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Dublin: 19 °C Tuesday 29 July, 2014

Economy - Today’s News

Government deficit drops to 5.6% of GDP

That’s down from 7.9% this time last year.

Record tourism season predicted after 10% boost in visits

We owe our cousins in the UK a big thank you…

From TheJournal.ie Customers in ‘a no-win situation’ with electricity levy PSO

Customers in ‘a no-win situation’ with electricity levy

The CER has announced an increase in the Public Service Obligation levy.

Economy - Yesterday’s News

ESB: It doesn’t make financial sense to sell these two peat plants

The West Offaly Power Station and Lough Ree Power Station will be retained by the ESB.

Central Bank revises GDP forecast upwards

They also revised upwards last year’s figures.

Russia ordered to pay Yukos shareholders $50 billion for violating international law

It was unanimously held that Russian authorities forced Yukos into bankruptcy.

Up to 100 jobs to be created by Dublin-based IT company

Version 1 is to be backed by a government investment fund.

Economy - Sunday 27 July, 2014

Elbow and coffee conferences to bring €11m to Dublin

Fáilte Ireland said four major conferences have been secured over the next 12 months which will mean some serious revenue for the capital.

Economy - Saturday 26 July, 2014

From TheJournal.ie Angela Merkel’s ‘Dr No’ makes Ireland’s search for a bank debt deal much harder Nope Nope Nope

Angela Merkel’s ‘Dr No’ makes Ireland’s search for a bank debt deal much harder

Analysis: Dr Joachim Pfeiffer’s visit to Dublin this week was not a pleasant one for Enda Kenny.

Aaron McKenna: Massive state intervention in house building? Welcome back to 2007

In the normal course of things, Nama would be wound down and consigned to the history books…

Economy - Friday 25 July, 2014

IMF cuts 2014 global growth forecast

Russia was likely to see its economy brought to the brink of recession but the IMF has now slashed the country’s growth forecast.

From TheJournal.ie Merkel ally: I told Enda Kenny that Ireland has no chance of a bank debt deal Nope Nope Nope
From TheJournal.ie Shops could STILL be codding customers with mislabelled fish Something Fishy

Shops could STILL be codding customers with mislabelled fish

Preliminary results have shown that white fish is being mislabelled as different species.

Banks ‘fail’ to identify risk of awarding bonuses for higher sales

The Central Bank has asked all firms to review their guidelines by the start of next year.

Economy - Thursday 24 July, 2014

Danske Bank reports surge in net profit

Net profits for the first half of 2014 show a increase of 88% on the same period last year.

House prices in Dublin are up almost 25 per cent in the last 12 months

House prices in the capital are up 24.4 per cent, compared to a year ago,

You’d need the Cusack Stand to hold all of Dublin’s millionaires

One in 40 people in the capital is a millionaire apparently.

From TheJournal.ie “It’s tough against faceless power on that level” – cultural groups fight losing battle with Nama Culture War

“It’s tough against faceless power on that level” – cultural groups fight losing battle with Nama

Office development in The Docklands could force out a blossoming cultural scene that took hold during the downturn.

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Economy - Wednesday 23 July, 2014

From TheJournal.ie Sorry Michael: Spending watchdog still thinks Noonan should cut €2bn in the budget MacGill

Sorry Michael: Spending watchdog still thinks Noonan should cut €2bn in the budget

Economic figures warned Michael Noonan that the hard slog is not over at the MacGill Summer School tonight.

From TheJournal.ie ‘Appalling’ state of sub-prime mortgages in firing line Sub-prime Numbers

‘Appalling’ state of sub-prime mortgages in firing line

One in four home repossessions since 2012 relates to sub-prime properties, new figures show

Economy - Tuesday 22 July, 2014

From TheJournal.ie The average Irish saver has over €20,000 on deposit Cash Down

The average Irish saver has over €20,000 on deposit

Despite large sums in the bank, many depositors aren’t earning a lot through interest.

From TheJournal.ie Do strong coffee sales mean the economy is getting better? Perking Up

Do strong coffee sales mean the economy is getting better?

Retail Excellence Ireland says that hot beverage sales are an indicator of a stronger employment market.

From TheJournal.ie 60 jobs announced in Cork and Portlaoise Jobswatch

60 jobs announced in Cork and Portlaoise

The jobs are IDA backed and come in the IT and telecoms sector.

Economy - Monday 21 July, 2014

From TheJournal.ie Consumer rights on ‘vulture fund’ mortgage books to be beefed up Regulation Stations

Consumer rights on ‘vulture fund’ mortgage books to be beefed up

The Government is pushing legislation to put the new owners of Irish loan books on a shorter leash.

Economy - Sunday 20 July, 2014

TD hits out at two-tier economy as Donegal misses out on “fair crack of the investment” IDA

TD hits out at two-tier economy as Donegal misses out on “fair crack of the investment”

Fianna Fáil’s Charlie McConalogue has hit out at unfair treatment for regional counties.

From TheJournal.ie A fate worse than debt: tackling Ireland’s insolvency problem Debt Mountain

A fate worse than debt: tackling Ireland’s insolvency problem

This week the Insolvency Service was branded “pathetic” – the director admits performance is disappointing, but can it be turned around?

Economy - Saturday 19 July, 2014

From TheJournal.ie How much did trade missions cost Ireland in 2013? Mission Profitable

Economy - Friday 18 July, 2014

Revenue collects €310m in property tax and household charge payments

The compliance rates for local property tax payments this year is 94%.

From TheJournal.ie How many Nama debtors have gone bankrupt so far? To The Wall

How many Nama debtors have gone bankrupt so far?

The vast majority of the bankruptcies have been in the UK.

Economy - Thursday 17 July, 2014

From TheJournal.ie Property investors still love us – but there could be competition from Spain Commercial Property

Property investors still love us – but there could be competition from Spain

The Irish property feeding frenzy is still the most active in Europe, but Spain is heating up.

From TheJournal.ie Irish competitiveness on the slide, warns council Competition Time

Irish competitiveness on the slide, warns council

We’re at risk of losing many of the gains made in recent years, the competitiveness watchdog has said.

From TheJournal.ie ‘No evidence’ that disproportionately high number of migrants receive social welfare Jobseekers

‘No evidence’ that disproportionately high number of migrants receive social welfare

A new study has found that the number in receipt of these payments are just a little or below the number in the work force.

From TheJournal.ie Nama’s transformation from the world’s biggest landowner to Ireland’s biggest landlord Explainer

Nama’s transformation from the world’s biggest landowner to Ireland’s biggest landlord

Nama has taken on a host of new objectives – it looks like a sensible move now, but will it work out?

Economy - Wednesday 16 July, 2014

From TheJournal.ie Warning over interest-only mortgage time bomb Peaked Interest

Warning over interest-only mortgage time bomb

Almost half of interest-only mortgages will switch to higher payments over the coming months, prompting concerns about mass arrears

From TheJournal.ie Pathway to ‘Dublin’s Canary Wharf’: Nama’s €3 billion property play New Departure

Pathway to ‘Dublin’s Canary Wharf’: Nama’s €3 billion property play

Developers who had lands transferred to the State’s bad bank could end up developing sites in the Docklands.

Economy - Tuesday 15 July, 2014

From TheJournal.ie ‘Pathetic’ Insolvency Service ‘not fit for purpose’ – IMHO Debt Deals

‘Pathetic’ Insolvency Service ‘not fit for purpose’ – IMHO

The ISI has defended the low level of debt deals, but is under attack over the pace of its work.

Economy - Monday 14 July, 2014

From TheJournal.ie Are you saving for your kids’ college education? Scrimp And Save

Are you saving for your kids’ college education?

New research says that just 55% of parents are.

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