Archive for October 2022

The Government is expected to confirm that its new support scheme aimed at assisting businesses with the rising cost of energy will be extended to include professional firms, when it publishes the Finance Bill today. When the €1.25 billion Temporary Business Energy Support Scheme (TBESS) was announced in last month’s budget, it was originally planned…

The Central Bank looks set to relax its mortgage lending rules when it publishes the outcome of a review of them later this morning. Currently, most house buyers can only borrow up to 3.5 times their income from lenders. However, following a year-long review of the situation, it is expected that the regulator will announce…

The Government has agreed that the concrete levy announced in the Budget will be cut to 5% rather than the 10% announced in the Budget last month. It will also now be introduced in September 2023 rather than next April. The charge will not include pre-cast concrete products in an effort to ensure that jobs…

Oil prices were stable today as the market balanced cuts to OPEC+ production quotas against fears of economic slowdown and lower Chinese fuel demand. Brent crude futures eased by seven cents, or 0.08%, to $91.55 a barrel, while US West Texas Intermediate (WTI) crude futures were down 12 cents, or 0.14%, at $85.34. WTI had…

European new car registrations jumped in September, the second month in a row of growth after 13 months of consecutive decline, data from the region’s carmaker association showed. The number of new vehicles registered in the European Union, Britain and the European Free Trade Association (EFTA) grew by 7.9% on the year to 1,049,926 units,…

The dollar lost ground against sterling and other major peers today as investor sentiment picked up following the UK’s dramatic U-turn over the tax-slashing mini budget that had roiled global markets. The British pound extended gains following a media report that the Bank of England is set to delay quantitative tightening until bond markets calm.…

The unadjusted exports of goods in August increased by €6.3 billion to €19.5 billion compared with August last year, today’s CSO figures show The unadjusted exports of goods in August increased by €6.3 billion to €19.5 billion compared with August last year, today’s CSO figures show The latest Central Statistic Office trade figures show a…

Minster for Finance Paschal Donohoe has said economic co-operation between Ireland, the European Union and the United States is at a new high point. Speaking in Washington DC after a joint meeting of the Eurogroup finance ministers and US Treasury Secretary Janet Yellen, Mr Donohoe, who chairs the Eurogroup, said: “What we have done over…

Sterling inched cautiously higher following British Prime Minister Liz Truss’s partial reversal of her government’s economic plan. The pound gained 0.42% to stand at $1.1225, after Truss said on Friday that Britain’s corporation tax will rise to 25% from April next year instead of keeping it at 19% as part of her government’s initial “mini-budget”.…

Ireland is to be the location for a new International Sustainable Finance Centre. The centre will act as an international hub from which the finance community based in Ireland will help develop a response to sustainability. It will conduct research, help develop talent and conduct leadership activities. Its aim will be to help finance firms…