Archive for May 2024
Economic growth set to moderate but remain robust in coming years
The Irish economy is expected to continue expanding at a robust pace in the coming years, according to a new report from AIB. However, it states that this growth will be more moderate than the pace of recent years as the economy bounced back from the pandemic. The inaugural AIB Economic Outlook Report forecasts that…
Read MoreAnnual inflation increases to 1.9% in May from 1.6% in April – flash CSO data
The annual rate of inflation increased to 1.9% in May, up from 1.6% in April, a flash estimate of the Harmonised Index of Consumer Prices (HICP) from the Central Statistics Office showed today. The CSO said that HICP increased by 0.5% on a monthly basis, up from an increase of 0.2% in April. The core…
Read MoreCentral Bank recorded a €132m loss in 2023
The Central Bank made a loss of €132.1m last year, as a result of monetary policy decisions taken across the euro area to bring inflation down. Its Governor said the bank had been expecting and preparing over a number of years for the possibility of making a loss at some point and has reserves of…
Read MoreTech companies call for introduction of AI regulations
Major technology companies have called on politicians to regulate artificial intelligence. Appearing before TDs and senators on the Oireachtas Enterprise Committee, representatives from Amazon, Google and Microsoft spoke of the negative and positive impacts that the technology might have. Kieran McCorry, National Technology Officer of Microsoft Ireland, told committee members that, at present, there is…
Read MoreAverage weekly earnings up 4.7% in first quarter of 2024 – CSO
New figures from the Central Statistics Office show that average weekly earnings rose by 4.7% to stand at €969.12 in the first quarter of this year compared to €925.44 the same time last year. Today’s CSO figures also show that average hourly earnings rose by 4.5% to €29.82 in the first three months of the…
Read More€100m stolen through frauds and scams in Ireland in 2023
Almost €100m was stolen by fraudsters through frauds and scams last year, new data shows. That represents an increase of 16% on the previous year, according to FraudSMART which collated the information. 95% of total fraudulent transactions and 36% of gross fraud losses were accounted for by card fraud. Fraudulent card payments were up 8.2%…
Read MoreProtecting Your Assets: An In-Depth Guide to Business Insurance Options
In the intricate world of business, risks loom at every corner. From liability claims to property damage, the potential financial ramifications can be crippling. Business insurance serves as a critical safety net, providing financial protection and peace of mind. This article from KAAS delves into the various types of business insurance available and offers insights…
Read MoreECB to focus on quarterly meetings with slow, gradual rate cuts – Knot
The European Central Bank can gradually reduce interest rates given the decline in inflation, and decisions on future cuts could centre around quarterly meetings with new economic projections, Dutch central bank chief Klaas Knot said today. The ECB has all but committed to a rate cut on June 6 when new economic forecasts will also…
Read MoreRetail sales dip by 1.2% in April from March – CSO
New figures from the Central Statistics Office show that retail sales fell by 1.2% on a monthly basis in April to stand 0.9% lower than a year earlier. The CSO said that excluding volatile car sales, retail sales volumes were 0.1% higher on the month and 0.2% up year-on-year. Today’s CSO figures show that the…
Read MoreCross border tourism triples in last decade, report shows
The tourism industry across the island of Ireland is worth almost €17 billion to the economy, and supports 300,000 jobs, new data shows. The report from Ulster University and Dublin City University highlights the value of both domestic and international tourism to the island. It states that the sector has bounced back from the challenges…
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