SOUTH ASIAN PULSE HEADLINES MARCH 9TH 2016
1. Bank of Canada has kept its overnight lending rate at 0.5%. In 2015 the bank cut rates twice. Bank of Canada’s governor Stephen Poloz has said the global recession is fading and oil prices are on the upswing. He said the Liberal government’s infrastructure stimulation will revive the sluggish economy of Canada. However the March economic outlook remains the same as of January. The bank has also predicted a 1.5% growth this year in wake of progress seen in the global economy and envisaged by the bank in its January Monetary Policy report.
2. Canadian dollar jumps up. Oil prices also went up by 30% in March compared to February.
3. Prime Minister Justin Trudeau is leaving for USA today. He will attend the State Dinner in Washington DC tomorrow – the first by a Canadian head of the state in 19 years. During the meeting the Trudeau and Obama will discuss trade, border security and climate change among other issues.
4. Former federal finance minister Joe Oliver has joined the Montreal Economic Institute as a ‘Distinguished Senior Fellow’.
5. Tory MP Blaine Calkins has criticized Prime Minister Justin Trudeau saying it is using US visit to raise funds.
6. Immigration Minister John McCallum’s yesterday 2016 immigration plan stresses more on family unification after refugees settlement.
7. In Ottawa, Liberal MP Mauril Belanger, diagnosed with ALS earlier, will preside as Speaker for one day.
8. About 497 Esso retail stations will be sold by Imperial Oil for C$2.8 billion.
9. Alcohol and speeding were the two main factors in the Ferrari crash that killed two Canadians in Dubai.
10. Trump won in Mississippi, Michigan and Hawaii; Bernie Sanders in Michigan and Hillary Clinton in Mississippi.
11. Amid financial crunch and cash flow problems, the Saudi Arabian government is seeking a bank loan of $8 billion.
12. The India-Pakistan World T20 match, to be played on March 19, has been shifted from Dharamsala to Kolkata amid security concerns. But the arrival of both women and men’s teams, scheduled today has been postponed. It is being said that the India-Pakistan match might be moved even from Kolkata to Delhi. However, PCB Chairman Shahryar Khan has said there still is no clarity on the issue and has accordingly informed the government. Earlier Pakistani Prime Minister Nawaz Sharif had asked PCB to present him a detailed security report. Pakistan’s security team was also sent to India to assess the situation.