Opening Bell: Ireland's renting culture, oil prices surge, 50 new tech jobs for Cork

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1 in 5 people are now living in rental accommodation in this country.

But the latest figures from the Residential Tenancies Board also show that prices are continuing to rise.

Rents went up by 8.6 per cent between July and September, compared to the same time last year.

Yesterday, Fianna Fail said it would give the Government a month to come up with strong rent certainty measures.

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It's feared fuel prices will go up after the world's largest group of oil exporters agreed to cut production.

The deal will see OPEC's member countries reduce the number of barrels produced by 1.2 million a day from January.

It's the first time they've struck a deal to reduce output in eight years.

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50 new jobs have been announced for a business applications company in Cork.

Teamwork.com is opening its new headquarters in Cork city.

The cloud-based business management applications firm is set to be the first company to provide each developer with their own office.

Teamwork.com says the new recruits will increase its workforce to 120 by the end of 2017.

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Ireland is to get over €330m from the EU for research and innovation.

Higher Education Institutes will receive €198m, companies €104m, and SMEs will get €74m.

The funding - which will last up to the end of September - is an increase of 85 million on the previous funding.

It's part of Horizon 2020 - the EU's €75bn euro programme for research and innovation.

Ireland is aiming to secure €1.25bn of this fund by 2020.