Business Opportunities in Canada

From Consulate-General of India, Toronto, Canada

Number 6/2012 INDEX Contents Canadian Economy India Canada Corporate News Forthcoming Events In Canada Business Offers For Indian Companies Page 2 5 10 16 17 July 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
TPP membership would give Canadian economy big boost, study says Membership in the Trans-Pacific Partnership could increase the size of Canadas economy by as much as $9.9-billion (U.S.) or 0.5 per cent of annual gross domestic product by 2025, according to research on the Asian trade pact. Canadas economic gains, however, would be much smaller than those derived by many of the other member countries in the proposed agreement, according to a research paper co-authored by Peter Petri, a professor at the Brandeis International Business School and Michael Plummer, a professor of international economics at the Johns Hopkins University. After months of intense lobbying, Canada, along with Mexico, was invited to join the TPP negotiations. If successful, trade liberalization and tariff reductions achieved by the TPP could yield global income gains of $295-billion by 2025, including $78-billion for the United States, according to the paper. The paper suggests the TPP could boost Canadian exports by $15.7-billion or 2.6 per cent by 2025. U.S. exports would rise by 4.4 per cent under the same scenario. Source: The Globe and Mail Harper Government highlights benefits for Ontario of a Potential Canada-EU Trade Agreement On April 27th, The Honourable Tony Clement, President of the Treasury Board and Minister for the Federal Economic Development Initiative for Northern Ontario, the Honourable Joe Oliver, Minister of Natural Resources, the Honourable Lisa Raitt, Minister of Labour, and the Honourable Peter Van Loan, Leader of the Government in the House of Commons, joined other federal ministers across the country in highlighting the benefits of a potential trade agreement with the European Union. They held events at local businesses in Ontarios important manufacturing, financial services, chemicals and plastics, and research and development sectors to highlight the benefits a Canada-EU trade agreement would generate for Canadian workers and their families. Our government is focused on jobs, growth and long-term prosperity. An ambitious agreement with the European Union will be a big win for Ontarios workers and businesses, said Minister Clement. Source: Foreign Affairs and International Trade Canada Harper Government focuses on Innovation as key driver of Hydrogen Industry On June 4th, The Honourable Gary Goodyear, Minister of State for Science and Technology delivered the opening address at the World Hydrogen Energy Conference 2012 about Canada's role in the hydrogen and fuel cell industry. He also talked about the potential opportunities that exist in this emerging industry and outlined how Canada is fuelling innovation in business through Economic Action Plan 2012. "Our government continues to build on a positive record of achievement and helps Canadian businesses and entrepreneurs to innovate and remain competitive," said Minister of State Goodyear. "By focusing on innovation, a key driver of growth and job creation, the measures announced in Economic Action Plan 2012 will solidify, strengthen and draw upon the entrepreneur's

role as the driving force behind Canada's economy." Canada's hydrogen and fuel cell sector is recognized for its role in developing clean technology applications.
Source: Industry Canada

PM announces signing of an agreement for the construction of the new Detroit River International Crossing On June 15th, Prime Minister Stephen Harper announced the conclusion of an agreement between Canada and the State of Michigan toward building a new publicly owned bridge crossing between Windsor, Ontario, and Detroit, Michigan. The agreement establishes the framework for each partys roles and responsibilities for the construction, financing, operation and maintenance of the new international crossing. Our Government is taking the measures necessary to facilitate trade and investment between Canada and the United States in order to generate jobs, economic growth and long term prosperity, said the Prime Minister. This new bridge will reduce congestion at this critical Canada-U.S. border crossing, support the creation of new export related jobs and investment opportunities along the Quebec CityWindsor Corridor, increase the competitiveness of the North American manufacturing sector, and provide thousands of construction jobs in Ontario and Michigan. Source: Prime Ministers Office Ministers Paradis and Moore welcome Passage by the House of Commons of the Copyright Modernization Act On June 19th, The Honourable Christian Paradis, Minister of Industry, and the Honourable James Moore, Minister of Canadian Heritage and Official Languages, together welcomed the passage by the House of Commons of the Copyright Modernization Act, Bill C-11. "Our government is creating a modern legislative framework that will strengthen our ability to compete in the global digital economy," said Minister Paradis. "This legislation balances both the rights of creators and the interests of consumers. It will protect and create jobs across the country while promoting innovation and attracting new investments." The passage of Bill C-11 by the House of Commons represents the culmination of extensive consultations by the Harper Government. These began in 2009 with a highly successful online forum and town hall meetings held across the country, followed by a legislative review conducted through two sessions of Parliament, 31 days of committee meetings and over 110 witnesses. Source: Industry Canada Ontario 'making progress' toward fiscal health: Drummond Some of their decisions have boggled his mind, but economist Don Drummond says Ontario is making progress on putting the province on a path to fiscal health. "I don't know if I want to assign a grade," the former TD banker said, five months after tabling an exhaustive review of Ontario's public services and finding them in need of sweeping reform. "They're on the right track and so far, so good." Drummond even suggested the Liberal government has gotten a bad rap for ignoring him when about half his recommendations are being put in place and only a handful have been explicitly rejected. "I think people in general, including the media, have been too harsh on what's been adopted so far," Drummond said. The half of the report's 366 recommendations that have been adopted -- "the easy half," he called them, although they will save the most money 3

- includes paying no wage increases to doctors, nurses, teachers and other public servants for two years. "If they accomplish getting the compensation freeze with the doctors and the education part, that gets them a lot of the way towards the balanced budget," Drummond said. Source: Toronto Sun 2011 venture investment increases over 30% Canadian VC investment experienced its strongest annual performance since 2007 as $1.51 billion was invested in 504 deals. This represents a 34 percent increase over the $1.13 billion invested during 2010. Per quarter investment levels remained stable throughout the year with $342 million invested over Q4 2011, comparable to the three previous quarters and nearly 40 percent greater than Q4 2010. While overall investment has recovered from the historic lows experienced in 2009 it continues to remain shy of the $2.05 billion invested in 2007. Retail VC funds captured $402 million in 2011, accounting for the largest share of total new commitments, or 39 percent. After leading trends in 2010, private funds, which attracted $368 million last year, accounted for a reduced 36 percent. In 2011, VC investments backed 504 firms, a 23 percent increase over 2010. This is the highest level of total deals completed since 2005 when 595 firms received VC financing. Source: Industry Canada New mortgage rules may dampen economic growth: Flaherty Finance Minister Jim Flaherty said he realizes tightening mortgage rules could slow economic growth and cool the housing market, but that hes prepared to take the risk. Mr. Flaherty says he took action recently because there was no sign of a let-up in the hot condo market in major cities and because many Canadians cant seem to resist the lure of low mortgage rates. TD Bank has estimated that Ottawas move to reduce the maximum amortization period to 25 years from 30, effective next month, will curtail economic growth by about 0.2 percentage points in 2013. Mr. Flaherty said that he realizes the action may dampen the economy. But the risk of a housing bubble if had he not acted would have been greater. Source: Industry Canada Restaurant sales leap ahead in Q1 Canadas restaurant industry boasted strong sales growth in the first quarter of 2012 despite disappointing data on economic activity. Commercial foodservice sales advanced by a robust 6.7% in Q1 of 2012 compared to Q1 of 2011 representing the fourth consecutive quarter that sales have improved, and the strongest quarterly increase since Q1 of 2006. Foodservice sales were driven by a mild winter and strong spending in Western Canada. Due to strong consumer spending in Quebec and the Prairie provinces, quick-service restaurants led all segments with a solid 8.2% jump in sales in Q1. After several years of meagre growth due to the recession, sales at full-service restaurants continued to rebound with a 6.2% increase. Source: Restaurant Central Canadian Dollar below parity in comparison to US Dollar The Canadian dollar traded below parity in June and closed at .98 USD on June 29th.
Source: Bank of Canada

INDIA - CANADA
Minister of Road Transport & Highways visited Toronto Dr. C.P. Joshi, Minister of Road Transport & Highways led a 4 member delegation to Toronto from June 12-13, 2012. The Minister and his delegation toured the facilities of the 407 ETR Control Centre and the Ontario Ministry of Transportations Compass Control Centre. A meeting was also organized with the Niagara Falls Bridge Commission including a tour of the Rainbow and Queenston Bridges. MoU signed between India & Canada on Infrastucture Development, Operation & Maintenance of Roads A Memorandum of Understanding (MoU) was signed between India and Canada on June 12th, during the visit of Dr. C.P. Joshi, the Union Minister for Road Transport & Highways to Canada on the invitation from Mr. Denis Label, Minister of Transport, Infrastructure & Communication, Government of Canada from 10-13 June, 2012. The MoU will facilitate sharing and exchange of knowledge and technical expertise in the areas of infrastructure development, operation and maintenance of roads, Intelligent Transport System etc. India has shifted focus towards the Private-Public-Partnership Mode for undertaking development and up-gradation of national highways network across the country as also development of express-ways which are going to be accesscontrolled with all modern construction technology, Information Technology, including Electronic Toll Collection System. Source: Business Standard India seeks Canadian help to implement intelligent transport system India has sought Canada's help to implement the intelligent transport system in a large scale. Indian Minister of Road Transport and Highways Dr. C.P. Joshi and his Canadian counterpart Mr. Denis Label held discussions around this and other topics at a high level meeting in Quebec. It is expected that there would be an increase in involvement and participation from Canadian infrastructure industry in India's ambitious National Highways and the Expressways Development Project. Acknowledging that India has to travel a long distance before coming up with a full Intelligent Transport System, Minister Joshi emphasized that Canadian expertise in these areas will enable us to achieve the goal through enhanced cooperation, technology transfer and capacity building programmes under the MoU signed between the two countries. Source: Times of India Canada's Natural Resources: A Pillar of Indo-Canada Trade Speaking at the Indo-Canada Chamber of Commerce's annual awards ceremony and gala on June 9th, the Honorable Joe Oliver, Minister of Natural Resources, highlighted the importance of the natural resource sectors in bilateral trade and collaboration with India. "Given that one in five jobs and more than 60 per cent of Canada's economy depend on trade, deepening our trade partnership with India is vital to Canada's economic growth," stated Minister Oliver. "As India's need for energy, minerals, metals and wood products increases, Canada is well positioned to be a key supplier." Natural resources already

comprise half of all Canada's exports to India. Canadian exports to India have increased over 26 per cent last year, and that number is expected to rise as India's economy is expected to remain among the fastest growing in the world. Canada is building strong ties with India to share science, technologies and trade through the Canada-India Energy Forum, memorandums of understanding and our annual bilateral merchandise trade agreements. Source: Natural Resources Canada Trade between India and Ontario up 13% Trade between India and Ontario, Canada's richest and most multi-cultural province, grew by 13 per cent last year, Ontario's Minister of Economic Development Brad Duguid said. "The two-way trade between Ontario and India was $1.81 billion in 2011, showing a growth of 13 per cent in one year," he said, addressing visiting senior Civil Service officials from India and Sri Lanka at a function organised by the Indo-Canada Chamber of Commerce. Over 112 senior IAS officers were in Toronto on a study tour at the Institute of Public Administration of Canada. It was the second such programme organised by the institute to strengthen institutional linkages between India and Canada. Duguid said, "In the 21st century, Ontario is a trading jurisdiction whose long-term prosperity depends on its strong relations with its trading partners. Trade between India and Ontario continues to grow and is becoming increasingly important to both our countries." The government would lead three sector-specific missions to India later this year with focus on infrastructure, clean technology, and telecommunications. With $6.6 billion invested in Canada, Indian businesses have established a huge presence in a variety of sectors, he said." Source: Press Trust of India Canadas top firms mulling entry into India Leading food processing companies and restaurant chains from Canada are planning to start their manufacturing operations from Gujarat to enter the Indian market. While Agropur co-operative is mulling an entry into Gujarat next year, Cafe Supreme, an upscale bistro with over 100 locations in Canada is planning to set up base in the state. Canadian manufacturer of bottled water, Canadian Gold Beverages, based in Manitoba, plans to introduce India to its range of naturally flavoured water through a facility in Gujarat. Toronto-headquartered food processing giant McCain already has a plant at Mehsana in Gujarat. The company came to Gujarat over a decade ago, first focusing on agricultural research in Gujarat and then entering the fast-food market with its ubiquitous French fries. Other areas in food business where Canadian companies are looking at investing in Gujarat are ready-to-eat foods, processed dairy products, beverages, packaged products, sorting and packaging centres, storage facilities, cold chain equipment, merchandise transportation and preservation. The companies, which are a member of Indo-Canadian Business Chamber, have shown interest in investing in Gujarat. Source: The Times of India IRD announces new Contract in India valued at CDN $1.7 Million International Road Dynamics Inc. announced that its wholly-owned subsidiary, International Road Dynamics South Asia Pvt. Ltd. (IRDSA), has been awarded a major contract from Reliance Infrastructure Limited in India valued at approximately CDN $1.7 6

Million. The contract award for the prestigious Gurgaon Faridabad expressway in the state of Haryana in India spans over 50 lanes across 4 toll plazas, and includes 12 lanes of electronic toll collection using radio frequency identification readers and transponders as well as 4 static weigh bridges in addition to reversible lanes on each plaza. IRDSA's solution will also include the provision of interoperability over the 4 toll plazas on this expressway. IRD is a highway traffic management technology company specializing in supplying products and systems to the global Intelligent Transportation Systems (ITS) industry. IRD is a North American company based in Saskatoon, Saskatchewan Canada with sales and service offices throughout the United States and overseas.
Source: Marketwire Canada

Canada's Western Potash woos China, India investors Western Potash Corp. hopes to find a partner from India or China or by year's end to pay for its proposed 2.8-million tonne Canadian potash mine, but preferably not through an outright takeover, the junior miner's Chief Executive said. Western is one of several remaining junior potash companies in the western Canadian province of Saskatchewan, where the field is crowded with mining majors keen on cashing in on the crop nutrient's bullish outlook. Canada accounts for nearly half of the world's potash reserves, mostly in Saskatchewan. With world population growth expected to soar to 9 billion by 2050, boosting the need for food production, and incomes rising in top potash consumers China and India, the existing big players Potash Corporation of Saskatchewan Inc.), Mosaic Co. and Agrium Inc. are busy expanding their Saskatchewan mines. Western is in talks with several potential Chinese and Indian investors, including miners, co-operatives and fertilizer distributors, Western Potash CEO Patricio Varas said. Source: Reuters SICIs French Canadian Context Conference in India: June 11-12 An education delegation from Quebec participated in the Engaging Canada- Engaging India: The French Canadian Context conference in Pondicherry organized by the Shastri Indo Canadian Institute in association with the University of Pondicherry. A roundtable on Quebec-India education collaboration at the conference examined policies and trends in higher education, education alignments and research collaborations with a particular focus on the francophone sphere. Source: Consulate General of Canada, Chandigarh Ivey India in expansion mode Canada-based Richard Ivey School of Business (Ivey), which provides company-specific customised executive education programmes, is planning to start a consortium executive programme in India. The programme, which Ivey claims to be a first-of-its-kind initiative by any B-school in India, offers tailored courses to a number of companies at one go to cater to their requirements. This consortium method is very popular abroad, while it is new to India. We will soon start our first programme in Mumbai by taking five companies from the financial vertical, said Ariff Kachra, Strategy Professor and Managing Director, Ivey India. Ivey has been working with 200 corporations in India to provide executive education to the middle and senior level managers. It has already developed 35 such programmes, which are expected to be implemented in the coming years, he said. Recently, it has completed this tailored programme for Aircel and Gail 7

Limited. The duration of the tailored programme varies from six to 18 months, depending on the company requirement, with a per day fee of between $15,000 and $25,000.
Source: Business Standard

Minister of External Affairs visited Toronto Mr. S.M. Krishna, Honble Minister of External Affairs visited Toronto from June 17-18, 2012. In Toronto he addressed the media at a press conference and a reception was hosted in his honor by the Consulate General of India and the Indo-Canada Chamber of Commerce. Around 200 eminent Indo-Canadians attended the reception. India keen to accelerate economic ties with Canada: Krishna India is keen to accelerate economic ties with Canada as both countries are working on a number of bilateral agreements that will boost trade and investment between them, External Affairs Minister S M Krishna said. "We are discussing other instruments to further facilitate greater trade and commerce including a Comprehensive Economic Partnership Agreement," Minister Krishna said after a meeting with his counterpart Canadian Foreign Affairs Minister John Baird, who hosted a dinner in his honor in Toronto on June 17. "Both countries reviewed the entire gamut of bilateral relations and agreed on further strengthening the relationship as there are exciting opportunities for trade and investment," he said, adding that Prime Minister Stephen Harper will visit India soon. The minister, who was in Toronto for a two-day stopover visit after wrapping up his visit to the United States and Cuba, invited Minister John Baird to visit India. Minister Baird has accepted the invitation. The proposed Bilateral Foreign Investment Promotion and Protection Agreement (FIPPA) that aimed at protecting and promoting foreign investment through legally-binding rights and obligations would become reality soon. Source: Press Trust of India IFFCO to set up $800 million urea plant in Canada IFFCO, India's largest fertilizer company, will invest $800 million to set up a urea plant in Canada where it can dip into cheap and abundant supply of natural gas and boost supplies for the country, which is a large importer of farm nutrients. The 1.25-milliontonne plant is likely to be built in three-to-four years, IFFCO Managing Director U.S. Awasthi said. We expect to finalize the location in the next 2-3 months. Then we will have to get an environmental clearance which takes around 18 months. It will be a joint venture with a Canadian partner through an IFFCO- led consortium of companies," he said. IFFCO is in talks with a few Canadian provinces to finalize the location, he added. India imports a quarter of urea it consumes, 100% of potash fertilizers and almost 70% of DAP consumed annually. The company plans to tie up with a shale gas company for sourcing natural gas which constitutes 70-80% of the production cost. Shale gas production has led to a sharp fall in natural gas prices in America, where gas is traded at less than $3 a unit. Source: Economic Times Canada Embarking on Important Journey with India

The importance of building our relationship with Asia is very much on Canadians radar according to the Asia Pacific Foundation of Canadas 2012 National Opinion Poll of Canadian Views on Asia. In this poll conducted by Angus Reid consisting of some 3000 interviews, fully 55% agree that strengthening economic and political relationships with Asia should be Canadas top foreign policy priority. The case of India is illustrative, 57% perceive economic opportunities with India, a rise of 5 points from the 2011 survey. The economic impact is already evident. Saskatchewans trade with India is remarkable, the province accounts for one-third of Canadas exports to India. Indian investment in Canada, manufacturing alliances, technology to biopharma, among other sectors, provides a much wider perspective of future possibilities. The recent launch of negotiations of the comprehensive economic partnership agreement (CEPA) is another positive sign. The target date of completion is 2013. The demographic dividend in India with almost half of the 1.2 billion under the age of 25- presents an excellent opportunity for Canadian universities and colleges. Source: Asia Pacific Foundation of Canada Orbite Aluminae signs MOU with Nalco of India Montreal-based Orbite Aluminae Inc. announced that it has entered into a non-binding Memorandum of Understanding (MOU) with India-based National Aluminium Company Limited (Nalco). Orbites technology, which focuses on extracting metallurgical-grade alumina from aluminous clay, will be evaluated on Nalcos ores. Nalco is a manufacturer and distributor of aluminum products, and its focus includes bauxite mining, alumina refining, aluminium smelting and casting, power generation, rail and port operations.
Source: Orbite Aluminae Inc. Press Release

Royal LePage launches new partnership connecting Canadian buyers to real estate opportunities in India Royal LePage announced its partnership with Godrej Properties to help Canadians and non-resident Indians (NRIs) invest in India's growing real estate market. "Godrej Properties is a subsidiary of Godrej Group, a well known and trusted organization in India with 116 years of experience," said Phil Soper, President and Chief Executive, Royal LePage. "It is important for Godrej Properties to have a strong and experienced partner to extend our project portfolio to Canada," said Mr. Pirojsha Godrej, Managing Director and CEO, Godrej Properties. "Royal LePage's trusted name and national reach made them our preferred choice. This partnership will help us connect with the Indian community across Canada." In addition to several completed landmark projects, Godrej Properties is currently developing significant projects in 12 cities across India including Ahmedabad, Bangalore, Chennai, and Kolkata offering luxurious living spaces with world class amenities. Source: Newswire Reliance Broadcast launches TV channel in Canada On June 21, Reliance Broadcast Network Ltd (RBNL) said it has launched a TV channel in Canada as part of expansion in overseas markets. RBNL said it has introduced BIG Magic International that will cater to South Asian diaspora in Canada and it will also be launched soon in the US and Australia. "The company has partnered with Ethnic Channels Group (EGC), a Canada-based television broadcasting, distribution and 9

communications company," RBNL said in a statement. With ECG as its exclusive representative in Canada, BIG Magic International will be available across all major platforms like Rogers Cable, Bell DTH and Bell Fibe, it said. "The channel will reach a relevant audience base of 0.2 million across these platforms. The revenue model is based on subscription and ad-sales," it said. It will also show three 30-minute updates each day with the latest news from the Indian capital markets from Bloomberg UTV India. According to RBNL, the South Asian population in Canada is 1.2 million and makes for 5% of the population of the country. Source: Press Trust of India University of Guelph and developing-country scientists awarded CA$2.3M to cut fruit losses in India and Sri Lanka using nanotechnology Scientists from the University of Guelph, led by Jayasankar Subramanian, have teamed up with researchers from the Tamil Nadu Agricultural University in India, and the Industrial Technology Institute in Sri Lanka, to develop an innovative packaging system that uses state-of-the-art nanotechnology to reduce post-harvest losses in mangoes, a vital fruit crop in South Asia. The CA$2.3 million project, announced on June 20th, by Canada's International Development Research Centre (IDRC) and the Canadian International Development Agency (CIDA), in cooperation with the University of Guelph, will improve the livelihoods of nearly one-third of India's and Sri Lanka's population, most of whom are small-scale farmers. The project is one of six new projects funded by IDRC and CIDA under the Canadian International Food Security Research Fund (CIFSRF). A five-year, CA$62 million dollar initiative, CIFSRF brings Canadian and developing-country researchers together to produce lasting solutions to hunger and food insecurity in the developing world. Source: Canada News Wire RIM back in competition in India with a luxury handset, BlackBerry Porsche P9981 Research In Motion claims to top industry growth this year in India with the launch of its new handset BlackBerry Porsche P-9981 priced at $2,468. The company launched the device in assistance with Porsche design. RIM is presently behind Nokia and Samsung in the market with just 15 percent of smartphone market share. Nokia is the market leader with 38 percent followed by Samsung with 28 percent. According to reports, RIM India Managing Director Sunil Dutt said that the phone is about power, style and aspiration. They will not be selling this through the traditional channels. The device features a stainless steel frame hand-wrapped leather back cover, sculpted Qwerty keyboard, and crystal clear touch display. It also has an exclusive PIN that easily identifies the user as holder of this phone. It is incorporated with a 1.2 GHz processor and liquid graphics technology, HD video recording, 24-bit high resolution graphics, advanced sensors, and built-in support for near field communications)apart from 8 GB of on-board memory, expandable to up to 40 GB with a microSD card. Source: Wireless Federation

CORPORATE NEWS
New Canadian ETF the first to tap into U.S. hedge funds

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Canadas first exchange-traded fund tracking the performance of top-ranked U.S. hedge funds gives retail investors in the country access to some of the best minds and alternative strategies in the business, but its not quite the real thing and it doesnt come cheap compared to other ETFs, analysts say. The Horizons Morningstar Hedge Fund Index ETF launched in April is a low-volatility alternative for investors looking to expand their market exposure beyond stocks and bonds that should usher in a wave of similar hedging products that were previously reserved for the wealthiest corners of the market. The new Horizons ETF uses a synthetic index Morningstar Nexus Hedge Fund Replication index to track the Morningstar Broad Hedge Fund Index, an assetweighted index consisting of highly liquid U.S. dollar-denominated hedge funds. The MBHF index has 543 hedge fund constituents that utilize varying hedge strategies such as global trend and diversified arbitrage. Source: Financial Post Ontario Teachers Pension Plan acquires 9.9% stake in Kyobo Life Insurance of South Korea The Ontario Teachers Pension Plan (OTPP) announced the completion of its acquisition of a 9.9% stake in South Korea-based Kyobo Life Insurance Co. Ltd. (Kyobo). OTPP is acquiring the stake from Korea Asset Management Corporation (KAMCO) for approximately US$400 million. Kyobo is a privately held company that offers life insurance products to its 4.5 million retail customers. OTPP invests the pension funds assets and administers the pensions of 300,000 active and retired teachers in Ontario. KAMCO is a Korean quasi governmental entity established to restructure corporations, manage state-owned properties and collect overdue taxes.
Source: Ontario Teachers' Pension Plan Press Release

Bombardier CEO says Ontario needs to innovate to reverse manufacturing slump The CEO of Bombardier Inc. believes that with some innovation, Ontario can turn around a slump in its manufacturing sector, adding that his company has enough work orders to maintain staffing levels at its plants in the province. Mr. Pierre Beaudoin said that Ontario's manufacturing base has been seriously eroded by a strong Canadian dollar, uneven demand south of the border and the low cost of labour in emerging markets. Bombardier first invested in the province through the purchase of de Havilland and the Urban Transportation Development Corp. in 1992.As for the Montreal-based manufacturer's presence in Ontario, Beaudoin said there is "absolutely" enough work to keep its more than 6,000 Ontario workers employed at plants in Thunder Bay, Kingston, North Bay, Toronto and Mississauga. Bombardiers Global 5000 and Global 6000 aircraft are made in Toronto, Montreal, Belfast and Mexico. He added that its Toronto plant will take care of final assembly of its new Global 7000 and Global 8000 business jets. Source: The Canadian Press Bombardier sells twelve aircraft that will be leased to Garuda Indonesia Bombardier Aerospace, a Montreal-based plane and train manufacturer, announced that a wholly-owned subsidiary of Denmark-based Nordic Aviation Capital A/S has signed a firm purchase agreement for twelve CRJ1000 NextGen aircraft, which will be leased to Garuda Indonesia, an Indonesia-based airline. Based on the list price of the CRJ1000 11

NextGen aircraft, the firm order is valued at approximately US$595 million. The CRJ1000 NextGen aircraft is designed for high-frequency regional markets.
Source: Bombardier Aerospace Press Release

Aecon starts construction on Toronto airport rail link Aecon Group Inc. has started construction on the $128.6-million Air Rail Link in Toronto and company officials suggest public transit and other transportation projects are lucrative for the Toronto-based general contractor. The Air Rail Link includes a threekilometre elevated track that will carry trains from Lester B. Pearson International Airport to an existing rail line formerly owned by Canadian National Railway Co. and recently sold to Metrolinx, the Ontario transit agency whose operations include the GO Transit commuter train and bus services. The intent is to provide train service every 15 minutes between the airport and Union Station in downtown Toronto.
Source: Daily Commercial News

BCE and funds buy Q9 Networks for $1.1-billion Canadas biggest telecommunications company, BCE Inc, has joined with a group of private equity fund managers to buy data center company Q9 Networks Inc for $1.1 billion. Toronto-based Q9 is one of Canadas largest outsourced data centre operators and will be run as an independent company under current management after the deal closes, BCE said. Under the terms of the deal, BCE will pay $180 million and Ontario Teachers Pension Plan, Providence Equity Partners LLC and Madison Dearborn Partners LLC will contribute $420 million of the equity funding. Newly-committed debt financing from Q9 will also help fund the purchase, which is expected to close before the end of 2012. Q9 has 11 data centres and offers co-location, bandwidth, dedicated servers, firewalls, load balancing, virtual private networking (VPN) and back-up/restore capabilities to protect and manage customer data remotely. Source: Reuters Microsoft to open retail store at Yorkdale, its first in Canada Microsoft will open its first retail location in Canada at Yorkdale. Recently, the technology giant announced it would begin selling its new Surface tablet later this year, to compete with Apples iPad. Building permit notices reveal Microsoft has also been approved to build a store in the Yorkdale shopping centre. Apple already has a retail location at Yorkdale, one of 23 across Canada. Microsoft has 25 stores in the U.S., six in California. Microsoft officials said the Surface would only be sold through Microsoft channels later this year. Source: Toronto Star Minister of External Affairs visited Toronto Mr. S.M. Krishna, Honble Minister of External Affairs visited Toronto from June 17-18, 2012. In Toronto he addressed the media at a press conference and a reception was hosted in his honor by the Consulate General of India and the Indo-Canada Chamber of Commerce. Around 200 eminent Indo-Canadians attended the reception. India keen to accelerate economic ties with Canada: Krishna

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India is keen to accelerate economic ties with Canada as both countries are working on a number of bilateral agreements that will boost trade and investment between them, External Affairs Minister S M Krishna said. "We are discussing other instruments to further facilitate greater trade and commerce including a Comprehensive Economic Partnership Agreement," Minister Krishna said after a meeting with his counterpart Canadian Foreign Affairs Minister John Baird, who hosted a dinner in his honor in Toronto on June 17. "Both countries reviewed the entire gamut of bilateral relations and agreed on further strengthening the relationship as there are exciting opportunities for trade and investment," he said, adding that Prime Minister Stephen Harper will visit India soon. The minister, who was in Toronto for a two-day stopover visit after wrapping up his visit to the United States and Cuba, invited Minister John Baird to visit India. Minister Baird has accepted the invitation. The proposed Bilateral Foreign Investment Promotion and Protection Agreement (FIPPA) that aimed at protecting and promoting foreign investment through legally-binding rights and obligations would become reality soon. Source: Press Trust of India IFFCO to set up $800 million urea plant in Canada IFFCO, India's largest fertilizer company, will invest $800 million to set up a urea plant in Canada where it can dip into cheap and abundant supply of natural gas and boost supplies for the country, which is a large importer of farm nutrients. The 1.25-milliontonne plant is likely to be built in three-to-four years, IFFCO Managing Director U.S. Awasthi said. We expect to finalize the location in the next 2-3 months. Then we will have to get an environmental clearance which takes around 18 months. It will be a joint venture with a Canadian partner through an IFFCO- led consortium of companies," he said. IFFCO is in talks with a few Canadian provinces to finalize the location, he added. India imports a quarter of urea it consumes, 100% of potash fertilizers and almost 70% of DAP consumed annually. The company plans to tie up with a shale gas company for sourcing natural gas which constitutes 70-80% of the production cost. Shale gas production has led to a sharp fall in natural gas prices in America, where gas is traded at less than $3 a unit. Source: Economic Times Canada Embarking on Important Journey with India The importance of building our relationship with Asia is very much on Canadians radar according to the Asia Pacific Foundation of Canadas 2012 National Opinion Poll of Canadian Views on Asia. In this poll conducted by Angus Reid consisting of some 3000 interviews, fully 55% agree that strengthening economic and political relationships with Asia should be Canadas top foreign policy priority. The case of India is illustrative, 57% perceive economic opportunities with India, a rise of 5 points from the 2011 survey. The economic impact is already evident. Saskatchewans trade with India is remarkable, the province accounts for one-third of Canadas exports to India. Indian investment in Canada, manufacturing alliances, technology to biopharma, among other sectors, provides a much wider perspective of future possibilities. The recent launch of negotiations of the comprehensive economic partnership agreement (CEPA) is another positive sign. The target date of completion is 2013. The demographic dividend in India with almost half of the 1.2 billion under the age of 25- presents an excellent opportunity for Canadian universities and colleges. Source: Asia Pacific Foundation of Canada

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Orbite Aluminae signs MOU with Nalco of India Montreal-based Orbite Aluminae Inc. announced that it has entered into a non-binding Memorandum of Understanding (MOU) with India-based National Aluminium Company Limited (Nalco). Orbites technology, which focuses on extracting metallurgical-grade alumina from aluminous clay, will be evaluated on Nalcos ores. Nalco is a manufacturer and distributor of aluminum products, and its focus includes bauxite mining, alumina refining, aluminium smelting and casting, power generation, rail and port operations.
Source: Orbite Aluminae Inc. Press Release

Royal LePage launches new partnership connecting Canadian buyers to real estate opportunities in India Royal LePage announced its partnership with Godrej Properties to help Canadians and non-resident Indians (NRIs) invest in India's growing real estate market. "Godrej Properties is a subsidiary of Godrej Group, a well known and trusted organization in India with 116 years of experience," said Phil Soper, President and Chief Executive, Royal LePage. "It is important for Godrej Properties to have a strong and experienced partner to extend our project portfolio to Canada," said Mr. Pirojsha Godrej, Managing Director and CEO, Godrej Properties. "Royal LePage's trusted name and national reach made them our preferred choice. This partnership will help us connect with the Indian community across Canada." In addition to several completed landmark projects, Godrej Properties is currently developing significant projects in 12 cities across India including Ahmedabad, Bangalore, Chennai, and Kolkata offering luxurious living spaces with world class amenities. Source: Newswire Reliance Broadcast launches TV channel in Canada On June 21, Reliance Broadcast Network Ltd (RBNL) said it has launched a TV channel in Canada as part of expansion in overseas markets. RBNL said it has introduced BIG Magic International that will cater to South Asian diaspora in Canada and it will also be launched soon in the US and Australia. "The company has partnered with Ethnic Channels Group (EGC), a Canada-based television broadcasting, distribution and communications company," RBNL said in a statement. With ECG as its exclusive representative in Canada, BIG Magic International will be available across all major platforms like Rogers Cable, Bell DTH and Bell Fibe, it said. "The channel will reach a relevant audience base of 0.2 million across these platforms. The revenue model is based on subscription and ad-sales," it said. It will also show three 30-minute updates each day with the latest news from the Indian capital markets from Bloomberg UTV India. According to RBNL, the South Asian population in Canada is 1.2 million and makes for 5% of the population of the country. Source: Press Trust of India University of Guelph and developing-country scientists awarded CA$2.3M to cut fruit losses in India and Sri Lanka using nanotechnology Scientists from the University of Guelph, led by Jayasankar Subramanian, have teamed up with researchers from the Tamil Nadu Agricultural University in India, and the 14

Industrial Technology Institute in Sri Lanka, to develop an innovative packaging system that uses state-of-the-art nanotechnology to reduce post-harvest losses in mangoes, a vital fruit crop in South Asia. The CA$2.3 million project, announced on June 20th, by Canada's International Development Research Centre (IDRC) and the Canadian International Development Agency (CIDA), in cooperation with the University of Guelph, will improve the livelihoods of nearly one-third of India's and Sri Lanka's population, most of whom are small-scale farmers. The project is one of six new projects funded by IDRC and CIDA under the Canadian International Food Security Research Fund (CIFSRF). A five-year, CA$62 million dollar initiative, CIFSRF brings Canadian and developing-country researchers together to produce lasting solutions to hunger and food insecurity in the developing world. Source: Canada News Wire RIM back in competition in India with a luxury handset, BlackBerry Porsche P9981 Research In Motion claims to top industry growth this year in India with the launch of its new handset BlackBerry Porsche P-9981 priced at $2,468. The company launched the device in assistance with Porsche design. RIM is presently behind Nokia and Samsung in the market with just 15 percent of smartphone market share. Nokia is the market leader with 38 percent followed by Samsung with 28 percent. According to reports, RIM India Managing Director Sunil Dutt said that the phone is about power, style and aspiration. They will not be selling this through the traditional channels. The device features a stainless steel frame hand-wrapped leather back cover, sculpted Qwerty keyboard, and crystal clear touch display. It also has an exclusive PIN that easily identifies the user as holder of this phone. It is incorporated with a 1.2 GHz processor and liquid graphics technology, HD video recording, 24-bit high resolution graphics, advanced sensors, and built-in support for near field communications)apart from 8 GB of on-board memory, expandable to up to 40 GB with a microSD card. Source: Wireless Federation NetJets to purchase Bombardier, Cessna business jets in US$9.6B deal NetJets, a private jet-sharing company owned by Warren Buffetts Berkshire Hathaway Inc., said it would buy up to 425 new business jets from Bombardier Inc. and Cessna in a deal worth US$9.6-billion to expand its North American and European fleet. The purchase, which NetJets described as the largest in private aviation history, includes up to 275 Bombardier Challenger business aircraft, the second time in 15 months that NetJets has placed a large order with the Canadian planemaker. The Bombardier portion of the order, which is valued at US$7.3-billion, is made up of 100 firm orders on two different types of Challenger jets, and options for 175 more, NetJets said. Deliveries of the different jets will start in 2014 and 2015. This is a very sizable order, said PI Financial airlines analyst Chris Murray. Bombardiers aerospace group usually does about $10billion a year. This will be several years worth of business, he said. Source: Reuters Sprott set to acquire Flatiron Sprott Inc. announced plans to buy hedge fund Flatiron Capital Management Partners which would expand its specialty fixed income assets under management to more than $800-million. Sprott said it has signed a letter of intent to acquire Toronto-based Flatiron, 15

an alternative investment manager that specializes in market-neutral strategies with $275million in assets under management. The acquisition is subject to approval by regulators and Sprotts board of directors. The companies are planning to close the transaction in the third quarter of 2012. Source: Financial Post

FORTHCOMING EVENTS IN CANADA

Oil Sands and Heavy Oil Technologies: (July 24-26, 2012, Telus Convention Centre, Calgary): is important and growing source of oil supply as well as a vital breeding ground for production and environmental technology. It provides a platform to share ideas, experiences, technology, and expertise with major industry players who must react quickly to the rapid expansion. (www.biztradeshows.com) Ontario Social Media Marketing Conference: (September 14, 2012, Doubletree by Hilton Airport Hotel) : The conference will include sessions like marketing in a social world, the key to social media success, measuring whats really important- your return on investment (www.skillpath.ca) Demo International 2012: (September 20-22, 2012, Saint Raymond, Quebec): has evolved into one of North Americas largest and unique outdoor equipment shows. It will attract over 150 exhibitors featuring the latest technologies in equipment, products and services covering all aspects of woodlands operations, from silviculture and harvesting practices, road construction, biomass harvesting, recovery and transportation systems, to private woodland management. (www.demointernational.com) Advanced Manufacturing Expo 2012: (September 25-26, 2012, Mississauga): is Canadas only comprehensive manufacturing event where industry professionals can compare advanced technology solutions from both capital equipment and service suppliers alongside contract manufacturing providers. (www.sme.org) World Congress on Information Technology 2012 : (October 22-24, 2012, Palais des Congrs de Montral): will be a fast-paced three-day conference featuring more than 100 high-profile speakers and attracting up to 3,000 delegates and 300 media from more than 80 countries. The conference's objective is to impact economic and social development through the exchange of policies, practices, trends and ideas on ICT and it will feature topics that discuss ICT`s role in the economy, environment, government, healthcare, education and mobility. (www.wcit2012.org) Medical Manufacturing Innovations: (October 24-25, 2012, International Centre, Mississauga): will connect medical and dental device manufacturers with companies that supply the technology and equipment they need to improve quality, innovation and speed to market. In addition, special programming at the event brings knowledge based solutions to manufacturers as well as key industry connections at value-added, focused sessions. (www.sme.org/canmedical.aspx) Health Achieve: (November 5-7, 2012, Metro Toronto Convention Centre): is the largest and most prestigious health care gathering in North America. HealthAchieve aims

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to inspire ideas and innovation with over 50 informative and engaging educational sessions and where close to 300 exhibitors showcase the latest health care products, services and technologies. (www.healthachieve.com) Quebec Mines 2012: (November 26-29, 2012, Quebec City Convention Centre): will bring together all the stakeholders in mineral resource development in Qubec. The trade show will also feature a geoscientific exhibition and include participation from several government partners. The meeting will include more than 50 conferences. (www.quebecmines.mrnf.gouv.qc.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)

BUSINESS OFFERS FOR INDIAN COMPANIES

1. Autobahn International Ltd. London, Ontario Phone: 519-964-2766 Email: derek@autobahn.co.uk Website: www.autobahn.co.uk Looking for automobile distributors, car dealers and importers for tie ups for exclusive luxury automobiles

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Asantcology Brands Inc. Markham, Ontario Phone: 905 294 4667 Email: gakasant@rogers.com N2 Towers Inc. Phone:613-962-2401 E: mary-ellen.britton@n2towers.com Website: www.n2towers.com

Looking for exporters of grapes

Looking for producers of Sodium Azide Powder (CAS # 26628-22-8). Pricing quotes for: 5,000 pounds 10,000 pounds

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and 20,000 pounds Purity 99.5% minimum

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