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UN Sec-Gen calls for more taxes on oil and gas companies; Confidence in Irish service sector rises

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Confidence in the Irish service sector rose to a three month high in July, according to the latest AIB purchasing managers’ index. Companies reported seeing a sharp rise in new business as confidence rose, driven by hopes of a continued economic upturn. Inflationary pressured remained high but had declined slightly. Those increased costs continue to be reflected in prices the companies are charging, the survey said.

The National Treasury Management Agency (NTMA) announced the cancellation the treasury bill sale planned for August 18 due to the country's strong fiscal position. The public finances recorded a surplus of €5 billion at the end of July, according to figures from the Department of Finance, compared to a deficit of €5.7 billion in the same period last year.