The International Monetary Fund has further lowered its forecasts for global economic growth this year. In its World Economic Outlook published today, the IMF said economies around the world have been more negatively impacted in the first half of the year than it had anticipated and recovery has been more gradual than previously forecast. […]
Author: splash
Global trade is expected to drop around 18.5% year-on-year in the second quarter of 2020 in a huge coronavirus-driven plunge which nonetheless could have been much worse, the WTO said today. “Initial estimates for the second quarter, when the virus and associated lockdown measures affected a large share of the global population, indicate a year-on-year […]
The impact of Covid-19 on how consumers are spending is recorded in the latest figures from the banking sector. In May, consumers spent €600 million using contactless payments, the highest monthly figure on record. The figures were compiled by Banking and Payments Federation Ireland. Every day in May, more than €19 million was spent using […]
A Government fund aimed at helping small and medium-sized enterprises to reopen and rebuild – as the Covid-19 pandemic restrictions are eased – needs to be at least quadrupled in size, according to employers’ group Ibec. Ibec also said that loans with 100% State-backed credit guarantees and an interest rate holiday of 12 months are required if small […]
A new report warns that up to 50% of restaurants in Ireland face closure unless an emergency grant aid package is issued by the Government. The latest Restaurants Association of Ireland report also warns that recently promoted staycations or weekends away will not be an option if the tourism and hospitality industry is not supported. […]
Decisions taken in the next six months will impact the small and medium enterprise sector for the next five years, according to a treasury specialist who works closely with the sector. John Finn, Managing Director of Treasury Solutions – which helps businesses deal with a range of issues including cash flow, lending and currency management […]
465,900 people are now receiving the Covid-19 Pandemic Unemployment Payment – a drop of 32,800 over the last week. This is according to the latest figures from the Department of Employment Affairs and Social Protection today. At the peak of the Covid-19 crisis, 598,000 people who had lost their jobs were claiming the Pandemic Unemployment Payment. Since […]
An air cargo boom driven by demand for protective gear against the coronavirus has peaked. Rates, while still 50% above normal levels, are falling in a worrying trend for airlines relying on freight revenue in the absence of passengers. Declining prices may deal a blow to carriers that are scrambling to move cargo to offset […]
France said a US decision to quit global talks on how to tax big digital firms such as Google, Amazon and Facebook was a “provocation”. This comes as the European Union said it could impose taxes even if no deal was reached by the end of the year. The latest trade row was ignited after the […]
The number of property transactions slowed dramatically in April, according to the latest figures from the Central Statistics Office. House prices also fell last month but are marginally ahead of where they were a year ago, the CSO figures show. The CSO’s Residential Property Price Index shows that house prices nationally were 0.5% higher in […]
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