Bullion had hit a three-month low earlier in the day as investors bet that a deal could be reached. But as negotiations sputtered ahead of a Thursday deadline, a safe-haven rally for gold in turn boosted Canada-listed gold miners. “Many of the leading (gold mining) stocks have been beaten down beyond belief, are trading at very attractive valuations and they offer good dividend yields,” said Elvis Picardo, a strategist at Global Securities in Vancouver. The gold mining sub-index, which has declined sharply in recent months, gained more than 3 percent. Other commodities, including oil, were lower, while the three main U.S. indices also retreated in the face of the political uncertainty. The resource-heavy Toronto Stock Exchange’s S&P/TSX composite index ended up 39.35 points, or 0.31 percent, at 12,931.46. Picardo said the index should be well-placed to gain in the medium-term, assuming a deal is reached that avoids a U.S. default. “Investors are just waiting for this one big uncertainty to be resolved before they jump in with both feet,” he said, pointing to energy and mining stocks as likely winners. Hopes for a deal had risen after U.S. Senate Majority Leader Harry Reid, a Democrat, and his Republican counterpart, Mitch McConnell, ended a day of talks on Monday with Reid saying they had made “tremendous progress.” “I suspect something will happen on the positive side (in U.S. fiscal negotiations) but in the meantime the market is very nervous,” said Irwin Michael, portfolio manager at ABC Funds. Barrick Gold Corp gained 3.7 percent to C$18.46, while Goldcorp Inc added 2.2 percent to C$24.97. Pipeline operator Enbridge Inc declined 1 percent to C$42.55, while Talisman Energy Inc fell 1.5 percent to C$12.52.
The week included both the FIFA Women’s World Cup Official Host Cities Workshop and the Venue General Manager meetings. We welcomed the Host Cities to the nations capital for the FIFA Womens World Cup Canada 2015 Host City Workshop, said Peter Montopoli, Chief Executive Officer of the National Organising Committee. This is a great opportunity for our country to work together as we approach what will be a once-in-a-lifetime experience for sport in Canada . The FIFA Women’s World Cup Official Host Cities Workshop provided cities with the chance to meet FIFA marketing, communications and brand protection representatives. The sessions also provided the cities with the chance to learn more about the opportunities available to them in hosting both the FIFA U-20 Womens World Cup Canada 2014 and FIFA Womens World Cup Canada 2015. Also as part of the weeks activities, the National Organising Committee officially launched the National Volunteer Programme on Tuesday 8 October. The launch took place at historic Parliament Hill, with the Honourable Candice Bergen, Canada s Minister of State (Social Development). Canadians showed their strong interest and support of the competitions with nearly 1,000 persons registering to volunteer in the first two days after the portal opened. The FIFA U-20 Womens World Cup Canada 2014 runs 5-24 August in Edmonton, Toronto, Montreal and Moncton. The FIFA Womens World Cup Canada 2015 runs one year later from 6 June to 5 July in Vancouver, Edmonton, Winnipeg, Ottawa, Montreal and Moncton.
Canada natives facing ‘crisis’: UN envoy
View gallery United Nations Special Rapporteur on the rights of indigenous peoples James Anaya, speaks at a press conference on June 18, 2010, in Guatemala City (AFP Photo/Johan Ordonez) Ottawa (AFP) – Canada faces “a crisis” when it comes to the plight of aboriginals, despite strides made recently in trying to improve their lot, a UN envoy said Tuesday. United Nations Special Rapporteur on the rights of indigenous peoples James Anaya, at the end of a nine-day tour of Canadian aboriginal communities, said steps taken to right historical wrongs, and help lift aboriginals out of severe poverty have been “insufficient.” “Despite positive steps, daunting challenges remain,” he told a press conference in Ottawa. “From all I have learned, I can only conclude that Canada faces a crisis when it comes to the situation of indigenous peoples of the country.” He noted that the “wellbeing gap” between Canadian aboriginals and non-aboriginals has not narrowed over the last several years. He pointed, for example, to overcrowded, mouldy homes “in need of serious repair,” high suicide rates, and lack of educational and work opportunities in many aboriginal communities. “Overall there appear to be high levels of distrust among aboriginal peoples toward government(s),” he added. Anaya visited several aboriginal communities, and spoke with government officials over the past nine days. In his preliminary observations, he urged Ottawa to consult more with aboriginals on proposed education legislation, hold a national inquiry into missing and murdered aboriginal women, and prolong an ongoing Truth and Reconciliation Commission probing abuses at government-funded, church-run residential schools. “If that doesn’t happen, the path forward will be a rocky one,” he warned. The government has recently said no to all three. Anaya will soon present a more detailed report on the plight of Canadian natives, with recommendations, to the United Nations Human Rights Council. In it he is expected to also praise Canada for its process of settling land claims, remedying gender disparities in laws specific to natives, and “adopting the goal of reconciliation, to repair the legacy of past injustices” since Anaya’s predecessor last visited Canada in 2003. Conflicts with aboriginals arising over Canada’s burgeoning resource industry may also be featured in the report. Several tribes are protesting against new mines, pipelines and other resource projects in their traditional territories, either over environmental concerns or demands for a slice of royalties. “As a general rule, resource extraction should not occur on lands subject to aboriginal claims without adequate consultations with and the free, prior and informed consent of the aboriginal peoples concerned,” Anaya said. Politics & Government