Canadian pension funds would be keen to explore investment opportunities in Indian infrastructure funds as India offers a “stable investment climate”, Canadian deputy prime minister and minister of finance Chrystia Freeland said on July 16.
Freeland met Indian finance minister Nirmala Sitharaman in Gujarat’s Gandhinagar a day ahead of the third meeting of G20 Finance Ministers and Central Bank Governors.
Canada Pension Plan Investment Board (CPPIB) has already invested in India’s National Investment and Infrastructure Fund (NIIF), a collaborative platform between the government of India, global investors, multilateral development banks (MDB) and domestic financial institutions.
Other NIIF global investors include Abu Dhabi Investment Authority (ADIA), PSP Investments, Temasek and US International Development Finance Corporation (US DFC).
NIIF has three funds —Master Fund, Fund of Funds and Strategic Opportunities Fund — that have invested in 16 entities covering ports and logistics, renewable energy, roads, digital infrastructure, healthcare and manufacturing among others.
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The two sides also discussed the progress made on the ongoing trade-related negotiations between India and Canada, India’s finance ministry tweeted.
Union Finance Minister Smt. @nsitharaman and Canadian Deputy Prime Minister and Minister of Finance Ms Chrystia Freeland @cafreeland met on the sidelines of the 3rd G20 Finance Ministers and Central Bank Governors #G20FMCBG meeting in Gandhinagar, Gujarat, today.
Building on the… pic.twitter.com/8rTWcMuWlh
— Ministry of Finance (@FinMinIndia) July 16, 2023
After relaunching negotiations in March 2022, the two countries have concluded eight rounds of negotiations for a Comprehensive Economic Partnership Agreement (CEPA). A fresh round of virtual talks opened on July 12 and is expected to continue till July 21.
Origin procedures, dispute settlements, trade in telecom and financial services are some of the areas of negotiations between India and Canada for the proposed trade pact.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
