Federal Reserve’s policy direction. Smartphone maker BlackBerry grabbed much of the Toronto market’s attention after it signed a tentative deal to be acquired by a consortium led by its biggest shareholder, Fairfax Financial Holdings Ltd, for $4.7 billion. BlackBerry stock, which was down nearly 7 percent in early trading, rebounded after news of the deal and ended the day at C$9.08, unchanged from Friday’s closing price. On Friday, the company said it will report a huge quarterly loss and cut more than a third of its global workforce. Fairfax closed up 1.1 percent at C$420.45. More generally, the market was encouraged by a slew of surveys that showed a burst of new orders for businesses in China and Europe, suggesting a rebound in those economies. In Germany, Merkel began trying to persuade her center-left rivals to keep her in power after her conservatives notched up their best election result in more than two decades but fell short of an absolute majority. The market remained focused on the Fed’s next steps after the U.S. central bank surprised markets last week by keeping its stimulus program fully in place. “Overall the tone is positive,” said Elvis Picardo, strategist and vice president of research at Global Securities in Vancouver. “There’s a lot of money on the sidelines. We’ve been telling our clients to get in.” The biggest gains were recorded in the telecoms sector. After top U.S.
Canada Keen To Collaborate With India On Cyber Security
Canadian High Commissioner Stewart Beck, while speaking in a function here said, India would require 5,00,000 people in cyber security while Canada has ten educational institutions in the province of Ontario alone that provide programmes on cyber security. “We believe both the countries have some strengths and we need to work together utilizing them…We have ten educational institutions in the province of Ontario alone that provide programmes on cyber security. This is how we can collaborate with India,” Beck said. He said that Canada can be excellent partners with India in areas food security, energy security, education and infrastructure. Talking about Canadian pension funds, Beck said his country believes that India provides the long term secure and stable capital investment and as Canada has the strongest pension funds in the world; it wants these funds to come to India. He said that last week representatives of five largest Canadian pension funds were in India to talk about how to bring Canadian capital in this market. Those five funds alone represent around 700 billion dollars of investable capital. The Canadian financial system survived the 2008 financial crisis. “One of the concerns that the Canadian pension funds have is the taxation system in India. India has layers of tax. Canadians do not have any problems in paying tax. Already some Canadian pension funds have invested in India and although not large investments, but by normal standards its pretty large and we want to bring in more because we see the opportunities,” said Beck. Beck said pension funds do not need to have a 70 per cent return on a long term basis but a 8-10 per cent. “As long as one can have that in a relatively risk free environment, I see a good future in India,” he said.
Canada records second rout of FIBA Americas tournament, beating Chile 93-51
Shona Thorburn added 18 points, while Justine Colley finished with 16. Gaucher (formerly Kim Smith) also had a team-high six rebounds and three steals. The Canadians, who cruised by Jamaica 75-37 in their opener on Sunday, are tied with Cuba atop Group A. They had their way with Chile on Tuesday, racing out to a 28-10 lead after one quarter and taking a 49-19 advantage into the dressing room at halftime. Canada led 66-41 with a quarter left to play. Chile, with previous losses to Venezuela and Cuba, dropped to 0-3 on the tournament. The Canadians face Venezuela on Tuesday, and then wrap up round-robin play versus Cuba on Wednesday. Canada needs to finish in the top three in order to qualify for the 2014 FIBA world championship. The Canadian women have appeared in the previous two world tournaments, in 2006 and 2010. Sports & Recreation WASHINGTON (AFP) – The Obama administration warned US federal agencies to prepare for a possible government shutdown that could hobble the US economy, as Congress wrangled over a fast-approaching budget deadline. AFP QINGDAO, China (AP) China’s richest man plans to spend 50 billion yuan ($8.2 billion) to build the country’s version of Hollywood in the northeastern city of Qingdao. Associated Press CANBERRA, Australia (AP) A tiny Asian snake was found on a Qantas Boeing 747 airliner in Australia, leading to 370 passengers being grounded overnight. Associated Press