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House rebuild costs rise by 6%, SCSI survey shows

House rebuild costs rise by 6%, SCSI survey shows

National average re-build costs have increased by an average of 6% over the past year, the latest Guide to House Rebuilding Costs from the Society of Chartered Surveyors Ireland reveals.

The Guide to House Rebuilding Costs is used by homeowners to calculate the rebuilding costs of their home for insurance purposes.

The SCSI stressed that homeowners should understand the …

Bank to the future: online banking set for big changes

Bank to the future: online banking set for big changes

In the past few weeks it’s likely that your bank, credit union or building society has been in touch to ensure that the contact details they have on file for you are correct. That’s so they can comply with new European rules, coming into force this weekend, that aim to make online transactions more secure.

The addition of ‘Strong Customer …

Petrol and diesel prices could rise ‘significantly’ – AA Roadwatch

Petrol and diesel prices could rise ‘significantly’ – AA Roadwatch

Motorists can expect a hike in the price of petrol and diesel prices within weeks following attacks on two Saudi oil processing plants, according to AA Roadwatch.

The warning came as the cost of a barrel of oil surged after drone strikes on national energy giant Aramco’s Abqaiq processing plant and Khurais oil field at the weekend.

The attack has …

ECB announces measures to kick start euro zone economy

ECB announces measures to kick start euro zone economy

The European Central Bank today promised an indefinite supply of fresh asset purchases and cut interest rates deeper into negative territory, an effort to prop up the ailing euro zone economy.

The moves come in the final weeks of ECB President Mario Draghi’s mandate.

They will increase pressure on the US Federal Reserve and Bank of Japan to ease next …

France urges EU rules on cryptocurrencies, warns of Libra risks

France urges EU rules on cryptocurrencies, warns of Libra risks

The European Union should create a common set of rules for virtual currencies, currently largely unregulated in the bloc, to counter risks posed by Facebook’s cryptocurrency Libra, France’s Finance Minister said today.

The 28-nation EU does not have specific regulations on cryptocurrencies.

So far cryptocurrencies have been considered a marginal issue by most decision-makers because only a tiny fraction …

Higher rents and mortgages push inflation higher

The annual inflation rate in August rose to 0.7% from 0.5% a month earlier, new figures from the Central Statistics Office show.

Inflation had risen above 1% year-on-year for the first time in six years in March but slipped back below that level in July.

August saw consumer prices rising on the back of higher rents and mortgage repayments as well as increased health insurance premiums and more expensive hair …

Minister to write to 220,000 businesses over Brexit

The Minister for Business is to write to 220,000 companies all over the country to highlight the need for the them to take urgent action to protect their businesses against the risks posed by Brexit.

The letters will be issued through the Companies Registration Office and will tell firms about the supports that are available to help them get ready for the UK’s exit from the EU.

Heather Humphrey’s department …

Better to preserve resources than cut taxes in Budget 2020 – Donohoe

Better to preserve resources than cut taxes in Budget 2020 – Donohoe

Minister for Finance Paschal Donohoe has said it will be far better off preserving resources to deal with the possibility of a no-deal Brexit, rather than reducing taxes in Budget 2020.

Yesterday, Cabinet agreed to base Budget 2020 on the assumption that there will be a no-deal Brexit, with Mr Donohoe ruling out any reductions in personal taxation …

Nervous bondholders switch from Irish debt

Nervous bondholders switch from Irish debt

Investors in Ireland’s bonds are sitting on double-digit returns this year after a global debt rally and are now starting to get nervous.

In Ireland’s case, the UK’s political turmoil means a no-deal Brexit could spark worries over credit risks.

So far Irish debt has been relatively immune to Brexit, which has sent the pound and Irish stocks slumping.

“We generally see very little …

Sterling rebounds on data surprise, Brexit hopes

Sterling rebounds on data surprise, Brexit hopes

Sterling rebounded from early lows today and headed towards a five-week high as surprisingly strong data and growing optimism that Britain will not crash out of the European Union without a deal boosted demand for the British currency.

Against the dollar, the pound gained 0.6% to $1.235 after weakening 0.2% to $1.2233 earlier.

It hit a one-month high of $1.2353 last …

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