News

Oil prices fall on oversupply and storage capacity fears

Oil prices fell today on concerns about scarce storage capacity and global economic doldrums from the coronavirus pandemic.  US oil futures led losses, falling by more than $2 a barrel on fears that storage at Cushing, Oklahoma, could reach full capacity soon.  US West Texas Intermediate June futures fell $2.86, or 16.88%, to $14.08 a […]

Continue Reading

Central Bank: SMEs will need up to €5.7 billion in funding to weather coronavirus storm

The Central Bank has said that small and medium-sized businesses will need up to €5.7 billion in emergency cash as a result of the Coronavirus lockdown to cover costs. The deputy governor of the Central Bank, Ed Sibley, said that SMEs have a really important role to play in the Irish economy, both socially and […]

Continue Reading

Oil heads for steep weekly slide after coronavirus turmoil

Oil prices were broadly steady today but were headed for their third weekly loss as production shutdowns failed to keep pace with sliding demand due to the coronavirus crisis.  Brent crude was up 18 cents, or 0.84%, to $21.51 so far today, having risen 5% yesterday, while US oil was steady at $16.50 a barrel, […]

Continue Reading

Business and consumer sentiment sink in April

A new survey shows that with the country more or less in full lockdown, job losses soaring and incomes under pressure, consumer and business confidence both sank in April.  The Bank of Ireland Economic Pulse came in at 34.3 in April, the lowest reading in its history.  The index, which combines the results of the […]

Continue Reading

EU wants trillion euro coronavirus recovery plan agreed within two weeks

EU leaders have set a target of two weeks to reach agreement on a trillion euro plus recovery plan for countries stricken by the coronavirus pandemic. This follows a four hour video conference today. The plan will involve leveraging the EU’s one trillion euro seven year budget in order to provide loans and grants to the […]

Continue Reading

SMEs could require up to €5.7bn in liquidity supports

Small and medium sized firms here could need up to €5.7bn in liquidity supports over the coming months as a result of the Covid-19 crisis. According to a new paper from the Central Bank, the policies to contain the spread of the virus have placed a temporary block between the consumption demands of households and […]

Continue Reading

Irish digital advertising spend grew by 17% last year

New figures show that digital advertising spend in the Irish market for 2019 rose by 17% to reach €673m, but the outbreak of Covid-19 will hit spending this year. The latest IAB PwC Online Adspend report shows that display advertising grew by 30% to €326m last year, driven by the growth of Social – which […]

Continue Reading

Power generation and industrial emissions drop by 8.7% – EPA

New figures from the Environmental Protection Agency show that greenhouse gas emissions from Irish power generation and industrial companies fell by 8.7% last year.  This mirrors a decrease of about 8.9% across Europe in 2019 and comes despite the country’s strong economic growth during the year. The EPA said the decrease in emissions was due […]

Continue Reading

Oil rises for second day as producers trim output to respond to demand loss

Oil prices extended their gains today amid signs that producers are cutting production to cope with a collapse in demand for fuel as the coronavirus outbreak ravages the world’s economies.  Brent crude was up 33 cents, or 1.6%, at $20.70 a barrel in early trade after rising more than 5% yesterday.  US West Texas Intermediate […]

Continue Reading

EU announces €80m support programme for agri-food sector

The European Commission has said it is to implement a series of measures to assist the agri-food sector as a result of the impact of Covid-19. In a statement issued from Brussels, the Agriculture Commissioner Janusz Wojciechowski sad that he had decided to take what he called “swift action” because of the impact of the virus […]

Continue Reading