10/4/08

401 k Plan

 






Retirement plans compared....
 
If you had purchased $1,000.00 of Nortel stock one year ago, it would  now be worth $49.00.  With Enron, you would have $16.50 left and with WorldCom, you would have less than $5.00 left of the original $1,000.
 
Had you purchased $1000.00 of Delta Air Lines stock you would have $49.00 left and had it been United Airlines, you would have nothing left.
 
But, if you had purchased $1,000.00 worth of beer one year ago, drank all the beer, then returned the cans for your 5 cent recycling deposit, you would have $214.00.
 
Based on the above analysis, the best current investment advice is to drink heavily and recycle.  This is called the 401-Keg Plan.
 
 
 

 





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Image du jouravec


Manifestation d'Amnesty International pour la paix au Darfour - Photo :

Le 25 septembre 2008, New York, Etats-Unis.

Amnesty International appelle le Conseil de sécurité à ne pas demander la suspension des procédures de la CPI à l'égard du président du Soudan. L'ONG demande également le déploiement intégral de la mission onusienne au Darfour (MINUAD).







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Tories won't win big cities, ex-aide says

From Saturday's Globe and Mail

The Conservatives have only the bare outlines of a campaign urban strategy and have virtually written off Toronto and Montreal as fertile electoral ground, Stephen Harper's former chief of staff told a political science seminar at University of Toronto this week.

Ian Brodie, a political science professor who ran the Prime Minister's Office for Mr. Harper until the end of June, also said he did not think the Conservatives would win a majority government.

Dr. Brodie's seminar comments were confirmed by three political scientists who attended his talk.

He did not respond to e-mail and telephone requests from The Globe and Mail to discuss what he said.

Dr. Brodie said the party had worked out a campaign strategy for the suburbs and exurbs around cities such as Montreal and Toronto.

In the 2006 election campaign, he said the Conservatives appealed successfully to men in Ontario's 905 and 519 telephone area codes – the outer Toronto suburbs and the heavily populated southwestern province – and this time were trying to target their spouses and daughters.

He said one of the party's prime target voters were suburban or exurban men who work in sales or service industries and have large families.

But he acknowledged the party had no core-city strategy in 2006 and only the beginnings of one in this campaign. He indicated the Conservatives would be shut out of Montreal but might win one or two constituencies in Toronto because of Mr. Harper's stand in the 2006 Israeli-Lebanese conflict.

He predicted that a large voter turnout would benefit the Conservatives, which flies in the face of conventional wisdom that a large turnout is an anti-government protest.

University of Toronto political scientist Lawrence LeDuc, one of Canada's leading vote analysts, said experts are predicting a low turnout on voting day, in large part because the election is not seen as competitive. A Conservative victory has been predicted from the outset of the campaign.

The participation rate was 64 per cent in 2006 – up somewhat from the 2004 and 2000 elections – precisely because it was seen as a competitive election.

In any case, Dr. LeDuc said, a substantial rise in the participation rate would likely have to come from more young people voting, and young people as a demographic are not considered nominal Conservative supporters.

One possibility is that Dr. Brodie was referring to the Conservatives' newfound skill at targeting people who are Conservative supporters but don't vote – a phenomenon noted in this campaign by political analysts.

His prediction that the party would fall short of a majority has been echoed by several political scientists and indicated by Strategic Counsel polls of the 45 so-called battleground ridings in British Columbia, Ontario and Quebec.

Support for Conservative candidates in the 15 most contested ridings in Quebec has dropped by 10 percentage points, to 22 per cent from 32 per cent, since the campaign began.

In the 20 tightest races in Ontario, support for Conservative candidates in the 905 ridings has strengthened to 47 per cent from 40 per cent but dropped in 519 ridings to 36 per cent from 46 per cent. And in B.C. battleground ridings, support for Conservative candidates has increased only slightly to 42 per cent from 41 per cent.

The Conservatives were 28 seats short of a majority when Parliament was prorogued for the election campaign





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Dems ruled not biased in 'Troopergate'
Judge kills lawsuit against Obama donors in Palin review

Posted: October 04, 2008
12:00 am Eastern

By Chelsea Schilling
© 2008 WorldNetDaily

A judge has ruled the actions of three "Troopergate" lawmakers, including a financial supporter of Sen. Barack Obama, have not risen to the level of appearance of bias against Gov. Sarah Palin, but representatives of Liberty Legal Institute say they fully intend to appeal the decision.

A legislative team has been reviewing Palin for her removal of Walt Monegan, the former commissioner of the Alaska Department of Public Safety, after some say she fired him for refusing to terminate employment of a state trooper who was in the process of divorcing Palin's sister.

However, Palin claims Monegan failed to comply with a state budgetary plan and became insubordinate. She said she never ordered Monegan to fire the trooper.

The lawsuit filed Sept. 16 in the 3rd Judicial District at Anchorage by Liberty Legal Institute sought to stop the investigation because "the investigators have lost the appearance of impartiality required under the Alaska Constitution."

The suit alleges the Alaska Legislative Council inquiry, led by Sens. Hollis French and Kim Elton, with Stephen E. Branchflower as an investigator, violated state law because it was being used to further partisan politics and "smear" Palin.

"The partisan actions of Sen. French, Sen. Elton and Branchflower have tainted the investigation beyond the appearance of impartiality required under the Alaska Constitution," said Kevin Clarkson, of the firm Brena, Bell, & Clarkson and counsel in the suit.

According to the lawsuit, the investigation is being led by Obama supporters, and Elton donated $2,000 to the Obama campaign, then failed to disclose the gift to the Legislative Council.

"He continues to preside over the investigation despite his apparent personal political interest in the outcome of the investigation," the claim said. "Sen. French, the 'investigation project manager,' failed to disclose the comments he had made on a radio program criticizing Gov. Palin's termination of Monegan as 'criminal' prior to being appointed as the 'investigation project manager' and even prior to a vote to investigate at all."

And, the suit said, "Branchflower, the lead investigator, is alleged to be a personal friend of Monegan."


Hiram Sasser, director of litigation at Liberty Legal Institute and co-counsel in the case, said, "No government official should be allowed to abuse their power to advance their political or personal agenda for a smear campaign in violation of the constitutional guarantees of a fair and impartial investigation."

As WND reported, Sasser said state legislators were not as motivated to pursue the case before Palin was chosen to be Sen. John McCain's vice-presidential running mate. But things quickly changed.

"Elton has an interest. He has something that could affect his impartiality," Sasser said. "French has been going around making all kinds of (prejudicial) statements about evidence, saying there will be an October surprise."

"Under the Alaska Constitution, everyone deserves the appearance of a fair and impartial investigation," Sasser said.

Liberty Legal Institute sought to end partisan favoritism in the investigation and ban French, Elton and Branchflower from involvement. However, Judge Peter A. Michalski ruled today that while the court may duly enforce the due process clause against a legislative investigation, their actions have not risen to the level of the appearance of bias. He denied the temporary restraining order and dismissed the lawsuit.

"This decision is dangerous because it robs every Alaskan of the protection specifically provided by the Alaska Constitution," said Kevin Clarkson, lead counsel for the Alaska legislators and partner at Brena, Bell, & Clarkson.

Hiram Sasser, director of litigation at Liberty Legal Institute and co-counsel in the case, released a statement saying, "We hope the Alaska Supreme Court will see that while some may benefit from this judicial abdication of its responsibility to protect the freedoms of all Alaskans, it poses a great danger to any future target of an unfair and biased investigation."

Kelly Shackelford, chief counsel at Liberty Legal Institute and co-counsel in the case, warned, "It may be the governor today, but it could be you tomorrow."

Firm representative Jennifer Grisham said Liberty Legal Institute will appeal the decision. They also noted Judge Michalski is the same judge who ruled in 1998 that same-sex marriage is a fundamental right. Alaska voters overruled his decision by approving a constitutional amendment.







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NE JAMAIS MENTIR AUX ENFANTS


NE JAMAIS MENTIR AUX ENFANTS


Un jeune homme se fait bronzer nu à la plage, lorsqu'une fillette s'approche de lui.
Il se couvre le sexe avec un journal et la petite fille lui demande: - "qu'est-ce que tu as de caché sous ton journal"?
Décontenancé, l'homme réfléchit et répond rapidement:
- "Un oiseau".

La fillette s'éloigne et l'homme s'endort. Il se réveille en douleur à l'hôpital. La police lui demande ce qui s'est passé.
Il répond: - "J'étais étendu sur la plage, une fillette s'est approché, m'a parlé, s'est éloignée et ensuite je me suis endormi. A mon réveil, j'étais à l'hôpital".

La police se rend sur la plage, retrouve la fillette et lui demande ce qu'elle a fait à l'homme nu.

Alors, la petite répond : -"Je jouais avec son oiseau et d'un coup il m'a craché dessus. Alors, je lui ai cassé le cou, j'ai cassé ses oeufs et j'ai mis le feu à son nid"!

bon week-end a vous.






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Paris : une élève agresse une directrice de collège

NOUVELOBS.COM | 04.10.2008 | 15:19

La directrice d'une Segpa du XIIIème arrondissement a eu le nez cassé, après avoir demandé à une élève d'aller en salle de permanence à la suite d'un retard. Elle a déposé plainte.

 

 

(c) Reuters
Une directrice de collège a été brutalement agressée par une élève le 24 septembre, peut on lire dans le Parisien du samedi 4 octobre. Directrice de la section d'enseignement général et professionnel adapté (Segpa) du collège parisien Elsa-Triolet (XIIIè), Jacqueline Blondeau avait demandé à une élève d'aller en salle de permanence à la suite d'un retard. La jeune fille de 15 ans, qui l'attendait devant son bureau, l'a frappée d'un coup de poing au visage, lui cassant le nez, et entrainant une incapacité de travail de quinze jours. Sa blessure a nécessité une opération, vendredi 3 octobre. La directrice a porté plainte, et des poursuites devraient suivre alors que l'expulsion de l'élève est prévue pour jeudi 9 octobre, à l'issue d'un conseil de discipline.
"C'est un geste terrible, nous allons accompagner la directrice, y compris au niveau judiciaire", a condamné le directeur de l'académie de Paris, Michel Soussan.

"Une minorité d'élèves ingérables"

A l'issue d'une assemblée générale, la communauté enseignante a quant à elle écrit au recteur pour demander de nouveaux effectifs et tirer la sonnette d'alarme sur la situation des Segpa à Paris.
Professeur d'histoire en Segpa au collège Elsa-Triolet, Jérôme Anselmo témoigne dans Le Parisien : "Il y a une minorité d'élèves ingérables. L'agresseuse de Mme Blondeau avait déjà été exclue de deux établissements pour violences. Après son pétage de plombs, il a fallu l'intervention des pompiers pour qu'elle se calme…"
"Je suis le dossier de près et je vais demander à ce qu'on vérifie le parcours de tous les élèves inscrits en Segpa" a affirmé le directeur de l'académie de Paris, Michel Soussan.





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Un mois ferme pour un faux conseiller de Sarkozy

NOUVELOBS.COM | 04.10.2008 | 13:16

Un strasbourgeois de 47 ans avait séjourné sans payer dans un hôtel de Bordeaux en se faisant passer pour un "conseiller technique" de Nicolas Sarkozy.

(c) Reuters

Un Strasbourgeois de 47 ans, qui a séjourné pendant trois semaines dans un hôtel du centre de Bordeaux sans bourse délier en se faisant passer pour un "conseiller technique" de Nicolas Sarkozy, a été condamné vendredi 3 octobre à un mois de prison ferme par le tribunal correctionnel de Bordeaux.

Fausse signature du président

Pour tromper l'hôtel, l'homme, actuellement au RMI et qui se prévalait d'être diplômé d'un MBA de commerce international de l'université de San Diego en Californie, avait produit un faux contrat de travail signé de la main du président de la République.
"Je n'aurais jamais dû faire ça", a reconnu Alain Polomack. Puis, d'une voix faible et hésitante, il a affirmé avoir contacté l'Elysée pour proposer "ce qui ne s'était jamais fait jusqu'à maintenant, mettre en relation les chefs d'entreprises de 27 pays de l'Union".
Sans soutien "officiel", il a raconté au tribunal comment il avait multiplié les contacts, passant de la CCI (Chambre de commerce et d'industrie) de Bordeaux à la préfecture de région, laissant au passage une note impayée de 2.025 euros dans l'hôtel de luxe où il résidait.

"Un doux dingue"

A l'issue de trois semaines, le responsable de l'hôtel a manifesté ses soupçons envers ce "fonctionnaire européen", au costume soigné, mais dépourvu de carte de crédit.
L'avocate de la défense, Me Nadine Tessang, a plaidé que son client était un "doux dingue, qui a cru qu'il pouvait monter son projet tout seul".
Outre un mois de prison ferme avec effet immédiat, l'homme a été condamné à cinq mois avec sursis avec une obligation de soins "psychiatriques ou psychologiques". Le président n'a pas demandé l'application de la "peine plancher" alors que le prévenu, déjà condamné à Strasbourg pour escroquerie et faux en écriture, était en état de récidive.





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IBM veut aider les PME à détecter les vulnérabilités des applications web

Big Blue sort un nouveau logiciel de sécurité IT : AppScan. Il permet aux entreprises de repérer des failles pouvant entraîner des pertes de données.

Advertisement

IBM a annoncé un nouveau logiciel de sécurité destiné aux petites et moyennes entreprises, et conçu pour réduire le risque de violation de données par la détection de vulnérabilités d'applications Web.

Rational AppScan Express Edition est une solution de test automatisée adaptée aux entreprises disposant de ressources informatiques limitées, et pouvant les aider sur la voie de la conformité PCI*, d'après IBM.

"IBM continue de proposer des solutions complètes et économiques à ses partenaires professionnels via le portefeuille Express Advantage, en leur permettant de répondre aux besoins de leurs clients et de surmonter les défis auxquels ils doivent faire face", déclare Steve Solazzo, directeur général de la division IBM General Business. "Nous avons l'intention d'assurer la sécurité des données de l'écosystème de nos partenaires professionnels, et par extension, de leurs clients".

Big Blue a également lancé un nouvel outil d'évaluation de sécurité informatique. Il est destiné à aider les petites et moyennes entreprises à évaluer l'étendue de leurs vulnérabilités. Cet outil en ligne utilise des recherches du cabinet d'analyses Aberdeen Group pour fournir aux utilisateurs des suggestions sur l'amélioration de la sécurité.

Adaptation d'un article de Vnunet.com en date du 2 octobre intitulé IBM targets mid-market with AppScan tools

* Liste de contrôle de sécurité structurée qui vise à sécuriser les données financières, permettant de distinguer les entreprises fiables et celles à risques.







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Avec le recul de ces derniers mois, on peut presque dire que la Société Générale a eu de la chance de connaître une crise en début d'année avec l'affaire Kerviel. Cela lui a permis de mettre en place aussitôt une augmentation de capital dans de bonnes conditions. On le voit aujourd'hui, les établissements bancaires qui sont confrontés à des difficultés ne peuvent quasiment plus faire d'augmentation de capital tant les valorisations sont devenus faibles. Au final, la banque est donc sortie renforcée de cette crise de janvier.

Aujourd'hui, elle résiste quand même bien aux conditions très difficiles du marché et ne parvient pas à revenir sur ses points bas a du mois de juillet ou encore de la mi-septembre. Cette solidité du titre nous rend confiant à moyen terme car les établissements qui auront le mieux traversé la crise seront les grands gagnants de demain pour la recomposition du secteur bancaire international.

Notre objectif de cours ressort à 70 € à court terme. La moindre bouffée d'air sur le marché libérera le titre qui devrait alors accélérer rapidement pour revenir au contact de cette première résistance.





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Jean-Louis Kayitenkore
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Get $15,000 Down-payment
You can own a home today

The new Canada-Ontario Affordable Housing Index Plan - COAHIP, gives you the chance to own a home, by giving you the money you need as down-payment on that home. If you are a low or medium income earner, depending on your situation, you may be eligible for up to Fifteen Thousand Dollars ($15,000).
 
 
To find out what amount you are eligible to receive

AFFORDAbodeTM,
Tired of Landlord Palaver? Avoid it

Our quarterly newsletter will allow you gain access to information on Housing and Affordable home-ownership, in particular.
You get tips on how the Affordable Housing Index Plan work, tips on how to make sure you qualify and become a COAHIP member or recipient;
You gain access to stimulating information and interesting topics about home living, tips on how to grow money, what types of investment works and savings that is best for you. Get all the facts and make the right move, ever time and always.

Why rent when your home is in your hands?
1000 Low-Middle income families needed

It is true we all are tired of renting! We know you are too. To find out more about the new program that has everyone talking,
 
 
This pilot project has limited availability for 1000 families or households and is on a first come, first served basis, so hurry and make sure you complete the online eligibility form to check if you qualify today.
 
It is true we all are tired of renting and we know you are too. To find out more about the new program that has everyone talking,
 
visit: http://www.affordablehousingindex.com/eligibility





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Jean-Louis Kayitenkore
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The Harper illusion: Can it last another 10 days?



IN THE DEBATES, with a couple of brief exceptions, whenever Stephen Harper spoke, the sound level dropped a couple of octaves – the attacking voices of the opposition leaders brought down to a calm and measured tone. In tenor and body language, he was the reasonable one as he fended off the assaults.

To what extent did this cool image, this projected air of everything being under control (and he's good at it, in French as in English – he reminds me a bit of Pierre Trudeau in that sense) trump the fact that he was mostly defending the indefensible?

In reality, the ground is giving out from under him, which is plain to see for anyone who wants to look – the only question being whether he can drag out the pretense that nothing is happening for another week and a half, and whether a plurality, unimpressed by a fractured opposition, will continue to buy the illusion right into the polling booth.

It's not just the economy, although that's the main thing. Even if the fundamentals of the Canadian economy are strong, as Harper claims, who actually believes they'll still be strong much beyond election day with both the U.S. and Europe melting down?

The broader issue is that pigeons are coming home to roost on the whole policy front, all for the same reasons – as consequences of a failed ideology of free enterprise extremism, militarism, social reactionism and so on.

For example, the question of our failed foreign policy hit the news this week, although it took a weird kink – the now-famous plagiarized speech – to get it out. The point is that Harper was dogmatically certain that our holy duty was to follow George W. Bush into the Iraqi disaster.

Keep in mind that Australia's John Howard, from whom the speech was cribbed, Britain's Tony Blair, Spain's José Maria Aznar, plus the leaders of Poland, Slovakia, Ukraine, Norway and Hungary have all been given the bum's rush mainly for that one reason: their support of Bush in Iraq. With a victory, Harper will be the lone survivor of this dead-wrong gang, although he finally did admit in the English debate that he indeed had been wrong. And Canada will look even sillier if the Democrats win in the U.S. and change course, which it looks as though they will.

Just as bad, under Harper, Canada's reputation in the world has been trashed, along with that of the U.S. The assault on Kyoto, our unco-operative mood at the UN, our abandonment of peacekeeping in favour of a red-clawed militarism, support for U.S. torture policies (which no other government did), the abandonment of an even-handed approach in the Israeli-Palestinian conflict and a string of other things have left our erstwhile allies bewildered. This screams out for a reversal.

On domestic policy, the issue of poverty is suddenly up as well, as is the question of day care and childhood development – with the figures showing Canada lagging increasingly behind in literacy and education. And we haven't even mentioned the environment. The Harper Conservatives have basically nothing to say about social policy, except to cut taxes. Give people an extra hundred bucks off their taxes, as the ideology prescribes, and they'll work it out for themselves.

Alas, with deficits looming, perhaps catastrophically so, not to mention other mayhem, the era of tax cuts is over, no matter what the parties promise, either here or in the U.S. Furthermore, the utopian right-wing presumption that private action alone solves everything is also over – the U.S. bailout of the failed money creed putting paid to that. The fact is that we will now need wise government action to guide us through the shoals ahead.

The Harper government doesn't believe in public action, wise or not. That's a problem, but we may not know how much of a problem until after the election when government action is increasingly called for, but the Harper government, virtually alone in the world, is ideologically opposed to it.







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Canada injects billions into markets to ease credit crunch
4 Oct, 2008, 0757 hrs IST, IANS

 

TORONTO: With credit squeeze hitting Canadian markets, the Bank of Canada Friday announced injection of billions of dollars into term lending mark

ets even as the finance claimed that the Canadian economy was doing fine.

In a statement, the nation's central bank said that beginning Sept 19 it has extended $8 billion to provide liquidity to term lending markets.

In light of persistent pressures in these markets, the bank announced further steps to provide term liquidity through term purchase and resale agreements (PRAs), allowing commercial lenders access to funds for terms up to 91 days.

The bank said it will hold weekly auctions through to the end of the year, expecting the minimum total amount outstanding to reach $20 billion by Nov 6.

Meanwhile, finance minister Jim Flaherty said Friday that despite its dependence on the US for trade, the Canadian economy was doing fine and faced no immediate threat.

``We are in a good position as we enter this time of international financial market turbulence,'' said Flaherty, speaking at the University of Western Ontario.

He said, ``This is a dynamic economy and there will be some businesses that close and there'll be some new business that will open. Fortunately in Canada we're on the plus side.''

Welcoming the $700-billion US bail-out of Wall Street, he said the current mess was the result of the bad fiscal policies followed by the US which has been running a huge public debt for some time.

On the contrary, he said, Canadian fiscal policies were much more prudent than those in the US.

``We are solid fiscally, the most solid in the G7; others look on Canada as being a model of fiscal prudence. We are in much better shape.''

The minister outlined a long-term, national economic plan which focused on five key areas - tax, fiscal, infrastructure, entrepreneurial and knowledge.

``The knowledge advantage is fundamental to economic growth in Canada over the course of the next generations. We need excellence in education and skills; the necessity is to educate,'' he said.





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Future of Canada's economy comes into question as TSX ends week of panic

TORONTO — Questions about the future of the North American economy and mixed emotions by investors following the passage of a U.S. bailout package for Wall Street banks dragged the Canadian stock market to its biggest weekly loss in years.

The Toronto Stock Exchange tumbled 11 per cent over the trading week - a loss of more than $150 billion in value - a shocking drop that reflected economic worries about how deep the U.S. recession will bite in Canada, Europe and elsewhere.

A dismal report from the U.S. Labour Department only seemed to add to fears, reporting that American employers slashed payrolls by 159,000 in September, the highest in more than five years and well above expectations.

"It's not just about the consumer, it's now more broadly based in terms of weakness in the U.S. economy. That has significant implications for Canada," said Patricia Croft, chief economist and vice-president of Canadian money manager Phillips, Hager and North.

"We are seeing some signs of fraying around the edges for the Canadian economy."

The Toronto market, which was swamped by huge daily losses followed by moderate bouncebacks all week, continued to be volatile Friday as investors kept a wary eye on the situation south of the border.

The TSX recovered about 400 points lost until shortly before the U.S. House of Representatives voted again on a bailout package for the American financial industry. Then it began a gradual descent into negative territory and ended the day with a 97-point loss.

On Wall Street, the Dow Jones average was up about 290 points until shortly after the bill passed, when the early gains all but vanished. The Dow closed the session down about 157 points.

"It's not like we're going to turn a switch on, come to work Monday morning and the financial system is going to be all well and healthy once again," said Croft.

"It's going to take some time to go through this process, and in the interim there could be some more mergers or bank failures in the U.S. and Europe."

Chyanne Fyckes, chief investment manager with Stone Asset Management in Toronto, called the earlier TSX rally a "dead cat bounce" - a short-lived uptick that follows a major drop.

"There's lots of cash on the sidelines, everyone knows that," said Fyckes. "You're going to get these rallies in here, but I still think you're going to see further downside."

On Monday, the Canadian market had its biggest point drop ever - 841 points. The next day, the S&P/TSX composite recovered about half that loss. Thursday's 814-point drop was triggered by a major Wall Street firm's warning that commodity stocks are overpriced.

The recent economic turmoil has reinforced worries that Canada's resources-based economy will suffer from a worldwide drop in demand for oil, metals, fertilizer and grains. Worries also persist that the global financial crisis is squeezing the availability of credit in Canada.

"I don't see what's going to make the Canadian economy very strong in the short term," said Ian Nakamoto, director of research at MacDougall, MacDougall and MacTier Inc.

"It used to be the commodity story, but you can see what's happening to our commodity prices. Though the Canadian dollar has fallen a little bit, it's not enough to get the manufacturing sector revving up."

In trading Friday, oil prices lost nine cents to US$93.88 a barrel on commodities markets. The Canadian dollar fell marginally to $92.46, its lowest closing level in more than two years.

Next week, investors will be awaiting the latest Canadian employment which analyst expectations generally expect will show flat job growth.

In a move to loosen up Canadian credit markets, the Bank of Canada said Friday it is pumping another $12 billion or more into money markets to ensure Canadians have access to loans.

The central bank move expands total credit to $20 billion available to the markets by Nov. 6.

The economy has become the main issue in the campaign for the Oct. 14 Canadian federal election, with all the opposition parties attacking the federal Conservatives for what they say is a do-nothing approach to slowing economic growth.

Prime Minister Stephen Harper and Finance Minister Jim Flaherty continue to insist the economy is fundamentally sound and the financial crisis and housing slump that have battered the U.S. and spilled over into Europe isn't nearly so severe in Canada.

"The Canadian economy has continued to create jobs - it's slower than it was, but it continues to grow," Harper said during campaign event Friday in Saint John, N.B.

"In Canada, we had a fairly stable mortgage sector and obviously our banks are in a stable situation."

In London, Ont., Flaherty said the "tragic" consequences of Americans losing their homes in the U.S. housing market meltdown won't befall Canadian homeowners.

Speaking to students at the University of Western Ontario, the finance minister said Canadians can afford the mortgages they have and he added that the domestic housing market is stable.

"There are some very significant changes between our two economies and that makes day-to-day life in Canada rather different, where people in Canada don't have to worry about losing their homes, whereas many Americans are right now," Flaherty said.

"Our fiscal fundamentals are solid, our banks are well-capitalized, our insurance companies are well-capitalized. Households are well capitalized."

Despite criticism at the televised English-language election debate Thursday night that the Conservatives aren't doing enough to avert a financial crisis at home, Flaherty said there's no need for sudden changes and that stability and steadiness will take Canada through the financial crisis.

Both Harper and Flaherty have said that while growth is slowing, the government's corporate and personal tax cuts announced last fall have helped companies and consumers deal with economic uncertainty.

The worsening U.S. economy has also spilled over into Europe, where France has called an exceptional weekend summit to come up with a common European response to the spreading U.S. financial crisis.

On Friday, Jean-Claude Trichet, head of the European Central Bank, called for European unity in responding to the global financial crisis.

Trichet warned that European "growth is weak and there are risks of it being even more so."

He said this "exceptional period" of financial turbulence requires Europe to be "as united as possible."






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Jean-Louis Kayitenkore
Procurement Consultant
Gsm:  +250-08470205
Home: +250-55104140
P.O. Box 3867
Kigali-Rwanda
East Africa
Blog: http://www.cepgl.blogspot.com
Skype ID : Kayisa66

Rwanda: RSSP Gets an Extra $37 Million


The New Times (Kigali)
 

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Tony Barigye
Kigali

A total of $37 million has been allocated for the second phase of the Rural Sector Support Project [RSSP] that will run for the next four years to consolidate the transformation of the first phase of the project.

RSSP 2 was officially launched at Prime Holdings in Kimihurura, Gasabo district, on Thursday by Christophe Bazivamo, the Minister of Agriculture and Resources.

The project, funded by the World Bank, was initiated by the government of Rwanda in 2001 to boost agriculture production at the grass root levels.

According to Jolly Dusabe, the Project Coordinator, the first phase which lasted eight years was allocated Frw49 million to cover capacity building, rehabilitation of marshland, distribution of loans and construction of infrastructure to facilitate access to markets.

Among the achievements of RSSP1, Dusabe said that 3,110 hectares of marshland were rehabilitated exceeding the 2,000 target providing 25,528 households with land for cultivation.

With the government's objective of unlocking rural growth to increase incomes and reduce poverty, value adding infrastructure constructed included 23 markets, 24 bridges, 48 kilometers of road, 71 storages and 125 drying areas.

RSSP is a strategy introduced by the government to fight poverty in connection with the Economic Development and Poverty Reduction Strategy [EDPRS]. It is the biggest World Bank funded project in Rwanda and covers the whole country.

Bazivamo commended the achievements of RSSP1 and said that RSSP2 which will be a continuation and "will focus on two major components that include marshlands and hillsides rehabilitation and strengthening commodity chains."

He said that the second phase will be directed at consolidating the achievements of RSSF1 by, "financing investments in improving productivity of farming systems on hillsides associated with marshland irrigation schemes" and "Farmers on hillsides will also be organized and trained on promotion of cost effective soil and water conservation techniques."

Bazivamo was optimistic that by the end of the second phase, "at least 50 percent of the farmers should have adopted sustainable marshland and hillside intensification technologies and production of rice will have increased by 100 percent."

Victoria Kwakwa, the World Bank representative, appreciated the work done in the first phase and reiterated the donor organization's commitment to work closely with Rwanda. But she challenged that the four year interventions be completed in a shorter time.

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The second phase is scheduled to end in 2012 and a final phase to last five years will focus on promoting diversification of economic activities in rural areas as a way of increasing and stabilizing rural incomes.






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Jean-Louis Kayitenkore
Procurement Consultant
Gsm:  +250-08470205
Home: +250-55104140
P.O. Box 3867
Kigali-Rwanda
East Africa
Blog: http://www.cepgl.blogspot.com
Skype ID : Kayisa66

Rwanda: Governor Condemns Arrests in DR Congo


The New Times (Kigali)
 

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Martin Tindiwensi
Rubavu

The Governor of the Western Province, Penelope Kantarama, has condemned her Congolese counterpart of the North Kivu province, Julien Paluku, for failing to stop the mistreatment of Rwandans in the neighbouring town of Goma.

Kantarama made the remarks at a recent security meeting in Gisenyi town. The meeting brought together provincial leaders, Mayors, sector and cell coordinators, military and police officers to discuss the issue.

"We have in the past met and solved any issues between the two provinces together. It's unfortunate however, to see that the north Kivu authorities have been reluctant to meet with us so as to find solutions to the current tension between the two towns which has resulted in the arrest and torture of over 12 Rwandans who are up to now illegally detained in Goma prison," she said.

She said that although the actual number of Rwandans detained in Goma is not yet confirmed, Rubavu district authorities and the immigration office were in the process of compiling lists of the missing residents and called upon people to cut visits to Goma.

She said that a list of Rwandan students studying in Goma was also being compiled and their names would be made known to the immigration office which she said will help the district in identifying any one missing.

"These children will have their names taken by the immigration office every time they cross the border to Goma schools," she said.

The governor also castigated the DRC authorities for siding with the FDLR rebels who have often crossed the border to destabilise security in the sectors that share borders with DRC.

"An armed group of unidentified people recently crossed the border from DRC to Busasamana sector-killed one resident and injured an old man whose names I don't remember. They looted all their property and went back to DRC," she said.

"These are all issues we have wanted to discuss with our north Kivu provincial counterparts but they have deliberately turned down our invitations and requests to meet them," she added.

The reluctance of Kivu authorities to meet Rwandan leaders over the tense situation is largely attributed to their current open accusation against Rwanda.

The current hostility is said to have been triggered by deaths of many DRC troops killed by General Laurent Nkunda's CNDP in battle, whose bodies were recently driven to Goma and viewed by the north Kivu leaders and residents.

Governor Paluku, is said to openly allege that the Rwandan government is supporting Gen. Nkunda because of his triumph over government forces, a claim Kigali refutes. He was reported to have organised street children recently in Goma to demonstrate denouncing Rwanda.

Paluku was recently quoted by Goma newspapers as saying that Nkunda's current military superiority was evident that he had other forces behind him and most likely the Rwandan government. At the meeting, Kantarama described as baseless such allegations.

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"Nkunda's superiority and military strength does not in any way mean that he is supported by Rwanda," said Kantarama.






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Jean-Louis Kayitenkore
Procurement Consultant
Gsm:  +250-08470205
Home: +250-55104140
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East Africa
Blog: http://www.cepgl.blogspot.com
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Rwanda: Fuel Prices Fall


The New Times (Kigali)
 

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Gertrude Majyambere
Kigali

The Government has announced that it has reduced petrol and gas oil prices by 4.761 percent effective Monday, October 6. This was disclosed by State Minister for Industry and Investment Promotion, Vincent Karega during a press briefing. He said that this was driven by steadily decreasing fuel prices on the international markets.

Accordingly, pump prices for petrol and diesel this week will reduce from Frw924 to Frw880 for petrol and Frw870 for diesel. Three year ago, the price of petrol was Frw607 per litre while diesel stood at Frw 595.

Karega said that a consensus has been reached between local fuel dealers to effect the decision without compromising their business.

"Fuel dealers had some concern on their new stock which was bought at higher prices, but they have compensation on the recent fuel price hikes that impacted old stocks," Karega said.

He said that if the market response is effective, a positive impact will be registered in reducing transport fares, food prices, and inflation and improve trade in general which was attributed to cost of fuel.

The minister called upon responsible institutions like Rwanda Utility Regulatory Agency (RURA) to intervene and regulate transport costs, and sensitise citizens to know their rights.

"We cannot predict whether prices will continue to decrease or increase, but we had maintained our prices for three months to monitor its stability," said Karega.

He added that if not highly subsidized, diesel pump prices could shoot higher, to about Frw1223 on petrol and 1204 on diesel, thereby forcing prices of essential commodities to go high and thus affecting the entire economy.

Subsidies on petrol since April to August this month have been 100 percent on diesel and 77 percent on petrol, while kerosene has no subsidies as its taxes are already low (5 percent).

But the Government is proposing to subsidize kerosene since it's largely used by Rwandans for lighting and cooking since charcoal and cooking gas are expensive.

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Meanwhile, Karega said that already three companies from Malaysia and Saudi Arabia have shown interest in investing in fuel, pledging to construct reservoirs in partnership with local investors.






--
Jean-Louis Kayitenkore
Procurement Consultant
Gsm:  +250-08470205
Home: +250-55104140
P.O. Box 3867
Kigali-Rwanda
East Africa
Blog: http://www.cepgl.blogspot.com
Skype ID : Kayisa66