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Showing posts with label National Treasury Management Agency. Show all posts
Showing posts with label National Treasury Management Agency. Show all posts

Wednesday, February 20, 2013

Donie's ireland daily news BLOG


Garda Representative Association calls on Garda Commissioner to‘speak out’

   

PJ Stone above right pic. and members of the Garda Representative Association, (GRA) following their meeting with the Garda Commissioner at Garda HQ in the Phoenix Park, Dublin, today.

The biggest organisation representing members of the Garda has called on Garda Commissioner Martin Callinan to speak out publicly about the lack of resources in the force instead of making “baffling” statements that the Government was providing him with all the resources he needed.
The Garda Representative Association (GRA), which represents 11,200 rank and file gardaí, has also said a planned protest action for Friday would go ahead despite its talks with Commissioner Callinan at Garda Headquarters, Phoenix Park , Dublin, today.
GRA general secretary PJ Stone said the talks between his 31-strong national executive and Commissioner Callinan had been “a very serious exchange” of views.
“I’m quite satisfied that some of the information which was given to him today in the strictest of confidence moved him and certainly gave him food for thought,” he said of the meeting arranged so the GRA leaders could outline the hardship their members were facing as a result of reduced remuneration.
“What we pointed out to the Garda Commissioner is that while he is given limited resources, well then that’s what should be said in the public ear when we are talking about resources that’s available. The Government have already left the Commissioner short in this year’s budget for the payment and provision of wages. So it baffles us when we hear then from the Garda Commissioner about the adequate resources that are available to him.”
“I think the Commissioner accepts fully that he has to operate within the budget that’s made available to him. But we also made the point that that budget does not allow for the proper provision of policing services then perhaps that’s what should be said so that people can be aware of it. He said he would reflect on that.”
Mr Stone said the action planned from Friday, when members of the GRA will refuse to use their own personal cars, phones or laptops for official in protest at Government proposals to cut their earnings, would not disrupt policing.
“It is merely intended to show that we’re serious; that there will be an incremental approach to any visit on the pay and conditions of the members of the Garda Siochana. I think it’s very unfair, and I think someone made the point to the commissioner, that we have members who when they retire do not enjoy the same longevity of life as others simply because they are working nights and weekends.
“And it is grossly unfair that in the discussions which are taking place currently, that people are going to reduce those earnings of members and they are hard earned…. they are penalty earnings as opposed to premium earnings.”

10% of HSE workers calling in sick despite ‘clampdown’

  

MINISTER JAMES REILLY SAYS ABSENTEE HEALTH WORKERS FACE INDIVIDUAL INTERVIEWS WITH THEIR MANAGERS.

Minister for Health James Reilly has said workers in the health service who are consistently sick will be brought in one by one for individual interviews with their managers
MORE than one in 10 workers are calling in sick in some parts of the health service despite promises to tackle the excessive scourge.
New figures show the worst hit area for absenteeism is the ambulance service in the north east, where 10.53pc were absent from work over the course of three months.
The rate is three times higher than the Health Service Executive (HSE) target and reveals how measures to crack down on the hugely costly problem are failing.
The sickness findings which are now published by the HSE are more comprehensive and cover a wider range of areas of the health service following the orders by Health Minister James Reilly who wanted a “name and shame” policy to highlight the issue.
The figures cover a span of three months last year which give a wider snapshot of the patterns of absenteeism,
The second highest rate at 8.19pc was in Roscommon County Hospital but was a massive 14.45pc among some of its staff.
In the Midlands ambulance service the absenteeism rate among administration staff hit a spectacular high of 17.91pc, according to the figures supplied by HSE.
The minister told the HSE last year that it needed to call in people who are habitual non-attenders, seek a second medical opinion, and refuse to hire agency staff to replace them so the pressure goes on their colleagues.
Tough
Overall, the HSE was far off reaching its 3.5pc absenteeism target and the rates for six months of last year were worse than the corresponding months in 2010.
The average rate was around 5pc last year and its best month was September when it dropped to 4.62pc, it emerged.
The HSE in the west confirmed last year that it dismissed three people in the past 12 months in response to persistent absenteeism.
And in addition, 104 other staff have been removed from the sick leave scheme
The HSE had promised to get tough on absenteeism and said monthly and quarterly absence reports are sent to each department by the hospital manager.
This is usually accompanied by reminders of their responsibilities to manage absence and request detailed “return to work interviews” from staff involved. Absenteeism in the west has been costing around €60m a year and €284m nationally.
The problem extends beyond hospitals and also affects community health services in areas such as east Limerick, Wicklow, Dublin west, Mayo and Westmeath. The HSE has insisted that tackling absenteeism remained a “key item on hospital management team agendas”.

National Treasury Management Agency to raise €500m in bond sale

    
Ireland is set to return to the bond markets on Thursday with a €500 million auction of treasury bills. It will be the sixth tranche to be sold since the National Treasury Management Agency (NTMA) re-activated the program last summer.
The monthly auction of three-month treasury bills follows a similar deal last month, when the NTMA sold €500 million at an annualised yield of 0.2 per cent.
The deal was significantly over-subscribed, with total bids of €1.894 billion received.
The NTMA has set a total funding target of €10 billion for 2013, as Ireland prepares its exit from the EU-International Monetary Fund bailout programme.
In January, the NTMA successfully sold €2.5 billion in a syndicated tap deal, while expectations are that it may also look to issue a 10-year benchmark deal this year.
However according to Owen Callan, senior analyst with Danske Bank Markets, it is now “increasingly likely” that the NTMA will delay its return to the long-term bond markets, given other factors on the agenda such as a possible sale of Irish Life Assurance and the impending Italian election.
“Waiting a few weeks before issuing is not without justification, even if risk/reward would argue for a more imminent engagement with the bond market,” he said.

Too much TV in childhood linked to long-term antisocial behavior

   
Excessive television viewing during childhood and adolescence was linked to antisocial behavior in adulthood, unrelated to pre-existing antisocial tendencies or other potential confounders.
Although there have been longstanding concerns that extreme childhood exposure to television violence could foster antisocial behavior, observational research has been unable to discriminate whether children with antisocial tendencies are attracted to violent programs or children develop behavioral problems due to viewing television violence.
“Despite the numerous forms of media now available, children and adolescents still use television the most,” Lindsay A. Robertson, MPH, and colleagues from the department of preventive and social medicine at the University of Otago in New Zealand wrote. “New technologies such as on-demand television and digital recording devices offer children and adolescents more opportunities to watch inappropriate programs without supervision from their parents.”
To investigate whether disproportionate television viewing throughout childhood and adolescence was connected with increased antisocial behavior in early adulthood, Robertson and colleagues evaluated a cohort of 1,037 children born in Dunedin, New Zealand, at regular intervals from birth to age 26 years.
The researchers used regression analysis to examine the relationship between television viewing hours from ages 5 to 15 years compared with aggressive personality traits, criminal convictions, violent convictions or diagnosis of antisocial personality disorder in early adulthood.
According to analysis results, young adults who had spent more time watching television during childhood and adolescence were significantly more likely to receive a criminal conviction, a diagnosis of antisocial personality disorder or exhibit aggressive personality traits vs. those who watched less television.
In addition, this relationship was similar for both sexes, suggesting that the association between television viewing and antisocial behavior is similar for male and female viewers.
“More time spent watching television in childhood and adolescence is associated with antisocial behavior in early adulthood. These associations were not explained by pre-existing antisocial behavioral problems, lack of parental control, socioeconomic background, or IQ,” Robertson and colleagues wrote. “We believe that identifying ways to reduce children’s and adolescents’ television viewing should be considered a priority for public health.”

Court convictions secured for poor school attendances

   

A TOTAL OF 30 COURT CONVICTIONS WERE SECURED AGAINST PARENTS IN IRELAND LAST YEAR DUE TO THE POOR SCHOOL ATTENDANCE RECORDS OF THEIR CHILDREN.

Taken by the National Educational Welfare Board – which was set up in 2002 under the Education (Welfare) Act 2000 – these cases illustrate the importance of parents making sure their kids go to school on a regular basis and only miss lessons when there is a valid reason for doing so.
In one instance, the mother of a 15-year-old girl who missed more than 60 per cent of the school days she should have attended over a period of ten weeks pleaded guilty to breaching a school attendance notice, the Irish Times reports.
The case was heard at Limerick District Court and saw the parent’s solicitor requesting the case be adjourned to allow the pupil to make significant improvements in her attendance.
Judge Eugene O’Kelly explained a notable increase in the girl’s attendance could have an influence on the decision of the court and agreed to adjourn the case until April 5th.

Study finds dolphins mimic calls of social group

Dolphins  
Dolphins mimic the unique calls of those they share a strong social bond with, such as offspring
Dolphins mimic the distinct whistles of their closest companions as a way of tracking them, according to researchers.
A team of marine biologists from the University of St Andrews studied the vocal signatures of the mammals.
Their findings suggested that dolphins mimic those they are close to and want to be reunited with.
It was already known that dolphins develop their own individual whistle which describes their identity.
The team of Scottish and American scientists analysed recordings from wild and captive dolphins to identify which animals copy one another’s signature whistle.
Social bonds
The St Andrews researchers, working with scientists at the Walt Disney World Resort in Florida, found the mimicking was only present in mothers and their offspring, as well as in adult males who copied those they had long-term associations with.
This could give us a real insight into how certain traits in language and communication have evolved”
The research involved a group of dolphins in Sarasota Bay, which has been studied since the 1970s. The animals are brought into captivity for medical tests once a year, which allowed the marine biologists to record and study their calls.
Dr Stephanie King, from St Andrews University, said: “Interestingly, this mimicking only occurs in animals who have strong social bonds.
“It also only occurs when they are separated from each other, and this supports the idea that they want to reunite with the other animals.
“The next step is to do some experiments to play back their own calls and whistles to see if they can identify them.”
The study also found that dolphins introduce slight changes into copies, avoiding confusion for the listener.
While vocal mimicking is found in other animals like song birds, the team believes dolphin calls offer an insight into the way complex language structures evolve.
Dr King said: “It is something we see in ourselves, but not in other animals.
“This could give us a real insight into how certain traits in language and communication have evolved.”

Tuesday, January 8, 2013

Donie's news Ireland daily BLOG Monday


Some signs now of a better and renewed banking system developing in Ireland

  Bank of Ireland's flagship branch on College Green: 24 staff at the bank are on salaries of over €400,000 a year, Michael Noonan has said.

The decision by Permanent TSB to increase its consumer lending to €450m in 2013 is one of the most promising developments since the boom ended with the property crash and the drastic fall in house prices.

Of the total, €350m will go towards new mortgages and €100m to car loans and other personal loans. Credit card loans will account for €5m.
The €350m for mortgages may not seem an enormous sum of money. But it is enough to make a big difference to the revival of the property market. It will help to bring some much-needed confidence.
The move could also mark, albeit tentatively, a step in the development of a better Irish banking system.
Before the rise and fall of Anglo Irish Bank, there was speculation about a “third force” to compete with the two giants, AIB and Bank of Ireland. The speculation faded with the crash, when the banks (including Permanent TSB, which received €4bn) had to be bailed out by the taxpayers. Perhaps we can now look forward to a renewed system, which is both sound and competitive.
If this happens, it will enable us to tick off one item on the vast schedule of measures necessary to promote recovery. Another is the plight of small and medium business.
To date, the banks have kept large numbers of small businesses on a sort of life support, unable to expand, probably sinking further into debt and costing the banks – and ultimately the taxpayers – money that they cannot afford and which cannot be recovered.
Obviously this state of affairs is not sustainable, and the banks, under pressure from the Central Bank, are about to start sorting out – or writing off – huge sums in loans now in arrears.
An analysis of €32bn in SME loans in 2011 found that more than one-third were overdue, impaired or on a “watch list”.
Now the Central Bank has initiated a process that offers a solution. It has received “portfolio strategies” from all the major banks based on the necessary information on which to decide which SMEs can be saved, and which cannot.
Many have grown accustomed to their “zombie” position. It must have a stultifying effect on energy and effort, but the alternatives may be stark: examinership or closure.
The situation is complicated by the banks’ relative lack of expertise in lending to small business, and by the fact that it is entangled with the problems associated with property loans. Our years of pain have not ended. But they will be bearable if we believe that the moves now in train can work, and will work.

National Treasury Management Agency Ireland plans to raise money on bonds sale

  

Ireland plans to raise money through a bond sale in the “near future”, which would represent another significant step towards economic and financial rehabilitation following its €67bn bailout more than two years ago.

  The National Treasury Management Agency on Monday said it would increase the size of its existing 2017 bond through a “syndicated tap” of the security.
Ireland last summer raised fresh money for the first time since its November 2010 bailout through a bond exchange but a successful tap would represent another landmark for the country’s recovery.
The yield of the €3.9bn 2017 bond rose 16 basis points to 3.26 per cent, but this is still markedly down from the 5.72 per cent yield when the issue started trading last July, according to Bloomberg data.
Ireland’s benchmark 2020 bond yield edged up to 4.29 per cent but on January 4 hit a low of 4.22 per cent, the lowest since early 2008 and down from a peak of almost 14 per cent in July 2011.
Owen Callan, a strategist at Danske Bank, said in the note that the tap “marks a massive step in Ireland’s long process of fully regaining long-term bond market access and fully normalising its primary market issuance”.
Dublin is expected to try to raise about €10bn this year as it attempts to extricate itself from a eurozone support programme by the end of 2013 and pre-fund money needed for next year’s budget deficit.
Ireland’s return to economic growth and a commitment to get its budget deficit under control since a debilitating banking crisis precipitated a November 2010 bailout has won it praise from fund managers and officials.
While the rest of Europe’s periphery saw economic contractions in the third quarter of last year, Ireland’s 0.2 per cent quarterly expansion was only bested by Germany among the big European economies, Capital Economics noted.
“Ireland’s recent performance remains head and shoulders above those of the other economies in the eurozone’s periphery and many in the core,” Jonathan Loynes, chief European economist at the consultancy and research house, said in a note.
Dublin is also on track to meet the 2012 budget deficit target of 8.6 per cent of gross domestic product after stronger than expected tax receipts
San Francisco-based Franklin Templeton, one of the biggest asset managers in the world, has been particularly impressed by Ireland’s performance and has piled into the Irish bond market over the past year.
By the end of the third quarter of 2012, the US asset manager held at least €8.4bn of Irish bonds, almost a 10th of the entire government bond market.
The NTMA has hired Barclays, Danske Bank, Davy, Royal Bank of Scotland and Société Générale to manage the deal.

Ireland’s pharmacies will lose €5m a year over new driving licences switch-over

 

Irish pharmacies and other digital photograph providers stand to lose up to €5m a year following the switchover to credit-card format driving licences, according to the Irish Pharmacy Union (IPU).

The IPU claims that the introduction of new standardised EU driving licences from January 19 means that local pharmacies and other providers of digital passport and driving licence photographs will be out of pocket.
As part of the changes, the Road Safety Authority (RSA) awarded a tender to a private company to take the photographs exclusively for Irish driving licences.
Credit Card Systems Ireland Ltd will now be the only provider of the required digital photographs that will be scanned on to any new or renewed driving licences and permits this year.
Other EU countries, including the UK, accept passport photos for driving licences taken anywhere as long as they meet certain criteria.
Officials from the RSA could not be reached for comment last night.
However, the IPU said the switch to the standardised licences would cost pharmacies – many of which invested between €5,000 and €8,000 in digital photography equipment.
“While the IPU is not against the introduction of credit card driving licences, we would have serious concerns about the impact of this new policy, not only on members, the vast majority of who supply photographic services, but also the serious inconvenience to the general public, who will no longer have the option of getting their photographs locally for their driving licences,” said IPU vice-chairman Daragh Connolly.

1,500 Irish students are due to get their grant this week according to SUSI spokes-person

  
USI President John Logue

There has been criticism of the City of Dublin VEC, which is administering the new student grant system SUSI, Food boxes made available to students awaiting grants

USI President John Logue talks about delay in paying student grants
The body that administers the third level grant system has said 1,500 more students are due to be paid their money this week.
The City of Dublin VEC, which oversees the Student Universal Support Ireland (SUSI) system, also said that 3,000 students had still not provided their bank details or college registration confirmation, which was delaying their payments.
It comes as the Union of Students in Ireland said that many students were relying on food donations to keep going, while waiting for their maintenance grants.
USI President John Logue said food boxes had been set up in student union offices in college campuses around the country.
Speaking on RTÉ’s the News at One, Jacinta Stewart of the City of Dublin VEC said 27,606 applicants have already been awarded grants.
She said that some of the delay was down to the students themselves.
She said: “Most of them have in fact supplied their bank detail information to us, but there are about 3,000 whom we still have to get.
“But we’ve been making awards right up until the last few days, so some of those are very recent.”
An external review of the new SUSI system is due to be carried out.
Ms Stewart said the City of Dublin VEC would look at everything it was doing:
She said: “Every new process needs to be examined once it’s completed to ensure you can improve delivery.”
Ms Stewart said that from this year, the CAO will provide details of where a student will be attending college and what course they are doing, which will remove the need for confirmation from the colleges.
She also said that SUSI had received 10,000 new applications after the closing date of 31 August.
The USI has said that many third level students are struggling to keep going and food boxes are one way of helping those still waiting on their grants.
Speaking on RTÉ’s Morning Ireland, Mr Logue said the situation was now a crisis.
He said: “These are people who are desperately negotiating over Christmas with their landlords, pleading with them not to evict them from their student housing.
“Food boxes have been set up now in students unions across the country. This is the situation we are at in colleges across the country. This is an absolute crisis.
“I don’t think the minister has fully acknowledged how deep it is, and these people have gone four months without any payment.”
A spokesperson for the Minister for Education has told RTÉ they are extremely concerned about any students facing hardship.
She declined to comment on reports that student unions are assisting some students with food items, but did say that the Higher Education Authority operates a student assistance fund to which students can apply for help.
Last year, 11,000 students accessed the fund.

25% of Irish school children have heart disease risk factors

  

One in four school-going children in Ireland has risk factors for heart disease, according to new research.

The worrying picture emerged as GAA stars lined out to set afitness challenge for teenagers in a bid to get more youngsters to see the benefits of exercise.
Bryan Cullen, All-Ireland winning captain of the Dublin senior football team and Paul Flynn, current GAA football All-Star and Meath senior football captain, believe their devotion to fitness as children has contributed to their playing skills today.
Bryan said: “Sport and fitness has always been part of my life, but I wouldn’t be where I am today unless I had exercised as a child. For me, being active when I was younger contributed enormously to my ability to play Gaelic football at intercounty level today. I am incredibly grateful to the coaches and teachers who placed an emphasis on physical fitness.”
They referred to research findings in the Children’s Sport Participation and Physical Activity Study, showing a quarter of school- going children have poor aerobic fitness levels, weight problems or even high blood pressure.
As part of a drive to get first and second year pupils to improve their fitness they are urging schools to take part in the Aviva Schools’ Fitness Challenge, an initiative developed byDublin City University in conjunction with the Wellness Economic Initiative Alliance.
Secondary schools interested in participating in the national challenge are being encouraged to register online at http://www.avivahealth.ie/fitnesschallenge by Friday January 18 to receive a registration pack with the fitness test audio on CD, and step-by-step guidelines of how to complete the programme successfully.
Speaking at the launch,Kevin Reilly, PE Teacher at Colaiste Na Hinse, Meath VEC, says, “In my view physical education is critically important to the future health of every child, and should be prioritised and viewed as a subject as important as any academic subject like Maths and Science. “

Amitabha Ghosh NASA scientist set for third mission to Mars

 

Amitabha Ghosh, chairman of the science operations working group of NASA Mission Operations at the Exploration Rover Mission, is set to work on a third Mars mission.
The Mission Insight 2015, which Ghosh is now working on, will focus on whether organic compounds are present on Mars. If such compounds are detected, the next step would be a biological mission to determine whether the Martian organic compounds are animate or not.
Speaking at the Indian Science Congress here today, Ghosh said, “Life on Earth is made of carbon and all life is made of organic compounds. The mission will verify if there are organic compounds on Mars.”
Ghosh said it will take around another 10 years to send people to Mars. “When it comes to sending humans to Mars, it’s not a technology issue, What we don’t have is the money. Sure there is tremendous national pride. But can any country spend a trillion dollars to send a single person to Mars? Even if we weren’t in an economic recession, it’s a lot of money!” he added.
Physically too, it’s not possible for a human being to stay in the spacecraft for 90 days, he said.
India will send an unmanned probe to orbit Mars to study its upper atmosphere as well as the “chemical and mineralogical” features of the red planet.