Business News

Tourism and hospitality sector seeks help as losses reach €27m a day

3rd September 2020

The loss of international tourists to Ireland is costing the tourism and hospitality sector €27m a day. That’s according to the Irish Tourism Industry Confederation (ITIC) which says 200,000 jobs are at risk if the Government does not take action to support the industry. “Tourism is facing an existential crisis and Government must listen to […]

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Exchequer deficit climbed to €9.5bn by end of August

3rd September 2020

The public finances recorded a deficit of €9.5bn at the end of August according to the latest Exchequer Returns.  This compares to a deficit of €625m recorded at the same point last year. The €8.8bn deterioration is largely due to increases in government spending.  The increase in spending is concentrated in the departments of Health and Employment Affairs […]

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Service sector recovers at faster pace in August – PMI

3rd September 2020

ctivity in the services sector grew for the second month in a row in August, and at a slightly faster pace despite repeatedly stalled moves to fully reopen the economy.  Ireland has opted for a more cautious exit from its coronovirus lockdown and has paused the fourth and final stage of its plan since July, […]

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Europe dips into deflation amid Covid hit

2nd September 2020

Eurozone inflation turned negative last month for the first time since May 2016, raising chances that the European Central Bank will have to inject yet more stimulus to generate price growth which has undershot its target for over seven years. Annual inflation in the 19 countries sharing the euro fell to minus 0.2pc in August […]

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Europe dips into deflation amid Covid hit

2nd September 2020

Eurozone inflation turned negative last month for the first time since May 2016, raising chances that the European Central Bank will have to inject yet more stimulus to generate price growth which has undershot its target for over seven years. Annual inflation in the 19 countries sharing the euro fell to minus 0.2pc in August […]

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Real-time data indicates recovery slowed in August

2nd September 2020

The pace of the recovery of the Irish economy from Covid-19 restrictions slowed substantially in August. That’s according to stockbroker Davy which said the situation is indicted by real-time data for the month. In a note to investors, chief economist Conall MacCoille said the Government’s decision to delay the phase four re-opening of the economy […]

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Real-time data indicates recovery slowed in August

2nd September 2020

The pace of the recovery of the Irish economy from Covid-19 restrictions slowed substantially in August. That’s according to stockbroker Davy which said the situation is indicted by real-time data for the month. In a note to investors, chief economist Conall MacCoille said the Government’s decision to delay the phase four re-opening of the economy […]

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Revenue confirms 22,000 employers registered for Employment Wage Subsidy Scheme

2nd September 2020

As the new Employment Wage Subsidy Scheme goes live today, the Revenue Commissioners has confirmed that more than 22,100 employers have registered for the scheme.  To qualify for the scheme, employers must have tax clearance showing their taxes are in order. The Revenue Commissioners says there have been more than 16,800 applications for tax clearance since 17 […]

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Revenue confirms 22,000 employers registered for Employment Wage Subsidy Scheme

2nd September 2020

As the new Employment Wage Subsidy Scheme goes live today, the Revenue Commissioners has confirmed that more than 22,100 employers have registered for the scheme.  To qualify for the scheme, employers must have tax clearance showing their taxes are in order. The Revenue Commissioners says there have been more than 16,800 applications for tax clearance since 17 […]

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Certain directors can now claim employment wage subsidy

1st September 2020

Directors that control more than 15pc of a business can now claim the Employment Wage Subsidy Scheme (EWSS). This follows an update from the Minister for Finance, Paschal Donohoe. From tomorrow EWSS will replace the Temporary Wage Subsidy Scheme. The subsidy, which is based on an employees gross weekly wage, can be claimed by directors […]

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