Wednesday, August 24, 2011

RCI Cyberjournal

Edition 23 August 2011
Canadian International Financial Sports Weather
Canadian

OPPOSITION LEADER TO HAVE STATE FUNERAL

A state funeral will be held on Saturday for Jack Layton, the late leader of the Official opposition New Democratic Party, who died of cancer on Monday at the age of 61. Canada's Prime Minister Stephen Harper offered Mr. Layton's partner, Olivia Chow, the honour of a state funeral and she accepted. The honour of a state funeral is usually only reserved for prime ministers, governors general and sitting cabinet members. The Prime Minister's Office says a state funeral will give Canadians the chance to salute the NDP leader's many contributions to public life and collectively to mourn his passing. Canadians everywhere have been saluting Mr. Layton for his courage, his boundless optimism and his tireless devotion to making Canada a better place. In his final public letter, written two days before his death, Mr. Layton recommends that Member of Parliament Nycole Turmel stay on as interim party leader and that a leadership vote be held early in the new year.



LIBYAN REBELS USE CANADIAN MILITARY DEVICE

A Canadian high-tech firm says Libyan rebels are using a drone in their struggle to oust Moammar Gadhafi's government. Aeryon Labs Inc., based in Waterloo, ON, says it has supplied the National Transitional Council with one of its miniature drones. The drone resembles a toy helicopter and at 1.3 kilograms is small enough to fit into a backpack. The device shoots high-quality video that is beamed back in real time to smartphones like the BlackBerry. The drone was supplied to the rebels by an Ottawa-based security firm, Zariba Security Corporation, which also trained in its use.



CANADA TOO BROKE TO ATTEND WORLD FAIR

Canada has declined South Korea's invitation to attend Expo 2012. The South Korean embassy says Heritage Minister James Moore responded to an invitation to attend the World Fair with a letter expressing his regrets that Canada won't participate. The letter explains that the Canadian government has a number of key domestic priorities, including a return to a balanced budget.



TRANSPORT OFFICIALS SEEK CLUES TO DEADLY CRASH

Officials of Canada's Transportation Safety Board are hoping to have more details soon on a plane crash in the northern region of Resolute Bay in the eastern Arctic territory of Nunavut that killed 12 people on Saturday. The black boxes containing conversations in the cockpit and technical flight data from the First Air flight now are in an laboratory in the federal capital Ottawa for processing. Officials say it will be several days before they will be able to analyse the information gathered in the final moments of the flight and their final report on the crash could take more than a year. All four of the flight's crew are among the dead.



NS SUFFERS HUGE JOBS LOSS

Premier Darrel Dexter of Canada's east coast province of Nova Scotia says the loss of hundreds of jobs at a Cape Breton paper mill is a devastating blow. The U.S.-based NewPage Corporation says nearly 600 workers at the plant in Port Hawkesbury will be laid off next month as the company struggles with a stronger Canadian dollar and rising operating costs. Mr. Dexter has told NewPage that he's willing to help the company look for solutions to its money problems.





International

LIBYA

Libyan insurgents say they've seized the oil port of Ras Lanuf and that the soldiers loyal to Moammar Gadhafi who were defending it have fled to his hometown of Sirte. The oil facilities are said to be undamaged. One of Libya's six main oil export terminals is located at Ras Lanuf, and was handling almost 200,000 barrels of oil a day before the fighting began in February. Earlier Tuesday, the rebels captured Gadhafi's compound in Tripoli. And Libya's main rebel organization says UN Secretary General Ban Ki-moon has called a meeting in New York on Friday to discuss Libya's future. A spokesman for the National Transititonal Council at the UN says the talks will include the African Union, the Arab League and the EU. The spokesman says the world body's special envoy for the post-conflict recovery was in Doha on Tuesday for the with the Council regarding the country's reconstruction, in which the UN is expected to play a major role.



VENEZUELA

Venezuelan President Hugo Chavez has maintained his support for the crumbling Libyan régime of Moammar Gadhafi, reiterating that that country has only one government. Mr. Chavez repeated earlier criticism of the NATO air bombardments that have contributed to the current situation on the ground, repeating as well his accusation that NATO's interference is a power grab aimed at seizing Libya's oil.



UNITED STATES

A strong earthquake measuring 5.9 struck the U.S. east coast on Tuesday. The U.S. Geological Survey said the epicenter was 54 kilometres from Richmond, VA. It rattled buildings in downtown Washington and caused evacuations of the Pentagon, the U.S. Capitol, parts of the White House and of buildings as far away as New York City and Boston. Structural damage was reported to the Washington National Cathedral, the highest building in the city, as well as some buildings north of New York City. Major East Coast airports temporarily delayed flights to inspect runways and control towers for damages. There were no immediate reports of other damages or of injuries. Federal officials say two nuclear reactors in Virginia were automatically taken off line by safety systems around the time of the earthquake. The earthquake was felt as far away as eastern Canada.



CHINA

Media reports say the head of a Chinese railways technology firm blamed for faulty signaling gear that caused a high-speed rail crash last month died of a heart attack while the company was being inspected. Ma Cheng, the 55-year-old chairman of the board at China Railway Signal and Communication Corporation, collapsed in his office in Beijing on Monday as investigators arrived at the company. The July crash between two high-speed trains in Wenzhou in eastern China that killed 40 people triggered public anger and a freeze on approvals for new railway projects. Officials blamed the accident first on a lightning strike and then on the company's faulty signal technology. But Chinese media have quoted a senior investigator as saying the crash also exposed management failings and could have been avoided.



RUSSIA

The Russian authorities have arrested a former police officer in connection with the murder of investigative journalist Anna Politkovskaya in 2006. Russia's Investigative Committee says former Lieut.-Col. Dmitri Pavlyuchenkov has been detained on suspicion of organizing the murder. Her former newspaper, Novaya Gazeta, says he's suspected of having received an order for the killing, assembled its perpetrators and given the killer the gun that was used. Earlier this year, the authorities arrested Rustam Makhmudov, who is accused of being the gunman. Two of his brothers were acquitted of involvement in 2009





Financial

PROTESTS AGAINST CANADIAN PIPELINE PROJECT CONTINUE

Canadian actress Margot Kidder was among the latest group of environmental protesters arrested in the U.S. for protesting against a proposed oil pipeline extension linking the Canadian province of Alberta to the U.S. Gulf Coast. The two-week long protest is taking place outside the White House. Activists want President Barack Obama to deny a permit for the 2,700-kilometre pipeline. They claim the oil from Alberta's tarsands is dirty and is the world's biggest emitter of carbons. They fear a potential leak in the proposed pipeline could cause an environmental disaster. TransCanada Keystone XL says its pipeline would provide jobs and a much-sought energy source for the U.S. Dozens of people have been detained and released since the demonstrations began on the weekend.



ROMANIA IMPOSES NEW CONDITIONS FOR CANADIAN MINE PROJECT

The Romanian government has imposed new conditions for a proposed Canadian-backed gold mining project. The country's environment minister, Laszlo Borbely, says the project can only proceed if the Rosia Montana Gold Corp. reduces the amount of cyanide that will be used to a level that doesn't pollute. The minister acknowledged that the planned levels are below EU standards. The minister also wants the company to invest to restore the southern area's environment in the first years of extraction. The company is 80-per cent owned by the Canadian mineral firm Gabriel Resources. The Gbriel wants to invest $1.7 billion to extract 300 tonnes of gold and 1,700 tonnes of silver, one of the biggest mineral deposits in Europe. Critics of the project complain that the cyanide will be highly polluting and that the open-air pit would destroy Roman mining galleries.



MARKETS

TSX on Tuesday: 12,338 + 270. Dollar: US$1.01, down .15. Euro: $1.42, down .10. Oil: $85.92 + $1.50.





Sports

SPORTS

FOOTBALL

City council in Regina has approved the basics of a $1-billion inner city redevelopment plan that includes a new home for the Canadian Football League's Saskatchewan Roughriders.

The 15-year plan covers more than 21 hectares near Regina's downtown.

Under terms of the three-phase project approved Monday, the Roughriders could have a new stadium as early as 2016 on land currently used as a Canadian Pacific Railway marshalling yard.





Weather

WEATHER

British Columbia on Wednesday: rain north, mix sun cloud south, high C23 Vancouver. Yukon, Nunavut: rain. Northwest Territories: mix sun cloud. Whitehorse 16, Yellowknife 19, Iqaluit 9. Alberta: rain north, sun south, Saskatchewan, Manitoba: sun. Edmonton 26, Regina, Winnipeg 25. Ontario: rain. Quebec: mix sun cloud. Toronto 28, Ottawa 26, Montreal 27. Atlantic Canada: mix sun cloud. Fredericton 27, Halifax, Charlottetown 24, St. John's 21.





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