News

Oil prices rebound as growing geopolitical tensions fuel supply fears

25th January 2022

Oil prices bounced back today, recovering some of the previous day’s losses, as growing tension in Eastern Europe and the Middle East fuelled concerns over possible supply disruptions. Brent crude futures rose 61 cents, or 0.7%, to $86.88 a barrel this morning after touching a session high of $87.27 a barrel earlier, reversing a 1.8%…

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Cabinet to sign-off on €100 electricity credit scheme

25th January 2022

The Cabinet is set to sign-off on a €210 million legislative plan at their weekly meeting this morning, which aims to assist households struggling with the rising cost of electricity bills. Under the scheme, all domestic electricity customers will receive a once-off €100 credit, which will be operated by ESB Networks. The scheme will not…

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Central Bank chief warns of inflation risks

25th January 2022

The Governor of the Central Bank has said “the prospects for Ireland’s economy appear bright” but warned that the risks to inflation in Ireland remain “on the upside”. Gabriel Makhlouf made his remarks at on online webinar hosted by the Institute of Directors. On inflation, the Central Bank Governor said it is expected to remain…

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Swift rebound in spending forecast in Irish economy

24th January 2022

A swift rebound in consumer and business spending is in prospect for 2022 as almost all pandemic restrictions come to an end, according to Goodbody’s latest quarterly outlook. The Back in Business report predicts growth in domestic demand of about 5.8% this year. The forecast tallies with that of Minister for Finance Paschal Donohoe who…

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Euro zone recovery stuttered in January as Omicron hit services – PMI

24th January 2022

The euro zone economic recovery weakened further this month as renewed restrictions imposed to contain the Omicron coronavirus variant put another dent in bloc’s dominant services activity and as prices continued to soar. With the variant sweeping across Europe governments have been encouraging citizens to stay home and avoid socialising or meeting in groups. IHS…

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Phased return to the workplace begins

24th January 2022

Employers can start bringing staff back into the workplace from today onwards, following the announcement of the easing of Covid-19 restrictions on Friday. However, unions have urged businesses to exercise caution and consult with staff as the process begins. Announcing the changes on Friday, the Taoiseach said the return to physical attendance in workplaces should…

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Return to workplace can be done a bit faster – Ibec

21st January 2022

Danny McCoy, the chief executive of Ibec, has said the lifting of most Covid restrictions is a “positive development” and that a gradual return to the workplace can be done “that little bit faster”. Speaking on Morning Ireland, Danny McCoy said employers and employees would have to decide how best to proceed on returning to…

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Cabinet to consider NPHET recommendations on restrictions

21st January 2022

The three Coalition leaders will meet this morning at Government Buildings to consider recommendations from the National Public Health Emergency Team on the easing of Covid-19 restrictions, in advance of a full Cabinet meeting at 3pm. NPHET has given the green light to ending most of the restrictions and, because it did not specify any…

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Dublin Port volumes dip just 5.2% despite Brexit hit

21st January 2022

The volume of goods passing through Dublin Port last year only dropped marginally, despite the impact of Brexit on Irish Sea trade. Overall, 34.9 million tonnes went through the facility, down 5.2% on the previous year. Roll-on-Roll-Off, or Ro-Ro units dropped by 9.3%, equivalent to 99,000 trailers, according to the port. But Load-On-Load-Off containers rose…

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Annual rate of inflation hits 20-year high, reaching 5.5% in December

20th January 2022

New figures from the Central Statistics Office show rising inflation has resulted in increases across a range of products, including bread rising by 5.3% while crisps increased by 7%. Overall food and non-alcoholic drinks are up 1.6% on an annual basis, with increases too in energy and fuel costs. The CSO says the annual rate…

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