Archive for March 2024
Consumer queries to CCPC increase by 20% in 2023
Consumer queries to the Competition and Consumer Protection Commission were up 20% last year, with faulty goods and services being the subject of most contacts. Almost 40,000 people contacted the helpline throughout the year. The CCPC has released its helpline report for 2023 to coincide with World Consumer Rights Day. Most queries to the commission…
Read MoreConcern as credit funds increase borrowing from banks
Europe’s private credit funds are increasingly borrowing from banks to boost their performance, fuelling concerns about the wider risks posed by this interconnectedness. A record 80% of new European private credit funds borrowed from banks via ‘subscription lines’ in 2023, funding that allows them to lend before tapping their investors for cash, MSCI Private Capital…
Read MoreWhat’s included in the new EU law on AI
The European Parliament has given the final nod to far-reaching rules on artificial intelligence that the EU hopes will both harness innovation and defend against harms. The law, known as the “AI Act”, was first proposed in April 2021 by the European Commission, the EU’s executive arm. But it was only after Microsoft-funded ChatGPT burst…
Read MoreMortgage rates rose in January to seventh highest in eurozone
The average interest rate on new mortgages in Ireland rose in January, according to new data from the Central Bank. At the end of the month, the average rate was 4.27%, up 0.08% from a month earlier. It means rates on new mortgages in Ireland are now the seventh most expensive in the euro area,…
Read MoreThe Digital Edge: Integrating Tech Solutions for Financial Efficiency
In the swiftly transforming landscape of the 21st century, harnessing the power of digital technology has become not just an advantage, but a necessity for businesses seeking financial efficiency. At KAAS we know that the advent of innovative tech solutions offers unprecedented opportunities to streamline operations, reduce costs, and enhance decision-making processes. “The Digital Edge:…
Read MoreSlight fall in household saving at the end of 2023 – CSO
New figures from the Central Statistics Office show that the rate of household saving fell slightly in the last three months of 2023 and in the year as a whole as inflation continued to drive consumption during the year. Today’s figures show that the Household Saving Rate eased to 10.19% in the fourth quarter of…
Read MoreCentral Bank said mortgage interest relief not focused on those suffering from rising rates ‘shock’
The Central Bank told the Department of Finance a scheme for mortgage interest relief would almost exclusively benefit homeowners aged over 40 who were the least likely to have challenges paying back their home loan. In an analysis of Government plans to help mortgage holders in last year’s budget, the Central Bank said the scheme…
Read MoreCentral Bank revises down forecast for domestic economy this year
The Central Bank has revised downwards slightly its forecasts for growth in the domestic economy this year, but still expects that it will continue to grow at a moderate pace over the next three years. The bank is now predicting that Modified Domestic Demand (MDD) will expand by 2.2% this year, down from its forecast…
Read MoreEmpowering Your Team: Financial Literacy for Non-Financial Managers
In today’s rapidly evolving business landscape, the importance of financial literacy extends far beyond the confines of accounting departments. At KAAS we know that as organisations strive for greater efficiency and strategic agility, equipping non-financial managers with financial knowledge becomes crucial. This empowerment fosters a culture of informed decision-making, where every team member contributes to…
Read MoreECB rate cut coming, but not just yet, says Governing Council’s Kazimir
The European Central Bank is increasingly confident that inflation is coming down, but should still hold off on an interest rate cut until June, Slovak Governing Council member Peter Kazimir said today. The ECB held rates unchanged at a record high last week, but its chief Christine Lagarde said discussions over easing policy have begun…
Read More