28 JANUARY 2013WEEKLY

Uganda: Mulwana Was an Inspiration

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Toronto Real Estate Market From 2009 To 2012

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Canada and India are likely to sign a comprehensive economic partnership agreement this year that could raise bilateral trade to 15 billion dollars in two years and substantially boost two-way investments, Canadian Minister of International Trade, Ed Fast has said.

The Minister said that the proposed pact could boost Canada's economy by at least 6 billion Canadian dollars.

“That translates to almost 40,000 new jobs across the country, or a 500 dollar boost to the average Canadian family's annual income," he said.

Foreign innovators who want to set up new companies in Canada will be able to immigrate under a new start-up visa program that Citizenship and Immigration Minister Jason Kenney said on Thursday was the first of its kind in the world.

The new program, to be launched on April 1, is part of a government push to better align the immigration system with Canada's economic goals. Last year, the government revamped the

The Canadian start-up visa would skilled worker program to try to make it

grant permanent resident status, which meet employers' needs more nimbly.

can then lead to citizenship."Our new start-up visa will help

For now, Ottawa will work with two make Canada the destination of choice

umbrella groups that will identify which for the world's best and brightest to

members of their associations will be launch their companies," Kenney said in

eligible to participate in the program. a statement.

They are Canada's Venture Capital & Under this program, would-be Private Equity Association (CVCA) and

immigrants would require the support of t h e N a t i o n a l A n g e l C a p i t a l a Canadian venture capital fund or angel Organization.investor group, which would invest in

"Through this program, we want to new companies started by the immi-

attract high-quality entrepreneurs from grants.

around the globe and help build best-in-Once candidates for the program are class companies in Canada," said Peter

identified by these groups, the govern- van der Velden, president of CVCA and ment would try to clear them for entry managing general partner of Lumira into Canada within weeks. Capital, which helps build health and

The goal is to unite Canadian money life-science companies.and foreign brains. An initial source of Kenney has put a moratorium on candidates could be frustrated foreign- issuing on Canada's existing entrepre-ers in the high-tech sector in the United neur visa, which only required an States who have not been able to land immigrant to hire one person for one resident status there. year.

Prime Minister Stephen government’s budget-Harper acknowledged making and make it harder Wednesday that their recent to get jobless Canadians economic projections have back to work.proven too rosy. The IMF now expects

“There has been a Canada’s economy will general slowing of the expand by a modest 1.8% economy over the past, this year — two-tenths of a really the past half-year so it point weaker than it forecast is obviously a concern to three months ago — and by us,” Harper told reporters in Cambridge, 2.3% in 2014, off one-tenth of a point.Ontario. “This is obviously going to For the global economy as a whole, have some fiscal impact on us, will have the international financial organization some impact on the pace of job cre- says growth will hit 3.5% in 2013, ation.” slightly lower than its October forecast

Harper says his government down- but still stronger than last year’s 3.2% graded its own growth forecast in the advance. In 2014, the world economy fall due to changes outside its borders. will rebound to 4.1%, the strongest rate

in three years, it says.For Harper, this will complicate his

The Government of Canada has extended the Hiring Credit for Small Business (HCSB) for 2012. The 2011 federal budget created the HCSB to create jobs, grow the economy and support small businesses.

If you are self-employed, you may be ums paid in 2012. The credit of up to eligible for the hiring credit for small $1,000 will be automatically credited to business. This credit gives small your payroll account.businesses relief from the employer’s

(for more info: www.cra-arc.gc.ca)share of employment insurance premi-

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The Minister added that Canada has identified core economic opportunities in India in the energy, agriculture, infrastructure and education sectors.

Naval Bajaj, President of the Indo-Canada Chamber of Commerce and Satish Thakkar, Immediate Past President of the ICCC, who recently returned from a trade mission with Canadian municipal leaders from India, said: "Canadian businesses are very excited about the opportunities that would come from a Canada-India trade agreement.

"Canada has the resources and expertise to propel India's development and fast-paced growth, and India has the

young talent that Canada needs," they added.

India Canada and Likelyto Sign Economic Pact

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Dream Issue3 4

Start-up Visa To Attract Entrepreneur Immigrants

4PAGESNews & ViewsDigest

Canada's is Slowing Economy Down

The Hiring Credit for Small Business has been extended

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The story of Ugandan entrepreneur-ship would not be complete without mentioning one man, James Mulwana.

Sadly, that man is no more. He died on Tuesday, January 15, aged 76. Doctors blamed abdominal complica-tions. From his Nice House of Plastics to Uganda Batteries Limited to Jesa Farm Dairy to Nsimbe Estates, Mulwana was a symbol of business success amongst Ugandans in the private sector.

Successful as he was, he wanted others to succeed too, thus his active involvement in the revival and leader-ship of Uganda Manufacturers Association (UMA) and Private Sector Foundation Uganda (PSFU), which are today some of the strongest voices on the economy, thanks in part to his contribution.

Mulwana distinguished himself as the pioneer of local industry. He fought to make Ugandans proud of the 'Made in Uganda' label so much so that he was known to hand token presents to journalists who came to his press conferences holding pens made from his Nice House of Plastics. He became an inspiration to the Ugandan business community, championing the cause of

U.S. President Barack easy thing to get into public Obama's message of hope office. Just have a thick skin and change has inspired his because people will be half-brother Malik to launch targeting you. The media a political career of his own, will be saying this and that. with his eye on elections in There will be people who Kenya in March. love you and people who

won't love you'.""If my brother is doing great things for people in the United Obama, who said he is a polygamist States, why can't I do great things for with 10 children, has a campaign team Kenyans here?" Malik Obama told that includes some family members and Reuters in the village of Kogelo, volunteers. He is unsure if the big name President Obama's ancestral homeland. recognition he brings to the race will put

him at an advantage.Malik, 54, is running for governor-ship of the rural Siayacounty as an President Obama visited Kogelo independent candidate. before his first election victory in 2008

which led to wild jubilation, dancing "He is an inspiration to me and I feel and parties. His November re-election that he is an embodiment of my father's was greeted with similar enthusiasm.dream," he said of the U.S. leader.

(Source: Reuters)"All he told me is 'brother, it is not an

If your stocks have limited China exposure, then don't expect out perfor-

after +7.7% in 2012. We heard much mance in 2013. Exposure might be about China's slowdown, but not much buried in revenues or equity risk taken about its current recovery. Truth is, over directly, but it MUST be there. That is 40% of ALL the world's economic because China is a market elephant growth comes from China -- no small now; you can't avoid it. matter for investors. The internal migration reshaping the

Inside China's financial markets, I country? - Epic see upside -- China's retail sales are up Its demand growth? - Picking up +14% year over year. With low forward

Investment signals? - Positive! P/E ratios, Chinese stocks look reason-All of this provides a strong catalyst able even after the recent eight-month

to take shares higher. So in the next few long rebound. China's managed paragraphs, I am going to show you currency may be a political hot potato, what is going on with China and how to but it lowers currency risk for investors. invest more successfully in 2013 China's CYCLICAL slowdown because of this key trend. signaled its end in June 2012.

What is Going on With China's The 2012 slowdown was a back-end Economy? signature of their huge 2009 fiscal

China's consensus GDP forecast is stimulus. Late in 2010, tight money rising. began to attack a housing price bubble.

Growth is forecast at +8.1% for 2013 Two years later, slower growth cooled

Uganda: Mulwana Was an InspirationObama Inspires Brother to Run for office in Kenya Elections

prices, and put in place a stable expan-sion.

In June 2012, the People's Bank of China [PBC] cut its average 6.5% rate to 6.0%. It can go to 5.3% to match the 2010 low. To skeptics who see slack, I ask this: Why doesn't the PBC go to 5.3%?

After ending speculation, housing bottomed. Prices have come down -10% to -15%. Wage growth of +10% to +20% a year means home affordability is up +30% to +50%. Now, home and auto sales - accounting for 40% of China's consumer spending - should pick up.

WHO's AFRAID OF CHINA?By John Blank, Zacks.com

entrepreneurship and local production perhaps more than any other business-man of his time.

President Museveni recently lamented that not many Ugandans are engaged in manufacturing. The likes of Mulwana defied the odds facing indigenous Ugandans who venture into manufacturing and still managed to excel. Budding entrepreneurs must look up to this man - and others in his category - and ask themselves, if he could do it, why not us?

Agriculture and oil production have been glorified but the Ugandan econ-omy will not be transformed without industrialisation, which will create many more jobs and boost consumption to attract even more investment. In a country notorious for corruption, Mulwana is believed to have accumu-lated his wealth through hard work and honesty, which cannot be said of many in the Ugandan business community. Right-thinking business leaders should emulate him in this regard.

Hopefully, unlike many scenarios in Africa where successful enterprises fail to outlive their founders, Mulwana's business empire was prepared to withstand such a calamity and will continue to thrive and expand.

(Source: allafrica.com)

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28 JANUARY 2013MONEYDREAMS &

If a picture is worth thousand words, have I to comment on the pictures of Toronto Real Estate Board?

Clearly the average price trend is upward. Average Price is a good indicator but not an accurate indicator of the market. Home Price Index is a more accurate measure of house prices than the average selling price; because the Home Price Index compares apples-to-apples. Home Price Index has been declining month to month since July 2012 according to Royal Bank of Canada Economist Robert Hogue.

Dreams and Money takes care to present all the information as accurately and efficiently as possible. Any advice or recommendation appearing in the paper is also part of information only. They should not be construed as an expert opinion. Please note that no representation or warranty with respect to the accuracy or the completeness of the information is given. Information always keeps changing. Hence all the information, including advice and recommendations are to be treated as of general nature only. For your specific circumstances, you are always advised to consult an expert before acting on any information.

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At Dreams & Money, we want to help people lead happy lives. We want to help people reach their dreams. A lot of dreams in the world require financial awareness and proper planning to bring to fruition. To get this financial knowledge can be challenging. We realize this, and want to make this process simpler.

We will bring you financial news happening around you that impacts you, along with timeless classics on topics like financial planning, life skills, health etc. to help you grow all around to reach your dreams.

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TORONTO REAL ESTATE MARKET From 2009 to 2012

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2,000

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TorontoMLS SalesMonthly with Three Previous Years for Comparison

2009 2010 2011 2012

$300,000

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$450,000

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TorontoMLS Average Resale Home PriceMonthly with Three Previous Years for Comparison

2009 2010 2011 2012

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TorontoMLS Average PriceMonthly Time Series with Trend Line

Actual MLS® Average Price

Trend (12-Month Moving Average)

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TREB Affordability Indicator Share of Average Household Income Used for Mortgage Principal and Interest, Property Taxes and Utilities on the Averaged Priced GTA Resale Home

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28 JANUARY 2013MONEYDREAMS & INVESTING

Review of Global markets

Review of Indian markets

Market outlook – week begins from

lowered its global economic forecast to 3.5% in 2013 and then 4.1% in 2014, The Global markets gained most of slight downward revision from the trading session during the week, as October's estimates of 3.6% and 4.6% stronger investor confidence, better-respectively. The IMF estimated that the than-expected economic data from Eurozone economy would contract -china and the US and upbeat US 0.2%, down from previous estimate of earnings helped to lift sentiment. 0.2%. IMF forecasted the US economic Equities rose as lawmakers voted to growth would ease to 2% this year from extend the nation's borrowing limit and 2.1% estimated previously. Chinese after earnings from Google and IBM economy would grow 8.2% in both beat estimates. IBM late Tuesday 2013 and 2014projected better-than-expected 2013

results, helping allay worries about the technology sector that came on Intel's soft forecast last week. The positive sentiment further supported by news that the House voted to approve a bill that would temporarily suspend the US debt limit for nearly four months. However gains on the upside were limited amidst cautious ahead of a US vote on raising the nation's borrowing limit and on disappointment over the Bank of Japan's latest easing move.

The Sensex settled at its highest The Bank of Communications report closing level in more than two years

that predicted China's economy will above the psychological 20,000 mark. grow 8.5% this year, with domestic The BSE Mid-Cap index fell 2.67% and demand driving the expansion. China the BSE Small-Cap index declined Exports will rise 8.5% this year from 3 . 0 9 % . B o t h t h e s e i n d i c e s 2012 and imports will climb 10%. It underperformed the Sensex. The market forecast retail sales to grow 12.5% in logged gains in three out of five trading 2013. China will adopt loose fiscal and sessions in the week. The BSE Sensex stable monetary policies to support the rose 64.49 points or 0.32% to 20,103.53 real economy. Its new lending is seen up while Nifty gained 10.25 points or to 9.5 trillion Yuan (US$1.51 trillion) in 0.16% to 6,074.65 in the week ended 25 2013. January 2013.

The Bank of Japan concluded two- The Reserve Bank today hiked FII day monetary policy meeting by setting investment limits in government up 2% inflation target and an indefinite securities and corporate bonds by $5 purchase of assets against the two billion each, taking the total cap in decades of deflation. Starting January domestic debt to $75 billion, with a view 2014, the central bank will buy approxi- to bridging the current account deficit.mately 13 trillion yen in assets each

Car major Maruti Suzuki India hit a month, of which about 2 trillion yen will

52-week high after the company be for the government bonds. Under the

reported net profit jumped 143.8% to Rs new policy, the overall asset purchase

501.30 crore on 45.6% growth in net scale will be increased by 10 trillion

sales (net of excise) to Rs 10957 crore in yen, which will likely be maintained. In

Q3 December 2012 over Q3 December addition, the central bank kept the

2011.interest rate at 0-0.1%.

International Monetary Fund's

28 January 2013

shekarm@indiafinancebazaar.com www.indiafinancebazaar.com |www.ifmaonline.com

Ph : +91 9380034431/9962534431

currently on Q3 December 2012 results. Investors and analysts will closely watch the management commentary that would accompany the result which could cause revision in their future earnings forecast of the company for the Market may follow the Q3 results to current year and or next year.be announced by next batch of Indian

On the global front, a key event is the corporate and Reserve Bank of India's Federal Open Market Committee's Third Quarter Review of Monetary (FOMC) two-day meeting on interest Policy 2012-13 on Tuesday, 29 January rates in the United States on 29 and 30 2013, will dictate near trend on the January 2013.bourses. Auto and cement stocks will be

in focus as companies from these two We provide real time training to sector start unveiling monthly sales identify growth prospectus companies volume data for January 2013 from with high dividend yield. We offer short Friday. term and long term courses depending

up on the requirement of individuals Volatility may remain high as traders through on line as well as off line. We roll over positions in the futures & also provide advisory services, structure options (F&O) segment from the near and manage portfolio of foreign month January 2013 series to February individuals in a prudent manner. 2013 series. The January 2013 F&O

contract expire on Thursday, 31 January 2013.

The focus on the stock market is

Further details:

M.Shekar

Global Indian Market and Weekly Review - Week Ended 25 January 2013

Bumpy Ride of TSXTSX Trend From Jan.21, 2013 to Jan.25, 2013

CONSUMER PRICE INDEX IS STABLE IN DECEMBER 2012

RETAIL TRADE IS UP IN NOVEMBER 2012

WHOLESALE TRADE IS ALSO UP IN NOVEMBER 2012

The Consumer Price Index (CPI) rose 0.8% in the 12 months to December, matching the increase in November.

Retail sales edged up 0.2% to $39.4 billion in November, a fifth consecutive monthly sales gain. Higher sales at motor vehicle and parts dealers as well as electronics and appliance stores more than offset declines at most store types.

In volume terms, retail sales rose 0.8%.

Wholesale sales rose 0.7% in November to $49.6 billion. The increase was largely a result of higher sales in the computer and communications equipment and supplies industry.

In volume terms, wholesale sales were up 0.5%.

RRSP Contribution Deadline for 2012 is March 1, 2013

RRSP Contribution Limit for 2012 - $22,970 / for 2013 -

TFSA Contribution Room from 2009 to 2012 - $5,000 each year / for 2013 -

$23,820

$5,500

Weekly Statistics Canada News

The S&P/TSX composite index closed at 12,816.03 and the TSX Venture Exchange closed at 1,227.26.

The Chinese data helped push oil prices higher. Oil prices finished a seventh consecutive positive week. But falling bullion prices pressured index down.

Four of the index's 10 main sectors ended in negative territory. The index has risen 3.1 per cent since the new year.

The Bank of Canada on Tuesday downgraded its economic growth outlook for the country to 1.9% for 2012 and to two per cent for 2013, both three-tenths of a point lower than previously forecast.

The loonie has been under pressure since the Bank of Canada indicated Wednesday that any interest rate increases will likely be further down the road than previously expected because of economic weakness. Statistics Canada said that the annual inflation rate was 0.8% in December, the same as in November.

US economic data continues to impress. Even Europe is starting to look up with nice gains on their PMI Manufacturing report.

TSX Trend From Jan.26, 2012 to Jan.25, 2013

Source : Yahoo Finance

SOME IMPORTANT DEADLINES