Domestic firms driving economy, holidays at home and living under the tech radar

While foreign multinationals make a valuable contribution, the success of the Irish economy "now depends very heavily on the progress of domestic business", a new study by the ESRI has concluded.

The economy will be under continued pressure for the foreseeable future, the IMF warned in their latest global outlook yesterday, which predicted the coronavirus crisis will have an even bigger negative impact on the global economy than initially thought.

The tourism sector is in the spotlight right now and Barry O'Halloran reports that the Government's air travel task force warned it two weeks ago that an immediate decision was needed on the Republic'stwo-week Covid-19 quarantine.

Peter Hamilton writes that hostel booking company Hostelworld expects net revenues this year to fall by 80 per cent as it set out plans to raise money.

Irish consumers’ rally fuels hopes economic shock will be less than feared

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Ibec warns of mass business closures unless Government acts

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EU leaders to meet in Brussels to break negotiating deadlock

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Monaghan student wins Young Economist of the Year award

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Trying to make the best of it all, Fáilte Ireland will this weekend launch a €2.5 million marketing push using the slogan "Ireland, make a break for it" to persuade more people to book a domestic holiday.

In the midst of the Covid-19 crisis, Tuesday's High Court ruling, that key elements of industrial relations legislation are unconstitutional, could not have come at a worse time for workers . The Connect trade union has warned employers of "war" if they fail to honour agreements on pay and pensions in construction, mechanical and electrical sectors.

On a more positive note, Dominic Coyle writes that pharma company MSD is looking to fill up to 200 roles across its four Irish sites between now and the end of the year.

Google has made changes to its data retention practices in a move aimed at guaranteeing that it only keeps information on new users for a set period, reports Charlie Taylor.

While welcoming the wealth of online performances during lockdown, Karlin Lillington warns that artists need to put a stop to the firehose of 'free' that could undermine their industry.

In our technology coverage, Marie Boran has sage advice and practical tips for anyone seeking to live their life under the ever-encroaching tech radar.

In innovation, Olive Keogh reports on an Irish start-up which has created a high-tech vertical farming system, making weather irrelevant and year-round growing a reality.

The Irish Times has also launched its Innovation Awards for 2020 with applications now invited. The awards will recognise innovations and bright ideas brought to market between January 1st, 2019 and May 30th of this year, across five categories. It's free to enter so check out irishtimes.com/innovationawards

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