Update 2-canada May Be Set For Growth Spurt After July Retail Bounce

Somali jihadists recruit in U.S., Canada, Europe

Must enter an email address. You must enter the verification code below to send. Invalid entry: Please type the verification code again. September 24, 2013, 1:14 p.m. ET BOC’s Schembri: Canada Making Progress in Financial Reform Text By Don Curren TORONTO–Canada has made progress in addressing the “too-big-to-fail” issue and reforming other aspects of its financial system regulation in accordance with the global-reform agenda of the Financial Stability Board, Bank of Canada Deputy Governor Lawrence Schembri said in a speech Tuesday. “Countries such as Canada, with open financial markets and internationally active financial institutions, especially benefit from the work of the FSB,” Mr. Schembri said in a speech in Ottawa on the topic “Born of Necessity and Built to Succeed: Why Canada and the World Need the Financial Stability Board.” It was Mr. Schembri’s first speech since joining the Bank of Canada’s Governing Council in February. The speech did not address Canada’s economic or monetary policy outlook. Mr. Schembri noted that the Office of the Superintendent of Financial Institutions recently designated Canada’s six largest banks as domestic systemically important banks and required that they hold 1% more capital and be more closely supervised than other financial institutions. Canada has also taken steps to implement commitments made by member countries of the G-20 group of advanced and emerging economies for the regulation of over-the-counter derivatives, Mr. Schembri said. “Market-based finance is generally viewed as less vulnerable in Canada than in other jurisdictions, and the Bank of Canada and our partner agencies want to keep it that way,” he said. Canadian officials have “participated fully” in the FSB’s shadow banking monitoring exercise and will work together to consider how best to implement recent FSB recommendations, he said.

The launch took place at a special event during the United Nations General Assembly. “The global Knowledge Gateway will help women better prepare to participate in the economy as workers, entrepreneurs, and leaders so that they can take charge of their own economic futures,” said Minister Yelich. “This initiative demonstrates how innovation can enhance women’s economic empowerment.” “It will give a push to women’s economic empowerment because this is essential to poverty eradication. I am so proud of our new online partnership platform to advance the economic empowerment of women. I encourage everyone to join us at www.empowerwomen.org,” said Phumzile Mlambo-Ngcuka, Executive Director of UN Women. For more information on Canada’s contribution to the Knowledge Gateway, please visit the website of the Department of Foreign Affairs, Trade and Development. Backgrounder On September 23, 2013, Minister of State Lynne Yelich announced Canada’s support for efforts to enhance women’s equal participation in the economy. The United Nations Entity for Gender Equality and the Empowerment of Women (UN Women) – The global Knowledge Gateway for Women’s Economic Empowerment: $5 million Canada, along with UN Women, hosted a conference on Women’s Economic Empowerment in 2011. It was during this conference that Canada made a commitment to collaborate with UN Women on the establishment of a global platform for women’s economic empowerment. As part of that commitment, Canada is providing $5 million. The global Knowledge Gateway allows women entrepreneurs, policy makers and other users to: — connect with women who are entrepreneurs and policy makers across the developing and developed worlds; — share information, exchange lessons learned, and good practices; — drive innovation; — form partnerships and strengthen laws, policies, strategies, and programs; and — access a virtual library of the latest publications and resources on women’s economic empowerment.

Canada’s Premier Atmospheric Science Journal Looks at the Columbia River

In volume terms, retail sales rose 0.5 percent in the month. The July rebound matched the median forecast in a Reuters poll. Analysts had foreseen a bounce-back after sales slumped by 0.6 percent in June, hit partly by severe floods in Alberta and a two-week strike by construction workers in Quebec. Canada’s economy looks set to speed up after annualized growth slowed to 1.7 percent in the second quarter from 2.2 percent in the first, and gross domestic product in the month of June actually shrank 0.5 percent. RBC Economics economist Nathan Janzen sees July GDP growth at a solid 0.7 percent. “In turn, the strength in July GDP would be consistent with our expectation that GDP growth in the third quarter rebounded to a 3.4 (annualized) percent rate,” he wrote in a note to clients. Mazen Issa, an economist at TD Securities, sees third quarter growth of just below 2 percent. Both estimates are below the Bank of Canada’s latest projection of 3.8 percent expansion in the third quarter. But the second quarter turned out to be stronger than the central bank’s 1.0 percent estimate, so overall the performance over the two quarters may not substantially change its outlook. “The Bank of Canada will look through the volatility in the data, and over the latter half of the year we see the economy straddling its trend rate of growth owing to a slightly softer consumer spending profile (around 2 percent) and a slow rotation to exports and investment,” Issa said. The Bank of Canada is expected to hold its key interest rate steady until late 2014. [CA/POLL} Gains were reported in eight of the 11 retail subsectors tracked by Statistics Canada in July, representing 52 percent of total retail activity. Gasoline stations had the biggest jump in sales, up 3.2 percent due to higher prices and volumes.

Canada Helps Launch Website for Women’s Economic Empowerment

A transboundary Canada-US basin, the Columbia supports tremendous hydropower generation, fisheries, and irrigation, and can be susceptible to flooding. It even has its own international law – the Columbia River Treaty – which is currently under review. Improved water resource and environmental management requires improved science, and could also benefit from enhanced cross-border cooperation on research. Twenty-nine scientists from ten institutions in both Canada and the US contributed cutting-edge work to this special issue. Some key outcomes include: Canadian headwaters are projected to experience, on average, lower summer flows, higher flows the rest of the year, and higher average annual flows than seen historically; A variety of semi-regular climatic oscillations, such as El Nino-Southern Oscillation, help explain year- to-year variation in river flows and may be used to improve seasonal water supply forecasts; Studies of the US portion of the basin reveal that local-scale water and environmental management behaviours deeply impact long-term water resource changes and vulnerabilities; Extreme warm days and extreme wet days are projected to increase under anticipated climate changes, whereas extreme cold days are expected to decrease; A newly established glacier monitoring program in the upper Columbia helps reveal the significant contributions of glacial melt to river flows, and the water supply implications of receding glaciers. “The value of improved scientific knowledge isn’t just some vague ideal,” said Dr. Sean Fleming, the Atmosphere-Ocean associate editor who convened the special issue. “For example, prior work suggests hydroelectric utilities in the Columbia Basin can save hundreds of millions of dollars a year by using improved climate-based water supply forecasts.” The Columbia starts on the glacierized western slopes of the Rocky Mountains in British Columbia. It flows generally south and west, accumulating runoff from seven US states before emptying into the Pacific Ocean at the Washington-Oregon border. It carries the most water of any basin on the west coast of the Americas. Established in 1963, Atmosphere-Ocean is the peer-reviewed scientific research journal of the Canadian Meteorological and Oceanographic Society (CMOS) and is published by Taylor and Francis. Summaries of the articles with corresponding contact information are provided in the accompanying document. The full-text articles are freely available upon request. This press release is under embargo until 24 Sep 2013.

The military asked local media not to televise anything live because the gunmen are watching the screens in the mall. Paramedics treat an injured man outside the mall. Medical personnel carry a body away. A body lies outside the mall. Gunmen shot people outside the mall as they entered it A woman is pulled by a shopping cart to an ambulance. A wounded man is escorted outside the mall. A police officer carries a baby as people keep low and run to safety. Crowds dashed down the streets as soldiers in military fatigues, guns cocked, crawled under cars to get closer to the mall. People run away from the scene. Armed Kenyan forces take position to secure the area around the shopping mall as ambulances move in to carry the injured. A woman reacts after she is rescued from the mall. A couple flee the area. As night fell, authorities said they had cornered the gunmen in the mall.

Air Canada Signs Maintenance Agreement with Premier Aviation; Trois-Rivières Facility Employs 120 Technicians

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