Author: splash

CCPC tells businesses to act independently on prices

The Competition and Consumer Protection Commission has warned businesses that despite economic challenges, they must act independently in their commercial decisions, especially when setting prices and charges.  The warning comes on the back of engagement between the CCPC and a number of trade associations after they made public statements about new potential charges and price increases, […]

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NTMA due to hold two bond auctions in third quarter

The National Treasury Manangement Agency said today it plans to hold two bond auctions in the third quarter of this year. The NTMA said it will hold bond auctions on July 9 and September 10. The agency is also planning three Treasury Bill sales and these are pencilled in for July 16, August 20 and […]

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Euro zone factory downturn eased in June as lockdowns loosened

The downturn in euro zone manufacturing was not as bad as initially thought last month after more economies in the bloc eased restrictions imposed to quell the spread of the coronavirus.  Over 10 million people have been infected by the virus globally and more than 500,000 have died. This lead governments to impose lockdowns and force […]

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Manufacturing bounces back to pre-pandemic growth rate – PMI

The manufacturing sector returned to growth in June after recovering almost all of the sudden deterioration seen following the coronavirus-related shutdown of most of the economy in March, a survey showed today.  The economy here has opened more gradually than much of Europe with large parts of the services sector including hotels, restaurants, hairdressers and […]

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Euro zone bank lending continues to surge amid crisis – ECB

Lending to euro zone companies continued to surge in May as firms relied heavily on bank credit to stay afloat amid the continent’s coronavirus-related lockdown, data from the European Central Bank showed today.  With millions of people in stuck at home and much of the bloc’s economy mothballed, activity came to a standstill in March […]

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Fall in mortgage approvals but market shows resilience

The number of new mortgage approvals in May was nearly 62% lower than the same month last year. According to the Banking and Payments Federation Ireland, the decrease was not unexpected given the scale of the lockdown and physical restrictions due to Covid-19. In total 1,879 new mortgages were approved by lenders here in May […]

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Workers on Covid-19 benefit payments face tax bills

A large number of full-time workers in receipt of the Temporary Wage Subsidy Scheme or Pandemic Unemployment Payment face tax bills of between €150 and €2,828 by the end of the year, Taxback.com has warned. The latest Taxback.com Taxpayer Sentiment Survey revealed that 57% of respondents receiving either payment are not aware that a future […]

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Unions warn of fallout from wage legislation ruling

A trade union has warned employers of an “industrial war” if they try to renege on pay and pension agreements with workers. It comes after the High Court yesterday deemed legislation allowing for the setting of legally enforceable pay and conditions for workers in various employment sectors to be unconstitutional. The Connect Trade Union, which represents workers […]

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Hotel occupancy rates set to fall from 2019 high of 73% to 32%

A survey of hoteliers has found that average national occupancy levels are set to dramatically fall from the highs of over 70% last year to just over 30% this year. Dublin occupancy levels are forecast to be down by half with regional levels down almost 40%.   As a result, Dublin hotels expect to be […]

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Economic growth averaged 5.2% every year between 2013 and 2018 – CSO

Growth in the Irish economy averaged 5.2% per annum from 2013 to 2018, according to an analysis of new CSO data. In a Special Article for the ESRI, Professor John Fitzgerald describes a measure, called Net National Product, as the best picture of the “economic welfare of those living in Ireland”. For years, the traditional measure of […]

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