News Service

  • November 12, 1999
    Bombardier Transportation and its joint venture partners Sifang, and Power Pacific Corporation Ltd., a Power Corporation of Canada subsidiary, have been awarded a C$345 million contract from the Chinese Ministry of Railways to supply 300 high-grade passenger railcars. The order includes an option for an additional 200 railcars. Bombardier announced that the partners plan to open a plant in...
  • November 12, 1999
    Prime Minister Chretien and other Commonwealth leaders have arrived in Durban, South Africa, for a four-day summit. The meeting will result in specific benchmarks and timeframes that Pakistan must meet in restoring democracy to the country. Pakistan's military leader, General Pervaiz Musharraf, has not given any indication when he plans to restore democracy.
  • November 12, 1999
    Canadian and Malaysian officials met briefly with Pakistan's deposed leader, Nawaz Sharif who has been charged by the new military government with treason - a charge which could result in life in prison or death. Canadian Foreign Affairs Minister Lloyd Axworthy said "this is the first visit that he's had since the takeover. We think this was a useful sign that (Gen. Pervaiz Musharraf) was living...
  • November 12, 1999
    Vancouver-based Teck Corporation, a diversified mining company, is considering the "absorption" of Australian gold producer PacMin Mining Corp., in which it owns 73 percent, into the newly formed gold division of the company, Teck Gold. PacMin's major asset is the Tarmoola operation in Western Australia. Teck Gold's assets include the Hemlo Mines in Ontario.
  • November 12, 1999
    Ezee-On Mfg. Ltd., a Canadian tillage manufacturer, will merge with its Australian-based distributor Dominion Rural Distribution Services. The new entity, Ezee-On Australia Pty Ltd., becomes a wholly-owned subsidiary of Ezee-On Mfg., which operates under Canadian parent company Laniuk Industries Inc, a company with a diverse range of business interests. The company is working to "finalize the...
  • November 12, 1999
    The commander of the 600 Canadian ground forces currently in East Timor said that the international peacekeeping force, lead by Australia, is slowly gaining control but that more work needs to be done before the situation is stabilized. He also said that "foreign troops will be needed to keep the peace for years to come."
  • November 10, 1999
    BHP World Explorations Inc., the Vancouver-based affiliate of BHP of Australia, plans to set up a wholly-owned subsidiary in India. The subsidiary "is for undertaking exploration and mining of various metals and minerals, except precious metals and ores." The Indian press reports that the company plans to become a a leading player in the prospecting and mining business in the country
  • November 10, 1999
    Toronto-based Mondetta Telecommunications has merged with Australia's Direct.comm Communications Ltd. In a statement, Direct.comm said that the new company will target multicultural markets around the world offering long distance, local exchange, and Internet access.
  • November 10, 1999
    The Canadian International Development Agency (CIDA), working with Vietnam's Ministry of Science, Technology and Environment and several agencies, will provide more than C$9.6 million to improve waste management capacity in Vietnam, Laos, and Cambodia. The project will begin next year and is expected to take five years.
  • November 9, 1999
    Calgary-based Zi Corporation has announced the acquisition of Beijing Oz Education Network Inc. as it expands further into the Chinese market. The company has recently signed a number of contracts in China. Beijing Oz develops and distributes Internet-based education material for elementary schools and job training centers and is currently working with China Central Radio and Television...
  • November 9, 1999
    Montreal-based SR Telecom Inc., a company that designs, manufacturers and installs digital wireless access products, signed a C$150 million contract with the Philippine government for the engineering and supply of fixed wireless telephone networks. SR Telecom has been delivering equipment and services to the Philippines since 1991.
  • November 9, 1999
    The Canadian International Development Agency announced that it will contribute C$100,000 to help flood victims in Vietnam. The contribution will be given to the International Committee of the Red Cross and will go to providing basic necessities -- clean water, plastic sheeting, blankets and emergency food supplies.
  • November 9, 1999
    The International Development Research Centre (IDRC) has signed a scientific and technological cooperation agreement with China's Ministry of Science and Technology - a continuation of the 18 years of cooperation between the two organizations. Under the recently signed agreement, IDRC will continue to provide financial and technological support to a range of China's research programs, symposiums...
  • November 8, 1999
    Secretary of State (Asia-Pacific) Raymond Chan is leading a trade mission to China this week. "China, with its population of 1.2 billion people, represents a valuable market for our goods and services," said Mr. Chan. "I am pleased to travel with representatives of 35 companies that are ready to contribute outstanding technology and expertise to China's development." During the mission, Mr. Chan...
  • November 8, 1999
    Shandong Airlines has announced that it has purchased five Canadair Regional jets from Bombardier Aerospace. The contract is worth US$116 million. The president of Shandong Airlines said that the aircraft will be used for expansion and growth on its regional routes in the country. Shandong Airlines, Bombardier Aerospace, and Canadian Aviation Electronics Ltd. (CAE) also set up a joint venture...
  • November 8, 1999
    Sun Life Assurance Company has officially opened its second representative office in China - in Chonqing. The office was established in May 1998 but did not receive formal approval from the China Insurance Regulatory Commission until earlier this year. The Chinese press noted that the company's activities in China have been targeted toward "government liaison, market research and initiatives to...
  • November 8, 1999
    Sanyo Electronic Co has announced that it has signed a business collaboration agreement with a unit of AGRA Inc - Agra Earth and Environmental Ltd. Under the agreement Sanyo will send engineers to Agra Earth and Environment to obtain expertise on the environmental assessment and cleanup business. Sanyo also said that Agra will map out programs to deal with environmental pollution and manage clean...
  • November 5, 1999
    Manulife Financial Corp, a Toronto-based life insurer, has announced that it expects its annualized new premiums to grow more than 20% in Asia (excluding Japan), during the next year. The company's operations in Asia have normally contributed about 15% of its total profits, with Hong Kong accounting for most of its Asian earnings.
  • November 5, 1999
    The extradition proceedings against Rakesa Saxena, who fled to Canada after being accused of embezzling C$89 million during his tenure as treasury advisor at the Bangkok Bank of Commerce, are expected to wrap up soon. The British Columbia Supreme Court is expected to examine evidence from the Thai authorities backing their request for Mr. Saxena's extradition back to Thailand on November 22nd....
  • November 5, 1999
    India's public sector National Hydroelectric Power Corperation (NHPC) has made a pact with Export Development Corporation of Canada (EDC)for a C$175 million loan facility. The loan will be used to help finance Canadian goods and services for stage II of the 300MW Chamera hydroelectric power project in Himachal Pradesh. The project is expected to be formally commissioned in 2004.

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