Business Opportunities in Canada

From Consulate-General of India, Toronto, Canada

Number 11/2012 INDEX Contents Canadian Economy India Canada Corporate News Forthcoming Events In Canada Business Offers For Indian Companies Page 2 7 16 22 23 December 1, 2012

Please send your enquiries/comments to comsec@cgitoronto.ca

The data used in this bulletin has been obtained from various published sources. The Consulate General of India in Toronto does not accept any responsibility for its accuracy.

CANADIAN ECONOMY
Canada makes ties with new Pacific Alliance trading bloc Canada has become an official observer in the Pacific Alliance trading bloc, a signal it wants to get involved quickly with a new group that intends to forge trade links between Latin America and Asia. The Alliance, just formed officially in June, groups together four countries: Mexico, Colombia, Peru, and Chile. Diane Ablonczy, the Junior Foreign Affairs Minister for the Americas, announced recently, that Canada had been granted observer status. She noted Canada already has separate free-trade agreements with the four Pacific Alliance members. The Alliance aims to reach new trade deals with partners in Asia like the 10-nation ASEAN bloc, creating a cross-Pacific trade arrangement. The Pacific Alliance is just beginning, but its ambitions are high. The four nations have linked stock exchanges, are moving toward the free movement of goods and services, and plan to drop visa requirements within the bloc. Panama, an observer since the beginning, is planning to join. Source: Globe and Mail Canadas trade deficit shrinks Canadas trade performance beat expectations in September with a smaller than expected deficit of $826-million, but economists note the sector remains a major drag on growth. The trade report from Statistics Canada found the deficit shrinking by almost half from a downwardly revised $1.5-billion in August, aided by a 1.9 per cent increase in exports. Analysts said the performance was encouraging given the weakness in export markets, particularly the U.S. and Europe. Economists had expected another $1.5-billion deficit. But they noted that owing to soft August and July numbers, the third-quarter tally will still weigh heavily on the economy. Exports were down about eight per cent over the three months of the third quarter, which ended in September. Overall for September, merchandise exports rose to 1.9 per cent to $38-billion, led by energy products. The big winners included the aircraft industry, up 17.9 per cent), agriculture (14.4), metal ores (17.4) and machinery (2.6). Source: Canadian Press Foreign purchases of debt securities grew in September Statistics Canada says foreign investment in Canadian securities grew to $13.9-billion in September as investors bought government bonds and corporate equities. Meanwhile, Canadian investment in foreign securities reached a six-month high of $6-billion, led by purchases of U.S. equities. The agency says foreign investors bought $10.6-billion worth of Canadian debt securities in September, the largest such investment since May. Foreign investors have acquired $55.8-billion of Canadian debt securities so far in 2012, on par with the level of investment observed for the same period in 2011.The investment focus, however, shifted to federal bonds in 2012 from federal Treasury bills in 2011. Canadian investors purchased $4.5-billion of foreign equities in September, the largest such investment since March. Purchases of U.S. shares strengthened for a third month, to $3.6billion, led by demand from Canadian pension funds. Source: Canadian Press

Manufacturing sales rise 0.4% in September Factory sales rose 0.4 per cent to $49.8-billion in September, slightly better than expected, according to Statistics Canada. Production in the aerospace industry jumped 43 per cent to $1.8-billion, the biggest increase since last May when production rose 66.8 per cent. Excluding the aerospace sector, total manufacturing sales fell by 0.7 per cent, Statscan said. Factory sales rose in 8 of 21 categories, representing just under half of Canadian manufacturing. In the key automotive sector, sales declined 3.6 per cent to $4.6-billion. However, Statscan points out that manufacturing sales of motor vehicles and parts have been gradually rising since the late 2008 economic downturn, though the gains have been modest compared with other manufacturing industries. The share of sales by motor vehicle manufacturers relative to total manufacturing in the first 9 months of 2012 was 9.1 per cent. Source: Globe and Mail Canadas inflation rate holds steady Canadian inflation was slightly stronger than expected in October as prices rose for almost all consumer items, but the rate remained well below the central banks 2-per-cent target, suggesting interest rate hikes are still a long way off. Gasoline and electricity prices grew at a slower year-on-year pace than in September while prices for food, air travel and property taxes rose more sharply, Statistics Canada said in a report. Annual inflation held steady at 1.2 per cent, unchanged from September but above the 1.1-percent forecast by market players. The consumer price index rose 0.2 per cent in October from September. Core inflation, which leaves out gasoline and other volatile items, was unchanged from September at 1.3 per cent year-on-year. Market players had forecast 1.2 percent core inflation. Canadas primary securities dealers expect the bank to begin tightening monetary policy in the fourth quarter of next year, according to a Reuters poll last month. Prices rose in all major components except clothing and footwear, Statscan said. Source: Globe and Mail Ottawa bumps up TFSA limit by $500 The federal government has given Canadians 500 more reasons to invest in a tax-free savings account- namely a $500 increase in the annual contribution limit. Canadians will be able to add the $500 starting in 2013, raising the annual maximum to $5,500. Our government remains committed to our low-tax plan for jobs and growth and we are very pleased to offer Canadians ways to save on taxes and keep more of their hard-earned money, said Ted Menzies, Minister of State (finance), in a statement. Based on four years of contributions, Canadians can now have made $20,000 in contributions to their TFSA. Ottawa says 8.2 million Canadians have opened an account and roughly 2.5 million Canadians contributed the maximum amount in 2011. TFSA are available to all Canadians, 18 years and older. Money can invested in variety of products like securities and mutual funds. Unused TFSA contribution room can be carried forward and accumulate for future years. Source: National Post

Home prices 3.6% higher in September from a year ago Canadian home prices in September were 0.4 per cent lower than in August, though they remained 3.6 per cent higher than a year ago, according to the Teranet-National Bank National Composite House Price Index. This marks just the third time that house prices have fallen in September in the 13 years that this index has data for. The other two were in 2010, and prior to that in 2008. Six of the 11 markets that the index studies saw prices fall last month. The decline was highest in Victoria, where prices fell 1.3 per cent. Vancouver saw its prices drop by 1.2 per cent for the second month in a row. Prices were down 0.8 per cent in Ottawa-Gatineau, 0.6 per cent in Montreal and 0.2 per cent in Quebec City. All of those cities had registered sharp decreases in sales over the past year, according to the real estate boards. But Edmonton, which has seen an increase in sales, also saw prices drop, falling 0.7 per cent. The cities that saw prices rise last month were Calgary and Halifax (each by 0.5 per cent), Winnipeg (0.4 per cent), Hamilton (0.3 per cent) and Toronto (0.1 per cent). Source: Globe and Mail New home construction slumps 8.9% Across all types of housing and all provinces, the pace of construction for new homes is slowing across the country, according to data released by the Canada Mortgage and Housing Corporation. The Corporation said that construction started on 17,507 homes in October. That's more than seven per cent lower than where the figure was a year ago and in keeping with a general slowdown through the year. Seasonally adjusted, that translates into a rate of 204,107 starts per year, down from an annual rate of 223,995 recorded in September. That's a decline of 8.9 per cent. "The monthly decrease in total housing starts posted in October was mostly due to a decrease in both single and multiple starts in urban centres in Quebec and the Prairies," CMHC economist Mathieu Laberge said. The slowdown is especially pronounced in multiple-start buildings such as condominiums.
Source: CBC News

Auto sector on track for best year in a decade: Report For Canadas motor vehicle manufacturers, 2012 is stacking up as the most profitable year in a decade, according to the Conference Board of Canada. The auto sector will take in about $1.35-billion in pre-tax profits this year, a bottom-line result not seen since 2002, the think tank says. The industry will continue to benefit from brisk growth in vehicle sales, both this year and next, Micheal Burt, the Conference Boards Director of Industrial Economic Trends, said. Canadian vehicle sales are set to surpass pre-recession levels this year, he added. The Conference Boards figures indicate that Canadian automotive production rose almost 20 per cent in the first 8 month of this year, compared to the same period last year. Sales across Canada rose 7.1 per cent between January and August and are on track to reach 1.72 million vehicles, the highest levels since 2002, says the board. Source: Globe and Mail Retail sales edge higher on auto gains Statistics Canada reported retail sales edged up 0.1 per cent to $39.1-billion in September, the third straight monthly increase, helped by sales of new cars. The largest 4

increase in dollar terms among all subsectors was a 0.6 per cent rise at motor vehicle and parts dealers, with new car sales up 0.9 per cent. However, BMO Capital Markets economist Robert Kavcic noted that excluding auto sales, the results were flat and below consensus. Economists had expected growth of 0.5 per cent for the month. Sales rose 2.5 per cent at miscellaneous retailers, a category which includes used merchandise stores, office supply and stationery stores, and pet supply stores. General merchandise store sales decreased 0.7 per cent, with department store sales off 0.9 per cent. Sales rose in five provinces in September led by Alberta, with sales off 0.7 per cent in Quebec and flat in Ontario. Source: Globe and Mail Used car prices set to rise, report says Used car prices continue to move higher across Canada despite stronger-than-expected sales of new vehicles in 2012, a report by Scotiabank says. The improvement reflects a 4 per cent increase in purchases of pre-owned models so far this year, as well as the dwindling supply of these vehicles. Canadian used-car prices have been rising since 2009 just before the start of the global economic recovery. In contrast, new vehicle prices in Canada have been flat since 2010 as automakers have enhanced incentives over the past two years to spur sales. The net result is Canadian used car prices are at record highs relative to the price of new models, the report said. The supply shortfall is the direct result of a plunge in fleet and leasing volumes since 2008. New vehicle leases in Canada slumped to only 180,000 units in 2009 and while they have edged higher in recent years, lease volumes still remain 40 per cent below the average of the previous decade.
Source: Toronto Star

Ontario, B.C., Alberta revive talks on national securities regulator Three of Canadas largest provinces are leading a revived effort to create a single agency to oversee the countrys securities markets, an initiative that comes nearly one year after the Supreme Courts rejection of a national regulator. Ontario has long been the closest provincial ally of the federal government in its fight to reform the countrys patchwork system of securities regulation. But British Columbia and Alberta are also expressing a new openness to replacing Canadas 13 provincial and territorial regulators with a single entity that would police the buying and selling of securities. Ontario Finance Minister Dwight Duncan said he has had productive discussions with his counterparts in the two western Canadian provinces. The talks appear to signal a dramatic shift in stance for officials in Alberta, who had been among the staunchest opponents to a national agency. Officials in British Columbia also expressed serious concerns about relinquishing their provinces jurisdiction over securities regulation. Source: Globe and Mail Ontario wont allow fracking unless its safe, McGuinty says The Ontario government is warning energy companies it is not ready to allow the controversial practice called fracking to extract natural gas or oil. Premier Dalton McGuinty says no private companies have approached the province to talk about fracking or hydraulic fracturing, which uses chemically-treated water under extreme pressure in drill holes to fracture shale and release gas or oil. McGuinty says hes heard concerns the practice can pollute water supplies, and would want to see scientific evidence fracking is 5

safe before giving it a thumbs up or a thumbs down. NDP Leader Andrea Horwath says shes concerned about negative environmental impacts from fracking, especially on drinking water. Opponents of fracking, including the Council of Canadians, say companies including Mooncor Oil and Gas and Dundee Energy are buying up land in southern Ontario that could be used for fracking. Mooncor says only that it has not announced any plans to frack in Ontario. Source: Canadian Press Conference Board sees trade boom with China The Conference Board of Canada released a study that examines the export opportunities for Canadian companies to the hot economies of China, India, Brazil and Mexico. As expected, the outlook-to 2025- indicates a significant shift away from trade with the United States. China is of course a key destination. Canadas goods exports to China have taken off, from a value of less than $3-billion in 1990 to $15-billion in 2011, according to the Conference Board. That number is projected to increase to the $45-billion range by 2025, says the board, based on the assumption of an average annual economic growth rate in China of just under 7 per cent. If that trend does indeed unfold as predicted, Chinas share of Canadian goods exports would more than double to 6.8 per cent from todays 3 per cent. In contrast are shipments to the U.S., which now account for about 75 per cent of Canadas goods exports. The study predicts that the share will drop to 68 per cent in 2025. Canadas goods exports to the U.S. are projected to grow by about 2 per cent per year through to 2025. The bulk of Canadas exports to China are natural resources or semi-processed raw materials, while imports are made up mostly of manufactured goods. Source: Globe and Mail Toronto, Vancouver, Waterloo rank among top 20 startup hubs globally: Report Three Canadian cities rank among the top 20 startup ecoystems in the world according to a new report that forecasts a shift in the concentration of entrepreneurial dominance. While nearly all high-growth technology startups have historically emerged from no more than three to four startup ecosystems namely Silicon Valley and Boston-this trend appears to have reached its end, said the Startup Genome report produced in partnership with Telefonica Digital. Toronto and Vancouver placed eighth and ninth, respectively, while Waterloo claimed the 16th spot on the index, which measured factors like total entrepreneurship activity, available risk capital, the prevalence of support such as mentorship and service providers, access to talent and even mindset. The top of the list was led by Silicon Valley and followed by Tel Aviv, Los Angeles, Seattle, New York City, Boston and London. Source: Globe and Mail Canadian Dollar at parity in comparison to US Dollar The Canadian dollar traded at parity in November in comparison to the US Dollar. It closed at 1.00 USD on November 30th. Source: Bank of Canada

INDIA - CANADA
Canada, India reach agreement on nuclear trade Canadian uranium and nuclear hardware may soon be shipping to India for the first time in nearly four decades after a deal reached during Stephen Harper s visit to New Delhi. Canada and India announced theyve cleared a diplomatic logjam that prevented Canadians from selling nuclear material and technology to the energy-hungry south Asian country. It remains to be seen, however, exactly when nuclear trade between Canada and India might resume. Stephen Harper and his Indian counterpart Manmohan Singh announced that their countries had concluded difficult negotiations on resuming nuclear trade: talks designed to address Canadian concerns about verifying that any nuclear material supplied is only used for peaceful purposes. A new accord announced between Mr. Harper and Mr. Singh on November 6-whats being called an administrative arrangement-appears to remove the last obstacle to proceeding with the 2010 nuclear trade deal. Source: Globe and Mail Canada, India sign Social Security Agreement to better coordinate Pension Benefits Prime Minister Stephen Harper and Manmohan Singh, Prime Minister of India, witnessed the signing of the Canada-India Social Security Agreement. This will enable Canada and India to better coordinate the pension benefits and contributions for their citizens who have worked in both countries. Mr. Harper made the announcement during his six-day state visit to India, from November 3-9, 2012. Our Government is committed to helping facilitate the flow of people and ideas between Canada and India, said Prime Minister Harper. The agreement signed on November 10th will reduce the pension contribution costs for Canadian companies sending employees to India and ensure that those same Canadian employees receive the pension benefits they are entitled to for time spent working abroad. The Canada-India Social Security Agreement will help eligible individuals qualify for retirement, disability or survivor benefits and enable employees from Canada who are sent to work temporarily in India to continue to contribute to the Canada Pension Plan and be exempt from contributing to the Employees Pension Scheme of India. Source: The Link Paper Anand Sharma invites Canadian pension funds to invest in Indian infrastructure projects Union Commerce and Industry Minister Anand Sharma said substantial pension funds in Canada-private and public-could be usefully channeled through the Infrastructure Debt Fund into infrastructure projects in India. At a bilateral meeting with Canadian Minister of International Trade and Minister for Asia-Pacific Gateway Edward Fast, Mr. Sharma also highlighted the need to address the investment asymmetry between the two countries. India and Canada have finalised a tripartite agreement for an infrastructure debt funding mechanism linking both lenders and borrowers through the IDF. The IDF would source most of its funding from pension funds, insurance funds and sovereign wealth funds. Indian investment in Canada is estimated at $ 14.2 billion and Canadian investment in India at nearly $ 4.3 billion. Owing to Canadas healthy banking sector and

private equity funds, Mr. Sharma also called for greater Canadian investment into India. Source: NetIndian News Network India, Canada CEPA talks could conclude by 2013 The negotiations for the proposed comprehensive free trade agreement between India and Canada are expected to conclude by 2013. The progress of negotiations for the pact, officially known as Comprehensive Economic Partnership Agreement (CEPA), was reviewed by Commerce and Industry Minister Anand Sharma during his meeting with Canadian Minister of International Trade and Minister for Asia - Pacific Gateway Edward Fast. "The negotiations on CEPA are proceeding smoothly, and we hope that it would be finalised by 2013," an official statement quoting Minister Sharma said. Both the sides launched CEPA negotiations in November 2010 to further boost bilateral trade and investment. The pact aimed at slashing or eliminating duties on maximum number of products traded between the two countries, besides opening the services sector and facilitating investment proposals. As per a joint study group report, both countries will benefit from the CEPA. According to the report, India and Canada's GDP are likely to get benefits in the range of USD 6 billion and USD 15 billion per year, respectively from the trade pact. Source: Economic Times Canada expands diplomatic representation in India Stephen Harper is stepping up Canadas diplomatic representation in Indias Silicon Valley, opening a consulate in the fast-growing southern city of Bangalore. The prime minister made the announcement on November 8 during a visit to India to spur slowgoing talks to liberalize two-way commerce and investment. The new consulate in Bangalore will be Canadas fourth in the south Asian country. Besides its high commission in New Delhi, Canada has trade offices in three cities-Hyderabad, Ahmadabad and Calcutta. Mr. Harper said the Bangalore office will function as a hub for Canadian representation in southern India, offering consular, immigration and assistance for Canadian business. The new consulate, previously only a trade office, is expected to open in the summer of 2013. Source: Globe and Mail STEP Announces Agro Tech Trade Mission to Chandigarh, India The Saskatchewan Trade and Export Partnership (STEP) is organizing a trade mission to exhibit at Agro Tech, a biennial agro technology and business fair in Chandigarh, India from December 1-4, 2012. STEP will work with the Canadian Consulate in Chandigarh to showcase STEP members and export capabilities. STEP focuses on increasing Saskatchewans exports to existing markets and tapping into new markets by initiating sales, contracts, and projects for Saskatchewan exporters. For more information, contact Jennifer Evancio at jevancio@sasktrade.sk.ca. Source: Saskatchewan Trade & Export Partnership Canada-India Water Training Consortium part of international project highlighted by Prime Minister The Canada-India Water Training Consortium is participating in a massive international project to clean up the Ganges River, highlighted by Prime Minister Stephen Harper 8

during his state visit to India. Fleming College, the Ontario Clean Water Agency, Centennial College, Confederation College, and Northern College, have launched the Canada-India Water Training Consortium which will offer training as part of the Ganga River Environment Management Programme (GREMP). The Consortium is part of a broader collaborative effort that includes Canadian Technology and Business Facilitators Inc. (CTBF) and ETI Dynamics to contribute water technologies and training to the GREMP. The river clean-up is an immense undertaking - the project is billed as a $100 billion opportunity. The official signing of the CTBF's entry into the Ganges River clean-up project took place this week in New Delhi. The signing ceremony was organized through Prime Minister Harper's official trip to India. Source: Fleming College Canadas opportunity to tap into giant India economy has never been better As happened about a decade ago with China, Canada has been slow to realize the benefits of capturing a share of Indias $2 trillion a year economy. Everything about India is big. One of many dazzling statistics is that India has over 900 million cell phone subscribers-a number many times higher than Canadas total population. Despite the opportunities presented by a society where tens of millions have recently joined the middle classes, those Canadian companies already in India believe that many Canadian companies still tend to be risk averse and overly content to regard foreign trade as doing deals in the U.S. For all that, the successes of some major Canadian companies show what is possible if more Canadian businessmen make Asia an object of desire. Bombardier, which in various forms has been in India for four decades, is a blue chip example. To fend off keen competition from Asian and European rivals, the Montreal-based multi-national company has built two railway manufacturing sites in India. Another positive sign is that after entirely missing out on the beginning of Chinas rise in the early 1990s, several dozen Canadian automotive suppliers including the biggest-Aurora, Ontario based Magna International now have established Indian operations. Source: Post Media News Canada looks to India to ease skills shortage Canada is turning to higher education partnerships as a form of soft diplomacy and as part of a global economic strategy that includes attracting Indian students to fill a growing skills shortage. Canada is looking to take advantage of Indias demographic profile, Marcia Lang, Senior Advisor to the President of the University of Alberta said. Indian students are bright and very good and we want to encourage more students to not only study in Canada but to fill our skills shortage by working there. Lang noted that Canada has the second largest oil sands after Saudi Arabia, but we dont have enough people to work. We have partnered with IIT [Indian Institute of Technology] Bombay, IIT Roorkee and oil companies such as Indian Oil to not only train Indian middle-level managers but also to attract students, Lang said. Canadas interest in higher education partnerships in India, and in drawing Indian students to Canada, was highlighted by Minister of International Trade Ed Fast at the higher education conference organised by the Federation of Indian Chambers of Commerce and Industry, FICCI. India is a natural partner for Canada. Relationships from educational ties can produce successful business partnerships, Minister Fast said, pushing for a stronger Canadian role in Indias expanding higher education landscape. Source: University World News

Indias Petronet planning to buy Canadian LNG Petronet LNG Ltd. Indias biggest liquefied natural gas importer, plans to buy the fuel from Canada to meet surging demand as output from a block operated by billionaire Mukesh Ambanis company falls. Petronet has met Canadas Natural Resources Minister Joe Oliver and wants to buy the fuel from projects on the North American nations east coast, Chief Executive Officer A.K. Balyan said. Petronet is seeking contracts from Australia to Russia to meet Indias energy demand that is estimated to more than double by 2035. The expansion has acquired urgency after gas production at Ambani-controlled Reliance Industries Ltd. (RIL)s biggest field dropped 70 percent in about two years slashing supplies to power stations and fertilizer plants in the worlds fourth-biggest fuel consumer. Indias energy demand is forecast to more than double by 2035 to 49.2 quadrillion British thermal units from 21.1 quadrillion Btu in 2008, according to the U.S. Energy Information Administration. The share of gas in Indias power generation mix will expand from 11 percent in 2008 to 16 percent in 2035, according to the EIA.
Source: Bloomberg News

Top Canadian, Indian institutions form $30 million partnership to improve water and infrastructure safety, eradicate diseases Scientists from the University of British Columbia, University of Alberta, University of Toronto and 11 leading institutions in India are joining forces to tackle urgent issues in both countries with a $30-million partnership. Supported by the Canadian government and state and industry partners in India, the India-Canada Centre for Innovative Multidisciplinary Partnerships to Accelerate Community Transformation and Sustainability, or IC-IMPACTS, will focus on water safety, disease prevention and treatment, and the development of safe and sustainable civil infrastructure. It will also support new technology spinoffs and the training of more than 700 students and researchers. Through the development, deployment and commercialization of new technologies, and the training and exchange of students and researchers, IC-IMPACTS is expected to generate economic benefits for both nations while building research capacity and solving issues of importance to both countries. The partnership was formally launched in New Delhi by Prime Minister Stephen Harper, who was joined by UBC President Stephen Toope, U of T President David Naylor and U of A Vice-President (Research) Lorne Babiuk. Source: University of British Columbia Press Release Tata Chemicals in $310 million Canada venture Tata Chemicals is setting up of a potassium-based complex fertiliser plant in Canada by 2017 in association with EPM Mining Ventures. R Mukundan, Managing Director of Tata Chemicals said the partners have done the preliminary economic assessment for a sulphate of potash plant in the country, which favoured a setting up a 300,000 tonne per annum (tpa) plant. EPM, a specialty or complex fertiliser maker, in which Tata Chemicals bought a 25% stake in August 2011, controls mineral leases on more than 124,000 acre on the Sevier Dry Lake property in Millard County, Utah, Canada, through its wholly owned subsidiary Peak Minerals Inc. According to EPM website, the sulphate of potash plant will be built in a phased manner and reach its full rated capacity of 300,000 tpa by 2020. Source: Daily News and Analysis 10

Canada's IT companies keen to partner Gujarat Canada's IT companies have expressed interest in collaborating with Gujarat's companies working in the IT space. Canada, which is a partner company in Vibrant Gujarat, was in Gujurat with a delegation to propose collaborations between IT companies, recently. Canada's Technology Triangle (CTT), a not-for-profit organisation, which works to attract new business, investment and talent to the Waterloo region in Canada, highlighted the concept of the Intelligent Community Forum and how Ahmedabad could be included as an intelligent broadband economy in this community. The Intelligent Community Forum seeks to share the best practices of the world's intelligent communities in adapting to the demands of the broadband economy, in order to help communities everywhere find sustainable renewal and growth. Nishish Jha, coordinator of the event that brought together Gujarat and Canadian companies in Ahmedabad, said, "There is an appetite among Canadian companies to set up joint ventures with Gujarat's IT companies. The region of Waterloo, Ontario has a huge tech entrepreneurial system. The objective of this meeting was to promote business in the technology sector, which is always in high demand." Source: Times of India Electrovaya signs two MOUs with Partners in India Electrovaya Inc. of Mississauga, Ontario announced that it has signed two Memorandums of Understanding (MOUs) with partners in India. One MOU with Environ Energy (Bhaskar Solar) will harness Electrovayas lithium ion battery technology for renewablesbased telecom towers. The other MOU with Hero Eco would implement lithium ion powered electric bikes for Heros markets in Asia, Europe and North America. Electrovaya designs, develops and manufactures proprietary lithium ion superpolymer batteries, battery systems, and battery-related products for the clean electric transportation, utility scale energy storage and smart grid power, consumer and healthcare markets. Source: Electrovaya Press Release Open Text increases R & D Capacity and Opens new office in India Open Text Corporation, a Waterloo, Ontario based provider of enterprise information management solutions, announced the expansion of its research and development center in Hyderabad, India, and the opening this month of an office in Mumbai, India to support its customer base in that country. Open Texts enterprise information management software enables companies and industries to manage, secure and leverage their unstructured business information. Source: Open Text Corporation Press Release Teck looks to India for future growth Canada's largest diversified miner, Teck Resources Ltd., is planning a road trip to India. Eager to understand the Asian nation's growth potential more quickly and more completely, Teck wants to judge for itself whether forecasts for massive growth in India are realistic. "What Don has done is put together a case study group of 15 of us, and we're going to travel to India for a few days later this month," Teck spokeswoman Marcia Smith said of a trip being planned by Chief Executive Officer Don Lindsay. Teck is a global exporter of coal, zinc and copper. Sales to India are a very small portion of its total 11

revenue, but Teck would expect the figures to rise if India begins to meet needs for massive infrastructure spending. Teck is one of the world's top exporters of coking coal used for steel production and is a major exporter of commodities to Asia, but only a fraction of that goes to India. Source: Globe Advisor.com Tulip Telecom, TaraSpan launch Cloud-Based Managed Unified Communication Services with Mitel Networks to over 2000 cities in India Tulip Telecom Ltd (Tulip), a leading enterprise data services provider in India, and TaraSpan, who provides India market entry strategies for Canadian technology companies, announced the launch of cloud-based managed unified communication services to over 2000 cities in India, which includes cloud and premise-based unified communications and collaboration solutions from Mitel Networks Corporation (Mitel). With this collaboration, Tulip's customers can select from a wide range of service with freedom to modify subscriptions options on a monthly basis. For businesses, this means the potential for productivity, quality and reliability gains and reduced operational expense for managing their technology-all at a predictable monthly cost. Source: EFY Times Extreme Startups announces partnership with India Extreme Startups, a Toronto accelerator for high-potential entrepreneurs announced the launch of an 'exchange' with The Hatch, a business incubator located in India.We think this is the best way to get Canadian tech startups into the massive Indian consumer and enterprise markets, said Sunil Sharma, Managing Director of Extreme Startups. Its a very high-touch model and we are happy to reciprocate for the Indian startups and entrepreneurs.Beginning in December, Extreme Startups will send a group of Canadian startups from its current cohort- including Shifthub, Venio and Picatic to Chandigarh, India. These teams will be provided not only with accommodation in dorm-style residences, but also have front-of-the-line access to The Hatchs network of entrepreneurs, developers and investors. In turn, Extreme Startups will host several Indian startups in Toronto in January, furnishing them with desk space as well as connections to its renowned pool of mentors and resources. Source: Globe and Mail Diagnos and Indian State of Madhya Pradesh agree MOU Quebec -based Diagnos Inc. has signed a Memorandum of Understanding (MOU) with the Indian State of Madhya Pradesh for the provision of diabetic retinopathy screening services. Under the terms of the MOU, the State Health Authorities will help assure required infrastructure facilities, incentives, concessions, and all necessary clearances are in place for the launch of a state-wide diabetic retinopathy screening program. The financial terms of the agreement were not disclosed. Diagnos is an imaging and data technology company active in a variety of fields including healthcare and natural resources. Source: Marketwire

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Report finds emerging trade nations to fuel future trade growth-how can Canada help? A new report says India will become the fastest growing trade market in the world due to the countrys emerging middle class and trade growth. According to HSBC Trade Forecast, India is also the fastest-growing source for Canadas importers at 82 per cent and is expected to be so until 2020. The report also finds that in the next three years, emerging trade nations will join the powerhouse economies of India and China. As these economies industrialize, the forecast says there is an increase in trade of higher value goods, reflecting the increased maturity of these faster-growing economies with large populations and rapidly growing middle-class consumer markets, says the report. While Canadian exports have slowed this year as a result of the softening demand in the United States and the broader moderation of growth in world trade, the effect of the recent global economic downturn has been more moderate than in other countries, the forecast finds. As a world leader in producing potash and as a major producer of aluminum, cobalt and uranium, Canada continues to be one of the worlds major trading nations. Source: Global News Minister Fast celebrates growing Canada-India Trade and Investment Relationship Following his recent participation in Prime Minister Stephen Harpers trade mission to India, the Honourable Ed Fast, Minister of International Trade and Minister for the AsiaPacific Gateway highlighted the growing Canada-India trade and investment relationship by marking the sixth round of negotiations toward a Canada-India comprehensive economic partnership agreement, which took place in Ottawa from November 15 to 17, 2012. He also announced the Canadian members of the Canada-India CEO Forum. Opening new markets to increase Canadian exports and create jobs and prosperity for hard-working Canadians is at the core of Canadas Economic Action Plan, said Minister Fast. A Canada-India joint study concluded that a trade agreement between the two countries could boost Canadas economy by at least $6 billion. That translates to almost 40,000 new jobs across the country, or a $500 boost to the average Canadian familys annual income. As stated by Prime Minister Harper on his recent trade mission, Canada has identified core economic opportunities in India in the energy, agriculture, infrastructure and education sectors. Source: Foreign Affairs and International Trade Canada B.C. opens two new trade and investment offices in India Following up on a commitment Premier Christy Clark made in November of 2011, the Province will open two new trade and investment offices in the cities of Mumbai and Chandigarh to further strengthen the burgeoning business opportunities with India, announced Finance Minister Michael de Jong, Q.C. These new provincial commercial agencies will be situated within the existing Canadian Consulate General offices in these two major cities. This co-location arrangement will provide the Province with an excellent professional environment from which to conduct business in a co-ordinated manner with Canadian government representatives in India. Pat Bell, Minister of Jobs, Tourism and Skills Training and Minister Responsible for Labour, noted that, These offices and the people that work in them are the window through which investments come to British Columbia, and with every investment comes jobs for British Columbians. Source: Government of British Columbia Press Release 13

Senator Asha Seth Drives Point Home: Indian Trade Delegation to visit Canada in 2013 A high power delegation will visit Canada in 2013 to promote Canada-India bilateral trade following meetings between conservative Senator Asha Seth, High Commissioner of Canada to India, Mr. Stewart Beck and Chief Ministers from Delhi and Uttar Pradesh. Capitalizing on the momentum created by Prime Minister Stephen Harpers visit to India, Senator Asha Seth urged Chief Minister Sheila Dikshit of Delhi and Akhilesh Yadav of Uttar Pradesh to move towards creating a friendly environment for Canadian investment. Canadians are eager to work with Indian states to establish Canada as a primary partner in Indias development. Our conservative team is working tirelessly to strengthen commercial and social ties with India, said Senator Asha Seth. Senator Seth along with Canadian and Indian officials will coordinate a delegations led by Chief Ministers Akhilesh Yadav between May and September, 2013. Source: Office of Honorable Asha Seth Canadian industrialist keen to invest in Assam Canadian industrialist Herb Dhaliwal called on the Assam Chief Minister, Tarun Gogoi on November 19 and expressed keen interest in investing for exploration of shale oil and shale gas in the state. Dhaliwal, the first Canadian Cabinet Minister of Indian origin, said his company East-West Petroleum Corporation is keen to invest in a big way in the exploration of shale oil and shale gas in which Assam has huge potential. He apprised the Chief Minister of the talks he has had with Oil India, ONGC and GAIL to adopt latest technology for exploration of oil and gas. Mr. Dhaliwal asked the Chief Minister to take up the matter with the Ministry of Petroleum and the Prime Minister to frame a policy for shale oil and shale gas. Source: Hindu Business Line Clean coal technologists from India, Canada to meet in Delhi on December 4 Clean coal technologists from Canada and India will gather in New Delhi on December 4 to consider strategies for reducing carbon emissions during power generation. In a first of its kind Initiative by the Academy of Engineering, from both Canada and India, the technologists would focus on sharing their latest findings in this space as also exploring potential partnership areas. The Canadian Association of Engineers delegation will be led by Prof. Ravi Ravindran of Ryerson University, Canada. Dr. B Prasada Rao, Chairman and Managing Director of the public sector Bharat Heavy Electricals Limited (BHEL) will kick off this day-long conference that will be hosted by Indian National Academy of Engineering (INAE) and Canadian Academy of Engineering (CAE), as part of INAEs silver jubilee celebrations. Former Foreign Secretary Shyam Saran, who later served as the Prime Minister's Special Envoy on Climate Change, will deliver the valedictory address. A panel of eminent Indian experts from coal R&D, industry and government as well as non-governmental agencies will interact with the members of both delegations to identify areas suitable for Indo-Canadian joint initiatives and the nature of such initiatives. Source: Net India News Network

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Canada team in India to recruit Indian doctors A team of specialists from Canadas province of Saskatchewan toured India to scout for doctors, particularly physicians, to look after the primary healthcare needs of a growing population. In the first leg, the team is looking to recruit about 80 physicians to work as family doctors in the province. The team led by Edward Mantler, Chief Executive Officer of Saskdocs, the agency that works in partnership with regional health authorities and communities to find physicians for Saskatchewan visited New Delhi, Chandigarh, Mumbai and Chennai. In this visit, we are looking to recruit about eighty qualified and experienced family physicians from India who may be interested in migrating to Canada, Mr. Mantler said. Currently, for a population of over one million, expanding rapidly because of robust economic growth, Saskatchewan is home to about 1,900 doctors from different parts of the world, the CEO said, adding that family physicians will be the first contact point for those in need of any advice on health-related matters.
Source: Hindu Business Line

Birlas take control of mutual fund venture with Sun Life The Aditya Birla group, led by Kumar Mangalam Birla, has taken charge of its mutual fund joint venture with Sun Life Financial of Canada by buying one per cent stake from the latter. The Birlas will now own 51 per cent stake in Birla Sun Life Asset Management Co Ltd and Sun Life will be left with 49 per cent. The equity structure of the Birla groups second joint venture with Sun Life Financial in the insurance sector will continue as usual at 74 per cent with the Indian promoter. The Canadian company will raise its stake as and when the government permits higher stakes for foreign companies in the insurance sector, sources familiar with the developments say. Sun Life had the option of increasing stake in the insurance company since the JV was set up 12 years ago. The Birlas and Sun Life had set up the mutual fund venture in 1994. Since then, it has grown into one of Indias leading mutual fund companies, with assets under management of Rs 72,900 crore as of September this year, growing at an annual rate of 8.5 per cent.
Source: Business Standard

University of Alberta key player in Canada-India collaboration The University of Alberta is taking a lead role in a Canada-India research collaboration to develop new technologies to ensure health, safety and sustainability for remote and rural communities in both countries. A partnership between the U of A and the universities of Toronto and British Columbia was chosen by the federal governments Networks of Centres of Excellence program to be part of Canadas commitment to a five-year, $30million collaboration with India. Three hundred Canadian students will work alongside students from 11 leading institutions in India at locations in Canada and India. The collaboration goes by the acronym IC-IMPACTS. The U of A will supply 100 students from a variety of disciplines such as engineering, public health and biological sciences. The U of A will lead the focus on clean drinking water. U of A team members, postdoctoral students to undergrads, will develop new technologies for water monitoring and treatment, and infrastructure that carries drinking water. Source: University of Alberta

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CORPORATE NEWS
CN ramps up crude-by-rail service CN said that it is working with Arc Terminals LP to build a new terminal in Mobile, Alabama to unload 40 tank cars a day carrying 25,000 barrels of Western Canadian heavy crude oil and light crude from the Bakken formation along the U.S.-Canadian border in the Prairies. This will then be delivered by pipeline and by ships to refineries along the Gulf coast. Canadian crude currently accounts for only a tiny fraction of oil reaching Gulf refineries, which have room to accept more and are hungry for Canadian shipments, according to the Canadian Association of Petroleum Producers. Crude oil by rail is one of CNs fastest-growing businesses, said CNs executive vice-president and chief marketing officer, Jean-Jacques Ruest. Throughout CNs whole rail network, we expect to move in excess of 30,000 carloads [of crude] in 2012, and we believe we have the scope to double this business next year, Mr. Ruest said. Source: Globe and Mail BP, Shell seal largest exploration deals in Nova Scotia BP said it successfully bid for four deepwater exploration blocks offshore Nova Scotia and committed to spend $1.05-billion in the hopes of discovering oil in the Atlantic. The Canada-Nova Scotia Offshore Petroleum Board said that BP was the successful bidder for four blocks, covering almost 14,000 square kilometres and located approximately 300 kilometres off the Nova Scotia coast.This award gives us access to a significant piece of geology, one of the most promising new deepwater areas to be licensed in recent years, said Mike Daly, BP Executive Vice President of Exploration in a statement. Exploration is a key driver of future growth for BP, and access to prospective new acreage such as this is essential. This entry to Nova Scotias offshore plays to our strengths in the deepwater and sub-salt. Shell Canada also secured exploration rights to four parcels for its $32-million bid. The board plans to issue exploration licences in January pending final Ministerial approval by federal and federal and provincial governments. Source: Financial Post Ontario Teachers triples stake in Nexen Ontario Teachers Pension Plan, Canadas third-largest retirement fund, tripled its holdings of Nexen Inc., the Calgary-based energy producer thats the target of a takeover by CNOOC Ltd. of China. Ontario Teachers increased its holdings to 6.82 mi llion Nexen shares from 1.72 million, raising its stake by about $143.7-million in the third quarter, according to a filing with U.S. regulators. Nexen is awaiting Canadian government approval of a takeover by CNOOC, Chinas biggest offshore oil and natural gas producer. The state-owned company is confident its proposed $15.1 billion takeover of Nexen will be completed by the end of the year, Chairman Wang Yilin said recently. The retirement fund had $117-billion of assets at the end of last year. Source: Financial Post Wells Fargo bolsters Canadian presence U.S. banking giant Wells Fargo & Co. is bolstering its presence in the Canadian market, with a push into wholesale banking that looks to capitalize on the number of companies

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doing cross-border business. The fourth-biggest U.S. bank by assets is launching a new wholesale banking division in Canada, after recently receiving the go-ahead from regulators. The expansion also includes the opening of a branch in Toronto, where Wells Fargo's Canadian operations are currently headquartered. Wells Fargo plans to seek more lending, foreign exchange, treasury management, and trade business with wholesale customers in Canada, including those that do business in the U.S. In addition to its offices in Toronto, the bank has offices in Montreal, Calgary and Vancouver, with about 75 bankers. Source: Globe and Mail TransCanada gains second Mexican gas pipeline Mexican authorities have awarded TransCanada Corp. another natural gas pipeline contract. The Calgary-based company says it will invest about $400-million (U.S.) in a 413-kilometre pipeline between El Oro and Mazatlan, near Mexicos west coast. The Mazatlan pipeline will connect with the $1-billion Topolobampo pipeline that TransCanada was awarded recently. TransCanada will build, own and operate the two new pipelines through its Mexican subsidiary, Transportadora de Gas Natural del Noroeste. Both projects are supported by 25-year natural gas transportation service contracts with the Comision Federal de Electricidad, or CFE, Mexicos federal power company. TransCanada already has one of North Americas largest networks of gas and oil pipelines, including two natural gas lines already operating in central Mexico. The company built, owns and operates the Guadalajara and Tamazunchale natural gas pipelines in central Mexico and will soon break ground on a Tamazunchale pipeline extension. Source: Globe and Mail Franco-Nevada to buy Weyburn Oil stake for $400-million Franco-Nevada Corp. said it is buying a $400-million stake in a Saskatchewan oilfield. The mining financier said it has a deal with Penn West Petroleum Ltd. to acquire an approximate 11.7 per cent net royalty interest in the Weyburn Oil Unit for $400-million in cash. The Weyburn Oil Unit is a conventional unitized oilfield in southeast Saskatchewan, operated by Cenovus Energy Inc. Current production levels are about 26,000 barrels of oil per day with a reserve life index based on proven and probable reserves of more than 20 years. The acquisition adds to Franco-Nevadas existing interests in the project, which include a 0.44 per cent overriding royalty and a 2.26 per cent working interest. The company said the acquisition will further diversify its royalty and stream portfolio and adds known and proven cash-flowing assets in a safe jurisdiction. Franco-Nevada specializes in financing for mining projects in return for production streams once they begin commercial operations. Source: Canadian Press RioCan expanding in U.S. with new regional office RioCan Real Estate Investment Trust is looking to have a new regional office open in the U.S. and staff on the ground by January as it works to expand its business south of the border. Chief Executive Officer Edward Sonshine says the office, which will operate like the trusts other regional locations across Canada, will help RioCan improve operations. RioCan has been developing its operations in the U.S. in recent years. Mr. Sonshine reiterated the trusts plan to expand its U.S. operations to as much as 20 per cent of its 17

overall business from its current level about 15 per cent. In Canada, RioCan has been ramping up operations in preparations for the arrival of U.S. retailer Target in Canada and releasing Zellers locations that Target is not taking over. The trust has also been developing several outlet malls in Canada in a joint venture with U.S.-based Tanger Factory Outlets. Last month, RioCan and Tanger signed a deal to buy two outlet centres in the Montreal area for $94.7-million. Source: Canadian Press Suzuki to go it alone in Canada The Canadian subsidiary of Japan-based Suzuki Motor Corp. said it will continue to sell vehicles here even though American Suzuki Motor Corp. is pulling out of the U.S. market and has been granted Chapter 11 bankruptcy protection. The auto makers products-generally in the compact and subcompact segments-are more appropriate for the Canadian market than the U.S. market and sales here have been rising in recent months, said Bill Porter, Suzuki Canadas Senior Vice-President of automotive sales and marketing. Sales have hit 500 a month nationally in each of the past five months, Mr. Porter said, showing a turnaround from 2011, when they fell 38 per cent. Suzuki produced vehicles in Canada for almost 20 years at Cami Automotive Inc. in Ingersoll, Ontario, a joint venture it shared with General Motors Co. Source: Globe and Mail Harry Winston to buy BHPs diamond business for $500-million With one bold move, Harry Winston Diamond Corp. is poised to transform itself into Canadas first big-time diamond mining company, in what could be the first of several big changes to the countrys diamond sector. By acquiring BHP Billiton Ltd.s majority stake in the rich Ekati mine in the Northwest Territories, Harry Winston will become a mine operating company. It fills a major void in Canadas capital markets, as Canada is one of the worlds largest diamond producers but does not have an investing vehicle that reflects it. The mines are all controlled by large foreign firms. The deal will enter a 60day waiting period, as the minority investors in Ekati (Chuck Fipke and Stewart Blusson) have a right of first refusal on the BHP stake. While some experts doubt they will buy it, others think it is quite possible if they can round up the funds. One source they could look to is Ned Goodmans Dundee Corp., which provided prior financing for Ekati and is heavily involved in the diamond sector. Source: Financial Post Osisko buying Queenston Mining in all-stock deal Osisko Mining Corp. signed an all-stock deal recently valued at $550-million to buy Queenston Mining Inc. and its flagship Upper Beaver project in Ontarios Kirkland Lake region. Queenston also owns several other gold properties in the Kirkland Lake gold camp area as well as interests in projects in Quebec, Manitoba and elsewhere in Ontario. Queenston President and CEO Charles Page said the Upper Beaver project has the potential for four million ounces of gold. Osiskos proven development team can certainly maximize the potential of the Upper Beaver project, he said. Osiskos main asset is the Canadian Malartic gold mine, which began commercial production in May 2011, in Quebecs Abitibi mining region. In addition to Canadian Malartic, Osisko is also developing the Hammond Reef project near Atikokan, Ontario. Source: National Post

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Leons buys rival The Brick, to take on U.S. retailers Retailer Leons Furniture Ltd. is acquiring the Brick Ltd. for about $700-million in a friendly deal that is aimed at strengthening the merchants as they prepare for the next foreign retail invasion. The agreement will see the countrys two largest specialty furniture retailers team up amid a sluggish economy and weakening housing market, which has put strains on sales growth and forced the two big players to look for new ways to gain an edge. The two companies are looking to pick up momentum by combining forces to help fight off expanding foreign players, including U.S. discounter Target Corp. Target will start opening stores here in March with its style-conscious home furnishings. The two chains will keep their banner names. Source: Globe and Mail EastLink joins ranks of on-the-go TV providers EastLink Communications Inc. has become the latest cable company to provide an onthe-go television service to give its customers content on a number of devices including smartphones, tablets, laptops, and personal computers. Dubbing its offering EastLink To Go, Halifax-based EastLink said the new video service is part of the companys larger strategy to move beyond traditional telecommunications services, such as cable and home telephone. In doing so, EastLink is following in the footsteps of its larger cable and telecom peers which are all making strides in providing multi-screen TV everywhere services to ensure consumer loyalty. EastLink To Go would be free to its TV customers. It will include access to content such as Hollywood Suite, Super Channel, MGM, and Sony Movie Channel OnDemand and Eastlink TV live and OnDemand, the company said. EastLink is owned by the privately-held Bragg Group, which was founded by Lee Braggs father John Bragg. EastLinks cable operations are in nine provinces, with the exception being Saskatchewan). It has roughly 550,000 television subscribers.
Source: Globe and Mail

Pinecrest, Spartan Oil to form single company Pinecrest Energy Inc. and Spartan Oil Corp. are planning to form a single company with a number of light oil projects in Western Canada and a combined enterprise value approaching $1-billion. Pinecrest is focused on the Red Earth area of north-central Alberta while Spartan is involved in the Cardium light oil play in central Alberta and the Bakken light oil play in southeast Saskatchewan. Pinecrests existing executive team, led by Wade Becker, will manage the new entity, which may operate under a new name. When the deal closes, and prior to a proposed three-for-one share consolidation, the combined company will have approximately 513.4-million shares outstanding with Spartan shareholders owning approximately 49 per cent. The deal is subject to approval by at least two-thirds of shareholders of both companies as well as regulatory and court approvals. Pinecrest is active in the emerging light oil Slave Point carbonate resource play focused in the greater Red Earth area of north-central Alberta. Spartan Oil Corp. is focused on the Cardium light oil play in central Alberta and the Bakken light oil play in southeast Saskatchewan. Source: Canadian Press

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AstraZeneca, Pfizer team with Quebec on research centre Two foreign pharmaceutical giants are teaming up with the Quebec government to create a life sciences research centre that is touted as a new R&D model in the industry. AstraZeneca Canada, Pfizer Canada Inc. and the province say a total of $100-million over five years will be invested in the centre- dubbed the NOMED Institute. The facility is to act as a bridge between the private sector and academic research and also bring together the various players in the R&D chain, the two companies said. AstraZeneca is investing $35-million, including land, a neuroscience basic research facility and cuttingedge laboratory equipment. The company is also donating intellectual property rights to three of its pain molecules and projects, as well as $5-million to support institute activities. Pfizer is contributing about $3.5-million and Quebec is putting in $28million.The institutes main goal is to stimulate research and collaboration and facilitate the transition from academic research to new-drug development, the companies say.
Source: Globe and Mail

Onex buying U.S. insurance broker USI for $2.3-billion Onex Corp. is buying U.S. insurance broker USI in a $2.3-billion (U.S.) deal. Based in Briarcliff Manor, N.Y., USI is the ninth biggest insurance broker in the United States and the 13th largest in the world. USI has a mix of property and casualty, employee benefits and retirement consulting, with more than 3,300 employees in some 100 offices throughout the U.S. The current owner of USI, Goldman Sachs Capital Partners, bought the company for $1.4-billion in 2007. USI recently acquired TD Insurance Inc. from Toronto-Dominion Bank. Toronto-based Onex is a diversified holding company and private equity investment firm. Investments include companies in electronics manufacturing services, aerospace, health care and financial services. Onex said financing of the deal includes a $700-million equity investment from Onex Partners III, in which Onex is a 25-per-cent limited partner. Source: Globe and Mail Bayer to buy software developer Radimetrics Drug multinational Bayer AG says it has struck a deal to buy Canadian healthcare software developer Radimetrics Inc. Subsidiary Bayer HealthCare said the principals of privately held Radimetrics have agreed to sell of their shares in the company. Radimetrics key product is eXposure, software that accurately measures a patients radiation dose exposure over the course of multiple imaging procedures or scans. Bayer HealthCare said eXposure also serves as a quality control and improvement platform. Financial details of the agreement were not disclosed. Radimetrics staff in Toronto and Scotland will be folded into Bayer, expanding Bayers existing informatics group. Radimetrics was founded in 2009. Source: Globe and Mail Merck invests in Montral's life sciences research sector Merck Canada announced recently that it is reinforcing its commitment to growing Montral's life sciences basic and translational research sector, by investing $12.5 million to fund research at three prominent university-affiliated and hospital-based research centres. This investment marks the latest contribution by Merck in its 2010 20

announcement to inject $100 million over five years in biopharmaceutical research and development (R&D) in Qubec. This investment by Merck supports the Research Institute of the McGill University Health Centre (RI-MUHC), the CHUM Research Centre (CRCHUM) and the Montral Heart Institute Research Centre (MHI), and their mission of promoting the development of scientific advancements that will improve healthcare. With this investment Mercks total investments to date in the province are approximately $60 million. Source: Canada Newswire Calgary-based company plans first U.S. oil sands project Calgary-based U.S. Oil Sands Inc. plans to produce 2,000 barrels per day by 2014 on its PR Spring Oil Sands Project, a $30-million operation, which it aims to scale up to 50,000 bpd within 10 years.Our current plan is to proceed with the construction of the first phase next year-our first full year of operations. We expect to be in full production in 2014, Cameron Todd, Chief Executive of the company, said. This will be the first -ever oil sands extraction project commercially built in the United States.Utah is presumed to have anywhere between 6.1 billion and 19 billion barrels of oil sands reserves and the TSX Venture-listed company has acquired 32,000 acres of land in the Uinta Basin- the largest oil sands holding in the state. The PR Spring project is a 5,000-acre mountaintop open-pit mine estimated to contain 190 million barrels of reserves, which the company has been excavating and testing since it received a permit in 2010. Source: National Post Dundee bets on Canadas housing market with new deal Ned Goodman, Chief Executive of Dundee Capital Markets Inc., has made a move into the residential sector with the purchase of Sothebys International Realty Canada by one of his companies. Mr. Goodmans 360 VOX Corp. said it has entered into an agreement to acquire a group of real estate businesses in Canada known as Sothebys International Realty Canada, Sothebys International Realty Quebec, and Blueprint Global Marketing. The group is involved in listing, marketing and selling real estate including condominium developments, attached and detached homes and resort properties, according to a release. The Blueprint Global Marketing arm works with the Sothebys International Realty network listing and selling international developments. The deal is for $3.65-million in cash and 54.25 million common shares of 360 VOX or about 27% of the issued and outstanding common shares of 360 VOX prior to the transaction.
Source: National Post

Bombardier signs historic $7.8-billion jet deal, biggest on record The Montreal-based aerospace and rail giant says it has signed a $7.8-billion (U.S.) deal with VistaJet for up to 142 Global business aircraft, including firm orders for 56 of the jets and options on another 86 units. The value of the firm order is $3.1-billion. The only other order of this magnitude for Bombardier was last Junes commitment from NetJets to buy up to 275 Challenger jets, valued at about $7.3-billion. Bombardier is a key global player in the large business aircraft segment. VistaJets firm order is for 25 Global 5000, 25 Global 6000 and 6 Global 8000 jets. Deliveries are to start in 2014. VistaJet is based in Switzerland but its main office is in London. Source: Globe and Mail

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FORTHCOMING EVENTS IN CANADA

2012 Canadian Aerospace Summit: (December 5-6, 2012, Ottawa Convention Centre): At the summit, world renowned experts will provide perspectives on key world trends such as mergers and acquisitions, the impact of competition from emerging aircraft producing countries on traditional aerospace manufacturing countries and provide a context to define what key decisions should be made now to grow the industry of the future. (www.aiac.ca) Canadian Association of Petroleum Producers 2012 Investment Symposium: (December 10-12, 2012, Sheraton Centre Toronto Hotel): The Investment Symposium, one of Canadas most established investor forums, is the industrys annual showcase to investors. The Symposium will feature keynote speakers focused on the opportunities for Canadian energy globally and the role that the oil and gas industry plays in attracting investment capital to Canada, creating employment and economic growth that benefits all Canadians. (www.capp.ca) BC Foodservice Expo: (January 27-28, 2013, Vancouver Convention Centre): is British Columbias foodservice event of the year, organized by the Canadian Restaurant and Food Services Association. The BC Foodservice Expo is the place to exhibit your products and services in British Columbia. Thousands of buyers and decision-makers attend this major industry event for the ideas, innovations, new products and people who can help them grow their businesses. (www.crfa.ca/tradeshows/bcfse) PDAC 2013: (March 3-6, 2013, Metro Toronto Convention Centre): is the worlds leading convention for people, companies and organizations in, or connected with, mineral exploration. In addition to meeting over 1,000 exhibitors, 30,369 attendees from 125 countries, the conference allows you the opportunity to attend technical sessions, short courses as well as social and networking events. (www.pdac.ca) CRFA Show: (March 3-5, 2013, Direct Energy Centre, Exhibition Place): The Canadian Restaurant and Food Services Association Show is the largest event of its kind. More than 700 exhibitors participate each year. Over 12,000 industry professionals come to discover the latest trends and innovative products. (www.crfashow.ca) SIAL CANADA 2013: (April 30- May 2, 2013, Direct Energy Centre, Toronto): is the biggest food show in North America. It is co-located with SET Canada, the National Food Equipment and Technology Tradeshow. (www.sialcanada.com) Canadian Manufacturing Technology Show (CMTS): (September 30- October 3, 2013, International Centre, Mississauga): will feature advanced technology and cutting edge equipment in Automated Manufacturing & Assembly, Automation & Controls, Bar Coding etc. Besides the show there is an exclusive industry keynote, opportunity to participate in interactive panel discussions. (www.cmts.ca)

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BUSINESS OFFERS FOR INDIAN COMPANIES

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