Archive for July 2022
PIAB reports €118m drop in value of personal injuries awards in last two years
There were also major cuts in overall claims costs as a result of a reduction of 18% in the number of personal injuries claims made to PIAB last year. This follows a reduction in 2020 of 16% and an overall drop in claims volumes in the last two years of 31% The decreased volume in…
Read MoreChanges to work permits system planned
The Government is to make changes to the employment permits system amid growing demand for workers from outside the European Economic Area. A new law will be published in the autumn, which is designed to make the permits system more flexible and better able to respond to evolving labour market needs. A seasonal employment permit…
Read MoreBord Gáis Energy reports 74% rise in operating profits in first six months of 2022
Bord Gáis Energy saw its adjusted operating profits rise by 74% in the first half of the year, as its parent company Centrica also reported a massive jump in earnings. The Irish utility had an adjusted profit of £33m (€39.5m) in the first six months of 2022, compared to a profit of £19m (€22.7m) in…
Read MoreResidential building activity picks up by close to a fifth in first half – GeoDirectory
The construction of residential buildings picked up quite substantially in the first half of the year, according to GeoDirectory in its latest Residential Buildings Report. 22,390 residential buildings were under construction in June which represents an increase of over 18% on the same time last year. Construction was constrained in the first half of 2021…
Read MoreNo levy due on construction sector over defective apartments – Report
A report on defective apartments built during the boom years will not recommend a levy on the construction sector to help the State meet the bill for repairs. The independent review, commissioned by Minister for Housing, Darragh O’Brien last year, says an industry levy would target those who did not cause the defects, would face…
Read MoreSlowdown may already be under way in domestic economy – Ibec
A slowdown may already be under way in certain sectors of the domestic economy, according to Ibec. In its latest economic quarterly outlook, the business group says shifts in global capital markets and ongoing increases in commodity prices – especially energy – are undermining the recovery seen in the first half of the year. “Leading…
Read MoreEU to seek cuts in heating, cooling of buildings to save gas
The European Commission is expected next week to ask EU countries to reduce heating and cooling of public buildings and offices to cut demand for gas. This is according to a document seen by AFP. In order to better withstand the drastic fall in Russian gas supplies, which could be cut off altogether, the commission…
Read MoreCost of data breaches hits record high
The global average cost of a data breach has hit a record high of $4.35 million, an increase of almost 13% over the last two years. The annual ‘Cost of a Data Breach Report’ from IBM Security also reveals that it is often consumers who have to pay the price of cybercrime with 60% of…
Read MoreIMF cuts global growth forecasts, warns high inflation threatens recession
The International Monetary Fund cut global growth forecasts again today, warning that downside risks from high inflation and the Ukraine war were materialising and could push the world economy to the brink of recession if left unchecked. Global real GDP growth will slow to 3.2% in 2022 from a forecast of 3.6% issued in April,…
Read MoreSwitching activity drives mortgage approvals in June – BPFI
The latest figures from the Banking & Payments Federation on the mortgage market point to a substantial increase in mortgage switching activity in recent months. The volume of approvals in this category was up over 150% year on year in June to 1,789 mortgages, the BPFI calculates. Boosted by this increased switching activity, the number…
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