Irish low-income families and the unemployed do not have enough money to achieve a basic standard of living, according to a report published today.

Greece’s debt rose to a ratio of 159.1% of  GDP (gross domestic product) in Q3 (the third quarter) of 2011 from 138.8% a year earlier. Ireland’s ratio rose from 88.4% to 104.9%, according to Eurostat, the statistics office of the European Union, on Monday.

Markets news on stocks, currencies and commodities;  Aer Lingus reports rise in January traffic.

Last month we said in an article on Greece’s potential to improve its dismal inward foreign direct investment record, that the World Bank’s ‘Doing Business 2012′ rankings of the ease of doing business in 183 countries, put Greece at 100, behind Yemen and Vietnam and just ahead of Papua New Guinea. This compares with Italy at 87, just behind the former communist ruled Mongolia; Spain is at 44; Portugal at 30 and Ireland at 10. In recent times there has been a focus on how the struggling peripheral economies of the  Eurozone can end decades of underperformance through improving competitiveness and what a focus on innovation could do for Greece, Ireland and Portugal.

Rising tensions between Europe and Iran on oil sanctions pushed wholesale energy prices higher in January, more than offsetting the positive impact of mild weather in Europe during the month, according to the Bord Gáis Energy Index.

Cemex, the Mexican cement and building materials giant, has increased its offer for the remaining stake of Readymix Ireland, which it does not own.

Principal news stories from the Irish Times and Irish Examiner.

Growth in the US services sector accelerated in January to its highest level in nearly a year, according to an industry report issued on Friday. The Institute for Supply Management said its services index rose to 56.8 last month from a revised 53.0 in December. It was the highest level since February 2011.

Total nonfarm US payroll employment rose by 243,000 in January, and the unemployment rate decreased to 8.3% - - the lowest since February 2009, President Obama’s first full month in office - - the US Bureau of Labor Statistics reported today. Jobs growth was widespread in the private sector, with large employment gains in professional and business services, leisure and hospitality, and manufacturing. Government employment changed little over the month.

Markets news on stocks, currencies and commodities; Ryanair warns Aer Lingus on covering €400m deficit in staff pension fund.