Canadian Economy Remains a Model of Stable Growth
http://www.conferenceboard.ca/press/2008/canadian-winter08.asp 

Ottawa, January 14, 2007 – The Canadian economy will weather the storm of uncertainty in the United States, as the Conference Board’s Canadian Outlook – Winter 2008 projects growth in real gross domestic product (GDP) to accelerate slightly to 2.8 per cent this year.

“As long as the United States averts a recession, Canada’s domestic economy will remain largely impervious to woes afflicting our largest trading partner,” said Pedro Antunes, Director, National and Provincial Forecast.

Canadian domestic demand, which averaged 4.3 per cent growth annually for four years, is still forecast to expand by more than three per cent in each of the next two years. Many of the positive conditions that have stimulated Canada’s domestic economy remain in place, such as strong job growth and wage gains. Furthermore, recent changes, such as tax reductions announced by the federal government in October 2007, will maintain the momentum.

The outlook for overall corporate profits is bullish for 2008, thanks largely to high resource prices. Strong profitability, combined with announced reductions in corporate taxes, appears to have reignited private investment by firms.

The possibility of a U.S. recession poses the greatest downside risk to the Canadian forecast. Nonetheless, the Conference Board expects the U.S. to skirt a recession, thanks mostly to continued growth in consumer spending, and investment spending that has held up well in spite of the turmoil in American housing and financial markets.

Canada Missing Out On Opportunities To Build Relationships With BRIC Countries

Ottawa, January 11, 2008 – Canada is missing out on the enormous opportunities offered by the BRIC countries—Brazil, Russia, India and China—the Conference Board argues in a new report released today. Canada’s share of trade and investment with the BRICs is small and linkages with these countries—especially China and India, or “Chindia”— need to be deepened.

“Canadian businesses must take advantage of the low-cost manufacturing and services available in the BRIC countries, particularly China and India. This would then allow us to concentrate on moving up the value chain by becoming specialized in knowledge-intensive, high-value-added goods and services,” said Sheila Rao, Senior Research Associate. “There are also huge export and investment opportunities for Canada in these countries. China and India are resource hungry, have massive infrastructure needs, and their enormous and growing middle-class population is boosting demand for products worldwide.”

Less than two per cent of Canada’s merchandise exports go to China, which is the largest of the BRIC export destinations. Canadian investment in China represents less than 1 per cent of Canada’s total outward foreign direct investment. Canadian outward foreign direct investment in India, meanwhile, is all but invisible.

What about the risk of lost jobs and diminishing market share that the BRICs represent for Canada?

BRIC exports, particularly those from China and India, do represent potential job losses in developed economies such as Canada and the United States. This threat is most immediate for industries dependent on low-skilled labour, reinforcing the importance for Canada to move to higher-value added goods and services. Over the past decade Canada’s share of U.S. merchandise imports has dropped while that of China has increased. China is now the second largest exporter to the U.S., after Canada; in 1997 it was in fourth place. The share of U.S. imports from India, Brazil and Russia also increased, but to a much smaller extent. Like Canada, the U.S. is importing low-cost manufactured goods from China.

The publication, The Rise of the BRICs: What Does it Mean for Canada?, can be downloaded free of charge at www.e-library.ca .

Get Your GOA CARD

Message from NRI office Goa
Sent to info@villafatima.com

Sir,

I am pleased to inform you that it has been decided to issue “GOA CARD” to NRIs / OCI / PIO of Goan origin, to facilitate holders of such cards to have easy access to Government Departments / offices for redressal of issues concerning them. Besides the Goa Card holders would also be entitled to certain concessions from Government Corporations, Private Hotels, Hospitals etc.

The GOA CARD is proposed to be launched at the hands of Hon. Chief Minister of Goa on Friday 18th January 2008, time and venue for which will be communicated in due course.

Hence, you are kindly requested to submit the application along with 02 passport size coloured photographs and Rs.250/- as fees which can be paid either in cash or demand draft drawn in favour of “Overseas Employment Agency of Goa” payable at Panaji latest by 14th January 2008. The application form can be collected from this office or downloaded from our website www.globalgoans.org.in .

Thanking you,
Yours faithfully,
sd/-U.D. Kamat Director for NRI Affairs

(NRI – Non-Resident Indian OCI – Overseas Citizen of India PIO- Person of Indian Origin )

Management Accountants (CMA) Urges Government To Retain Foreign Students Trained In Canada To Boost Productivity, Competitiveness

http://www.newswire.ca/en/releases/archive/January2008/15/c9082.html

TORONTO, Jan. 15 /CNW/ - Extending work permits for gifted foreign students trained in Canada is one of six recommendations by the Certified Management Accountants of Canada (CMA Canada) to Canada's new Competition Policy Review Panel aimed at putting the country's productivity back on track and making us more globally competitive.

"CMA Canada has long advocated public policy measures aimed at enhancing Canada's productivity record," said CMA Canada President and CEO Steve Vieweg, CMA, FCMA. "Putting Canada's productivity growth back on track is the key to enabling Canadian businesses to prosper in a highly competitive global economy, and to improving the standard of living enjoyed by all Canadians." CMA Canada submitted its recommendations to the panel struck in June 2007 by the Ministers of Industry and Finance with a "fundamental task" of identifying the path to enhancing Canada's productivity and competitiveness.

The panel's report is to be completed by June 30, 2008. CMA Canada's recommendations focus on what the Organization for Economic Co-operation and Development (OECD) calls the "drivers of productivity growth" - human capital, physical capital and innovation.

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