Archive for May 2024

Pay increases, the rise of artificial intelligence and staff surveillance are among the topics to be discussed at the triennial conference of the Financial Services Union (FSU) which opens in Belfast. Delegates will vote on 26 motions covering issues such as the four-day week, branch closures and collective bargaining. In his opening address to the…

Failure to address the policy constraints around data centres in Ireland will put the country at risk of missing economic benefits of next generation technologies, an industry body has warned. Digital Infrastructure Ireland (DII), which is made up of ten data centre developers and operators here, has called for the Government to set up a…

New figures from the Central Statistics Office show that Ireland’s unadjusted exports of goods increased by €2.3 billion to €53.2 billion in the first quarter of this year compared with the same time last year. The CSO said that seasonally adjusted exports of goods amounted to €17.6 billion in March, virtually unchanged on the previous…

New figures from the Central Statistics Office show that residential property prices grew by 7.3% on an annual basis in March. This marked the fastest rate of increase since December 2022 and the tenth monthly increase in a row. The CSO said that home prices rose in Dublin by 7.2% and outside of Dublin by…

Over €12 billion was spent using mobile wallets such as Apple Pay and Google pay in the 12 months to March, new data shows. The figures from Banking and Payments Federation Ireland reveal that mobile wallet payments accounted for more than half of the value of all contactless payments made during the period. €24 billion…

Public sector workers will today call for an increase in starting salaries amid claims that pay for new entrants is far too low. The issue will be debated at the biennial conference of Fórsa, the country’s largest public sector trade union. More than 700 delegates have gathered in Killarney for the event which began last…

Having eased considerably last year, fuel forecourt prices are on the rise once again. In the space of a month average fuel prices have risen by 10-13.5%, according to AA Ireland, in no small part due to the latest phase of the Government’s excise duty restoration. PTSB has announced cuts to its standard three-year fixed-rate…

The European Commission has maintained its expectations for the performance of the Irish economy this year with a predicted GDP growth rate of 1.2%. In its Spring 2024 Economic Forecast, published today, the Commission has also forecast GDP growth of 3.6% for 2025, up from 3.2% predicted in the Winter Economic forecast which was published…

Oil prices extended declines today amid signs of weak fuel demand and as comments from US Federal Reserve officials dampened hopes of interest rate cuts, which could slow growth and crimp energy use in the world’s biggest economy. Brent crude futures slid seven cents (0.1%) to stand at $82.72 a barrel this morning, while US…

Gas generated 42% of Ireland’s electricity in April, new figures from Gas Network Ireland show today. After a notably windy period in February and March, gas was the most dominant contributor to electricity generation last month as it surpassed wind energy’s contribution of 36%. Gas Network Ireland said that gas was the primary source of…