Canada: Positive news reports, 27-30 November 2009

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30 November 2009

From 27-30 November 2009 positive stories for Canada were reported from several news sources, including reports from The Canadian Press, Bloomberg News, Financial Post, The Globe and Mail, Agence France Presse, Canwest News Service, CBC News, Toronto Star, and The Vancouver Sun. It is a joy for Global Good News service to feature this news, which indicates the success of the life-supporting programmes Maharishi has designed to bring fulfillment to every field: education, government, business, culture, and science.

Good news report from Canada, 30 November 2009

The Canadian Press - Gross domestic product sees first gain in a year in third quarter (30 November 2009)

Statistics Canada reported Canada's gross domestic product expanded at an annualized rate of 0.4 per cent in the third quarter, the first overall growth in a year. Final domestic demand advanced 1.2 per cent, as capital investment and personal spending both increased. Consumer spending on goods and services, one of the pillars of Canadian economic health, was up 0.8 per cent, the biggest increase since the fourth quarter of 2007 as households increased spending on durable goods 2.4 per cent. (Business investment in machinery and equipment grew 5.9 per cent after five quarters of declines—more than 25 per cent at an annualized rate, its biggest increase since 1997.)

Government investment in buildings and engineering projects grew by 5.6 per cent. Export and import volumes both increased, suggesting that industrial activity is picking up. (Exports grew 3.6 per cent, the first increase since the second quarter of 2007. Imports grew 8.0 per cent, after four quarters of decline.) The output of service industries rose 0.6 per cent, led by the wholesale and retail sectors and real-estate agents and brokers. ' . . . the third quarter ended on a strong note with a healthy GDP gain in September, and that does give us hope that we'll see much better growth for the fourth quarter,' said Avery Shenfeld, chief economist at CIBC World Markets.

Real GDP (adjusted for inflation) was up 0.4 per cent in September, as most major industrial sectors increased production. (Goods-producing industries expanded 0.9 per cent in the month, the first increase since July 2008. The services-producing industries continued to grow—0.3 per cent—on retail strength in particular.) 'This sets the table for a much better fourth quarter, where we are looking for an advance of just over a 3 per cent annual rate,' said Douglas Porter, deputy chief ecnomist at BMO Capital Markets. 'With the solid hand-off from the sturdy September result and mounting signs that the U.S. recovery is taking root, look for much more convincing evidence that the recession is over in fourth-quarter GDP results,' Porter said. And TD Securities economics strategist Millan Mulraine suggested that the fourth quarter could launch a 'significant pickup' of about three per cent. There was further optimism in a November survey conducted by the Canadian Manufacturers and Exporters, which showed strength in both orders and a hopeful outlook on future employment.

The survey found that 63 per cent of respondents said manufacturing orders were either the same or higher in value compared to August. On the jobs front, 79 per cent of respondents said they planned to either hold employment steady or hire new workers over the next three months, showing that some expect further momentum in their growth.

From a Bloomberg News report on this:

'There is reason to be optimistic that growth will build for the fourth quarter,' said Paul Ferley, assistant chief economist at Royal Bank of Canada in Toronto, citing the gain in domestic spending.

From a Financial Post report on this:

Dawn Desjardins, assistant chief economist at RBC Capital Markets, wrote in a report: 'The rise in September GDP sets the stage for a much stronger increase in the fourth quarter. With Canada's housing market heating up in October and the U.S. economy emerging from recession, we look for Canada to post a solid 3.4 per cent annualized gain in real GDP in the fourth quarter.'

From The Globe and Mail report on this:

In September, the economy expanded 0.4 per cent for the best showing in 14 months. BMO Nesbitt Burns economist Michael Gregory noted that the domestic economy was 'literally firing on all cylinders.'

Financial Post - TSX wraps up best month since April (30 November 2009)

The Toronto Stock Exchange ended its best month since April on Monday. The TSX composite index closed November at 11447.20, up 4.9% for the month. It is the eighth month in the past nine that the country's top benchmark has advanced.

Canwest News Service on Commonwealth nations declare support for binding climate-change agreement (27 November 2009)

Canada will contribute to a new Commonwealth fund to help lesser-developed countries cope with climate change and develop their economies with greener technology. The fund plan calls for developed countries in the 53-nation group (representing two billion people) to spend US$10 billion a year by 2012. The fund was announced at a Commonwealth leaders' summit in Trinidad and Tobago dominated by climate change ahead of December's United Nations global summit on climate-change in Copenhagen, Denmark, that 90 world leaders, including Prime Minister Harper, will attend. Australian Prime Minister Kevin Rudd, UN Secretary General Ban Ki-moon, Danish Prime Minister Lars Rasmussen and Commonwealth Secretary General Kamalesh Sharma released a 'Commonwealth Climate Change Declaration' to the media that they claim has moved world leaders closer to a legally binding agreement to cut greenhouse gases. Adopting a more positive tone on the Copenhagen summit than in previous statements, Prime Minister Harper said the Commonwealth climate-change statement contains 'all the elements' for an international accord. 'The expectation is, at this point, that we will reach a meaningful political-framework agreement in Copenhagen that can lead in the very near future to a binding international legal agreement,' Harper said.

From a Toronto Star report on this:

'We believe an internationally legally binding agreement is essential,' says the text of the declaration. 'We pledge our continued support to the leaders-driven process guided by the Danish Prime Minister and his efforts to deliver a comprehensive, substantial and operationally binding agreement in Copenhagen leading towards a full legally binding outcome no later than 2010.' Harper spokesman Dimitri Soudas said the prime minister fully supports the text of the Commonwealth declaration.

The Canadian Press - Most Canadians agree warming planet is a defining crisis that demands action: survey (30 November 2009)

Most Canadians think climate change is the planet's defining crisis, a poll conducted Nov. 12-15 suggests. That belief is held most strongly in Quebec and Atlantic Canada, the survey conducted by Harris-Decima on behalf of the Munk Debates found. The poll asked Canadians if they agreed or disagreed with a resolution to be debated Tuesday during the fourth Munk Debate in Toronto, that: 'Climate change is mankind's defining crisis, and demands a commensurate response.' Nearly two thirds of Canadians agreed. 'I think it shows the extent to which not just the environment, but the actual issue of climate change, has ascended up the public agenda to (a) point where it is reminiscent of those other big causes that have shaped a lot of Canadian history,' said Rudyard Griffiths, co-organizer of the Munk Debates.

Financial Post - Canadian banks lauded in S&P survey (27 November 2009)

Canadian banks rank among the world's strongest, says a Standard & Poor's survey of 45 large banks around the world. S&P assessed risk-adjusted capital for each bank, which they argue is a more precise standard for measuring a bank's safe capital than more commonly used measures such as Tier 1 capital. According to S&P, Toronto-Dominion Bank is in the top quintile of big world banks for capital strength. Bank of Nova Scotia, Royal Bank of Canada and Bank of Montreal sit in the second quintile. That is all good news for Canadians.

Financial Post - Commodities surge in October, set to gain in 2010 (30 November 2009)

Strength in commodities was evident in October as prices recovered from their September swoon to rally 6.8%, with all sub-components rising, according to Scotiabank's monthly Commodity Price Index, which measures price trends in 32 of Canada's major exports.

Agence France Presse - Canada to recognize foreign credentials sooner (30 November 2009)

Canada will soon fast-track verification of foreign work qualifications, the federal government announced. Many immigrants are now forced to take jobs unrelated to their expertise (and often well below their qualifications) while employers are struggling to fill job vacancies. Some wait years for their foreign work experience and education to be assessed as comparable to standards for Canadian professionals. 'We want newcomers to be able to use their skills and work to their full potential. It's good for them and good for the Canadian economy,' Immigration Minister Jason Kenney said. Under the new rules, foreign-trained workers who submit an application to be licensed or registered to work in specific fields will be advised within one year whether their qualifications will be recognized in Canada.

From a Canwest News Service report on this:

The agreement will be implemented for eight occupations by December of next year. Aside from nurses, architects and engineers, the group will include financial auditors and accountants, medical laboratory technologists, occupational therapists, pharmacists and physiotherapists. A second stage to be implemented by the end of 2012 includes physicians, dentists, engineering technicians, licensed practical nurses, medical radiation technologists and teachers for kindergarten through Grade 12.

CBC News - Quebec, France sign health care labour deal (27 November 2009)

Quebec Premier Jean Charest and French Health Minister Roselyne Bachelot-Narquin signed four labour-mobility agreements in Paris. Charest said the agreements will help attract health care workers to the province. A similar agreement for nurses is expected to be signed in the next six months. The agreements are the result of a broader deal on labour mobility reached last year between Charest and French President Nicolas Sarkozy. So far, a total of 22 agreements have been signed (related to various professions)

The Vancouver Sun - Province prepares to track carbon emitters (27 November 2009)

Beginning Jan. 1, British Columbia companies annually emitting 10,000 tonnes or more of greenhouse gas (behind climate change) must make annual reports to the government, and in 2012 companies at an annual threshold of 25,000 tonnes or more will be required to participate in a provincial cap and trade system still in development. Environment Minister Barry Penner said, 'that what gets measured gets managed and if you are not measuring, it's impossible to manage properly. And that certainly applies to greenhouse gas emissions and even more so to a cap-and-trade system.' (Penner says the move gives B.C. the lowest threshold in Canada. Ontario is proposing a 25,000 tonne threshold for mandatory reporting and the federal reporting limit is set at 100,000 tonnes.)

From another Vancouver Sun report on this:

The announcement said this 'is consistent with British Columbia's participation in the development of a regional cap and trade system with Western Climate Initiative (WCI) partners in the United States and Canada. 'The WCI . . . is developing a comprehensive regional cap and trade system that includes California. 'Six other western U.S. states, as well as Ontario, Quebec and Manitoba are also members, representing 80 per cent of Canada's population and 75 per cent of its economic activity.'

The Canadian Press - First Nation leaders to get the Presidential treatment (30 November 2009)

For the first time, four aboriginal leaders, including Justin George, chief of the 400-member Tseil-Waututh (and grandson of the legendary actor and writer Chief Dan George), will be accorded status equivalent to head of state at an Olympic Games. The same status, which the International Olympic Committee calls 'honoured guests,' is also conferred on Chief Leonard Andrew of the Lil'Wat Nation near Whistler and Ernie Campbell, chief of the 1,200-member Musqueam band in southwest Vancouver. The fourth chief in line for special treatment at the Games is Bill Williams of the Squamish Nation.

The exalted designation granted chiefs of the Four Host First Nations, on whose traditional territory the 2010 Games will take place, includes access to all events, prime seating among other dignitaries, access to the private Olympic lounges, transportation, and their own assistant to ensure that all protocol goes smoothly. 'We want to show that our chiefs are head of their own communities, with their own governance structure,' Tewanee Joseph, executive director of the Four Host First Nations, said.

The status arrangement is part of a long-standing multiparty agreement signed by civic, provincial, federal, aboriginal and Olympic officials. In return for their support, the Four Host First Nations became equal Olympic partners. Mr. Joseph said that it's vital for aboriginal people to move beyond 'ceremonial stuff' at events to tangible accomplishments, such as their full-fledged partnership at the Games. Squamish band councillor Lois Joseph said the Games are taking place in their traditional territory, which they have never ceded by treaty. 'We are proud that they acknowledge that, so this is a very big honour for us. It's never happened before. We have our own traditions and we want to show that to the world.'

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