Business News

28,786 housing units in large developments await An Bord Pleanála permission

There are 28,786 proposed units in a series of large housing and apartment developments currently awaiting a planning permission decision from An Bord Pleanála, according to a new analysis. The Annual Construction Sector Report from consultants Mitchell McDermott found 59% of the applications before An Bord Pleanála for Strategic Housing Developments (SHD) last year did

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Almost 30,000 new home completions in 2022 – CSO

The number of new dwellings completed in 2022 reached 29,851, according to new figures from the Central Statistics Office today. The CSO said this represents an increase of 45.2% on the numbers completed in 2021 and an increase of 41.3% on the numbers completed in 2019 – pre-pandemic. A total of 9,166 apartments were completed

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Warning of unsustainable mortgages due to rising rates

The Central Bank faced strong criticism from some TDs at the Oireachtas Finance Committee yesterday over the higher mortgage rates being paid by customers whose loans were sold to investment funds. Some people are being charged rates as high as 7%. Financial adviser Padraic Kissane explained that there was a level of non-performing loans in

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Irish film industry hopes Oscar nods will drive further investment

Buoyed by the number of Oscar nominations for Irish films and actors ahead of this year’s awards, the industry is hoping the international spotlight will drive further investment in the sector. The nomination of An Cailín Ciúin in the International Film category is seen as further vindication of the Cine4 initiative, to develop and produce

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Consumer sentiment hits seven month high in January

Irish consumer confidence hit a seven month high in January, according to the latest Credit Union Consumer Sentiment index. The data suggests that consumers had a less negative view of the economic and financial circumstances of households heading into 2023. The index reached 55.2, up from 48.7 in December, and its strongest level since last

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75 ‘ghost estates’ still in place across Ireland

A total of 75 so-called “ghost estates” still exist across Ireland more than 15 years after the Celtic Tiger economic and property crash. New figures obtained by RTÉ show that despite the issue falling off the public and political agenda in recent years, it continues to be a daily problem for hundreds of people living

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677,000 visitors to Irish whiskey distilleries in 2022

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

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Recent market rally prompted by improved outlook

Europe’s main stock markets were little changed at the open today, failing to mirror strong overnight gains in Tokyo and on Wall Street. Stock markets have notched up some decent gains in recent weeks as the economic outlook appears to have improved dramatically on the back of China’s economic reopening after strict Covid-19 lockdowns and

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Euro zone January business activity returns to growth – PMI

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

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Under-insurance leaving thousands of householders exposed

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

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