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62% of credit unions offer payment holidays amid Covid-19 crisis

6th July 2020

62% of credit unions have introduced payment holidays as a result of the Covid-19 crisis, a new survey of credit union CEOs and managers across the country shows. The survey also found that the three most in-demand services for credit unions have been the rescheduling of loans, the provision of bespoke services to cocooning members […]

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Irish services sector sees partial recovery in June

3rd July 2020

There was a partial recovery in the country’s services sector in June, according to AIB in its latest purchasing managers index. The business activity index rose to 39.7 from 23.4 in May, a level consistent with ongoing weak activity in the sector. The index measures activity on a scale of 1 to 100 with the […]

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Number of insolvencies down 12% as Covid-19 impact not fully materialised

3rd July 2020

There was a reduction in the number of company insolvencies in the first six months of this year, according to new figures from Deloitte. Today’s figures suggests that the impact of Covid-19 has not fully materialised.  Deloittes said there were 273 company insolvencies between January and the end of June, a reduction of 12% on […]

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Central Bank warns economy could shrink by up to 14%

3rd July 2020

The Central Bank has said the economy could shrink this year by up to 14%, while it has also warned that unemployment could average as high as 17% this year.  In its latest Quarterly Bulletin, the Central Bank also highlighted the risks to the economy of a no-deal Brexit.  The Central Bank has said there is […]

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NAMA completes transfer of €2 billion to Exchequer

2nd July 2020

The National Asset Management Agency has completed its transfer of €2 billion to the Exchequer.   The sum represents half the expected surplus from NAMA’s operations. The agency made the announcement at the publication of its annual report today.  The expected balance of an additional €2 billion will be paid over the next two years. […]

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NTMA due to hold two bond auctions in third quarter

2nd July 2020

The National Treasury Manangement Agency said today it plans to hold two bond auctions in the third quarter of this year. The NTMA said it will hold bond auctions on July 9 and September 10. The agency is also planning three Treasury Bill sales and these are pencilled in for July 16, August 20 and […]

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EU reopens to outside visitors in bid to save tourism

2nd July 2020

The European Union has reopened its borders to visitors from 15 countries, but excluded the United States where deaths are rising again and a top health official warned the country was heading in the “wrong direction”. The final list of nations safe enough to allow residents to enter the EU did not include Russia, Brazil or […]

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EU reopens to outside visitors in bid to save tourism

2nd July 2020

The European Union has reopened its borders to visitors from 15 countries, but excluded the United States where deaths are rising again and a top health official warned the country was heading in the “wrong direction”. The final list of nations safe enough to allow residents to enter the EU did not include Russia, Brazil or […]

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Covid-19 committee hears SMEs call for more Govt funding to survive

1st July 2020

The Oireachtas Special Committee on Covid-19 Response has heard calls for more help for small and medium businesses affected by the pandemic. The Chair of SME Recovery Ireland, John Moran, told politicians that small and medium businesses across Ireland are dying and need more funding to help them to survive. In his opening statement, Mr Moran called […]

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Covid-19 committee hears SMEs call for more Govt funding to survive

1st July 2020

The Oireachtas Special Committee on Covid-19 Response has heard calls for more help for small and medium businesses affected by the pandemic. The Chair of SME Recovery Ireland, John Moran, told politicians that small and medium businesses across Ireland are dying and need more funding to help them to survive. In his opening statement, Mr Moran called […]

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