Category: Syndicated

Euro zone set for deeper recession, weaker rebound

July 7, 2020By splasheurozone, Syndicated

The euro zone economy will drop deeper into recession this year and rebound less strongly in 2021 than previously thought, the European Commission forecast today, with France, Italy and Spain struggling the most due to the Covid-19 pandemic. The EU executive said the 19 nation single currency area would contract by a record 8.7% […]

62% of credit unions offer payment holidays amid Covid-19 crisis

July 6, 2020By splashcredit union, Syndicated

62% of credit unions have introduced payment holidays as a result of the Covid-19 crisis, a new survey of credit union CEOs and managers across the country shows. The survey also found that the three most in-demand services for credit unions have been the rescheduling of loans, the provision of bespoke services to cocooning members […]

Numbers on Pandemic Unemployment Payment fall as economy picks up pace

July 6, 2020By splashPUP, Syndicated

The number of people receiving the Covid-19 Pandemic Unemployment Payment has fallen from 439,000 last week to 412,900. This marks a decline of 26,100 over the last seven days, according to the latest figures from the Department of Employment Affairs and Social Protection. However, 63,000 PUP recipients have closed their claims in the last seven days […]

NTMA to auction three different bonds this week

July 6, 2020By splashNTMA, Syndicated

The National Treasury Management Agency said today it plans to raise between €1-1.5 billion through the sale of seven, ten and 30-year debt on Thursday. The NTMA has raised €18.5 billion from bond issuance so far this year from a €20-24 billion funding range. Its target was increased earlier this year to shore up government […]

Irish services sector sees partial recovery in June

July 3, 2020By splashservices, Syndicated

There was a partial recovery in the country’s services sector in June, according to AIB in its latest purchasing managers index. The business activity index rose to 39.7 from 23.4 in May, a level consistent with ongoing weak activity in the sector. The index measures activity on a scale of 1 to 100 with the […]

Central Bank warns economy could shrink by up to 14%

July 3, 2020By splashcentral bank, Syndicated

The Central Bank has said the economy could shrink this year by up to 14%, while it has also warned that unemployment could average as high as 17% this year. In its latest Quarterly Bulletin, the Central Bank also highlighted the risks to the economy of a no-deal Brexit. The Central Bank has said there is […]

Number of insolvencies down 12% as Covid-19 impact not fully materialised

July 3, 2020By splashcovid, Syndicated

There was a reduction in the number of company insolvencies in the first six months of this year, according to new figures from Deloitte. Today’s figures suggests that the impact of Covid-19 has not fully materialised. Deloittes said there were 273 company insolvencies between January and the end of June, a reduction of 12% on […]

NTMA due to hold two bond auctions in third quarter

July 2, 2020By splashNTMA, Syndicated

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 […]

NAMA completes transfer of €2 billion to Exchequer

July 2, 2020By splashnama, Syndicated

The National Asset Management Agency has completed its transfer of €2 billion to the Exchequer. The sum represents half the expected surplus from NAMA’s operations. The agency made the announcement at the publication of its annual report today. The expected balance of an additional €2 billion will be paid over the next two years. […]

EU reopens to outside visitors in bid to save tourism

July 2, 2020By splasheu, Syndicated

The European Union has reopened its borders to visitors from 15 countries, but excluded the United States where deaths are rising again and a top health official warned the country was heading in the “wrong direction”. The final list of nations safe enough to allow residents to enter the EU did not include Russia, Brazil or […]

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