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Irish households have ‘never been better off’ – employers’ group

Irish households have never been better off and now have a combined €4bn more of savings than they owe in debts. The total amount of loans owned by households has fallen by €60bn since the start of the crash, thanks to debt repayments, write-offs and to the slowdown in the new mortgage market, according to […]

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Supermac’s Pat McDonagh to spearhead insurance group battling for reforms

A PRESSURE group is set to launch in the coming week to fight for changes to ensure lower insurance costs for businesses. The Alliance for Insurance Reform is set to be revived a decade-and-a-half after it was successful in bringing about huge changes. The venture is again being spearheaded by Supermac’s owner Pat McDonagh, amid […]

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Leading Irish supermarket confirms it will pay all staff the living wage

A leading Irish supermarket has confirmed it will pay all staff the so-called ‘living-wage’ of €11.70 an hour. German supermarket retailer Aldi has the new minimum rate of pay for its Irish staff. The rate of pay matches the living wage rate recommended by the Living Wage Technical Group, and makes Aldi the first supermarket […]

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Employment in multinationals reaches a record high

The number of people employed in multinationals has reached a record high of over 210,000, the IDA has said. The figure for 2017 surpasses the overall five-year target of 209,000, which was set in 2015 as part of the agency’s strategy out to 2019. The number of new investments totalled 237. Some 19,851 new jobs […]

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Services sector enjoys strong finish to 2017

The services sector has enjoyed a strong finish to 2017, according to the latest Investec Services PMI Ireland report. The headline PMI strengthened to 60.4 in December, an eight month high, from November’s 56.0 outturn. Any mark over 50 is deemed growth. The improvement appears to have been domestically-driven, as the new export orders component […]

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State pulls in highest ever amount of tax with a record €50bn

The tax take for last year reached a record high of just over €50bn. The State took in €2.87bn more in taxes last year than had been initially expected. The figures were further boosted by the one-off sale of AIB shares, according to the Exchequer Returns published last night. The State’s tax income is now […]

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Plans for huge offshore wind farms will require port infrastructure upgrades

“Mega” offshore wind projects off Ireland’s coast will require increased investment in the country’s port infrastructure, according to a Dublin-based consultant engineering group. GDG (Gavin & Doherty Geosolutions) is currently working with the Sustainable Energy Authority of Ireland on a gap analysis designed to assess the strengths and weaknesses of the offshore renewable-energy supply chain […]

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Ireland up in global economic table – but Asia on the rise

Ireland has risen two places in a global economic ranking, but is expected to fall over the next decade as Asian economies leapfrog those in the west. The index by the London-based think tank Centre for Economics and Business Research (Cebr) ranks Ireland 33rd in the world out of 192, up from 35th place last […]

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State borrowing inevitably going to get trickier

The National Treasury Management Agency’s (NTMA) charge out of the traps, expected as early as this morning, will test the market in more ways than one. Wholesale regulatory changes, collected into the Markets in Financial Instruments Directive or Mifid II, come into effect across Europe today and, at a purely technical level, both human and […]

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Everything you need to know about sweeping finance reforms

European finance has been abuzz over an obscure acronym – MiFID II – set to radically change how assets from stocks to commodities are traded and investors’ money is managed. EU firms have spent more than €1.6bn preparing for it. Regulators say it will protect investors, boost transparency and rebuild trust tarnished by the crash. […]

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