Business News

Capital projects affected by rising costs and labour shortages

17th January 2019

Minister for Finance Paschal Donohoe has signalled possible changes to the start dates of major capital projects because of rising costs and labour shortages. At the Budget Oversight Committee, he said a much faster than expected rise in the number of large scale capital projects by the private sector was causing, leading to competition for […]

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Pound steady after May’s Brexit deal voted down

17th January 2019

The pound steadied early this morning but remained on the backfoot following a volatile overnight session after British politicians defeated Prime Minister Theresa May’s Brexit divorce deal by a crushing margin. The British parliament yesterday voted 432-202 against May’s deal, the worst parliamentary defeat for a government in recent British history. Investors’ short-term focus is […]

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Taiwan objects to Britain’s trade plans post-Brexit

17th January 2019

Taiwan objects to Britain’s proposed rules for managing its trade in services after it leaves the European Union and has requested negotiations at the World Trade Organization, according to a document seen by Reuters today. The EU has spoken for Britain on trade matters ever since the WTO was founded in 1995. As part of […]

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Higher costs for air fares and restaurant prices sees inflation rate rise

16th January 2019

Higher costs for air fares and rising restaurant prices saw the inflation rate move up slightly. The annual inflation rate crept up to 0.7pc in December compared with the same month in the previous year. The annual rise was 0.6pc in November. The slight rise in the inflation rate was despite falls in petrol and […]

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Petrol prices plunge but the taxman takes 64pc

16th January 2019

Car fuel prices have dropped to their lowest level in almost 18 months, according to an AA Ireland survey. The drop is due to a global fall in the cost of crude oil as a result of greater supply. AA said the fall was no thanks to the State which takes 64pc of the cost […]

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Charlie Weston: ‘Escape the banking ‘confusopoly’ and get yourself a better mortgage rate this year’

16th January 2019

Central Bank changes that came into effect on mortgages at the start of the year represent a missed opportunity to tackle some of the worst excesses of our dysfunctional home-loans market. Now lenders will have to tell customers if they can make savings on their mortgages. Lenders will also have to let variable-rate mortgage customers […]

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Lower property tax for homes of rich: minister

15th January 2019

A Government Minister wants lower property tax rates for those in affluent areas. The Local Property Tax (LPT) was based on valuations of house prices after the economic slump. Those valuations expire later this year and the property market recovery could leave families facing €500 tax hikes. Culture Minister Josepha Madigan, a rising star within […]

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Chinese firms’ investment in Ireland surges by 200pc to €87m

15th January 2019

Investment by Chinese companies here has surged more than 200pc over the past year, amid trade tensions between Beijing and Washington, while Irish companies are seeking a greater foothold in the world’s fastest-growing major economy. According to analysis from consultants Baker McKenzie and Rhodium Group, completed Chinese investment here hit $100m (€87m) in 2018. The […]

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Petrol prices at the pump fall to 16 month low – AA

15th January 2019

The AA’s monthly fuel prices survey found that the average cost of a litre of petrol hit a 16 month low in January. The AA said the average cost of a litre of petrol is 132.9 cent – the lowest level since August 2017 – and down from 136.9 cent in December 2018. Diesel costs […]

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AIB: give landlords a break and extend help-to-buy scheme

14th January 2019

AIB has called on the Government to level the playing field between private landlords and their institutional counterparts. The State-owned bank also urged Finance Minister Paschal Donohoe to extend the help-to-buy scheme beyond 2019 as soon as possible to avoid an “inevitable scramble” by prospective buyers ahead of October’s budget. In its second annual report […]

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