Demand for bank loans across the 20-nation euro zone rose in the third quarter and a further increase is expected in the final three months of the year, with household mortgages driving the expansion, a European Central Bank survey showed today. Lending growth has been hovering just above zero all year as high interest rates…
Construction activity contracted slightly in September, the fourth time it has decreased in the last five months. The BNP Paribas Real Estate (BNPPRE) Ireland Construction Total Activity Index fell to 49 from 50 a month earlier. Activity in the housing sector resumed expanding following a tiny dip in the previous month. It means that activity…
The average interest rate on new Irish mortgages remained unchanged for the third month running in August at 4.11%, new figures from the Central Bank shows today. The standstill comes despite a European Central Bank rate cut in June of 0.25%. It means that the average cost of a new mortgage in Ireland remains the…
Ireland is to miss a deadline to transpose a new European Union cybersecurity directive into Irish law. The Network and Information Security Directive, or NIS2, is supposed to be adopted by EU Member States by 17 October. It requires organisations in both the public and private sector to boost their cyber defences. NIS2 expands the…
Smartphones and watches are becoming the preferred payment method for many, new data shows. The latest figures from Banking and Payments Federation Ireland (BPFI) show that half of all contactless payments are now made using mobile wallets such as Apple Pay or Google Pay, rather than cards. In the 12 months to June, a total…
A drop in energy prices has resulted in a significant fall in inflation which declined from 1.7% in the 12 months to August to 0.7% in September – the lowest level since March 2021. This means that prices are still rising on an annual basis, but they are doing so at a much lower pace…
European Central Bank policymakers appeared content with the drop in inflation when they met last month but argued for a gradual policy easing given stubborn price pressures, the accounts of their September 12 policy meeting showed today. The ECB cut interest rates last month and said it would keep an open mind about October but…
More than three in five business leaders believe Budget 2025 will help them achieve their strategic priorities amid pressing business challenges, a new survey from the Irish Management Institute reveals. The new research is based on a survey of 180 senior business leaders across private, public and semi-state organisations in Ireland attending the IMI’s National…
The public is being encouraged to dig out unwanted electronics and cables which could contain valuable metals. Ahead of International E-Waste Day next Monday, WEEE Ireland, the country’s national compliance scheme for the recycling of e-waste, has warned that disposing of e-waste incorrectly has high financial and environmental costs. Increasing recovery and recycling rates, it…
There are growing risks to the EU budget due to a record amount of debt, Russia’s war against Ukraine and high inflation, according to the annual report of the EU’s financial watchdog. The report warns that the EU will need to find new funding models to pay for upcoming commitments, such as enlargement, and potentially…