QUÉBEC CITY, Nov. 10, 2020 /CNW Telbec/ – The Minister Responsible for Indigenous Affairs, Ian Lafrenière, today announced that the government is investing $3.1 million in Joliette, to enable the relocation and enlargement of the Centre d’amitié autochtone de Lanaudière (CAAL).
Construction of the new centre should be completed in the autumn of 2022. The premises will be more spacious and will enable the organization to broaden its range of services. In particular, the CAAL plans to arrange:
Consultation offices and a community room and kitchen;
Spaces to promote Indigenous history, arts and cultures;
Spaces for social economy activities;
Spaces that can be shared with partners;
Rooms dedicated to the CAAL’s Mirerimowin clinic;
A residential annex
An early childhood centre (CPE), a child-minding service and a playroom;
Administrative offices.
It will be recalled that the CAAL is an Indigenous community organization founded in 2001. Its mission is to improve the living conditions of Indigenous people living in or passing through the Joliette region by providing a number of support services, assistance and information through programs specially designed for Indigenous families.
Quotes:
“Our aim, with the relocation and enlargement of this centre, is first to provide Atikamekws and members of other Indigenous nations with a place that is pleasant to visit, that fulfills their needs, and where they will be welcomed with respect and benevolence. This is the kind of initiative that gives my work its full meaning – at any rate the meaning that I intend to give it, which is: to take concrete action for the Indigenous people of Québec, as is the case with this investment, the second in my ‘I hope’ plan.”
Ian Lafrenière, Minister Responsible for Indigenous Affairs
“We are very pleased with the announcement of this generous investment. The construction of a new Friendship Centre in Lanaudière that is bigger and more open will enable us to provide a space in keeping with the quality of services that our members deserve. The Indigenous population of the region will feel warmly welcomed, with dignity, and will find a response specifically adapted to their needs.”
Jennifer Brazeau, Executive Director of the Centre d’amitié autochtone de Lanaudière
SOURCE Cabinet du ministre responsable des Affaires autochtones
For further information: Source: Mathieu Durocher, Press Officer, Office of the Minister Responsible for Indigenous Affairs, Tel.: 418 528-8407; Information: Jean Auclair, Media Relations, Direction des communications, Ministère du Conseil exécutif, Tel.: 418 643-2001, ext. 4064
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.
