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Top Fertilizer Snubs BHP Billiton Offer

Filed in archive Corporations , News on August 25, 2010

Top Fertilizer Snubs BHP Billiton Offer
Potash Corp
The leading Canadian fertilizer manufacturing company Potash Corporation (POT) announced that it has officially rejected the acquisition bid of BHP Billiton (BHP). There have been talks that POT has initiated talks with other parties as China's Sinochem and Vale of Brazil.

In an official statement, PotashCorp CEO and president Bill Doyle said that the decision to decline BHP's offer was made unanimously by their board of directors. He further said, "the offer is wholly inadequate and is not in the best interests of the company, its shareholders or other stakeholders."

BHP Billiton's offer to PotashCorp shareholders was $130 per share, which Doyle said their directors found to be substantially undervaluing the company and its premier position in the industry. This, he said prompted them to urge their shareholders not to tender their shares.

Sinochem representative Li Qiang, confirmed that they have been closely watching BHP's bid on PotashCorp. However, he refused to verify whether they have had talks with PotashCorp. There have been no comments from Vale and PotashCorp regarding the matter.

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Chinese Investment in Canadian Gas

Filed in archive Investments on July 24, 2010

Chinese Investment in Canadian Gas
© dweekly
It seems that China is very keen to buy into North American shale gas. This would involve Chinese investments into Canada, too. As China demands more gas, North America has plenty of it in supply. This could drastically change the North American energy context, as Chinese companies also have plenty of cash while North American drillers need their cash. Overall it seems that China is eager to get two things that are currently accessible to North American shale gas companies. Firstly, China wants North American expertise, and secondly, it wants North American LPG. Chinese investors are enthusiastic to invest in North America, including Canada, in their search for oil. In fact, Chinese investment has helped support a number of oil companies and developers, especially as North America recovers from the global recession.

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Horticulture Sector to Receive Investment from Canada Government

Filed in archive Investments on July 24, 2010

Horticulture Sector to Receive Investment from Canada Government
© epSos.de
The Government of Canada is set to invest towards the innovative future of the Horticulture Sector in British Columbia. Specifically, these investments are intended to secure the long term profitability and viability of BC's ornamental nursery industry. The BC Landscape and Nursery Association will receive an investment of $273,000 in order to lead two major projects to help the horticulture sector. The first project is for supporting nursery growers to apply the criteria of the "Clean Plants" Domestic Phytosanitary Certification program to stop plant diseases from spreading. The second project helps assess "green roof" techniques and innovations for improved vegetation growth on rooftops. The BC Investment Agriculture Foundation suggested that these investments will help nurseries to capitalize on new market opportunities. Whereas the Government of Canada is keen to invest in order to reduce energy costs and provide consumers with higher quality products.

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Investors Worry About Bank of Canada Rate Rises

Filed in archive Recession on July 24, 2010

Investors Worry About Bank of Canada Rate Rises
© spaceodissey
The Bank of Canada is uncertain about its next move regarding interest rates. Its options are still open as to whether it will increase rates, particularly because of ambiguity regarding the recovery of the global economy. The Bank of Canada agrees with the United States Federal Reserve that the outlook for the world economy is still strangely uncertain. The bank has already raised rates twice, once on June 1 and recently on Tuesday. This has left investors worrying about whether the bank will raise rates again for a third time. However, the bank has reported that the economic recovery seems to be more prolonged than expected, especially due to the soft US recovery and the European debt crisis. The bank reported that the initial sharp economic rebound in Canada resulted from the low interest rates and fiscal stimulus that encourages consumer spending and increased housing investments.

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Two-Way Investment Between Canada & Slovakia

Filed in archive Investments on July 24, 2010

Two-Way Investment Between Canada & Slovakia
© cesarastudillo
An updated foreign investment promotion and protection agreement has recently been signed between Canada and Slovakia. As part of the agreement, Canada's Minister of International Trade, the Honourable Peter Van Loan, and Slovakia's Deputy Prime Minister, Ivan Miklos, met together to encourage this two-way investment between the two countries. The agreement is set to assure Canada's economic recovery as the commercial ties between Canada and Slovakia are strengthened. The foreign investment agreement was updated in order to comply with European Union treaty law. Further changes were requested by Canada, which improves the agreement to strengthen protection of environmental, health and safety standards. The agreement offers greater confidence to help companies to invest with stronger protection and predictability. It forms part of Canada's push to promote Canada as an investment destination.

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