Archive for March 2022

New figures from the Central Statistics Office show that the proportion of retail sales conducted online fell to 5.8% in January of this year compared to 9.7% during the previous month. It also marked a fall from a rate of 11% in January 2021 but was up from a rate of 3.2% in January 2020,…

A new website has been launched that will allow Irish businesses to make “welcome offers” of free or discounted goods to people fleeing the war in Ukraine. The ‘Tech For Good Dublin’ community has established the new site which is called ‘Pryvit.ie’. ‘Pryvit’ means hello in Ukrainian and the aim of the not-for-profit initiative is…

There was reduced reliance on gas for our electricity needs in February, according to Gas Networks Ireland, as multiple storms brought wind generation capacity to a record high. Wind generated just over half of Ireland’s electricity needs in the month, peaking at 77% and never dipping below 8%, the latest Gas Demand Statement showed. That…

Mary* has been a customer with Ulster Bank for 30 years. She is a sole trader based in the west of Ireland. She is 60 and considers herself to be reasonably tech-savvy since she has a successful business, selling her products online. All of her personal and business banking is done through Ulster Bank. The…

Price increases for gas and electricity announced by Bord Gáis are difficult, but reflect the underlying volatility of wholesale prices in the market, according to the chairperson for the Commission for Regulation of Utilities (CRU). Aoife MacEvilly said: “Even with competitive pressures, the reality is we’ve got very high and volatile wholesale gas prices, which…

New rules aimed at ensuring motor and home insurance customers do not get penalised for their loyalty are to come into effect from July 1. It means that from that date it will not be possible for insurers to charge any renewing customer a premium that is higher than they would have charged a consumer…

More lenders are likely to follow the lead of ICS Mortgages in the coming weeks in raising fixed rate products, according to one treasury specialist who works with businesses on their financial planning and lending needs. John Finn, Managing Director Treasury Holdings and Founder of the Treasury Hub, said the move upwards was entirely predictable…

Euro zone finance ministers have agreed to tighten fiscal policy a little next year after three years of pumping billions into the economy due to the coronavirus pandemic, but also to be ready with more cash should the war in Ukraine make it necessary. “The fundamentals of the euro area economy are strong,” the ministers…

Six in 10 Irish SMEs take no particular steps to protect customer data online or do not know how to, according to new research. The study from .IE, the managers of Ireland’s online .ie address, found that just 15% of SMEs said they use a firewall or antivirus software, 11% use two-factor authentication and just…

A new report shows that people are becoming more concerned about their jobs, paying bills and other day to day worries, but they are still saving more than before the outbreak of Covid-19. Bank of Ireland said its Savings and Investment Index made a strong recovery in the first quarter of this year, with a…