News

NEW mortgage lending has exceeded the amount of money being paid off existing home loans for the first time in seven years. Lending for house purchases rose by a net €27m in the last three months of last year. It was the first net increase in mortgage lending since the end of 2009. Over the […]

Ireland looks set to remain the best-performing economy in the eurozone for a fourth year in a row, despite escalating fears over Brexit. The fresh outburst of optimism follows a survey of economists by Bloomberg, which showed the consensus growth rate for 2017 has risen to 3.5pc from an earlier prediction of 3.1pc. The continued […]

Iceland’s finance ministry said yesterday that in the coming week it would lift the remaining capital controls that have been in place since the financial crisis in 2008, easing restrictions on households and businesses. “The removal of the capital controls, which stabilised the currency and economy during the country’s unprecedented financial crash, represents the completion […]

The great banking collapse of 2008, which still echoes resoundingly up and down the corridors of Irish business, had one small incidental spin-off. It helped Ireland introduce itself to the prudent conservatism of Canadian banking and financial services. The great banking collapse of 2008, which still echoes resoundingly up and down the corridors of Irish […]

Activity in the construction sector is expanding at a “sharp and accelerated” rate according to the latest Ulster Bank Construction Purchasing Managers’ Index (PMI). Both housing and commercial construction posted stronger rises in activity during the last month, with activity on residential projects increasing sharply for the second month in a row. Survey respondents cited […]

Dublin city will only see 800 new apartment units come to market over the next 18 months, according to the ceo of listed housebuilder Cairn Homes. Michael Stanley said the imbalance between housing supply and demand is as pronounced as it was when the company went public in 2015. “We have looked across Dublin City, […]

Mario Draghi, perhaps one of the most relaxed central-bank communicators in recent years, can stumble over his lines for once without anyone really losing the plot. On Thursday, the European Central Bank president found himself with an undeniably difficult task: be upbeat about the obviously firming euro-area recovery, without giving a signal that monetary policy […]

The rise in Government spending – led by wages – raced ahead of growth in the domestic economy last year, according to official figures. It comes as Public Spending Minister Paschal Donohoe warned that a growing clamour for wage increases must be balanced against the limited available finances. In a speech at an industrial relations […]

Two years on from securing €1.7m for the 7.8-acre Lough Derg Marina in Killaloe, Co. Clare, agents CBRE are offering prospective buyers an opportunity to acquire an established private marina facility in Galway. Located just 12km from the town of Portumna, Cloondavaun Bay Marina extends along 885 metres of the Lough Derg shoreline and sits […]

The State must refinance €52bn in debt by 2020 – more than the entire national debt before the financial crash, the head of the National Treasury Management Agency (NTMA) has said. The interest bill is trending towards €6bn, and could go even lower depending on where the low interest rate environment goes, Conor O’Kelly said […]