Downturn in Canada's Economy Predicted

In a speech to the Ontario Economic Leadership Summit in Niagara-on-the-Lake, Bank of Canada Governor Dodge reviewed the Bank's projections contained in the Monetary Policy Report, published last week. Global economic growth is expected to be a little higher than previously anticipated, but a weaker near-term outlook for the U.S. economy has curbed the near-term prospects for Canadian exports and growth, the Governor said. The Bank's base-case projection now calls for average annual GDP growth of 2.8 per cent in 2006, 2.5 per cent in 2007, and a return to 2.8 per cent in 2008.

Governor Dodge pointed out that Ontario's economy will be affected more than the national average because of the close ties between the province's industrial base and the two sectors of the U.S. economy that are slowing the most: automobiles and housing. "Nevertheless, modest growth in Ontario's economy should persist," Governor Dodge said. "Seventy per cent of Ontario's economic activity comes from the service sector, and that sector remains in good shape."

He goes on to say “… the cyclical pullback in the U.S. housing and auto sectors is causing particular difficulties for Ontario. Given the degree of integration of the Ontario and U.S. economies, this province will feel a significant impact from the U.S. downturn throughout the second half of this year and the first half of 2007. When you consider that automotive products made up 44 per cent of Ontario's merchandise exports last year, it is clear that the U.S. downturn will likely affect Ontario more severely than other provinces.”
Read full text at:
http://www.bankofcanada.ca/en/speeches/2006/sp06-16.html

Capitalizing on Canada's diversity is key to nation's future prosperity
RBC report says $174 billion in higher personal incomes at stake

http://www.rbc.com/newsroom/20051020diversity.html

Excerpts….

TORONTO, October 20, 2005 — Eliminating age, gender and cultural barriers could add 1.6 million Canadians to the work force and increase personal incomes by $174 billion according to a new report from RBC Economics, entitled "The Diversity Advantage: A Case for Canada's 21st Century Economy."

The report outlines a hard-hitting case for a national productivity agenda, containing 22 recommendations ranging from tax and policy reform, greater infrastructure funding, sweeping reforms applied to municipal finances, increased levels of immigration and ways the country should capitalize on cultural, gender and age diversity.

"With an aging population, fertility rates well below the 2.1 rate that is necessary to sustain population levels, and one in five manufacturers unable to find skilled labour, Canada needs to have an effective long-range economic strategy to ensure a successful 21st century economy and society," said Derek Holt, assistant chief economist, RBC.

Without a talented workforce, Canadian businesses will be unable to achieve corporate strategies for innovation and growth. The report suggests that immigrants, women and baby boomers approaching retirement will need to play more significant roles in the country's workforce, as Canada needs to capitalize on the broader economic benefits that a more diverse population has to offer.

"To replace retiring baby boomers and maintain our current economic performance, Canada will need an additional 2.75 million workers over the next 20 years. This is over and above future projected workforce growth derived from current immigration practices and from mapping today's employment rates for women and immigrants onto Statistics Canada's population projections," said Holt. "If immigrants and women were employed at their level of education and skills training, earning equal pay to men born in Canada, personal incomes in Canada would increase by 21 per cent or $174 billion, and 1.6 million more working-age Canadians would be employed."

A key issue in the report is immigration. Canada has been successful integrating immigrants into mainstream society; however, it has not truly capitalized upon the talents that immigrants bring with them. Many struggle when entering the workforce with their lack of employment experience in Canada, difficulties in transferring foreign qualifications and language issues, with only 40 per cent finding employment that matches their skill set. By addressing and providing solutions to each of these challenges, immigrants can be successful and productive in the Canadian workforce.

"The government needs to consider increasing the number of immigrants from current levels of 220,000-245,000 to between 300,000 to 400,000 per year, if Canada is to continue to prosper and meet future labour requirements," said Holt. "Current immigration policy will not address future workforce requirements as the boomers retire and demand for labour grows in a growing economy."

The report also highlights the need for better coordination and integration of immigration policies across municipal, provincial and federal levels of government. The current compartmentalized system is unworkable, with the federal level of government controlling immigration policies, provinces overseeing professional certifications and labour movements, and municipalities providing integration and placement of workers as well as the infrastructure needed to support immigrants.

G.O.A. Property at Kirby Road – End of the Saga ?
Edited Excerpts from PULSE –Oct 2006

At the GOA Building Special General Body Meeting held on April 30, 2006, the following motions were approved:

“That the G.O.A. executives be given approval with selling of the property and that the general body will accept a minimum offer of $1.4 million”

“That the Building Sub-Committee continue the actions of doing whatever is necessary to enhance the value of the land……..”

           Click to enlarge

Based on the above the Sub-Committee conducted an Environmental assessment and determined that 2 acres (of the 10 acres) could be potentially developed for a Community Centre or put to similar use, subject to re-zoning.

In June of 2006 an unsolicited offer was received which was not acceptable to the Sub-Committee, who in turn proposed a counter offer of $1.5 million with no take-back mortgage. If accepted the Completion date for the sale is December, 15, 2006.

"The Story of Jesus in Asia: A Celebration of Faith and Life."
Contemporary Asian Cultures Highlight Jesus At Asian Mission Congress

http://www.theindiancatholic.com/newsread.asp?nid=4091

October 24,2006

CHIANG MAI, Thailand (UCAN) -- The last full day of the Asian Mission Congress (AMC) focused on placing the story of Jesus within Asia's richly varied cultures.

The participants spent Oct. 21 focused on "The Story of Jesus in the Cultures of Asia," a specific dimension of the overall AMC theme, "The Story of Jesus in Asia: A Celebration of Faith and Life."

All but about 50 of the 1,000 or so people who attended the Oct. 18-22 congress in Chiang Mai, about 700 kilometers north of Bangkok, were from Asia.

Earlier plenary sessions discussed Jesus' story and its place within Asia's many religions, and the third full day's discussions again included interfaith concerns. However, the featured presentations that day centered on contemporary culture, and dealt particularly with youth and media, migration and consumerism.

By that day, the participants not only tackled the final workshop-and-feedback sessions like veterans, but had become much more comfortable with each other. One could sense their air of familiarity, and abundant fellowship.

As the AMC drew to a close, the attendees took more photos, and exchanged e-mail addresses, phone numbers and addresses. Plenty of gifts were exchanged during and after the evening's final event, the "grand socialization."

The day opened with a Mass presided by Cardinal Ricardo Vidal of Cebu, Philippines, followed by presentations on the cultures of Asia -- factual, concrete productions that provided an overview of the continent's many nations.

The five speakers who shared stories of faith in the early afternoon did not say much about traditional religions such as Buddhism and Hinduism, but offered personal stories of Jesus in their respective experiences of modern-day society.

World Goa Day Celebrated in Karachi

Deborah Santamaria has uploaded photographs of the World Goa Day 2006 Celebrations in KARACHI , Pakistan.You can view them at :
http://community.webshots.com/user/DebbieSantamaria

Message from Rene Barreto.



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