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US was country’s biggest export market in 2018

11th December 2019

New figures from the Central Statistics Office show that Ireland exported a total €141 billion of goods in 2018 and imported €92 billion worth of goods.  The country exported over €39 billion of goods to the US in 2018 – its largest export market. It also imported €17 billion from the US last year.  The […]

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US trade offensive takes out WTO as global referee

11th December 2019

US disruption of the global economic order has reached a major milestone as the World Trade Organization (WTO) loses its ability to intervene in trade wars. This threatens the future of the Geneva-based body. Two years after starting to block appointments, the US will finally paralyse the WTO’s Appellate Body, which acts as the supreme court […]

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34,000 new homes needed every year for next decade – Central Bank

11th December 2019

A study from the Central Bank has found that 34,000 new dwellings will be needed each year for the next decade to keep up with demand.   The demand for housing comes from a natural increase in the population and more people coming to live in the country.  At the peak of the boom in […]

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Housing construction activity sees first slowdown since 2013

10th December 2019

Activity in the construction sector declined for the third month in a row, the latest Purchasing Managers’ Index from Ulster Bank shows. Ulster Bank’s Construction PMI showed a reading of 48.2 in November, up from 46.2 in October. Any figure under 50 signals contraction in the industry.  The November slowdown included a decline in activity […]

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New car sales speed up by 1.8% in November – CSO

10th December 2019

The number of new private cars licensed for the first time rose by 1.8% in November, new figures from the Central Statistics Office show.  The CSO said that a total of 1,676 new private cars were licensed for the first time, up from 1,647 the same month last year. Meanwhile, a total of 9,874 used […]

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NTMA says it will borrow less next year

10th December 2019

The National Treasury Management Agency said it plans to borrow between €10 billion and €14 billion in 2020, down from a target range of €14-18 billion last year. The NTMA said a pre-funding strategy had given it a projected cash balance in excess of €15 billion. It said this gives it “significant flexibility” entering 2020 […]

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Euro zone growth curbed by trade, retail sales slowdown

9th December 2019

The euro zone economy grew at a modest pace in the third quarter with a negative impact from trade, while retail sales fell at their sharpest rate this year in October, data showed today.  Gross domestic product (GDP) in the euro zone was up 0.2% in the three months from July to September. This was the […]

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Republic likely to be in firing line as EU to consider tougher tax haven listing

9th December 2019

A group of European Union countries is calling for the bloc to cast a wider net when listing tax havens and to consider imposing stricter sanctions for countries facilitating tax avoidance, according to an EU document and an EU official. The move is likely to spark some fear in Government circles. The document, prepared by the Danish […]

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Changes to flat-rate expense regime pushed out to 2021

9th December 2019

Changes to the flat-rate expenses regime have been pushed out to 2021 as the State’s tax collector awaits results of a review by the Department of Finance. Flat-rate expenses are those that cover the cost of equipment you need for work and Revenue had planned to change how the scheme works Following parliamentary pressure, Revenue has […]

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EU agrees steps towards tighter money-laundering supervision

6th December 2019

European Union finance ministers today backed plans for greater powers to combat money laundering after a series of revelations about large amounts of dirty money flowing through European banks. The EU last year experienced its largest money-laundering scandal when it emerged that €200 billion in suspicious payments were made between 2007 and 2015 through Danske […]

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