ulster Bank has defended the decision of the bank and its parent NatWest not to give advance warning of its plan to withdraw from ...

Businesses unhappy with Covid plan and seek supports

Business group Ibec has called for an increase in financial supports for business in the worst impacted sectors of the economy.  In a statement this evening, it said current fixed ...

Govt extends key economic supports as restrictions continue

The Government has said that measures to support business, jobs and employment are to remain in place until the end of June. It follows the announcement that Covid level ...

Judicial reviews delay Strategic Housing Development

A new report has found that the number of units in planned Strategic Housing Developments (SHD) in Dublin that have been delayed or cancelled as a result of ...

Central Bank mortgage lending rules keeping house inflation down – ESRI

New research by the ESRI has found further evidence that mortgage lending rules put in place by the Central Bank six years ago are helping to keep house ...

Cautious optimism pushes consumer sentiment higher

Consumer sentiment bounced back in February thanks to cautious optimism about the outlook for the economy, despite the prospect of Covid-19 restrictions lasting for many more months, a ...

Too early to predict Ulster loan book sale success – Donohoe

Minister for Finance Paschal Donohoe has said it is too early to say if the negotiations between Permanent TSB and NatWest turn out to be successful on the ...

The third banking force awakens

For well over a decade, we’ve been hearing talk on and off about the need for a third banking force in Ireland. The notion gained legs in the ...

Licensed Vintners’ Association calls for more clarity

The Special Committee on Covid-19 Response will meet later today as the updating of the Government’s plan on Living with Covid continues ahead of its publication this week. ...

Consumer prices down 0.2% in January – CSO

New figures from the Central Statistics Office figures show that consumer prices posted an annual fall of 0.2% in January compared to a drop of 1% a month ...

Varadkar promises more targeted Covid-19 supports

The economy will “bounce back” sooner than many people think, the Tánaiste has told the Dáil, but he added that the pandemic will leave “many scars” including lost ...

Ulster Bank confirms exit from Irish market

Ulster Bank has announced a phased withdrawal from the Republic of Ireland over the coming years that will be managed in an “orderly and considered manner”.  The bank, ...

Central Bank expects ‘speedy’ resolution of business interruption claims

The Central Bank has contacted a number of insurers on resolving relevant business interruption claims in a ‘proactive and speedy’ manner. It comes as the bank continues its ...

Bank of Ireland to refund 35,000 mortgage customers

Bank of Ireland is to refund tens of thousands of its mortgage customers after it discovered that it had overcharged them. Around 35,000 accounts were impacted by the ...

Irish online retail sales soar by 159% in 2020 – Wolfgang Digital

Irish online retail sales grew by 159% in 2020, according to new figures from digital agency Wolfgang Digital, up from average annual growth of 32% between 2017 and ...

European new car sales drop by 25.7% in January

European car registrations dropped in January, industry data showed today, as measures to restrict a second coronavirus wave hit sales in the region’s largest markets.  New car registrations ...

Donohoe says public finances still within overall budget

The Minister for Finance, Paschal Donohoe has said the public finances are still within the overall budget published last October. However, he said if current programmes to support incomes ...

Job postings continue to grow, still down 24% – Indeed Ireland

Job postings on Indeed Ireland were down 24% in early February compared with the same time last year, according to new research from the jobs website. However, despite ...

Covid supports to extend beyond March, says McGrath

The Minister for Public Expenditure and Reform has confirmed that the various pandemic supports will be extended beyond the end of March. Speaking on RTÉ’s News at One, Micheal McGrath said ...

Banking Federation critical of capital reserve rules

The banking industry’s representative association, Banking and Payments Federation Ireland, has published a report claiming Irish banks are forced to hold three times the amount of capital as its ...

3,666 decrease in PUP recipients over last week

Almost 477,700 people are set to receive the Pandemic Unemployment Payment this week – a decrease of 3,666 over the last week, according to the Department of Social ...

ICTU warning over reduced redundancy for workers on PUP

Hundreds of thousands of workers could lose out on redundancy payments if their employment is terminated because time spent claiming the Pandemic Unemployment Payment will not count when ...

Decision time on Ulster Bank’s future draws near

This week could be a big one for Ulster Bank’s 2,800 employees in the Republic of Ireland, its 1.1 million customers, the Irish banking market and the economy ...

Are banks about to start charging us for our savings?

It may be hard to believe for those who availed of it, but it’s 20 years since Ireland’s arguably most famous and controversial savings scheme was launched. In ...

Euro zone growth in 2021 to rebound less than expected

The euro zone economy will rebound less than earlier expected from the coronavirus slump this year as a second wave of the pandemic put economies in new lockdowns, ...

Irish economy set to grow by 3.4% in 2021 – Commission

Ireland’s overall GDP growth is projected to come in at 3.4% in 2021 and is set to reach 3.5% in 2022 on the back of strong private consumption, ...

UK can’t have equivalence and divergence – McGuinness

The European Union will strive for close co-operation with Britain on financial services, the EU Financial Services Commissioner Mairead McGuinness has said. But she said London cannot expect ...

People on PUP facing reduced tax credits when they return to work

The Director of Public Policy at Chartered Accountants Ireland has said Revenue will collect the tax owed on the Pandemic Unemployment Payment (PUP) for 2021 by reducing people’s tax ...

88% of online shoppers buy from non-Irish sites – PayPal

88% of Irish consumers who shop online bought from websites outside of Ireland during the last year, according to research carried out by PayPal. The study involving more ...

Business leaders concerned at pace of Covid-19 vaccine rollout – IoD

33% of businesses say a slow roll-out of the Covid-19 vaccination programme is the single biggest risk facing their organisation, according to new research by the Institute of ...

Irish banks ‘latecomers’ on digital services – Deloitte study

Irish banks lag behind their global counterparts when it comes to their digital services offering. This is according to a study of banks globally carried out by professional ...

Firms alerted to Brexit requirements that apply to some workers

Irish companies employing UK nationals working in other EU member states are being alerted to changes arising from Brexit which mean that their employees are now subject to ...

Government €160m Boost to Covid Business Grants

New Scheme targets businesses currently ineligible for CRSS & other sector specific grantsWholesalers, suppliers, caterers & events companies down 75% or more in turnover expected to benefit€10m extra ...

Warned over financial cost of Covid restrictions, construction may reopen 5 March

The Government has been warned that the financial costs of continued restrictions are very large and that the short-term economic outlook has worsened due to the current Level ...

Revenue apologises to hauliers for import system problems

Revenue has apologised for ongoing intermittent performance problems with its main import system. This has led to difficulties and delays for businesses trying to bring goods into the country ...

Security to the fore as firms and consumers opt for digital in greater numbers

Almost half of Irish small businesses surveyed by payments company Visa said they were now offering contactless payments options to their customers for the first time. That is ...

Brexit pushes cost of buying used car from UK higher

Revenue has warned that anyone buying a used car from the UK needs to be aware of the significant additional costs that may apply, following the end of ...

Lowest rate of rental inflation in nine years as Dublin prices fall in the year – daft.ie

It was a tale of two rental markets in 2020 with monthly rents in the capital down 3%, but outside of Dublin, rents were up 5%, the latest rental ...

Steep fall in construction activity as sites remain shuttered

There was a sharp reduction in construction activity in January as the industry was largely shuttered under the latest Government restrictions introduced to curb the spread of Covid-19. ...

Small businesses urged to use available Brexit supports ahead of LEO meeting

The Local Enterprise Office network is holding a webinar for small businesses today on changes to the trade regime since the UK left the EU at the start ...

New guidelines on personal injury damages to be considered

A full meeting of the Judicial Council will consider draft guidelines which, if adopted, will recalibrate the level of damages that can be awarded to claimants involved in ...

Late year surge in home completions brings 2020 close to 2019 levels

There was a big increase in the number of housing projects completed in the final three months of last year, new Central Statistics Office figures show.  That push ...

EU concern over tone of Gove’s demands on NI Protocol

EU sources have expressed concern over the tone of Michael Gove’s letter to his European Commission counterpart on changes the UK is demanding to the Northern Ireland Protocol. ...

Covid-19 unemployment rate climbs to 25% in January – CSO

The Covid-adjusted rate of unemployment rose to 25% in January, up from 19.4% in December, according to the latest figures from the Central Statistics Office. Restrictions, including the ...

Euro zone inflation rate surges in January

Euro zone inflation surged well past expectations last month, driven by rising energy costs and a German tax increase, posing a potential communications challenge for the European Central ...

Services activity tumbles after new lockdown – PMI

The country’s services sector contracted last month at the sharpest rate since the economy was emerging from an initial Covid-19 lockdown last May after the Government imposed its ...

Hauliers going to France urged by Govt to pre-book antigen test

The Government is urging hauliers heading to France from tomorrow onwards to pre-book antigen testing before they travel, because of the new French requirement for a negative Covid-19 ...

Business angel investing grew in 2020, despite pandemic

Business angels invested over €14m in start-ups across the island of Ireland in 2020, despite the pandemic induced restrictions throughout the year. This is according to the latest figures ...

Record number of new .ie websites registered in 2020

A record number of new .ie Irish websites were registered in 2020, according to a new report by .IE, which manages and administers Ireland’s country domain name .ie. Over ...

Survey looks at employers’ view on vaccinations

Thousands of employees could face dismissal or problems in being hired if they refuse to be vaccinated, according to research by human resources technology firm HRLocker. The survey of 750 senior ...

Consumer confidence falls, as Covid worries grow

Consumer sentiment dropped sharply in January as the number of Covid-19 cases surged following the Christmas period, a survey found today.  The KBC Bank Ireland consumer sentiment index ...

Contactless payments topped a record €1bn last December

Irish consumers are tapping their payment cards more than ever. Last December spending using contactless payments topped €1 billion for the first time ever. In the last three months ...

No sudden withdrawal of fiscal measures – Donohoe

The Minister for Finance has said there will be no sudden withdrawal of the fiscal stimulus measures put in place across Europe to deal with the Covid-19 pandemic. ...

Irish port volumes steadily rising but still lower than last year

The quantity of goods passing through Irish ports from the UK remains around half of what it was this time last year, nearly four weeks after the Brexit ...

Almost €100,000 income needed for cheapest Dublin apartments – study

A couple earning average wages still cannot afford even the cheapest new apartments in Dublin, according to a study. The Society of Chartered Surveyors Ireland (SCSI) also found ...

Too much cash, too few homes – property prices in a pandemic

A multi-millionaire Australian property mogul controversially suggested a few years ago that if young people wanted to buy a house, they should stop buying avocado toast and expensive ...

Davy upgrades economic growth forecasts for 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 ...

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

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 ...

Job vacancies remain 23% below pre-Covid levels

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 ...

EU sets out plans to built the power of the euro

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 ...

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

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 ...

Dublin Port records third busiest year in 2020 despite Covid challenges

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 ...

ITIC calls for more support for tourism industry

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 ...

No reason to expect significant shortage of goods – official

A senior Government official has said there is no reason to expect there will be any significant shortages in goods because of ongoing post-Brexit supply chain challenges.  Declan ...

PUP numbers jump by over 15% in the last week

Some 460,000 people will receive the Pandemic Unemployment Payment this week – an increase of over 15% in the last seven days, according to the Department of Social ...

Price rises expected as estate agents struggle to meet demand – SCSI

Chartered estate agents say they are struggling to meet demand for property, especially from first time buyers. A survey of 800 agents, carried out by the Society of ...

76% of imports into Dublin Port clearing without delays

Revenue has said that 76% of goods being imported through Dublin Port from the UK are now being given green clearance, which is up from 45% one week ago. ...

Ireland to receive €1bn from EU’s post-Brexit fund

Ireland is due to receive over €1 billion from the European Union’s Brexit fund, set up to help member states most affected by Britain’s departure from the bloc. ...

Some food and drink exports hit hard by Covid-19 pandemic

Some sectors of Ireland’s valuable food and drink industry were severely affected last year as a result the global Covid-19 pandemic. The extent of the decline is highlighted ...

Record €1.2 billion spent on groceries in December – Kantar

New figures show that the average shopper spent €134 more on groceries in December last year than they did in December the previous year.   The latest figures ...

People unable to work due to childcare may be eligible for PUP

Workers unable to go to work due to a lack of childcare triggered by Covid-19 closures may be eligible to claim the Pandemic Unemployment Payment, according to the ...

Banks to create payment app to rival Revolut and N26

Four of the five main Irish retail banks have notified the competitor regulator of plans for an app based payment system that would enable consumers to move money ...

Strong rise in housing activity drives construction sector growth in December

The construction industry finished 2020 in expansion mode on the back of strong levels of housebuilding, the latest Ulster Bank’s Construction Purchasing Managers Index shows. The Ulster Bank ...

Consumer spending up 6% in December – Revolut

New figures from Revolut shows that total consumer spending in December 2020 rose by 6% from December 2019, with many sectors seeing record levels of expenditure.  Digital banking ...

Brexit reality bites: The new dawn of trade friction

This week, as Brexit took effect, a company in Cork that sells sports posters to Europe and around the world ceased all direct online sales to the UK. ...

Businesses urged to claim 0% tariff on UK-origin goods

Businesses, and especially SMEs, have been alerted of the need to actively claim the zero-tariff rate on UK origin goods.  The Minister of State for Business, Employment and ...

Non-essential construction to stop this evening due to Covid-19 restrictions

Non-essential construction is to cease this evening until at least the end of the month, as part of restrictions introduced on Wednesday to slow the spread of the ...

The virus shaping our economy is unpredictable and surprising

Covid-19 continues to be the predominant issue in all our lives. It also continues to be the predominant factor shaping our economy. And because it’s the Irish economy, ...

Businesses worst fears realised as 2021 gets off to terrible start

It wasn’t supposed to be like this.  When Irish businesses did what was asked of them and substantially shut up shop in mid-October it was in pursuit of ...

Govt engages with banks on further repayment breaks

The Government is engaging with the banking sector to ensure borrowers who need loan repayment breaks as a result of the further increase in Covid-19 Level 5 restrictions ...

Unemployment rate dips to 20.4% before latest lockdown

New figures from the Central Statistics Office show that the Covid-19 adjusted unemployment rate stood at 20.4% in December as the Covid-19 crisis continues to have a significant ...

Minister seeks to keep current PUP rates until March

Minister for Social Protection Heather Humphreys is expected to ask the Cabinet to approve the retention of the current Pandemic Unemployment Payment rates until the end of March, ...

Online shoppers see extra charges due to Brexit

Consumers are beginning to see the introduction of additional charges and taxes when shopping with British retailers. Since Brexit took effect on 1 January, new rules have been implemented ...

General Government deficit of €19 billion expected for 2020

The Minister for Finance has said he believes the level of financial support provided in the Budget will be sufficient to cope with the ongoing effect of Covid-19. ...

NAMA expects to transfer €1bn to Exchequer during 2021

NAMA generated €900 million cash in 2020, exceeding its target according to an end-of-year review published by the agency today. It expects to report a full-year profit for ...

Key actions required to ensure insurance reform – Alliance for Insurance Reform

The Alliance for Insurance Reform has said the insurance crisis can be sorted in 2021 if key actions are completed. Eoin McCambridge, managing director of McCambridge’s of Galway ...

Sterling weakens against euro as post-Brexit deal rally falters

The pound weakened versus the euro on Britain’s first day of trading outside the European Union, but strengthened against a softer dollar, climbing above $1.37 for the first ...

More ways to fine-tune your personal finances for the New Year

Despite it being a record year for savings in Ireland, much of it was accidental given that large sections of the economy were shut down for long periods ...

Pandemic has made homebuying more important for some – KBC Bank survey

A survey of potential housebuyers by KBC Bank Ireland has found that about a fifth said the pandemic had resulted in increased interest in buying or moving house.  ...

Housing supply will not meet demand for at least another three years – BPFI

Housing supply is unlikely to meet demand until at least the end of 2023, according to an analysis of the housing market by the Banking and Payments Federation ...

Govt report on insurance reforms to be published

A Government report outlining how to reform the assessment of insurance claims, and strengthen consumer protection, will be published this afternoon after consideration by Cabinet.  It is believed ...

Fewer contactless payments during Level 5 restrictions

The impact of Level 5 Covid-19 restrictions on consumer spending have been revealed in figures released by the Banking and Payments Federation. Cash withdrawals from ATMs and card spending dropped ...

Online spending last month double that of last year

Online spending in November was double what it was during the same month last year, as people were precluded from physical shopping in non-essential retail stores due to ...

Barnier briefing EU member states on Brexit talks

EU chief negotiator Michel Barnier is currently briefing EU member states on the state of play in the Brexit negotiations which Taoiseach Micheál Martin last night described as ...

More UK supermarkets waive tax relief

Sainsbury’s, Asda, Aldi and B&M will forgo UK property tax relief during the pandemic, following rivals Tesco and Morrisons and taking the total recouped by the UK government ...

EU regulator says derivatives market faces challenges on Brexit

The European Union’s top markets regulator has delivered a fresh warning that big European banks will face difficulties trading derivatives when they are locked out of London’s dominant ...

Hope fading post-Brexit trade talks could finish before Monday

Negotiations on a future EU-UK relationship will resume in London this morning, but hope is fading that the talks on a post-Brexit trade deal could finish today. Downing ...

First broadband plan community connection points open

The first 50 of 300 community Broadband Connection Points (BCPs), that are being rolled out as part of the National Broadband Plan (NBP) have been connected. BCPs are ...

Another full-blown lockdown ‘not inconceivable’ – Minister Ryan

The Minister for Transport Eamon Ryan has warned that another full-blown lockdown is “not inconceivable”, and that allocating further supports for the aviation sector will involve hard choices ...

Euro zone economic recovery in danger as Covid-19 resurgence hits service industries

The euro zone’s economic recovery faltered in September with growing evidence sectors and countries in the bloc are diverging as a resurgence of Covid-19 forces the reimposition of restrictions ...