News

The European Central Bank is on course to raise interest rates again today. We’ve been looking at why the bank has been raising rates and how far they’re likely to go today – and in the months ahead – and what that will mean for Irish borrowers. Why are interest rates rising? In a word,…

The number of residential units which have commenced construction fell last month, according to the latest figures from the Department of Housing. In September, the Department received commencement notices for 2,211 units, down 31% on the 3,203 commencements notified the same month last year. 605 units were started in Dublin local authority areas and 1,219…

The European Central Bank’s (ECB) governing council meets today in Frankfurt amid speculation it will announce another 0.75% increase in interest rates. The ECB has already increased rates twice this year, a half a percentage point in July and three quarters of a percentage point in September. Market analysts widely expect rates to be increased…

Applications open today for the fourth round of the Sport to Start-Up programme. The online course aims to help full time Irish sports people start their own business while still competing or training. It is an initiative of the Local Enterprise Offices, and is funded by the Department of Enterprise, Trade and Employment through Enterprise…

New figures from the Central Statistics Office show that Irish ports handled a total of 13.1 million tonnes of goods in the second quarter of 2022, an increase of 1% compared with the same time last year. A total of 3,085 vessels arrived in the seven main Irish ports – Bantry, Cork, Drogheda, Dublin, Rosslare,…

Tightening markets for liquefied natural gas (LNG) worldwide and major oil producers cutting supply have put the world in the middle of “the first truly global energy crisis”. This is according to the head of the International Energy Agency (IEA). Rising imports of LNG to Europe amid the Ukraine crisis and a potential rebound in…

The Department of Finance has said Minister Paschal Donohoe recognises that restrictions on pay create recruitment and retention problems for banks, but that there are currently no plans for a change in policy. Chairman of Bank of Ireland Patrick Kennedy met Mr Donohoe in June to express concerns over the cap on bankers’ pay. According…

Plans to introduce longer opening hours for pubs and nightclubs will be discussed by the Cabinet this morning. Minister for Justice Helen McEntee is seeking Government approval to reform the country’s 200-year-old licensing system. Under the plan, pub opening hours would be standardised across the week giving them the option of opening from 10.30am to…

The euro zone is likely entering a recession with business activity contracting at the fastest pace in nearly two years this month as the cost-of-living crisis keeps consumers cautious and saps demand. Factories have been particularly hard hit by energy price rises and due to supply chains still recovering from the coronavirus pandemic taking a…

Gas demand fell by 11% in September from August, new figures show today. as temperatures were above average in most parts of the country. But Gas Network Ireland said that gas demand was up 6% in September compared to the same time last year. It said that compared to September 2021, when Covid-related public health…