The Asian Star March 10 2018

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www.theasianstar.com Vol 17 - Issue 6

Saturday, March 10, 2018

Tel:604-591-5423

‘Shocked and devastated’ Atwal says he’s no terrorist

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aspal Atwal, a man convicted of attempted murder for his role in an attack on an Indian politician, said today he’s not a terrorist and is sorry for any “embarrassment” his invitation to an event at the Canadian High Commission in India might have caused. When photographs surfaced of Atwal posing with Canadian officials in Mumbai, media in India and

Why is Premier Horgan afraid to ban foreigners from buying real estate in BC? Umendra Singh

The CEO of Canada’s largest bank says that foreign cash is like gasoline on Vancouver’s overheated real estate market. And David McKay, while speaking at a bank conference in New York this past week, called for the government to clamp down on foreigners investing in residential real estate in Vancouver and rest of Canada. However, BC’s NDP Premier John Horgan, like his predecessor, Liberal Continued on page 4

Vancouver gas prices highest in North America A “perfect storm” of factors including a taxed Trans Mountain pipeline have saddled Metro Vancouver with gasoline prices at $1.50, among the highest prices in North America, according to analysts. “It’s pretty much an outlier in the Canadian market,” Jason Parent, vice-president of the Kent Group, a downstream petroleum consulting company, said of the Vancouver region. The Kent Group’s daily pump price survey pegged Vancouver at $1.50, with Victoria running behind at $1.41. By

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Canada asked how the convicted criminal was able to obtain a travel visa and secure invitations to formal events linked to Prime Minister Justin Trudeau’s official tour. Speaking to reporters in Vancouver Thursday, Atwal said he has “nothing but regret and remorse” for his role in the 1986 attack on an Indian minister of state, adding he is no longer a supporter of the Sikh

independence movement. Atwal read from a prepared statement and refused to answer questions from reporters, leaving those to his lawyer. “I, like the vast majority of Sikhs who once advocated for this cause, have reconciled with the nation of India,” Continued on page 2

Foreigners using Canadian homes as piggy banks - RBC CEO Foreign cash is ‘gasoline’ on Vancouver’s housing market Foreign inflows are distorting Canada’s already constrained housing market and aren’t the kind of investment the country needs, the chief executive officer of Royal Bank of Canada said. “We do not need foreign capital using Canadian real estate as a piggy bank,” David McKay, said Tuesday at a bank conference in New York hosted by the Toronto-based

lender. “If capital is coming in to sit in a home, unproductively, and is distorting your marketplace and the livelihood of your residents — no thank you.” McKay, whose bank is Canada’s largest mortgage lender, says he’s supportive of government taxes and other measures targeting foreign buyers, as well as other regulatory Continued on page 7

Canada lent an NRI family $41 million to buy a luxury jet, which is now missing

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f you spot a sleek Bombardier Global 6000 business jet sporting tail number ZS-OAK, the federal government would love to hear from you. The jet belonged to South Africa’s notorious Gupta family, whose alleged corruption helped trigger the scandals that recently forced President Jacob Zuma out of office. But the Guptas bought the plane with help from a $41-million loan from Export Development

Canada, or EDC. EDC was helping Bombardier Inc., the Montreal aerospace firm, land the jet sale. But that turns out to have been a poor bet: EDC now says the family defaulted on the loan in October and still owes the bank $27 million. And with an arrest warrant outstanding for Ajay Gupta, one of three brothers in the family, there are other worries, too. “There is a Continued on page 7

Daylight saving time Springs ahead this Sunday

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f it feels like you’re about to wake up and spring might be close, it’s because daylight saving time is right around the corner. This year, daylight saving time begins on

Sunday, March 11 at 3am PT and ends on Sunday, Nov. 4 at 2 am PT. That means you should turn your clocks one hour ahead on Sunday morning.


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