Trade surplus slips 1% but exports set to grow
Ireland’s seasonally adjusted trade surplus slipped by 1% to €3.8bn in February, although another strong export performance is anticipated for 2015, as a whole.
Latest preliminary CSO figures, released yesterday, showed a 3% – or €238m – monthly rise in export value to just over €8.5bn for February. A marginally higher (6%) increase in import performance, for the month, pushed the trade surplus down by €34m. February’s surplus reduction came …
ECB ‘committed to bond buying’
The ECB has no plans to curb or curtail its money-printing programme though it expects eurozone economic recovery to broaden and strengthen.
Last month, the ECB embarked on an asset-buying programme with €60bn a month of new money, which it has said will last until at least September 2016.
“Our focus will be on the full implementation of our monetary policy measures,” ECB president Mario Draghi said yesterday.
Seeking a slice of world’s most expensive bank
It’s hard to overstate just how much global investors are captivated by HDFC Bank, India’s biggest lender by market value.
Not only does the stock trade at the highest valuation among the world’s largest banks, but international funds are so bullish that they’re willing to pay a record 20% premium over HDFC’s local stock price to get their hands on the limited number of shares available to foreigners. Brokerage analysts, …
Population growth offers huge benefits
It might surprise you to learn that 17 million people live in a geography the same size as Munster. That geography is the Netherlands where a normal and civilised society can function, despite the challenges that come with having so many people in such a small space.
It makes you wonder what potential exists for a place like Munster, where less than one million people reside or, indeed, Ireland as …
Irish State may retain 75% stake in re-listed Permanent TSB
The Government is expected to only dispose of 20%-25% of its stake in Permanent TSB, rather than the 40% originally envisaged.
PTSB yesterday confirmed that it will use a public share offering — the first launched by an Irish bank since the financial crisis — to raise the bulk of the €525m it is looking for in order to pay back government loans and shore up capital shortfalls identified in …
25% rise in professional job opportunities in first quarter of 2015
The availability of professional job opportunities increased by more than a quarter in the opening three months of the year, compared with a year ago.
A number of sectors experienced particularly strong growth in the number of jobs available, including firms in the financial services sector, human resources, multilingual and engineering spheres.
The growth in opportunities is likely to lead to a supply shortage with available indigenous expertise insufficient to …
Sharp rise in consumer debt deals going through State's insolvency service
THERE has been a sharp rise in the number of consumer debt deals done through the State’s insolvency office.
But mortgage arrears campaigners warned that the deals were not being done fast enough to cope with the huge numbers of homeowners in financial trouble.A total of 400 debt arrangements were put in place in the first three months of this year, the Insolvency Service of Ireland said. Some 129 of …
IMF predicts even stronger growth for Ireland than it forecast just last month
The International Monetary Fund (IMF) is predicting stronger growth for Ireland this year and next year than it forecast just last month.
In its World Economic Outlook report, published this afternoon, the Fund is forecasting GDP growth of 3.9pc this year, better than the 3.5pc predicted in its most recent staff report. That’s better than the current 3.6pc projection from the Department of Finance, although it is possible that the …
Savers increasingly optimistic on putting money away
Saving is on the up as we move towards summer, with an increase in the number of people putting money away, driven by a more favourable attitude to the savings environment.
A significant increase in the number of people saving was seen last month when compared to February, with the Nationwide UK/ESRI Savings Index climbing 12 points to 117.
This reflects a more positive attitude among consumers to Government policy …
Bullish Ibec raises growth forecast to 5.4%
The forecast, contained in the employers’ representative’s first quarter economic outlook, published this morning, is notably more upbeat than the steady opinion offered by the Central Bank, which earlier this month, upped its 2015 growth forecast by just 0.1% to 3.8% and decreased its 2016 growth prediction by 0.1% to 3.7%.
In contrast, Ibec has upped its forecast for economic growth this year from an already high outlook of 4.8%. …