Business News

Dublin Port’s trade with Europe spikes as Brexit takes toll on UK

20th January 2020

Volumes through the country’s busiest port indicate a shift from the UK to a growing trade with the continent. Figures from Dublin Port show volumes to Britain fell by 0.2pc last year, while volumes on services to continental Europe grew 10.7pc. Dublin Port trade volumes hit another record in 2019. The port, whose traffic was […]

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Car sales in Europe get late-year boost helped by incentives

20th January 2020

Europe emerged as a bright spot for the embattled global car industry after car sales jumped to a record in December, but it could be short-lived. The “exceptional” gain in Europe last month was fuelled by a 28% increase in France and a more than doubling in Sweden, where governments changed emissions-based taxes on new […]

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Soaring gold price leads to a refining boom

20th January 2020

In a refinery just outside Uganda’s main airport, workers slip bars of freshly refined gold into clear plastic bags sealed with a sticker of the national flag — black, yellow and red — and the label “Ugandan’s Treasure.” Uganda produces little gold of its own. Alain Goetz, who set up the refinery, says that by […]

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Housing costs push 2019 inflation rate up to 0.9% – CSO

17th January 2020

New Central Statistics Office figures show the rate of inflation almost doubled in 2019 compared to 2018 with housing, water, electricity, gas and other fuels showing the biggest price increases since 2015. Consumer prices rose by 0.9% in 2019, after increasing by 0.5% in 2018 and by 0.4% in 2017.  The CSO said that during […]

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Central Bank announces consumer and investor protection priorities for 2020

17th January 2020

The Central Bank has said that the protection of borrowers in mortgage arrears will continue to be a key priority for it during 2020. Derville Rowland, Director General, Financial Conduct at the Central Bank, said the bank will closely monitor the treatment of borrowers in arrears and take follow-up supervisory actions as required.  “As part […]

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Dow, S&P 500 at record highs after US-China trade deal

17th January 2020

The Dow Jones and S&P 500 rose to record highs on Wall Street last night following a volatile session marked the signing of the long-awaited US-China trade agreement.  The Dow Jones gained 0.3% to finish at 29,030 and the broad-based S&P 500 added 0.2% to 3,289. Analysts said the choppy trading session reflected worries about […]

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State may exit US currency blacklist

16th January 2020

The United States may remove Ireland from its list of potential currency manipulators next year after the State’s current account surplus turned to a deficit in 2019. The US Department of the Treasury updated its guidance this week. While the main decision was to remove China from the blacklist, the State was also among those […]

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Residential property prices rise by 1.4% in November

16th January 2020

Residential property prices posted annual growth of 1.4% in November, the fastest growth in three months, new figures from the Central Statistics Office show. The increase of 1.4% in November is down sharply from growth of 7.2% a year ago, the CSO said. House prices have stabilised over the last year having shot up for […]

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UK inflation hits more than three-year low, raising pressure on Bank of England

16th January 2020

UK inflation sank unexpectedly to a more than three-year low in December as hotels slashed prices, ramping up expectations that the Bank of England will cut interest rates as soon as this month.  Consumer prices rose by 1.3% in annual terms compared with 1.5% in November, the smallest increase since November 2016, the Office for […]

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UK consumers banned from using credit cards to gamble

15th January 2020

Gamblers in the UK will no longer be able to use their credit cards to place bets online after a major shake-up of rules announced by the industry regulator. From 14 April, people wanting to place bets online will have to do so by using either a debit card or through cash deposited into an […]

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