Construction sector under Celtic Tiger levels of pressure – report

The construction sector is under Celtic Tiger levels of pressure and is in danger of overheating, according to a new report from construction consultants Mitchell McDermott. The report says 30,000 additional construction workers are required if housing targets are to be met. It says construction output grew by 12% last year, but the number of workers only […]

Dublin world’s 17th most congested city – report

A new report shows that Dublin is the 17th most congested city in the world, with motorists spending an average of eight days and 21 hours sitting in peak traffic a year. The TomTom Traffic Index examines the traffic situation in 416 cities in 57 countries around the world.  The report showed that congestion has […]

Retail sales rebound in December – CSO

The volume of retail sales increased by 5.8% on an annual basis in December compared to annual growth of 1.4% in November, the Central Statistics Office said today. Today’s figures show that retail sales volumes rose by 3.6% in December from November, with sales of food, beverages and tobacco; and cars showing the largest increase. […]

EU says member states can ban or restrict high-risk suppliers from their 5G networks

EU countries including Ireland can restrict or ban high-risk 5G vendors from core parts of their telecoms networks, according to new EU guidelines published today. The move is likely to hurt China’s Huawei but unlikely to appease the United States. The non-binding recommendations, agreed by the bloc’s 28 countries, seek to tackle cyber-security risks at […]

Mortgage arrears fall again in third quarter – Central Bank

New figures from the Central Bank show that the number of homeowners in arrears for more than three months fell to a nine-year-low of 5.9% in the third quarter from 6% at the end of June.  The Central Bank also said the decline in the number of home mortgages in arrears for two or more […]

Six euro zone banks fall short of ECB capital demands

Six euro zone banks have fallen short of the European Central Bank’s capital demands and have been told to shore up their balance sheets or face tighter controls.  The ECB’s annual review of banks comes as many lenders are struggling to make money in an environment of ultra-low interest rates. They are also facing high […]

Oil drops below $60 as China virus stokes demand concern

Crude prices dropped below $60 for the first time in nearly three months today, as the death toll from China’s coronavirus rose and more businesses were forced to shut down, fuelling expectations of slowing oil demand. Brent crude was down $1.40 a barrel at $59.29 this afternoon to mark its lowest since late October and […]

Temporary trade dispute appeal system agreed at Davos

The European Union, China and 15 other countries agreed today to develop a temporary system for appealing trade dispute rulings after the recent US-provoked collapse of the WTO appeals body.  Ministers from the group published a joint statement announcing a “multi-party interim appeal arrangement”.  The arrangement was reached during a meeting at the World Economic […]

Home building levels reach 10 year high – Goodbody

21,500 new homes were completed last year, according to new analysis from stockbrokers Goodbody, up 19% on the figure for 2018. The increase marked the highest rate of growth in a decade and is nearly five times greater than the 2013 trough of 4,575. However it still sits below the 34,000 units that the Central […]

Ireland has fifth largest number of billionaires per capita – Oxfam

A new study has found that Ireland has the fifth largest number of billionaires relative to its population of any country in the world. The report, produced by Oxfam ahead of the start of the World Economic Forum in Davos, claims that with 17 billionaires, most of whom are men, Ireland is mirroring the global trend […]

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