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Irish property market ‘leads way in Europe’

Irish property market ‘leads way in Europe’

Growth in Ireland’s property market remains “significantly ahead” of the rest of Europe, according to the European arm of US investment giant Starwood Capital.

The European division said Dublin features low vacancy rates in prime offices, hotels that have the top occupancy rates of all cities in Europe, and a shortage of residential and student accommodation.

Starwood European Real Estate has just over …

The big impact of Brexit on Ireland’s small businesses

The big impact of Brexit on Ireland’s small businesses

Opinion: there is no doubt that Brexit will impact small businesses, but the impact is and will be different for different sectors

The economic and political uncertainty surrounding Brexit is a constant in our news cycle since the referendum in the UK in 2016 and there is little sign of the uncertainty dissipating. Estimates of Ireland’s national level of Brexit trade-related …

Oil consumption here continues to increase with diesel volumes up 42% last year

Oil consumption here continues to increase with diesel volumes up 42% last year

The organisation representing the petroleum industry here has pledged to play its part in Ireland’s transition to a low carbon and environmentally sustainable economy.

But the Irish Petroleum Industry Association (IPIA) says moving to such an economy requires a clear understanding of the current situation around the country’s use of oil products.

In order to …

Mortgage rules and Brexit cause Dublin house prices to fall

Mortgage rules and Brexit cause Dublin house prices to fall

Brexit is continuing to cause uncertainty at the upper ends of the property market here.

That’s according to agent REA, which says the market has segmented into two groups – those who need to buy and those who are able to choose when they can move.

“The first set of buyers are purchasing properties under €350,000, but the latter are …

Government pledges to generate 70% of electricity from renewable sources by 2030

Government pledges to generate 70% of electricity from renewable sources by 2030

The Government has pledged to generate 70% of the country’s electricity supply from renewable sources by 2030.

The figure is up from the current target for the period, which stands at 55%.

The commitment will form part of the new climate action plan that is being overseen by Minister for Communications, Climate Action, and the Environment Richard Bruton.

Ireland jumps to fifth in the world for competitiveness

Ireland jumps to fifth in the world for competitiveness

Ireland has become the fifth most attractive country in the world to do business in, according to a new study.

Ireland has risen by two places in the latest BDO International Compass, which measures the competitiveness of a country across the three areas of economic, politico- legal, and socio-cultural. Managing partner at BDO Ireland Michael Costello said the result will …

Bund yields stay negative as recession fears mount

Bund yields stay negative as recession fears mount

Germany’s benchmark 10-year bond yield held below zero on Monday and close to its lowest levels in more than two years as fears grew that the world economy was headed for recession.

After posting its biggest one-day fall since the start of January on Friday, the German Bund yield — alongside euro zone peers — crept higher in early trade with focus …

Irish bank shares and sterling hit amid Brexit political chaos

Irish bank shares and sterling hit amid Brexit political chaos

Irish bank shares and the pound fell sharply yesterday as investors confronted the possibility of a no-deal Brexit.

With Ireland’s economy significantly exposed to a no-deal scenario, Permanent TSB lost almost 6.5pc, AIB lost 5.35pc and Bank of Ireland lost 4.87pc – all serving to reduce the value of the taxpayers’ remaining holdings in those banks.

The pound fell as …

‘Challenging’ year on the energy market, according to ESB

‘Challenging’ year on the energy market, according to ESB

ESB delivered “satisfactory results” in 2018 in what was a challenging year on the energy market, according to the company’s chief financial officer.

ESB reported an operating profit of €455m last year, and invested €1.2 billion in long term electricity infrastructure as part of its brighter futures strategy as it transitions to a lower carbon energy future.

The profits will …

Business people buying almost 25% of Irish farmland – report

Business people buying almost 25% of Irish farmland – report

Almost 25% of farmland sold in 2018 was bought by business people, the Irish Farmers Journal Agricultural Land Price Report for 2018 shows.

Almost 7,800 acres of farmland was bought by business people in 2018, out of a total of 31,687 acres – amounting to 17% of individual land sales.

The Irish Farmers Journal said that business people – …

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