Categorized as: Syndicated News

Ibec expects employment growth to slow down in 2019

Ibec expects employment growth to slow down in 2019

The organisation representing employers here has warned the biggest challenge facing business is the ongoing capacity constraints in the labour market.

Ibec says the shortages will cause growth in employment to slow this year as the economy approaches full employment and firms struggle to fill vacancies.

In its first quarterly Economic Outlook of 2019, Ibec says the Irish economy is currently …

Central Bank seeks extra power to force banks to further increase their capital

Central Bank seeks extra power to force banks to further increase their capital

The Governor of the Central Bank has written to the Minister for Finance asking him to put in place measures that would enable the regulator to force banks to hold more capital if systemic risks increase.

Philip Lane said the extra capital required by the Systemic Risk Buffer (SyRB) would help improve the loss-absorbing capacity of the …

Booming economy sees incomes soar to record levels

Booming economy sees incomes soar to record levels

Household income is at a record high and continuing to grow sharply, underpinned by jobs and investment, according to a new report.

In contrast to the Celtic Tiger, when notional wealth was linked in many cases to debt-funded property assets, rising incomes are underpinned by what are described as “exceptional levels” of business investment and related employment effects, in the new research …

Controversial copyright reforms get backing of EU countries

Controversial copyright reforms get backing of EU countries

European Union countries have adopted copyright reforms championed by news publishers and the media business, but opposed by US tech giants like Google.

EU countries adopted the reforms that were agreed last month by the European Parliament, they said in a statement.

“The new rules ensure adequate protection for authors and artists, while opening up new possibilities for accessing and sharing copyright-protected …

First Budget surplus for State since 2007 as ‘lost decade’ took toll on national purse

First Budget surplus for State since 2007 as ‘lost decade’ took toll on national purse

The State eked out a Budget surplus of €50m last year, its first since 2007.

The latest financial data shows rising tax revenues offset a 7.5pc surge in the wage bill of Government employees to €22.2bn, or 27pc of total spending.

Data from the Central Statistics Office released yesterday showed how the wage bill for …

Trade surplus drops by 12% in February – CSO

Trade surplus drops by 12% in February – CSO

New preliminary figures from the Central Statistics Office show the volume of exports decreased by €604m, or 4%, to stand at €13.22 billion in February compared with January.

The CSO also said that imports increased by €265m, or 4%, to €6.925 billion.

This resulted in a decrease of €868m – down 12% – in the seasonally adjusted trade surplus to …

EU gets green light for US trade talks

EU gets green light for US trade talks

EU countries gave initial clearance yesterday to start formal trade talks with the United States, EU sources said, in a move designed, but not guaranteed, to smooth strained relations between the world’s two largest economies.

The European Commission has sought clearance for two negotiating mandates – one to cut tariffs on industrial goods, the other to make it easier for companies to …

Ireland records the highest start-up figures in 13 years

Ireland records the highest start-up figures in 13 years

An average of 71 companies were set up every day in Ireland during the first three months of 2019.

This is despite Brexit uncertainty and concerns about a slowdown in the global economy.

The largest number of companies was founded in the professional services sector, according to figures from business information company CRIF Vision-Net.

The construction sector also reported a modest …

€8.6bn invested in Irish office space since 2013

€8.6bn invested in Irish office space since 2013

Almost €8.6 billion has been invested in Irish office property over the past six years, according to a report from Savills.

It said that low interest rates and a rapid growth in services-based employment has driven demand for office space in Ireland, particularly in Dublin.

The report found that more than 1.4 million square meters of Dublin office space has traded hands …

High costs pose threat to business competitiveness – NCC report

High costs pose threat to business competitiveness – NCC report

The National Competitiveness Council has warned that rising rents, the increasing cost of labour, and a high marginal tax rate pose possible threats to the competitiveness of businesses in Ireland.

Its Cost of Doing Business in Ireland report also cautions that above European Union average interest rates, the cost of business services, and the price of credit all pose a …

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