Business News

Hospitality businesses in the north west region have said it is becoming almost impossible to make a profit given rising costs in the sector. Garry and Mairead Anderson employ more than 30 people during the summer season in Killybegs at their seafood shack and restaurant overlooks the town’s harbour. “This year, our turnover is up…

Local Property Tax (LPT) is likely to increase next year for the majority of homeowners. Revenue have begun the process of writing to the 1.5 million homeowners in the country, asking them to re-evaluate their property’s value. This re-evaluation will be used to determine the amount of Local Property Tax homeowners will pay for the…

The tech sector has been through a turbulent time is recent years with many companies alternating between hiring sprees and mass layoffs. The industry remains a massive employer in this country with the latest Central Statistics Office data showing that the information and communication sector accounts for almost 180,000 jobs. That figure did fall by…

The survey also reveals that the euro zone remains the top target region for Enterprise Ireland companies, followed by the UK and the US. Enterprise Ireland said that 70% of Technology & Services companies expect exports to increase this year, compared with 60% of Industrial & Lifesciences firms. It also noted that 98% of companies…

New figures from the Society of the Irish Motor Industry (SIMI) show a 73% jump in the registration of new electric cars in September. SIMI said a total of 1,737 new electric cars (battery electric cars) were registered – 73.2% higher than the 1,003 registrations the same month last year. So far this year, a…

Billionaire Elon Musk, the world’s richest person, is nearly halfway to becoming the planet’s first trillionaire, Forbes magazine has reported. The Tesla and SpaceX CEO became the first person to achieve a net worth of $500 billion, briefly, as the shares in his electric vehicle company rebound from his clumsy stint in politics, amid other…

Job turnover at Irish workplaces has surged to a record high, according to a new survey from Microsoft Ireland. The Work Trend Index shows that 38% of respondents said they have moved roles, up from 23% last year and 19% in 2023. The most prominent reasons cited for changing employers included work-life balance, well-being, issues…

Pay-as-you-go energy provider PrepayPower has announced a price freeze for its electricity and gas customers for the winter months. The company said it will not increase prices until March 1 – at the earliest. PrepayPower has 240,000 customer accounts comprising 180,000 electricity and 60,000 gas accounts. Its CEO Cathal Fay said the company has taken…

The domestic economy will grow by 3.2% this year and 2.6% in 2026, according to a forecast by consultancy EY. It estimated that Gross Domestic Product, which includes impact from multinationals, will rise by 9% this year. The GDP figure has partly been driven by exceptionally strong exports as multinationals raced to beat the imposition…

Minister for Transport Darragh O’Brien is expected to seek Cabinet approval tomorrow to legislate for the removal of Dublin Airport’s 32 million a year passenger cap. It is understood that his memorandum to Government is critical of the DAA, which is charged with operating and developing the airport. The Programme for Government contains a commitment…