Category: Business News

Oil prices rose today, supported by optimism that potential US interest rate cuts will boost economic activity and fuel consumption though concerns over slower global demand curbed gains. Brent crude futures rose 19 cents, or 0.24%, to $79.95 a barrel by 0625 GMT, recovering some of the previous day’s losses. US West Texas Intermediate crude […]

Read More… from Oil prices up on hopes of US rate cuts boosting fuel demand

Residential property prices rose by 8.6% nationally in the year to the end of June, new data from the Central Statistics Office shows. It is the highest rate of property price inflation recorded since October 2022. The monthly rate of increase continued to accelerate, with prices rising by 0.7% in June compared to 0.4% in […]

Read More… from Residential property prices rise 8.6% over year to June – CSO

€250m has been allocated to a new round of the Government’s Seed and Venture Capital Scheme. The fund will run for four years from 2025 and will be administered by Enterprise Ireland. Its aim is to provide funding to early-stage Irish companies. “Access to finance through the Enterprise Ireland administered Seed and Venture Capital Scheme […]

Read More… from €250m allocated to new round of Seed and Venture Capital Scheme

Oil prices dipped today after five straight sessions of gains as OPEC’s move to cut its forecast for demand growth in 2024 tempered fears of supply risks posed by widening conflict in the Middle East. Benchmark Brent crude futures were down 98 cents, or 1.2%, at $81.32 a barrel as of 1323 GMT. US West […]

Read More… from Oil prices pause after five-day winning streak

New electric car sales dropped 24% between January and July when compared to the same period last year, new data shows. The figures from the Central Statistics Office reveal that 12,765 new EVs were licensed during the seven month period. 14% of all new cars licensed for the first time were electric, compared with 18% […]

Read More… from New EV sales fall 24% in first seven months of 2024

Estate agents expect property prices nationally to increase by an average of 4.5% over the next 12 months. That is up from an expectation of growth in prices of 1% in 2024 in a previous study carried out in January. The surveys were conducted by the Society of Chartered Surveyors Ireland – SCSI – among […]

Read More… from Property prices on course for 4.5% growth – estate agents

Oil prices edged lower today, breaking a five-day streak of gains, as markets refocused on concerns about demand after OPEC on Monday cut its forecast for demand growth in 2024 due to softer expectations in China. Global benchmark Brent crude futures fell 57 cents, or 0.7%, to $81.73 a barrel at 0630 GMT. US West […]

Read More… from Oil retreats as markets refocus on demand concerns

Spending in July jumped 7% on the previous month and 4% on the same time last year, new data from AIB shows. Spend in hotels was up 7% month-on-month, with spend highest among the 35 to 44 year old age group. A surge in cinema spend was driven by cooler than average weather in July. […]

Read More… from Hotel and cinema trips drive higher spending in July

The National Asset Management Agency paid out around €1.5 million last year in redundancy and garden leave payments as it continued to wind down its operations. The State’s bad bank said it had paid €1.1 million in redundancy to 16 different people, with payments ranging in size from less than €25,000 to up to €150,000. […]

Read More… from NAMA pays €1.1m in redundancy as it winds down operations

There are renewed signs of momentum in the construction sector, the latest Purchasing Managers’ Index from BNP Paribas Real Estate Ireland indicates. Although activity in the sector registered at just below the 50 break-even point separating expansion from contraction in the month of July, there were encouraging signs in the report. The survey captured a […]

Read More… from Stabilisation in construction activity; signs of momentum ahead