Archive for February 2022
Tough sanctions on Russia knock 2% off European stocks
European stocks sank this morning as Western countries imposed tough new sanctions on Russia following its invasion of Ukraine, while soaring oil prices fed into fears of runaway inflation. Shares in London were down 1%, while the Paris and Frankfurt markets were 2% lower in early trade. The Dublin market opened 0.7% lower this morning…
Read MoreMask mandate comes to an end as most restrictions lifted
The wearing of masks in retail settings and on public transport is no longer mandatory from today. Close contact rules have also changed for everyone, except healthcare workers. Public health measures in schools – such and masks, pods and staggered arrival times – have also come to an end. The move comes almost two years…
Read MoreEC invites comments on proposed insurance data remedies
The European Commission is inviting comments on the commitments offered by Insurance Ireland to address competition concerns around access to a data sharing platform which the insurance body runs. EU competition regulators announced last summer that they had formed the preliminary view after a two-year investigation that Insurance Ireland breached competition rules in the motor…
Read MoreCost of living and price of housing identified as key challenges
The cost of living and the price of housing are the key issues facing the economy and people’s personal finances, according to a survey by Permanent TSB (PTSB). PTSB published the latest edition of its Reflecting Ireland research series on Friday. The series polls public attitudes each quarter and includes recurring questions about how people…
Read MoreConsumer sentiment dips on inflation, conflict concerns
Consumer sentiment dipped in February, according to the latest survey from KBC Bank Ireland. The drop was blamed on the increase in living costs experienced by households in recent weeks, as well as rising concerns about a conflict between Russia and Ukraine. Consumer sentiment fell to 77 in February – down almost five points on…
Read MorePaschal Donohoe ‘optimistic’ on prospects for EU banking union
Minister for Finance Paschal Donohoe is “optimistic” that progress can be made on the completion of the EU banking union in the coming months, identifying it as “an important priority” for him in his role as president of the Eurogroup of euro zone finance ministers. Mr Donohoe said he was “committed” to fulfilling the mandate…
Read MoreMajority in favour of flexible working arrangements: poll
Women, younger people and the lower paid are strongly in favour of more flexible working arrangements according to a poll carried out on behalf of the Labour Party. In a survey carried out by Ireland Thinks, 71% of respondents agreed that employees who can work remotely should have the right to do so. Some 81%…
Read MoreMortgage approvals down on December but up year-on-year – BPFI
Mortgage approvals fell in January when compared to the previous month, but were higher year-on-year, according to data from the Banking Payments Federation of Ireland. There were 3,621 mortgages approved last month, down 6.1% on December but 7.9% higher than in January 2021. The total value of the month’s approvals stood at €932m, which was…
Read MoreInflation hitting low income, rural and older households harder – Central Bank
A new report from the Central Bank has found that lower income, older and rural households have faced a higher than average increase in the cost of living in recent months. This is because they spend a bigger proportion of their income on heating, energy and transport, all of which have gone up sharply in…
Read MoreIreland’s national debt ‘one of the highest in the world’ on a per capita basis
The State took on an additional €33 billion in debt over the two years of the pandemic, according to a new report from the Department of Finance. The national debt stood at €237 billion at the end of last year. This equates to €47,233 for every person in the country and is described in the…
Read More