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MY | MONEY NEWS
The Irish League of Credit Unions is calling on the Government to make changes that would allow the sector to finance social housing and a National Retrofitting Plan for up to half a million older homes. It is among a number of proposals being put forward by the league, which represents 226 member credit unions across the country. The ILCU accuses successive governments of having failed to work with credit unions to better utilise their assets and 'unlock their potential to give back to communities'. | There was a near 11% reduction in the volume of goods passing through Dublin Port in the first six months of this year, according to figures from the Dublin Port Company. Overall port tonnage was 10.9% lower than in the same six month period last year. A first quarter decline of almost 5% - which was attributed to 'Brexit stockpiling' in the first three months of 2019 - was followed by a steeper decline of 17% in the second quarter as the pandemic impacted the economy. | Dalata Hotel Group has agreed an amendment to the group's debt facilities agreement, which would give it greater access to liquidity in a worst case scenario. The company has now reopened 42 of its hotels in the Republic of Ireland, Northern Ireland and England to the public. Two final hotels, the Clayton Hotel Cardiff and the Maldron Hotel Belfast International Airport are expected to reopen on 11 July and 1 August respectively. | The outbreak of the coronavirus at meat plants will be under scrutiny when the Oireachtas Special Committee on Covid-19 Response meets today. The meeting, which is scheduled for noon, will also be attended by representatives of the meat industry and a group representing migrant workers. Since the start of the pandemic, 1,115 cases of the virus were confirmed in 20 clusters at meat and poultry plants, but there have been no new cases since the middle of last month. | Japan's economy will shrink at the fastest pace in decades in the year through March 2021, forcing the government to compile another stimulus package to cushion the blow from the Covid-19 pandemic, according to a Reuters poll. Many respondents predicted the Bank of Japan's next policy step would be to expand stimulus, but they do not see the pandemic triggering a banking sector crisis this year. | China's aviation industry sank further into the red, losing 34.25 billion yuan in the second quarter, only slightly narrower than in the first quarter, underlining the colossal financial impact from the Covid-19 pandemic. In the first quarter the industry, which includes airlines, airports and other aviation companies, lost 38.1 billion yuan, according to data released by the Civil Aviation Administration of China. |||