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400 direct provision residents to be moved out of Hotel Killarney

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By Michelle Crean and Sean Moriarty

Up to 400 direct provision residents have been given formal notice to leave their accommodation in Hotel Killarney later this month.

The move is being made as the hotel returns back to tourist accommodation for the summer season but it's believed that up to 20 families with children who are settled in schools in the town may have to leave the county if no alternative local accommodation is found.

The residents received letters from the Department of Children, Equality, Disability, Integration and Youth (DCEDIY) this week.

The department also confirmed to the Killarney Advertiser that "intensive efforts are being undertaken" by staff in DCEDIY "to source emergency accommodation".

"However, procuring enough bed space to keep pace with incoming arrivals remains extremely challenging, leading to very significant shortages. The residents themselves will be the first to know where they are moving to and IPAS will work closely with the residents to minimise the disruption," a spokesperson told the Killarney Advertiser.

The arrival and stay at the hotel was not without controversy. Ukrainians fleeing the war in their home country were previously housed in Hotel Killarney but last October were given just 48 hours to pack up and leave the county after being told they'd be transferred to Westport, County Mayo.

After a public local outcry, the decision to move them from Kerry was reversed and Ukrainians were housed in various hotels across the town.

International Protection Applicants were then moved in and on New Year’s day five men were stabbed in the hotel, four of them requiring hospital treatment. Four people were arrested and some of them were moved to other direct provision centres in an effort to restore peace at the hotel.

The issue was also up for discussion at Wednesday’s Killarney Municipal District meeting by Cllr John O’Donoghue.

“I will choose my words very carefully as again I realise this is a sensitive issue,” he said.

“The upcoming tourist season is almost upon us and there are people living in hotels within our town who know their current accommodation will not be available before long, yet they have not been provided with alternative lodging. Many of these people have already experienced huge upheaval in their lives and arrived here as displaced people seeking refuge. With my education hat on, I see the positive contribution being made by many of our new arrivals in places like our schools, but many now do not know if they will now be forced to move to new schools and begin the process of integrating all over again. For schools planning for next year, they are also being left in limbo as they cannot be sure how many pupils they will have for the coming school year. I am not laying the blame for this uncertainty at the door of the Council, as they are not in charge of such matters, rather it is the lack of any form of long term planning or direction from the Government and Government agencies that is the problem and I would like us to seek clarity immediately. The current situation is grossly unfair on all parties involved.

"The Council has not been advised of any specific plans by Government to seek alternative accommodation for those currently residing in hotel accommodation,” a Council official said.

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Killarney to feature on TG4’s Country Music show

By Sean Moriarty A song about Killarney – once made famous by local Country Music hero Dermot Moriarty – will feature on TG4 tomorrow night (Tuesday). The second series of […]

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By Sean Moriarty

A song about Killarney – once made famous by local Country Music hero Dermot Moriarty – will feature on TG4 tomorrow night (Tuesday).

The second series of the Irish channel’s County Music show ‘Viva Ceol Tire’, which highlights emerging Country Music talent in Ireland, airs every Tuesday night at 9.30pm.

The next programme will feature Donegal singer David James’ version of ‘Oh Killarney’.

The programme was filmed entirely on location in Killarney including Torc Waterfall, Ladies View Moll’s Gap and Kate Kearney’s Cottage.

“The song was written by Dennis Allen. However, it was a hit for Dermot Moriarty in the 1980s. The first time I heard it I loved it and I was thrilled with the reaction my version has got,” James, who is from the small village of Killean in Donegal, told the Killarney Advertiser.

“It’s pretty rural but I love it. I’ll be in Country Music 10 years this May. My first gig was in the local GAA hall for my aunt’s 50th birthday. I was 14 and I’ve been at it ever since.”

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Five questions to ask yourself before buying a stock

By Michael O’Connor, theislandinvestor.com When it comes to investing, nothing is certain. There are no perfect stocks to buy because there’s no way of predicting the future with 100% accuracy. […]

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By Michael O’Connor, theislandinvestor.com

When it comes to investing, nothing is certain.

There are no perfect stocks to buy because there’s no way of predicting the future with 100% accuracy.

The truth is, investing is hard, and building a portfolio of top stocks that beat the market is something that even financial professionals have trouble doing consistently.

For most people, investing in index funds is the perfect hands-off approach, providing broad exposure to the stock market at a very low fee. Even my own personal portfolio is made up of roughly 70% ETFs despite the fact I invest in the market for a living.

But I believe some stock picking is a good strategy for many hands-on people.

Taking a small portion of your overall portfolio and diligently selecting a small number of companies to invest in gives you an opportunity to learn about the investing process and fully understand the businesses you are investing in, which helps to build conviction in your positions.

From a psychological standpoint “collector’s instinct” kicks in, enabling people to participate and invest more money over time.

Lastly, for Irish investors, there are tax benefits to consider. If you invest in individual stocks, you are taxed at the CGT rate of 33%, and the first €1,270 of your gains are exempt from CGT each year. When investing in index funds or ETFs, you are taxed at the exit tax rate of 41% with no annual exemption.

For those interested in picking individual stocks, here are five questions you should ask yourself before investing in any company.

Do I understand the business?

Too many people invest in businesses they don’t understand because it ‘sounds good’. If you have no idea how the company works, you won’t have the conviction needed to hold onto the stock when an inevitable downturn comes.

Can the balance sheet withstand severe, temporary adversity?

This seems obvious, but so many people invest in companies without understanding how much money a company holds and who they owe money to. Economic cycles are guaranteed. You must ensure that the company has enough cash-on-hand to avoid becoming obsolete when activity slows.

Will the company benefit from long-term trends?

Make sure the company will remain relevant into the future. If the stock is cheap now, it may be cheap for a reason.

Is the company enjoying profitable growth?

Not growth at all costs, but a combination of sustainable growth and value. All this information can be found online at sites like stratosphere.io.

What are the risk factors?

Is the company trying something new and untested? If yes, who are its competitors and how successful are they? If other players are more established, this company may have a tough time breaking into the market.

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