Archive for January 2023

After six years of interest rates sitting at rock bottom, it came as a bit of a jolt when the European Central Bank started raising rates last summer. And the regulator certainly hit the ground running with a full half a percentage point increase to its key rates in July on what was its first…

From cruising around the Mediterranean, to backpacking across South America, international travel is set to return full force this year. ‘Revenge travel’ is a phrase being used to describe the desire to travel that emerged last year, as people took to the skies, seas and roads to make up for the trips they missed due…

Businesses are being urged to claim for State help with energy bills as new figures show there has been a low take-up so far of a Government scheme. The Temporary Business Energy Support Scheme (TBESS) provides qualifying businesses with up to 40% of the increase in electricity or gas bills up to €10,000 per month…

There are 28,786 proposed units in a series of large housing and apartment developments currently awaiting a planning permission decision from An Bord Pleanála, according to a new analysis. The Annual Construction Sector Report from consultants Mitchell McDermott found 59% of the applications before An Bord Pleanála for Strategic Housing Developments (SHD) last year did…

The Central Bank faced strong criticism from some TDs at the Oireachtas Finance Committee yesterday over the higher mortgage rates being paid by customers whose loans were sold to investment funds. Some people are being charged rates as high as 7%. Financial adviser Padraic Kissane explained that there was a level of non-performing loans in…

The number of new dwellings completed in 2022 reached 29,851, according to new figures from the Central Statistics Office today. The CSO said this represents an increase of 45.2% on the numbers completed in 2021 and an increase of 41.3% on the numbers completed in 2019 – pre-pandemic. A total of 9,166 apartments were completed…

Buoyed by the number of Oscar nominations for Irish films and actors ahead of this year’s awards, the industry is hoping the international spotlight will drive further investment in the sector. The nomination of An Cailín Ciúin in the International Film category is seen as further vindication of the Cine4 initiative, to develop and produce…

A total of 75 so-called “ghost estates” still exist across Ireland more than 15 years after the Celtic Tiger economic and property crash. New figures obtained by RTÉ show that despite the issue falling off the public and political agenda in recent years, it continues to be a daily problem for hundreds of people living…

Irish consumer confidence hit a seven month high in January, according to the latest Credit Union Consumer Sentiment index. The data suggests that consumers had a less negative view of the economic and financial circumstances of households heading into 2023. The index reached 55.2, up from 48.7 in December, and its strongest level since last…

Europe’s main stock markets were little changed at the open today, failing to mirror strong overnight gains in Tokyo and on Wall Street. Stock markets have notched up some decent gains in recent weeks as the economic outlook appears to have improved dramatically on the back of China’s economic reopening after strict Covid-19 lockdowns and…