News

Economy grew by 5.5% last year – CSO

March 9, 2020By splashSyndicated

The country’s gross domestic product grew by 5.5% in 2019, likely making it the European Union’s fastest-growing economy again, new figures from the Central Statistics Office show today. The pace of growth was lower that the 6.3% predicted by the Finance Department as the country braces for the impact of the coronavirus outbreak. GDP, which […]

World stocks sink on coronavirus shock, oil price crash

March 9, 2020By splashstocks, Syndicated

European shares slumped across the board this morning as a lockdown in northern Italy due to the coronavirus outbreak and a 30% plunge in oil prices amplified fears of a global recession. London’s commodity-heavy FTSE 100 was down 8.6%,with shares of oil majors BP and Royal Dutch Shell down more than 20%. The top decliner […]

Hogan hopeful on mini-US trade deal, agriculture hurdles remain

March 9, 2020By splashSyndicated, trade

The European Union is hopeful of reaching a “mini” trade accord with the US in the coming weeks. But there are still difficult issues to overcome including barriers for farm products, EU Trade Commissioner Phil Hogan said today. Mr Hogan made his comments at a European Parliament Ireland event in Dublin about EU trade amid […]

ICTU calls on Government to protect income of workers hit by coronavirus

March 5, 2020By splashincome, Syndicated

The Irish Congress of Trade Unions has called on Taoiseach Leo Varadkar to ensure that workers affected by Covid-19 do not suffer any loss of income that might deter them from self-isolating to contain the spread of coronavirus. It comes as employers body Ibec refused to give an assurance that employers would provide sick pay to […]

IMF to make $50 billion in emergency funding available

March 5, 2020By splashimf, Syndicated

The International Monetary Fund has announced that it’s to make $50bn in emergency financing available for low income and emerging market countries to counter the impact of the corona virus outbreak. Its Managing Director, Kristalina Georgieva, said the outbreak is a ‘global problem calling for a global response.’ The IMF expects the global supply of […]

Bank group working on plan to manage coronavirus situation

March 5, 2020By splashbank, Syndicated

A cross bank co-ordination group is working on an industry wide plan to best manage the continued provision of banking services in the event of an escalation of the coronavirus nationally or an outbreak of the virus in a particular area of the country. The group, which is chaired by Banking & Payments Federation Ireland, […]

Manufacturing expands for second month in a row in February – PMI

March 2, 2020By splashmanufacturing, Syndicated

Factory activity grew for a second month in a row in February on strong output and orders, a survey showed today. But concerns about coronavirus and a domestic political stalemate tempered expectations for future growth. A six-year expansion in manufacturing came to an end in June as a slowdown in global trade and uncertainty over […]

Annual retail sales up 3.7% in January – CSO

March 2, 2020By splashretail, Syndicated

Retail sales volumes increased by 3.7% on an annual basis in January, new figures from the Central Statistics Office show. But retail sales were down 3.4% on a monthly basis following strong sales in December that last year included the “Black Friday” deals period. The CSO said that when volatile car sales are excluded, the […]

European shares stabilise after worst week since 2008

March 2, 2020By splashshares, Syndicated

European shares steadied in opening trade this morning after their worst weekly showing since the 2008 financial crisis. Shares were higher on rising hopes that major central banks will step in to counter the impact of the coronavirus epidemic on global growth. The pan-European STOXX 600 index rose 1.8% after a 12% slump last week, […]

Euro zone business lending still weak amid slowdown

February 28, 2020By splasheurozone, Syndicated

Lending to euro zone companies held at a two-year low last month despite lending to households hitting yet another post-crisis high, European Central Bank data showed today. Today’s new figures highlighted a growing divergence in the bloc’s economy. Struggling under the weight of a global trade war and a manufacturing recession euro zone exporters have […]

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