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16 May 2007
7 May was the 7th day of the eleventh month of Canadian national consciousness rising to invincibility, as indicated by the following press reports:
7 May 2007
Reuters Canada - Alcan bid sends Toronto stock index to record high (7 May 2007) The Toronto Stock Exchange's main index ended in record high territory on Monday, in a fourth consecutive session of solid gains and second-straight record. The TSX composite index ended the day up 95.62 points, or 0.7 percent, at 13,865.51, a record closing high. Earlier in the session it hit a record intra-day high of 13,896.94. Also supporting the market were the heavyweight financials sector. From a Bloomberg News report on this: Shares of lenders and construction related shares gained after a strong building permits report from Statistics Canada.
Reuters Canada - March building permits see record jump (7 May 2007) The value of building permits soared by a record 27.4 per cent in March to near historic highs, pointing to a robust construction industry. The monthly jump in building intentions was the biggest ever, and well ahead of the average forecast of a 6.7 per cent gain by analysts in a Reuters poll. Building intentions surged 25.6 per cent in the residential sector and 30.2 per cent in the non-residential sector in March. In the non-residential segment, a 43.1 per cent increase in commercial permits underpinned the gains. The quarterly value of permits was the second-highest ever after the fourth quarter of last year. From a Canadian Press report on this: In the residential sector, the value of permits rose to $3.7 billion, the highest level in five months. The total value for permits in March was 0.9 per cent higher than the monthly average during the last three months of 2006, which was the strongest on record. Both residential and non-residential intentions recorded widespread gains among the provinces. From a Bloomberg News report on this: Canadian building permits rose at their fastest pace ever in March. Canadian home prices rose to a record in March, according to the nation's realtor association. The data 'point to a recovery in corporate and consumer optimism,' Gorica Djeric of Scotia Capital Inc. in Toronto said. 'The results are consistent with a recent slew of favorable economic reports coming out of Canada.'
The Toronto Star - Realtors hit a sales record (5 May 2007) The Toronto resale homes market is on track for another near record year, says the Toronto Real Estate Board. April had 9,452 sales—the most recorded for a single month in the history of the board, and up 13 per cent over April 2006. 'The Greater Toronto Area's resale housing market has showed sustained strength and these phenomenal numbers bode well for the remainder of this year's spring market,' TREB president Dorothy Mason said.
Bloomberg News - Canada Dollar Reaches 11-Month High on Building Permit Data, Bid For Alcan (7 May 2007) Canada's dollar rose to an 11-month high as Alcoa Inc.'s $26.9 billion bid for Alcan Inc. bolstered optimism. The currency was also bolstered by news that Canadian building permits rose in March at the quickest pace ever. The currency rose 0.5 per cent to 90.75 U.S. cents at 3:55 p.m., from 90.27 U.S. cents May 4. The Canadian currency reached 90.85 U.S. cents today, the highest since June 13. The Canadian dollar has advanced 5.8 per cent this year, the second most of all 16 actively traded currencies after the Brazilian real. The Canadian dollar is nearing a 29-year high of 91.44 cents.
Bloomberg News - Hedge Funds Reverse Bets, Expect Canadian Dollar to Advance (4 May 2007) Hedge funds and other short-term speculative investors reversed their bets, indicating that they now believe that the Canadian dollar will gain against the US dollar as confidence in the economy increased. Economic growth quickened in February for a fifth month. The difference in the number of wagers on an advance in the Canadian dollar compared with those on a drop—so-called net longs—was 8,851 on 1 May, compared with net shorts of 1,63 a week earlier. It was the first time the market had a net long for the currency since October.
The Toronto Star - City's tough green plan okay with Tridel (5 May 2007) Tridel's Jim Ritchie has three pointed words for a Toronto plan to mandate green building standards by year's end: bring it on. Tridel and Mason Homes were named the Greater Toronto Home Builders' Association-Urban Development Institute's 'green' builders of the year. This is the first year the builders' association has handed out the award, given to the highrise and low-rise builder showing a firm commitment to sustainable, green building practices. Sean Mason of Concord-based Mason Homes, the low-rise winner, says that if you build energy-efficient homes, the public will buy for two reasons: the undisputed long-term savings and to play a role in aiding the environment. Ritchie says Tridel officials like to be 'ahead of the curve' when it comes to environmental standards. 'In fact, we believe we have to continue to raise that bar.' Bob Finnigan, president of the home builders' association, says Tridel, Canada's largest condo developer, is 'really pushing the envelope' in green condo construction in Canada, resulting in considerable energy savings for homeowners, adding that Mason is one of Canada's first low-rise home builders to go green. 'We did it because we saw a chance to do something better while getting some economic benefits for our business, as well,' Mason says.
The Toronto Star - India's top envoy bullish on Canada (7 May 2007) The bullish view of India that India's new high commissioner to Canada, R.L. Narayan, heard on his round of meetings with Canadian business leaders and this country's finance minister last week might have had something to do with his upbeat demeanour. As the world's 12th largest economy, projected to be fourth largest by 2025, 'India is increasingly being seen as the market of boundless opportunities and tremendous potential,' Jim Flaherty said at a dinner organized by the Canada-India Business Council. Canada is pushing ahead to remove barriers and forge links with India, with a view to a free trade deal in future, Flaherty said. 'So Canada's new government is determined we ensure we do what we can to further our relationship with India. Our government, along with the private sector, is focusing on India like never before. It's good for families and businesses in both countries.' Reflecting on the event, Mr. Narayan said, 'I was especially pleased to hear the declaration by the minister that India is a priority.' He also met with leaders of the GTA's Indo-Canadian community, whom he called 'a huge asset' to both countries.
These are a few of the news reports reflecting Canada's rising invincibility from the growing Yogic Flying groups across Canada and the Invincible America Assembly at Maharishi University of Management and Maharishi Vedic City, USA.
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