Across the euro area as a whole banks have relaxed lending standards for the first time since the second quarter of 2007, though the effects have yet to feed through to Irish lenders.

Banks here did not loosen credit standards in the period from the start of April to the end of June, but did see increasing demand for mortgages, 
consumer loans and business loans.

Argentina is expected to default on its debt within hours after talks with holdout creditors broke down.

As the clock ticked toward a midnight deadline, Economy Minister Axel Kicillof stuck firmly to the government line, repeatedly denigrating the holdouts as “vultures” after two days of intense negotiations.

Argentina looks set to default on its debts for a second time in less than 13 years as efforts to end an impasse with creditors suing the country before a crucial interest payment deadline appeared to be coming up short.

In an attempt to find a last-minute solution to the crisis, Argentinian officials met with a US court-appointed mediator on Tuesday but they refused face-to-face negotiations with the so-called “holdouts”, …

The Government will belatedly introduce rules to force disclosure of shares held through contracts for difference (CFDs) next year – five years later than first planned.

In October 2010, the Department of Finance said it would bring forward rules on the reporting of CFD positions within weeks, in the wake of the collapse of Anglo Irish Bank, where businessman Sean Quinn had secretly built up a 29pc stake using the …

The bank said its results represented a €1.3bn improvement in performance compared with the first half of last year with funding and capital positions stable and improving.

The bank last reported a full-year profit in 2008 as the financial crisis was hitting.

The expected move to profit marks a milestone as it moves towards repaying a state bailout next year- the €20bn cost to the taxpayer was the most given …

The Central Bank has given the go-ahead for investment funds to start lending to Irish businesses. It could put the funds in direct competition with the banks.

The Central Bank has published a consultation paper on “loan-originating alternative investment funds (AIFs)” including hedge funds. The paper, the bank said, signals its intention to allow such funds to start lending directly to corporates.

Up to now the regulator has banned investment …

Ireland-based hedge funds will be allowed to lend money under new rules announced by the Central Bank.

While such funds had previously been precluded from lending as it was considered too risky by the regulator, they could soon be allowed to create special funds to lend to business.

The Central Bank today issued a consultation paper on the issue and the rules could be in place by the end of …

The economy will expand by 3.3pc next year as exports rebound and the tax take improves, the Central Bank said in its most optimistic forecast in years.

Gross domestic product is seen growing 2.5pc this year and 3.3pc next year, the bank said in its quarterly report published this morning.

If correct, the economy will grow 12 times faster this year than it did last year when the economy eked …

The OECD is looking at closing tax loopholes which allow some companies to legally pay little or no tax.

The proposed changes to the international tax regime must continue to allow a company to be incorporated in Ireland but not pay tax here if its tax home is covered by a tax treaty, the chartered accountants have argued.

Failing to do so could damage foreign direct investment, the Consultative Committee …

Buyers, specifically first-time buyers, are getting shafted, as tighter credit conditions and 2005-level house prices push them out in favour of the cash buyer, the institutional investor, or the punter from the rest of the world looking for a decent rental yield in this low inflation, low interest rate, low yield world we now inhabit on this side of Europe.

Those on the sell side of the property market outside …