The main retail banks, An Post Money and Credit Unions have opened 365,000 personal current accounts so far this year, as customers of Ulster Bank and KBC Bank Ireland continue switching providers ahead of the exit of the two banks from the Irish market. The figures from Banking and Payments Federation Ireland (BPFI) show that…
Wholesale prices and the price of raw materials for manufacturing businesses rose at an annual rate of 6.2% in July, according to the latest figures from the Central Statistics Office. However, the price of food ingredients, construction materials and energy all rose significantly more. Overall, food product ingredients rose 10.8% in the year to July,…
Oil rose today as renewed concerns over tight supply dominated market sentiment after Saudi Arabia warned that the major oil producer could cut output to correct a recent oil price decline. Brent crude gained 42 cents, or 0.4%, to $96.90 a barrel in early trade, after a choppy session yesterday when they dropped by more…
The euro dropped to a fresh two-decade trough today as Europe was buffeted by concerns about energy supply and economic growth, while the dollar held firm against major peers, supported by safe-haven flows. The euro hit $0.9909, its lowest since late 2002, and was last down 0.29% at $0.9914. Russia will halt natural gas supplies…
The Government is seeking the return of almost €34m which was wrongly claimed in Pandemic Unemployment Payments (PUP) at the height of the Covid-19 outbreak. The Department of Social Protection told RTÉ’s This Week programme that, up to the end of July, just over 18,700 Pandemic Unemployment Payment over-payments were recorded to a value of…
Having once been the butt of the joke amongst gamers, microtransactions have grown into a multi-billion dollar industry. Today, some of the most popular games in the world are built almost entirely on the model – as well as countless smartphone and tablet apps. But they’ve proven controversial too, with critics saying they encourage bad…
Electricity supply companies may be charged more for their customers to use electricity between the hours of 5pm to 7pm. The Commission for Regulation of Utilities (CRU) has launched a two-week consultation asking industry and electricity providers how they intend to reduce energy usage. Speaking on RTÉ’s Morning Ireland, ESRI economist Dr Muireann Lynch said…
Toll income on the country’s busiest road, the M50, surged 13% to €140 million last year as traffic volumes recovered from the early phases of the pandemic. The 2021 annual report by Transport Infrastructure Ireland (TII) shows however that the €140 million in toll income – which includes €7.5 million in penalty income – falls…
Euro zone inflation reached a new record high of 8.9% year-on-year in July, the EU’s statistics office has confirmed, with the core measure, excluding the most volatile components and key for monetary policy, also sharply up. The European Union’s statistics office Eurostat said consumer prices in the 19 countries using the euro rose 0.1% month-on-month…
Electricity supply companies may be charged more for their customers to use electricity between the hours of 5pm to 7pm, according to the Economic and Social Research Institute. The Commission for Regulation of Utilities (CRU) has launched a two-week consultation asking industry and electricity providers how they intend to reduce energy usage. Speaking on RTÉ’s…