Archive for August 2022

The commercial vacancy rate across the country reached 13.9% in the second quarter of this year, up 0.25% on the same period last year. This is the highest level recorded by GeoDirectory since it began reporting on the rates in 2013. There were 29,241 vacant commercial units recorded across Ireland in the second quarter, a…

The euro remained under pressure amid growing recession fears fuelled by a possible energy supply crunch this morning, but the US dollar recouped some data-inspired losses. Disappointing US services and manufacturing surveys and a plunge in new home sales saw the dollar take a breather, after a run that pushed the dollar to its strongest…

Another dramatic spike in natural gas prices appears to have ended any hopes that Europe’s inflation battle is set to ease. Financial markets are now bracing for higher prices, a faster pace of interest rate hikes and a deeper economic downturn. Just a few weeks ago, signs that inflation in the US – which tends…

The main retail banks, An Post Money and Credit Unions have opened 365,000 personal current accounts so far this year, as customers of Ulster Bank and KBC Bank Ireland continue switching providers ahead of the exit of the two banks from the Irish market. The figures from Banking and Payments Federation Ireland (BPFI) show that…

Wholesale prices and the price of raw materials for manufacturing businesses rose at an annual rate of 6.2% in July, according to the latest figures from the Central Statistics Office. However, the price of food ingredients, construction materials and energy all rose significantly more. Overall, food product ingredients rose 10.8% in the year to July,…

Oil rose today as renewed concerns over tight supply dominated market sentiment after Saudi Arabia warned that the major oil producer could cut output to correct a recent oil price decline. Brent crude gained 42 cents, or 0.4%, to $96.90 a barrel in early trade, after a choppy session yesterday when they dropped by more…

The euro dropped to a fresh two-decade trough today as Europe was buffeted by concerns about energy supply and economic growth, while the dollar held firm against major peers, supported by safe-haven flows. The euro hit $0.9909, its lowest since late 2002, and was last down 0.29% at $0.9914. Russia will halt natural gas supplies…

The Government is seeking the return of almost €34m which was wrongly claimed in Pandemic Unemployment Payments (PUP) at the height of the Covid-19 outbreak. The Department of Social Protection told RTÉ’s This Week programme that, up to the end of July, just over 18,700 Pandemic Unemployment Payment over-payments were recorded to a value of…

Having once been the butt of the joke amongst gamers, microtransactions have grown into a multi-billion dollar industry. Today, some of the most popular games in the world are built almost entirely on the model – as well as countless smartphone and tablet apps. But they’ve proven controversial too, with critics saying they encourage bad…

Electricity supply companies may be charged more for their customers to use electricity between the hours of 5pm to 7pm. The Commission for Regulation of Utilities (CRU) has launched a two-week consultation asking industry and electricity providers how they intend to reduce energy usage. Speaking on RTÉ’s Morning Ireland, ESRI economist Dr Muireann Lynch said…