News

Minster for Finance Paschal Donohoe has said economic co-operation between Ireland, the European Union and the United States is at a new high point. Speaking in Washington DC after a joint meeting of the Eurogroup finance ministers and US Treasury Secretary Janet Yellen, Mr Donohoe, who chairs the Eurogroup, said: “What we have done over […]

Sterling inched cautiously higher following British Prime Minister Liz Truss’s partial reversal of her government’s economic plan. The pound gained 0.42% to stand at $1.1225, after Truss said on Friday that Britain’s corporation tax will rise to 25% from April next year instead of keeping it at 19% as part of her government’s initial “mini-budget”. […]

Ireland is to be the location for a new International Sustainable Finance Centre. The centre will act as an international hub from which the finance community based in Ireland will help develop a response to sustainability. It will conduct research, help develop talent and conduct leadership activities. Its aim will be to help finance firms […]

New Central Statistics Office figures show that the annual rate of inflation rose by 8.2% in September, down from an annual increase of 8.7% in August. The latest figures from the Central Statistics Office show food prices increasing but a slight decrease in fuel prices last month. The annual rate of inflation overall moderated last […]

Residential property prices increased by 12.2% in the year to the end of August according to the Central Statistics Office, down from 13.3% in the 12 months to July. Prices in Dublin rose by 9.7% over the year, while prices outside the capital were up by 14.2%. The median price of a home purchased over […]

Oil prices reversed earlier losses and inched up in Asian trade today, supported by a weaker US dollar and falling diesel inventories, while Saudi Arabia and Washington continued to clash over plans by OPEC+ to slash production. Brent crude futures rose 31 cents, or 0.3%, to $94.88 per barrel early this morning. US West Texas […]

Britain’s economy looks set to go into recession as data showed it unexpectedly shrank in August, underscoring the challenge for Prime Minister Liz Truss to make good on her promises to speed up growth. Weakness in manufacturing and maintenance work in North Sea oil and gas fields contributed to a 0.3% fall in gross domestic […]

New figures from the Central Bank show the average interest rate on new Irish mortgages rose to 2.64% in August 2.63% in July. The equivalent euro area average rate rose by 13 basis points to 2.21% in August – its highest level since at least August 2017 and almost double the rate this time last […]

It will be years before Ireland has enough secure liquid natural gas (LNG) storage, the Minister for the Environment has said. Eamon Ryan said Ireland needs storage as an extra security layer and a review is under way to come up with real solutions that will give the country greater security in a way that […]

Oil prices fell about 2% today, extending the previous session’s almost 2% decline, as recession fears and a flare-up in Covid-19 cases in China raised concerns over global demand. World Bank President David Malpass and International Monetary Fund Managing Director Kristalina Georgieva warned on Monday of a growing risk of global recession and said inflation […]