News Tag: Ireland
December 17, 2009
Official figures have today revealed that Ireland’s economy grew by 0.3% in the third quarter compared with the previous quarter and has therefore exited recession.
The economy has been one of the worst performers in the western world this year but has now emerged from what was one of Europe's worst recessions.
However, despite the positive growth in the third quarter, economists have warned ...
Ireland emerges from recession
by Kay Murchie
November 4, 2009
For the first time in two years, Ireland’s unemployment rate fell in October to 12.5%, down from 12.6% the previous month.
The fall in the rate came as a surprise to many analysts as the economy has been hit by a severe slump within the construction industry, which has led to a significant amount of job losses.
The last time the unemployment rate ...
Ireland’s unemployment rate falls to 12.5%
by Kay Murchie
October 12, 2009
The Organisation for Economic Co-operation and Development (OECD) has today revealed that the unemployment rate in its member countries has crept up from 8.5% in July to 8.6% in August, up from 6.3% in August 2008.
The OECD, which includes 30 territories such as the US, Australia, Japan, Canada, New Zealand and European countries, is forecasting that the jobless rate could ...
Unemployment rate in OECD countries reaches 8.6%
by Kay Murchie
October 7, 2009
An ethical banking expert claimed this week that the mainstream banking sector has failed to show sufficient remorse for its role in the financial crisis.
Charles Middleton, chief executive of the UK branch of ethical bank Triodos, said bank leaders have yet to take responsibility for their wrongdoings.
Speaking ahead of a conference on ethical finance in Dublin, Middleton said he understands the ...
Bankers lambasted as unrepentant over crisis
by David Masters
July 2, 2009
Figures from the US Labor Department have revealed that the unemployment rate in the US rose from 9.4% in May to 9.5% in June.
While the rate of 9.5% was slightly lower than had been expected - it is still the highest since August 1983 with a total of 14.7 million people unemployed in June in the world‘s largest economy. ...
US unemployment rate hits 26-year high of 9.5%
by Kay Murchie
Euro zone unemployment rate hits 10-year high of 9.5%
by Kay Murchie
June 8, 2009
AXA Travel Insurance is to offer travel insurance to passengers of low-cost airline Ryanair following an agreement between the two companies.
Under the terms of the deal, starting September 2010, AXA will offer Ryanair's 67 million passengers single-trip, multi-trip and annual travel insurance policies on ryanair.com.
Michael Cawley of Ryanair said the partnership with AXA will provide passengers with a “competitively priced, tailor-made travel insurance ...
AXA secures Ryanair partnership
by David Masters
Ireland’s credit rating cut again
by Kay Murchie
April 7, 2009
Ireland’s Government has now unveiled details of its second budget as the country’s budget deficit spirals out of control.
Finance Minister, Brian Lenihan, said the country faces a “very grave national crisis” after the country’s deficit nears 13% of GDP - quadruple the level allowed by the European Union.
The emergency budget includes a hefty increase in taxes and spending cuts, with Mr Lenihan ...
Ireland’s emergency budget unveiled
by Kay Murchie
Ireland set to announce emergency budget
by Kay Murchie
April 1, 2009
Ireland, which was the first country in the euro zone to enter recession, has experienced a sharp rise in unemployment.
New figures released by the Central Statistics Office (CSO) revealed that the number of people claiming jobseeker’s allowance surged by 87.5% in the 12 months to March.
According to the CSO, the number of people seeking jobless benefits rose by 173,279 to a record ...
Ireland sees surge in unemployment
by Kay Murchie
March 31, 2009
Rating agency, Standard & Poor’s (S&P) has downgraded Ireland’s credit rating from AAA to AA+ and has put the Irish Republic on a "negative" outlook, meaning that further downgrades are possible.
The downgrade could drive investors away since it will mean Irish businesses will have to pay more to borrow on the international markets.
The country has experienced a boom since ...
Ireland’s credit rating downgraded amid debt fears
by Kay Murchie
February 4, 2009
Figures from the Central Statistics Office (CSO) have revealed that the number claiming unemployment benefit in Ireland reached the highest monthly level on record in January.
The CSO said 326,100 people made unemployment claims in January, up from 293,100 in December.
Meanwhile, the CSO said the unemployment rate increased to 9.2% in January compared with a rate of 8.3% in December.
January’s rate ...
Irish January jobless claims reach record high
by Kay Murchie
December 22, 2008
The Irish Government has confirmed it is to provide €5.5billion (£5.12 billion) to the country's three biggest banks.
The three struggling banks, which are the Bank of Ireland, AIB (Allied Irish Bank), and Anglo-Irish, are to receive the funds in return for shares.
Anglo-Irish is set to receive €1.5 billion in return for 75% shares with an annual fixed ...
Irish Government steps in to assist country’s largest banks
by Kay Murchie
December 15, 2008
The Irish Government is to make available a fund of €10 billion (£9 billion) to recapitalise its largest banks in a bid to ensure the long-term sustainability of the banking sector in Ireland.
The money will be available to AIB, Anglo-Irish, Irish Nationwide, Irish Life & Permanent and Bank of Ireland, which owns the Bristol & West ...
Irish Government in €10 billion bailout for country’s largest banks
by Kay Murchie
September 25, 2008
According to the Central Statistics Office, Ireland has become the first country in the Euro zone to fall into recession, after the economy contracted for a second consecutive quarter.
A country is considered to be in recession when it experiences two consecutive quarters of declining economic output.
The official figures revealed gross domestic product (GDP) had contracted by ...
Ireland is first country in Euro zone to enter recession
by Kay Murchie
