Business News

It is “conceivable” that the European Central Bank will cut interest rates by 25 basis points at its next rate-setting meeting this month but not more, ECB policymaker Robert Holzmann said in a newspaper interview published today. Investors expect the ECB to cut interest rates at every one of its upcoming meetings at least until…

Activity in the services sector increased last month as inflationary pressures eased, new data shows. The latest AIB Purchasing Managers’ Index shows that activity expanded at its fastest pace since April 2023. The index rose sharply to 58.3 in November, from 53.8 in October. Readings above 50 indicate overall growth in activity. The data shows…

Passenger numbers at Dublin Airport in November were 3% higher than the same month last year, with numbers at Cork Airport up 5%. Airport operator daa said that last month was the busiest ever November for both Cork and Dublin Airports as the two airports saw almost 2.5 million passengers pass through their terminals in…

It will be possible to hold virtual or hybrid AGMs and other general meetings of companies and societies as a result of the signing of an order commencing new legislation from today. The Companies (Corporate Governance, Enforcement and Regulatory Provisions) Act 2024 will also give more powers to the Corporate Enforcement Authority (CEA). It will…

The number of new mortgages approved in October was up 8.6% on the previous month. In total 4,829 new mortgages got the green light, up 13% compared to the same month last year. The latest Banking and Payments Federation Ireland (BPFI) data shows almost two thirds of the total were for first time buyers. “In…

Dublin has been ranked in 43rd place in an annual assessment of the quality of living standards of cities globally. This was down one place on last year’s 42nd position. The Mercer 2024 Quality of Living city ranking also placed the capital in 26th position out of 38 western European cities. This was also a…

Euro zone inflation accelerated in November and its most closely watched components remained high, data showed today, adding to the case for a more cautious European Central Bank interest rate cut next month. Consumer price inflation in the 20 countries sharing the euro stood at 2.3% in November, according to the data from Eurostat. That…

The European Central Bank should make future monetary policy decisions based on upcoming risk rather than the latest economic data, ECB chief economist Philip Lane told the Financial Times in an interview published today. “Once the disinflation process (is) completed, then I think monetary policy needs to be essentially forward-looking, and to be scanning the…

The country’s manufacturing sector saw a slight downturn in November, with a survey today showing a contraction in activity as new orders weakened. The latest AIB Ireland Manufacturing PMI fell to 49.9 from 51.5 in October. A PMI reading above 50 indicates growth, while below that level signals a contraction. This marks the third time…

Consumer prices rose by 0.5% in the year to November compared to 0.1% in October – the highest level in three months – a flash estimate of the Harmonised Index of Consumer Prices (HICP) from the Central Statistics Office shows today. Recent sharp falls had put inflation among the lowest in the euro zone last…