Business News

Motorists will have to provide their driver number to their insurer when taking out a policy from next year. The new measure, which comes into effect on March 31st, will also require the driver numbers of named drivers to be provided. The development follows the signing of a commencement order by the Minister for Transport,…

The value of the food bought outside the home across the island rose 5.2% over the last year, new data from Bord Bia shows. It brought the total turnover in the food service industry in Ireland and Northern Ireland to €9.8bn, the highest level in the sector over the past decade. However, the Irish food…

Advertised rents for homes across the country rose by a further 1.7% between July and September, according to new data from the property listings website Daft.ie. It was the 15th consecutive quarterly rise and brought the average monthly rent sought nationally to €1,955. That represents an increase of 7.2% compared to the same time last…

The Irish Hotels Federation has called on all political parties and candidates in the General Election to commit to policy measures aimed at staving off the commercial crisis facing the wider tourism and hospitality industry – particularly food service businesses. Launching its manifesto, IHF President Michael Magner said an urgent change in direction is now…

More European Central Bank interest rate cuts are coming and the deposit rate could hit the so-called neutral level in the first half of next year, Finnish central bank chief Olli Rehn said today. The ECB has already cut rates three times this year as prices have fallen and further cuts at each of its…

The cost of living continues to be felt among consumers with 72% saying they expect Christmas shopping to be significantly more expensive this year, while 36% expect to spend less compared to last year. Those are the views of respondents to the latest KPMG Next Gen Retail Survey. “Price is still the primary factor influencing…

Total activity in the construction sector fell in October, despite strong growth in housing. The BNP Paribas Real Estate Ireland Construction Total Activity Index rose slightly from 49 in September to 49.4 last month. However, the index was still below the 50 mark which indicates growth. This is the second month in a row in…

New figures from the Central Statistics Office show that the seasonally adjusted Live Register total for October rose by 0.4% to 169,000 people – an increase of 700 people from the previous month. The CSO said that the unadjusted Live Register total stood at 163,766 people for October. Today’s figures show that the 35-44 age…

China’s consumer inflation rate slowed in October, official data showed over the weekend, in a sign that demand remains sluggish in the world’s second biggest economy. The slowdown comes as authorities have been seeking to boost domestic activity as a property crisis weighs on confidence. The consumer price index (CPI), a key measure of inflation,…

EU leaders are meeting for a second day in Budapest to discuss the European economy and its competitiveness, as the continent continues to take stock of Donald Trump’s victory in the US presidential elections. Leaders at the European Political Community summit will hear from Mario Draghi, the former ECB president, whose recent report on competitiveness…