Archive for April 2020

Small and medium sized firms here could need up to €5.7bn in liquidity supports over the coming months as a result of the Covid-19 crisis. According to a new paper from the Central Bank, the policies to contain the spread of the virus have placed a temporary block between the consumption demands of households and…

New figures show that digital advertising spend in the Irish market for 2019 rose by 17% to reach €673m, but the outbreak of Covid-19 will hit spending this year. The latest IAB PwC Online Adspend report shows that display advertising grew by 30% to €326m last year, driven by the growth of Social – which…

New figures from the Environmental Protection Agency show that greenhouse gas emissions from Irish power generation and industrial companies fell by 8.7% last year.  This mirrors a decrease of about 8.9% across Europe in 2019 and comes despite the country’s strong economic growth during the year. The EPA said the decrease in emissions was due…

The European Commission has said it is to implement a series of measures to assist the agri-food sector as a result of the impact of Covid-19. In a statement issued from Brussels, the Agriculture Commissioner Janusz Wojciechowski sad that he had decided to take what he called “swift action” because of the impact of the virus…

Oil prices extended their gains today amid signs that producers are cutting production to cope with a collapse in demand for fuel as the coronavirus outbreak ravages the world’s economies.  Brent crude was up 33 cents, or 1.6%, at $20.70 a barrel in early trade after rising more than 5% yesterday.  US West Texas Intermediate…

Europe’s banks are expected to have to set aside billions for potential loan losses as well as take profit hits because of the coronavirus crisis when they start reporting results over the next two weeks.  The region’s banks were already under pressure before the crisis with high costs, low returns, and demands to fix outdated…

Brent crude oil rose today after slumping below $16 a barrel to its lowest since 1999, supported by voluntary as well as the prospect of forced production cuts to tackle a glut caused by the coronavirus crisis.  This month, OPEC+ agreed new oil output curbs but global measures to prevent the virus spreading have driven…

Minister for Finance, Public Expenditure and Reform Paschal Donohoe has said that at the end of the 12-week introduction period he will be “tapering and changing” the Covid-19 pandemic welfare subsidies. Mr Donohoe said the welfare subsidies “cannot be sustained indefinitely”, but they can be sustained for long enough to allow incomes to be protected “for…

The price of agricultural land dropped by 6% last year, according to the latest review from the Society of Chartered Surveyors and Teagasc. The average price for an acre of land nationally was €8,823 in 2019, down from €9,346 in 2018. Munster recorded the biggest yearly fall in selling price at 9%, while selling prices…

Over one million people are now either fully or partially dependent on the State for income support, according to the latest figures from the Department of Employment Affairs and Social Protection.  584,000 people are now receiving the Covid-19 Pandemic Unemployment Payment introduced just over a month ago.  The latest figures indicate that 50,000 of those…