The European Commissioner for Financial Services, Financial Stability and Capital Markets Union, has said nothing is off the table when it comes to potential further action by the European Union on sanctions against Russia. Mairead McGuinness said everything the EU does will be about attacking Russia’s war machine by “pulling away money” but while also…
Tag Archives: Ireland’s economy
The commercial vacancy rate across the country reached 13.9% in the final quarter of last year, the highest level recorded by GeoDirectory in nine years of reporting. There were 29,317 commercial units vacant across the country, according to the report which was prepared by EY. The data reveals that commercial vacancies increased in 15 out…
Growth in the country’s service sector picked up strongly in February, as the recovery from the pandemic gained momentum following the lifting of Covid-19 restrictions. The AIB Services PMI rose sharply to 61.8 from 56.2 in January and 55.4 in December. Readings above 50 indicate overall rises in activity. The latest reading signalled the fastest…
Ireland has risen to the top of the interest rates league table in Europe, that we pay on our mortgages. The average first-time buyer pays about €200 more per month than their eurozone counterparts on a. mortgage of a similar size. Though it all looks like it’s about to change, and the change could come…
The European Commission is inviting comments on the commitments offered by Insurance Ireland to address competition concerns around access to a data sharing platform which the insurance body runs. EU competition regulators announced last summer that they had formed the preliminary view after a two-year investigation that Insurance Ireland breached competition rules in the motor…
The cost of living and the price of housing are the key issues facing the economy and people’s personal finances, according to a survey by Permanent TSB (PTSB). PTSB published the latest edition of its Reflecting Ireland research series on Friday. The series polls public attitudes each quarter and includes recurring questions about how people…
Consumer sentiment dipped in February, according to the latest survey from KBC Bank Ireland. The drop was blamed on the increase in living costs experienced by households in recent weeks, as well as rising concerns about a conflict between Russia and Ukraine. Consumer sentiment fell to 77 in February – down almost five points on…
Minister for Finance Paschal Donohoe is “optimistic” that progress can be made on the completion of the EU banking union in the coming months, identifying it as “an important priority” for him in his role as president of the Eurogroup of euro zone finance ministers. Mr Donohoe said he was “committed” to fulfilling the mandate…
Women, younger people and the lower paid are strongly in favour of more flexible working arrangements according to a poll carried out on behalf of the Labour Party. In a survey carried out by Ireland Thinks, 71% of respondents agreed that employees who can work remotely should have the right to do so. Some 81%…
A new law strengthening consumer rights has been approved by the Government. The Consumer Rights Bill will provide protections over digital goods and services, meaning people will have the same rights over anything they stream or download as they do over a product or service they would buy in a shop. The legislation also cracks…