News

Figures today from the Central Statistics Office confirm that the economy is in recession. The economy, as measured by gross domestic product (GDP), fell by 1.9% in the three months to the end of September, according to the latest figures from the CSO. Modified Domestic Demand (MDD), which more closely tracks the domestic economy, was…

The Governing Council of the European Central Bank said it has selected “European culture” and “Rivers and birds” as the possible themes to choose from for future euro banknotes. This follows surveys conducted during the summer for the European public to express their preferences from seven shortlisted themes. In the survey commissioned by the ECB,…

The resurgence of construction here meant professional roles in that sector recorded the biggest increase in demand this year, new data shows. IrishJobs TalentBank, a database containing over 1.2m job candidates, shows demand for site engineers rose by 255%, while demand for site managers more than doubled to 157% between the third quarter of last…

New tenants are paying considerably more rent than renters with existing tenancies, new official data has shown for the first time. According to information released by the Residential Tenancies Board, the standardised average rent nationally for an existing tenancy between April and June of this year was €1,332. That compares to €1,574 for a new…

EU member countries and the European Parliament have said they have reached a preliminary agreement on curbing industrial emissions, including those from intensive poultry and pig farms and from ore mines. The deal, struck late last night, would “reduce harmful emissions from industry and improve public access to information,” the European Council, representing member states,…

Oil prices crept higher today as the possibility that OPEC+ will extend or deepen supply cuts was compounded by a storm-related drop in Kazakh oil output to send the Brent benchmark above $80 a barrel. Brent crude futures were up 73 cents, or nearly 1%, at $80.71 a barrel by 1506 GMT. US West Texas…

Workers average weekly earnings rose 4.6% between July and September compared to the same period last year, new data from the Central Statistics Office (CSO) shows. On average, employees received wages of €907.72 during the period, up from €876.63 during the third quarter of 2022. Average weekly earnings increased across 12 out of 13 sectors…

The European Central Bank may need to raise interest rates again if the inflation outlook worsens, and the bank should not rush to ease policy too quickly after the steepest set of rates hikes on record, Bundesbank chief Joachim Nagel said today. The ECB has signalled steady rates for several quarters ahead and investors are…

Oil prices rose slightly today due to a weak dollar, and expectations that the OPEC+ producer group would deepen and extend output cuts due to fears demand would remain subdued. Brent crude futures were up 11 cents, or 0.1%, at $80.09 a barrel at 0510 GMT. US West Texas Intermediate (WTI) crude futures were trading…

Employers will be required to offer paid leave to workers who are subjected to domestic violence from today. The Work-Life Balance Act, which was passed earlier this year, provides for up to five days paid domestic violence leave over a period of 12 months. Minister for Children and Equality Roderic O’Gorman said no one experiencing…