Posts Categorized: Syndicated News

Irish economic growth for 2018 revised up to 8.2%

Irish economic growth for 2018 revised up to 8.2% The Irish economy grew 8.2% last year, according to new data released by the Central Statistics Office. Gross Domestic Product, a measure of the total output of an economy, stood at €324 billion for the year, the CSO said. But when the profits of multinationals were… Read more »

Economy set for solid growth but EU warns of overheating

Economy set for solid growth but EU warns of overheatingThe European Commission has predicted that the Irish economy will continue to grow at a solid pace but warned that the risk of overheating could increase in the near term. In its quarterly economic forecasts, the Commission said that the Irish economy – as measured by… Read more »

Ireland remains competitive, but threats to economic sustainability on the rise

Ireland remains competitive, but threats to economic sustainability on the rise Ireland continues to perform well in the three most influential competitiveness indicators, according to the latest Competitiveness Scorecard published by the National Competitiveness Council. The NCC said that Ireland is ranked 7th in the IMD rankings and ranked 23rd in both the WEF and… Read more »

Annual inflation moves up to 1.1% in June

Annual inflation moves up to 1.1% in June New figures from the Central Statistics Office show that the annual inflation rate inched up to 1.1% in June from 1% the previous month on the back of higher rents, more expensive utility bills and higher air fares. June marks the fourth month in a row that… Read more »

Mortgage approvals rise by 10% in May year on year

Mortgage approvals rise by 10% in May year on year Almost 5,000 mortgages to the value of over €1.1 billion were approved in May, the latest figures from Banking and Payments Federation Ireland show. Over 51% of these were for first-time buyers while mover purchasers accounted for 26.3%. Today’s figures show that the volume of… Read more »

Irish pension funds diversify amid uncertain outlook

Irish pension funds diversify amid uncertain outlook Pension funds here have lowered their exposure and diversified into property, infrastructure and hedge funds according to a new report from Mercer. The survey of 876 institutional investors across 12 countries managing assets of around €1 trillion found average equity allocations for Irish defined benefit schemes have fallen… Read more »

Crude oil prices fall 1% on fears for global economy

Crude oil prices fall 1% on fears for global economy Brent oil ticked higher today, supported by tensions over Iran and the decision by OPEC and its allies to extend a supply cut deal until next year, while US benchmark crude prices fell on weak economic indicators. Brent was up 53 cents at $63.83 per… Read more »

France issues first 10-year bond at negative interest rate

France issues first 10-year bond at negative interest rate France issued its first-ever 10-year bond at a negative borrowing rate today, meaning investors pay, rather than receive, interest for the privilege of owning French sovereign debt, the state debt management agency AFT said. AFT said that it issued €9.996 billion in long-term bonds, with just… Read more »

Injury awards driving up insurance prices – insurers

Injury awards driving up insurance prices – insurers Insurance premiums will fall if the cost of claims in Ireland falls, insurance companies have been telling the Oireachtas Finance committee. The Chief Executive of Allianz, Sean McGrath, said the single biggest issue facing the cost of claims is getting the high level of injury awards under… Read more »