Canada apple of investors' eyes

Nicolas Van Praet, Financial Post • Friday, Jan. 14, 2011

While the European nation is a financial basket case that needs an estimated 20-billion ($26.42-billion) to stay afloat this year, Canada is in many ways the object of the world's desire, the popular girl with attractive assets and prudent fiscal policy everyone wants to dance with. Barely two weeks into 2011, our frosty country has been swept up in a wave of mergers, foreign investment and international attention as the prices of commodities soar, the loonie jumps above US$1 and the economic recovery gathers steam. ...more

Canada, U.S. trade surge: the details

John Shmuel February 11, 2011 - 12:53 pm

In one economist's words, "wowsa!" was the only way to describe Canada's trade surplus for December.

The country posted a 9.7% jump in exports for the month, pushed higher on the back of energy products and lifting the monthly figure to $37.8-billion. In comparison, imports rose 0.7% to $34.8-billion, giving Canada an impressive $3-billion surplus.

It was a different story south of the border. While the U.S. trade deficit widened less than expected, it still hit its highest level in four months. The reason? ...more

Canada Is Best Place to Invest

22 February 2011

The Honourable Josée Verner, Minister of Intergovernmental Affairs, President of the Queen's Privy Council for Canada and Minister for La Francophonie, today highlighted the economic growth and jobs created by the Harper Government's low-tax plan. The Government emphasized its support for keeping taxes low and freer trade, which open markets and attract investment.

Speaking at Vitrerie Beaulieu Inc. in Lévis, Minister Verner said, "The economy remains our Government''s number one priority. This is why we are keeping taxes low for job creators everywhere in Canada: to grow our economy and ...more

Canada's economy is back on track

February 28, 2011

Canada's economy just keeps putting smiles on analysts' faces.

The latest pleasant surprise was the revelation that this country not only grew faster than many had thought last year, but seems poised for a repeat performance in 2011.Economic growth in the fourth quarter was a robust 3.3 per cent, Statistics Canada said yesterday, better than most forecasters anticipated.

And by the way, the StatsCan numbers revealed, a mid-year slump in the third quarter wasn't as bad as first estimated: growth chugged along at 1.8 per cent, nearly twice the 1.0-per-cent ...more

Corporate taxes

January 12, 2011

Flaherty gets it right

Four years ago, federal Finance Minister Jim Flaherty set out to cut corporate income tax rates in Canada. The idea was to increase investment, create jobs and ensure Canadian companies could remain competitive. The strategy is paying off. Initially, the rate was 21 per cent, then 18 per cent and on Jan. 1 it went down to 16.5 per cent. Next year the rate will go down to 15 per cent. As Flaherty has said, if jobs are going to be created then corporations need to remain financially healthy. "If we ...more

Canadian housing prices set to rise in 2011

Jan 06 2011

A new survey says Canada's real estate market is heading into a stronger-than-expected year that will likely see home prices steadily rise, while overall transactions moderate.Royal LePage reports that average home prices are expected to rise three per cent to $348,600 in 2011, while the number of transactions is predicted to fall two per cent.The survey also found that average house prices rose between 3.9 per cent and 4.6 per cent in the fourth quarter of 2010.Royal LePage said that price appreciation is expected to continue a moderate and ...more

BACON: Go north, young man, go north

Canada is quietly surpassing the U.S. as the land of opportunity 

January 4, 2011

While we have every reason to fear the disorder spilling over from our increasingly lawless neighbor to the south, our well-mannered Canadian neighbors have pulled their act together. We could learn a lot from them.Look what's not happening in Canada. There is no real estate crisis. There is no banking crisis. There is no unemployment crisis. There is no sovereign debt crisis. Among the Group of Seven nations, which also include the United States, France, Japan, Germany, ...more

Thanks to a low corporate tax rate, prospects for the economy are high

January 6, 2011

Here's a news flash for those Canadians who are less optimistic about the Canadian economy in 2011 - in relative terms, we've never had it so good.

A survey by Pollara, released Thursday, suggested that when compared to virtually all of its rivals, Canada in better shape than it has ever been."Canada's international reputation as a destination for capital and investment is better than it has been for a generation," said Finn Poschmann, vice-president research at the C.D. Howe Institute.And as Craig Wright, chief ...more

Strengthening Economic Recovery and Low Interest Rates Point to a Stronger Than Anticipated 2011 for Housing Market

Prospect of rising mortgage rates may prompt heightened buyer activity early in the year, according to Royal LePage forecast

TORONTO, January 6, 2011 - The average price of a home in Canada increased between 3.9 and 4.6 per cent in the fourth quarter of 2010, compared to the previous year, as markets returned to a post-recession growth profile. Home values are forecast to continue a moderate and steady climb in many of the country's key housing markets through 2011 with sales activity ...more

Halifax fared better than most

Thu, Dec 2

Report expects overnight visits to rise by 1.7%

The tourism industry in Halifax fared better this year than the sector did in seven major Canadian cities, says a new report.The Conference Board of Canada's travel markets outlook released Wednesday says that total overnight visits to the Halifax area are expected to grow 1.7 per cent in 2010.Board projections show there will be almost 1.5 million overnight visitors to the Halifax area in 2010, generating $588 million in revenues from transportation, accommodation, food and beverage, and other services.Jeff Ransome, president of the ...more

Canada ousts Oz and nabs 'best country brand'

After the most recent - and frankly embarrassing - advert from the Australian tourism board, in which Aussies were portrayed as a 'nation of tone-deaf bogans,' (their words not mine), it's little surprise that Canada has jumped ahead in the tourism brand stakes...According to New York-based brand consultancy FutureBrand, which compiles an annual country brand index, Canada has bypassed Australia to take the title of world's best brand.In order to put together the FutureBrand 2010 Country Brand Index - which is presented in partnership with BBC World News - more than 110 ...more

Good News for All Canadians: World Economic Forum Again Ranks Canada's Banks as the World's Soundest

Posted on 09/09/10

TORONTO, ONTARIO--(Marketwire - Sept. 9, 2010) - The Canadian Bankers Association (CBA) hailed today's report from the World Economic Forum, which ranked Canada's banking system as the world's soundest for the third consecutive year, as good news for all Canadians.

"To again be named the soundest banking system in the world is positive for all Canadians. A steady and secure banking system is an important contributor to Canada's economic recovery and long-term growth," said Nancy Hughes Anthony, President and CEO, ...more

Canada No. 1 in global survey of countries with the most favorable brand

Fri Nov 5

MONTREAL - Canada was picked No. 1 in a global survey of countries with the most favourable brand, thanks to a boost from the Vancouver Olympics.A strategy to put the country on the top podium was actually devised years before the Winter Games.It involved having a Bollywood star carry the Olympic Torch; bringing an NBC sports reporter to Churchill, Man., to watch polar bears; and taking foreign journalists on wine tours.Canada has climbed steadily over the last few years, from a 12th-place ranking ...more

Canada, China reach deal on insurance investment

Wed Nov 10

China's insurance regulator has cleared the way to let the country's insurers invest billions of capital in Canadian financial markets, the Canadian government said on Friday.The move, the latest sign of improved trade and financial relations between the two countries, follows a similar rule change by China's banking regulator in April."Under this agreement, Chinese insurance companies will be permitted to invest in Canada, giving Canadian financial markets access to a potential pool of about C$106 billion ($106 billion) in investment capital," Finance Minister Jim Flaherty said in a statement.Ottawa said ...more

Small Business Week Focuses on Innovation, Growth

Canada is recognizing the contributions of its entrepreneurs to the Canadian economy during Small Business Week (Oct. 17-23) with a focus on encouraging companies to boost their success through innovation.

"Power Up Your Business. Invest. Innovate. Grow." is the theme of the week, which is organized every year by the Business Development Bank of Canada (BDC).

A BDC survey released on Wednesday says that 74 percent of small business owners in Canada consider innovation a priority. In western Canada the proportion goes up to 80 percent.

While 40 percent saw customer service as ...more

Province invests $10 million in small business

Published on October 21st, 2010

Small business will continue to get much-needed support through the province's partnership with Nova Scotia credit unions after a $10-million loan announced Oct. 21.

"This new loan will increase participating credit unions' access to capital for loans to Nova Scotia's small and medium-sized businesses, helping to create good jobs and grow the economy," said MLA Michèle Raymond, on behalf of Economic and Rural Development Minister Percy Paris. "We are pleased to continue our work with Nova Scotia credit unions, supporting the sustainability and success of small businesses ...more

Record number of foreign students in Nova Scotia public schools and universities

Matthew Carroll October 12, 2010

This coming academic year will be one for the record books for the province of Nova Scotia.The number of foreign students coming to study at high schools and universities across the province has steadily risen over the past five years, with this year marking the highest ever rates of foreign student attendance.

As of 2010, the public school system reports 725 international students currently, and a total of 900 expected by the end of the year. Most students inhabit rural communities, and ...more

Canadian House Prices Record ‘Normal' Year-Over-Year Growth According to Royal LePage House Price Survey

Third-quarter results show Canadian house prices appreciating at close to the long-term annual norm of five per cent per year

TORONTO, October 19, 2010 - Canada's residential real estate market saw year-over-year growth in the third quarter as fears of a double dip recession or a housing bubble faded. According to the Royal LePage House Price Survey released today, house price appreciation slowed to a more modest five per cent in the quarter, which is historically typical of balanced real estate markets.

"Most Canadian housing markets ...more

Favourable U.S. data suggests Canadian rate increase

OTTAWA • What a difference a week makes in gauging the state of the Canadian economy.

At the start of last week, few market players believed the Bank of Canada would raise its benchmark rate on Wednesday as concern over its largest trading partner, the United States, mounted. The U.S. economy was believed to be on the verge of flirting with a double-dip recession, given the spate of weak economic data traders had grown accustomed to over the summer.

But two key U.S. pieces of August data released last week - the ISM ...more

G20: Why we all want to be Canadian now

Friday, 25 June 2010 08:40 UK

By Caroline Hepker

BBC World Business Report, Ottawa

Canada managed to avoid the banking collapses suffered elsewhere.

Even on a rainy weekday at Ottawa's By Ward market, Canadian shoppers are cheery. As Americans and Europeans face deficits and drastic government cuts, Canada's economy is recovering from only a mild recession.

Sheltering near the maple syrup stall, local restaurant promoter Melissa Grecco says Canada escaped the fate of the US.

"We felt the effects on corporate bookings, companies not spending money on staff or ...more

Nova Scotia: House sales on the rise in HRM

By Alex Boutilier, Metro Halifax

Source: Metro Halifax, June 22, 2010

[HALIFAX, NS] - Housing sales in HRM spiked this spring according to numbers released yesterday by the Nova Scotia Association of Realtors.

During the period between March and May, 1,925 single-family residential homes were sold in Halifax and Dartmouth - a 16.9 per cent increase over the same period last year.

According to NSAR president Karen Edwards, the increase in sales reflects increased consumer confidence that the global recession may finally be receding.

"People are becoming much more comfortable after ...more

Canada's economy is suddenly the envy of the world

By ROB GILLIES (Associated Press) - 21st June 2010

TORONTO - Canada thinks it can teach the world a thing or two about dodging financial meltdowns.

The 20 world leaders at an economic summit in Toronto next weekend will find themselves in a country that has avoided a banking crisis where others have floundered, and whose economy grew at a 6.1 percent annual rate in the first three months of this year. The housing market is hot and three-quarters of the 400,000 jobs lost during the recession have been recovered.

World ...more

"Canada's Economy Has a ‘Spring' in Its Step"

www.tumblerridgenews.com

Wednesday June 16, 2010

It's only natural that we remain cautiously optimistic about any signs of economic recovery. The impact of the global economic recession is still fresh. Yet, it's equally important to recognize the gains we do experience to give us the confidence we need to fuel even further growth.

And so last week Canadians embraced the Statistics Canada report that 24,700 new jobs were created in May, the fifth straight month of job gains. Canada's unemployment rate is now 8.1%. Since July of last year Canada has created almost ...more

RBC predicts rapid economic growth after record first quarter

By Neil Haesler, Financial Post June 10, 2010

Canada's economy is expected to surge in 2010, according to a new report from RBC Economics, which predicts gross domestic product growth of 3.6 per cent as a result of strong demand and increased job creation.

RBC says Canada's real GDP grew at 6.1 per cent in the first quarter, the fastest pace in a decade.

"Canada's economy continued to surge ahead as domestic demand was backed by increases in consumer, housing and government spending," said Craig Wright, senior vice-president ...more

Canadian companies fuel job growth, while U.S. disappoints

June 4, 2010 | 11:12

by Sharon Singleton | Money

Canadian employers hired more workers than they fired for the fifth straight month in May, while south of the border a look behind the headline figures revealed an economy still struggling to boost employment, economists said.

The Canadian economy added 25,000 jobs in May, topping economists' forecasts for a gain of about 15,000, Statistics Canada said Friday.

The May gains follow a record-setting month in April. The private sector accounted for the bulk of the hiring taking on 43,400 workers ...more

Folly for Britain to use Canadian economic model

The StarPhoenix June 8, 2010

To all appearances, Great Britain seems to be bracing itself to take centre stage in a South Park episode of "Blame Canada."

Prime Minister David Cameron warned Britain on Monday that it was about to embark on an unprecedented round of cuts that will impact on everyone's "whole way of life." While the fault of the crisis lies with the previous Labour government, he said, the solution can be found in Canada.

Although he leads a Conservative party, Mr. Cameron made it clear that his ...more

Record-breaking growth by Canadian economy

1 Jun 2010, 1337 hrs IST,IANS

TORONTO: Posting the highest growth rate in more than a decade in annualised terms, Canada's economy grew 6.1 percent in the first quarter of the current fiscal year.

With the highest growth among G8 countries, the Canadian economy has now almost reached levels seen before the global meltdown hit it in 2008.

In fact, the current rate makes the Canadian economic growth twice that of the US.

The swift economic recovery was fuelled by growth in all sectors, including housing, manufacturing, exports and household incomes ...more

Canada raises interest rates

By: Rob Gillies

The Associated PressJune 2, 2010

TORONTO - Canada on Tuesday became the first Group of Seven nation to raise interest rates since the global financial crisis, but said any further hikes would depend on global economic conditions.

The Bank of Canada increased its key interest rate by a quarter point to .50 percent from a record-low rate of .25 percent.

The bank said thus far the impact of Europe's sovereign debt crisis in Canada has largely been limited to a modest fall in commodity prices.

It said the decision to raise ...more

Canadian Growth Was Most in a Decade in First Quarter

May 31, 2010

By Greg Quinn- Bloomberg

May 31 (Bloomberg) -- Canada's economy expanded at the fastest pace in a decade in the first quarter, led by consumer spending and manufacturing, increasing pressure on the country's central bank to raise interest rates tomorrow.

The central bank will probably raise its key interest rate to 0.5 percent tomorrow from a record low 0.25 percent, a majority of economists say, the first increase among the Group of Seven since last year's global recession. Governor Mark Carney has said a faster-than-expected recovery will ...more

Jim O'Neill, Goldman's Top Economist: Canada Is A 'Shining Example' Of How To Avert A Debt Crisis

www.huffingtonpost.com

06- 2-10 08:43 AM

Goldman Sachs's top economist has a message for countries struggling with ballooning deficits: steal a page from Canada's economic playbook.

"Perhaps Canada is a shining example for many countries under pressure," Jim O'Neil told CNBC in an interview this morning. Yesterday, in a sign that its economy has turned a corner, Canada became the first country in the G-7 to raise interest rates since the financial crisis took hold.

Canada, which has been buoyed of late ...more

Canada - Minister Van Loan Touts Canadian Economy on World Stage

www.international.gc.ca

The Honourable Peter Van Loan, Minister of International Trade, today in Shanghai announced Invest in Canada Week to attract foreign direct investment. The investment week will take place at the Canada Pavilion in October, during the Expo 2010 Shanghai China world's fair.

"The world has taken notice of Canada's enduring financial strengths and economic advantages," Minister Van Loan told a Shanghai audience of business leaders and potential investors. "Our government will continue to highlight Canada as the best place to do business in the G-7. The Invest in ...more

Financial Post May 31, 2010

Canada's economy grew at a faster pace than expected in the first quarter of 2010, led by consumer spending, Statistics Canada reported Monday.

OTTAWA - Canada's economy grew at a faster pace than expected in the first quarter of this year, led by consumer spending, increasing the possibility of an interest rate hike Tuesday by the country's central bank.Gross domestic product rose at an annualized pace of 6.1 per cent between January and March, the biggest jump since the last quarter of 1999, Statistics Canada reported Monday. Growth ...more

Canada's economy keeps roaring ahead   Jeremy Torobin

OttawaTorontoTuesday, Jun. 01, 2010 11:31AM EDT

The Canadian economy, already the envy of the Group of Seven, is within striking distance of returning to its pre-recession peak.

Fuelled by a hot housing market, a rebounding manufacturing sector, higher incomes and a mini-hiring boom, the economy expanded in the first three months of the year at the fastest annualized pace in more than a decade. The stronger-than-expected 6.1-per-cent rate reported by Statistics Canada Monday was more than twice the rate of growth in the United States in the same period. ...more

Canadian Economy Leads the Way

Wednesday 21st April 2010

The Bank of Canada has today suggested that Canadian base rates will rise in the short to medium term as the economic recovery is curtailed. As with some countries around the world, there are fears that inflation is rearing its ugly head, and this needs to be addressed in the short-term. This will also likely be the first time that the Bank of Canada has increased base rates for the country ahead of any lead by the US Federal Reserve.

The Canadian economy has been one of the strongest performers ...more

What Great Recession? Canada Averted Long, Deep Slump

April 15, 2010 By Theophilos Argitis

April 15 (Bloomberg) -- Canada's recession was one of the country's shortest since World War II, and less severe than the two previous slumps, Statistics Canada said today."In some countries, the severity and the length of the contraction earned it the moniker of ‘The Great Recession,'" Philip Cross, who tracks the country's business cycles for Statistics Canada, said in a report. "Canada, in contrast, experienced a recession that was less severe."

Canada's economy, which started contracting in the fourth quarter of 2008, emerged from its ...more

IMF Says Canada's Economy to Lead G-7 in Growth in 2010, 2011

April 21, 2010, 9:28 AM EDT

Alexandre Deslongchamps

April 21 (Bloomberg) -- Canada's economy will grow the fastest among Group of Seven countries in 2010 and 2011, the International Monetary Fund said in its World Economic Outlook report.The U.S.'s biggest trading partner will expand 3.1 percent in 2010 and 3.2 percent in 2011, the IMF said today. The U.S. will match Canada's growth this year before falling behind in 2011. In January, the IMF predicted that the Canadian economy would grow 2.6 percent this year and 3.6 percent ...more

Canada leading the economic recovery of G20 nations: Finley

By BRYN WEESE, Parliamentary Bureau

Last Updated: April 22, 2010 2:49pm

OTTAWA - Canada is "clearly" leading the G20 out of the recession, Minister of Human Resources and Skills Development Diane Finley told QMI Agency.

Finley was in Washington, D.C., this week to meet with her counterparts in the other G20 countries to discuss the strength of their respective workforces and how to combat high levels of unemployment, which could hinder the global economic recovery.

Canada's unemployment rate has remained steady at 8.2%, but the situation is far worse in other ...more

Canada's Resilient Economy -The Goldilocks Recovery

Strict financial regulation and a new commodity boom have turned "boring" Canada into an economic star

May 6th 2010 | OTTAWA | From The Economist

THEIR economy is so intertwined with their neighbour's that when the United States plunged into recession, Canadians assumed they would be dragged along for the ride. Newspapers took to illustrating their economic stories with pictures of Depression-era bread lines. Yet whereas the United States has still not officially declared its recession over, Canada is nine months into recovery from its mildest and shortest downturn in recent history. Unemployment ...more

OECD finds Canada's economy a 'safe haven'

May 26th

PARIS - Canada could be considered a "safe haven" in a global economy experiencing better-than-expected growth but facing two ominous risks, the Organization for Economic Co-operation and Development said Wednesday.

The twin dangers are excessive debt, particularly in Europe, and the overheated economies in emerging markets such as China and India.

"This is a critical time for the world economy," said OECD Secretary-General Angel Gurria, who heads the government-funded body that conducts research for 31 member countries in Europe, North America and Asia.

Canada's overall assessment was positive, thanks to ...more

Canadian dollar inches toward parity with U.S., reaches 99 cents

March 17, By Andrew Moran.

The Canadian dollar went above 99 cents today before dropping back but it is still continuing to chase parity with the troubled United States dollar.

Toronto, Canada - On Wednesday, the Canadian loonie hit the 99-cent U.S. mark and went even above to 99.02 before it slid back down to 98.97 cents, which is the first time since July 2008 it has reached that level, according to Reuters. The spike in the Canadian Dollar came as commodity prices increased and the expectance of a ...more

Canada produces a rare economic hat trick

By JAY BRYAN, The Gazette March 18, 2010

Canada's economy pulled off a rare hat trick this week, with stunningly strong performances in not one or two, but three different measures of this country's economic recovery.

Can it continue? Quite likely it can, if your definition is that our economy keep outperforming those of most other industrial nations. The current torrid pace of growth, though, is likely to taper off somewhat.

The latest sign that forecasters have underestimated the vigour of Canada's rebound came yesterday, when we learned wholesale sales ...more

The forecast for Canada just keeps getting sunnier

Jay Bryan 20th March

"Most of the reason for our happy situation is a more resilient economy than we had expected."

We've kind of gotten used to the idea that last year's serious recession is over and things are moving back toward normal. What we may not have noticed is that they could be improving faster than we expected.

Yesterday saw the latest in a long string of upgraded economic forecasts for Canada when Douglas Porter, deputy chief economist at BMO Capital Markets, bumped up his forecast for the first quarter ...more

In Canada, Real Estate Is Booming

By IAN AUSTEN

Published: March 19, 2010

OTTAWA - Marie-Yvonne Paint, a real estate agent in Montreal, has the kind of problem most of her counterparts in the United States can only dream about.

A property for sale in the Outremont section of Montreal. Its owners are asking $6.3 million amid rising real estate prices.

"We have a shortage of inventory right now," said Ms. Paint, who focuses on the exclusive and expensive municipality of Westmount. "It's very annoying. We have buyers ready to buy and not much to show."

Ms. ...more

Canada's GDP growth to top G7 in 2010

Monday, March 22, 2010 Canada's economy should grow faster than western Europe, Japan and the United States, according to a new forecast by the Quebec-based Desjardins Group released Monday.

That is because the country's domestic economy is in better shape than almost any other western industrialized nation, said economists.

"Its strong economy makes Canada a special case," said the report.

Decent demand for new products and services by Canadian consumers and corporations in 2010 means that the country will not be overly reliant on stagnant overseas markets for improved sales, Desjardins said. ...more

Canadian Stocks Gain as Economic Indicators Show Recovery

March 23, 201 By Matt Walcoff

March 23 (Bloomberg) -- Canadian stocks rose for a second day, led by financial shares, after the country's index of leading economic indicators advanced for a ninth month. Base- metals producers rallied after an acquisition in the industry.

Royal Bank of Canada climbed 1.1 percent as bank stocks climbed to a two-and-a-half-year high. FNX Mining Co. rallied 2 percent after announcing a deal to be bought by Quadra Mining Ltd. BlackBerry maker Research In Motion Ltd. gained 2.2 percent on speculation its results will beat forecasts. ...more

Canadian economy adds 21,000 jobs in February

Unemployment rate slides to lowest level since last April

Friday, March 12, 2010

Investment Executive

By Julian Beltrame

Canada's recovering economy continued to churn out new jobs last month, adding 60,000 full-time positions - mostly in the public sector and many filled by men aged 55 or more.

The February unemployment rate of 8.2% was the lowest reported by Statistics Canada since last April, before the country began to recover from a major recession.

The agency noted that the gain in full-time jobs - including 26,000 filled by men in the ...more

Job market and housing lead robust economic rebound

Paul Waldie, Richard Blackwell and Bertrand Marotte

March 26 2010

The Canadian economy has caught fire much quicker than expected, with home building, hiring and even car buying surpassing the most optimistic forecasts.

While observers were once predicting 2010 would be a year of slow growth and high unemployment, the past few weeks have seen better-than-expected indicators on almost every economic front.

Auto sales, housing starts and job creation all came in higher than forecast in the past month, and Canada's trade surplus reached its best level in a year in ...more

Resale Home Pace Expected to Grow By Marty Hope, Calgary Herald, March 27, 2010

With the Canadian economy bouncing back stronger than most experts expected, resale housing activity is predicted to increase along with it.

Due to continuing affordability, the Canadian Real Estate Association (CREA) is calling for a national sales increase of more than 13 per cent this year compared to 2009.It predicts about 527,300 resale homes will likely change hands this year -- a total that would surpass the existing 2007 record by 1.2 per cent.

Canada's economic health is improving at a faster pace than predicted, ...more

Chinese Investors eye Canadian Housing Boom

February 14th, 2010

Forget about competing with the family up the street the next time you bid on a new home - the real competition may be sitting at a computer in Shanghai.

With their government worried about a domestic housing bubble, more mainland Chinese investors are looking toward Canada's booming housing market as a haven for their dollars.

"The world continues to get smaller and smaller," said Don Lawby, president of Century 21 Canada Ltd. "There's investment coming from all over the world, but especially from countries that have any sort ...more

The Canadian Century?

Tuesday February 16, 2010

In 1904 Canadian Prime Minister Wilfred Laurier made this prediction: "The 19th century was the century of the United States. I think we can claim that it is Canada that shall fill the 20th century."

Maybe Laurier was just a man 100 years before his time. As the world assembles in Vancouver for the Winter Olympics, the 21st century is shaping up great for Canada. For starters, Canada has avoided many of the problems that currently bedevil the U.S.-mountains of public debt, a banking system in crisis, the housing debacle and a weakened ...more

Investment Credit Program Strengthens Competitiveness of Nova Scotia Businesses

Economic and Rural Development

February 19, 2010 11:58 AM

The province has introduced a program that will strengthen the competitiveness of Nova Scotia's manufacturing and processing sector and help stimulate the province's economy.

A new 10 per cent investment credit will allow businesses to improve operations and become more competitive, more productive and more sustainable.

"Nova Scotia businesses are facing critical changes and an increasingly competitive environment," said Economic and Rural Development Minister Percy Paris. "At a time when the economy needs stimulation, this investment is a strong signal of support ...more

Canada's economy grows more than expected

Jan 29th 2010

OTTAWA -- Canada's economy grew more than expected in November, led by the wholesale trade and oil and mining sectors, Statistics Canada reported Friday. Gross domestic product rose 0.4% during the month, the third consecutive monthly increase, the federal agency said. "As was the case in September and October, most major industrial sectors increased their production," it said.

"Mining and oil and gas extraction, and wholesale trade accounted for about 60% of the overall growth," the agency said. Goods-producing industries were up 0.6%, while the services sector increased 0.4%.

Economists had ...more

Canada's Real Estate Market Continues Strong Rebound

Wednesday, January 13, 2010

Canada's real estate market continues to rebound, and property investment is quickly regaining its appeal, sparking a turnaround and driving housing sales and prices from Toronto to Montreal and Vancouver. The momentum from 2009's strong finish, spurred by attractive lending rates and renewed consumer confidence, should carry over to the first half of 2010. See the following article from Property Wire for more on this.

Vancouver, CanadaThe residential real estate market in Canada is expected to remain unusually strong through the first half of this year after ...more

Canadian economic indicators up 0.9% in January

Friday, February 19, 2010

OTTAWA - Canada's composite of leading economic indicators was up 0.9% in January, Statistics Canada said Friday.

That was less than the 1.1% gain expected by economists and the 1.5% jump seen in December.

However, that was in line with the average increase over the previous eight months.

Eight of the 10 components of the index were ahead in January, and the two that declined were related to manufacturing.

The strongest element of the index was household spending, the measure for which rose 1.3%. ...more

CONDO PRICES RISING 15% SAYS ROYAL LE PAGE Q3 SURVEY

STRONG DEMAND for condominiums and bungalows is pushing up prices for those types of properties in Halifax, says a Royal LePage survey.

Released Thursday, the survey said those types of properties had the greatest year-over-year price increases, with the price for a standard condominium up 15.4 per cent to $191,000 and the price of a standard bungalow up 13.9 per cent to $241,000.

The price for a standard two-storey home was up only marginally, with an increase of 3.9 per cent to $265,333.

New condominium projects have helped jack ...more

Canada to lead global recovery: IMF

The IMF declared Thursday that Canada will lead the developed world in a budding global recovery on the same day that Canada and its Group of Seven peers prepared for a summit in Istanbul aimed at preventing financial crises of the future.

"The recovery has started," said International Monetary Fund chief economist Olivier Blanchard.

"In most countries, growth will be positive for the rest of the year, as well as in 2010."

The ...more

EMPLOYMENT NUMBERS RISE AGAIN19th May 2008

HALIFAX - Canadian employment edged up slightly in April with 19,000 additional jobs in the workforce, similar to the increase observed in March, according StatsCan numbers released on May 9. This follows large gains at the start of the year.The unemployment rate nudged up to 6.1 per cent in April as more people entered the labour force. Self-employment and full-time work accounted for all of the gains in April. Over the past 12 months, employment increased by an estimated 348,000, up 2.1 per cent, with full time growing twice as fast as part time. ...more

APRIL BOOSTS RESIDENTIAL CONSTRUCTION IN HALIFAX

9 May 2008

The Spring construction season started strong in Nova Scotia as residential construction activity in April picked up with singles and multiples posting solid gains compared to last year.

Both single and multiple starts were up sharply compared to April 2007 and on a year-to-date basis, total starts are now 25 per cent higher than 2007 levels. According to Canada Mortgage and Housing Corporation (CMHC), preliminary data released on May 8 for Nova Scotia's urban areas with a population over 10,000, there were 222 total housing starts last month compared with 139 ...more

Canada gains an unexpected 35,900 jobs in April FINANCIAL POST, 8 MAY, 2009 8:01 AM

OTTAWA -_The Canadian economy saw an unexpected increase in jobs during April, despite a deepening economic recession, leaving the unemployment rate at eight per cent.

Statistics Canada said 35,900 positions were added during the month, driven by an increase in self-employment.

"Despite this increase, overall employment has fallen by 321,000 since the peak in October 2008," the federal agency said.

"The unemployment rate was unchanged at eight per cent in April, remaining at its highest level in seven years, with the growth in employment coinciding ...more

Nova Scotia's Unique Solutions Poised to Become Largest of its Kind

May 4, 2009

Nova Scotia's Unique Solutions Design Ltd. is set to expand its Dartmouth headquarters. The international company is also attracting significant new private-sector investment thanks to support from the province, through Nova Scotia Business Inc. (NSBI).Unique Solutions is a leader in the fashion and apparel world for its three-dimensional body scanners, custom fit, body measurements and data. Unique's scanners can be found in Mexico, Tunisia and Korea, as well as Canada and the United States. Nova Scotia Business Inc.'s equity arm, NSBI Venture Capital, is investing $2 ...more

NS: MP announces South Shore harbour investments

By Staff, Transcontinental Media Source: The Advance

[LIVERPOOL, NS] - Major new investments in small craft harbours will benefit local workers and businesses throughout Nova Scotia, Gerald Keddy, Member of Parliament for South Shore - St. Margaret's, said May 4. "The commercial fishery is vital to families and businesses throughout Nova Scotia," said Keddy. "By investing in small craft harbours our government is taking immediate action in job creation, and is ensuring that those who rely on the fishery can rely on an improved harbour for years to come."

The Small Craft Harbours ...more

Nova Scotia among provinces with GDP growth

Source; Thechronicleherald.ca, 28 April, 2009

OTTAWA - Only half of the provinces showed positive growth in real GDP last year, Statistics Canada reported on Monday.

Saskatchewan led the list, with growth of 4.4 per cent, while Nova Scotia, Prince Edward Island, Quebec, and Manitoba also showed positive numbers.

The GDP fell in Newfoundland and Labrador, Ontario, Alberta and British Columbia, while New Brunswick was unchanged.

Yukon and Nunavut both saw higher GDP, while the Northwest Territories shrank.

The agency said national economic growth was sluggish during the first half of last year, ...more

CANADA'S REAL ESTATE MARKETS COOLING

20 April 2008

Prices of resale homes edged up in Canada last month, but at a more moderate pace, signalling further cooling in the once red-hot sector, the Canadian Real Estate Association said this week.

The average price of a resale home in Canada's major markets was $329,383 in March (up from $327,477 in February and $325,183 in January). That leaves the average sale price up 4.0 per cent from March of last year.

For the first three months of the year, average prices realized through MLS sales were up 5.5 per cent from the ...more

THE FIRM FOUNDATION OF LOCAL HOUSING MARKET LETS IT WEATHER BOOM-BUST CYCLES

19 April 2008

The declaration this week by economist Douglas Porter of BMO Nesbitt Burns that Canada's six-year housing market boom is officially over may be a little premature. Is it really a bust when sales drop in the dead of winter while prices continue to rise?

Compare Canada's situation with the horror show south of the border and beyond. American homeowners from Blaine to Maine have witnessed the value of their property go down almost as quickly as it went up. The median price of a ...more

CANADIAN REAL ESTATE MARKET RELATIVELY RESILIENT DURING FIRST QUARTER

Only modest house price declines despite predictions of double digit depreciation

TORONTO, April 8, 2009

Consistent with current economic trends, Canadian residential real estate prices declined during the first quarter, according to a quarterly House Price Survey released today by Royal LePage Real Estate Services Ltd. As the market correction unfolds, year-over-year home prices were lower, as was expected. Increased buyer activity at the end of March suggests that spring will bring its typical increase in unit sales activity as buyers target summer moves.

Regional disparities in quarterly housing prices ...more

REAL ESTATE SALES IN FEBRUARY UP 18% FROM JANUARY 08

4 April 2008

The seasonally adjusted annual rate of housing starts was 256,900 units in February, up from 222,700 units in January, according to Canada Mortgage and Housing Corporation (CMHC)."New home construction in February was boosted by the significant rise in multiple-family starts," said Bob Dugan, Chief Economist at CMHC's Market Analysis Centre.

"The robust results achieved this month are mainly attributed to increased condominium starts, which reflect strong condominium sales over the past year or two. Despite this sizeable growth in February, we continue to expect that the trend ...more

CANADA'S HOUSING MARKET REMAINS STABLE; MODERATE PRICE INCREASES IN FIRST QUARTER

- Strong local economies and population growth support buyer demand -

3 April 2008

Canada's real estate market stands on stable footing. On average, healthy year-over-year house price gains were recorded during the first three months of 2008.

While more modest price increases were observed when compared to previous quarters, the solid appreciations noted inthe first quarter are largely due to the shared effects of resilient local economies, high immigration levels, and relatively low interest rates - all leading to enduring buyer demand, according to a House Price ...more

SIPPS RESEARCH: TIME FOR A CALM ASSESSMENT OF A ROARING SUCCESS

 7 April 2008

The popularity of Sipps over the years and since A-Day represents the success of this highly flexible vehicle for retirement.

Thousands of assets are being transferred into Sipps to consolidate pensions into a simpler, more flexible arrangement.A spotlight on figures from the Association of British Insurers shows that in the year between April 2005 and April 2006 assets held in Sipps shot up 178% from £42 million to £117 million. In the same period assets held in personal pensions grew by 74% from £57 million to ...more

Recovery will look like a hockey stick

By DAVID CRANE Economics Tue. Apr 28 - 6:26 AM

The latest monetary report from the Bank of Canada contends that over the next 30 months at least, the economy will stop shrinking but it won't grow much and unemployment could continue to rise. Instead of a recession recovery shaped like a V, with a sharp bounce back, think of a recession recovery more like a hockey stick.

What has happened is that the Bank of Canada has significantly reduced its estimate of the potential output of the economy, which it defines ...more

Canada's largest buying group for independent foodservice operators is coming to Atlantic Canada

20 April 2009

By the end of 2009, Groupex will deliver everything from soft drinks to financial services at huge savings for independent restaurateurs in Nova Scotia, New Brunswick, Prince Edward Island and Newfoundland. Groupex's services were launched in Nova Scotia in February, with plans to expand to all Atlantic provinces this year.

"Groupex helps independent operators remain competitive by giving them the buying power of chains," says Groupex President Carmine Aquino. "We've taken a long, hard look at the needs of local operators, have ...more

Lockheed Martin Grows in Nova Scotia

April 1, 2009

One of the world's largest defence companies is expanding in Nova Scotia.

Lockheed Martin Canada plans to create up to 100 new jobs within the next five years. The province, through Nova Scotia Business Inc., is supporting the company's growth with a payroll rebate to a maximum of $1,829,420.

Premier Rodney MacDonald made the announcement today, April 1, with Murray Scott, Minister of Economic and Rural Development; Tom Digan, president and general manager of Lockheed Martin Canada; and Stephen Lund, president and CEO of Nova Scotia Business Inc.

"The defence and ...more

First-time buyers driving force in Canada's residential real estate markets, says RE/MAX

March 11, 2009

KELOWNA, BC - A report released today by RE/MAX confirms that entry-level purchasers are now the engine driving home-buying activity in almost every major centre in Canada.

The 2009 RE/MAX First-Time Buyers Report, highlighting first-time buying activity in 32 residential housing markets across Canada, found that improved affordability is prompting many first-time buyers to get off the fence, out of the rental, and into the market. While a sense of caution still prevails, more and more first-timers are finding it hard to pass ...more

Flagstone Renews Commitment to Nova Scotia

March 11, 2009

Nova Scotia's first international financial services company has renewed its commitment to the province.

Flagstone has been growing in Halifax since the company established its Nova Scotia operation in 2005. Nova Scotia Business Inc. has worked closely with the company, supporting its success.

The province, through NSBI, will support Flagstone's growth with a new three-year payroll rebate to a maximum of $1,310,400. The rebate is an earned incentive and will be applied to as many as 80 new positions over the term of the agreement.

Premier Rodney MacDonald made the announcement ...more

Enviable position for Canada

Posted By Kyle Rea, TIMES-JOURNAL STAFF

Tough economic times are still to come for Canadians, but a high-profile economist predicts a rebound, albeit a moderate one, should come by the end of the year.

That's according to Sherry Cooper, chief economist for BMO, and guest speaker at the St. Thomas and District Chamber of Commerce Outlook 2009 held Wednesday at St. Anne's Centre.

While no analyst knows for sure what will happen -- since no one has encountered this sort of crisis before -- Cooper predicted it will take more than three years ...more

Canada rated world's soundest bank system: survey

CANBERRA (Reuters) - Canada has the world's soundest banking system, closely followed by Sweden, Luxembourg and Australia, a survey by the World Economic Forum has found as financial crisis and bank failures shake world markets.

But Britain, which once ranked in the top five, has slipped to 44th place behind El Salvador and Peru, after a 50 billion pound ($86.5 billion) pledge this week by the government to bolster bank balance sheets.

The United States, where some of Wall Street's biggest financial names have ...more

EDITED BY STAFF, TRANSCONTINENTAL MEDIA The Nova Scotia Business Journal

HALIFAX - Homebuying intentions in Atlantic Canada have increased over last year surpassing 2007 levels, according to the 16th Annual RBC Homeownership Survey. The poll found that 25 per cent of Atlantic Canadians were likely to purchase a home within the next two years, up from 20 per cent in 2008 and 24 per cent in 2007."We're likely to see increased home buying activity in Atlantic Canada over the next two years, with purchase intentions springing back from last year," said Craig Bannon, regional manager, Mortgage Development RBC. "The change ...more

Worthwhile Canadian Initiative

Canadian banks are typically leveraged at 18 to 1--compared with U.S. banks at 26 to 1.

Source; Newsweek, Feb 2009

Guess which country, alone in the industrialized world, has not faced a single bank failure, calls for bailouts or government intervention in the financial or mortgage sectors. Yup, it's Canada. In 2008, the World Economic Forum ranked Canada's banking system the healthiest in the world. America's ranked 40th, Britain's 44th.

Canada has done more than survive this financial crisis. The country is positively thriving in it. Canadian banks are well capitalized and poised to take advantage ...more

Nova Scotia Sports facilities cash in on Canada GamesBY PAUL MCLEOD, METRO HALIFAX

The Nova Scotia Business Journal

HALIFAX - Sports facilities were skiing, skating and swimming all the way to the bank Monday. The 2011 Canada Winter Games committee announced where it would be doling out $15 million of capital funding for the Halifax games.

Ski hills were the biggest winners. Ski Martock and Ski Wentworth got $4.2 million and $3.2 million, respectively. That'll go towards new snow-making equipment, improved trails, moguls and a super half-pipe. Hills will be able to make snow about twice ...more

NEW FLIGHT CONNECTS HALIFAX TO PARIS

Halifax now has a direct flight link to Paris. Corsairfly's first direct flight took off from Halfiax Stanfield International Airport at 7:20 pm yesterday, bound for Paris-Orly airport. The flight is a continuation of an Airbus 330 route from Quebec City. The service will continue every Wednesday until August 27. Corsairfly said in a release that it was confident that leisure and business traffic between Halifax and Paris would make the route a success.

Source: www.novascotiabusinessjournal.com ...more

A HOUSE BY THE OCEAN WITH 2 ACRES FOR £135,200

Canada is beautiful, accessible and awash with cheap property in prime locations, says Emma Thelwell - perfect if you're looking for a holiday home abroad.

Canada is a prosperous country with vast open skies and spaces, natural beauty, impressive mountain ranges and charming yet cosmopolitan cities, and it is also an ideal hunting ground for those seeking a holiday home, particularly given how cheap it looks to English eyes. The average house price in Canada is a mere £112,000. But that price is pretty meaningless. Canada is so huge and ...more

ECL ANNOUNCES MAJOR DEVELOPMENT FOR DOWNTOWN HALIFAX

EDITED BY STAFF, TRANSCONTINENTAL MEDIAThe Nova Scotia Business Journal

HALIFAX - ECL Developments Limited, a wholly owned subsidiary of Empire Company Limited, today announced its plans for a state-of-the-art office development in Halifax's downtown core.

The proposed 22-storey development, to be named International Place, will be built with a focus on environmentally sustainable technologies, with a goal of attaining a Leadership in Energy and Environmental Design (LEED) Gold standard.

With approximately 450,000 total square feet of hotel, retail and office capacity, International Place is expected to help satisfy current and projected demand for ...more

NOVA SCOTIA OUTPERFORMS NATIONAL REAL ESTATE MARKET

HALIFAX - While it's not a competition, Nova Scotia outperformed the national real estate market this May.

According to the Nova Scotia Association of Realtors (NSAR), the average price of a residential property in this province is at $202,569, up eight per cent compared to May 2007. Nationally, the average residential price increase was just over one per cent. The report also shows that the total value of those residential MLS sales in May, which was $264.9 million, was virtually unchanged from a year ago. The number of active listings at the end ...more

HALIFAX OFFICE MARKET PREPARES FOR A BUSY SECOND HALF

The Nova Scotia Business Journal

HALIFAX - Activity was robust during second quarter; however, significant results will not be seen until the last half of the year, states Colliers International (Atlantic) Inc.

"Class B buildings have been leasing steadily over the past 18 months, to the point that the vacancy rate is the lowest it has been in over two decades", states Pam MacFarlane,research director for Colliers International. "Class B buildings make up 54% of the downtown office market and the ‘B' vacancy rate is 2.9%." ...more

BRUTAL SUMMER HEAT KEEPING YOU OFF THE GOLF COURSE? CONSIDER NOVA SCOTIA

It's hot, isn't it? Yes it is, brother. The heat here on Florida golf courses these days could melt a monkey.People all over the world wait for summer so they can play golf. Others, like us in the southern climates, yearn for the spring and fall and even the winter. We dread the summer. The heat makes you mean. It makes you irritable. Did you know the murder rate in the summer soars with the temperature?

I have one word for you. One cool word, dripping with temperatures ...more

STRONG BUYING ACTIVITY EXPECTED TO DRIVE UP HOUSE PRICES IN HALIFAX

By Our Staff

The average price in Halifax is forecast to increase by 4.5 per cent to $226,000 by the end of 2008, according to a market survey released Thursday.

"Buyer activity in Halifax was strong during the second quarter," said Valerie Folk, area manager with Royal LePage Atlantic Canada, Halifax, who noted a trend in people returning home from Western Canada.

"The return of skilled workers will help drive much-needed new developments and better position the housing market for the rest of the year. Halifax has enjoyed strong ...more

IS YOUR PENSION FUND A POOR PERFORMER?

The performance of your pension fund is crucial to realising your retirement dreams, but some pension funds are not living up to their side of the bargain.New research from Hargreaves Lansdown says that £55 billion of pension funds have not delivered the investment returns they should. These ‘Old Bangers' have guzzled huge sums in pension contributions without giving much mileage in return.

Keep an eye on your pension

The effects of pension underperformance are simple - investors have to invest more money, retire later or, most likely, retire with a smaller income. This ...more

CANADA WILL SKIRT RECESSION, ECONOMIC FORECASTS PREDICT

Close, but no recession, at least in Canada.

That was the good news amid all the bad in economic forecasts Wednesday, including declarations by several that the U.S. economy is already in recession and one that without further action by authorities the U.S. faces a 1930s style depression.

The forecasts - by a bank and a think-tank in Canada, and the International Monetary Fund in Washington and think tanks in New York - were released as North American markets were gyrating between triple-digit losses and gains in volatile trading in the wake of ...more

ATLANTIC MARKET CANADA'S NEWEST HOUSING HOTSPOT: RBC

EDITED BY STAFF, TRANSCONTINENTAL MEDIAThe Nova Scotia Business Journal

TORONTO - According to the latest housing report by RBC Economics, rapid price increases in the past two years have eroded Atlantic Canada's affordability conditions, although some improvement is on the way in 2009.

"Forget the West. The new housing hotspots are in Atlantic Canada," said Robert Hogue, senior economist at RBC. "St. John's housing market is firing on all cylinders, trailing only Regina in terms of year-over-year price increases. Saint John and Halifax are also showing solid price momentum, creating favourable conditions for ...more

HANTS RDA LOOKS FOR GROWTH OPPORTUNITIES IN 2009

BY NADINE ARMSTRONG, TRANSCONTINENTAL MEDIAThe Nova Scotia Business Journal

WINDSOR - Despite the current hype about a global economic meltdown, some say the best time to invest in the future is now. The Hants Regional Development Authority (RDA) has advised that the current slowdown presents an opportunity for communities, businesses and individuals to take a step back, take stock and lay the groundwork for growth.

"It's a great time to plan for future prosperity," said RDA director Ryan MacNeil. "We need to think about what the next growth spurt is going to ...more

CANADA 'WON'T SUFFER US MELTDOWN' 

 Friday, January 02, 2009

Catherine Deshayes

The residential property market in Canada is not at risk of a US style meltdown even if the country slips into recession, it is claimed.

Property prices are falling but this is merely part of a cyclical downturn and the market is expected to hold up even if a sluggish economy threatens income growth and erodes consumer confidence, according to Robert Hogue, Senior Economist at Royal Bank of Canada.

He and his colleagues are confident that many factors that triggered the US housing collapse are either absent or of ...more

PROTECTING CANADA'S FUTURE: GOVERNMENT FISCAL AND ECONOMIC STATEMENT

November 27, 2008

Maintaining Strong and Responsible Economic Leadership 

Growing evidence suggests that the U.S. and several other major economies are now in recession. Canada has weathered this downturn better than virtually any other industrialized country. Domestic demand in Canada has continued to grow at a reduced but solid pace and employment has continued to expand. However, Canada is not isolated from global developments, and the consensus among private sector economists is that Canada will experience a technical recession in the coming months

Moreover, the uncertainty and risks surrounding the ...more

NOVA SCOTIA REAL ESTATE CONTINUES TO DEFY NATIONAL TRENDS

November 24, 2008 - Nova Scotia:

The Nova Scotia residential MLS® re-sale housing market defied national trends in October, posting a slight increase in the average MLS® residential price while the national average dropped 9.9 per cent. The Nova Scotia Association of REALTORS® (NSAR) reports that the average price in the province in October was $175,490, up 1.1 per cent compared to October of last year.

"As sales activity continues to slow from its breakneck pace in 2007, new listings are staying on the market longer, and because people aren't ...more

£100BN OF PENSION FUNDS NOW ELIGIBLE FOR PROPERTY INVESTMENT

A growing number of property professionals are looking at selling or building Self Invested Personal Pensions (SIPPs) compliant property after government changes mean that some six million people with an estimated £100bn could invest their underperforming personal pension into this savings type.

"These changes will give more flexibility and investment choice to people taking an active interest in the management of their pension fund," said UK Minister for Pensions Reform Mike O'Brien. "It will also be easier for individuals to transfer funds between different types of pension schemes, and to ...more

ATLANTIC CANADIAN CONSUMERS MOST CONFIDENT

BY JENNIFER TAPLIN, METRO HALIFAXThe Nova Scotia Business Journal

HALIFAX - Atlantic Canadians are still willing to make big purchases even in uncertain economic times. A consumer confidence survey shows Atlantic Canadians are more optimistic than the rest of the country. Consumer confidence levels in the country are at a decade low.

These kinds of numbers haven't been seen since the recession in the early 1990s.

"Right now we're at a level that's quite similar to the one we saw in the early '90s, in fact we're within a per cent or two either way," ...more

HEADING INTO 2009, CANADA'S ECONOMY WILL FARE BETTER THAN MOST

By John Clinkard, Consulting Economist, CanaData

Entering the final quarter of 2008 and looking ahead to 2009, if there is one thing the world has no shortage of, it is "doom and gloom."Indeed, based on several of the key indicators of future economic health, the global economic climate has seldom appeared so threatening.

For example, in the United States, the September Manufacturing ISM Report on the Business Purchasing Managers Index (PMI) dropped to 43.5 from 49.9 in August 2008. According to the Institute of Supply Management, "the PMI indicates ...more

DON'T LAY GLOBAL HOUSING BUBBLE ON U.S. DOORSTEP

October 24, 2008

Everyone appears to think that the credit crises that engulf the world trace back to American greed. In this case, though, everyone appears to be wrong.

Did the U.S. compel Iceland's three bankrupt banks (which didn't hold a single subprime mortgage) to guarantee 5.4 per cent on foreigners' deposits? Do we make the U.S. responsible for Europe's absurdly inflated housing prices? Aren't smart, affluent Europeans as responsible for Europe's housing crash as hapless, poor Americans? In 2006, after all, one-bedroom apartments in Dublin sold for $600,000 - ...more

Canadian Press: Published Wednesday October 8

HALIFAX - The Nova Scotia government will spend up to $19 million to support geological work to provide information on oil and natural gas reserves.

Premier Rodney MacDonald says the province's resource potential, both onshore and offshore, is greatly unexplored and underdeveloped. MacDonald says the geoscience information should encourage oil and gas companies to make further investments.

The premier also wants to see more work in Nova Scotia for local firms that service and supply the resource companies.

MacDonald, along with Energy ...more

CANADIAN AVERAGE HOUSE PRICES INCH UP IN Q3; REGIONAL VARIANCES MORE PRONOUNCED THAN EVER

House prices continue to rise in most regions, but rate of appreciation dropping

TORONTO, October 6, 2008

Home prices in Canada's resale real estate market continued to grow modestly through the third quarter in most major cities, according to a House Price Survey report released today by Royal LePage Real Estate Services. This dissimilar Canadian trend is in stark contrast to the housing market woes that continue to plague the U.S. Boasting still-affordable homes, resource-rich Regina and St. John's posted significant double-digit gains, while home prices ...more

SIPPS: FREEDOM FOR OLD PENSIONS

Investors Chronicle, 1 October 2008

Do you have any old pension pots lying around that haven't seen much attention of late? Then some new legislation could help you breathe new life into them.

Pension investment possibilities are about to get a lot more interesting with the announcement that from 1 October 6m people with protected pension rights pension funds averaging £16,500 can at last move the money into a self-invested personal pension.

This is very exciting news for the Sipp providers, who are salivating at the prospect of receiving massive inflows - the total ...more

N.S. REAL ESTATE MARKET STILL STRONG

Oct 4 2008, Nova Scotia, Canada

THE DECLINE in the stock market and the threat of a U.S-based recession migrating across the border into Canada has a lot of Nova Scotians worried about their financial nest eggs.

And when your financial reserve is basically locked up in the value of your home, the concern naturally turns to wondering about the prospects for the local real estate market.

In private conversations with several real estate agents in Halifax, it has been suggested that the local market has quieted down a little bit in the ...more