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Irish tourism sector sees ‘unprecedented’ level of inflation

New research from the Irish Tourism Industry Confederation shows that inflation in May in the tourism industry was seven times higher that the same time in 2019, which is putting significant cost pressure on the sector. The Irish Tourism Industry Confederation’s latest dashboard for May shows that the sector’s recovery continues to gather pace. But […]

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Musgrave invests €25m in Centra and SuperValu stores as part of sustainability strategy

Musgrave is investing €25 million in SuperValu and Centra stores as part of a new sustainability fund aimed at helping retailers to achieve net zero carbon by 2040. The supermarket supplier said the investment will result in an estimated 12% carbon reduction by the company over a two-year period. In the Republic of Ireland, Musgrave […]

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Ireland ranked third-most competitive euro area country

Ireland has been ranked as the third most competitive country in the euro area by the latest IMD World Competitiveness Rankings. It has also been placed as the 11th most competitive economy in the world out of 63, up from 13th last year. The development has been welcomed by the National Competitiveness Council (NCC), but […]

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Public sector pay talks to resume at WRC

Formal public sector pay talks between the Government and unions will resume at the Workplace Relations Commission. The negotiations opened yesterday and were adjourned after around four hours. The talks come after unions triggered a review clause within the existing public sector pay deal ‘Building Momentum’ due to rising inflation. Under the current agreement, public […]

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Taoiseach says UK protocol plans are ‘anti-business and anti-industry’

The Taoiseach has described the legislation on the Northern Ireland Protocol published by the British government yesterday, as “anti-business and anti-industry”. Speaking on his way into Cabinet this morning, Micheál Martin said the action by the UK represented a “fundamental breach of trust”. He said he did not believe that the legislation was well thought […]

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Ryanair CEO says summer fares will be up 7-9% on 2019 levels

Ryanair Group chief executive Michael O’Leary said today that bookings at Europe’s biggest budget airline are strengthening and he expects summer fares to be between 7% and 9% higher than pre-pandemic levels. Speaking to Reuters, he said the load factor, a measure of how well an airline is filling available seats, should be around 94% […]

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Major blaze hits Smurfit Kappa packaging plant in UK

Smurfit Kappa has resumed some operations at a packaging plant in the UK after a large fire ripped through the facility overnight, the local fire service said. West Midlands Fire Service said more than 100 firefighters had made progress containing the blaze that they were alerted to yesterday evening. It said there were no reports […]

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Euro zone to avoid recession, growth to accelerate in Q3 – ECB survey

The euro zone will avoid a recession this year and growth will accelerate noticeably after bottoming out in the second quarter, a key European Central Bank survey shows. The 19-country currency bloc has been hit by fallout from Russia’s invasion of Ukraine, which has sapped confidence, investment and households’ purchasing power via sharply higher fuel […]

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Growth in construction sector slowed again in May

Activity in the construction sector continued to increase in May but at its slowest pace in more than a year, according to the latest Construction Purchasing Managers’ Index from BNP Paribas Real Estate Ireland. It represents the third consecutive month of slowing growth in the sector, as rising prices and declining sentiment impacts activity. The […]

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Cheque payments hit new quarterly low in Q1 at 4.5 million – BPFI

Around 4.5 million cheque payments were made in the first quarter of 2022, according to the latest Payments Monitor from Banking & Payments Federation Ireland. While the figures is a new quarterly low for cheque volumes, it appears high in the age of digital banking. Gillian Byrne, Head of Payments, BPFI agrees that, “4.5 million […]

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