Business News

The White House has confirmed that the 15% tariff agreed between the European Union and the United States includes pharmaceuticals and semiconductors. There had been some confusion over whether or not the products were covered by the trade deal after President Donald Trump said on Sunday that pharma was not included. European Commission President Ursula…

The tariff deal between the EU and the US will secure, stabilise and grow transatlantic trade and investment relations, the European Commission’s Spokesperson on Trade has said. Olof Gill said both sides are “working very hard” to get the details of the agreement signed. Speaking on RTÉ’s Morning Ireland, he said the 15% tariffs was…

Analysis: With most house owners facing higher property tax bills, a look at the advantages and disadvantages of the tax introduced in 2013 By Gerard Turley, University of Galway The local property tax (LPT) is in the news again. Councillors in Dublin City Council (DCC) recently voted to raise the rate of tax next year,…

While there is still a lot to be ironed out in the trade deal between the European Union and the United States, there’s a decent level of detail that has been announced. The deal ends months of uncertainty and avoids a full-blown trade war between the two blocs. What’s included in the deal? It introduces…

Estate agents who are members of the Society of Chartered Surveyors Ireland (SCSI) expect national property prices to increase by an average of 5% over the next 12 months, a dip from the 6% forecast in January. According to the latest SCSI Residential Mid-Year Market Monitor, more than half of agents believe the key factor…

Energy company Flogas is to increase its variable electricity charges by around 7%, with effect from 25 August. Flogas said this marks its first price increase in three years and comes after a 15% reduction in its electricity rates last year. The company said its residential natural gas customers are unaffected by the price hike.…

The framework trade agreement which the United States and the European Union signed yesterday is worse than the trade deal that the United Kingdom reached with the US earlier, Hungarian Prime Minister Viktor Orbán has said. The deal imposes a 15% import tariff on most EU goods – half the threatened rate. The US and…

Consumer sentiment fell to a near two-year low in July as concerns about the cost of living and tariffs on European Union exports to the US weighed, a survey showed today. The Credit Union Consumer Sentiment Survey slipped to 59.1 in July from 62.5 in June, nearing April’s two-year low of 58.7. The reading is…

The European Central Bank left interest rates unchanged today after cutting eight times in a year, biding its time while Brussels and Washington negotiate over trade. The ECB cut its policy rate to 2% last month, halving it from 4% a year earlier, after taming a surge in prices that followed the end of the…

The Department of Finance has confirmed the cost of reducing the 13.5% VAT rate to 9% for the hospitality sector would be €867.7m in a full year. In documents published today it broke the cost down to €134.9m for accommodation, €674.6m for food and catering, €19.8m for entertainment and €38.4m for hairdressing. The Tax Strategy…