News

Appetite for saving money declines as economic reopening gather pace

16th July 2021

There are indications in Bank of Ireland’s latest Savings and Investment Index that appetite for saving money is declining as the economy continues to gradually reopen. In May of last year, 55% of people surveyed by the bank said they saw it as a good time to save money, but this had dropped to 47%…

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Donohoe ‘committed’ to retaining low corporate tax rate

15th July 2021

Minister for Finance Paschal Donohoe has said he is “so committed” to retaining Ireland’s low corporate tax rate that he is not willing to sign up to a new international tax agreement in its current form. 130 countries and jurisdictions have signed up to a plan that will bring sweeping new reforms to global corporation…

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Two thirds of parents struggle with back to school costs

15th July 2021

Almost two thirds of parents surveyed by the Irish League of Credit Unions for its annual back to school survey say that covering the cost of sending a child to school amounts to a financial burden. Around a quarter of respondents say they get into debt in order to cover the costs every year. The…

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Banks spend €3bn on delivering digital services – BPFI

15th July 2021

Retail banks here have collectively spent over €3 billion in the past five years on delivering new digital services for customers, according to the Banking & Payments Federation of Ireland. The services provided include end-to-end online mortgages, new and secure payment apps, personal loan applications, instant account opening, data analytics, money management tools and SME…

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Insurance report shows wide disparity in legal costs

14th July 2021

The Central Bank has published data on employers’ liability, public liability and commercial property insurance for the first time. The information will form part of the National Claims Information Database. The report highlights a stark difference in legal costs between claims that go through the Personal Injuries Assessment Board and those that are pursued through…

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26% of small landlords plan to leave rental market

14th July 2021

Half of tenants surveyed by the Residential Tenancies Board say they are spending more than 30% of their net income on rent, with 20% of tenants in Dublin spending more than 50% of their total income. The RTB survey was conducted between September 2019 and March 2020. Carried out by Amarach Research, it surveyed 1,038…

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Central Bank urges action on long term mortgage arrears

14th July 2021

The Central Bank has said more action is needed from mortgage lenders to deal with long term mortgage arrears. Deputy Governor Ed Sibley said there are wider issues associated with the legacy of mortgage arrears including the cost of credit for all borrowers and the attractiveness of the Irish mortgage market for new entrants. Mr…

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Taoiseach says public must ‘buy into’ hospitality rules

13th July 2021

The Taoiseach has said compliance with new rules around indoor dining is something that public will have to “buy into”. His comments come ahead of a meeting between representatives of the hospitality sector and senior Government officials this afternoon regarding the planned resumption of indoor hospitality, following a Cabinet decision last night. Speaking this morning,…

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IDA Ireland says investments close to 2019 levels

13th July 2021

Foreign direct investments into the country during the first half to the year returned to levels close to those seen at the end of 2019, IDA Ireland said today. The agency secured 142 investments between January and June, compared to 132 in the same period last year. 62 of those were new name investments, with…

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Central Bank says risks of market abuse have risen

13th July 2021

The Central Bank has said ‘significant improvements’ are needed in how regulated financial firms comply with Market Abuse Regulations. The Market Abuse Regulations are rules governing how information, which can give a financial advantage to buyers and sellers, is handled by companies involved in buying and selling shares and bonds. The Central Bank says the…

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