Archive for May 2023

Motorists can expect to see a jump in the cost of petrol and diesel from midnight tonight as cuts to Government excise charges begin to reverse. Petrol prices will rise by six cent per litre, while diesel will go up by five cent. Agricultural diesel will also go up a cent. In March last year,…

Home prices in the euro zone may be headed for a “disorderly” decline as high mortgage rates make purchases unaffordable for households and unattractive for investors, the European Central Bank said today. It was one of several risks flagged in the ECB’s Financial Stability Review (FSR) along with higher borrowing costs and slower growth hurting…

The euro zone’s top banks may take a hit if their financial clients, such as funds, insurers and clearing houses, withdrew their deposits or otherwise ran into trouble, the European Central Bank has warned. The ECB study looked into the risk of spillovers from so-called shadow banks – such as funds and other financial companies…

Bank lending to euro zone companies and households slowed again in April, continuing the steady decline since last autumn as the economy stagnated and rapid rate hikes dented demand for credit. This is according to the latest European Central Bank data today. Lending to businesses in the 20 nation currency bloc expanded by 4.6% year…

Engineering and construction related jobs are some of the hardest positions for employers to fill, according to a new report from hiring platform Indeed. The analysis looked at Irish job postings from 1 January to the end of April this year to determine which positions were most likely to remain open for over 60 days.…

Demand for gas fell by 10% in April compared to the same month last year, according to the latest figures from Gas Networks Ireland. Gas demand was also down 14% in April compared to March as several sectors required less energy during the month. Gas accounted for 47% of electricity generation in Ireland in the…

The volume of annual retail sales rose sharply again last month due to another surge in car sales, jumping 7.5% on an annual basis, new figures from the Central Statistics Office show today. The volume of retail sales rose by 2.8% in the month The CSO said that when the increase in motor trades was…

Consumer confidence here hit a 14-month high this month, as concerns eased about the economic outlook. Hopes for additional Government measures to offer some respite from price pressures may also have boosted sentiment, the Credit Union Consumer Sentiment Index suggests. Confidence continues to be fragile though, with a majority of consumers still feeling that the…

The Irish Congress of Trade Unions (ICTU) has called for the national minimum wage to be increased in January 2024 by €2, making the hourly rate €13.30. In a submission to the Low Pay Commission, ICTU said such an increase would go a considerable distance to providing a decent standard of living for low paid…

Investment in clean energy will extend its lead over spending on fossil fuels in 2023, the International Energy Agency said today, with solar projects expected to outpace outlays on oil production for the first time. Annual investment in renewable energy is up by nearly a quarter since 2021 compared to a 15% rise for fossil…