News

The country’s unemployment rate fell to 4.7% in May from 4.8% in April to return to the level it stood at before the Covid-19 pandemic hit, new figures from the Central Statistics Office showed today. The last time the unemployment rate was lower than 4.7% was in November 2006, towards the end of the “Celtic…

The country’s largest exporter of Irish dairy products, Ornua, has reported operating profit of €153.7m for 2021, up 1.3%. The dairy co-operative marked 60 years in business and reported an excellent trading performance with group turnover up 6.9% to €2.5 billion. It was another record year for Kerrygold, with volume growth up 12% on 2020.…

Bank of Ireland said today it has completed its €427m deal for J&E Davy Stockbrokers, which was first announced last July. Bank of Ireland said the deal significantly enhances its commercial and strategic objectives. Davy had assets under management of about €20 billion at the end of 2021 and Bank of Ireland said combining its…

Factory production growth dropped to 15-month low in May, as higher prices reportedly dampened client demand. The latest AIB IHS Markit manufacturing Purchasing Managers’ Index (PMI) slipped to 56.4 in May, down from 59.1 in April. Any figure greater than 50 signals overall improvement of the sector, with the May figure indicating an improvement in…

Dublin is the fourth most attractive European city to foreign investors, according to a new report from EY. The city was chosen by 17% of respondents in the EY European Attractiveness Survey as an attractive city for FDI over the next three years, three times higher than last year. Ireland remains one of Europe’s top…

The Employment Wage Subsidy Scheme (EWSS) ends today for all businesses. In February, most employers moved to a reduced weekly rate of support before the payments were phased out in March and April. Businesses directly impacted by Covid-19 restrictions in December 2021, including many in the hospitality sector, were eligible to continue receiving support under…

Just over 4,300 mortgages were approved last month, down 5.9% on the previous month and 1.3% on the same time last year. New figures from Banking and Payments Federation Ireland reveal that 53% of the approvals or 2,296 went to First Time Buyers (FTBs), while 923 or 21% went to mover purchasers. The value of…

A new monthly economic survey shows that while households remain cautious, the arrival of the holiday season looks to have raised their spirits a little. But the mood among firms was little changed, with three in five still saying that they are finding it difficult to predict the future development of their business situation at…

Almost one third of workers would change jobs – even if it means a pay cut – if their remote working preferences are not facilitated, according to the third annual National Remote Working Survey. 37% of respondents said they would change jobs for remote working, even if it meant fewer promotion opportunities. 30% also indicated…

A record amount in monetary fines imposed on financial firms and individuals by the Central Bank in 2021 contributed to profits at the bank last year increasing by 59% to €1.32 billion. That is according to the 2021 annual report for the Central Bank which reveals that a dividend of €1.067 billion will be paid…