The Central Bank has today published a revised simplified Standard Financial Statement to assist borrowers in financial distress after a review. The SFS is used by banks and lenders to gather information from distressed borrowers on their current financial situation. Once it is completed, the lender can assess whether it can offer a borrower an…
Tag Archives: Ireland’s economy
New car registrations for 2021 were up 19%, according to statistics published by the Society of the Irish Motor Industry. Total new car registrations for 2021 finished at 104,932. Registrations were down 10.4% on 2019 figures. New Light Commercial Vehicle registrations in 2021 saw an increase of 32.3% compared to 2020. They were also 13.4%…
Growth in the country’s service sector slowed sharply for the second successive month in December as firms reported that a rising wave of Covid-19 infections was dampening demand, a survey found today. The AIB IHS Markit Purchasing Managers’ Index (PMI) dropped to 55.4 from 59.3 in November and 63.4 in October. The index hit a…
The Irish advertising market recovered strongly in 2021 from the pandemic hit to spending in the previous year, according to a report from media investment company, GroupM Ireland. The report captures growth of 20% in the advertising market last year following a decline of 6% in 2020 due to the effects of the onset of…
The introduction of minimum pricing on alcohol in Ireland came into force today. The new law will largely affect alcohol sold in off-licences, shops, and supermarkets. A broad breakdown of the new measures shows a standard bottle of wine cannot be sold for less than €7.40 and a can of beer for less than €1.70….
Minister for Finance Paschal Donohoe has said that the heightened level of pandemic supports will remain in place until the end of January in line with most recent public health restrictions. Paschal Donohoe said the Government will monitor the current level of restrictions on a daily basis, but that the plan is not to change…
Finance Minister Paschal Donohoe said he intends to sell part of the State’s 71.12% directed shareholding in AIB Group over the next six months. The shares will be sold through a pre-arranged trading plan that will be managed by Merrill Lynch International (“BofA Securities”). BofA Securities was appointed to the role from the Department of…
Demand for gas was up by almost a fifth in November as temperatures plummeted around the country. The usage of gas for domestic purposes was up 16% on the previous month and was up 7% on the same month last year. It comes as consumers are being hit with higher energy costs as inflation impacts…
The Government is seeking views from interested parties on a new EU law intended to make multinationals disclose their tax payments and activities in each member state. Ireland had opposed the so-called country-by-country reporting proposal at an EU level which would force multinationals with revenue over €750m to be more transparent about their tax activities….
Irish consumers could pay as much as €170m in additional customs duty this year as a consequence of Brexit, an analysis suggests. Figures to the end of November show that €465m in customs receipts were recorded by the exchequer. Based on the trend in recent months and the increased consumer spending in the run into…