TORONTO: Canada could lose more than 580,000 jobs within five years if Detroit’’s Big Three automakers go out of business, according to an Ontario government commissioned report.The review, prepared for Ontario’’s Ministry of Economic Development and released Tuesday, warns that the collapse of General Motors Corp., Ford Motor Co. and Chrysler LLC would send lasting shock waves through the economy. If auto output by U.S.-based manufacturers in Canada were cut in half, at least 157,400 jobs would be lost right away, 141,000 of them in Ontario. By 2014, job losses would rise to 296,000 nationally, including269,000 in Ontario.If production were to cease completely, 323,000 jobs would be lost immediately in Canada, including 281,800 in this province, rising to 582,000 nationally and 517,000 in Ontario by 2014. The Ontario Manufacturing Council, a provincial government panel, commissioned the 11-page report, which was prepared by the Center for Spatial Economics. The report paints a gloomy picture if the provincial government and Ottawa and Washington do not bail out the U.S. automakers. Ontario Economic Development Minister Michael Bryant said Tuesday a proposed $3.4-billion Canadian ($2.8-billion) rescue package is needed to avoid a “catastrophic”” chain of events.
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NEW YORK: The Taliban and Alqaeda committee of United Nations Security Council (UNSC) is mulling to put more Pakistanis on terror list.According to senior diplomatic sources, a time-tested friend country is helping Pakistan in this connection.Senior diplomats are also trying to stop inclusion of names of more Pakistanis into terror list. The Taliban and Alqaeda Committee of UNSC is a private body which could not take into confidence any country or person regarding its meeting.A diplomat on condition of anonymity told that Pakistani mission is carried out hectic efforts to prevent inclusion of more Pakistanis into terror list. A close friend country of Pakistan is helping in these efforts.
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KARACHI: The rupee fell further by 1.7 per cent against the US dollar on Tuesday as speculation of an imminent withdrawal of foreign portfolio investm
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LAHORETHE National Accountability Bureau, Punjab, on Tuesday filed a reference in the Accountability Court against accused Zafar Iqbal and six
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LAHOREA PROFILE of disabilities in the city reveals that 60 per cent of the disabled are afflicted by polio, 17 per cent are deaf or dumb, 12
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ISLAMABAD: In a positive development, Abraaj Capital (Pak), the new management of Karachi Electric Supply Company (KESC), has submitted re-payment sch
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KARACHI: Shoaib Akhtar believes Pakistan can lure foreign cricket stars back to the country by showing them the money.The enigmatic pacer star
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KARACHI: The extra income earned from allowing installation of cellular service and broadband towers atop residential and commercial complexes has cau
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LAHORECONTINUING its anti-encroachment operation here on Tuesday, the City District Government Lahore (CDGL) removed several structures from o
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LAHORE: All Pakistan Textile Mills Association (APTMA) has urged the government to utilise all power generating capacities available in the country an
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