The Asian Star_May 16_2015

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www.theasianstar.com Vol 14

Issue 16 Saturday, May 16, 2015

Tel: 604-591-5423

All the news you need and more... re... Volvo will build a new plant

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PM Harper, Premier Clark will not stop foreign investment in real estate

Aligning policies - BC Premier Christy Clark and PM Stephen Harper

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rime Minister Stephen Harper and BC Premier Christy Clark do not plan to restrict foreign investment in real estate -whether locals can afford to buy houses here or not. The two were responding to a petition requesting that foreign investors be restricted from buying residential houses so that locals will be able to afford to buy the houses. But the two leaders were having one of it. On Thursday, both Clark and Harper rejected the idea of such restrictions. Harper said limiting foreign investment in housing is not something he is “contemplating at the current time.� B.C. Premier Christy Clark, meanwhile, acknowledged that restricting foreign investors would cause prices to drop, but she won’t consider restrictions. “In terms of a tax on foreign buyers, people who already own homes are often a little bit concerned about that idea because it would probably mean a big reduction in the equity they own in the home,� Clark said earlier this week. “By trying to move foreign buyers out of the market, housing prices overall will drop -that’s good for first-time homebuyers, but Continued on page 6

A graphic shows that Translink already gets a lion’s share of gas tax, but now wants more

Transit referendum reaches final phase The Metro Vancouver transit referendum reached its final stage at midnight

last night, which was the deadline to request ballots from Elections BC. Continued on page 4

14-year-old Indian-American wins National Geographic Bee

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aran Menon, a 14-year-old Indian-origin boy, answered questions about places from Tashkent to Telangana to win the National Geographic Bee championship here with the top three positions going to Indian-Americans. Menon bagged the championship by answering Karan Menon (right) celebrates after his win. the final question: If built, the proposed Grand Inga Dam would be young finalists, seven of them of Indian the world’s largest hydroelectric dam. Near origin, from across the US, in grades four the Inga Falls, it is on which African river? through eight, for a trip to the Galapagos Menon’s winning answer: the Congo. “I’m Islands and $85,000 in college scholaron top of the world right now,� said the ships. Menon bested runner-up Shriya New Jerseyite, who competed against 10

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