News

Irish household wealth hits record €198,498 per person

Irish household net worth soared to a record high in the final three months of last year, despite the various economic pressures, new data from the Central Bank shows. In total, household net worth rose €38.5 billion between October and the end of December, to reach €995 billion. This equated to €198,498 for every man, […]

Continue Reading

Inflation at its highest rate in 22 years

The annual rate of inflation rose to 7% in April, according to figures published by the Central Statistics Office – its highest rate in 22 years. The CSO said this marked an increase from 6.7% in March and was the largest annual increase in inflation since November 2000 when inflation also stood at 7%. The […]

Continue Reading

Just how ‘early’ will the ECB start increasing interest rates?

“Early.” This five letter word caused a slight ripple this week for those who read the tea leaves on the utterances of central bankers. Christine Lagarde, President of the European Central Bank, said in a speech in Slovenia that the bank’s purchases of bonds under its Asset Purchase Programme should conclude “early in the third […]

Continue Reading

Market rents rise as supply hits new low – daft.ie

Market rents in the first three months of the year were almost 12% higher than they were in the same period last year, according to the latest report from property website daft.ie. The average market rent between January and March stood at €1,567 per month, the report concludes, which was up almost 3% on the […]

Continue Reading

Cairn Homes expects build cost inflation of 6% for 2022

Cairn Homes said it expects total build cost inflation – including infrastructure, materials and labour – of about 6% for this year but reiterated its full year guidance. In a trading update ahead of its AGM in Dublin today, the company said the build cost inflation outlook is uncertain. But it added that it anticipates […]

Continue Reading

FBD’s car insurance premiums down 9% this year

FBD Holdings said today that its average motor insurance premium is 9% lower than the same time in 2021 and the company is seeing strong retention of existing customers. In a trading update ahead of its AGM today, FBD said the underwriting performance of its business for 2022 to date has been in line with […]

Continue Reading

Lakeland Dairies CEO Michael Hanley to retire in December

The Chief Executive of Lakeland Dairies, Michael Hanley has announced his decision to retire at the end of this year. He has held the position for 16 years but has worked with the co-operative for 36 years. During his term as CEO, Mr Hanley led the transformation of Lakeland Dairies to become the second largest […]

Continue Reading

Sharp rise in revenue reported by ferries group ICG

Shipping operator Irish Continental Group has reported an increase in revenue for the first four months of the year. In a trading statement, the group provides comparisons to the same period last year as well as to the first four months of 2019, the year before the pandemic struck. ICG said group revenue up to […]

Continue Reading

Lagarde suggests ECB rate hike could come as soon as July

European Central Bank president Christine Lagarde has hinted the Frankfurt-based institution could raise its interest rates from historic lows as soon as July as inflation in the eurozone soars. The ECB should end bond-buying “early in the third quarter”, Lagarde said in a speech in Ljubljana, and could then raise interest rates “only a few […]

Continue Reading

British govt to prioritise further talks on Northern Ireland Protocol

The British government is not expected to announce any moves to unilaterally scrap the Northern Ireland Protocol. There had been reports in the British media that the Queen’s speech, which sets out the legislative programme for the year ahead, would announce a law to override the Northern Ireland Protocol. That would be regarded as a […]

Continue Reading