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Wednesday, 3rd February 2016

The ISI welcomes the commencement of provisions contained within the 2015 Bankruptcy (Amendment) Act by the Minister for Justice and Equality, Ms. Frances Fitzgerald, T.D. These changes came into effect on 29 January 2016.

The new provisions:

- Reduce the bankruptcy term from 3 years to 1 year.

- Reduce the income payment period from 5 years to 3 years.

- Provide for the re-vesting of family homes in debtors, where the Official Assignee has not issued proceedings for the sale of the property within 3 years of the adjudication of bankruptcy.

- Widen the powers of the Official Assignee to disclaim assets in bankruptcy estates which have no value to the estate, yet may involve a burden on the estate.

- Extend the discharge period in bankruptcies up to 8 years and up to 15 years; depending on the seriousness found by the Court of

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Wednesday, 3rd February 2016

The Department of the Environment, Community and Local Government, in conjunction with (i) the Southern Regional Assembly, and (ii) the Northern and Western Regional Assembly, recently announced the proposed local authority capital projects around Ireland that have been approved for ERDF (European Regional Development Fund) grants for sustainable urban development under the Designated Urban Centres Grants Scheme 2014 – 2020.

Funding under the Scheme will enable project investments in Irish urban centres of the order of €127 million over the period to 2020 of which €40 million will be funded from the ERDF with matching funding from the relevant local authorities.

Waterford will receive €4,000,000 under the grant scheme for the public realm regeneration of Waterford City urban core to project to create a high amenity, and high quality durable public realm .

This ERDF co-funded grants scheme seeks specifically to increase the number

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Wednesday, 3rd February 2016

John Smiles

Qualified Financial Advisor

What is an Investment Fund?

An investment fund is an investment vehicle that allows a large number of people to pool their money together in order to invest in a range of different securities. The most common assets invested in are stocks [equities], bonds, property or commodities.

By pooling their money together, smaller investors get the benefit of professional asset management and access to the considerable research backing all the investment decisions in the fund. They will get that at a much cheaper cost than having to purchase all the assets individually and they will save on dealing costs and stockbroker fees, etc. They also get the benefit of diversification because a single fund will typically invest in about 400 individual stocks in different sectors of the economy and in different countries and continents.

All funds will have different objectives;

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Wednesday, 3rd February 2016

The price of the average three-bed semi detached house in Waterford has risen by 2.48% to €155,000 in the last three months, a nationwide property survey has found.

The REA Average House Price Survey concentrates on the sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the property market in towns and cities countrywide to the end of the selling season in December.

REA agents in Waterford are predicting that prices will rise 10% in 2016, after a 10.71% rise in the price of the average three bed semi in 2015.

"There was a noticeable increase in activity particularly in the three-bed starter home market over the last quarter," said Eamonn Spratt from REA Spratt in Dungarvan.

"This is a combination of lack of supply and prospective purchasers reading positive commentary in national media. We have not noticed

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Wednesday, 27th January 2016

The Restaurants Association of Ireland has criticised the ban of alcohol sales on Good Friday, saying that the law is unacceptable at such a busy time for the tourism, restaurant and hospitality industry. Chief Executive of the Restaurants Association of Ireland, Adrian Cummins said that the law is not only affecting our tourism brand abroad, but business internally as well.

"This law affects more than just the diners who want a drink, it affects thousands of restaurant employees on a busy weekend when restaurants simply won't open. It is unacceptable to have this archaic ban in place on religious grounds, especially in the multi-cultural and multi-religious society that Ireland has become.

Aside from the law showing a 19th-Century image of Ireland to incoming tourists, many restaurants decide to close their doors on Good Friday.

Between 1916 centenary celebrations and an international soccer friendly

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Wednesday, 27th January 2016

Passage East Ferry Company, one of Ireland's most

established domestic ferry services, is for sale with a prospectus issued to potential buyers, it was announced last week.

The company operates the car ferry between Passage East in Co Waterford and Ballyhack in Co Wexford, and includes a 28-vehicle ferry and a commercial premises with offices, stores and a storage yard covering 242mÇ at Barrack Street, Passage East, Co Waterford.

Along with 28 vehicles, the ferry can carry up to130 passengers, connecting Waterford City with the Hook Peninsula in Wexford and operates throughout the year - seven days a week - making an average of 106 sailings per day, increasing to 112 during the summer months.

The company accounts show consistently strong revenue levels over the past five years, with turnover in

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Wednesday, 27th January 2016

John Smiles

Qualified Financial Advisor

How does currency affect investment returns?

If you are a Euro based investor, you need to be aware of how the movement of other currencies in which you invest will appreciate and depreciate against the Euro.

Most of the world's stock markets are denominated in other currencies such as the US Dollar, Pound Sterling and increasingly, Emerging Markets currencies are becoming more important. Currencies are very volatile and can rise and fall sharply and regularly and without warning. Euro based equity investors need to invest in many of these other markets in order to properly diversify their equity portfolios and also to seek better growth opportunities than what is available in the Eurozone. By purchasing equities an investor is taking on investment risk which is the risk the price of the shares will rise or fall.

However, when that investor

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Wednesday, 27th January 2016

An Agriculture commentator and Dairy farmer from Waterford Michael Flynn has said that Teagasc Profit monitor figures are not showing the true income in farming because they are not costing the farmers own labour input.

Mr. Flynn said Teagasc recent figures showing an 11% drop in income for 2015 is not showing a cost farmers own work is wrong. He claims that many farmers are working well in excess of 80 hours per week on average and that should be put in at the average hourly rate paid to the industrial worker to make a real comparison to other sectors.

By excluding a cost for the farmers own labour they are showing false figures to those young people who will spend big and get themselves into the position of being unable to repay big debt levels on their farms. Government need to

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Wednesday, 27th January 2016

The Port of Waterford Company has announced increases across all categories shipped in to and out of the port at Belview in 2015.

There was a 10% increase in tonnage of bulk cargoes in 2015 compared to 2014. The number of containers handled was up by three per cent on the previous year while total throughput at the port grew by eight per cent to 1.58m tonnes. In all, 415 cargo vessels arrived at the port in 2015, up 3.75% on 2014.

In addition, the port welcomed 16 cruise ships during 2015, providing a further positive economic spin-off for Waterford and the wider southeast. A 50% increase in the number of cruise passengers visiting Waterford is expected this year when 12,000 are due to visit on 17 luxury liners.

Commenting on the 2015 figures, Frank Ronan - CEO at the Port of Waterford

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Wednesday, 27th January 2016

William Quinlan Auctioneers introduces to the market a wonderful period home located in The Scotch Quay area of Waterford city. Having been recently refurbished to a high standard, the current owner has left the finishing touches to the new owner, giving them an opportunity to put their own stamp on the home.

Works carried out include the building of a sun lounge, complete re-wiring, complete re-plumbing, new uPVC framed double glazed windows and doors throughout.

Accommodation boasts 4 bedrooms, living room and kitchen/dining area, family bathroom and guest W.C

Viewing is highly recommended for this property as it is not expected to stay on the market for long.

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Letters to the Editor

  • Letter to the editor

    People of the South East show “absolute disgust” for MinisterHarris’ decision re UHW Cardiac CareDear Minister Harris,The people of the south east came out in their thousands in the pouring rain on the 24/09/16 to show you their absolute disgust at your decision to deny them the much needed, long awaited and long promised second cath lab at UHW Waterford. It was stated on RTE News 2 weeks ago that your decision not to do so was based "on the expert opinion of an independent clinician". We al …

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