Business News

Visitor numbers are still down a third on the pre-Covid peak of 1.02 million Irish whiskey distilleries around the island of Ireland attracted 677,000 visitors last year, an increase of 425% on 2021. New figures from the Irish Whiskey Association show that visitor numbers are still down a third on the pre-Covid peak of 1.02…

Euro zone business activity made a surprise return to modest growth in January, adding to signs the downturn in the bloc may not be as deep as feared and that the currency union may escape recession, a survey showed. S&P Global’s flash Composite Purchasing Managers’ Index (PMI), seen as a good gauge of overall economic…

Nobody needs reminding that we’re in the midst of a cost-of-living crunch. With the price of pretty much everything rising, we’re looking for ways to make savings wherever we can, from the weekly shop to the utilities and, perhaps especially, financial products. One area where householders might be tempted to cut corners is on their…

Hairdressers have become the latest group to appeal to the Government to retain the 9% VAT rate, which is due to expire at the end of February. But the sector has gone a step further, by appealing for the rate to be cut further to 5% in order to preserve jobs. ”A failure to support…

New data from Revenue shows more than 370,000 tax returns have been processed for PAYE taxpayers who have filed their returns for last year. This represents a 30% increase on the same period last year. Around three quarters of those, some 275,000, resulted in an overpayment of tax. This has led to €193m in total…

The euro scaled a nine-month high on the dollar today as more hawkish comments on European interest rates contrasted with market pricing for a less aggressive Federal Reserve. The euro reached as far as $1.0903, breaking the recent peak of $1.08875 and opening the way to a spike top from last April at $1.0936. It…

365 jobs have so far been secured as a result of 16 small businesses availing of the expedited restructuring process for viable small firms which need to be rescued financially, according to an analysis by the business advisory firm, Baker Tilly. The Small Company Administrative Rescue Process – known as SCARP – came into operation…

Ireland will avoid recession this year, due to record household savings and the capacity for the Government to provide support with what a report describes as “the best budget position in the euro area”. Stockbroker Goodbody’s chief economist Dermot O’Leary forecasts that modified domestic demand, which is a measure of the economy that strips out…

Research published by the Central Bank today reveals that over one third of households in Ireland have received an inheritance. The accumulated value of these inheritances is estimated to be worth €97 billion. The findings are published in an Economic Letter from the Central Bank and are based on data from the CSO’s Household Finance…

The Taoiseach is attending the World Economic Forum in Davos where he is meeting political leaders and the chief executives of US multinationals. In the Swiss mountain resort, Leo Varadkar has met Intel CEO Pat Gelsinger and Meta’s Nick Clegg, companies with a strong presence in Ireland. The Taoiseach’s visit to Davos in the past…