Categorized as: Syndicated News

House prices continue to grow but rise in capital double that of national average

THERE has been another strong rise in property prices. They rose by 10.6pc in May when compared with a year previously, the Central Statistics Office said today.

In the month of May, prices nationally were up 2.3pc. advertisement

But the surge in prices in the capital was double the national average.

Prices jumped by 22pc in Dublin compared with a year ago, after a rise of 4.2pc in the month.

IMF demands tax hikes, spending cuts ‘to protect hard won gains’

The Washington-based lender said the Government should stick with the planned adjustment to protect “hard won gains” rather than simply aim to meet next year’s crucial EU deficit target

The call for another austerity budget was also made by the Fiscal Advisory Council earlier this week, while the European Commission said last week that it wants more than the €2bn in cuts and tax hikes. advertisement

In its first post-bailout …

Central Bank fails to find replacement for chief economist

Mr Frisell left the Central Bank in March to take up a job with the International Monetary Fund’s Africa training institute in Mauritius.

His post was advertised globally after his resignation was announced in November, with the closing date for applications in early December. advertisement

A spokeswoman for the Central Bank confirmed that the top job has still not been filled. The process remains open and deputy governor Stefan Gerlach …

Taxpayers will not lose money on the bailout of AIB – bank chief

The cash can be repaid, he said, with significant amounts potentially coming back to taxpayers in the next few years,

“(It is) definitely a realist prospect, I think we can make substantial re payments in the years to come,” David Hodgkinson said. advertisement

It’s the most optimistic any senior official has been about the prospects for making a recovery on the €20.8bn rescue of the bank.

The State is already …

Rate of entrepreneur activity highest since economic crisis – report

The annual GEM report also showed that 85pc of businesses surveyed expected to create jobs.

In addition, those who indicated that they are planning to start a small business in the next three years also increased significantly in 2013. advertisement

The report, which measures entrepreneurial activity, and is backed by Enterprise Ireland, Forfas the Department of Enterprise, also showed a narrowing of the gender gap.

There are now 1.4 times …

Rate of entrepreneur activity highest since economic crisis – report

The annual GEM report also showed that 85pc of businesses surveyed expected to create jobs.

In addition, those who indicated that they are planning to start a small business in the next three years also increased significantly in 2013. advertisement

The report, which measures entrepreneurial activity, and is backed by Enterprise Ireland, Forfas the Department of Enterprise, also showed a narrowing of the gender gap.

There are now 1.4 times …

‘Nasty surprise’ unlikely in bank stress tests

It comes as a member of the European Central Bank’s governing council claimed the tests may be too tough.

The ECB will probe the financial health of 128 banks across Europe – including five in Ireland – in the autumn. advertisement

Professor John McHale, chair of the Irish Fiscal Advisory Council (IFAC), insisted it was hard to call as he didn’t have any “insider” knowledge.

But he said: “At this …

KBC Bank may sell Irish unit, has €15bn of loans and mortgages outstanding

The bank is keeping its options open for the unit including a sale – it had €15.1bn of loans and mortgages outstanding at the end of the first quarter of the year.

It is considering “whether to organically grow a profitable bank, build a captive bank-insurance group or sell a profitable bank” it said today. advertisement

KBC Bank also said it intends to accelerate its repayments and to make final …

Liberty Mutual snaps up a Northern insurance firm

He was speaking after the Boston-based insurer yesterday sealed a deal to buy Hughes Insurance, a Northern Ireland-wide provider of motor, small business and home insurance.

The deal, which is expected to close in July 2015, will also gradually see Liberty become the lead underwriter of Hughes Insurance in Northern Ireland. advertisement

“Hughes is a top three player in Northern Ireland and this is part of our drive to become …

Property trust REIT to buy Marker Residences development for €50m

Brehon Capital and Midwest, which is the seller, acquired the residences and retail development in 2011 as part of the mixed-use complex that includes the award winning Marker Hotel for €30m beside Grand Canal Square.

The building comprises 84 luxury apartments completed to exacting standard in addition to 6 fully occupied commercial units at ground floor level, with car parking provision for 113 spaces at basement level. advertisement

Irish Residential …

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