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Venture capital investment into Irish firms plummeted 57% between January and March, compared to the same period last year. Irish businesses raised $172.8m during the period through 24 deals, down from the 25 worth $401m in the first three months of last year. Rising interest rates, high inflation, worries about the banking system and the…

An analysis by Revenue of corporation tax returns last year has revealed that the proportion paid by just ten multinationals rose to 57%. Last year the amount of corporation tax collected by the State rose by 48% to €22.7 billion. This year, it is forecast to rise again to over €24 billion. Last year the…

Income tax receipts in Ireland rose by more over the two year period up to 2022 than they did over the seven year period up to 2019, new data from Revenue shows. Total income tax receipts between 2020 and 2022 came in at €8.1 billion, compared to €7.8 billion between 2012 and 2019. While receipts…

The Minister for Finance has taken part in AIB Group’s 2023 share buyback programme on a directed basis, which will further reduce the State’s shareholding in the bank. The buyback will see AIB purchase €215m of its shares from the State by way of an off-market purchase. This represents 54,674,818 shares or 2.05% of the…

Motor insurance premiums fell by 5% in the first six months of last year, according to new data compiled by the Central Bank of Ireland. The first mid-year motor insurance report of the National Claims Information Database also shows the cost of claims settled directly or through the Personal Injuries Assessment Board (PIAB) has fallen…

The cost of farmland and renting farmland is set to continue to rise in 2023, according to a new report from the Society of Chartered Surveyors and Teagasc. The report, based on returns from 134 SCSI members completed in January and February, forecasts average agricultural land prices will rise 8% in 2023, while average prices…

Development levies for housing could be abolished temporarily under plans to be considered by Cabinet tomorrow. The measure, yet to be approved, is designed to help increase “near-term delivery” and will apply for a set time period. Savings to be gained from the abolishment of the development levy will vary depending on where the construction…

Ratings agency Moody’s has upgraded Ireland’s sovereign credit rating. The move to the Aa3 ratings brings Ireland back to Moody’s AA category for the first time since 2010. It is the second time that Moodys has upgraded Ireland in under one year. In May of last year, it bumped the country’s credit rating up to…

The number of corporate insolvencies recorded in the first three months of the year rose 22% compared to the same period last year. But overall the number of insolvencies is down slightly on the last three months of 2022, indicating that the forecasted steep increase in firms going out of business is not currently happening.…

The US dollar and euro steadied today after strong US banking results firmed up expectations that the Federal Reserve and the European Central Bank will keep raising interest rates. Morgan Stanley reported first quarter profit yesterday that beat expectations. This added to rosy results from major US lenders and calming fears of a widening crisis…