Archive for October 2024

Ireland is to miss a deadline to transpose a new European Union cybersecurity directive into Irish law. The Network and Information Security Directive, or NIS2, is supposed to be adopted by EU Member States by 17 October. It requires organisations in both the public and private sector to boost their cyber defences. NIS2 expands the…

Smartphones and watches are becoming the preferred payment method for many, new data shows. The latest figures from Banking and Payments Federation Ireland (BPFI) show that half of all contactless payments are now made using mobile wallets such as Apple Pay or Google Pay, rather than cards. In the 12 months to June, a total…

A drop in energy prices has resulted in a significant fall in inflation which declined from 1.7% in the 12 months to August to 0.7% in September – the lowest level since March 2021. This means that prices are still rising on an annual basis, but they are doing so at a much lower pace…

European Central Bank policymakers appeared content with the drop in inflation when they met last month but argued for a gradual policy easing given stubborn price pressures, the accounts of their September 12 policy meeting showed today. The ECB cut interest rates last month and said it would keep an open mind about October but…

More than three in five business leaders believe Budget 2025 will help them achieve their strategic priorities amid pressing business challenges, a new survey from the Irish Management Institute reveals. The new research is based on a survey of 180 senior business leaders across private, public and semi-state organisations in Ireland attending the IMI’s National…

The public is being encouraged to dig out unwanted electronics and cables which could contain valuable metals. Ahead of International E-Waste Day next Monday, WEEE Ireland, the country’s national compliance scheme for the recycling of e-waste, has warned that disposing of e-waste incorrectly has high financial and environmental costs. Increasing recovery and recycling rates, it…

There are growing risks to the EU budget due to a record amount of debt, Russia’s war against Ukraine and high inflation, according to the annual report of the EU’s financial watchdog. The report warns that the EU will need to find new funding models to pay for upcoming commitments, such as enlargement, and potentially…

Several European Central Bank policymakers argued their case today for another interest rate cut next week, even if some of their colleagues remained unconvinced as turmoil in the Middle East fuels volatility in energy costs. The ECB has already lowered rates twice this year and a cut to the 3.5% deposit rate on October 17…

The Governor of the Central Bank has the Government’s decision to increase spending above 5% over an extended period will aggravate price inflation and wage pressures. Gabriel Makhlouf said given current macroeconomic conditions, the continued expansionary fiscal stance adds unnecessary stimulus to an economy at full employment. The situation will undermine competitiveness and create risks…

The Government’s extensive legislation to overhaul the planning system is due to go before TDs tonight for a final vote. The proposed law will see An Bord Pleanála renamed to An Coimisiún Pleanála and a reformed process for taking judicial reviews introduced. Running to more than 900 pages, the legislation is a key part of…