The Asian Star August 4 2018

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www.theasianstar.com Vol 17 - Issue 27

Saturday, August 4, 2018

India, the world’s fastestgrowing economy, has momentum The world’s fastest growing major economy is showing signs of a recovery in animal spirits, suggesting India’s mid-term outlook can weather global trade tensions and emerging market strains. A cross section of forward-looking indicators compiled by Bloomberg News show largely positive signs. Sentiment in the manufacturing and services sectors -- both of which make up nearly 80 percent of the $2.6 trillion economy -- rebounded in June, with new orders picking up pace. Bank loan disbursals are growing while auto sales -- a barometer of overall demand Continued on page 6

PICS Mega Job Fair PICS held its annual mega job fair & business expo at North Surrey Recreation Centre. Pictured is Satbir Singh Cheema, PICS CEO (right) with participants.

Protest against illegal border crossers ends in voilence From the moment a protester grabbed a counter-protester’s megaphone and hurled it into the fountain of the Markham Civic Centre, Saturday’s demonstration against illegal border crossings and their effect on suburban Toronto degenerated quickly into violence and anger. Police arrived to separate men who had thrown a few punches, and others who seemed about to, including one man who was Canadians protesting against illegal border crossers in Ontario pushing another as he held up a sign reading “Not In My Back Yard,� according to video captured by Ming Pao Daily News. It was a small rally of a few dozen mainly ChineseCanadian protesters in Markham, a city northeast of Toronto, Continued on page 6

Welfare ‘cheque week’ brings a one-day spike in overdose calls Paramedics in British Columbia responded to 130 suspected overdose calls last Friday, matching a single-day record reached only once before and serving as a reminder that the province’s overdose crisis remains largely uncontrolled more than five years after the arrival of illicit fentanyl. Premier John Horgan said the fact that not one of the 130 calls resulted in a fatality speaks to the professionalism of B.C.’s first responders. “I’ve had the experience of going on the [ride-alongs] with the paramedics in Vancouver; I’ve also been at the safe-injection site – the Insite facility – and actually watched calm, capable people bring someone back to life,� Mr. Horgan said in Victoria.“To think that that happened 130 times last week, on one day, Continued on page 7

Metro Vancouver housing ‘in the dumps’ as sales hit 18-year low The last time Vancouver’s housing market was this weak, Bill Clinton was in the White House and the Baha Men were singing “Who Let The Dogs Out.� Those hoping for a quick recovery in the region’s sputtering housing market had their hopes dashed by the latest data from the real estate industry. Home sales in the area fell to their lowest level since 2000, the Real Estate Board of Greater Vancouver (REBGV)

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reported Thursday, with all housing types registering declines. That means sales are even lower today than they were during the 2008-09 financial crisis, when Canada’s housing markets were hit by a brief but sharp slowdown. “With fewer buyers active

in today’s market, we’re seeing less upward pressure on home prices across the region,� REBGV president Phil Moore said in a statement. “This is most pronounced in the detached home market, but demand in the townhome and apartment markets is also relenting from the more frenetic pace experienced over the last few years.� Continued on page 7

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