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Economy

The Migrant in Us

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While on a business trip to Alberta, I visited a small community outside of the capital, settling into a diner for coffee and breakfast. Three elderly gentlemen sat nearby, talking about the issues of the day in a very animated manner. The issue of immigration came up. “First they brought in the Syrians, and now a bunch of Ukrainians. Where are they going to live, work?”.

I did something I had not done in some time, I sat back and just listened to these fellows. The men’s facial expressions showed real concern not just for “Us”(the taxpayer) but also for these misfortunate too. Honesty, and open discussion followed with some emotion to boot.

I walked up to them and asked if I could buy them some coffee and donuts. They accepted my offer and I sat down. Two of the chaps were former contractors from up norths oil fields. The other is a manufacturer long since gone out of business. Lots of history between these three men, builders of the economy and the province they have lived in all their lives. They seemed open to further discussion, so off we went into a debate regarding immigration and what needed to be done in Alberta. They were divided about Jason Kenney’s response to the Pandemic, with two having received all their shots and one other non at all. Our conversation moved on to the Trucker’s Convoy, the government’s response to it, and what it meant to be free men. Lots of humour, with aside expletives to match the conversation, and back to immigration. A decision was made that accepting the migrants from Ukraine was acceptable, but what about all those other people from around the world, often uneducated, and unskilled.

Well, I had to think hard about what I could say to them without angering them with my response. A thought happened to me. I made a proclamation that migrants are essential for all societies, and after all are we not all relations to an immigrant historically? Well, they did not know anyone who had made a significant contribution to their community. Seems they did not need to look too far. I pointed out to them that the vaccines they were given to protect them from COVID-19 were developed by firms founded by immigrants. The founder of Pfizer came from Germany, located in the USA along with his extended family. The CEO of Moderna (Stephane Bancel) came from France. If it were not for these immigrants and the many other technicians, chemists, and scientists that developed these vaccines millions of us would have died. Further to the conversation, I pointed out that many of our leading engineers, teachers, doctors, nurses, and tradespeople were immigrants, making our nation their new home.

I asked them where the ethnic restaurants were in their neighbourhood. They realized how many there were. Over 50% of our new start businesses were founded and established by immigrants. Migrants were possibly the most enterprising members of our communities. Their ingenuity and create innovative imaginations spur our economic growth and employs our neighbours, family and friends.

This conversation was pleasant and constructive. They certainly enjoyed their visits to these ethnic restaurants, and yes their doctors were from other parts of the world. It seemed their opinions were evolving as we spoke. Their eyes twinkled each time they brought up a new situation where they experienced a foreign person or thing that had become commonplace in their community.

A good experience with new friends established. They represented old-time immigrants from Scotland, Germany and Poland. Eyes wide, and laughter at our table, we separated as friends with respectful waves of the hand.

Steven Kaszab
Bradford, Ontario
skaszab@yahoo.ca

Economy

S&P/TSX composite gains almost 100 points, U.S. stock markets also higher

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TORONTO – Strength in the base metal and technology sectors helped Canada’s main stock index gain almost 100 points on Friday, while U.S. stock markets also climbed higher.

The S&P/TSX composite index closed up 93.51 points at 23,568.65.

In New York, the Dow Jones industrial average was up 297.01 points at 41,393.78. The S&P 500 index was up 30.26 points at 5,626.02, while the Nasdaq composite was up 114.30 points at 17,683.98.

The Canadian dollar traded for 73.61 cents US compared with 73.58 cents US on Thursday.

The October crude oil contract was down 32 cents at US$68.65 per barrel and the October natural gas contract was down five cents at US$2.31 per mmBTU.

The December gold contract was up US$30.10 at US$2,610.70 an ounce and the December copper contract was up four cents US$4.24 a pound.

This report by The Canadian Press was first published Sept. 13, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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Economy

Statistics Canada reports wholesale sales higher in July

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OTTAWA – Statistics Canada says wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain, rose 0.4 per cent to $82.7 billion in July.

The increase came as sales in the miscellaneous subsector gained three per cent to reach $10.5 billion in July, helped by strength in the agriculture supplies industry group, which rose 9.2 per cent.

The food, beverage and tobacco subsector added 1.7 per cent to total $15 billion in July.

The personal and household goods subsector fell 2.5 per cent to $12.1 billion.

In volume terms, overall wholesale sales rose 0.5 per cent in July.

Statistics Canada started including oilseed and grain as well as the petroleum and petroleum products subsector as part of wholesale trade last year, but is excluding the data from monthly analysis until there is enough historical data.

This report by The Canadian Press was first published Sept. 13, 2024.

The Canadian Press. All rights reserved.

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Economy

S&P/TSX composite up more than 150 points, U.S. stock markets mixed

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TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in the base metal and energy sectors, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 172.18 points at 23,383.35.

In New York, the Dow Jones industrial average was down 34.99 points at 40,826.72. The S&P 500 index was up 10.56 points at 5,564.69, while the Nasdaq composite was up 74.84 points at 17,470.37.

The Canadian dollar traded for 73.55 cents US compared with 73.59 cents US on Wednesday.

The October crude oil contract was up $2.00 at US$69.31 per barrel and the October natural gas contract was up five cents at US$2.32 per mmBTU.

The December gold contract was up US$40.00 at US$2,582.40 an ounce and the December copper contract was up six cents at US$4.20 a pound.

This report by The Canadian Press was first published Sept. 12, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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