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Anita Anand, Industry Minister; The Front Bench with: Christy Clark, Tony Clement & Nathan Cullen; Andrew Furey, Newfoundland & Labrador Premier.
François-Philippe Champagne, Industry Minister; Frances Donald, RBC ; The Front Bench with : Sharan Kaur, Jamie Ellerton, Karl Bélanger & Hannah Thibedeau.
Listen to Vassy's full conversation with Industry Minister Francois-Philippe Champagne as he speaks about the upcoming U.S. trade talks, Canada's counter-tariff money, and tariffs on Chinese EVs. On todays show: Catherine Cobden, President and CEO of Canadian Steel Producers Association, joins host Vassy Kapelos to discuss the impact that steel manufacturers in Canada are feeling with the tariffs now in place. CTV science and technology specialist Dan Riskin joins Vassy Kapelos for the weekly segment Talk Science to Me. Vassy Kapelos hosts ‘The Daily Debrief’ political panel discussion with Laura Stone, Queen’s Park reporter with The Globe and Mail, Robert Benzie, Queen’s Park Bureau Chief for the Toronto Star, and Mike Le Couteur, Senior Political Correspondent, CTV National News. Tim Tierney, Ottawa city councillor and Vice-President of the Federation of Canadian Municipalities, joins Vassy to discuss his trip to Washington where he engaged in talks about the impacts of tariffs on both sides of the border.
François-Philippe Champagne, Industry Minister; Danielle Smith, Alberta Premier; The Front Bench with : David Peterson, Gary Mar & Gary Doer.
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Plus: Christie's goes all in on AI art. We reach a (human) artist who's part of the first auction of its kind. Also: A town in northern England finds hundreds of Second World War bombs under a children's playground.
Andrew Furey, Newfoundland and Labrador Premier; François-Philippe Champagne, Industry Minister; The Front Bench with: Brian Gallant, Lisa Raitt and Tom Mulcair.
Plus: A Welsh art gallery doubles down on nudes after getting a warning about “pornography” on display. Also: Canada's Industry Minister François-Philippe Champagne; newly reelected Montana state legislator Zooey Zephyr and more
Rick Klein, ABC News Political Director; François-Philippe Champagne, Industry Minister ; Mike Le Couteur, CTV News & Rachel Aiello, CTV News ; The Front Bench with: Saeed Selvam, Jamie Ellerton, Karl Bélanger & Marieke Walsh.
The Oil Ministry received 10 out of 21 contracted liquified natural gas (LNG) shipments as of last week, a government official said. The official also told the news outlet that the Ministry is set to receive another 3-4 LNG shipments within the coming two weeks.Saudi Arabia Drilling & Exploration Company could soon ink an agreement with an undisclosed Egyptian private sector player holding two gold exploration concessions in the Eastern Desert.The New and Renewable Energy Authority (NREA) has allocated land plots spanning 31k km for investors looking to set up renewable energy projects. The Central Bank of Egypt (CBE) has instructed local banks to allow non-residing foreigners to open accounts.Turkey's Jade Textile has contracted an unnamed Gulf-based consultant to establish a solar power station for its factory in Tenth of Ramadan, with investments of around USD1.5 million.Giza Spinning & Weaving reportedly plans to list 25-40% of its shares on the EGX before the end of the year.President El Sisi issued a directive forbidding the closure of any industrial facility without the greenlight from Transport and Industry Minister.ORHD (FV: EGP26.26, OW)'s net profit in 2Q24 rose 217.8% y/y to EGP1.9 billion, compared to 1Q24 net loss of EGP1.2 billion that had been caused by an FX loss due to the EGP devaluation in March 2024. This brought 1H24 net profit to EGP667.9 million, down 23.5% y/y. We maintain our Overweight recommendation of ORHD based on our FV of EGP26.26/share in light of solid sales performance and sturdy recurring income generated by hotel and commercial operations.ADIB recorded an outstanding 2Q24 consolidated bottom line post minority of EGP2,458 million (+16% q/q, +112% y/y), bringing 1H24 bottom line post minority to EGP4,574 million (+111% y/y). The bank is currently trading at 1.1x P/B24 and 3.5x P/E24.Housing and Development Properties (HDP), the real estate development arm of HDBK, yesterday launched Club Hills Residence, a EGP10 billion residential development in Sixth of October City. JUFO (FV: EGP30.80, OW) released outstanding 2Q24 financial results.Net profit jumped 362% YoY and 109.4% QoQ to reach EGP1,002 million. This brings 1H24 bottom line to EGP1,480 million (+166% YoY). JUFO is currently trading at 2024f P/E of 10.5x and EV/EBITDA of 5.3x.EKHO targets investing USD67 million in its North Sinai concession to keep natural gas daily production rates at 55 million cubic feet until the end of 2026. SWDY (FV: EGP44.88, EW) denied, in a release sent to EGX, any plans to delist the company's shares.RACC reported 1H24 results. Net profit came in at EGP245 million (+199.9% YoY), driven by revenues growth and margin expansion.TALM intends to inaugurate next month Beni Suef University Hospital, with investments of EGP800 million. FRA granted Social Impact Capital (SIC) a 60-day extension on its mandatory tender offer (MTO) for up to 100% of CIRA.Weekly Commodities Update | | Last Price | WoW Change, % | Brent, USD/bbl | 79.7 | 3.70% | Diesel-HSFO Spread, USD/ton | 276 | -1.70% | Egypt Urea, USD/ton | 365 | 0.00% | Polyethylene, USD/ton | 1,050 | -0.90% | Polypropylene, USD/ton | 975 | -1.00% | Iron Ore 65%, USD/ton | 122 | -4.00% | Steel/Iron Ore Spreads, USD/ton | 389 | 0.00% | LME Copper Cash Price, USD/ton | 8,747 | -2.10% | LME Aluminum Cash Price, USD/ton | 2,250 | 2.20% | Egyptia Retail Cement, EGP/ton | 2,307 | 5.60% | Steam Coal FOB Newcastle Australia, USD/ton | 146 | 1.30% | SMP, USD/MT | 2,539 | -1.10% | Last price may vary week over week in some indices due to time difference
Andrew Johnson, CTV News; Rob Fraser, Mayor of the Northern Rockies Regional Municipality; François-Philippe Champagne, Industry Minister; The Front Bench with: Brian Gallant, Lisa Raitt, Tom Mulcair and Laura Stone.
François-Philippe Champagne, Industry Minister; Vic Fedeli, Ontario Economic Development Minister; Joy Malbon, CTV News; The Front Bench with: Christy Clark, John Tory and Tom Mulcair.
François-Philippe Champagne, Industry Minister; Bob Rae, Canadian Ambassador to the United Nations; The Front Bench with: Brian Gallant, Lisa Raitt, Tom Mulcair and Robert Benzie.
Is the Texas border about to escalate into a fiasco? What are some possible (nefarious) motives for bringing in National Guard units from all over? Why are military units allegedly being told to prepare for off-grid functionality by Feb. __? Why are "governmental entities" told to prepare for the "worst weather imaginable" by Feb. __? What is the alleged reason why Israel is denying all medical aid to Gaza/Lebanon? Why does Russia want Alaska back? Please join Steve and Bonnie as the world sits atop the steep slide into times such as never were - when "the LORD Almighty (will) muster an army for war." Isa. 13:4 "Here am I; send me." ~Isaiah (Some authors below do not distinguish between Brother Judah and the Matthew 23 leaders. Please disregard anything inflammatory or non-discerning.) Vaxx “Dirty blood syndrome” coined by embalmers, “coffee grounds” in blood: https://t.me/covidbc/16197 Embalmers find “strange blood clots” in vaxxed: https://childrenshealthdefense.org/defender/blood-clots-embalmers-report-mid-2021-covid-vaccines/ And it gets worse – FDA waives “informed consent”: https://allnewspipeline.com/FDA_Does_Away_With_Informed_Consent_Making_Us_All_Human_Guinea_Pigs.php Ukraine Did Ukraine just shoot down a transport jet carrying Ukrainian POW's destined for exchange? Russia urges UN investigation: https://www.reuters.com/world/europe/russian-il-76-military-transport-plane-crashes-near-ukrainian-border-russian-2024-01-24/ https://t.me/intelslava/54909 via Patriot Missiles?: https://t.me/intelslava/54908 Civil War TX/NM border crisis article from Oct '23: https://www.naturalnews.com/2023-10-18-texas-installs-razor-wire-new-mexico-border.html Border Patrol cut through razor wire, help illegals to enter: https://www.dailymail.co.uk/news/article-12573411/Shocking-moment-five-Border-Patrol-agents-CUT-razor-wire-Eagle-Pass-allow-migrants-enter-Texas-Governor-Abbott-installed-Rio-Grande.html Supreme Court allows Fed to cut wire: https://www.naturalnews.com/2024-01-24-supreme-court-authorizes-invasion-illegals-remove-wire.html Texas continues to bear the brunt of open borders, pledges to fight on: https://t.me/intelslava/54879 Texas reps to national Republican convention had pushed right to secede: https://www.thebulwark.com/texas-republicans-deadly-serious-toying-around-with-secession/ Texas sets up additional razor wire despite Supreme Court ruling: https://t.me/GeneralMCNews/7089 Uh-oh. Now TX Gov. Abbott says feds have “broken the compact with the states”: https://halturnerradioshow.com/index.php/en/news-page/world/texas-governor-declares-federal-government-has-broken-the-compact-with-the-states-invokes-invasion-clause-asserts-right-to-self-defense OK might send Natl Guard troops to aid TX: https://t.me/disclosetv/13146 Biden – I'll punish TX; Abbott – bring it on: https://t.me/VigilantFox/10649 Political divide between genders?: https://t.me/disclosetv/13143 Trucker envoy header to TX border: https://t.me/GeneralMCNews/7132 25-26 of states join TX: https://halturnerradioshow.com/index.php/en/news-page/world/now-25-out-of-50-states-standing-with-texas-against-federal-government-u-s-primed-for-actual-civil-war#!/ccomment-page=2 FL/OK to send Natl Guard troops to TX: https://youtu.be/cSe5sJ55um4?si=YWua32yf6pve4B53 WWIII UK warns citizenry of possible draft: https://www.thesun.co.uk/news/25467081/brits-conscription-army-chief-ww3-threat/ Israel's Econ. & Industry Minister, Nir Barkat, set sights on Iran: https://www.infowars.com/posts/wwiii-alert-senior-israeli-official-says-iran-legitimate-target-for-air-strikes/ Synagogue of Satan & Co. Mary/Miriam, mother of Yeshua, is called “prostitute who cheated”: https://halturnerradioshow.com/index.php/en/news-page/world/israeli-rabbi-in-synagogue-calls-blessed-mary-a-prostitute-who-cheated-on-her-husband US involved in attack on Gaza: https://www.winterwatch.
François-Philippe Champagne, Industry Minister; Kirsten Hillman, Canadian Ambassador to the U.S.; Joy Malbon, CTV News; The Front Bench with: Brian Gallant, Lisa Raitt, Tom Mulcair and Robert Benzie.
On Elias Mako's' first Big 5 of 2024, he is joined by Meeker Guerrier, Weekend News Anchor at Noovo and a commentator at RDS and Caroline Codsi, Founder & Chief Equity Officer, Women in Governance. Another Justin Trudeau vacation, another Justin Trudeau vacation scandal Canada's Industry Minister wants a foreign grocery giant to come to this country How much do you hold onto the name of venues?
Stuart Smyth, Associate Professor, Industry Funded Research Chair in Agri-Food Innovation, University of Saskatchewan with guest host Rob Breakenridge Learn more about your ad choices. Visit megaphone.fm/adchoices
Trade and Industry Minister Ebrahim Patel has been briefing the media on the preparedness of South Africa to host the African Growth and Opportunity Act (AGOA) Forum from the 2nd to the 4th of November 2023 in Johannesburg. Patel highlighted the importance for South Africa to host the forum as well as insights into the forthcoming program. AGOA was signed into law on 18 May 2000 to encourage African countries to open their economies and build free trade markets. Sakina Kamwendo dpoke to reporter, Naledi Ngcobo.
Recently revealed data shows Metro Vancouver's homeless count has risen by 32 per cent since 2020. David Wells joins us to analyze these numbers. Canada's Industry Minister says the country's top grocery chains have agreed to take concrete action to stabilize food prices, but when will that happen? The Province announces critical steps & new restrictions in place to crack down on public drug use.
François-Philippe Champagne, Industry Minister; Aled ab Iorwerth, Canada Mortgage and Housing Corporation; The Front Bench with: Christy Clark, John Tory and Judy Trinh.
Annie Bergeron-Oliver, CTV News; François-Philippe Champagne, Industry Minister; Souriya Otmani, Moroccan Ambassador to Canada ; The Front Bench with Dan Moulton, Shakir Chambers, Kathleen Monk and Laura Stone
Artificial intelligence is a challenging policy area that's moving towards the centre stage of public and government attention. Some experts emphasise the immense potential of AI, while others are deeply troubled about the ramifications the technology may have on humans. AI has the potential to open up employment opportunities, but also to replace many jobs. The Albanese government has recently begun consultations as it formulates a policy for seeking to ensure AI technology is both safe and responsible. In this podcast, Ed Husic, the minister for industry and science, who is overseeing the AI policy development process, joins us to talk about this new frontier.
President Abdel Fattah El Sisi received a phone call from IMF Managing Director yesterday, discussing the government's economic reform program. New rules making it easier for foreigners to get citizenship were signed into law by El Sisi, including the purchase of real estate units for a value of USD350k. TMGH is a key beneficiary. The cabinet approved a recent decision by the Interior Ministry to amend the Investment Act regulations to allow foreign investors to acquire year-long non-touristic residencies when proposing investment plans to GAFI. Finance Minister Mohamed Maait expressed optimism that the New Development Bank — the multilateral lender set up by the BRICS — will provide Egypt with concessional loans to fund infrastructure projects. Some prepaid cards can no longer be used to make international transactions, according to the CBE, cards that aren't linked to bank accounts, and issued by digital payments companies Klivvr, Nexta, and Telda. Importers can now pay just 1% of the tax and fees required to proceed with the customs clearance process before the arrival of imports, down from 30% previously, according to a Finance Ministry decision. The remaining 99% is to be paid upon the arrival of imports. The decision went into effect on 30 May. The developers of Cyprus' Aphrodite field plan to build a subsea pipeline linking the offshore gas reservoir to an Egyptian LNG processing facility. Trade and Industry Minister issued a decision allowing industrial investors to pay for licenses every three or five years, instead of annually. An energy firm will make its debut on the EGX within two months, according to EGX head Ramy El Dokany. The exchange is terminating its EGX50 index due to its limited usefulness and will launch a new Sharia-compliant index. Negative net foreign position fell in April for the first time since December, by USD 162.7 million, reaching USD 24.1 billion, compared to USD 24.3 billion during last March, supported by a decrease in the commercial banks negative NFA, while it widened at the CBE. SWDY (FV: EGP22.87, OW) achieved solid 1Q23 results recording a surge in net attributable income to EGP2.9 billion in 1Q23, almost 4-fold the earnings in 1Q22 and 25% higher than 4Q22. Bottom-line growth was accelerated by higher profitability across all business segments, coupled with higher FX gains that partially offset rising financing costs and SG&A expenses. SWDY is currently trading at FY23e P/E of 4.4x and EV/EBITDA of 4.7x. Please refer to our note published earlier today for further details. ORAS general assembly approved the purchase of 6,517,444 of its own shares (the “Shares”), representing 5.58% of the Company's total issued share capital at a price of USD3.00/share. Consumer Staples OLFI (FV: EGP14.11, OW) released 1Q23 financial results: Net profit for the quarter recorded EGP115.2 mn (+27.1% YoY, -15.2% QoQ) with a margin of 7.8% versus 9.8% in 1Q22 and 9.6% in 4Q22. The sequential pressure in net profitability came backed by FX losses. The rise in net interest expense took a toll on bottom-line as well due to the rise in the company's net debt. We raise our FV for OLFI to reach EGP14.11/share from a previous EGP11.60/share and uplifting our recommendation to Overweight. OLFI is currently trading at a FY23 P/E of 9.7x and and EV/EBITDA of 5.2x. POUL (FV: EGP5.90, EW) POUL achieved record breaking results for the quarter. Net profit recorded EGP556.1 mn compared to EGP52.5 mn in 1Q22 and EGP76.7 mn in 4Q22. The huge peak is backed by a sur
Elias Makos begins the week with Paul Gott, Lead singer and guitarist for Montreal Punk Rock band the Ripcordz and a journalism professor at Concordia, and Jimmy Zoubris, special advisor to the Mayor. Navdeep Bains has gone from federal Industry Minister to Chief Corporate Affairs Officer at Rogers. If there was a sniff test for this, what would you be smelling? After an access to information request by La Presse, there's direct evidence that the Pierre Elliott Trudeau Foundation was holding meetings around the corner from the Prime Minister's officedespite the PM's claim that there is no undue influence between him and the organization Eric Duhaime had a lot to say in an open letter to CAQ MNAs as he attempted to woo them after the third link betrayal
The digital news outlet Ground Up is reporting that the National Lotteries Commission (NLC) and trade and industry minister Ebrahim Patel, are concerned that no one involved in the fraud and corruption, has yet been formally charged and prosecuted. The trade and industry minister Ebrahim Patel, MPs and the National Lotteries Commission (NLC) chairperson Prof Barney Pityana have all expressed concern over a lack of prosecutions of lottery looters. The Special Investigating Unit (SIU) has so far uncovered about R1.4-billion in looting at the NLC. To discuss this matter further we're now joined on the line by the National Lotteries Commission board chairperson, Prof Barney Pityana and SIU spokesperson, Kaizer Kganyago
A scathing report on the Nova Scotia shootings concludes the RCMP failed the community; The Liberals face criticism, after Dominic Leblanc's sister-in-law is named interim Ethics Commissioner; We consider the lack of money in the budget for supporting Ukraine; Industry Minister expected to accept Rogers takeover of Shaw.
Industry Minister Francois-Philippe Champagne says Canada has a “winning strategy” in automotive and “all the ingredients” to offer “generational opportunities for workers.” He talks about new investment, the EV supply chain, and pitching Canada “as a solution provider.”
Guest: Phillip de Wet | Associate Editor at Business Insider Inc| See omnystudio.com/listener for privacy information.
Synopsis: The Straits Times analyses Singapore's latest news and announcements. Education Minister Chan Chun Sing, who was singled out by Prime Minister Lee Hsien Loong in his National Day Rally speech as being key to helping Singapore tide over supply-chain disruptions during the pandemic, said that Singapore has three strategies to deal with such crises. In a wide-ranging interview with The Straits Times' Hairianto Diman, the former Trade and Industry Minister noted that domestic politics in other countries could also deter them from selling to Singapore. This is an edited version of the full interview. Produced by: ST Video team Edited by: ST Video team and Penelope Lee Follow ST Podcasts channel: Channel: https://str.sg/wukV Apple Podcasts: https://str.sg/wukK Spotify: https://str.sg/wukH Google Podcasts: https://str.sg/wukr SPH Awedio app: https://www.awedio.sg/ Website: http://str.sg/stpodcasts Feedback to: podcast@sph.com.sg --- Discover ST's special edition podcasts: Singapore's War On Covid: https://str.sg/wuJa The Unsolved Mysteries of South-east Asia: https://str.sg/wuZ2 Stop Scams: https://str.sg/wuZB Invisible Asia: https://str.sg/wuZn --- Discover more ST podcast series: Asian Insider: https://str.sg/JWa7 Green Pulse: https://str.sg/JWaf Health Check: https://str.sg/JWaN In Your Opinion: https://str.sg/w7Qt Your Money & Career: https://str.sg/wB2m SG Extra: https://str.sg/wukR #PopVultures: https://str.sg/JWad ST Sports Talk: https://str.sg/JWRE Bookmark This!: https://str.sg/JWas Lunch With Sumiko: https://str.sg/J6hQ Discover BT Podcasts: https://bt.sg/pcPL Follow our shows then, if you like short, practical podcasts!See omnystudio.com/listener for privacy information.
Prime Minister has met with the central bank governor and Trade and Industry Minister to discuss allowing importers to purchase certain goods — including raw materials and manufacturing essentials — via documentary collection rather than L/Cs.The EGP continued to slide yesterday, hitting 19.26 against the USD.Finance Minister denied that there are any requirements by the IMF that affect social protection programs or lead to raising the prices of subsidized bread.The Ministry of Finance now expects the budget deficit to narrow to 5.6% this year (FY22/23) and 5.0% in FY23/24, down from 6.1% in FY21/22. The primary surplus will rise to 1.6% for FY22/23 from 1.3% in FY21/22.The debt-to-GDP ratio rose from a forecasted 85% to 85.3% during FY21/22.Egypt plans to issue Chinese Yuan-denominated bonds worth more than USD 500 million.The government is still hoping to offer shares in state companies on the EGX between September and December.The Madbouly government is in talks with unnamed Chinese investors to build and finance a USD 2.3 bn complex to make solar panel components.Cabinet has given its approval to pay a total EGP 10 bn out to exporters in export rebates, with payments to be made on 1 October and 1 December. ABUK decided in its BoD to establish a new company “North Abu Qir Company for Agricultural Nutrients,” which will produce ammonia with a production capacity of 1200 tons per day, with an authorized capital of EGP10 billion and issued capital of EGP1 billion. The shareholding structure will be: ABUK with 45% (EGP0.35/ABUK share), EGPC with 45%, and ECHEM with 10%. AMOC invites its BoD to convene on the 24th of September, 2022 to decide on the FY21/22 cash dividends. We expect the yield to be north of 12%.SWDY signed two new contracts: 1) to construct ElKhamael transformers station with a total value of EGP533.3 million; 2) to construct transformers station with a value amounting to EGP566.8 million. Beltone Financial shareholders will elect new board members and is planning to go ahead with a capital increase but only once it has formed a new board.Tawasol Holdings and LimeVest Partners sent a letter to FRA offering to purchase 74% of Alex Medical at EGP57.67 per share. Weekly Commodity UpdateBrent, USD/bbl 102.5 6.6%Diesel-HSFO Spread, USD/ton 714.1 15.2%Egypt Urea, USD/ton 785.0 2.6%Polyethylene, USD/ton 1,100.0 -3.5%Polypropylene, USD/ton 990.0 0.0%Steel/Iron Ore Spreads, USD/ton 433.8 -1.0%LME Aluminum Cash Price, USD/ton 2,502.8 4.0%Egyptian Retail Cement, EGP/ton 1,463.0 6.4%Steam Coal FOB Newcastle Australia, USD/ton 422.8 1.1%Crude Palm Oil, USD/MT 919.1 -0.9%SMP, USD/MT 3,524.0 0.0%
Member of Parliament for Yendi in the Northern region has called on the Trade and Industry Minister, Alan Kyeremanten to distance himself from a comment made by Hopeson Adorye in Kumasi.
Maxime Bernier is known as a dependable politician who speaks his mind. A man of ideas, his belief in personal responsibility and freedom is at the heart of his political vision. In his public statements, he expresses those values and his unwavering commitment to reducing the size of government. Maxime Bernier was born January 18, 1963, in St-Georges-de-Beauce. He is the father of two girls. Mr. Bernier is a dedicated and experienced runner and has participated in several marathons. A tough and determined competitor, he once ran 106 km across his constituency, completing the run in 13 hours and raising $165,000 for the Beauce food bank. In 1985, Mr. Bernier earned a Bachelor of Commerce degree from the Université du Québec à Montréal and entered Law at the University of Ottawa. He was called to the Quebec Bar in 1990. Mr. Bernier has a long-standing interest in business and during his career worked for several financial and banking institutions before becoming Executive Vice-President of the Montreal Economic Institute in 2005. Many people in the region encouraged him to enter politics. He took up the challenge and was elected Member of Parliament for Beauce on January 23, 2006, with the largest majority outside Alberta (he will remain MP of the constituency until 2019). He was appointed to Cabinet on February 6, 2006, as Minister of Industry. His success in deregulating major portions of the telecommunications sector prompted the chair of the Political Science department at McGill University, Professor Richard J. Schultz, to write, “In terms of what is perhaps the single most important component of his Industry portfolio, telecommunications, he was without challenge the best Industry Minister in thirty years.” Mr. Bernier also served as Minister of Foreign Affairs from August 14, 2007 to May 26, 2008. He was re-elected to represent Beauce on October 14, 2008, again receiving the largest majority of all MPs in Quebec. Re-elected on May 2, 2011, he was appointed Minister of State for Small Business and Tourism. Maxime Bernier was re-elected a fourth time in November, 2015, receiving more than 59% of the vote. On August 23, 2018, he left the Conservative Party of Canada to sit as an independent MP and announced the launch of a new party. Read his full statement here. *************************************************** Follow the Cross Border Interview Podcast: Instagram: https://www.instagram.com/crossborderpodcast/ Twitter: https://twitter.com/CrossBorderPod Facebook : https://www.facebook.com/CrossBorderInterviews Youtube: https://www.youtube.com/channel/UCI2i25ZVKTO84oUsLyO4jig Website: https://www.crossborderinterviews.ca/ Back the Show: https://www.patreon.com/CrossBoderInterviewPodcast The Cross Border Interview Podcast was Produced and Edited by Miranda, Brown & Associates Inc © 2022
Alan speaks with Alexandra Posadzki, Telecom reporter for the Globe and Mail.
David Heurtel joined Ken Connors to talk about Rogers' massive outage.
Ian King talks to: Erin Brookes from Alvarez and Marsal about the fall in retail sales as shoppers cut their spending on food; the Chief Executive of Rwanda Finance Limited about investing in the country; Tata Chemicals as it opens the country's biggest carbon capture plant; and Saudi Arabia's Industry Minister - as international relations with the country begin to thaw
Ward Elcock, Former CSIS director; Danielle Smith, former Wildrose Party leader; François-Philippe Champagne, Industry Minister; Ed Fast, Conservative MP; Siobhan Morris, CTV News; Joyce Napier, CTV News; Robert Benzie, the Toronto Star; Stephen Carter, Decide Campaigns; and Alykhan Velshi, Huawei.
APAC stocks were cautious following the uninspiring lead from Wall St and regional soft data releases; S&P 500 -1.5%.UK reportedly urged Ukraine not to back down and is concerned US, France and Germany will push Ukraine to make significant concessions to Russia.DXY is on a firmer footing on a 98 handle, JPY is the laggard in an otherwise contained G10 FX space.European equity futures are indicative of a flat open with the Euro Stoxx 50 future relatively unchanged after the cash market closed lower by 1.4% yesterday.Looking ahead, highlights include EZ, UK & US Final Manufacturing PMIs, US Labour Market Report, ISM Manufacturing PMI, China-EU Summit, Speech from Fed's Evans.US TRADEUS stocks traded negative with losses exacerbated into the close on a chunky sell-side imbalance into month- and quarter-end, with sentiment already hit throughout the day as Ukraine/Russia optimism waned further.S&P 500 -1.4% at 4,539, Nasdaq 100 -1.6% at 14,838, Dow Jones -1.6% at 34,678, Russell 2000 -1.0% at 2,067.GEOPOLITICSRUSSIA-UKRAINENEGOTIATIONS/TALKSUK reportedly urged Ukraine not to back down and is concerned US, France and Germany will push Ukraine to “settle” and make significant concessions to Russia, according to The Times citing a government sourceRussian Defence Ministry said it will open a humanitarian corridor from Mariupol to Zaporizhzhia on April 1st, following the request by German and French leaders to Russian President Putin, according to TASS.DEFENCE/MILITARYUkrainian President Zelensky said the situation in the south of Ukraine and the Donbas region remains extremely difficult, according to Reuters.Ukrainian General said Russian forces are preparing new groups to besiege the cities of Sloviansk and Kramatorsk which are both in the Donbas region, while Russian forces transferred additional missiles to Belarus to increase attacks on Ukrainian cities, according to Al Jazeera.Ukraine's envoy to Japan said the situation on the ground is turning better for Ukraine and they will soon be able to protect their skies with advanced military equipment set to be provided by the US and UK, according to Reuters.UK Ministry of Defence said Russia is redeploying forces from Georgia to reinforce its invasion of Ukraine.IAEA said it is in close consultations with Ukraine on sending its first assistance and support mission to Chernobyl in the next few days and is not able to confirm reports of Russian forces receiving high doses of radiation, according to Reuters.US senior defence official said there are currently no indications that Russia is preparing to use tactical nuclear weapons in Ukraine, according to Reuters.Governor of Belgorod in Russia near the border with Ukraine confirmed an oil depot fire was caused by a Ukrainian helicopter attack inside of Russia, according to ELINT News.ENERGY/ECONOMIC SANCTIONSWhite House said the Commerce Department will take further action against Russia in the coming days, according to Reuters.Russia's Foreign Ministry said Russia will not ask the EU to end sanctions and has a sufficient margin of safety, according to RIA.FUND/SOVEREIGN/OTHER NEWSRussian Finance Ministry said a buyback of its 2022 Eurobond was completed and it purchased it back for the nominal value of almost USD 1.45bln. Holders of the 2022 Eurobond have received payments in Roubles totalling the amount of RUB 124.4bln.Russia adopted a resolution whereby wheat, meslin, rye, barley, and corn are removed from the export ban to EAEU countries, according to a government statement cited by Interfax.US State Department called on any US citizens in Russia or Ukraine to leave immediately over concerns of being targeted specifically for arrest, according to Reuters.OTHERJapan froze the assets of 4 additional Russian organisations, 3 Russians and 6 North Koreans for involvement in North Korea's weapons projects, according to Reuters.APAC TRADEEQUITIESAPAC stocks were cautious following the uninspiring lead from Wall St, where the major indices closed off their worst quarterly performance in two years and as the region digested weak data releases.ASX 200 traded rangebound as pressure from losses in tech, industrials and financials was counterbalanced by resilience in the commodity-related sectors and upgrade to Australian PMI data.Nikkei 225 was subdued after mixed Tankan data in which the headline Large Manufacturing Index topped estimates, but Large Manufacturers and Non-Manufacturers' sentiment worsened for the first time in 7 quarters.Hang Seng and Shanghai Comp. were mixed with sentiment clouded after the PBoC drained liquidity and Chinese Caixin Manufacturing PMI slipped into contraction territory, although the mainland recovered amid the partial lifting of the lockdown in Shanghai and as Chinese press continued to advocate monetary easing.US equity futures nursed losses but with upside capped; ES +0.3%European equity futures are indicative of a flat open with the Euro Stoxx 50 future relatively unchanged after the cash market closed lower by 1.4% yesterday.FXDXY was kept afloat by recent haven flows and as yields gained overnight, while focus shifts to the NFP data.EUR/USD languished below 1.1100 amid the threat of Russia cutting off the gas supply to Europe.GBP/USD traded rangebound with a mildly negative bias against the greenback.USD/JPY gained on widening yield differentials and a weaker Tankan survey.Antipodeans were uneventful amid the cautious mood, weak Chinese PMI data and recent oil declines.FIXED INCOME10yr USTs retreated as yields were led higher by the front-end which saw a brief inversion of 2yr/10yr curve.Bunds continued to fade recent gains after stalling near the 159.00 level.10yr JGBs were underpinned after the BoJ boosted its scheduled monthly bond purchases and following the deterioration in the BoJ's Tankan survey, but with gains capped after a failed incursion above 150.00.COMMODITIESWTI and Brent were stuck at the prior day's lows after President Biden's historic SPR announcement.US President Biden said an additional 30-50mln bbls of oil could be released by allies and partners, while Biden added the SPR release could cut between USD 0.10-0.35/gallon but depends on how much allies release, according to Reuters.White House Press Secretary Psaki said a gas tax holiday is not off the table, according to Reuters.US House Majority Leader Hoyer said oil companies should either produce on leases and drill wells or pay a fee for unused leases and idled wells, according to EIN News.Japan's Industry Minister said it is not clear whether the latest US decision to release oil will be done by the US alone or become part of an IEA-coordinated release, according to Reuters.Venezuela's PDVSA is looking to buy and lease tankers in anticipation of a possible easing of US sanctions on exports, according to Reuters sources and a document.Turkey raised natural gas prices by 44.3% for electricity production and by 50% for factories, while it also hiked prices by 35% for households.Spot gold traded rangebound amid a slightly firmer greenback and ahead of the US jobs report.Copper was subdued by the cautious mood and with Chinese Caixin Manufacturing PMI at a 2-year low.CRYPTOBitcoin traded lower overnight with prices back beneath the 45,000 level.NOTABLE APAC HEADLINESPBoC injected CNY 10bln via 7-day reverse repos with the rate at 2.10% for a CNY 90bln net drain.PBoC set USD/CNY mid-point at 6.3509 vs exp. 6.3473 (prev. 6.3482).USTR Tai said they are not necessarily looking to negotiate a new agreement on trade with China and will focus on issues not addressed in the 'phase 1' deal, while she added that US trade policy on China will focus on Beijing's targeting of critical industries for domination, according to Reuters. USTR Tai also commented that they are in conversations with Taiwan and other countries interested in joining the Indo-Pacific economic framework.DATA RECAPChinese Caixin Manufacturing PMI Final (Mar) 48.1 vs Exp. 50.0 (Prev. 50.4)Japanese Tankan Large Manufacturing Index (Q1) 14 vs Exp. 12 (Prev. 18)Japanese Tankan Large Manufacturing Outlook (Q1) 9 vs Exp. 10 (Prev. 13)Japanese Tankan Large Non-Manufacturing Index (Q1) 9 vs Exp. 5 (Prev. 9)Japanese Tankan Large Non-Manufacturing Outlook (Q1) 7 vs Exp. 8 (Prev. 8)Japanese Tankan All Big Capex Est (Q1) 2.2% vs Exp. 4.0% (Prev. 9.3%)
APAC stocks were cautious following the uninspiring lead from Wall St, where the major indices closed off their worst quarterly performance in two years and as the region digested weak data releases.European equities (Stoxx 600 +0.6%) opened marginally firmer before extending on gains after positive commentary from Russian Foreign Minister Lavrov.Russia's Foreign Minister Lavrov said Russia is preparing a response to Ukraine's proposals, says there has been movement forwardUS futures are modestly firmer with the ES up 0.5% with gains of a similar magnitude across major indices ahead of the March payrolls report.Greenback has regrouped in advance of NFP with the DXY straddling 98.500. Usd/Jpy bounced further from recent lows beyond near term resistance through to circa 122.75.Looking ahead, highlights include US Final Manufacturing PMIs, US Labour Market Report, ISM Manufacturing PMI, China-EU Summit, Speech from Fed's Evans. GEOPOLITICSRUSSIA-UKRAINENEGOTIATIONS/TALKSRussian confirms that virtual discussions will take place with Ukraine later today, according to Tass.Russia's Foreign Minister Lavrov said Russia is preparing a response to Ukraine's proposals, says there has been movement forward. Lavrov says Russia has seen "much more understanding" of the situation in Crimea and Donbass from the Ukrainian side. Lavrov says peace talks with Ukraine need to continue.UK reportedly urged Ukraine not to back down and is concerned US, France and Germany will push Ukraine to “settle” and make significant concessions to Russia, according to The Times citing a government source.Mayor of Ukraine's Mariupol says Russian forces are not allowing humanitarian aid in; City is dangerous to try and exit.DEFENCE/MILITARYUkrainian President Zelensky said the situation in the south of Ukraine and the Donbas region remains extremely difficult, according to Reuters.Ukraine's envoy to Japan said the situation on the ground is turning better for Ukraine and they will soon be able to protect their skies with advanced military equipment set to be provided by the US and UK, according to Reuters.UK Ministry of Defence said Russia is redeploying forces from Georgia to reinforce its invasion of Ukraine.Governor of Belgorod in Russia near the border with Ukraine confirmed an oil depot fire was caused by a Ukrainian helicopter attack inside of Russia, according to ELINT News. The Kremlin later said the strike does not create comfortable conditions to continue peace talks.Governor of Ukraine's Northern Chernihiv region says Russian troops are withdrawing from the Chernihiv region.ENERGY/ECONOMIC SANCTIONS & UPDATESRussia's Foreign Ministry said Russia will not ask the EU to end sanctions and has a sufficient margin of safety, according to RIA.US State Department called on any US citizens in Russia or Ukraine to leave immediately over concerns of being targeted specifically for arrest, according to Reuters.OTHERJapan froze the assets of 4 additional Russian organisations, 3 Russians and 6 North Koreans for involvement in North Korea's weapons projects, according to Reuters.EUROPEAN TRADEEQUITIESEuropean equities (Stoxx 600 +0.6%) opened marginally firmer before extending on gains after positive commentary from Russian Foreign Minister Lavrov. The Stoxx 600 set to close the week out with marginal gains of around 0.6% in what has been a choppy week for indices.Sectors in Europe are higher across the board with Retail, Banks and Autos top of the leaderboard.US futures are modestly firmer with the ES up 0.5% with gains of a similar magnitude across major indices ahead of the March payrolls report.Click here for more detail.FXYen has relented as yields rebound and repatriation demand dries up - Usd/Jpy bounced further from recent lows beyond near term resistance through to circa 122.75.Greenback has regrouped in advance of NFP with the DXY straddling 98.500.Aussie outperforms as risk appetite picks up and 0.7500 continues to prove pivotal.Euro finds a base after marked month end reversal as hot inflation offset lukewarm manufacturing PMIs - Eur/Usd holding around 1.1050 after soaking up stops on a minor and brief half round number break.Yuan weaker after sub-50 Caixin Chinese manufacturing print, softer PBoC Cny midpoint fix and 7-day liquidity drain - Usd/Cnh above 6.3650.Click here for more detail.Notable FX Expiries, NY Cut:EUR/USD: 1.0975 (430M),1.1000-05 (445M), 1.1050 (290M), 1.1085 (318M), 1.1100-10 (1.01BN), 1.1150 (372M), 1.1175 (292M), 1.1200 (265M)USD/JPY: 119.75-00 (787M), 121.50-60 (1.17BN), 121.67-70 (320M)Click here for more detail.FIXED INCOMEBunds are firmly if not comfortably back on the 158.00 handle compared to a low of 157.71 on EurexGilts are peering over 121.00 vs 120.55 and have been up to 121.19 for just a 4 tick loss on the dayThe 10 year note is hovering above 122-00 within 122-21+/121-28+ extremes awaiting NFPClick here for more detail.COMMODITIESWTI (+0.6%) and Brent (+0.8%) kicked the session off on the backfoot following yesterday's SPR announcement by the Biden administration with WTI breaching it's weekly low printed on Tuesday at USD 98.44 with Brent so far unable to take out its weekly low of USD 102.19. Since then, crude benchmarks have attempted to claw back lost ground and sit in minor positive territory.White House Press Secretary Psaki said a gas tax holiday is not off the table, according to Reuters.US House Majority Leader Hoyer said oil companies should either produce on leases and drill wells or pay a fee for unused leases and idled wells, according to EIN News.Russian oil and gas condensate production slipped to 11.01mln BPD in March vs. 11.08mln BPD in February, according to Reuters sourcesGazprom says refilling storage ahead of winter will be a challenge for the EU.Gazprom says it has begun sending requests of gas-for-rouble payment switch to clients today; sats it remains a responsible partner and continues to secure gas suppliesJapan's Industry Minister said it is not clear whether the latest US decision to release oil will be done by the US alone or become part of an IEA-coordinated release, according to Reuters.It's been another uninspiring session for gold thus far with the yellow metal unable to break out of the USD 1900-50/oz range.Copper remains subdued following the cautious mood overnight and with Chinese Caixin Manufacturing PMI printing a 2-year low, whilst Dalian Iron Ore was able to settle near an 8-month high overnight.Click here for more detail.DATA RECAPEU HICP Flash YY (Mar) 7.5% vs. Exp. 6.6% (Prev. 5.9%)EU HICP-X F&E Flash YY (Mar) 3.2% vs. Exp. 3.3% (Prev. 2.9%)UK S&P GLBL/CIPS Manufacturing PMI FNL (Mar) 55.2 vs. Exp. 55.5 (Prev. 55.5)EU S&P Global Manufacturing Final PMI (Mar) 56.5 vs. Exp. 57.0 (Prev. 57.0)German S&P Global/BME Manufacturing PMI (Mar) 56.9 vs. Exp. 57.6 (Prev. 57.6)French S&P Global Manufacturing PMI (Mar) 54.7 vs. Exp. 54.8 (Prev. 54.8)Italian S&P Global Manufacturing PMI (Mar) 55.8 vs. Exp. 57.0 (Prev. 58.3)Spanish Manufacturing PMI (Mar) 54.2 vs. Exp. 55.5 (Prev. 56.9)CRYPTOBTC is on the backfoot but maintaining USD 45k status for now.APAC TRADEEQUITIESAPAC stocks were cautious following the uninspiring lead from Wall St, where the major indices closed off their worst quarterly performance in two years and as the region digested weak data releases.ASX 200 traded rangebound as pressure from losses in tech, industrials and financials was counterbalanced by resilience in the commodity-related sectors and upgrade to Australian PMI data.Nikkei 225 was subdued after mixed Tankan data in which the headline Large Manufacturing Index topped estimates, but Large Manufacturers and Non-Manufacturers' sentiment worsened for the first time in 7 quarters.Hang Seng and Shanghai Comp. were mixed with sentiment clouded after the PBoC drained liquidity and Chinese Caixin Manufacturing PMI slipped into contraction territory, although the mainland recovered amid the partial lifting of the lockdown in Shanghai and as Chinese press continued to advocate monetary easing.NOTABLE APAC HEADLINESPBoC injected CNY 10bln via 7-day reverse repos with the rate at 2.10% for a CNY 90bln net drain.PBoC set USD/CNY mid-point at 6.3509 vs exp. 6.3473 (prev. 6.3482).DATA RECAPChinese Caixin Manufacturing PMI Final (Mar) 48.1 vs Exp. 50.0 (Prev. 50.4)Japanese Tankan Large Manufacturing Index (Q1) 14 vs Exp. 12 (Prev. 18)Japanese Tankan Large Manufacturing Outlook (Q1) 9 vs Exp. 10 (Prev. 13)Japanese Tankan Large Non-Manufacturing Index (Q1) 9 vs Exp. 5 (Prev. 9)Japanese Tankan Large Non-Manufacturing Outlook (Q1) 7 vs Exp. 8 (Prev. 8)Japanese Tankan All Big Capex Est (Q1) 2.2% vs Exp. 4.0% (Prev. 9.3%)
The Trade and Industry Minister says the new Toyota hybrid car launched today is a step towards a greener future.
Welcome to another edition of the OTPBD News Special, our fortnightly series which analyses the news that matters for Australian and Kiwi startups.Meet this week's panel...John Henderson, AirTree VenturesStew Glynn, TEN13Topics we discuss: Christian Porter resigning as Industry Minister, Immutable securing $82 million in funding, Canva raising $200 million at a $40 billion valuation, Microsoft acquiring Brisbane-based Clipchamp, BNPL platform Scalapay becoming a unicorn, Delegate Connect's $10 million seed round, Insurtech Open raising $31 million in a series B, and Startmate proposing a change to startup investment rules.
ENCORE PRESENTATION ***With the Akhameyimok Podcast on summer hiatus and a federal election now underway, we are re-running National Chief Bellegarde's best interviews from the past year with leaders and senior members of the main federal political parties to help provide a sense of where they stand on issues important to First Nations and Indigenous people. **** ***This interview with the Liberal Government's Industry Minister, Catherine McKenna, was first posted on April 22, 2021*** On this special Earth Day episode of the Ahkameyimok Podcast, Catherine McKenna, the Federal Minister of Infrastructure and Communities and a former Environment Minister, joins National Chief Bellegarde to discuss the $6 billion in funding for First Nations specific infrastructure projects in the latest Federal budget, why she instructed the Canadian Infrastructure Bank to set aside $1billion in loans for Indigenous specific investments and why infrastructure is a big part of the fight against Climate Change and what role First Nations play in that. To learn more about the $1 billion Canadian Infrastructure Bank Indigenous loan program, visit: https://cib-bic.ca/en/partner-with-us/growth-plan/indigenous-infrastructure/ For more on the work of the Assembly of First Nations, visit: AFN.ca The Ahkemeyimok Podcast is produced by David McGuffin of Explore Podcast Productions in Ottawa And a big thanks to the Red Dog Singers, Treaty 4 Territory in Saskatchewan, for our theme song, Intertribal.
One on one with Minister of Trade and Industry Hon. Alan Kyerematen; Over 150 thousand jobs have been created by the government under the One District, One Factory (IDIF) initiative, Trade and Industry Minister, Alan Kyerematen, has revealed.
In this episode of the Defence Connect Podcast, Minister for Defence Industry Melissa Price and shadow minister for defence industry Matt Keogh discuss their competing agendas for supporting Australian industry capability. The policymakers begin by outlining their competing platforms, explaining how they plan to support the development of the local defence industry. Minister Price and Keogh then delve into the Commonwealth government’s 2021-22 budget, assessing the adequacy of current funding commitments for defence industry projects. The pair go on to discuss the importance of building Australia’s workforce to ensure long-term support for key defence capabilities across the warfighting domains. Finally, Minister Price and Keogh weigh in on the current geopolitical environment, outlining whether they believe the ADF is sufficiently equipped to manage emerging threats. Enjoy the podcast, The Defence Connect team
John Lawford, PIAC's Executive Director and General Counsel welcomes special guest Konrad von Finckenstein, PIAC's current Chair of the Board, to work through options the Competition Bureau, the CRTC and the Industry Minister could have to modify the deal to preserve at least some competition. In a spirited conversation, Mr. Lawford attempts to outline consumer frustration with the process and the deal, while Mr. von Finckenstein calmly discusses the cold, hard calculations in the regulatory, merger and political fields and how they could play out in a frankly challenging merger with no easy way to ensure the same level of competition before and after. He should know: he has been Commissioner of Competition, Chair of the CRTC, advisor on mergers to the Industry Minister, Federal Court of Appeal justice and much more. But that doesn't stop Mr. Lawford from trying. Both agreed, however, that the CRTC's upcoming MVNO decision, expected the very next day, would change the context and maybe the entire conversation.We hope that this lively exchange of views will help consumers understand the complexities of mergers in Canada and that their voice is needed.
Genevieve Beauchemin, CTV News; Francois Philippe Champagne, Innovation, Science and Industry Minister; Michelle Rempel Garner, Conservative MP; Don Davies, NDP MP; Bob Fife, The Globe and Mail; Emilie Nicholas, Le Devoir; Paul Lucas, Former CEO of GlaxoSmithKline.
Maxime Bernier is known as a dependable politician who speaks his mind. A man of ideas, his belief in personal responsibility and freedom is at the heart of his political vision. In his public statements, he expresses those values and his unwavering commitment to reducing the size of government. In 1985, Mr. Bernier earned a Bachelor of Commerce degree from the Université du Québec à Montréal and entered Law at the University of Ottawa. He was called to the Quebec Bar in 1990. Mr. Bernier has a long-standing interest in business and during his career worked for several financial and banking institutions before becoming Executive Vice-President of the Montreal Economic Institute in 2005. Many people in the region encouraged him to enter politics. He took up the challenge and was elected Member of Parliament for Beauce on January 23, 2006, with the largest majority outside Alberta (he will remain MP of the constituency until 2019). He was appointed to Cabinet on February 6, 2006, as Minister of Industry. His success in deregulating major portions of the telecommunications sector prompted the chair of the Political Science department at McGill University, Professor Richard J. Schultz, to write, “In terms of what is perhaps the single most important component of his Industry portfolio, telecommunications, he was without challenge the best Industry Minister in thirty years.” Mr. Bernier also served as Minister of Foreign Affairs from August 14, 2007 to May 26, 2008. He was re-elected to represent Beauce on October 14, 2008, again receiving the largest majority of all MPs in Quebec. Learn More about the Peoples Party of Canada Here: https://www.peoplespartyofcanada.ca/ Follow Us: Instagram: www.instagram.com/crossborderpodcast/ Twitter: twitter.com/CrossBorderPod Facebook : www.facebook.com/CrossBorderInterviewPodcast/ Website: www.crossborderinterviews.ca/ Cross Border Interviews is owned by Miranda, Brown & Associates Inc.
In the first podcast of 2021 the BackinBusiness team and guests do some crystal ball gazing: what do the next 12 months hold for small businesses and freelancers.They're surprisingly optimistic on some fronts. Join the team with guests businessman Doug Henderson, who was MP for Newcastle upon Tyne North from 1987 to 2010 and Shadow Trade and Industry Minister under Neil Kinnock, Dr Roger Barker Director of Policy and Corporate Governance, at the Institute of Directors, and Tracey Dawson MD of Daletech Electronics in Pudsey Leeds.
Colin D'Mello, CTV News; Steven Del Duca, Ontario Liberal Leader; Dr. Abdu Sharkawy, CTV News Infectious Disease Specialist; Navdeep Bains, Former Innovation, Science and Industry Minister; Dr. Isaac Bogoch, Ontario COVID-19 Distribution Task Force; Bob Fife, The Globe and Mail; Emilie Nicholas, Le Devoir; Nik Nanos, Nanos Research.
Industry Minister Andrew Parsons - Silver Lining Of Canopy Growth Shut Down by VOCM
Paul Workman, CTV News; Abby Kuhathasan, CTV News; Navdeep Bains, Innovation, Science, and Industry Minister; Rachel Notley, Alberta NDP Leader; Perry Bellegarde, AFN National Chief; Bob Fife, The Globe and Mail; Emilie Nicholas, Le Devoir; Don Gerson, PnuVax; Dr. Kwadwo Kyeremanteng, palliative care physician.
Industry Minister Andrew Parsons - Discussions With The Airport Authorities On Recovery Plan by VOCM
Navdeep Bains, Innovation, Science, and Industry Minister; Maryscott Greenwood, Crestview Strategies; Avik Roy, The Foundation for Research on Equal Opportunity; Jagmeet Singh, NDP Leader; Joyce Napier, CTV News; Karl Dockstader, CKTB 610 AM; Daniel Therrien, Privacy Commissioner; Rona Ambrose, Fmr. Interim Leader of the Conservative Party.
As Sir Keir Starmer presses Boris Johnson over track and trace, Nick looks at what implementation at a local level would look like with Greg Fell who is the Director of Public Health at Sheffield City Council. Business and Industry Minister, Nadhim Zahawi talks about increasing dining in England. Plus it’s reported that the first wave of air bridges will focus on Mediterranean holiday destinations.
The House of Representatives has summoned the Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, and the management of the Standards Organisation of Nigeria over failure by the SON to audit its accounts for six years. The House Committee on Public Accounts particularly summoned the minister on Tuesday over the alleged failure by the SON to answer a series of invitations sent to its management. The committee, therefore, asked Adebayo and the management of the Organisation to appear before it on Friday unfailingly. According to the lawmakers, the summons was based on information from the Office of the Auditor-General of the Federation that the SON failed to render accounts from 2014 to 2019. The Chairman of the committee, Mr Wole Oke, stated that the SON was being given an opportunity to answer audit queries and defend its non-rendition of accounts for the financial years under review. Oke ruled that those summoned must appear before the committee on Friday or it would be forced to invoke the relevant sections of the law against them. Learn more about your ad choices. Visit megaphone.fm/adchoices
On Market View, Michelle Martin and Ryan Huang discuss economies opening up and Boris Johnson's 'shop with confidence initiative,' bearish sentiment in US markets and Trade and Industry Minister, Chan Chun Sing's speech about globalisation.
Navdeep Bains, Industry Minister; James Moore, Fmr. Industry Minister; Kevin Gallagher, CTV News; Tom Mulcair, CTV News Political Analyst; Tonda MacCharles, Toronto Star *The viewpoints expressed in this podcast represent the opinions of the host and participants as of the date of publication and are not intended to be a substitute for medical advice and best practices by leading medical authorities as the information surrounding the current coronavirus pandemic is constantly evolving.
Genevieve Beauchemin, CTV News; Susan Le Jeune D’Allegeerschecque, Britsh High Commissioner to Canada; Navdeep Bains, Industry Minister; Jagmeet Singh, NDP Leader; Joyce Napier, CTV News; Glen McGregor, CTV News; Bruce Heyman, Former U.S. Ambassador to Canada. *The viewpoints expressed in this podcast represent the opinions of the host and participants as of the date of publication and are not intended to be a substitute for medical advice and best practices by leading medical authorities as the information surrounding the current coronavirus pandemic is constantly evolving.
Navdeep Bains, Industry Minister; Tom Walters, CTV News; Kevin Gallagher, CTV News; Glen McGregor, CTV News; Lisa Raitt, CTV News Political Analyst; Jason Kenney, Alberta Premier. *The viewpoints expressed in this podcast represent the opinions of the host and participants as of the date of publication and are not intended to be a substitute for medical advice and best practices by leading medical authorities as the information surrounding the current coronavirus pandemic is constantly evolving.
Navdeep Bains, Industry Minister; Dennis King, P.E.I. Premier; Evan Solomon, CTV News; Rachel Aiello, CTV News. *The viewpoints expressed in this podcast represent the opinions of the host and participants as of the date of publication and are not intended to be a substitute for medical advice and best practices by leading medical authorities as the information surrounding the current coronavirus pandemic is constantly evolving.
Navdeep Bains, Industry Minister; Arif Virani, Liberal – Ontario; Mark Strahl, Conservative – British Columbia; Rachel Blaney, NDP – British Columbia; Rachel Aiello, CTV News; Carly Weeks, The Globe and Mail.
Navdeep Bains, Industry Minister; Minister; Darren Fisher, Parliamentary Secretary to the Health Minister; Garnett Genuis, Conservative – Alberta; Jenny Kwan, NDP – British Columbia; Brian Pallister, Manitoba Premier; Joyce Napier, CTV News; Stephanie Levitz, The Canadian Press; Eric Duncan, Conservative – Ontario; Scott Reid, CTV News Political Commentator.
As the recently appointed shadow defence industry minister, a key priority for Matt Keogh in his new role is to develop Australia's sovereign capability through engagement with industry. He sits down with host Phil Tarrant at Pacific 2019 to discuss Defence's commitment to national interest above all else, what more needs to be done to support the industry moving forward, and his advice to SMEs about cultivating a good relationship with government and the opposition. Enjoy the podcast, The Defence Connect team
John Manley is Canada’s former Industry Minister, Finance Minister, Minister of Foreign Affairs and Deputy Prime Minister. John recently stepped down after nine years as head of the Business Council of Canada. As you’ll hear, John’s commitment to his family, career, and public service in both politics and business are truly remarkable. Follow us on Twitter, join our mailing list, or visit our website
What follows is an edited transcript of my conversation with Maxime Bernier. If you like his ideas, I encourage you to go to his website to learn more about them. Petersen: You're listening to Economics Detective Radio. Before we start let me give a quick disclaimer that although today's guest is a politician this show is nonpartisan and doesn't endorse any particular candidate for office. My guest and I are also Canadian so we'll be talking about some Canada-specific issues. I know I have an international audience but sometimes it's fun to learn about what's going on in other countries. So I hope you'll listen nonetheless. And now on to the episode. My guest today is Maxime Bernier, he is the Member of Parliament for Beauce, Quebec and a contender for the Conservative Party leadership race. Maxime, welcome to Economics Detective Radio. Bernier: Thank you very much for having me. Petersen: So, our topic today will be Canada's economy and its economic policy. There's a lot to get to on this topic but let's start with the positive. The Fraser Institute's Economic Freedom of the World Index ranks Canada as the fifth freest country in the world, actually tied for fifth. We're well ahead of our neighbors, the Americans, who come in at number 16. So, to start our discussion, Maxime, what is Canada doing right with respect to its economic policy? Bernier: First of all, I think that this was the ranking that the Fraser Institute did a year ago, if I remember very well, and at that time we had a balanced budget when we were in government and also we were successful in lowering taxes for every Canadian. And I think that's a key when you speak about more freedom you must also have less government and a limited government in Ottawa. And I think that was the goal of the Conservative government when we were in government. And also we have a lot of free trade. That's very important. We signed free-trade agreements with I think, if my memory is good, 45 countries. So, when you have more free trade like that, Canadians are able to buy goods from every country and they are able to also export products. So, that's helping also. More free trade, less government, lower taxes and I think that's a big reason why we are there now. Petersen: Yeah, there's a pretty general economic freedom, and you mentioned that that ranking came out last year and we have had a change of government recently so let's see if we can keep our high position. But let's move on to some specific areas where we're not so free. Let's start with telecommunications. Canadians have some of the most expensive cell phone bills in the world. You personally did some work in deregulating the telecommunications sector when you were Industry Minister in 2006-2007. Can you talk a little bit about the changes that happened then and where we are now? Bernier: Yeah, at that time we wanted to deregulate the telecom industry, mostly the regulation that was imposed by the CRTC. We were successful in doing that, and afterwards I think we had a little bit more competition in Canada in telecom. But we didn't have time to also abolish the restriction on foreign investment in telecommunication. And so I think that would be the next step to take to have a bit more competition. And so that's why in my program I have a very strong platform about deregulating and also abolishing the prohibition on foreign investment in telecom and also in the aviation sector. So like that, corporations from outside Canada will be able to invest here in telecom and that will help Canadian consumers, who will have more choices and lower prices. But it was the deregulation that we did---that I did when I was Industry Minister---that was the first part of the deregulation. So now we must go ahead with abolishing the prohibition on foreign investment in telecom. Petersen: Right. The vast majority of Canadians live right on the border with the United States and if you just step across the border suddenly you can buy a data plan for much less. One thing I was struck by when visiting the United States was that people just watch YouTube videos when they're on their mobile data. And you don't see that in Canada because it's so incredibly expensive. So, I wouldn't be surprised if we allow the American companies to sell to us if we wouldn't get exactly the same plan they're getting which would be great. Bernier: Yes, I just want to add that Verizon, I think they wanted to come to Canada but they were not able to. They had created a Canadian corporation and all that and at the end, they decided not to come to Canada like their operations in the US. So, I think that will be a big step if we are successful in abolishing the restriction on foreign investments. That would make a difference for Canadian consumers. Petersen: So, we have a similar issue with the airlines. It's very, very expensive to make a domestic flight within Canada, for instance, flying Vancouver to Toronto is about twice as much as flying L.A. to New York even though they are similar distances. So, do you want to comment on that situation? We only have the two airlines West-Jet and Air Canada. Could that be similarly fixed? Bernier: Yes, you're absolutely right. If you want to fly from Canada to another country it is still competitive, but if you want to fly in Canada, inside the country, from example Montreal to Toronto, or other cities like that, it is very expensive. Because, like you said, we have only two main carriers in Canada: West-Jet and Air Canada. And we don't have like other countries a low-cost carrier. So, we need to have one and I know that some business entrepreneurs want to create one low-cost carrier but their funding, their capital it's coming from the U.S. and from U.K. And you still have the same things in aviation, we have a restriction on foreign investment coming from other countries. So, that's why we must abolish that and like that we'll have a low-cost carrier and that will compete against Air Canada and West-Jet. That adds more competition, more choice and at the end lower prices. So, I know that the Federal Government and the Minister of Transport, they're looking at it right now because these entrepreneurs want to create that corporation, a low-cost carrier. And they're ready for that. They're looking at it right now so, I hope they will abolish that but I'm not so sure. This is why for me, I have a platform that is based on more freedom and less government and it will be always good for Canadians. That is why I'm pushing that very hard, I wrote to the Minister about that to be sure that they will abolish foreign restriction in the investment in the aviation sector. I don't know if they will do it but if not I will do it when I will be the leader of the party and Prime Minister. Petersen: Yes, I hope you succeed in that. This one is a particularly important one because if airfare is expensive then more people drive and driving is statistically much more dangerous. So, you have more highway fatalities. I personally drove over 1,200 kilometers to visit family over Christmas. So, I'd really love to have an option to fly cheaply but it's just out of reach at our current airfare prices. We also have a problem here in Canada, a similar related problem with cartels. We tend to create cartels in a lot of industries and we have one set of policies called Supply Management that applies to poultry, dairy products, even maple syrup (which is very quintessentially Canadian) keeping these prices artificially high. So, could you talk a bit about Supply Management for those who maybe haven't heard of it? Bernier: Yes, Supply Management it is a legal cartel for dairy, poultry and eggs and the like. The producers on the Supply Management are able to fix high prices for these products and they are fixing the production also. That's why it's a cartel, they're fixing the production for the Canadian market and they are fixing the price, every year they increase the price of these products. So, I am the only candidate for the leadership of the Conservative Party of Canada and also the only member of Parliament who's speaking for Canadian consumers and that wants them to save $2.6 billion every year. Because that's the cost of keeping that cartel and for a family the cost is $500 every year. I want them to be able to buy poultry, eggs, and milk from other countries---they want to export that---but because we have tariffs at the border of 300% on products coming from other countries to be sure that the dairy producer in Canada will be able to fix high prices for their products. So, for me, if you believe in a free market you must abolish that and I don't want to do work for 19,000 farmers that are on Supply Management, I want to work with 35 million Canadians. And I think that's the most important for me and actually, the farmers just represent 10% of the farmers and all the other farmers in Canada, like the beef producers and all the other farmers are not on the Supply Management, they are operating in a free market. So, it is not fair and to be fair we need to abolish that but because as a special interest group they are very powerful and they're very well connected with the politicians, they were able to keep that privilege for a very long time and I think now it's time to speak for Canadian consumers and that's what I'm doing so I hope to be successful with that. Petersen: Ironically Facebook has been serving me advertisements from the Canadian milk producers and their tagline or slogan is Canadian milk is worth crying over, or spilt Canadian milk is worth crying over, or something like that. And the irony is that if they supply too much milk, because of Supply Management they actually have to dump it to keep the price high. So it is really just wasting perfectly good milk and poultry. Bernier: Yes. If they produce too much they cannot export their surplus because it's a subsidized milk. So that's why it's bad for them. They are producing good products, good milk, good dairy, good poultry, and eggs and I want them to be able to export their products to other countries and right now on Supply Management they can't because they have the responsibility and the obligation to produce only for the Canadian market. Petersen: You mentioned the 300% border tariff on U.S. dairy. I think in the U.S. they have a different policy where they actually subsidize it and keep the price artificially low. But we had this strange situation a few years back where Canadian pizzerias were smuggling in black market mozzarella over the border and got caught. You shouldn't have to smuggle mozzarella cheese. If we had a free market, there would just be one price for mozzarella cheese and you wouldn't get a benefit by smuggling it. You mentioned that you're really the only one calling for an end to this Supply Management policy and yet our Prime Minister for almost a decade, Stephen Harper, has a Master's degree in economics. He must have known that this policy was not good for Canadians. And most of the MPs are smart people, they must realize it, but is it as simple as the cartels themselves just making big donations and buying protection for this policy? Bernier: First of all, you're right, when we were in government that was the policy of our government to keep that cartel, that Supply Management system. All the members of the Conservative Party of Canada voted in 2004 in a convention to protect these farmers and after that when we were in government in 2006-2007, that was the policy of the government, and that was the policy of the government until the end, until 2015. And I think that at that time we didn't want to displease the cartel and that special interest group. And I tried to fight for that on the cabinet table but I wasn't successful. Most importantly, I think now I'm able to do it and I will ask---if I'm the leader of the Conservative Party---I will ask the members to decide on that and to review their policy statement that they did more than 12 years ago, and I hope the members will abolish that and they will believe in a free market also for producers on Supply Management. Petersen: Have the supply managed industries been pushing back against you? Have they been taking out ads or funding your opponents? How are they trying to protect their cartel status? Bernier: For sure. It's an important cartel in Quebec and in Ontario, they want to do everything for Maxime Bernier to not be elected. And so I think they are buying memberships to vote for the leadership of our party to be able to vote because, as you know, you need to be a member. If you want to be a member and support my candidacy you can go on my website www.maximebernier.com and you'll be able to become a member for only $15. But, yes, the dairy producers are working to be sure that I won't be elected. But there's more Canadians than dairy producers. So, I'm working hard to be sure to be successful because they want to keep their privilege and we'll see what will happen. And it's easy for them because I'm the only candidate who wants to abolish that and speaking for Canadian consumers, so they can vote for all the other candidates and they will have somebody who will support their special interest. Petersen: I hope you succeed. And you're right there are more Canadians than supply managed firms or farmers that benefit from this particular policy. But you have this issue of the cost being dispersed and so although there are fewer farmers who benefit from the cartel and from Supply Management there may be a lot more motivated per capita. So, I hope you can succeed in getting over that, sort of, public choice hurdle. But my cynicism kind of says that it's an uphill battle. Bernier: Absolutely. But also, I must say that the other farmers that are not on Supply Management, they have a huge interest also for that cartel to be abolished because it's not fair for them. Each time Canada is negotiating a free trade agreement with another country they have access, for example, Canadian beef will have access to the other country's market, but they won't have the full access because we're not giving full access to their milk, poultry, and eggs. So at the end, they are paying a little bit for that and they don't have the access that they would have otherwise. And they understand that. So the other farmers that are not on Supply Management have the interest to be sure that we have all these steps that can counterbalance the special interest group. Petersen: I wonder about that because if beef and poultry are substitutes then you would think that the beef producers would want their competitor to have higher prices than they do so people would maybe buy more beef. But there is the issue of the international agreements. You've called for the privatization of Canada Post and the removal of its monopoly on letter mail. That's another area where Canadians pay more, not just for letters but also parcels shipping to and from and within Canada is much more expensive than it is in the United States and other places. So could you talk about what the legal status of Canada Post is and what both parcel shipping and regular mail are, what the legal status of both of those is? Bernier: Yes, you're absolutely right. Canada Post is a state-owned enterprise and I think in 2017 we must do like other countries and privatized that. They are charging at a huge cost because they are not competitive, they have huge expenses and they're not so efficient. So, my thinking about that is, these are not services that Canadians need to be delivered by a government entity. We have a private sector for delivery and I think that it is not an essential service for Canadians any more. And they are using Canada Post less and less with emails and all that, and so we must do like in Belgium, like in U.K., like in France and privatized it. Also, they're charging very high prices for their products. So, if we have more competition, that will help and at the end that's the solution. But they want to keep that and for me if you want to speak for Canadian consumers you must go ahead and do that reform, that's my proposal. Petersen: Yes, it's such a big issue because in other countries that have much cheaper shipping, people are opened up to the whole global marketplace, you don't have to go to your local store to buy any particular good, you can buy it online and have it shipped to you. But for Canadians, you're adding $10-$15 to the price and so Canadians aren't really online buying things nearly as much as, for instance, our neighbors the Americans. And when Canadians want to run online businesses and maybe ship things to other people to stay competitive they often have to drive across the border and ship from the United States because it is just so much cheaper. And Canada Post has a legal monopoly on letter mail which is a little bit odd. Why should one particular government entity have the legal right to ship our mail? It's kind of an odd historical anomaly that we could be rid of. Bernier: And you have to think the price also. It's not a free market. It is them who are fixing the price because, like you said, they have a legal monopoly. That's what I want to do, I want to be sure that we can have competition there. Petersen: You've also called for reducing trade restrictions within Canada. This is one of those things that is so odd, is that we're one country, ten provinces, but we restrict many goods from being shipped within our own country across borders. So for instance alcohol. If you have a craft brewery or a winery in British Columbia it's very hard to ship it to even Alberta right next door. Can you talk about some of the internal trade restrictions that we have in Canada? Bernier: Yes. We have a lot of them in these kinds of industries, but for me it is a bit of a shame that after 150 years we don't have an economy of exchange in Canada, because that was the goal of the Fathers of our Constitution. The fathers of our country, they wanted to have an economic union and we don't have that because of some restrictions, legislation, and regulation by provinces. So, my goal is to be sure that we'll have an economic union. And to do that, it's against the Constitution and so I want to be sure to have a team in Ottawa of civil servants that will look at all the regulations and the legislations that are imposed by provinces and to bring provinces in front of the court when they don't respect the Constitution. Nobody has had the courage to do that and I think it's time to do it. And that will be the only solution because I cannot change the legislation or regulation at the provincial level and at the federal level we must respect the Constitution. But I can assure Canadians that we'll do everything for the provinces to respect the Constitution. That's why we're going to bring the province in front of the court and the court will decide if it's constitutional or not. And I think it won't be because it's clear in the Constitution that we must be able to sell and buy goods from any province in Canada. That would be the solution. Because if you ask the provinces to do that, they have the problem and they cannot find the solution. So, that's why every year you have a meeting with the premier at the provincial level and they're saying, you know, we will abolish trade barriers and all that and it is not happening. And they're the problem and they're not able to do that. They want to protect their own little market it is not good for Canadians, so we must do something at the federal level and that's what I want to do. I want to do a strong analysis of every regulation, legislation that provinces are imposing, legislations that are against free trade and after that bring them in court and the court will decide. And in the end I'm sure it will be unconstitutional and maybe when you do that, in five years after that, you have a real economic union in Canada like the fathers of our Constitution wanted. Petersen: Yes. One wonders what is even the point of having a country if you're not going to have at least free trade within your borders? That seems to be the main benefit of all confederating and joining into one country instead of being 10 smaller countries. Do you have any concluding thoughts, anything we didn't cover that you'd like to say? Bernier: First of all I want to thank you for giving me that opportunity to speak with your people and if they want to know a little a bit more about our economic policy, they can go on my website www.maximebernier.com. Everything is there and I'm very proud of our platform. It's a platform that is based on individual freedom, personal responsibility, respect, and fairness and it is a platform that is based on real conservative values and the values of Western Civilization. So, if people like that they can become a member and they can vote for the leadership. I appreciate that you gave me this opportunity and maybe another time we can go on and speak about other economic issues. Petersen: My guest today has been Maxime Bernier. Maxime, thanks for being part of Economics Detective Radio. Bernier: Thank you very much and have a nice day.
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