News

The Minister for Finance has taken part in AIB Group’s 2023 share buyback programme on a directed basis, which will further reduce the State’s shareholding in the bank. The buyback will see AIB purchase €215m of its shares from the State by way of an off-market purchase. This represents 54,674,818 shares or 2.05% of the […]

The cost of farmland and renting farmland is set to continue to rise in 2023, according to a new report from the Society of Chartered Surveyors and Teagasc. The report, based on returns from 134 SCSI members completed in January and February, forecasts average agricultural land prices will rise 8% in 2023, while average prices […]

Motor insurance premiums fell by 5% in the first six months of last year, according to new data compiled by the Central Bank of Ireland. The first mid-year motor insurance report of the National Claims Information Database also shows the cost of claims settled directly or through the Personal Injuries Assessment Board (PIAB) has fallen […]

Ratings agency Moody’s has upgraded Ireland’s sovereign credit rating. The move to the Aa3 ratings brings Ireland back to Moody’s AA category for the first time since 2010. It is the second time that Moodys has upgraded Ireland in under one year. In May of last year, it bumped the country’s credit rating up to […]

Development levies for housing could be abolished temporarily under plans to be considered by Cabinet tomorrow. The measure, yet to be approved, is designed to help increase “near-term delivery” and will apply for a set time period. Savings to be gained from the abolishment of the development levy will vary depending on where the construction […]

The number of corporate insolvencies recorded in the first three months of the year rose 22% compared to the same period last year. But overall the number of insolvencies is down slightly on the last three months of 2022, indicating that the forecasted steep increase in firms going out of business is not currently happening. […]

The US dollar and euro steadied today after strong US banking results firmed up expectations that the Federal Reserve and the European Central Bank will keep raising interest rates. Morgan Stanley reported first quarter profit yesterday that beat expectations. This added to rosy results from major US lenders and calming fears of a widening crisis […]

Office lettings in Dublin slumped in the first three months of the year, caused by the retrenchment in the tech sector and the growth in hybrid working. New data from BNP Paribas Real Estate found just 26,500 sq m of office space was let over the quarter. BNPRE is forecasting that the vacancy rate will […]

The Taoiseach has said that while there will be tax cuts and a welfare package in the next budget, it is also important to reduce the country’s debt levels and build up an “anti-austerity fund” for the future. Leo Varadkar was speaking at the Bloomberg New Economy Gateway Conference in Wicklow and was asked about […]

The first set of regulations for the trading of cryptocurrency are to be approved by the European Parliament today. If passed, the measures are designed to ensure that crypto assets can be traced, preventing money laundering, terrorist financing and other crimes. Many MEPs are of the view that cryptocurrencies are still in their infancy, with […]