Posts Categorized: Practicenet News

New forecasts from ECB cuts eurozone growth outlook to 1pc

The European Central Bank (ECB) left official interest rates unchanged and at an all time low on Thursday, good news for householders with tracker mortgages. But, ECB president Mario Draghi issued new forecasts cutting the eurozone’s growth outlook for next year to just 1pc from the 1.6pc predicted three months ago. Despite that, the ECB… Read more »

Consumers urged to ‘think twice’ about moneylending loans this Christmas

The Central Bank is urging consumers to “think twice” before taking out additional loans from moneylending firms this Christmas. “Households often have additional expenses at this time of year, and consumers could be tempted to take out additional loans to cover these expenses, including from moneylending firms,” said Bernard Sheridan, director of consumer protection with… Read more »

Irish services sector keeps up robust pace of growth in November – PMI

Irish services sector activity expanded rapidly again in November, suggesting that the economy will finish the year with solid growth. The Investec Purchasing Managers’ Index of activity in the services sector, which covers businesses from banks to hotels, inched up to 61.6 from 61.5 in October and was just short of June’s seven-year high. The… Read more »

German and British opposition could hurt plan to cut taxes for innovative companies – Finance Minister

Finance Minister Michael Noonan has signalled that German and UK opposition could hamper plans for a so-called “knowledge development box” announced in the Budget. The scheme, which would cut taxes for innovative companies, will be implemented as part of next year’s Budget, the minister said, even though the so-called “double Irish” tax loophole it is… Read more »

Decision to end ‘double Irish’ loophole ‘extremely smart’

Leading OECD official says Government decision sent out positive message internationally. The announcement by Ireland that it is ending the so-called “double Irish” tax structure was perceived as “extremely smart”, a leading official from the Organisation for Economic Cooperation and Development has told a Dublin conference on corporate taxation. The director of the OECD’s centre… Read more »