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Wholesale electricity prices continued their decline in August compared to prices last year, according to the latest report published by the Single Electricity Market Operator (SEMO). SEMO operates the wholesale market for electricity on the island of Ireland. Its figures show that, in the year to end of August, the daily average price for wholesale…

The Minister for Finance has said the latest European Central Bank interest rate increase will undoubtedly add pressure to many households who already are carrying the burden of previous interest rate hikes. This afternoon, the ECB lifted its deposit rate to 4% from 3.75%, taking it to an all-time-high. Michael McGrath said the Government will…

The Government has announced plans to introduce changes to how dividend income received from foreign branches of companies with bases in Ireland are taxed here. The reforms, if implemented, will mean qualifying dividend income that is transferred here from a foreign company within a company group will from 2025 be exempt from tax in Ireland.…

The European Central Bank raised interest rates for the 10th meeting in a row today to counter stubborn inflation but signalled that it is likely done tightening policy. The ECB lifted its deposit rate to 4% from 3.75%, taking it to an all-time-high. Markets and economists expect the policy tightening move to be the ECB’s…

One in three people in Ireland now use banking apps from outside of the traditional sector, nearly double the number a year ago, new research has found. The Consumer Banking Sentiment Survey, carried out for the Department of Finance, also found that 82% agree services provided by digital only banks are a good substitute for…

Local Enterprise Offices have launched a campaign encouraging small businesses to avail of supports that will help them save time, money and energy. The “All In A Day’s Work” campaign is focused on highlighting the supports that will enable small businesses to make significant changes to the way they work. The supports include the Lean,…

The European Central Bank’s governing council meets in Frankfurt today to decide if it will continue to increase interest rates as part of its efforts to bring inflation down. Since July last year, the bank has increased rates after nine consecutive meetings. The ECB has put up interest rates by over four percentage points since…

Despite fears of AI replacing jobs in the tech sector, there has been a surge in demand for workers in IT and digital roles, according to the latest ManpowerGroup Employment Outlook Survey. It shows that IT sector hiring demand has climbed by 20% compared to the previous quarter. The survey is based on responses from…

The four main energy companies have been told that they must go further on price cuts, during a meeting with Taoiseach Leo Varadkar and energy minister Eamon Ryan this afternoon. The two ministers met the four largest suppliers – Electric Ireland, SSE Electricity, Bord Gáis and Energia. Price reductions of between 10% and 20% have…

Overall gas demand in August was well down on the same month last year amid mild and changeable weather. According to the latest Gas Demand Statement from Gas Networks Ireland, gas demand in the month was down by a fifth on August of last year and by 2% on July. Gas remained the biggest contributor…