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Household debt shrinks by 3.7pc

HOUSEHOLDS are paying down their debts to the banks and saving marginally more, new figures show. The total credit to households outstanding on the balance sheets of the main banks was down 1.5pc in the first quarter of 2013, or 3.7pc in the year to the end of March.

Figures from the Central Bank show that the total credit outstanding stood at just over €100bn at the end of March. The total amount of loans outstanding to private households, including loans that have been securitised and continue to be serviced by resident credit institutions, stood at €141.8bn at the end of the first quarter, while loans for house purchases were down 1.9pc in the year to the end of March.


GERRY Fahy and Jeremy Godfrey have been appointed as commissioners at the Commission for Communications Regulation (ComReg), the body responsible for regulating the telecoms industry.

They will join Kevin O'Brien, bringing the organisation to its full complement of three commissioners. Mr Fahy has worked in the Irish industry since 1980, holding senior positions with Eircom, Eircell, Vodafone and as a telecommunications consultant. Mr Godfrey has almost 30 years' experience in telecoms, IT and public policy.


Over 150 delegates representing the world's leading airline and travel companies met in Dublin yesterday for travel software Datalex's seventh annual travel industry conference, also taking place today.

"From pricing products and services to delivering better shopping experiences in an ever connected world, we will discuss how to better target retail offers to meet the specific tastes of the individual traveller," said Datalex boss Aidan Brogan.


Some 20 firms set up an online trading platform in just 10 days as part of an initiative run by business support body Inventorium and the Irish Internet Association.

The 'Clicktailing' programme assisted recent graduates, craftspeople and retailers with product photography, the setting up of online payment systems, logistics advice and marketing skills – all for free. "Statistics show that 140,000 Irish businesses still don't engage in any type of e-commerce and developing this business channel will be vital in Ireland's economic recovery drive," said Irish Internet Association chief executive Joan Mulvihill.

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