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Found 40 results

  1. The Canadian government is changing the rules on foreign ownership of airlines in Canada. They can now own up to 49% of an airline up from 25%. So it is a possibility that Porter will be bought. The other new small discount players could also be bought and give more access to Canadians. Also I saw a few days ago that Southwest Airlines is looking to fly into Canada in the future. Time will tell how things turn out. It would be nice to have a carrier similar to Ryanair operate within Canada.
  2. voici le lien (foreign direct investment) :http://www.fdiintelligence.com Le Québec en tete en amerique du nord (growth of capital investment of 321%) pour 2014
  3. Brazil’s economy The devil in the deep-sea oil Unless the government restrains itself, an oil boom risks feeding Brazil’s vices Nov 5th 2011 | from the print edition DEEP in the South Atlantic, a vast industrial operation is under way that Brazil’s leaders say will turn their country into an oil power by the end of this decade. If the ambitious plans of Petrobras, the national oil company, come to fruition, by 2020 Brazil will be producing 5m barrels per day, much of it from new offshore fields. That might make Brazil a top-five source of oil (see article). Managed wisely, this boom has the potential to do great good. Brazil’s president, Dilma Rousseff, wants to use the oil money to pay for better education, health and infrastructure. She also wants to use the new fields to create a world-beating oil-services industry. But the bonanza also risks feeding some Brazilian vices: a spendthrift and corrupt political system; an over-mighty state and over-protected domestic market; and neglect of the virtues of saving, investment and training. So it is worrying that there is far more debate in Brazil about how to spend the oil money than about how to develop the fields. If Brazil’s economy is to benefit from oil, rather than be dominated by it, a big chunk of the proceeds should be saved offshore and used to offset future recessions. But the more immediate risks lie in how the oil is extracted. The government has established a complicated legal framework for the fields. It has vested their ownership in Pré-Sal Petróleo, a new state body whose job is merely to collect and spend the oil money. It has granted an operating monopoly to Petrobras (although the company can strike production-sharing agreements with private partners). The rationale was that, since everyone now knows where the oil is, the lion’s share of the profits should go to the nation. But this glides over the complexity in developing fields that lie up to 300km (190 miles) offshore, beneath 2km of water and up to 5km of salt and rock. To develop the new fields, and build onshore facilities including refineries, Petrobras plans to invest $45 billion a year for the next five years, the largest investment programme of any oil firm in the world. That is too much, too soon, both for Petrobras and for Brazil—especially because the government has decreed that a large proportion of the necessary equipment and supplies be produced at home. How to be Norway, not Venezuela By demanding so much local content, the government may in fact be favouring some of the leading foreign oil-service companies. Many would have set up in Brazil anyway; now, with less price competition from abroad, they will find it easier to charge over the odds. Seeking to ramp up production so fast, and relying so heavily on local supplies, also risks starving non-oil businesses of capital and skilled labour (which is in desperately short supply). Oil money is already helping to drive up Brazil’s currency, the real, hurting manufacturers struggling with high taxes and poor infrastructure. When it comes to oil, striking the right balance between the state and the private sector, and between national content and foreign expertise, is notoriously tricky. But it can be done. To kick-start an oil-services industry, Norway calibrated its national-content rules realistically in scope and duration, required foreign suppliers to work closely with local firms and forced Statoil, its national oil company, to bid against rivals to develop fields. Above all, it invested in training the workforce. But Brazilians need only to look at Mexico’s Pemex to see the politicised bloat that can follow an oil boom—or at Venezuela to see how oil can corrupt a country. Petrobras is not Pemex. Thanks to a meritocratic culture, and the discipline of having some of its stock traded, Petrobras is a leader in deep-sea oil. But operating as a monopolist is a poor way to maintain that edge. Happily, too, Brazil is not Venezuela. Its leaders can prove it by changing the rules to be more Norwegian.
  4. Montreal urged to attract more skilled migrants 27 September 2007 • Media Center » Video Immigration News Montreal International (MI), an organization devoted to promoted the economic well-being of the Montreal, Canada, presented a paper recommending that measures be implemented aimed at attracting and retaining skilled migrants from abroad. The paper was presented as part of the National Assembly's Committee in Culture on planning immigration levels between 2008 and 2010. "The presence of skilled, talented and creative workers is the primary success factor for urban centres with knowledge-based economies, and these workers allow a region like Greater Montréal to increase its competitiveness and ability to attract foreign companies and investment," said Pierre Brunet, Chairman of the Board of Directors of Montreal International. "Given the intensified global competition and the resulting challenges in attracting 'brains,' it is imperative for our current and future prosperity that governments adopt measures that encourage the most qualified candidates to move, work and live here," he added. Latest news To facilitate this goal, MI proposed a series of initiatives to attract and retain skilled foreign labor in the Metropolitan Montreal region. The region has a particular need for high-technology workers, including people skilled in Information and Communications Technology, Aerospace, and Life Sciences. The initiatives include simplifying procedures in obtaining work permits, getting help from the government of Quebec in recruiting overseas workers, and promoting permanent residency over temporary migration. They would also like to see Quebec simplify its selection procedures for temporary workers. Currently, candidates from abroad are asked to hand in the same documents as candidates who live in Quebec, even if they have already handed in the documents required to obtain a work permit. MI also proposed an immigration agreement with France to promote maintaining the "francophone nature of Quebec". It suggested that the Quebec and Canadian governments initiate dialog with the French government to reach an agreement on the free movement of professionals.
  5. Free-trade zone for Shanghai Mr Li's big idea Jul 16th 2013, 5:34 by V.V.V. | SHANGHAI IF PRESS reports are to be believed, Shanghai's dreams of surpassing Hong Kong to become the region's leading financial centre may have a powerful supporter in Beijing. According to Xinhua, the official government newswire, the ruling State Council has approved plans championed by Li Keqiang, the newish premier, for an ambitious free-trade zone in the mainland's second city. The idea has set the country's press and local wags alight with speculation about how far such an idea could go. Take the conservative view, and the project is a useful albeit limited boost to trade and regional integration. On this view, the new free-trade zone would integrate modern transportation and communications infrastructure with a tax-free framework for domestic and foreign firms. This would help boost China's efforts to become a pan-Asian supply chain hub. Allowing the free movement and warehousing of metals, for example, could also allow Shanghai to develop world-leading commodities exchanges. But if you listen to the plan's more enthusiastic boosters, this idea represents nothing less than a crucible for all of the liberal economic reforms that the new administration hopes will eventually take off across the country. Those dreaming of faster financial liberalisation say that the new zone will allow foreign banks, currently inhibited by red tape from achieving scale or much profitability, to expand rapidly and easily. Domestic banks, currently restricted in their overseas activities, are supposedly going to be allowed to experiment in the new zone with products and services currently banned at home. Technology enthusiasts are claiming that the long-standing ban on video game consoles will be lifted—if consoles are themselves manufactured in the Shanghai free-trade zone. What to make of all this? It is not yet clear what the government really intends to do. However, one problem that officials will confront is that of leakage: since innovations are sure to produce price differences inside and outside the zone, how exactly will they keep enterprising locals from finding ways to arbitrage the difference? The more ambitious the scheme, the more likely it is to fail; the more conservative it is, the less relevant it becomes. That is why the only serious and sustainable way forward for China is to liberalise the entire economy, not just a tiny sliver of it. http://www.economist.com/blogs/analects/2013/07/free-trade-zone-shanghai?fsrc=scn/fb/wl/bl/libigidea
  6. The banking system in eastern Europe is increasingly vulnerable to a severe economic downturn, Moody’s has warned, saying western European banks with local subsidiaries are at risk of ratings downgrades. “The relative vulnerabilties in east European banking systems will be exposed by an increasingly tougher operating environment in eastern Europe as a result of a steep and long economic downturn coupled with macroeconomic vulnerabilities,” Moody’s said in a report. The ratings agency said it expected “continuous downward pressure on east European bank ratings” because of deteriorating asset quality, falling local currencies, exposure to a regional slump in real-estate and the units’ reliance on scarce short-term funding. Eurozone banks have the largest exposure to central and eastern Europe, with liabilities of $1,500bn – about 90 per cent of total foreign bank exposure to the region. Shares of the handful of banks with substantial investments in eastern Europe – led by Austria’s Raiffeisen and Erste Bank, Société Générale of France, Italy’s UniCredit (which owns Bank Austria) and Belgian group KBC – tumbled after the ratings agency said it was concerned about the impact of a slowdown and the ability of the parent banks to support their support units in the region. The Austrian banking system is the most vulnerable, with eastern Europe accounting for nearly half of its foreign loans, while Italian banks are exposed to Poland and Croatia and Scandinavian institutions to the Baltic states. Central and eastern European currencies have come under intense pressure in recent weeks. The credit crisis has raised fears over the region’s ability to finance its current account deficits and slowing global growth has heightened concerns over the health of its export-dependent economies. The Polish zloty plunged to a five-year low against the euro on Tuesday, while the Czech koruna hit a three-year trough against the single currency and the Hungarian forint falling to a record low. The Prague and Warsaw stock indices meanwhile fell to their lowest levels in five years, while the smaller markets of Budapest, Zagreb and Bucharest skirted close to multi-year lows. The euro dropped to a two-month low against the dollar on Tuesday on heightened concerns over eurozone banks’ exposure to the worsening conditions in eastern Europe. Amid the growing sense of crisis in eastern European economies, Hungary on Tuesday outlined plans to save Ft210bn (€680m, $860m) this year to prevent an increase in the budget deficit. Hungary’s economy is expected to contract by up to 3 per cent this year, much more than earlier expectations. Antje Praefcke at Commerzbank said eastern European currencies were in a “self-feeding depreciation spiral.” “The creditworthiness of local banks, companies and private households, who hold mainly foreign currency denominated debt, is deteriorating with each depreciation in eastern European currencies, thus further undermining confidence in the currencies,” she said. Ms Praefcke said further depreciation of eastern European currencies was thus a distinct possibility, which was likely to undermine the euro. “The collapse of these currencies is likely to constitute a risk for the euro,” she said. “So far markets have largely ignored this fact, but are unlikely to be able to maintain this approach if the weakness of the eastern European currencies continues.” Western European banks have piled into the former Communist countries in recent years as economic growth in the region outpaced domestic gains. The accession of 10 new members to the European Union in 2004, and of Romania and Bulgaria in 2007, added to optimism about the region. In 2007, Raiffeisen and Erste Bank earned the vast majority of their pre-tax profits in eastern European countries including Russia and Ukraine. Since the onset of the global financial crisis, Hungary, Latvia and Ukraine have all received emergency loans from the International Monetary Fund, with other countries in the region expected to follow.
  7. Montreal's Greek consulate has already felt the impact of the Greek government's austerity measures, but many in the city's 80 thousand-strong Greek community are more angry at the rioters in their homeland than they are about the cuts. Hundreds of people rioted in the streets of Athens on the weekend, setting fires and looting stores, after the Greek parliament passed a new round of measures aimed at staving off bankruptcy. Politicians voted to slash the country's minimum wage and axe one-in-five civil service jobs over the next three years. Foreign consular offices have not been left unscathed. "We have had cuts, yes," confirmed the Greek consul-general for Montreal, Thanos Kafopoulos. "But we still try to maintain service, and we are also trying to increase revenues." Kafopoulos said many Greek expatriates living in Montreal own property and have investments in their native country - and they are divided over the solution. "There is concern. There is sadness, and there is worry about the process that Greece is going through," he said. http://www.cbc.ca/news/canada/montreal/story/2012/02/13/montreal-greeks-react.html
  8. Story God bless Quebec for making life so hard for foreign trained doctors to practice here, even after passing exams here in Canada / Quebec. Honestly if they got rid of the damn language law, Montreal and the rest of the province would grow in more ways than one. Down with Bill 101.
  9. The French election and business The terror The 75% tax and other alarming campaign promises Apr 7th 2012 | PARIS | from the print edition EUROFINS SCIENTIFIC, a bio-analytics firm, is the sort of enterprise that France boasts about. It is fast-growing, international and hungry to buy rivals. So people noticed when in March it decamped to Luxembourg. Observers reckon it was fleeing France’s high taxes. It will soon be joined by Sword Group, a successful software firm, which voted to move to Luxembourg last month. As France enters the final weeks of its presidential campaign, candidates are competing to promise new measures that would hurt business. François Hollande, the Socialist candidate, and the current favourite to win the second and final round on May 6th, has promised a top marginal income-tax rate of 75% for those earning over €1m ($1.3m). He has declared war on finance. If the Socialists win, he pledges, corporate taxes will rise and stock options will be outlawed. Other countries welcome global firms. “France seems to want to keep them out,” sighs Denis Kessler, the boss of SCOR, a reinsurer. Jean-Luc Mélenchon, an even leftier candidate than Mr Hollande, has been gaining ground. Communists marched to the Bastille on March 18th to support him. The right offers little solace. Nicolas Sarkozy, the incumbent, is unpopular partly because of his perceived closeness to fat cats. To distance himself, he has promised a new tax on French multinationals’ foreign sales. If Mr Hollande wins, he may water down his 75% income-tax rate. But it would be difficult to back away from such a bold, public pledge. And doing business in France is hard enough without such uncertainty. Companies must cope with heavy social charges, intransigent unions and political meddling. The 35-hour work week, introduced in 2000, makes it hard to get things done. Mr Hollande says he will reverse a measure Mr Sarkozy introduced to dilute its impact by exempting overtime pay from income tax and social charges. The 75% income-tax rate is dottier than a pointilliste painting. When other levies are added, the marginal rate would top 90%. In parts of nearby Switzerland, the top rate is around 20%. French firms are already struggling to hire foreign talent. More firms may leave. Armand Grumberg, an expert in corporate relocation at Skadden, Arps, Slate, Meagher & Flom, a law firm, says that several big companies and rich families are looking at ways to leave France. At a recent lunch for bosses of the largest listed firms, the main topic was how to get out. Investment banks and international law firms would probably be the first to go, as they are highly mobile. Already, the two main listed banks, BNP Paribas and Société Générale, are facing queries from investors about Mr Hollande’s plan to separate their retail arms from investment banking. He has also vowed to hike the corporate tax on banks from 33% to nearly 50%. In January Paris launched a new €120m ($160m) “seed” fund to attract hedge funds. Good luck with that. Last month Britain promised to cut its top tax rate from 50% to 45%. No financial centre comes close to Mr Hollande’s 75% rate (see chart). Large firms will initially find it hard to skedaddle. Those with the status ofsociété anonyme, the most common, need a unanimous vote from shareholders. But the European Union’s cross-border merger directive offers an indirect route: French firms can merge with a foreign company. Big groups also have the option of moving away the substance of their operations, meaning decision-making and research and development. Last year, Jean-Pascal Tricoire, the boss of Schneider Electric, an energy-services company, moved with his top managers to run the firm from Hong Kong (where the top tax rate is 15%). For now, the firm’s headquarters and tax domicile remain in France. But for how long? Pressure to leave could come from foreign shareholders, says Serge Weinberg, the chairman of Sanofi, a drugmaker. “American, German or Middle Eastern shareholders will not tolerate not being able to get the best management because of France’s tax regime,” he says. At the end of 2010, foreign shareholders held 42% of the total value of the firms in the CAC 40, the premier French stock index. That is higher than in many other countries. It is not clear whether the 75% tax rate would apply to capital gains as well as income. As with most of the election campaign’s anti-business pledges, the detail has been left vague. Mr Sarkozy has offered various definitions of what he means by “big companies”, which would have to pay his promised new tax. Some businessfolk therefore hope that the most onerous pledges will be quietly ditched once the election is over. But many nonetheless find the campaign alarming. French politicians not only seem to hate business; they also seem to have little idea how it actually works. The most debilitating effects of all this may be long-term. Brainy youngsters have choices. They can find jobs or set up companies more or less anywhere. The ambitious will risk their savings, borrow money and toil punishing hours to create new businesses that will, in turn, create jobs and new products. But they will not do this for 25% (or less) of the fruits of their labour. Zurich is only an hour away; French politics seem stuck in another century. http://www.economist.com/node/21552219
  10. I don't really foresee the volume of foreign capital required coming in to Mtl. and thus upsetting its affordability. There are too many vacant locations as is, and not enough population and economic growth to massively reverse the situation. The one-in-six rule: can Montreal fight gentrification by banning restaurants? | Cities | The Guardian The one-in-six rule: can Montreal fight gentrification by banning restaurants? A controversial law limiting new restaurant openings in Montreal’s Saint-Henri area has pitted business owners against those who believe they are fighting for the very survival of Canada’s ‘culture capital’. Who is right? In downtown Montreal, traditionally low rental rates are coming under severe pressure amid a deluge of new restaurants and cafes. Matthew Hays in Montreal Wednesday 16 November 2016 12.30 GMT Last modified on Wednesday 16 November 2016 12.31 GMT In Montreal’s Saint-Henri neighbourhood, the hallmarks of gentrification shout loud and clear. Beautiful old brick buildings have been refurbished as funky shops, niche food markets and hipster cafes. Most notably, there are plenty of high-end restaurants. More than plenty, say some local residents – many of whom can’t afford to eat in any of them. Earlier this month, the city council agreed enough was enough: the councillors of Montreal’s Southwest borough voted unanimously to restrict the opening of new restaurants. The bylaw roughly follows the “one-in-six” rule, with new eateries forbidden from opening up within 25 metres of an existing one. “Our idea was very simple,” says Craig Sauvé, a city councillor with the Projet Montreal party. “Residents need to be able to have access to a range of goods and services within walking distance of their homes. Lots of restaurants are fine and dandy, but we also needs grocery stores, bakeries and retail spaces.” It’s not as though Saint-Henri is saturated with business: a number of commercial and retail properties remain empty. In that environment, some residents have questioned whether it’s right to limit any business. Others felt that something had to be done. Tensions boiled over in May this year, when several restaurants were vandalised by a group of people wearing masks. At the grocery store Parreira Traiteur, which is attached to the restaurant 3734, vandals stole food, announcing they were taking from the rich and giving to the poor. “I was really quite shocked,” says co-owner Maxime Tremblay. “I’m very aware of what’s going on in Saint-Henri: it’s getting hip, and the rents are going up. I understand that it’s problematic. They were under the impression that my store targets people from outside the area, which isn’t really the case. I’ve been very careful to work with local producers and artisans. Why would you attack a locally owned business? Why not a franchise or chain?” Not everyone is sure the change in regulation will work. “The bylaw seems very abstract to me,” says Peter Morden, professor of applied human sciences at Concordia University who has written extensively on gentrification. “I wonder about the logic of singling out restaurants. I think the most important thing for that neighbourhood would be bylaws that protect low-income and social housing.” Alongside restaurants, chic coffee shops have become emblematic of Montreal’s pace of change. As the debate rages, Montrealers are looking anxiously at what has happened to Canada’s two other major metropolises, Toronto and Vancouver. Both cities have experienced huge spikes in real-estate prices and rents, to the point where even upper-middle-class earners now feel shut out of the market. Much of Vancouver’s problem has been attributed to foreign property ownership and speculative buying, something the British Columbia government is now attempting to address. This has led to concern that many of the foreign buyers – mainly Chinese investors – could shift their focus to Montreal. For now, the city’s real estate is markedly cheaper than that of Vancouver or Toronto: the average residential property value is $364,699, compared with Toronto’s $755,755 and Vancouver’s $864,566, according to the Canadian Real Estate Association. And rent is cheaper, too: the average for a two-bedroom apartment in central Montreal is $760, compared with Toronto’s $1,288 and Vancouver’s $1,368. Montrealers have little desire for their city to emulate Vancouver’s glass-and-steel skyline. The reasons for this are debatable – the never-entirely-dormant threat of Quebec separatism, the city’s high number of rental units and older buildings, its strict rent-control laws and a small-court system seen to generally favour the rights of tenants. But regardless of why it’s so affordable, many Montrealers want it to stay that way. There is widespread hostility towards the seemingly endless array of glass-and-steel condos that have come to dominate the Vancouver and Toronto skylines. If Montreal does look a bit grittier than other Canadian cities, it owns a unique cultural cachet. The inexpensive cost of living makes it much more inviting to artists, which in turn makes the city a better place to live for everyone; its vibrant musical scene is the envy of the country, and its film, dance and theatre scenes bolster the city’s status as a tourist attraction. In this context, Montreal’s restaurant bylaw is designed to protect the city’s greatest asset: its cheap rents. “I would argue this is a moderate bylaw,” says Sauvé. “We’re just saying one out of every six businesses can be a restaurant. There’s still room for restaurant development.” He says the restaurant restriction is only part of Projet Montreal’s plans, which also include increased funding for social housing. “Right now, the city sets aside a million dollars a year to buy land for social housing. Projet Montreal is proposing we spend $100m a year. The Quebec government hasn’t helped with its austerity cuts: in the last two budgets, they have cut funding for social housing in half. There are 25,000 people on a waiting list.” Perhaps surprisingly, the provincial restaurant lobby group, the Association des Restaurateurs du Quebec, doesn’t have an issue with the bylaw. “We understand the impact gentrification can have,” says spokesperson Dominique Tremblay. “We understand the need for a diversity of businesses. Frankly, if there are too many restaurants on one street, it’ll be that much harder for them to stay open. There won’t be enough customers to go around.” Even despite having been robbed, Tremblay says he recognises the anxiety that swirls around the subject of gentrification. “People feel a neighbourhood loses its soul,” he says. “I get that. I’d rather we find a dialogue, not a fight.”
  11. http://www.cbc.ca/beta/news/canada/montreal/montreal-real-estate-tax-foreign-investors-vancouver-1.3704178 A new tax on foreign buyers in Vancouver has real estate agents predicting a spillover effect into other Canadian markets. But it's unclear if Montreal, often an outlier when it comes to real estate trends, will be among them. "I really don't think this is something that's looming for Montreal," said Martin Desjardins, a local realtor. The market here is "nothing compared to what's happening in Toronto and Vancouver," he said. The new 15 per cent tax, which took effect Tuesday, was introduced by the British Columbia government with the intent of improving home affordability in Metro Vancouver, where house prices are among the highest in North America. Ontario Finance Minister Charles Sousa has said he is examining the possibility of a similar tax "very closely," as a measure to address Toronto's skyrocketing home prices. Experts believe the Vancouver tax could exacerbate the booming housing market in Toronto and, potentially, affect other Canadian cities. Brad Henderson, president and CEO of Sotheby's International Realty Canada, said some foreign nationals could turn to areas not subject to a tax — either elsewhere in British Columbia or farther afield. "Certainly I think Toronto and potentially other markets like Montreal will start to become more attractive, because comparatively speaking they will be less expensive,'' Henderson said. However, the Montreal market has so far remained off the radar of foreign investors. France, U.S top Montreal foreign buyers the Canada Mortgage and Housing Corporation said the number of foreign investors in the Montreal area is small and concentrated in condominiums in the city's downtown. The report found that 1.3 per cent of condominiums in the greater Montreal region were owned by foreigners last year. That number jumps to nearly five per cent in the city's downtown. Residents of the United States and France accounted for the majority of foreign buyers, while China (at eight per cent) and Saudi Arabia (five per cent) accounted for far fewer buyers. Francis Cortellino, the CMHC market analyst who prepared the study, said it's difficult to determine whether the Vancouver tax will change the situation much in Montreal. "We're not sure yet what [buyers] will do," he said. "There are a lot of possibilities." In Montreal, Desjardins said the foreign real estate buyers most often operate on a much smaller scale, often consisting of "mom and pop investors" or people from France looking for a more affordable lifestyle. "I don't think it will ever be to the point where we'll have to put a tax," he said. Sent from my iPhone using Tapatalk
  12. Tembec Industries Files Bankruptcy as Foreign Firm (Update1) By Christopher Scinta Sept. 4 (Bloomberg) -- Tembec Industries Inc., a unit of Montreal-based Tembec Inc., filed for protection from U.S. creditors to implement the debt restructuring approved by a Canadian court in February. The company said in papers filed today in U.S. Bankruptcy Court in New York that its assets and debts exceed $1 billion. Tembec Industries filed under Chapter 15 of the U.S. Bankruptcy Code, saying it wants the debt restructuring that was approved by the Ontario Superior Court of Justice to govern U.S. creditors. Chapter 15 allows foreign companies to reorganize outside the U.S. while protecting them from U.S. lawsuits and creditor claims. Holders of more than 98 percent of the company's notes and 95 percent of its stock voted earlier this year in favor of the restructuring that swapped debt for new equity, Michel Dumas, the company's chief financial officer, said in a statement to the court. Tembec had to restructure its debt due to the rising value of the Canadian dollar, declining U.S. home construction, a glut of timber because of a beetle infestation in British Columbia and falling newsprint demand, according to court papers. Douglas Bartner, an attorney with Shearman & Sterling in New York that filed the petition, didn't immediately respond to a phone call seeking comment. Tembec produces about 1.7 billion board feet of lumber, 1 million tons of paper and 2.1 million tons of pulp a year, according to court papers. Virtually all of Tembec's assets are in Canada, so the reorganization plan approved by the Canadian court should govern, Dumas said. Tembec joins another Canadian wood-products company, Pope & Talbot Inc., in filing for U.S. Chapter 15 as a foreign entity. The case is In re Tembec Industries Inc., 08-13435, U.S. Bankruptcy Court, Southern District of New York (Manhattan). To contact the reporter on this story: Christopher Scinta in New York at [email protected] Last Updated: September 4, 2008 16:37 EDT
  13. (Courtesy of CBC) Read more by clicking the link. It would be something to see, but would it actually happen?
  14. For the third year in a row, and the 7th overall, Canada was nominated for an Academy Award in the Best Foreign Language category, for Rebelle. Monsieur Lazhar was nominated in 2011 and Incendies was nominated in 2010. It has no shot at winning though, Austria's Amour will take the Oscar (Amour was also nominated for Best Original Screenplay, Best Actress and Best Picture) Still, Quebec cinema is on fire! http://blogs.montrealgazette.com/2013/01/10/rebelle-nabs-oscar-nomination-for-best-foreign-language-film/
  15. LIST :: http://www.financialpost.com/magazine/fp500/list.html The beat goes on The right numbers are up. But momentum? That’s another thing Cooper Langford, Financial Post Business Published: Tuesday, June 03, 2008 Related Topics Story tools presented by Good stories start in the middle of the action, so let's do that - specifically at the No. 162 spot on the 2008 edition of the Financial Post 500, our annual ranking of Canada's largest companies by revenue. In that position: Martinrea International Inc., a Vaughan, Ont.-based auto-parts maker that's put the pedal to the metal in pursuit of growth. In a year when the loonie hit par with the U.S. buck and belt-tightening at Detroit's Big Three throttled the auto sector, Martinrea did a surprising thing: It more than doubled its revenue to $2 billion. In the process, it also jumped 168 places, making it one of the highest-climbing firms on our list. That an upstart underdog in a declining sector can deliver such a positive outcome says a lot about the stories, themes and companies that define this year's FP500. Some firms have had great years, but for many others it was just the opposite. And in a lot of cases, one company's good fortune comes at the expense of others. Martinrea, for example, made its big leap because it was able to acquire a major rival at depressed market prices. Likewise, factors such as the price of oil - which rose to within a hair's breadth of US$100 per barrel in 2007 - boosted most oil producers while hammering other companies that were directly or indirectly hurt by the high cost of fuel. Martinrea's success is revealing in one other way as well. With total revenue of all the FP500 companies increasing by just $44 billion in 2007 - to $1.583 trillion from $1.539 trillion - the little parts maker's $1.1-billion revenue gain represents fully 2.5% of the entire increase. When you're counting on a company that represents a meagre 0.1% of the total FP500 revenue to do that much heavy lifting, you have to wonder about the strength of the underlying economy and the prospects for the year ahead. Meanwhile, the theme of surprise extended to some of the largest companies on the FP500, too. Start with Royal Bank of Canada, which returns as No. 1 overall. No one doubted that it would retain its crown as Canada's largest corporation, but how many thought it would also lead our list of top revenue gainers? After all, the financial sector was hammered last year by fallout from the subprime mortgage crisis and the choked credit markets that followed. Yet RBC - thanks to its well-diversified base of revenue streams - shone through with a year-over-year increase of more than $5 billion. And then there's EnCana Corp. (No. 13), Canada's largest energy company and one of its most profitable firms. Many people will no doubt be surprised to find that it tops our list of biggest profit decliners. Granted, it still earned $4.3 billion, but that's off $2.1 billion from 2006, despite a 24% increase in revenue to $23 billion. Blame a steep mid-year dip in the price of natural gas, the erosion of margins due to the rising dollar and ever-escalating costs that resulted from shortages of materials and skilled labour. (A complete series of "Top 5" breakout lists and profiles accompanies this story.) ANYONE LOOKING for more predict-able outcomes can still hang their hat on the global commodity boom. While price increases didn't match those of 2006, there was still enough steam in the market for it to have a major impact on the list - powering up some of 2007's largest percentage revenue gains. Yamana Gold Inc. (No. 340), for example, leapt onto the FP500 with a 318% increase, to $800 million, following its $3.5-billion acquisition in September of Meridian Gold Inc. Soaring oil prices continued to stoke more than a few bottom lines across the energy sector - average revenue growth there came in at 18.8%. Leading the way was Calgary-based Harvest Energy Trust (No. 94) with a revenue increase of 193.2%, to $4 billion. This gain was due, in part, to its mid-2006 acquisition of North Atlantic Refining Ltd. in Come By Chance, N.L., a groundbreaking $1.6-billion deal that turned Harvest into Canada's first vertically integrated oil and gas royalty trust. At the same time, however, energy costs - coupled with the strong dollar - weighed heavily on central Canada. They wreaked havoc particularly on forestry companies already reeling from the collapse of the U.S. housing market. Indeed, of the 19 forestry firms on our ranking, only four avoided outright revenue declines. Nine of the remaining firms saw a double-digit fall in their income. Weyerhaeuser Canada Ltd. turned in the worst performance, stumbling to the No. 384 position from No. 231 as its revenue fell to $648 million - a 50% decrease, which earned it the dubious distinction of this year's "Worst Fall." The picture looks only a little brighter in the beleaguered manufacturing sector, where half of the 28 ranked firms posted revenue declines. In broad terms, though, the economy absorbed the worst of these impacts. Much like corporate revenue and profit (which climbed 4.4% for the FP500 as a whole, compared to a 34% rise in 2006), GDP growth held steady, clocking in at 2.7%, the same as 2006, but down from 2.9% in 2005. Unemployment, meanwhile, fell to 6%, its lowest level in 33 years. These kinds of numbers, it seems, were good enough to keep consumers in stores with their wallets open, as a look at some of the newcomers to the FP500 suggests. For evidence, look no further than the No. 288 position, occupied this year by consumer electronics manufacturer LG Electronics Canada, with revenue of $1 billion. A few ranks further down, at No. 311, you'll find Kia Canada Inc., a subsidiary of Korean auto maker Kia Motors, with revenue of almost $900 million. Equally intriguing - given fears for the future of the music and video retail business - is the arrival on the FP500 of HMV Canada Inc. at No. 500, with revenue of $407 million. Granted, HMV's revenue is actually down 0.6%, yet it still made the jump from No. 510 last year on the Next 300 list. DEALING WITH volatility and a rapidly changing economic landscape may have been the biggest theme in corporate Canada during 2007, but it wasn't the only one: Foreign takeovers also swept the market. The headlines were bigger in 2006, when iconic Canadian firms such as Hudson's Bay Co., Inco Ltd. and Dofasco fell into foreign hands. But it wasn't until last year that the number and value of takeover deals hit truly astonishing levels. In the first six months of 2007, the value of foreign M&A activity in Canada soared to $153 billion, according to investment banking firm Crosbie & Co. Inc., eclipsing the total of $102 billion for all of 2006. By the end of the year, the value of deals reached a record-setting $186.8 billion, with international miner Rio Tinto plc's $44.9-billion acquisition of Alcan Inc. (No. 7) leading the way. Other deals included Houston-based Marathon Oil Corp.'s $7.1-billion bid for Western Oil Sands Inc. (No. 296), Abu Dhabi National Energy Co.'s $5-billion takeout of PrimeWest Energy Trust (No. 398) and IBM Corp.'s $4.4-billion acquisition of software maker Cognos Inc. (No. 261). With those kinds of names and numbers in the air, it's no surprise that the flurry of activity reignited the age-old debate about the "hollowing" of corporate Canada. Dominic D'Alessandro, who recently announced he'll retire next year as CEO of Manulife Financial Corp. (No. 2), weighed in during his annual address to shareholders in May 2007, saying: "I sometimes worry that we may all wake up and find that, as a nation, we have lost control of our affairs." Others wondered what all the fuss was about. In a March 2007 report, the Institute for Competitiveness & Prosperity argued that Canada's ability to produce companies that are global leaders far outweighs the losses it has witnessed due to foreign takeovers. Among the examples it used to make its case were Research in Motion Ltd. (No. 65), North American convenience-store giant Alimentation Couche-Tard Inc. (No. 24) and ATS Automation Tooling Systems Inc. (No. 367), a manufacturing-solutions firm active in the international health-care, electronics and automotive sectors. We'll keep our opinions to ourselves, but here's one notable fact: According to Crosbie & Co., Canadian firms made twice as many acquisitions abroad as foreign firms did here. At $93 billion, however, the total value of those deals was only half the value of foreign takeovers in Canada. GIVEN ALL that acquisition activity in 2007, it's almost inevitable that some companies now on our list will have disappeared when it comes time to compile the FP500 for 2008. Others may fall off because their revenue stumbles to levels where they no longer make the cut-off. But the FP500 is a renewable resource; for every firm that leaves, there's another that takes its place. A scan of the Next 300, which follows our main ranking, offers hints. Companies that stand out include The Data Group Income Fund, which rose more than 100 positions to No. 507 and was just $10 million shy of making the big chart, as well as rising food manufacturer Lassonde Industries Inc. at No. 505, up from No. 545 in 2006. The biggest wild card for next year's ranking, however - one that affects nearly every company on both the FP500 and the Next 300 - has to do with where the economy will take them. The FP500 as a whole hasn't had a year of revenue decline since 2004 (and the drop was a miniscule $2 billion), but it looks like a distinct possibility if current GDP forecasts prove accurate. In late April, the Bank of Canada called for GDP growth of just 1.4% in 2008, with most private-sector forecasts in the same ballpark. While Canada's domestic markets should do okay, a weak U.S. economy will drag us down. Results like that, at least a full percentage point lower than 2007's 2.7%, would make it hard for FP500 revenue totals to stay out of the red. If so, spunky companies like Martinrea may be fewer and farther between when we do this again next year.
  16. Greece | Oil | Keystone XL | RRSPs | BoC | Apple | Target | Bombardier How the falling loonie and low rates could lure more foreign investors to Canadian housing Republish Reprint Garry Marr | February 26, 2015 | Last Updated: Feb 26 7:12 PM ET More from Garry Marr | @DustyWallet Twitter Google+ LinkedIn Email Typo? More Jason Payne/Postmedia News, file Jason Payne/Postmedia News, fileLennon Sweeting, a Toronto-based dealer with US Forex which trades in currencies, says the loonie is making housing more attractive to foreign buyers. Canada’s two priciest housing markets may not need the boost, but Toronto and Vancouver could be on the verge of a spike in foreign investment. Toronto's rental market reborn as housing prices surge out of reach for many ‘There’s a huge demand for rental… We are seeing for the first time in 40 years people are starting to build rental,’ says managing director of Timbercreek Asset Management With the loonie falling about 10% against the U.S. dollar in the last six months, foreigners who have their money parked in greenbacks or in currencies pegged to the American dollar are likely to ramp up their interest in the Canadian marketplace, say industry experts. Alberta, which is now facing a crunch of new listings and weak demand, is unlikely to see any benefit as investors run away from the province over oil price fears. “The reputation of the oilpatch here has been tarnished a bit,” says Dan Scarrow, the Shanghai-based managing director of Canadian Real Estate Investment Centre, which was set up just two months ago, and is run by Vancouver-based Macdonald Real Estate Group. He says the opposite is true in Vancouver and Toronto, where prices in January were up 7.5% and 6.1% respectively from a year ago, according to the Canadian Real Estate Association. “With the Chinese economy slowing down a bit and with the Canadian dollar depreciating 20% versus the RMB, it might change the calculus of some people of how much they want to leave in China and how much they want to bring to Canada.” To [foreign investors], the Canadian market has gone on sale Mr. Scarrow’s firm caused a stir last year with data it produced from its client base that showed 33.5% of all single-family homes sales in the Vancouver area could be traced to buyers from mainland China. Foreign buyers and their position in the marketplace have been a concern for some market watchers, who fear these investors are inflating housing prices. But there hasn’t been definitive data. Even the chief executive of Canada Mortgage and Housing Corp., Evan Siddall, conceded there were data gaps. The Crown corporation finally produced data two months ago on the condominium market that showed as much as 2.4% of Toronto highrises were in foreign hands and 2.3% in Vancouver, with some people still disputing those findings. Mr. Scarrow says in terms of Chinese investors they are divided between people still living overseas and people already living in Canada but with money still parked in RMBs. With Chinese New Year over, he expects investment to pick up. Related Foreign buyers taking over — this time it's Canadians in Florida IMF says housing in Canada overvalued by as much as 20% “Decisions have been held off until this week,” he says. “There is a lag for these things in terms of stats and what we see on the ground.” Brian Johnston, chief operating officer of Toronto-based Mattamy Homes, has never been a believer of the idea that foreign investment was a huge factor in Canadian housing, but he says when you get can a 10% to 20% currency swing it has to be positive. “To [foreign investors], the Canadian market has gone on sale,” said Mr. Johnston, noting his company also develops property in the United States it tries to sell to Canadians. “The reverse is true for them. The price of U.S. real estate just went up by 10%.” Lennon Sweeting, a Toront0-based dealer with US Forex which trades in currencies, says the loonie is making housing more attractive to foreign buyers. “The Bank of Canada has tried to offset lower prices with a weaker currency making investing in Canada more attractive,” said Mr. Sweeting, adding most high net worth investors are likely holding U.S. dollars right now. “Absolutely it makes it easier to buy [Canadian real estate]. If you’re holding U.S. dollars you are looking at buying at a discount and there’s plenty of supply.” Low interest rates have also boosted demand, even though foreign investors tend to have to put up larger down payments when borrowing to buy property. Shaun Hildebrand, senior vice-president at condo research firm Urbanation Inc., noted new condo sales in the Greater Toronto Area in 2014 rose over 50% from a year ago but it’s hard to pinpoint how much is attributable to foreign investors. “I wouldn’t be surprised at all to see more foreign investment in 2015,” said Mr. Hildebrand, adding surveys of Urbanation clients peg the foreign component of Toronto’s condo market at just under 5%. sent via Tapatalk
  17. http://www.nytimes.com/2011/03/03/greathomesanddestinations/03gh-househunting-1.html?_r=1&adxnnl=1&adxnnlx=1299593719-+xlaQH3kS13uLe9aveRW4A
  18. Source: Montreal Gazette Immigration in Canada by the numbers By Kirsten Smith, Postmedia News The proportion of foreign-born population in G8 countries and Australia (reported statistically) Japan — 1.0 per cent (2000) Italy — 8.0 per cent (2009) Russia — 8.2 per cent (2002) France — 8.6 per cent (2008) United Kingdom — 11.5 per cent (2010) United States — 12.9 per cent (2010) Germany — 13 per cent (2010) Canada — 20.6 per cent (2011) Australia — 26.8 per cent (2010) Recent immigration (2006 to 2011) Canada — 1.2 million Toronto — 381,745 Montreal — 189,730 Vancouver — 155,125 Calgary — 70,700 Edmonton — 49,930 Winnipeg — 45,270 Ottawa-Gatineau — 40,420 Saskatoon — 11,465 Windsor — 9,225 Regina — 8,150 The make-up of first-, second- and third-generation immigrants compared to total population: First generation (born outside Canada): 7.2 million or 22 per cent Of them: • 93.3 per cent immigrants • 4.9 per cent foreign students and foreign workers • 87,400 were born outside Canada to parents who are Canadian Second generation (born in Canada but at least one parent was born abroad): 5.7 million or 17.4 per cent • 54.8 per cent said both their parents were born outside Canada • B.C. was home to the most second generation residents 23.4 per cent • 3 in 10 second-generation residents were a visible minority Third generation (born in Canada, both parents also born in Canada): 19.9 million or 60.7 per cent Read more: http://www.canada.com/Immigration+Canada+numbers/8354135/story.html#ixzz2SiAN7sP2
  19. NEARLY $630 MILLION IN FOREIGN INVESTMENT AND TWO NEW INTERNATIONAL ORGANIZATIONS ATTRACTED; HELP TO OVER 1,000 SKILLED FOREIGN WORKERS TO ESTABLISH IN GREATER MONTRÉAL MONTREAL, April 15 /CNW Telbec/ - On the occasion of its 14th Annual Meeting held today with 200 members and partners attending, Montréal International (MI) presented its results for the year 2009. Among the highlights were the metropolitan economic development organization's success in contributing to attract nearly $630 million in foreign investment, two new international organizations and over 1,000 skilled foreign workers into Greater Montréal. On the innovation front, MI supported five promising projects in high-tech industries in Metropolitan Montréal. As for promoting the region's advantages on the international stage, some 40 activities were undertaken in foreign markets. At the event - which welcomed Mr. André Lauzon, Executive Producer and Head of Electronic Arts Mobile Montréal as guest speaker - the Acting President and CEO of Montréal International, Mr. Luc Lacharité, emphasized: "The competence and dedication of MI's staff, combined with the support and collaboration of the organization's members and partners, once again has generated further substantial benefits for the metropolitan region's economic competitiveness and international status, in spite of difficult world economic conditions." Foreign investment In 2009, MI helped attract $626.3 million in foreign investment into Greater Montréal. This investment, nearly three-quarters of which is in high-technology sectors and will create or maintain over 2,900 jobs in the metropolitan region, comes 56% from North America, 32% from Europe and 12% from Asia. A further indicator of the added value of MI's results is that over half (55.3%) of the projects were new set-ups. International organizations In terms of attracting international organizations (IOs), the MI 2009 Activity Report mentions the decision of two IOs to set up in Montréal, as well as the official opening of the secretariats of two other IOs in the metropolis. Various international promotional and networking activities were also organized among the IOs community during the year. Skilled foreign workers In 2009, the International Mobility team handled 1,025 files of skilled foreign workers on behalf of 262 businesses, institutions and international organizations in Greater Montréal. In total, 1,784 individuals benefited from MI help and career counselling to settle in the region. The impact of this specialized foreign workforce is very positive for Greater Montréal, as their combined earnings will represent more than $155 million over three years. This qualified workforce also boosts the region's expertise in key sectors. Innovation Last year, MI supported five promising projects in innovation development in Greater Montréal: - Research and innovation initiative in computer-generated images, a Québec Film and Television Council project; - Mobility Alliance, a TechnoMontréal project in cooperation with Alliance numérique to develop and market new applications and new content for mobile platforms; - ScienceAffaires meetings, in cooperation with the Natural Sciences and Engineering Research Council of Canada (NSERC), a pilot project to maximize sharing among scientists, artists, economic development players and the business world; - A market intelligence study in the medical drug sector, in cooperation with the Québec Consortium for Drug Discovery (CDQM); - The 2009 Aerospace Innovation Forum, organized by Aéro Montréal. International promotion of Greater Montréal At the top of the list of MI's key promotional achievements in 2009 is its upgraded website. The 2009-2010 edition of "Greater Montréal's Attractiveness Indicators" has also drawn keen interest. This annual MI publication also won an APDEQ (Québec Association of Economic Development Professionals) award in the best information tool category. Lastly, numerous promotional events were organized last year, including a mission to New York in which MI partners participated. MI Board of Directors The 2010-2011 Board of Directors of Montréal International is made up of the following members (N=new member, R=renewal): Private Sector Members: - Mr. Luc Benoît, President, AECOM Tecsult; - Mr. André Boulanger, President, Hydro-Québec Distribution ®; - Mr. Jean-Jacques Bourgeault, Vice Chairman of the Board, Montréal International, and Corporate Director; - Mr. Pierre Brunet, Chairman of the Board of Directors, Montréal International, and Corporate Director; - Mr. Renaud Caron, Principal Vice President, Strategic Development, CGI Group; - Me C. Stephen Cheasley, Treasurer, Montréal International, and Partner, Fasken Martineau ®; - Mr. James C. Cherry, President and Chief Executive Officer, Aéroports de Montréal ®; - Mr. Richard Filion, Director General, Dawson College, and President, Regroupement des collèges du Montréal métropolitain (Metropolitan Montréal College Alliance); - Mr. Michel Guay, Chairman of the Board, TechnoMontréal ®; - Mr. Luc Lacharité, Acting President and Chief Executive Officer, Montréal International; - Mr. Guy LeBlanc, Managing Partner, Montréal Office, PricewaterhouseCoopers (N); - Me David McAusland, Partner, McCarthy Tétrault ®; - Mr. Andrew T. Molson, Vice Chairman, Molson Coors Brewing Company ®; - Mr. Marc Parent, President of the Board of Directors, Aéro Montréal, and President and Chief Executive Officer, CAE; - Ms. Louise Roy, Chancellor, Université de Montréal, Chair of the Board, Conseil des arts de Montréal, and Cirano invited Fellow ®; - Mr. Jean-Pierre Sauriol, President and CEO, Dessau; - Mr. Hubert Thibault, Vice President - Institutional Affairs, Fédération des caisses Desjardins du Québec ®; - Ms. Sylvie Vachon, President and Chief Executive Officer, Montréal Port Authority ®; - Dr. Judith Woodsworth, President, Concordia University. Public sector Representatives: - Mr. Michael Applebaum, Mayor of the Borough of Côte-des-Neiges - Notre-Dame-de-Grâce, Vice Chair of the Executive Committee of the City of Montréal, responsible for Services to citizens, Relations with the Boroughs and Housing, Member of the Agglomeration Council and the Board of Directors of the Communauté métropolitaine de Montréal (CMM) (N); - Mr. Richard Deschamps, Member of the Executive Committee, responsible for Major Projects 2025, Economic development, Infrastructures and Roads, City Councillor, LaSalle Borough, City of Montréal ®; - Mr. Claude Haineault, Mayor of the City of Beauharnois ®; - Mr. Luis Miranda, Mayor of the Anjou Borough, City of Montréal ®; - Ms. Sylvie Parent, Member of the Executive Committee, City of Longueuil ®; - Mr. Jean-Marc Robitaille, Mayor of the City of Terrebonne and Warden of MRC Des Moulins ®; - Mr. Jean Séguin, Sous-ministre adjoint à la Métropole, Ministère des Affaires municipales, des Régions et de l'Occupation du territoire (MAMROT); - Mr. Gérald Tremblay, Mayor of the City of Montréal and President of the Board, Communauté métropolitaine de Montréal (CMM) ®; - Ms. Rita Tremblay, Vice President, Policy and Planning, Canada Economic Development for Québec Regions; - Mr. Gilles Vaillancourt, Mayor of the City of Laval and Vice President of the Board, Communauté métropolitaine de Montréal (CMM) ®. A full report of Montréal International's 2009 activities is available on its website: http://www.montrealinternational.com. About Montréal International Montréal International (MI) was created in 1996 as a result of a private/public partnership. Its mission is to contribute to the economic development of metropolitan Montréal and to enhance its international status. Its mandates include attracting foreign investment, international organizations and qualified workers, supporting the development of innovation and metropolitan clusters, and promoting the competitive and international environment of Greater Montréal. Montréal International is funded by the private sector, the Communauté métropolitaine de Montréal (Montréal Metropolitan Community), the City of Montréal and the Governments of Canada and Québec. Since its creation, Montréal International has helped to attract more than $7.5 billion in foreign investment to Greater Montréal. From these investments, more than 43 000 jobs have been created or maintained. To date, MI's activities have also allowed more than 25 international organizations to establish themselves in the city and attract more than 4 000 qualified foreign workers. To learn more, please visit MI Web site at: http://www.montrealinternational.com. For further information: Benoît Lefèvre, Communications Advisor, Montréal International, (514) 987-9323, [email protected] http://www.newswire.ca/en/releases/archive/April2010/15/c2834.html
  20. Ottawa is preparing to crack down on employment-insurance recipients who are not seeking work in areas where employers are forced to bring in foreign workers to fill jobs. Immigration Minister Jason Kenney said Wednesday the government wants to reduce disincentives to work by creating a “greater connection” between the EI program and the temporary foreign worker program, which is under Mr. Kenney’s purview. “What we will be doing is making people aware there’s hiring going on and reminding them that they have an obligation to apply for available work and to take it if they’re going to qualify for EI,” Mr. Kenney told the National Post editorial board on Wednesday. He was touting immigration reforms that will try to streamline the entry of immigrants and foreign workers, favouring entrepreneurs, innovators and those with high quality professional credentials. The reforms would require unemployed Canadians to accept local jobs that are currently being filled by temporary foreign workers. “Nova Scotia province-wide has 10% unemployment, but the only way Christmas tree operators can function in the Annapolis Valley is to bring in Mexicans through this agricultural worker program,” he said, also pointing to the increased number of Russians working in Prince Edward Island fish processing plants and Romanians working at the Ganong chocolate factory in New Brunswick. “Even on the north shore of New Brunswick, which has the highest unemployment in the province, the MPs keep telling me the employers definitely need more temporary workers. What’s going on here?” Minister of Human Resources Diane Finley will soon address the issue in further detail, Mr. Kenney said. The coming changes were first revealed in last month’s federal budget, which proposed spending $387-million over two years to align EI benefit amounts with local labour market conditions. The government will consider more measures to ensure the Temporary Foreign Worker Program will continue to meet those labour needs by “better aligning” the program with labour demands, according to budget documents. At the same time, businesses will have to have made “all reasonable efforts” to recruit from the domestic labour force before they seek workers from abroad. When an employer looks to the government for a labour market opinion, which is one step in getting approval to hire foreign temporary workers, Mr. Kenney said the government will soon point out the number of people on EI in that employer’s region and ensure the people collecting EI are aware of that job opportunity. “If you don’t take available work, you don’t get EI,” he said. “That’s always been a legal principle of that program.” http://news.nationalpost.com/2012/04/18/conservatives-want-unemployed-to-fill-jobs-going-to-temporary-foreign-workers-jason-kenney/
  21. Oscar Nominations came out this morning, and from what I can see, there are three Canadian nominations, all of which are for Quebecers! Denis Villeneuve's Incendies for Best Foreign Language Film http://montreal.ctv.ca/servlet/an/local/CTVNews/20110125/mtl_nomination_110125/20110125?hub=Montreal Adrien Morot for Best Makeup (Barney's Version) http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/20110125/barneys-version-oscar-nomination-110125?s_name=oscars2011&no_ads= Dean DeBlois for Best Animated Feature (co-director of How To Train Your Dragon) http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/20110125/oscar-nomination-110125/20110125?s_name=oscars2011