Archive for March 2023

Minister for Finance Michael McGrath will today seek Cabinet approval for Ireland to apply to become the base for the new EU Anti-Money Laundering Authority (AMLA). The AMLA, set to be established in 2024, will be a major EU institution tasked with overseeing compliance with anti-money laundering and countering financing of terrorism rules and standards.…

The total value of Irish pensions fell by almost 16% last year, according to new figures. Rising interest rates and the geo-political uncertainty caused by the war in Ukraine wiped significant value off pension funds around the globe. At the end of 2022 Irish pension assets were worth around €157 billion, having increased by an…

Mild weather February saw the country’s overall gas demand fall by 11% compared to January, and decrease by 25% in the residential sector month on month. Demand for gas increased by 7% in February compared to the same month last year, new figures from Gas Network Ireland shows today. Gas was the main source of…

The interest rates on a range of medium to long-term State savings products are to increase, on foot of several hikes of European Central Bank interest rates since last July. New issues of State Savings Fixed Rate, Savings Certificates, Instalment Savings and 10 Year National Solidarity Bond products are to take place. Shorter term products…

The Government supported almost 27,200 home energy upgrades or retrofits last year through the Sustainable Energy Authority of Ireland. The SEAI says this is an 80% increase on 2021. The National Retrofit Plan has set a target of 500,000 homes upgraded to a B2 energy rating by 2030. Cutting emissions from heating homes is key…

EU leaders meeting for the second day of a summit in Brussels will be briefed by the European Central Bank about the risks of contagion in the banking sector. It follows the collapse of Silicon Valley Bank in the US and the subsequent takeover of Credit Suisse by UBS. ECB President Christine Lagarde will update…

A decline in switching activity following a busy period that saw many borrowers lock in fixed rates, contributed to a fall in new mortgage lending last month according to new data. Mortgage approvals fell by 13.3% in February when compared to the same month last year, the information from the Banking and Payments Federation Ireland…

The latest monthly Credit Union Consumer Sentiment Survey has found that 35% of consumers said they are struggling to cope with the impact of inflation on their household finances. Over 55% of respondents said inflation has caused a worsening in their financial circumstances, but they are managing to cope and just 7% said they were…

The Department of Transport has today confirmed that the maximum private vehicle electric car grant will be set at €3,500 from July 1, down from the current maximum of €5,000. Ireland has a buoyant demand for electric vehicles and there was an 81% increase in registration of EVs last year compared to the previous year,…

The director of Technology Ireland has said recent lay-offs by technology companies shows that the sector is somewhat in a state of flux. Speaking on RTÉ’s Morning Ireland, Una Fitzpatrick said while negotiations are still going on with some companies, the expectation is that around 2,000 to 3,000 people who work in technology in Ireland…