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12 April 2009
17 March was the 17th day of the ninth month of the 3rd year of Canadian national consciousness rising to invincibility.
17 March 2009
Dr William Overall, National Director of the Global Country of World Peace in Canada, presented highlights of news reports reflecting Canada's rising invincibility from Yogic Flying groups across Canada and the large Invincible America Assembly at Maharishi University of Management and Maharishi Vedic City, USA.
Extensive scientific research has documented the Maharishi Effect of rising coherence, harmony, and peace created in the collective consciousness of a nation by large groups of Yogic Flyers. The effect has been found to extend beyond national borders when the group is of sufficient size.
Following are press reports featured in Dr Overall's presentation:
The Canadian Press - TSX closes up for 13% gain over six days (17 March 2009) The Toronto stock market roared ahead Tuesday to a sixth consecutive session of solid gains as investors continued to snap up financial stocks. The TSX composite index closed up 172.89 points to 8,559.6, adding up to a 13 per cent surge over six days. The financial sector is up more than 28 per cent over that time. 'The rally is justified because [financials] have been beaten down and we're not seeing the same level of layoffs or loan losses or earnings impairment,' said Paul Vaillancourt, director of asset allocation at Franklin Templeton Managed Investment Solutions. The TSX financial sector moved ahead 2.4 per cent on Tuesday. The energy sector rose four per cent.
From a Bloomberg News report on this: The TSX Composite Index rose 2.1 per cent Tuesday. BlackBerry maker Research In Motion contributed most to the advance, rising 6.4 per cent. Royal Bank of Canada and Bank of Nova Scotia led gains among financial companies on the prospect of an economic turnaround. Royal Bank, Canada's biggest bank by assets, climbed 2.6 per cent, while Bank of Nova Scotia, the third-biggest, gained 3.1 per cent. 'There was an undue degree of pessimism over the banks,' said David Rea, chairman of Davis-Rea, which manages about C$400 million in Toronto. Canada's main stock benchmark rose 9.4 per cent for its biggest weekly gain since 2 Jan. last week.
Canwest News Service - B.C. residents optimistic despite financial storm (17 March 2009) More British Columbians expect their personal financial status to improve, rather than deteriorate, over the next year, according to a new poll conducted 26 Feb. to 8 March. While 56 per cent anticipate no real change, 25 per cent are optimistic their financial status will get better, according to the Mustel Group Market Research poll. Men 18 to 34 years old, those from above-average-income households, and residents of the Vancouver area and Victoria, were found to be more optimistic than others. The survey was released a day after a Scotiabank survey showed 45 per cent of Canadians had not changed their spending habits in the previous six months, while 36 per cent were spending more.
The Canadian Press on economy showing some encouraging signs (17 March 2009) American housing starts surged last month, U.S. wholesale sales edged higher, and Canadian factory shipments surprised on the up side. After months of reports where reality came in worse than expected, economists are taking some encouragement. And fewer analysts are speculating about a second Great Depression. In fact, U.S. Federal Reserve chairman Ben Bernanke all but guaranteed in a television interview Sunday that the danger of a depression had passed. Bank of Montreal's chief economist Sherry Cooper was one of the first to observe in writing recently that not all economic news is now uniformly grim. Cooper is particularly encouraged that bank stocks have been leading the equity market revival, since financial market turmoil led the world into the downturn and a sustained rebound isn't likely to happen without bank stability.
The Globe and Mail - Canadian banks begin to decline federal aid in first sign of recovery (17 March 2009) Canadian banks are turning down some of the funding that the government is making available to them, a sign that they are recuperating from the financial crisis. The banks have stopped selling the government the full amount of mortgages they could under Ottawa's C$125-billion mortgage purchase programme, the centrepiece of its plan to free up capacity for the banks to make new loans. 'We actually don't need a lot of funding right now,' a senior banker at one of the big five banks said. 'All of the Canadian banks are pretty flush right now with cash.' The programme has been successful in leading to a reduction in mortgage rates, with banks passing on their lower funding costs.
The Globe and Mail - Axed talent finds a home on Bay St. (17 March 2009) Bay Street (the Toronto financial district) is becoming a beacon of hope for financial workers set adrift by floundering firms around the world, with resumes pouring in to Toronto securities firms from bankers and traders in New York, London, and other financial hubs. The reason? Canadian securities firms aren't slashing jobs the way bigger rivals around the world are, and are using the opportunity to grab top talent. The result is that employment is holding up in Toronto's financial towers, at least in comparison to other countries. The number of people working in the Canadian securities business fell by 3.5 per cent in 2008 from 2007—which is a total of about 1,500 workers out of more than 40,000. Many of the lost jobs came as a result of foreign firms cutting back their Canadian operations. In Canada, 'there is a good deal of optimism relative to the rest of the globe,' said Bill Vlaad of Vlaad and Co., a Toronto firm that helps bankers and traders find jobs.
The Globe and Mail - Investors putting faith back into long-term funds (16 March 2009) Canadians invested more money into long-term funds than they took out in February, the first time since June that they've been willing to place a long-term bet on the future.
From a Financial Postreport on this: Canadian mutual funds recorded a second straight month of net inflows in February. Canadians invested almost C$1.7 billion in mutual funds in February, up from a C$1.2 billion rise in January.
The National Post - NB bucks trend with 'historic' tax cuts (17 March 2009) New Brunswick forged ahead on Tuesday with a 'courageous' plan to slash taxes. The C$380-million scheme, to be phased in over the next four years, will push the province's corporate income tax rate to the lowest in the country while shedding two brackets from the personal income tax system. 'Historic times call for historic measures,' Premier Shawn Graham said. The programme's keystone is a simplification of the personal income tax structure, moving from a four-rate, four-bracket system to two rates of 9% and 12% by 2012. Corporate income tax rates will fall to 8% from 13%, and other changes will be aimed specifically at small businesses, including a move to increase the eligibility limit to C$500,000 from C$400,000.
From a Globe and Mail report on this: 'The tax measures I have announced today will considerably improve New Brunswick's competitiveness and will move us forward on our self-sufficiency plan,' Finance Minister Victor Boudreau said. 'They will also help stimulate the economy and position us for even stronger economic growth as we recover from the current economic slowdown.'
From a CBC News report on this: The province's business community is embracing the four-year plan. 'Certainly, we are all well aware a large part of the economic downturn in our country, at least, is a perception issue,' David Plante, vice-president of Canadian Manufacturers and Exporters' New Brunswick division, said. 'So being able to tout New Brunswick as having the lowest corporate income taxes in the land will certainly go a long way in improving that perception. The measures taken today will resonate throughout boardrooms from coast to coast.'
The Globe and Mail - Halifax caught in a Class A squeeze (17 March 2009) When Bermuda-based reinsurance company Flagstone Reinsurance Holdings was looking around the world four years ago for a spot to house a new data management centre, downtown Halifax became the perfect pick. With three local universities, the city offered the fast-growing company a highly educated work force, as well as the information technology infrastructure it needed. In recent years, the provincial economic development agency, Nova Scotia Business Inc., has successfully lobbied major finance and IT companies such as Waterloo, Ont.-based BlackBerry maker Research In Motion and Bermuda-based finance giant Butterfield Fund Services to set up offices in Halifax. Research firm Colliers International has pegged the vacancy rate for Class A space at 1.3 per cent, an historic low in downtown Halifax. Class A office vacancy rates in downtown Vancouver, Calgary, and Ottawa are also very low.
The Halifax Chronicle Herald - Midwives join maternity-care teams in three parts of province (17 March 2009) Publicly funded midwives will soon be assisting women in Nova Scotia with pregnancy and delivery. The Midwifery Act, which was passed by the legislature in November 2006, comes into effect Wednesday. 'We are moving toward teams of health-care professionals working together to provide care to Nova Scotians in their communities,' Health Minister Karen Casey said. 'Midwives are key team players in providing the right care to mothers and their families.'
The Globe and Mail on Toronto mayor seeks to boost grants for arts and community groups (17 March 2009) Toronto Mayor David Miller's proposed budget calls for a C$2-million boost to the city's grants programme for arts and community groups. The proposed budget increases funding for the city's community partnership and investment programme to C$45 million for 2009, up from C$43 million in 2008. Some grants support major cultural institutions and events. Much of the increase, however, would go toward youth outreach programmes in 'priority neighbourhoods' and an expansion of a school meals programme. The grants also support small community agencies that, among other things, run training for immigrants. The mayor said programmes funded by the grants 'work literal miracles in people's lives'.
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