Category Archives: Economy

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CIBC Report Says The Loonie Could Drop To US$0.70 If Its Exportation Problems Continue

A report from the Canadian Imperial Bank of Commerce Capital Markets has issued a statement to Canada; if the country doesn’t up its export game, currency exchange Ottawa and across the country will be seeing the Canadian dollar, or the loonie, continue dropping, possibly hitting US$0.70 within the next decade.

According to the report, authored by CIBC Capital Markets economists Royce Mendes and Avery Shenfeld, Canada’s exportation hasn’t really kept up with the rest of the world, with slow growth since the turn of the millennium, save for the country’s bounce-back following the recession. The issue, they say, in the country seeing a lack of new facilities like offices and factories opening up in the country, which Canada needs to expand its export capability

According to the report, Canada’s exports and industrial capacity have gone done in all but a few sectors since the latter half of the 90s, which has lead to people in the industry questioning whether or not the country still be a enticing development location for such facilities today.

While there has been some celebration in Canada thanks to a few successes, Canada’s imports to the US have gone done from about 20% around the start of the 00s, as today it only sits at about 13%. In the automobile manufacturing industry, in particular, Canada’s assembly plants produce about a million units less, with the employment in the sector behind by about 100,000 jobs.

Other problems include the Canada’s activity in the US Market superseded by trade from other, lower-cost countries, like Mexico. The report simplifies this, saying that Canada’s export volumes have grown in such a slow rate that most plants pack up and relocate.

The report says that that if Canada can’t tip the scale to their favor, they can, at least, get the market to do it for them.  A poor current account will, in time, result in a Canadian dollar that’s weaker than its competition. It would be better that the country had other things going for it that would support exports, rather than letting the dollar do the work. The loonie’s current state isn’t able to handle much foreign spending, with the report forecasting that currency exchange Ottawa and across the country could see the loonie drop until it hits US$0.60 by the 2020s.

Suggestions for dealing with the issue from the report include targeted support and improvements to training and education, with a focus on tech-related services, as well as streamlining government processing, lowering corporate taxation, and improving business infrastructure in the country.

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How To Choose Chartered Accountant Insurance Provider

There are several tax investigation insurance firms in New Zealand. All of these insurance companies do their best to encourage more clients. If you are looking for an insurance provider for chartered accountant insurance, you can find numerous companies on the internet but you need to be more prudent in order to find a reliable firm that you can depend on if the government conducts an investigation on your tax submission. To hire the right insurance provider, take a look at these qualities.

Large following and insurance clients

Ask your prospective insurance provider of the number of clients that are currently ensured under their company. If the insurance company has a long list of ensured clientele, it only means that they are trusted in the industry and this can be positive indication. Aside from the number of ensured individuals and businesses, it would also be wise to choose a company that operates not just locally but in other countries such as in Australia and Canada. With more branches and offices in other countries, the insurance company can be taken as established and reputable.

Years of service in the industry

Choose a chartered accountant insurance company that has been in the industry for a considerable number of years. As much as possible, choose a company that has been providing accounting related services such as tax audit insurance for over 10 years.

More positive testimonials from clients

Lastly, choose a tax audit insurance provider that is trusted by individual tax payers as well as companies, big or small. You can find these feedbacks from the insurance company’s website or in review sites found on the internet. There are review sites that also provide ratings to chartered accountant insurance providers. Higher ratings mean the insurance provider is more trusted by more clients. If you want direct interaction from those who have gone through tax enquiry, join the discussions in forums found on the internet. Find out where they obtained their insurance and if they were happy with the service. Conduct a good research to find a reputable service provider.

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How To Prevent Sydney Roof Repairs

Sydney roof repairs can be costly especially when you decide to have it fixed when damage is already massive and your roofing problem has already affected your structure. In order to avoid spending more than you should and to avoid getting inconvenienced by massive repairs, do some simple prevention techniques. Here are some of those.

Trim your trees

Tree branches and leaves that extend to your roof can eventually damage your shingles or tiles especially when they are already weighty. Insects and animals that inhabit trees can migrate to your roof and cause damages with their waste or droppings. Hire a tree lopper to do the job. By the way, lopping trees is cheaper compared to roof repairs.

Clean your gutters

Dead animals or stuck leaves and branches can also damage your roof. A decomposing animal attracts microorganisms that consumes carcass. When these microorganisms are done with the carcass, they will transfer to your room and consume it too. Stuck leaves will prevent free flow of water on your gutter and when water is stuck, it will eventually leak into your roof, down to your ceiling. To avoid costly Sydney roof repairs have your roof gutters checked during summer or during fine weather.

Keep your attics well ventilated

Another usual cause of damaged roof is cluttered and poorly ventilated attic. Musty and hot attic softens the ceiling and the roof making it susceptible to decay and damage. Organize your items in the attic and keep it well-lit with ample air flowing freely within.

Repair damaged tiles right away

The moment you see loose shingles or tiles on your roof or when you noticed signs of leakages, look for a roof specialist right away. Stalling repair may incur greater damage and greater bills. Aside from that, massive repair on your roof can be an inconvenient for your family. To reduce the costs, ask for cost estimates from different companies that specialize in Sydney roof repairs. Aside from the costs, read reviews and notice how efficient the company is in terms of responding to your quote request.

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Will Plain Packaging Be The End Game For The Tobacco Industry?

Is plain packaging the end game for the tobacco industry? Health Canada is proposing new packaging rules for tobacco products similar to what Australia is doing. Tobacco products are being used by more than 5 million Canadians. About 37,000 people are killed every year by tobacco and it is expected that more will die prematurely if they do not quit the habit.

If the logos and colors on tobacco are removed, the graphic health warnings on the packages will become more powerful because the brain will easily understand the unambiguous messages. People are actually worried about the youth and they want rebranding so that the product will look different. However, the tobacco industry has fired back. Nobody in Canada started smoking because of the packs particularly since packaging is already covered with graphic health warnings.

According to Igor Dzaja of JTI-MacDonald Corp. the Canadian government should crackdown on illegal smokers instead of implementing misguided regulations. Plain packaging is interfering with the freedom of consumers on products like alcohol and junk food. Canada should stop from importing a failed Australian experiment that introduced plain packaging.

However, David Hammond of the School of Public Health, University of Waterloo says the plain packaging has contributed to the large decline in smoking in Australia. Hammond has looked at the tobacco industry for several decades and found out that packaging does matter. Evidences from consumer tracking revealed that packaging can increase the market share of brands.

For example, regular Coke uses red while Diet Coke uses silver. Perfume packaging makes the product more appealing to women. If cigarette packs are light in color, it leads smokers into thinking that the cigarettes are also “light.” The tobacco industry is fighting plain packaging because it is the remaining bastion of their marketing. They are going to fight with all their available resources.

Packaging is certainly important for a product because it increases its appeal. If you are searching for packaging supplies your best option is Paper Mart that offers the best for less. If you require more information, make a call so that an experienced staff can help you with the order.

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Foodbank Receiving 200 Indian Dishes This Christmas

A restaurant owner in Dundee has pledged to give and spread the holiday cheers by giving away 200 turkey meals. The recipient of this generous donation will be the Dundee Foodbank. The notable restaurateur is known to be Ibrar Ibrahim who is currently 51 years old. He decided to do his part by contributing after witnessing how the foodbank in Scotland is always busy and hard at work in helping the less fortunate.

Mr. Ibrahim was a native of Hilltown and is the owner of a restaurant called Goa Indian Restaurant located in the Broughty Ferry. Upon deciding that he is going to contribute to the foodbank, he solicited the management’s cooperation so that he can utilize the kitchen as well as asked some of the staff to help out. Upon hearing the news, the management and the staff were all happy to be of service.

Together with Mr. Ibrahim and the chef of the restaurant, they are going to make 200 Christmas dinners this coming Christmas Eve. Dundee Foodbank will be the one to collect all the meals prepared and then these foods will be given away to the homeless shelters all over Dundee the following day.

Mr. Ibrahim shared how he experienced firsthand the cruelty of poverty and admitted that the cause is very close to his heart. He attended the Dens Road Primary and was raised in the lesser part of town. He also revealed how his schoolmates used to be where the homeless are since they can barely afford to have a proper holiday celebration.

He also admitted that Christmas Eve will present to be quite a lot of work. Aside from preparing the 200 dinners, they will also continue receiving customers. They will start their work earlier than their usual work time. The smile on the recipients’ faces will be enough to make up for the long day. Dundee Foodbank’s manager, Ken Linton, also expressed his gratitude in the generosity of the donation for them to be able to feed the poor during Christmas time.

Indian cuisine is getting more popular and for customers who are local to Perth, they may also visit nearby Indian restaurants for their Christmas celebration.

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Results Of Iron Ore Industry’s Drop In Australia

Perth airport transfers used to be rampant before Australia’s iron ore commerce crashed. The decline in the industry threatens the jobs of miners and other careers reliant on the mines.

The value of ore has dropped down to around 70% from its peak price on 2013.

The industry’s fall has been caused by a dramatic drop on the demand of iron ore in China. China’s poor economic condition means they no longer need plenty of iron ore. The mineral is a main component of steel; a necessity in building infrastructures.

Large miners have to cope up by doubling efforts to increase production with the aim of developing market share. Price hits rock bottom because of the economic equation of supply and demand.

Market share value of the country’s chief iron ore companies has been greatly affected.

Working conditions have been altered to handle the situation. Employees enter for a couple of weeks, alternating with 12-hour shifts. After that, they pull out for a 7-day forced leave. The modification in schedule results to the need for lesser employees. It is among the measures aiding Fortescue Metals, one of the leading iron our companies to survive.

According to the mine’s manager Maryanne Kelly the conditions has been greatly altered. Because of this, they are forced to think and act in a different way.

Karratha is a coastal city put together due to mining expansion. It was supposed to be a community rapidly soaring. Many have been retrenched and are being challenged to adapt after the good years. Because of the loss of jobs, people exit from the city which harms real estate values.

Real estate prices went down to almost 50%. According to Nanette Williams who is in charge of Pilbara Community Legal Service, it is expected that the price plummet impacted the community. She offers free counsel to residents with devastating financial burden. She said plenty of people drop their houses; some just gave up and left their keys to banks.

Deborah Napier, an entrepreneur in Pilbara for 2 decades, said this is the worst market case she has ever seen.

Nonetheless, there is cash to be earned in Karratha, it’s just difficult to rise up after riding the highs of mining blast in Australia.

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Congo’s Nationwide Unrest Left 42 Civilians Dead

Congo experienced extensive violence and mass protests after a parliamentary bill was announced in media which was seen as a ticket for Congo’s president to extend his term in office. The divisive president of Congo, Joseph Kabila has stirred up mistrust among the people of Congo.

The International Federation of Human Rights reported that at least 42 civilians were killed by government militia. The number of people killed reported by the government of Congo was only 14 people.

The authorities cut off access to internet for two days as the nationwide unrest continued.

Civilians terrorized

A mother was in tears upon learning the death of his 24 year old son. She was crying while recounting to media how great his son was and how bright his future would have been. The mother pleaded that his son’s life be restored. Christian, the boy who died during the violent uprising was an unemployed guard, attended the nearby church regularly and had nothing to do with politics.

The mother’s grief was only one among the several woes of people who lost loved ones in the uprising. They are calling to receive justice from the government.

The senate’s decision

The senate of Congo in a pronouncement last Friday appeared to withdraw the bill. If the bill will be implemented, Joseph Kabila will be kept in power for two more years. The senate president told the media that they have heard the plea of the citizens of Congo and have heeded their call.

The senate’s decision brought adults and students alike to their feet in jubilation. People of Congo have expressed their dislike for the current president and extending his reign of power brought about criticisms and hatred to the government.

Congo’s economy

Investors in the region are hesitant to conduct business expansions in the country. The turmoil in Congo has affected the performance of the businesses in the area. When internet was cut off for a full two days, online businesses took a big blow. Take for example Papermart, an online business in the packaging industry experienced lower sales in that part of the world.