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Mar 13, 2015

Canadian existing homes sales rose in February -CREA

TORONTO, March 13 (Reuters) – Sales of existing homes in
Canada rose in February from January as gains in the biggest
markets of Toronto and Vancouver offset a faltering market
everywhere else, the Canadian Real Estate Association said on

The industry group for Canadian real estate agents said
sales activity was up 1.0 percent last month from January, the
first monthly increase since October. Actual sales for February,
not seasonally adjusted, were up 2.7 percent from February 2014.

Mar 12, 2015

Canada home prices struggle, correction seen in some markets

TORONTO, March 12 (Reuters) – Prices for new homes in Canada
fell for the first time in nearly five years in January, and
figures for home resales in February showed a correction
underway in several markets with prices scratching out just a
slight gain nationally.

Another report on Thursday showed Canada’s household
debt-to-income ratio rose to a record high in the fourth
quarter, making consumers more vulnerable just as some
economists say the housing market is at a tipping point.

Mar 11, 2015

Canadian police say man on high-risk watch list fled country

TORONTO (Reuters) – A Canadian man who was on a police watch list for high-risk travelers has left the country illegally and is being sought for arrest, police said on Wednesday.

Mohamed El Shaer is one of about 90 high-risk travelers the Royal Canadian Mounted Police has been watching because of what it says are their ties to foreign fighters or terrorist groups. He left Canada without a valid passport after being released from jail in mid-January, the RCMP said.

Mar 10, 2015

IPO plan for Ontario’s Hydro One in works -report

TORONTO, March 10 (Reuters) – Ontario’s Liberal
government is crafting a plan to sell shares in provincially
owned electrical utility Hydro One in its bid to fund upgrades
in transit and transport infrastructure, the Globe and Mail
reported on Tuesday.

The story, which cited unnamed government and industry
sources, said under the proposal the province would float 10
percent to 15 percent of Hydro One in an initial public
offering, and possibly follow with additional stock sales that
would further reduce its stake.

Mar 5, 2015

Missing Canadian pastor being held by North Korea: church

TORONTO (Reuters) – North Korea has detained the head pastor of one of Canada’s largest congregations, who went missing during a regular humanitarian mission last month, a church spokeswoman said Thursday.

Reverend Hyeon Soo Lim, 60, from the 3,000-member Light Korean Presbyterian Church in Toronto, was last heard from on Jan. 31, church spokeswoman Lisa Pak said.

Mar 4, 2015

Canada’s Harper: economy will continue to grow despite oil slump

TORONTO, March 4 (Reuters) – The Canadian economy will
continue to grow despite a sharp fall in the price of oil, but
there is plenty of concern in the energy-producing province of
Alberta, Prime Minister Stephen Harper said on Wednesday.

Harper, speaking to reporters after an event in Toronto,
also repeated a promise that his Conservative government would
balance the budget in the 2015-16 fiscal year. Canada is a major
oil exporter.

Mar 2, 2015

Canadian pastor missing after aid trip to North Korea

TORONTO (Reuters) – A head pastor of large Canadian church has failed to return from a humanitarian mission to North Korea, and the Canadian government has reached out to try to locate him, his Toronto-based church said on Monday.

Reverend Hyeon Soo Lim, 60, has made hundreds of trips to North Korea, where he helps oversee a nursing home, a nursery and an orphanage in the Rajin region, said Lisa Pak, a spokeswoman for the Light Korean Presbyterian Church in suburban Toronto.

Feb 20, 2015

TSX lower as weak financials offset gold strength

TORONTO, Feb 20 (Reuters) – Canada’s main stock index
slipped on Friday as grim domestic economic news and prospects
for another interest rate cut weighed on financials, offsetting
strength in gold stocks and a surge in drugmaker Valeant
as it closes in on a deal to buy Salix.

Retail sales fell by the most in four years in December,
data showed, with subdued holiday shopping and cheaper oil
accounting for the surprise 2 percent drop.

Feb 17, 2015

Canadian home sales fall again, seller ‘sense of panic’

TORONTO/CALGARY, Feb 17 (Reuters) – Sales of existing homes
in Canada slipped further in January as the drop in oil prices
hurt homebuyer demand in western Canada, the Canadian Real
Estate Association (CREA) said on Tuesday, with one analyst
saying seller panic has set in.

The industry group for Canadian real estate agents said
sales activity was down 3.1 percent last month from December,
the third consecutive monthly decline.

Feb 12, 2015

Canadian home prices rise, but momentum slowing

TORONTO, Feb 12 (Reuters) – Canadian home prices rose in
recent months, with resale prices up in January after two months
of declines and the price of new homes up in December for the
fourth straight month, separate reports showed on Thursday.

Prices for repeat sales of single-family homes showed
national home prices rose 0.2 percent last month and were up 4.7
percent from a year earlier, according to the Teranet-National
Bank Composite House Price Index.