News

Banks told Covid-19 no excuse to delay beefing up EU Brexit hubs

Banks in the UK are coming under growing pressure from regulators to get their new hubs in the European Union up and running even as Covid-19 and foot-dragging by clients disrupt Brexit relocation plans, banks and regulators say.  Unfettered direct access to the EU for Britian’s financial services sector, worth around £26 billion a year, […]

Continue Reading

Brokers warned on accuracy of returns to Central Bank

Some financial brokers are still not aware that they need to submit audited accounts to the Central Bank every year. The regulator said there is also a need for greater accuracy in the data submitted to it by some intermediaries. It said it was engaged in follow-up supervisory check-ups with firms where gaps have been […]

Continue Reading

Mortgage approvals rose in July

There was a sharp rise in the number of people approved for a mortgage last month compared with the previous month. Close to 3,400 buyers were approved for a home loan, a rise of 51pc on the figures for June. But this was still down 30pc on the number approved for a mortgage in July […]

Continue Reading

International finance took smallest Covid hit – report

The international financial services and insurance sectors are set to be among the industries least impacted by Covid-19, according to a report from the Department of Business, Enterprise and Innovation. The assessment does not include the domestic banks, which have all posted interim losses this year due to the global pandemic. Nonetheless, the sector is […]

Continue Reading

Strategic Investment Fund seeks new chief as O’Callaghan moves on

The head of the Irish Strategic Investment (ISIF) Eugene O’Callaghan plans to step down from his role at the end of 2020. ISIF falls under the management of the National Treasury Management Agency (NTMA), which will begin a recruitment process next month to appoint a new ISIF director. ISIF was created in December 2014 from […]

Continue Reading

German coalition agrees €10bn extension of Covid-19 relief

German coalition parties agreed on Tuesday to extend measures to cushion the effects of the coronavirus crisis on Europe’s biggest economy at a cost of up to €10bn, including prolonging a short-time work scheme and freezing insolvency rules. The German economy contracted at its steepest rate on record in the second quarter and the government […]

Continue Reading

Sterling slips against euro after scant progress in Brexit talks

Sterling slipped against the euro today on lingering concerns over Brexit, after British and European Union negotiators said on Friday they had made no real progress in their latest talks on relations after December 31.  Against the euro, the pound was down 0.2% at 90.28 pence.  Sterling was slightly up against the US dollar, having […]

Continue Reading

Up to 36,000 homes needed each year to meet demand – new report

UP TO 36,000 homes will be needed each year to meet demand and there have been calls to introduce a stimulus package for first-time buyers, according to a new survey. The report found this number of homes will be vital to meet demand across the next two decades. But clear suggestions were made for schemes […]

Continue Reading

Strategic Investment Fund seeks new chief as O’Callaghan moves on

The head of the Irish Strategic Investment (ISIF) Eugene O’Callaghan plans to step down from his role at the end of 2020. ISIF falls under the management of the National Treasury Management Agency (NTMA), which will begin a recruitment process next month to appoint a new ISIF director. ISIF was created in December 2014 from […]

Continue Reading

Germany agrees €10 billion extension of Covid-19 relief

German coalition parties have agreed to extend measures to cushion the effects of the coronavirus crisis on Europe’s biggest economy at a cost of up to €10 billion. The measures include prolonging a short-time work scheme and freezing insolvency rules.  The German economy contracted at its steepest rate on record in the second quarter. The […]

Continue Reading