Connect with us

Investment

Major investment in the rehabilitation of Forestville's port facilities – Canada NewsWire

Published

 on


FORESTVILLE, QC, Feb. 12, 2021 /CNW/ – The governments of Canada and Quebec recognize the importance of investing in marine transportation infrastructure to ensure that port facilities remain safe, competitive and efficient, and to support economic growth and job creation.

The Honourable Maryam Monsef, Minister for Women and Gender Equality and Rural Economic Development, and Chantal Rouleau, Minister responsible for Transport Quebec, highlighted their commitment to rehabilitate the Port of Forestville. Midway between Quebec City and Sept-Îles, the Port enables the transportation of goods throughout the region and offers a seasonal ferry service between the south shore and the north shore of the Saint Lawrence River.

As part of the rehabilitation, a curtain wall attached to new anchor blocks will be built, and the wharf will be redecked and partly covered in gravel. This project will ensure the compliance and safety of the wharf and will help maintain and expand marine transportation in the region. Each year, approximately 65,000 tons of goods, mainly dry bulk goods, pass through the Port of Forestville, and its ferry service transports close to 40,000 passengers and 20,000 vehicles.

The Government of Canada is contributing more than $1.1 million to the project through the Investing in Canada Infrastructure Program. The town of Forestville is providing more than $2.1 million in funding.  The Government of Quebec will disclose their contribution at a later date.

The Government of Canada’s contribution will be made on the condition that its obligations regarding the consultation of Indigenous peoples are met. Consultations have begun with the Essipit Innu First Nation and Pessamit Innu First Nation.

Quotes

“Rural communities are the backbone of the Canadian economy. By investing in projects like these, we are helping to make them stronger, more competitive and we are contributing to our country’s economic recovery. From building roads and water systems to improving broadband coverage and community facilities, the Government of Canada has invested more than $7.5 billion in 3,628 infrastructure projects across Quebec since 2015. The rehabilitation of the Forestville port facilities will allow the North Shore to continue to grow, as will the $185 million investment in the extension of Route 138 that we announced last December. We have also invested over $213 million in 53 projects in the province, which will help connect more than 250,000 households to high-speed internet.”

The Honourable Maryam Monsef, Minister for Women and Gender Equality and Rural Economic Development

“The Saint Lawrence River is a vital link for the economic growth, social development and environmental performance of Quebec and the North Shore. I am happy of our government commitment to the refurbishment of Forestville’s wharf. Investing in this marine infrastructure is a sound decision that will provide current and future users with a means of transport that promotes sustainable mobility. Thanks to its location, the Forestville wharf enables the transportation of goods by sea and thereby helps reduce traffic on Highway 138. It is also sure to be a catalyst for business development.”

Chantal Rouleau, Minister for Transport and Minister responsible for the Metropolis and the Montréal Region

“This investment in the rehabilitation of the Forestville port facilities results from unprecedented cooperation between the three orders of government–local, provincial and federal–and the business community all in favor of this important restructuring project that is so crucial to the current and future economic vitality of the City and entire region. The rehabilitation of the wharf will help further strengthen and develop Forestville’s strategic position as the center of regional transportation and business, generating significant benefits not only for Forestville, but also for all Upper North Shore communities. This will also significantly contribute to making the St. Lawrence River a sustainable source of economic and environmental growth.”

Micheline Anctil, mayor of Forestville

Quick facts

  • Through the Investing in Canada Plan, the federal government is investing more than $180 billion over 12 years in projects related to public transit, green infrastructure, social infrastructure, trade and transportation and Canada’s rural and northern communities.
  • In Quebec, the Government of Canada has invested more $7.5 billion in 3,628 infrastructure projects since 2015.
  • From 2015 to 2020, the Government of Quebec has invested $200 million in marine transportation infrastructure through the Programme de soutien aux investissements dans les infrastructures de transport maritime. 
  • The Plan québécois des infrastructures aims to invest $130.5 billion between 2020 and 2030.

Related links

Investing in Canada Plan Project Map
http://www.infrastructure.gc.ca/map

Investing in Canada: Canada’s Long-Term Infrastructure Plan
http://www.infrastructure.gc.ca/plan/icp-publication-pic-eng.html

Infrastructure in Quebec
https://www.infrastructure.gc.ca/plan/prog-proj-qc-eng.html

Follow us on Twitter, Facebook, Instagram and LinkedIn 
Website:  http://www.infrastructure.gc.ca

SOURCE Infrastructure Canada

For further information: Chantalle Aubertin, Press Secretary, Office of the Minister of Infrastructure and Communities, Tel.: 613-941-0660, Email: [email protected]; Florence Plourde, Press Secretary, Office of the Minister of Transport and Minister Responsible for the Estrie Region, Tel.: 418-446-5911; Media relations, Infrastructure Canada, Tel.: 613-960-9251, Toll free: 1-877-250-7154, Email: [email protected]; Media relations, Ministère des Transports, Communications Directorate, Quebec City: 418-644-4444, Toll free: 1-866-341-5724

Related Links

www.infrastructure.gc.ca

Let’s block ads! (Why?)



Source link

Continue Reading

Investment

Investment Firm for the Ultra-Rich Opens Office in Hong Kong – BNN

Published

 on


(Bloomberg) — Investment firm Cambridge Associates is opening a Hong Kong office, ramping up its focus on Asia amid a surge in wealth in the region.

The Boston-based company that serves clients such as endowments, family offices and pension funds already has offices in Singapore and Beijing. It hired Edwina Ho in February as senior director of business development for Asia and relocated its head of the global private client practice, Mary Pang, to Singapore from San Francisco, according to a statement Monday.

“Asia has long been a key market for Cambridge Associates and we are very excited to be expanding in Hong Kong as the next stage in our mission to provide strong investment performance and excellent service to clients across the region,” said Aaron Costello, the firm’s regional head of Asia, in the statement.

Wealth growth has surged in the region in recent years and the number of people with more than $30 million is forecast to outpace the rest of the world through 2025, according to a Knight Frank report last month. The richest Asia Pacific billionaires are worth a combined $2.5 trillion, almost triple the amount at the end of 2016, data compiled by Bloomberg show.

Cambridge Associates, which has more than $38 billion under management, serves over 230 wealthy individuals and families globally. The company’s owners include the Hall family behind Hallmark greeting cards, the Rothschilds and the Boels of Belgian investment firm Sofina SA.

The rapid wealth growth in Asia has pushed financial firms to turn their focus to the region. HSBC Holdings Plc said it would shift billions of dollars of capital from its investment bank in Europe and the U.S. to fund the expansion of its Asian businesses. Singapore’s DBS Group Holdings Ltd. has seen a rise in accounts for family offices.

The world’s ultra-rich have also flocked to the region to establish their wealth-management shops. Google co-founder Sergey Brin set up a branch of his family office in Singapore, while Bridgewater Associates’ Ray Dalio said in November it would open one there. Vacuum-cleaner mogul James Dyson is another who has his firm in the city-state.

©2021 Bloomberg L.P.

Let’s block ads! (Why?)



Source link

Continue Reading

Investment

5 best investment options for women – Yahoo Movies Canada

Published

 on


Investing your hard-earned money can be a daunting task, especially if you are a novice. A quick internet search can overwhelm you with numerous schemes and products and leave you confused.

To help fix your problem, we have listed five safe investment options. Scroll down to learn more:

Fixed deposits

Easily the safest and simplest, you can start here. Fixed deposits offer much higher interest rates than regular savings accounts. They have a lock-in period ranging from 7 days to 10 years. Withdrawing funds before maturity, will result in a certain amount of penalty – usually 0.5 percent to 1 percent – being charged by the bank. Some banks, however, allow premature withdrawals with zero penalty.

All banks and NBFC’s offer FDs and to invest in one, all you need to do is quickly compare the latest interest rates offered by the leading banks and then simply go to the bank’s website and open an FD account.

If you are a senior citizen, you can enjoy a slightly higher rate. There’s also a tax-saver FD covered under section 80C of the Income Tax Act that lets you invest up to Rs.150000 a year and enjoy tax savings. It has a lock-in period of 5 years.

Public provident fund

Backed by the government, it’s the second-best option for you. Returns are guaranteed and the amount invested is also deducted from taxable income of up to Re.1 lakh. But the icing on the cake is tax free returns. Can it get any better?

Annually, you can invest Rs500 to Rs.1.50 lakh. You can either invest the whole amount at one go or in over 12 instalments in a year. This makes it an ideal choice for those without a fixed source of income. The rate of interest on your investment is reset every quarter by the government in line with market rates. The current interest rate is 7.10 percent.

The lock-in period of 15 years is a bit of a dampener but the idea is to let you create a corpus for your retirement. Besides, you can always partially withdraw the funds after completion of 6 years. You can also take out a loan against your PPF account between the 3rd and 5th year.

You can open a PPF account in any Post Office in India and also in public banks and designated private banks.

Mutual funds

Stock markets are notoriously volatile. You bet right, you multiply your money. Yet, sometimes, even your best bet can go wrong wiping out every penny you invested. Overall, it’s a risky proposition and the pandemic has made it even more so.

But that shouldn’t stop you from trying it out. Mutual funds allow you to reap the benefits of the market while avoiding the downsides. They do so by reducing risk through diversification – a process in which your money is invested in various proportions between stocks, bonds and fixed deposits of different companies. When stock prices rise, you make a profit. When the market corrects itself, the bonds and fixed deposits in your portfolio will you get some fixed returns.

Experienced fund managers take care of your money, which means you needn’t have a finger on the pulse of the market. They charge a brokerage fee for it and you also have to pay capital gains tax on your profits.

There are a range of funds available in the market today. Depending upon your risk appetite, you just have to pick one. The stock heavy ones are risky but can almost double your money. The less risky ones are more into bonds and fixed deposits but guarantee you a certain return. There are also purely equity funds and debt funds.

Some funds, such as ELSS (Equity Linked Saving Schemes) allow you to save on tax.

SIPs

Systematic investment funds or SIPs offer an easier way of investing in the markets. A type of mutual fund, it lets you invest a small amount every month – it could be as less Rs.500 though most funds require a minimum of Rs.1000 investment.

This has many advantages. First, you don’t need to have a substantial saving (when you invest in mutual funds, you put in a lump sum at once). A fixed amount is debited from your bank account at regular intervals to be invested in SIPs.

Investment in SIPs is for one year minimum. If you wish to discontinue at any point, you simply need to inform 15 days prior to the payout. Your SIP will be discontinued and you can withdraw the money whenever you want. This flexibility, enables you to stem losses whenever the market is going down.

National pension scheme

Saving for retirement starts from the moment you start earning. Every month you not just set aside a certain amount but also invest it in various schemes to build a corpus for your retirement.

The government-backed national pension scheme, as the name suggests, is meant just for that. It offers various pension solutions and you can choose one to suit your requirement. For instance, you can choose to invest in equity, bonds, government securities and others, depending upon your preference. You can also let your funds be invested automatically in different assets.

Since it’s a pension scheme, the sum matures only when you reach your retirement age of 60. The accumulated interest is tax free. If you choose to withdraw the whole of it, then 40 percent of the maturity proceeds are tax free. If you opt to get it in the form of a pension post maturity, the amount will be taxed like regular income.

More stories on Women & Health and Women & Wealth — Yahoo India’s special on International Women’s Day 2021, here.

in.yahoo.com

Women’s Day 2021 | Yahoo India

Women’s Day 2021 | Yahoo India

Let’s block ads! (Why?)



Source link

Continue Reading

Investment

'Particularly concerning' that young adults with 'FOMO' trust social media for investment advice, say regulators – CTV News Vancouver

Published

 on


VANCOUVER —
Thirty-eight per cent of young adults in B.C. who experience the “fear of missing out” – commonly called “FOMO” – also think that social media is a reliable source of investing information, according to a survey from the B.C. Securities Commission.

The finding is based on a survey of 2,000 people, and has worried regulators at the province’s independent securities commission. The risks of investment fraud and FOMO is now the subject of a public education campaign, launched in time for Fraud Prevention Month.

“Results of this new research are particularly concerning because we’ve seen a surge in potentially fraudulent schemes peddled on social media during the COVID-19 pandemic,” said Doug Muir, the securities commission’s director of enforcement.

The survey defined younger adults as those under 35. The 38 per cent from that age group who experience FOMO and who agreed that social media was a good spot for investment information is in stark contrast to their peers 35 and older who don’t experience FOMO – only eight per cent of that group believes social media is a good spot for investment advice.

According to the securities commission, many younger adults and people who have FOMO say that failing to act immediately on a new investment might lead them to miss a good opportunity.

The online survey collected responses from 2,000 Canadians, including 1,000 B.C. residents, between Feb. 11 and Feb. 23, 2021 and is a representative sample.

According to a news release from the commission, the multi-media education campaign called “Hi My Name is FOMO” is designed to help B.C. residents understand the importance of doing research before investing as well as encourage them to report investment fraud to the B.C. Securities Commission.

“We also know that fraudsters put pressure on people to act quickly. It’s important to gather as much reliable information about an investment as you can before putting your money into it, and to not rush into it,” Muir said.

The survey also found that the younger a person is, the more FOMO they have, and that half of B.C. residents between the ages of 18 and 34 said they experience it, compared to just 19 per cent of those who are 55 and older.

According to the commission’s news release, a “warning sign of investment fraud is claiming that an opportunity is exclusive or available only to select people.”

However, in reality, most legitimate investment opportunities are available to anyone with the money to invest. 

“Another warning sign is rushing would-be investors, telling them they must sign now to get in on the deal,” the statement continues.

Research by the securities commission in 2018 found that young B.C. residents, particularly women, are most vulnerable to fraud. 

“Nearly half of women and more than a third of men aged 18 to 34 said they would look into an offer claiming ‘guaranteed’ returns of 14 to 25 per cent and ‘no risk’ – (both of which are) telltale signs of a fraudulent scheme.”

That stands in comparison to adults over 55, says the news release.

“Vulnerability was lowest among older respondents … only 13 per cent aged 55 and over said they would explore such an offer.”

Let’s block ads! (Why?)



Source link

Continue Reading

Trending