The growth in mortgage approvals tailed off slightly last month despite an increase of more than 20% on an annual basis.

A total of 2,461 mortgages were approved in May, according to new figures released by the Banking and Payments Federation Ireland.

On a monthly basis, mortgage approvals climbed 4.6%.

Insolvencies in some parts of the country have nosedived by more than 50% in the past month despite a quarterly nationwide increase, two reports indicate.

Data compiled by Vision-net.ie shows that Cork saw a 55% drop-off in insolvencies this month compared to the same period last year, while counties Dublin and Meath accounted for the highest proportions of insolvencies.

The decrease in Cork is more than twice that of the …

First-time buyers bear a greater burden of the costs arising from mortgage lending restrictions despite being 30% less likely to default on their loans than other homeowners.

Research by the Central Bank shows first-time buyers are far less likely to default on mortgages than their counterparts whose loans have been taken out on a subsequent property.

However, the mortgage lending caps such as those introduced in Ireland earlier this year, …

First-time buyers bear a greater burden of the costs arising from mortgage lending restrictions despite being 30% less likely to default on their loans than other homeowners.

Research by the Central Bank shows first-time buyers are far less likely to default on mortgages than their counterparts whose loans have been taken out on a subsequent property.

However, the mortgage lending caps such as those introduced in Ireland earlier this year, …

The IMF has urged Minister for Finance Michael Noonan to cut its budget deficit much more quickly in the budget—the last before the election.

The warning — delivered in its third post-bailout monitoring report published yesterday — implies the IMF wants the Coalition to rein in its budget plans and think more about paying down the national debt.

The IMF also appears to come down on the side of the …

The pound rose to its strongest level in a month against the dollar as the fastest increase in Britons’ wages since 2011 had traders rushing to reassess how soon the Bank of England may raise interest rates.

Sterling extended its gains into a seventh day versus the euro, the longest streak since March, after the 2.7% annual increase in average weekly earnings surpassed analyst estimates and pointed to tightening labour …

Revised plans to make sure companies operating in the EU pay tax in some jurisdiction in the union got a mixed reception after the European Commission outlined the details.

While the commission insists the plans would not interfere with each country’s right to decide its own corporation tax rate, they will affect how much tax will be collected by member states.

The main elements are a common corporate tax base …

The Central Bank has issued its rosiest outlooks on the economy since the end of crisis, but warned that the cost of credit for small and medium businesses is rising, rather than falling as seen elsewhere in Europe.

Criticised for failing to prevent the build-up of pressures that led to the banking and economic crash, the Central Bank has published in recent times a regular assessment of the risk factors …

Exports, a key artery in the heart of the economy, are booming. Data in April showed a 30% rise year-on-year, while the export of goods are up 20% year to date.

Ireland, in a global context, is a somewhat unusual economy because it is so exposed to the tradewinds of international commerce.

Unlike many larger economies, where the domestic market accounts for the bulk of commercial activity, Ireland relies heavily …

Recent research from Morgan Stanley suggested an all-time low for exploration-related M&A activity in the first quarter of 2015.

But despite slow movement in oil sector consolidation and investment, confidence remains that global players haven’t given up on the Irish offshore dream.

The vicious circle of Ireland needing two or three drilling programmes a year, despite the necessary investment for this not forthcoming, has continued this year with many significant …