News

Number of Irish returning home at highest level since 2007

Nearly 29,000 Irish nationals returned home to live and work in the year to the end of April, the highest number for 13 years. Figures published by the Central Statistics Office (CSO) show the overall population rose by 1.1 per cent, or 55,900 people, year-on-year to 4.98 million. An increase of 1.3 per cent, or 64,500 individuals […]

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Lockdown opens up opportunities for online Irish start-ups

While Covid-19 has had a devastating impact on the global economy with a long recovery to follow, certain sectors have benefitted from its effects. Not just retail giants such as Amazon but small and scrappy Irish start-ups have experienced growth and even secured funding in these tumultuous times. Lasting memories of lockdown will be grocery-related: queuing for […]

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BidX1 veteran Hoban’s Offr accepted as he raises €3m of fresh funding

Offr, a property tech startup co-founded by former Savills and Allsop / BidX1 auctioneer Robert Hoban, has raised €3m in funding from Barclays Bank and a group of angel investors and venture capital firms. Offr is the first Irish company to receive a follow-on investment from Barclays through its London accelerator programme. The bank and […]

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State credit rating stable as Moody’s sees 2021 rebound

The dramatic rise in the Government deficit this year does not make it more likely that Ireland will default on the national debt, according to analysts at Moody’s. The ratings agency has kept its stable A2 credit grade for Ireland, citing strong growth prospects once the Covid-19 threat is contained. “Our credit view of Ireland […]

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Irish economy to contract by 8.5% in 2020, Moody’s warns

The Irish economy will contract by 8.5 per cent this year as a result of the economic shock triggered by the coronavirus pandemic, ratings agency Moody’s has warned. The agency, which had previously predicted only a small economic contraction of 1.6 per cent of gross domestic product (GDP), said the Government’s prudent management of the […]

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Gas Networks Ireland reduces carbon footprint by 27pc

Gas Networks Ireland has reduced its carbon footprint by 27pc over the past ten years, according to the company’s 2019 Sustainability Report released today. The networks operator plans to reduce its carbon emissions further going forward, both within its own operations and from decarbonising the gas transported through the network. It also has a 99pc […]

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Large number of firms risk collapse under second lockdown

Nearly two-thirds of businesses fear another lockdown, while one in five is trading at a loss, a CSO survey has found. KBC Ireland economist Austin Hughes said the figures showed that most firms have proved surprisingly resilient – but a large minority would risk collapse if a Covid-19 surge forced a second lockdown. The survey, […]

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Draghi says stimulus can aid recovery after Covid but warns on ‘bad’ debt

Former European Central Bank (ECB) president Mario Draghi has warned governments to use the massive stimulus they’ve deployed in the coronavirus pandemic to upgrade their economies or face the risk of another debt crisis. In his first high-profile appearance since leaving his post in October, Mr Draghi called for “credible” economic policies to avoid disillusionment […]

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Euro area sheds almost half of jobs created since 2013

The coronavirus pandemic has wiped out nearly half of the 12 million euro-area jobs created in the seven years since the last recession, in another sign of the enormous damage wreaked on the economy. Employment slumped by 4.9 million in first half of the year, almost all in the second quarter when the most stringent […]

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Property prices rise again in June despite pandemic

Property prices rose marginally in the year to June despite the pandemic causing massive disruption to the housing market. Prices were up by just 0.1pc in June when compared with the same month last year. House building has been heavily set back by the virus, with estate agents reporting a fall off in viewing activity. […]

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