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10/11/2008
40% Off 2007 Peak House Prices, Says Ulster Bank
Forty percent will be wiped off Northern Ireland house prices - from their August 2007 peak - by the end of next year, it has been claimed.
Ulster Bank made the prediction in a recent assessment of the Northern Ireland economy.
The bank predicted the local economy has already fallen into recession, claiming the province would be the worst affected area in the UK during the thrusts of an economic downturn.
According to the Ulster Bank's Quarterly Economic Review, the Northern Ireland economy will contract by 1.5%, creating a sharp rise in unemployment.
Northern Ireland’s high dependency on the public sector will not act as a buffer in the looming financial crisis, as it did in the early 1990s, the bank warned.
Economist with the Ulster Bank, Richard Ramsey, said the province’s large exposure to the construction trade, teamed with a slowdown in public spending, would heighten the gloom for Northern Ireland.
"It is our view that the local economy is already in recession with private sector output having contracted for the past four quarters," said Mr Ramsey.
(PR)
Ulster Bank made the prediction in a recent assessment of the Northern Ireland economy.
The bank predicted the local economy has already fallen into recession, claiming the province would be the worst affected area in the UK during the thrusts of an economic downturn.
According to the Ulster Bank's Quarterly Economic Review, the Northern Ireland economy will contract by 1.5%, creating a sharp rise in unemployment.
Northern Ireland’s high dependency on the public sector will not act as a buffer in the looming financial crisis, as it did in the early 1990s, the bank warned.
Economist with the Ulster Bank, Richard Ramsey, said the province’s large exposure to the construction trade, teamed with a slowdown in public spending, would heighten the gloom for Northern Ireland.
"It is our view that the local economy is already in recession with private sector output having contracted for the past four quarters," said Mr Ramsey.
(PR)
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25 June 2013
New NI Bank Notes In Circulation
New bank notes have been released into circulation in Northern Ireland. The £10 and £20 notes are being issued from Danske Bank and will gradually replace the existing Northern Bank notes. The design of the notes remains the same, the only difference is the Danske Bank logo has replaced the Northern Bank logo.
New NI Bank Notes In Circulation
New bank notes have been released into circulation in Northern Ireland. The £10 and £20 notes are being issued from Danske Bank and will gradually replace the existing Northern Bank notes. The design of the notes remains the same, the only difference is the Danske Bank logo has replaced the Northern Bank logo.
07 January 2005
Consequences ‘dire and grim’ says Robinson
The consequences for Sinn Féin will be “dire and grim” if Chief Constable Hugh Orde confirms IRA involvement in the £22 million Northern Bank robbery last month, said DUP deputy leader Peter Robinson.
Consequences ‘dire and grim’ says Robinson
The consequences for Sinn Féin will be “dire and grim” if Chief Constable Hugh Orde confirms IRA involvement in the £22 million Northern Bank robbery last month, said DUP deputy leader Peter Robinson.
31 July 2012
Northern Bank Makes Gloomy NI Economy Predictions For 2012
Northern Bank has downgraded its 2012 economic forecasts for Northern Ireland, predicting that the economy here will grow by just 0.1% for the rest of the year. The estimate has dropped from 0.3% after a slow few months, with the European debt crisis holding growth back.
Northern Bank Makes Gloomy NI Economy Predictions For 2012
Northern Bank has downgraded its 2012 economic forecasts for Northern Ireland, predicting that the economy here will grow by just 0.1% for the rest of the year. The estimate has dropped from 0.3% after a slow few months, with the European debt crisis holding growth back.
20 June 2013
Ulster Bank Could Be Split In New Review
The Ulster Bank could be split into 'good and bad banks', according to Chancellor George Osborne. Mr Osborne made the comments during his speech at the annual Mansion House address in London on Wednesday night.
Ulster Bank Could Be Split In New Review
The Ulster Bank could be split into 'good and bad banks', according to Chancellor George Osborne. Mr Osborne made the comments during his speech at the annual Mansion House address in London on Wednesday night.
10 May 2012
Northern Bank To Be Rebranded
Danske Bank has announced a new organisational set-up for its operations in Northern Ireland and Ireland. The new structure will take effect on 1 June 2012. The re-organisation mirrors a similar Group wide set-up being introduced in all Danske Bank operations.
Northern Bank To Be Rebranded
Danske Bank has announced a new organisational set-up for its operations in Northern Ireland and Ireland. The new structure will take effect on 1 June 2012. The re-organisation mirrors a similar Group wide set-up being introduced in all Danske Bank operations.
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Northern Ireland WeatherToday:The day will be very windy with strong to gale force westerly winds becoming occasionally severe along the north coast. Sunny spells will be interspersed with scattered showers. Maximum temperature 8 °C.Tonight:West to northwest gale force winds, severe along the north coast, will continue overnight. Frequent showers persist, merging into longer periods of rain at times and turning wintry. Minimum temperature 1 °C.
