Euro zone business activity grew in July for the first time since the coronavirus pandemic hit, as more parts of the economy that were locked down to curtail its spread reopened and people emerged from their homes to work and spend money. Across the world almost 15.5 million people have been infected by the coronavirus…
The Government has today announced the July Jobs Stimulus, a €7.4bn package of measures designed to stimulate a jobs-led recovery and build economic confidence while continuing to manage the impact of Covid-19. Launching the Jobs Stimulus, the Taoiseach, Micheál Martin TD said: The stimulus package announced today will protect existing jobs while creating new and…
DIGITAL payments company Revolut has made its child-friendly money management app available for those who use its free online current account. Up to now Revolut Junior was only an option for those paying a monthly fee for using the Metal and Premium accounts. It is now available for free to all adults who have a…
The phrase ‘the cheque is in the post’ is set to become redundant. New figures show that the use of cheques in this country has plummeted by almost half in the last four years. The pandemic has accelerated the decline in the use of cheques as contactless payments have been encouraged. In the first three…
The Government’s economic stimulus plan, which will be published today if it is signed off by the Cabinet, is a tricky exercise at a time when there is nervousness about rising numbers of Covid-19 cases. It is difficult to reboot the economy if the public remains concerned about a second wave, and no one is…
In the ‘deal before dawn’ to secure a multi-billion euro Covid-19 recovery package and a €1.8 trillion budget package to see the EU through the next seven years, how did Ireland play its hand? Our reporter Eleanor Burnhill has been looking at Ireland’s potential gains and losses. Heading into his first EU summit, Taoiseach Micheál Martin indicated that Ireland would…
Small businesses spent on average €4,000 on Covid-19 measures to comply with requirements for trading, according to the Central Statistics Office. The findings of its latest survey on the impact of the pandemic on businesses, show the cost of implementing measures varied by the size of the enterprise. Micro enterprises, which have less than 10…
Around four in ten firms surveyed by the Central Bank say they have unpaid invoices. The outstanding amounts equate to about 20% of 2019 revenue, according to the regulator, which may result in increased pressure to cash flow. As many as 42% of firms said they had changed or deferred payments to manage cash flow….
The latest report by the Banking and Federation Ireland shows a direct relationship between consumer spending and mortgage approvals. Impact of lockdown restrictions In May of last year, the housing market experienced an upward trend shown by a rise in mortgage approvals. This was before the onset of the pandemic. However, when Covid-19 restrictions were…
Taoiseach Micheál Martin has said Ireland will make their own contribution to the “own resources” aspects of the €750 billion Covid-19 recovery fund. Speaking in Brussels ahead of an EU summit, Mr Martin said Europe needs to give far more detailed consideration to other “own resources” proposals, including for example a digital tax. “The full implications…