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AIB and EBS have increased their interest rates on a number of deposit accounts to 2%. The 2% rate will apply to its regular online saver, its AIB Junior and Student saver and the EBS Family saver accounts. But it will only apply to the first €1,000 per month for 12 months. After this period,…

Residential property prices nationally rose in April by 3.6% on an annual basis, according to the CSO. This compares to an annual rate of 4% in March. Prices nationally were static over the course of April. Prices have been falling slowly in Dublin since October. They are down 2% over the past three months but…

Oil rebounded today after the previous day’s plunge, as data showed a jump in refinery runs at the world’s top crude importer China, though a weak economic backdrop capped gains. Brent crude futures rose 39 cents, or 0.6%, to $73.59 a barrel by 0630 GMT. US West Texas Intermediate (WTI) crude climbed 39 cents, or…

The US Federal Reserve is expected to leave interest rates unchanged today for the first time since the US central bank kicked off a historically aggressive round of monetary policy tightening in March last year. Many analysts and investors are calling it ‘a skip’ as they expect the Fed will skip a hike this time.…

Returns to farmers for their produce have fallen overall from March to April this year, according to the latest figures from the CSO. Output prices for produce fell 2.2%, heralding a general decline in returns to most farmers. Dairy farmers in particular experienced a price fall 8.6% in the month, as processors have pulled back…

Tánaiste Micheál Martin has said Ireland is a “technology-centred economy” with a need for further data centres. He was responding to reports of concern over a surge in energy use by data centres. Yesterday, the CSO said data centres increased their power consumption by 31% and now account for 18% of electricity used. This industry…

Wind generated just 23% of Ireland’s electricity in May, with calm conditions leading to a 38% drop in generation when compared to April. New figures from Gas Networks Ireland show that gas generated 57% of Ireland’s electricity last month, up 21% month-on-month. Gas has been the highest contributor to Ireland’s electricity generating system for the…

Speaking at a Banking Payments Federation Ireland conference, Micheal McGrath said genuine people should not be allowed to fall into arrears due to higher interest rates. Speaking at a Banking Payments Federation Ireland conference, Micheal McGrath said genuine people should not be allowed to fall into arrears due to higher interest rates. By Adam Maguire…

The Government is being urged to use October’s Budget to tackle energy poverty and break Ireland’s dependence on fossil fuels for home heating. A cross-section of social, environmental and voluntary organisations issued the call ahead of the National Economic Dialogue, which takes place in Dublin Castle today. The conference will see Government leaders, charities, trade…

Construction activity contracted again in May, but only slightly, as demand improved. The latest BNP Paribas Real Estate (BNPRE) Ireland Construction index was still below the crucial 50 mark at 49.4, the eight consecutive month that activity fell. But there were further signs of recovery, with new orders, employment and buying activity improving on previous…