Regulator takes control of Silicon Valley Bank's Canadian branch
A Canadian regulator on Sunday said it was taking temporary control of Silicon Valley Bank’s Canadian branch, as the fallout from the collapsed U.S. startup-focused lender reverberated around the world.
The Office of the Superintendent of Financial Institutions (OSFI) said it is seeking to gain permanent control of the Canadian unit’s assets, adding that it is asking the attorney general of Canada to petition for a winding-up order.
OFSI said the bank has operated in Canada since 2019 as a foreign bank branch based in Toronto. Its business in Canada is primarily lending to corporate clients, and the branch does not hold any commercial or individual deposits in Canada.
The Canadian unit had C$435 million in secured loans at the end of last year, more than double the amount at the end of 2021, according to regulatory filings.
🍁 Maple Chronicles
A Canadian regulator on Sunday said it was taking temporary control of Silicon Valley Bank’s Canadian branch, as the fallout from the collapsed U.S. startup-focused lender reverberated around the world.
The Office of the Superintendent of Financial Institutions (OSFI) said it is seeking to gain permanent control of the Canadian unit’s assets, adding that it is asking the attorney general of Canada to petition for a winding-up order.
OFSI said the bank has operated in Canada since 2019 as a foreign bank branch based in Toronto. Its business in Canada is primarily lending to corporate clients, and the branch does not hold any commercial or individual deposits in Canada.
The Canadian unit had C$435 million in secured loans at the end of last year, more than double the amount at the end of 2021, according to regulatory filings.
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🚫Ontario considers banning TikTok in public schools
Minister of Education Stephen Lecce said that he spoke with senior ministry officials about the matter.
“I am concerned by what is happening in schools with the proliferation of this technology. Frankly both for the mental health and physical health of children,” Lecce said.
A spokesperson for TikTok, however, has criticized the government for taking an "extreme approach" and blindly following "the baseless trend of blocking TikTok."
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Minister of Education Stephen Lecce said that he spoke with senior ministry officials about the matter.
“I am concerned by what is happening in schools with the proliferation of this technology. Frankly both for the mental health and physical health of children,” Lecce said.
A spokesperson for TikTok, however, has criticized the government for taking an "extreme approach" and blindly following "the baseless trend of blocking TikTok."
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Two dead and nine injured after truck hits pedestrians in Quebec
Two men have died after a pickup truck ploughed into pedestrians beside a road in the eastern Quebec town of Amqui.
A provincial police spokeswoman said nine other people were injured, including two whose injuries are considered serious.
The 38-year-old driver, a local resident, turned himself in to police and was arrested under suspicion of committing a fatal hit and run.
The incident happened just after 3pm along St-Benoit Boulevard in Amqui, a town about 350 km northeast of Quebec City.
#Quebec
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Two men have died after a pickup truck ploughed into pedestrians beside a road in the eastern Quebec town of Amqui.
A provincial police spokeswoman said nine other people were injured, including two whose injuries are considered serious.
The 38-year-old driver, a local resident, turned himself in to police and was arrested under suspicion of committing a fatal hit and run.
The incident happened just after 3pm along St-Benoit Boulevard in Amqui, a town about 350 km northeast of Quebec City.
#Quebec
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🇨🇦🇨🇳China diverts some researchers to Canada after U.S. visa denials, CSIS says
▪️Beijing is using a “workaround strategy” for postgraduate researchers to study cutting-edge technology at Canadian and U.S. universities after Washington began denying visas for some Chinese students on the grounds that they might steal intellectual property with military uses, according to a Canadian Security Intelligence Service (CSIS) report.
▪️The CSIS report lays out how China is using students to obtain technology that could be of benefit to the Chinese military, such as quantum computing, big data and artificial intelligence. The report was shared across key government departments and with the CIA, FBI and Britain’s domestic intelligence service, M15, as well as Australian and New Zealand authorities.
▪️Chinese citizens are also switching their majors when moving to Canada so they end up studying in less-sensitive fields where their work would not attract scrutiny.
▪️CSIS has publicly warned that Beijing is threatening Canada’s national security and intellectual property in five sensitive areas of research and development, including quantum theory, photonics, artificial intelligence, biopharmaceuticals and aerospace.
#China
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▪️Beijing is using a “workaround strategy” for postgraduate researchers to study cutting-edge technology at Canadian and U.S. universities after Washington began denying visas for some Chinese students on the grounds that they might steal intellectual property with military uses, according to a Canadian Security Intelligence Service (CSIS) report.
▪️The CSIS report lays out how China is using students to obtain technology that could be of benefit to the Chinese military, such as quantum computing, big data and artificial intelligence. The report was shared across key government departments and with the CIA, FBI and Britain’s domestic intelligence service, M15, as well as Australian and New Zealand authorities.
▪️Chinese citizens are also switching their majors when moving to Canada so they end up studying in less-sensitive fields where their work would not attract scrutiny.
▪️CSIS has publicly warned that Beijing is threatening Canada’s national security and intellectual property in five sensitive areas of research and development, including quantum theory, photonics, artificial intelligence, biopharmaceuticals and aerospace.
#China
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🏦Canada to begin daily check-ins with banks following SVB collapse
Canada's banking regulator, OSFI, is reported to be increasing monitoring of the financial standing of domestic banks after the SVB collapse in the US.
The report adds that OSFI has took steps to start daily check-ins with banks to monitor their liquidity.
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Canada's banking regulator, OSFI, is reported to be increasing monitoring of the financial standing of domestic banks after the SVB collapse in the US.
The report adds that OSFI has took steps to start daily check-ins with banks to monitor their liquidity.
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Most Canadians don't know how much the prime minister earns, survey finds
A survey conducted by Research Co. among 1,000 Canadians shows that:
🔹18 % correctly said that the prime minister makes between $301,000 and $400,000 annually. Trudeau’s salary this year is $379,000.
🔹42 % of people thought the prime minister’s annual salary was less than $301,000.
🔹24 per cent believed Trudeau made more than $400,000 each year.
🔹Once respondents were informed about the annual compensation of the prime minister, 41 % of them said they believed it is “too much,” while 47 % stated that it is “about right.”
#Trudeau
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A survey conducted by Research Co. among 1,000 Canadians shows that:
🔹18 % correctly said that the prime minister makes between $301,000 and $400,000 annually. Trudeau’s salary this year is $379,000.
🔹42 % of people thought the prime minister’s annual salary was less than $301,000.
🔹24 per cent believed Trudeau made more than $400,000 each year.
🔹Once respondents were informed about the annual compensation of the prime minister, 41 % of them said they believed it is “too much,” while 47 % stated that it is “about right.”
#Trudeau
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🇬🇧Canadians uninterested in King Charles’ coronation, British monarchy, survey suggests
New polling results suggest Canadians are largely indifferent to King Charles, and more than half believe his May 6 coronation is the right time for the country to reconsider its ties with the monarchy.
The web survey of 1,544 adults was conducted by market research firm Leger.
▪️Only 12 per cent of respondents said it was good news that Charles is now King, compared to 14 per cent who said it was bad news and 67 per cent who were indifferent.
▪️Only 13 per cent of those surveyed said they felt a personal attachment to the monarchy, compared with 81 per cent who didn’t.
▪️The survey found the level of attachment to the monarchy has dropped since the days immediately following Queen Elizabeth’s death last September, when 19 per cent said they felt an attachment and 77 per cent said they didn’t. Indifference to Charles has also risen in the same period.
▪️A majority of respondents said it’s the right time for Canada to reconsider its ties with the monarchy, with 56 per cent in favour and 44 against.
Anti-monarchy sentiment was strongest in Quebec, where 71 per cent said it was time to reconsider ties.
🍁 Maple Chronicles
New polling results suggest Canadians are largely indifferent to King Charles, and more than half believe his May 6 coronation is the right time for the country to reconsider its ties with the monarchy.
The web survey of 1,544 adults was conducted by market research firm Leger.
▪️Only 12 per cent of respondents said it was good news that Charles is now King, compared to 14 per cent who said it was bad news and 67 per cent who were indifferent.
▪️Only 13 per cent of those surveyed said they felt a personal attachment to the monarchy, compared with 81 per cent who didn’t.
▪️The survey found the level of attachment to the monarchy has dropped since the days immediately following Queen Elizabeth’s death last September, when 19 per cent said they felt an attachment and 77 per cent said they didn’t. Indifference to Charles has also risen in the same period.
▪️A majority of respondents said it’s the right time for Canada to reconsider its ties with the monarchy, with 56 per cent in favour and 44 against.
Anti-monarchy sentiment was strongest in Quebec, where 71 per cent said it was time to reconsider ties.
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📉François Legault approval rating drops to 55%
▪️According to a new study by the Angus Reid Institute, the approval rating of Quebec Premier François Legault has decreased to 55%, 2 points lower than in December when he was the premier with the highest approval rating.
▪️Legault currently sits in fourth place, behind Andrew Furey of Newfoundland and Labrador (62%), Scott Moe of Saskatchewan (60%) and Dennis King of Prince Edward Island (58%).
▪️The approval rating of François Legault hit an all-time high of 77% in June 2020; his lowest approval rating was 43%, in September 2022.
#Quebec
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▪️According to a new study by the Angus Reid Institute, the approval rating of Quebec Premier François Legault has decreased to 55%, 2 points lower than in December when he was the premier with the highest approval rating.
▪️Legault currently sits in fourth place, behind Andrew Furey of Newfoundland and Labrador (62%), Scott Moe of Saskatchewan (60%) and Dennis King of Prince Edward Island (58%).
▪️The approval rating of François Legault hit an all-time high of 77% in June 2020; his lowest approval rating was 43%, in September 2022.
#Quebec
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University president on paid leave after Indigenous identity claim
Memorial University President Vianne Timmons decided to go on voluntary paid leave after she became engulfed in a scandal surrounding her claimed Indigenous heritage.
Timmons apologized for any pain her disputed claims to Indigenous ancestry have caused. The controversy stems from Timmons claiming she has never benefited from her Indigenous ancestry, which she maintains is different from Indigenous identity.
#Newfoundland #Labrador
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Memorial University President Vianne Timmons decided to go on voluntary paid leave after she became engulfed in a scandal surrounding her claimed Indigenous heritage.
Timmons apologized for any pain her disputed claims to Indigenous ancestry have caused. The controversy stems from Timmons claiming she has never benefited from her Indigenous ancestry, which she maintains is different from Indigenous identity.
#Newfoundland #Labrador
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17 wild horses shot, killed west of Kamloops, B.C.; police investigating
Seventeen wild horses were shot and killed in B.C.’s Interior, say the RCMP, and the incident is now under investigation.
Tk’emlups Rural RCMP received a report of several horses killed on Crown land around an hour west of Kamloops, near the community of Walhachin.
RCMP say its forensic identification section carefully examined the scene, along with a veterinarian and an RCMP livestock investigator.
“The motive behind this disheartening act cannot be confirmed at this point,” said police.
#BritishColumbia
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Seventeen wild horses were shot and killed in B.C.’s Interior, say the RCMP, and the incident is now under investigation.
Tk’emlups Rural RCMP received a report of several horses killed on Crown land around an hour west of Kamloops, near the community of Walhachin.
RCMP say its forensic identification section carefully examined the scene, along with a veterinarian and an RCMP livestock investigator.
“The motive behind this disheartening act cannot be confirmed at this point,” said police.
#BritishColumbia
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💊Conservative government would launch $44B lawsuit against big pharma: Poilievre
Conservative Leader Pierre Poilievre says if he were to be elected prime minister he would launch a $44-billion lawsuit against pharmaceutical companies to account for what he calls their role in the opioid epidemic.
He said Tuesday that a Poilievre government would join, as a plaintiff, an existing class-action lawsuit filed by British Columbia, seeking an additional $4 billion in damages to the federal health-care system, and launch “a separate federal lawsuit to go after non-health costs, like border security, prisons, Indigenous programming, etc.”
“A total of roughly $44-45 billion is that what big pharma owes federal taxpayers and we're going to put that money towards recovery and treatment,” Poilievre said.
B.C. filed its class action lawsuit in 2018 on behalf of Canada’s federal, provincial and territorial governments to recover costs that “resulted from wrongful conduct of opioid manufacturers, distributors, and their consultants,” according to the province.
#BritishColumbia
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Conservative Leader Pierre Poilievre says if he were to be elected prime minister he would launch a $44-billion lawsuit against pharmaceutical companies to account for what he calls their role in the opioid epidemic.
He said Tuesday that a Poilievre government would join, as a plaintiff, an existing class-action lawsuit filed by British Columbia, seeking an additional $4 billion in damages to the federal health-care system, and launch “a separate federal lawsuit to go after non-health costs, like border security, prisons, Indigenous programming, etc.”
“A total of roughly $44-45 billion is that what big pharma owes federal taxpayers and we're going to put that money towards recovery and treatment,” Poilievre said.
B.C. filed its class action lawsuit in 2018 on behalf of Canada’s federal, provincial and territorial governments to recover costs that “resulted from wrongful conduct of opioid manufacturers, distributors, and their consultants,” according to the province.
#BritishColumbia
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🏥Newfoundland and Labrador offers $200,000 bonus to recruit rural doctors
Two days in a row, protesters stood outside the Confederation Building pleading for a stop to rural emergency room closures.
On Tuesday, March 14, people travelled to St. John’s from Whitbourne to voice their concerns. On Wednesday, they came from Bonavista.
Health Minister Tom Osborne said the provincial health authority is now offering another incentive for doctors to practice in some rural, hard-to-staff hospitals: a $200,000 bonus for a two-year return of service agreement.
He said it’s already rolled out for Bonavista, and in the next couple of days it will be offered to any doctor who will practice in New-Wes-Valley, and then offered to doctors who will go to Baie Verte.
$200,000 is stackable on top of the Come Home incentive that offers $100,000 to any Newfoundland and Labrador doctor currently working outside the province to return home to work.
#Newfoundland #Labrador
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Two days in a row, protesters stood outside the Confederation Building pleading for a stop to rural emergency room closures.
On Tuesday, March 14, people travelled to St. John’s from Whitbourne to voice their concerns. On Wednesday, they came from Bonavista.
Health Minister Tom Osborne said the provincial health authority is now offering another incentive for doctors to practice in some rural, hard-to-staff hospitals: a $200,000 bonus for a two-year return of service agreement.
He said it’s already rolled out for Bonavista, and in the next couple of days it will be offered to any doctor who will practice in New-Wes-Valley, and then offered to doctors who will go to Baie Verte.
$200,000 is stackable on top of the Come Home incentive that offers $100,000 to any Newfoundland and Labrador doctor currently working outside the province to return home to work.
#Newfoundland #Labrador
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Trudeau picks former governor general David Johnston to probe election meddling claims
Prime Minister Justin Trudeau has tapped former governor general David Johnston to investigate claims that China meddled in Canada's last two elections.
Trudeau said last week that he would name an "eminent" and independent person as a special rapporteur on election interference. He said the special rapporteur "will have a wide mandate and make expert recommendations on combating interference and strengthening our democracy."
Johnston is currently the head of the independent Leaders' Debates Commission an independent body that oversees leaders' debates during federal election campaigns. He will step down from that role to act as the new rapporteur, according to a news release from the Prime Minister's Office.
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Prime Minister Justin Trudeau has tapped former governor general David Johnston to investigate claims that China meddled in Canada's last two elections.
Trudeau said last week that he would name an "eminent" and independent person as a special rapporteur on election interference. He said the special rapporteur "will have a wide mandate and make expert recommendations on combating interference and strengthening our democracy."
Johnston is currently the head of the independent Leaders' Debates Commission an independent body that oversees leaders' debates during federal election campaigns. He will step down from that role to act as the new rapporteur, according to a news release from the Prime Minister's Office.
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Alberta poised to become first province to require body cameras for all police
The Alberta government is planning to require all police services in the province to use body cameras.
Public Safety Minister Mike Ellis said Tuesday that officers often respond to complex calls and make split-second decisions. That can raise concerns from the public about officers’ actions and whether appropriate force was used.
Ellis said the provincial government will be working with the Alberta Association of Chiefs of Police on funding, logistics and when the cameras will roll out. He said the association is to develop a mandate over the next few months to “swiftly get body cameras onto the streets as soon as possible.”
#Alberta
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The Alberta government is planning to require all police services in the province to use body cameras.
Public Safety Minister Mike Ellis said Tuesday that officers often respond to complex calls and make split-second decisions. That can raise concerns from the public about officers’ actions and whether appropriate force was used.
Ellis said the provincial government will be working with the Alberta Association of Chiefs of Police on funding, logistics and when the cameras will roll out. He said the association is to develop a mandate over the next few months to “swiftly get body cameras onto the streets as soon as possible.”
#Alberta
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Quebec bill aims to regulate police stops, combat racial profiling
▪️Quebec Public Security Minister Francois Bonnardel says he wants the province to better regulate police stops to combat racial profiling and give the police ethics commissioner more teeth.
▪️Bonnardel presented a vast bill on Wednesday, which aims mainly at modernizing certain practices of the police forces.
▪️The bill addresses the issue of police stops, including interceptions in relation to section 636 of the Highway Safety Code, which many see as a source of racial profiling by police.
▪️Following the adoption of Bill 14, Bonnardel committed to establishing guidelines to ensure that police stops based on discriminatory grounds are prohibited. If the guidelines are not followed, police officers could face disciplinary action.
#Quebec
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▪️Quebec Public Security Minister Francois Bonnardel says he wants the province to better regulate police stops to combat racial profiling and give the police ethics commissioner more teeth.
▪️Bonnardel presented a vast bill on Wednesday, which aims mainly at modernizing certain practices of the police forces.
▪️The bill addresses the issue of police stops, including interceptions in relation to section 636 of the Highway Safety Code, which many see as a source of racial profiling by police.
▪️Following the adoption of Bill 14, Bonnardel committed to establishing guidelines to ensure that police stops based on discriminatory grounds are prohibited. If the guidelines are not followed, police officers could face disciplinary action.
#Quebec
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🇨🇦🇬🇧Canada will hold special ceremony to mark May 6 coronation of King Charles
Prime Minister Justin Trudeau says Canada will hold a special ceremony marking the coronation of King Charles on May 6.
The ceremony in Ottawa will be one of several events held over two days as Canada marks the investiture of its new monarch.
The coronation will take place May 6 at Westminster Abbey and will be marked by a procession, a concert at Windsor Castle and other events.
A poll published this week by market research firm Leger suggests Canadians are largely indifferent to King Charles, with more than half believing his coronation is the right time for the country to reconsider its ties with the monarchy.
#Ontario
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Prime Minister Justin Trudeau says Canada will hold a special ceremony marking the coronation of King Charles on May 6.
The ceremony in Ottawa will be one of several events held over two days as Canada marks the investiture of its new monarch.
The coronation will take place May 6 at Westminster Abbey and will be marked by a procession, a concert at Windsor Castle and other events.
A poll published this week by market research firm Leger suggests Canadians are largely indifferent to King Charles, with more than half believing his coronation is the right time for the country to reconsider its ties with the monarchy.
#Ontario
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🇨🇦🇺🇸75% of all exports are destined to the United States
The U.S. is by far the largest destination for Canadian products (75 per cent of total exports, followed by China (4.5 percent) and the United Kingdom (2.6 percent).
#facts
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The U.S. is by far the largest destination for Canadian products (75 per cent of total exports, followed by China (4.5 percent) and the United Kingdom (2.6 percent).
#facts
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Federal Liberals gives funds for new non-binary sports league
The Government of Canada invested into an exclusive LGBTQ+ sports league in Ontario.
The Government invested $90,000 into a 2SLGBTQI+ Sports in Waterloo Region project, which hosts a multi-sport league for non-binary players.
The league is hosted by a Kitchener advocacy group called SPECTRUM, which currently has a league running for the sports of basketball, volleyball, badminton, floor hockey and dodgeball.
The investment comes as a survey of Canadian female athletes found the majority (91.7%) think women should have the right to a dedicated female league, and 88% believe transwomen have a competitive advantage over women.
#Ontario
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The Government of Canada invested into an exclusive LGBTQ+ sports league in Ontario.
The Government invested $90,000 into a 2SLGBTQI+ Sports in Waterloo Region project, which hosts a multi-sport league for non-binary players.
The league is hosted by a Kitchener advocacy group called SPECTRUM, which currently has a league running for the sports of basketball, volleyball, badminton, floor hockey and dodgeball.
The investment comes as a survey of Canadian female athletes found the majority (91.7%) think women should have the right to a dedicated female league, and 88% believe transwomen have a competitive advantage over women.
#Ontario
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Vancouver mayor says foreign meddling 'insinuations' around municipal election are because he's not Caucasian
Vancouver Mayor Ken Sim said his race is behind “insinuations” in a newspaper report connecting him to election meddling by Chinese diplomats.
Sim said at a news conference Thursday he was not aware of any foreign interference in the 2022 municipal election that saw him defeat incumbent Kennedy Stewart.
Meanwhile, Canadian intelligence officials are concerned the Chinese Consulate in Vancouver interfered in the election by using diaspora community groups and grooming certain candidates.
#BritishColumbia
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Vancouver Mayor Ken Sim said his race is behind “insinuations” in a newspaper report connecting him to election meddling by Chinese diplomats.
Sim said at a news conference Thursday he was not aware of any foreign interference in the 2022 municipal election that saw him defeat incumbent Kennedy Stewart.
Meanwhile, Canadian intelligence officials are concerned the Chinese Consulate in Vancouver interfered in the election by using diaspora community groups and grooming certain candidates.
#BritishColumbia
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🇨🇦🇮🇳Canada to deport over 700 Indian students for fake admission offer letters
More than 700 Indian students are facing deportation from Canada after authorities in the country found that the admission offer letters to the educational institutions they were studying in were fake, reported The Indian Express.
The students had gone to Canada in 2018-19 on a study visa. After completing their studies the students had also received work permits in the country. The admission offer letters were found to be fake only after they applied for permanent residency in Canada, reported PTI.
The Canadian Border Security Agency scrutinised their documents which revealed that their offer letters were not authentic.
#India
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More than 700 Indian students are facing deportation from Canada after authorities in the country found that the admission offer letters to the educational institutions they were studying in were fake, reported The Indian Express.
The students had gone to Canada in 2018-19 on a study visa. After completing their studies the students had also received work permits in the country. The admission offer letters were found to be fake only after they applied for permanent residency in Canada, reported PTI.
The Canadian Border Security Agency scrutinised their documents which revealed that their offer letters were not authentic.
#India
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Trudeau lashes out at Tories for questioning personal ties with special rapporteur
Justin Trudeau accused his Conservative rival of trying to score political points at the expense of Canadian democracy on Friday by questioning his personal relationship with former governor general David Johnston.
The question came during an event in Guelph, Ont., two days after Trudeau tapped Johnston as special rapporteur responsible for investigating claims of Chinese meddling in the last two federal elections.
Conservative Leader Pierre Poilievre has accused Trudeau and Johnston of being too close, noting the prime minister has previously called them family friends. Johnston is also involved in the Pierre Elliott Trudeau Foundation.
Asked by reporters about their relationship, Trudeau defended the former governor general. Trudeau also said he hoped Johnston's appointment would "bring down the temperature on this issue."
#Trudeau
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Justin Trudeau accused his Conservative rival of trying to score political points at the expense of Canadian democracy on Friday by questioning his personal relationship with former governor general David Johnston.
The question came during an event in Guelph, Ont., two days after Trudeau tapped Johnston as special rapporteur responsible for investigating claims of Chinese meddling in the last two federal elections.
Conservative Leader Pierre Poilievre has accused Trudeau and Johnston of being too close, noting the prime minister has previously called them family friends. Johnston is also involved in the Pierre Elliott Trudeau Foundation.
Asked by reporters about their relationship, Trudeau defended the former governor general. Trudeau also said he hoped Johnston's appointment would "bring down the temperature on this issue."
#Trudeau
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