Canada column for
Sunday, March 8/20
THE CANADIAN REPORT
(c) By Jim Fox
Teams of Canadian
medical specialists are working to develop a “lab-in-a-box” to diagnose quickly
and attack the novel coronavirus that’s sweeping the world.
While saying the
risk for Canadians in contracting the disease, also known as COVID-19, remains
low, cases are popping up across the country.
The Canadian
government is spending $27 million to support 47 research teams.
They are
developing, testing and implementing ways to deal with the global outbreak.
This includes $1
million from the International Development Research Center to work on the lab
including viral respirologists in Vietnam and Brazil.
“This is about
making sure that Canada is able to participate in this research that is
happening globally and that we have Canadian solutions being developed,” Health
Minister Patty Hajdu said.
The Canadian
government says there are 51 cases confirmed in Ontario, British Columbia,
Alberta and Quebec and urges people to use caution when travelling abroad.
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Canada’s central
bank slashed its key interest rate by one-half point to 1.25 percent – and is
prepare to make further cuts as the economy is being hit by the coronavirus
impact.
In the surprise
move, to follow the U.S. Federal Reserve cut, it’s the first reduction in four
years.
Typical cuts by the
Bank of Canada have been one-quarter of a percent.
“Before the
outbreak, the global economy was showing signs of stabilizing,” the bank said.
“While Canada’s
economy has been operating close to potential with inflation on target, the
COVID-19 virus is a material negative shock to the Canadian and global outlooks,
and monetary and fiscal authorities are responding,” it added.
---
News in brief:
- With the
week-long March school break a week away, many people have cancelled travel
plans due to the coronavirus outbreak. As well, the number of visitors to
Canada from China, a $2-billion annual business, has plummeted and major conferences
are being cancelled. Collision, a major technology convention attracting 30,000
people to Toronto in June, has been put off to go online only. A Shopify
e-commerce conference next month in Toronto has been postponed for thousands of
delegates.
- A Leger Marketing
poll says that 61 percent of respondents are dissatisfied with how Prime
Minister Justin Trudeau handled the Native railway and highway blockades.
Trudeau had allowed the three weeks of blockades to play out while peaceful
negotiations were under way. At issue were national protests in support of
Indigenous leaders’ opposition to the construction of a natural gas pipeline in
British Columbia.
---
Facts and figures:
The Canadian dollar
is lower at 74.48 cents U.S. while the U.S. dollar returns $1.342 Canadian before
exchange fees.
The Bank of Canada’s
key interest rate is down to 1.25 percent and the prime-lending rate is 3.45 percent.
The Toronto Stock Exchange
index fell to 16,175 points Friday while the TSX Venture index was up to 506
points.
The average price
for gas in Canada is lower at $1.08 a liter (Canadian) or $4.10 for a U.S.
gallon.
Lotto Max: (March
3) 10, 14, 15, 25, 27, 39 and 48; bonus 28. (Feb. 28) 21, 27, 30, 32, 33, 36
and 46; bonus 38.
Lotto 6/49: (March
4) 6, 8, 15, 24, 38 and 41; bonus 31. (Feb. 29) 6, 12, 15, 18, 31 and 46;
bonus 13.
---
Regional briefs:
- Montrealers were
jolted from their sleep by a 3.3 magnitude earthquake overnight Friday. Earthquakes
Canada said the epicenter was about five miles northeast of downtown Montreal. It
was centered under the island of Montreal and was widely felt, said Nick
Ackerley, a seismologist with Natural Resources Canada. People reported it felt
like a small, brief explosion but there were no injuries and limited
damage.
- A Second
World War veteran’s wishes for a few cards for his 100th birthday came more
than true with 90,000 from around the world. Fred Arsenault, a resident at
Sunnybrook Hospital in Toronto, asked his son Ron to post a message on social
media that resulted in all those greetings after Canadian politicians took up
the cause. ““We read all of them and people have poured their hearts and souls
into these cards,” Ron said.
-30-
Jim Fox can be reached at canadareport@hotmail.com
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