Best Regards,

Denis Hrstic
AWESOME REALTOR® http://www.MyHomeAgent.ca

Harper will meet President Hu Jintao in China next month, when he may tout Enbridge Inc.’s proposed Northern Gateway pipeline that would let crude flow to Asia from Alberta’s oilsands via a Canadian port.

“The Keystone decision was a slap in the face to Canada and it’s making Canadians rethink the relationship,” said Jack Mintz, head of the School of Public Policy at the University of Calgary. “Harper probably wants to put out a sign that we’re open for business for Asia.”

Harper is pushing energy exports to Asia to reduce the country’s reliance on the U.S. and make Canada a global energy “superpower.” Tapping markets in Asia may raise the price received by Canadian producers by $13.60 a barrel by 2030, according to a University of Calgary study. About 99 percent of Canada’s crude exports go the U.S.

‘Profound Disappointment’

Harper expressed his “profound disappointment” Jan. 19 after the U.S. rejected Keystone, telling Obama that Canada will “continue to work to diversify its energy exports,” according to details provided by Harper’s office.

Efforts to boost support for selling oil to China may be having an impact. Opposition to the Northern Gateway pipeline has weakened in recent weeks, according to a survey by Toronto- based Forum Research.

The share of Canadians who oppose the plan has fallen to 43 percent in a poll conducted Jan. 13, down from 51 percent in a December survey. Support for the project increased to 37 percent from 35 percent. The percentage of those who say they are unsure rose to 20 percent from 15 percent. The poll of 1,211 Canadians has a margin of error of 2.8 percent.

“It looks like a group of people are giving it a second look,” Lorne Bozinoff, president of Forum Research, said in a telephone interview, adding Harper may have “got people thinking.”

‘Tremendous Opportunity’

“If you look at the nature of the U.S. recovery right now, our exports are $30 billion lower than they otherwise would be,” Carney said in a Jan. 22 interview on CTV Television’s Question Period. “The Chinese market is a tremendous opportunity for Canada. We’re under-represented there relative to other countries.”

Canada’s benchmark stock index lagged behind the S&P 500 last year for the first time since 2003, as producers of raw materials and energy dropped on concern that slow global growth will limit demand for commodities and erode their prices. The industries make up about 47 percent of Canadian equities by market value, according to data compiled by Bloomberg.

‘Horrible Precedent’

Canada has already begun regulatory hearings on Enbridge’s proposed Northern Gateway pipeline. CEO Pat Daniel said the U.S. rejection was “horrible for our industry and it’s a horrible precedent. It will only embolden those opposed to Gateway and other new project developments.”

Canada “can continue to be supportive as they always have” on Northern Gateway, Daniel said Jan. 19 at a conference in Whistler, British Columbia. The federal government has “done a good job calling out the issues around the regulatory process.”

Harper has said building the capacity to sell the country’s oil to Asian markets is in the national interest, and the government will aim to speed the regulatory-approval process for large energy projects. Harper has also said “foreign money” from environmental groups is being used to try to influence regulators.

‘Red Herring’

“This contrived funding ‘debate’ is a red herring,” Merran Smith, director of Tides Canada’s Energy Initiative, said in a Jan. 10 statement. Natural Resources Minister Joe Oliver has cited Tides Canada as a group that’s channeling U.S. money to pipeline opponents.

Regulators have received 4,507 requests by individuals to testify at public hearings on the project that began this month. Environmental and aboriginal groups say the project will increase the risk of an oil spill off the coast of British Columbia. The regulatory panel reviewing the pipeline last month pushed back its timeline for reaching a decision to the end of 2013.

Largest Acquisitions

Two of the largest acquisitions of Canadian oil and gas companies last year were driven by Chinese companies. In October, China Petroleum and Chemical Corp., Asia’s biggest refiner also known as Sinopec, agreed to buy oil and gas producer Daylight Energy Ltd. of Calgary. In July, Cnooc Ltd., China’s largest offshore oil explorer, bought Calgary-based Opti Canada Inc. to expand its oil-sands reserves. Both deals totaled more than $2 billion each.

“China’s energy security isn’t simply about shipping oil back to China,” said Wenran Jiang, political science professor at the University of Alberta and senior fellow at the Asia Pacific Foundation of Canada. “There’s also trying to increase overall global supply of oil to help manage price and supply.”

Investments Welcome

Harper may seek to provide assurances that additional investments will be welcome during his trip to China. In a Sept. 21 interview with Bloomberg, Harper said he welcomed investment by China as long as such acquisitions are “economic in nature and don’t have other strategic or political objectives.”

The challenge for Harper and China may be to assuage any concerns in the U.S. that Canada is getting too cozy with the Asian power. Harper acknowledges the U.S. will remain Canada’s dominant trading partner for “many years to come.”

 

Specifically, the report adjusts a September forecast to show slower growth this year in Ontario, Quebec and B.C., while also adjusting for faster growth in Alberta, Saskatchewan and Nova Scotia.

“The corresponding revision to our provincial outlook was unevenly distributed among provinces, but all regions are vulnerable to the uncertainty and volatility expected over the next six months,” said Marcil. “These headwinds will likely intensify at a time when constrained public finances leave very few tools available for Canadian governments to stimulate demand, or at least restore confidence.”

Alberta is expected to see Canada’s strongest employment growth, up 1.5% this year, compared to 0.8% nationally. It was already up 3.7% in Alberta last year. While unemployment will rise from 7.4% nationally last year to 7.6% this year, Alberta will replace Saskatchewan as the province with the lowest rate, at 5%.

“Saskatchewan, which usually acts as a responsive pool of spare workers for Alberta, is failing to do so currently because its economy is performing nearly as well as Alberta’s,” said Marcil.

Overall economic growth, based on real GDP, will increase most in Alberta, up 2.6%, followed by 2.4% in Saskatchewan. Nationally, it will rise just 1.7% this year, following a 2.4% gain last year.

The real estate markets in Vancouver and Toronto, however, are expected to hinder economic growth in their respective provinces, said the report. Toronto will be especially affected by its recent growth in condo developments, said Marcil.

“In addition to the growing pipeline of supply, the knock-on effects of financial market volatility to buyer confidence will likely result in a cooling down in condominium sales in the region in 2012 and 2013,” he said.

Tim Logel, president and partner of Cardel Lifestyles in Calgary, said there was a pent-up demand of buyers in the local market at the end of the year and more buyers are now coming forward.

Multi-family permits over the past five years have reached 850 for the local builder, tops in the city.

In the existing home sales market, the TD Economics report forecasts sales to increase by 0.5 per cent in Alberta in 2012 to 53,300 transactions and then dip by 2.7 per cent in 2013 to 51,900.

This after a 6.6 per cent hike in sales in 2011 to 53,000 transactions.

TD Economics forecasts the average existing home price to remain unchanged in Alberta in 2012 at $355,900 after increasing by 1.1 per cent in 2011 to $356,100. But the average is expected to fall by 2.5 per cent in 2013 to $347,200.

Across Canada, the report said the average existing home price would fall by 1.9 per cent in 2012 to $357,100 and decline by 3.6 per cent in 2013 to $344,200. In 2011, it rose by 7.5 per cent to $364,100.

“The centre will be approximately 1.3 million square feet and will sit on just under 80 acres,” she said. “Target has selected sites for its distribution centres that will help to ensure that our supply chain needs are met for our Canadian stores. Target intends to open its first stores in March/early April 2013 and its distribution centres will be completed in time to support the needs of the stores.”

“They will manage all recruitment and hiring and will communicate those needs and plans with local communities in the coming months,” added Snyder.

The centre will be located off of Range Road 291, east of Nexen’s Balzac Power Station.

Earlier this week, Target announced the location of its first 24 stores in Canada. As previously announced, Target purchased the leasehold interests of 189 sites currently operated by Zellers Inc., and plans to open 125 to 135 stores in Canada, the majority of which will open in 2013.

Target intends to announce additional store locations in the coming months.

Minneapolis-based Target has 1,767 stores across the United States.

Calgary Target locations will be at Chinook Centre, Forest Lawn Shopping Centre, Market Mall, the Shoppes at Shawnessy, Signal Hill Centre and Sunridge Mall.

“It just really speaks to the critical mass that has already been achieved, that has been built — the synergies that are achieved and the importance of the sector to Calgary and the region,” he said.

The region’s road network, with access from highways and the ring road, is one of the primary reasons for the growth in the sector, he said.

“Each company has its own criteria and determines the kind of facility and the location that works best for them,” said Dixon. “That was the basis of the Target decision. But it’s very much part of the northeast, the airport development pattern. And it’s complemented by what’s happening in the southeast which is more rail-oriented at the CP logistics and intermodal yard.”

Construction of the project’s first phase — a 1.1-million-square-foot, 49-storey office tower on 8th Avenue S.W. — began in December 2007. The next phase will add a second tower of 38 storeys and 785,000 square feet of office space to the complex, located at the former site of the Penny Lane block.

More Great News for Calgary. We are looking at steady ecomomic growth for the next 5 years

Hottest Economies in Canada are in Calgary, Edmonton, Regina, Saskatoon

It also forecast Calgary’s economic growth rate to average 4.1 per cent between 2012-2015.

A widely followed gauge for small business sentiment in Canada showed that confidence among small to medium-sized companies in the country has reached its highest level since 2005.

 

The Canadian Federation of Independent Business released April readings for its Business Barometer Wednesday, showing that the index climbed to 70.7, rising above 70 for the first time since 2005. A reading above 50 indicates that owners expecting their businesses to see stronger performance next year outnumber those expecting weaker performance.

Several provinces recorded sentiment significantly higher than the average. The confidence reading for Saskatchewan came in at 76.7, while runner up Alberta saw a reading of 75.1. Manitoba had the third highest reading at 74.3.

 

Read More: http://business.financialpost.com/2011/05/04/national-small-business-confidence-highest-since-2005/

Best Regards,

 

 

Denis Hrstic
Investment REALTOR®   http://www.MyHomeAgent.ca

..................................................................
Direct: 403-852-6583 | Office: 403-271-0600 | Fax: 403-592-8831

CIR REALTY 103,11012 Macleod Tr S Calgary, AB T2J6A5

"Canadians believe in the long-term benefits of owning a home, including the value it can provide, both personally and as a long-term investment," said Marcia Moffat, RBC's head of home-equity financing.

However, in the Calgary census metropolitan area, the unemployment rate rose to 6.3 per cent in February from 6.0 per cent in January as 4,400 new jobs were created in the month. From February 2010 to February 2011, employment in the Calgary CMA has increased by only 1,400 jobs.

"With a few more months of even reasonably strong growth, we will definitely be back to record levels of employment in the province and that's what we've been expecting to see in 2011."

Elsbeth Mehrer, director of research, workforce and strategy at Calgary Economic Development, said the jobless rate in Calgary rose in February because the labour force number is growing. According to Statistics Canada, the labour force in the Calgary region grew by 6,200 people on a monthly basis.

Nationally, employment edged up in February by 15,100, bringing total gains over the past three months to 115,000. The unemployment rate remained unchanged at 7.8 per cent. The federal agency said that over the past 12 months, employment has risen by 1.9 per cent (321,700).

"Compared with February 2010, when Alberta was near its employment-low following the labour market downturn, employment has grown by 3.4 per cent, well above the national rate of 1.9 per cent," the federal agency said.

mtoneguzzi@calgaryherald.com