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Euro zone industry shrinks faster than feared in December
Euro zone industrial production shrank by more than expected in December, indicating that the sector’s two-year recession is far from over even if some sentiment and order figures have pointed to bottoming out. Output in the 20 nations sharing the euro was down by 1.1% in December from the previous month, data from Eurostat showed…
Read MoreThe price of romance on the rise, CSO figures show
New analysis from the Central Statistics Office has found that the cost of a typical St Valentine’s Day gift or night out has increased over the last five years. The CSO said its research was based on a comparison of prices collected in February 2020 and December 2024. It found that while a bottle of…
Read MoreReduced VAT rate should concentrate on food and catering sectors – Donohoe
Finance Minister Paschal Donohoe has said that the promised VAT reduction for the hospitality sector should be “concentrated on the food and catering” sectors. Sinn Féin Finance spokesperson Pearse Doherty asked whether the rate would drop to 11% or 9% as no number was specified in the Programme for Government. The Minister told the Dáil…
Read MoreIntroduction of tariffs not good for Ireland, IDA chief told
Briefings for the CEO of the IDA said he needed to be prepared for questions on President Donald Trump’s plans for tariffs which were described as “counterproductive” and “in no ones’ interests.” In Q&As and other documents from late last year, Michael Lohan was advised to emphasise that Ireland needed to focus on what “it…
Read MoreRents should be freely adjusted between tenancies, OECD recommends
Rents should be freely adjusted between tenancies in a significant change to existing restrictions, a major new report on Ireland by the Organisation for Economic Cooperation and Development (OECD) has recommended. The finding comes as the Government reviews existing limits on how much tenants pay as there are concerns they are discouraging institutional investors from…
Read MoreIrish mortgage rates at lowest level since April 2023 – Central Bank
New figures from the Central Bank show that the average interest rate on new Irish mortgages in December fell to 3.8% – the lowest rate since April 2023 – and down from 3.97% in November. The Central Bank said the equivalent euro area average decreased by eight basis points to 3.35% in December. It noted…
Read MoreTánaiste to attend EU trade meeting on US tariffs
Tánaiste and Minister for Foreign Affairs Simon Harris will join an emergency meeting of EU trade ministers via video conference later to respond to US President Donald Trump’s imposition of tariffs on European steel and aluminium imports. European Commission President Ursula von der Leyen has condemned the tariffs and promised “firm and proportionate” countermeasures, although…
Read MoreFlexible work remains essential for attracting talent – study
Recruitment firm Cpl has released its salary guide for 2025 detailing the expected pay levels for a wide range of roles across 20 different sectors. The guide is also emphasising that financial incentives alone no longer suffice and that flexible working remains an essential offering when it comes to attracting top talent. According to Cpl,…
Read MoreIrish CEOs optimistic about economy’s growth this year
Three quarters of Irish CEOs expect economic growth to pick up in the coming year, according to the latest CEO Survey from PwC. That compares to 50% of Irish CEOs last year, and is a significant improvement on the 2020 low of 16%. Almost two thirds of business leaders here also expect the global economy…
Read MorePotential replacement of GMT for Ireland to be discussed at forum
The potential replacement of Greenwich Mean Time (GMT) with a domestic Irish equivalent will be among the topics discussed at a forum in Dublin. The National Standards Authority of Ireland (NSAI), in conjunction with Data Edge, Timing Solutions and HEAnet, is hosting Ireland’s inaugural Time & Sync Forum. Following on from the successful launch of…
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