Business News

Ireland is one of 22 EU member states who are failing to comply with EU rules on professional qualifications, according to the European Commission. The Commission has opened infringement procedures by sending formal letters of notice to the countries. The rules are designed to make it easier for professionals to provide their services on a…

Fuel prices increased again this month, the latest AA Ireland Fuel Survey reveals. Petrol prices rose by a cent to an average of €1.74 per litre, while diesel prices increased by three cents this month to €1.71 per litre. AA Ireland noted that crude oil prices remain steady month on month at around $73 a…

Just a tiny fraction of the €3.26 billion in fines levied by the Data Protection Commission (DPC) over the past five years has been collected. The DPC said that of all fines issued between 2020 and the end of October this year, only €19.9m of the total has been paid so far. The total amount…

Over 1,000 jobs have been saved through the Small Company Administrative Rescue Process (SCARP) since it was launched three years ago, new figures show. The scheme aims to facilitate simplified out-of-court debt restructuring for small businesses deemed to be viable. A process adviser is appointed under the scheme to prepare a rescue plan and to…

An Post expects to receive around 350,000 parcels from the UK over the next 24 hours after Holyhead Port’s closure caused a backlog. It said it has the “facilities, technology and staff” across its hubs to deliver the parcels to homes and businesses around Ireland. Ferry sailings between Ireland and Wales were cancelled due to…

New figures from the Central Statistics Office show that consumer prices rose by 1% in November compared to the same time last year. This marked an increase from the annual rate of inflation of 0.7% in the 12 months to October. The CSO said the biggest increases in the 12 months to November were seen…

The European Central Bank cut interest rates for the fourth time this year today, by quarter of a percentage point, and kept the door open to more as growth is hit by political instability at home and the threat of a fresh US trade war. The ECB has been easing policy as inflation worries largely…

Demand for green talent in Ireland grew by over 22.1% last year, well above the global average of 11.6%, according to research. The latest Labour Market Pulse published by IDA Ireland in collaboration with Microsoft and LinkedIn shows that demand for green skills in Ireland grew at twice the rate of the rest of the…

Interest rates are expected to be cut by 0.25% by the European Central Bank today. If a reduction is announced it would immediately benefit tracker mortgage customers. The cut will reduce rates from 3.25% to 3% in the eurozone. It would be the bank’s fourth decrease so far this year. The move is in response…

Irish property prices are overvalued by 8% to 10%, according to the Economic and Social Research Institute (ESRI) in its latest Quarterly Economic Commentary. The organisation analysed the value of houses and apartments taking into account prices, disposable incomes, interest rates, the supply of housing and the ratio of population in the key house purchasing…