Indigenous tourism is about to get wild in Campbell River.
Homalco Wildlife & Cultural Tours, an a 20-year-old Indigenous community-owned business, will be opening a new Homalco Adventure Centre in Campbell River, launching two new, state-of-the-art adventure tour vessels, and introducing a new Whales, Wildlife and Culture tour this spring.
“After a long year of restricted business, we are really looking forward to an exciting spring of substantial expansions for our organization,’ said Homalco Tourism Development Officer JP Obbagy.
Despite pandemic-related supply chain delays, he confirms the buildout of the centre, manufacturing of the watercrafts and tour staffing are underway.
“As we move forward, we are integrating the highest possible standard of COVID-19 safety protocols into all aspects of these operations,” Obbagy said.
The Homalco Adventure Centre will be located in the Discovery Harbour Mall at 1344 Island Highway in Campbell River, adjacent to the Coastal Community Credit Union. Designed to immerse visitors in First Nations culture at the outset, the centre’s contemporary Indigenous design will feature art from various local First Nation artists, guidebooks and more.
A defining component of the HWCT tours will be two, new landing craft boats that offer Zodiac-style, fresh-air seats and comfort seating providing protection inside the cozy cabin.
“Safety is our number one priority, and we are employing the expertise of the best mariners in the business to ensure we’ve identified and addressed all vessel safety concerns,” Obbagy said.
The new Whales, Wildlife and Culture tour expands the expertise of HWCT’s team with the addition of marine naturalists, skippers and Indigenous guides. Marketing and social media coordinator Chyanne Trenholm describes the tour as something totally unique on the Island.
“We now have the ability to bring whales and other marine life into our realm of exploration. Of course, the Homalco cultural experience is always a unique part of all our tours, and our new boats will allow us access to land-based activities.”
While COVID-19 international restrictions will likely still be in effect, Tour Coordinator for Homalco Wildlife & Cultural Tours Shirley Badger is confident that the tours will continue to fill.
“We have seen tremendous interest in Indigenous tourism from our domestic market and our own provincial residents who are passionate about wildlife, culture and the natural beauty to be found in the Territory of the Homalco,” she said.
“All of this great news spells progress for the Homalco First Nation,” says Chief Darren Blaney. “While COVID-19 is still a factor for the foreseeable future, our Homalco First Nation is ready to welcome visitors again, for now, and as long as we deem it safe to do so. With this expansion great things can happen: knowledge of our culture and appreciation for our environment can be shared with a larger audience and more of our people can be hired and their skills developed.
“I believe our tour company will continue to help in healing, creating resilience and building a bright future for our people.”
More information regarding the Grand Opening of the Adventure Centre and the Whales, Wildlife and Culture tour will be announced in the coming weeks. To find out more about HWCT, visit the website.
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TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 239.24 points at 22,749.04.
In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.
The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.
The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.
The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.
This report by The Canadian Press was first published Sept. 6, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.
The S&P/TSX composite index was up 171.41 points at 23,298.39.
In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.
The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.
The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.
The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.
This report by The Canadian Press was first published Aug. 29, 2024.
The crypto market has recently experienced a significant downturn, mirroring broader risk asset sell-offs. Over the past week, Bitcoin’s price dropped by 24%, reaching $53,000, while Ethereum plummeted nearly a third to $2,340. Major altcoins also suffered, with Cardano down 27.7%, Solana 36.2%, Dogecoin 34.6%, XRP 23.1%, Shiba Inu 30.1%, and BNB 25.7%.
The severe downturn in the crypto market appears to be part of a broader flight to safety, triggered by disappointing economic data. A worse-than-expected unemployment report on Friday marked the beginning of a technical recession, as defined by the Sahm Rule. This rule identifies a recession when the three-month average unemployment rate rises by at least half a percentage point from its lowest point in the past year.
Friday’s figures met this threshold, signaling an abrupt economic downshift. Consequently, investors sought safer assets, leading to declines in major stock indices: the S&P 500 dropped 2%, the Nasdaq 2.5%, and the Dow 1.5%. This trend continued into Monday with further sell-offs overseas.
The crypto market’s rapid decline raises questions about its role as either a speculative asset or a hedge against inflation and recession. Despite hopes that crypto could act as a risk hedge, the recent crash suggests it remains a speculative investment.
Since the downturn, the crypto market has seen its largest three-day sell-off in nearly a year, losing over $500 billion in market value. According to CoinGlass data, this bloodbath wiped out more than $1 billion in leveraged positions within the last 24 hours, including $365 million in Bitcoin and $348 million in Ether.
Khushboo Khullar of Lightning Ventures, speaking to Bloomberg, argued that the crypto sell-off is part of a broader liquidity panic as traders rush to cover margin calls. Khullar views this as a temporary sell-off, presenting a potential buying opportunity.
Josh Gilbert, an eToro market analyst, supports Khullar’s perspective, suggesting that the expected Federal Reserve rate cuts could benefit crypto assets. “Crypto assets have sold off, but many investors will see an opportunity. We see Federal Reserve rate cuts, which are now likely to come sharper than expected, as hugely positive for crypto assets,” Gilbert told Coindesk.
Despite the recent volatility, crypto continues to make strides toward mainstream acceptance. Notably, Morgan Stanley will allow its advisors to offer Bitcoin ETFs starting Wednesday. This follows more than half a year after the introduction of the first Bitcoin ETF. The investment bank will enable over 15,000 of its financial advisors to sell BlackRock’s IBIT and Fidelity’s FBTC. This move is seen as a significant step toward the “mainstreamization” of crypto, given the lengthy regulatory and company processes in major investment banks.
The recent crypto market downturn highlights its volatility and the broader economic concerns affecting all risk assets. While some analysts see the current situation as a temporary sell-off and a buying opportunity, others caution against the speculative nature of crypto. As the market evolves, its role as a mainstream alternative asset continues to grow, marked by increasing institutional acceptance and new investment opportunities.
