Brazil, Uruguay move away from US dollar in trade

Brazil and Uruguay have switched to settling bilateral trade with local currency to stimulate turnover, bypassing the US dollar. Payments in the Brazilian real and Uruguayan peso started on Monday. The agreement was signed on November 2 by the head of Brazilian Central Bank Alexandro Tombini and his Uruguayan counterpart Alberto Grana. Both countries believe Read more about Brazil, Uruguay move away from US dollar in trade[…]

Unemployment down to 10.7% in November – CSO

The standardised unemployment rate in November was 10.7 per cent, down from the revised figure of 10.9 per cent in October, new figures from the Central Statistics Office have shown. On a seasonally adjusted basis, the Live Register recorded a monthly decrease of 4,100 in November, reducing the total to 367,100. In unadjusted terms, there Read more about Unemployment down to 10.7% in November – CSO[…]

Oil hits five year low, emerging stocks hammered

(Reuters) – Oil prices fell to their lowest in five years on Monday, hit by slowing factory activity in China and Europe and hammering emerging market stocks and commodity-linkedcurrencies. Plunging prices for oil and other commodities raised fears of deflation, especially in the euro zone and Japan, and the prospect of looser monetary policy pushed the yen to a seven-year low against Read more about Oil hits five year low, emerging stocks hammered[…]

Irish manufacturing continues to expand as orders flood in

Irish manufacturing activity increased for the 18th month in a row in November as exporters saw new orders flood in at the fastest rate in almost four years, a survey showed. The Investec Manufacturing Purchasing Managers’ Index stood at 56.2 in November, down from 56.6 a month earlier but comfortably above the 50 mark that indicates growth Read more about Irish manufacturing continues to expand as orders flood in[…]

Consumers set to spend almost €4bn over Christmas

Irish shops are bracing themselves for their best Christmas since the nadir of the economic collapse, with a new report suggesting consumers are set to spend €4 billion between now and the new year. The upbeat forecast is contained in Retail Ireland’s Christmas Monitor, which tracks key trends across the economy and the retail sector Read more about Consumers set to spend almost €4bn over Christmas[…]

Irish corporate tax system most efficient in Europe, study says

Ireland has the most efficient corporate tax system in Europe with the least red tape, according to a study from PwC and the World Bank. The report found that the effective corporate tax rate in Ireland – the amount of tax paid as a percentage of profits – was 12.4 per cent, close to the Read more about Irish corporate tax system most efficient in Europe, study says[…]

North Korean official visits Russia to discuss trade and political ties

A special envoy of North Korean leader Kim Jong Un left Pyongyang today for Russia to discuss ways to improve trade and political ties. Choe Ryong Hae, a senior official in the ruling Workers’ Party and one of the leader’s close associates, is scheduled to stay in Russia until next Monday. Russia’s foreign ministry has Read more about North Korean official visits Russia to discuss trade and political ties[…]

China says FTA with South Korea may be effective in 2015

(Reuters) – A free trade agreement between China and South Korea should be effective in the second-half of next year if all goes well, a top commerce ministry official said on Monday, ending negotiations that started in 2012. The Chinese and South Korean governments said last week that they had “effectively” reached a free trade agreement that would remove Read more about China says FTA with South Korea may be effective in 2015[…]

Two-thirds of firms plan to hire next year – survey

Two-thirds of Irish firms plan to hire staff next year as a survey of chief financial officers showed increasing optimism about the outlook for Irish business. The RSM Farrell Grant Sparks survey found that 91 per cent of “traditionally cautious” chief financial officers (CFOs) believe their business is in a good position to capitalise on Read more about Two-thirds of firms plan to hire next year – survey[…]

Australia, China deepen ties with landmark free trade deal

Written by Matt Siegel (Reuters) – China and Australia on Monday sealed a landmark free trade agreement more than a decade in the making, significantly expanding ties between the world’s second largest economy and one of Washington’s closest allies in Asia. The deal, which Australia called the best ever between Beijing and a Western country, will open up Chinese markets to Australian farm Read more about Australia, China deepen ties with landmark free trade deal[…]