April 16, 2015 / 10:59 AM / in 3 years

PRESS DIGEST- Canada- April 16

April 16 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.


** Indian Prime Minister Narendra Modi used a speech in front of nearly 10,000 Indo-Canadians in Toronto on Wednesday night to tout his achievements since becoming India's leader and promise that his country would overcome corruption and poverty. (bit.ly/1CR5qNA)

** Toyota Motor Corp will invest hundreds of millions of dollars to replace Corolla production that is being shifted to Mexico and to upgrade its Canadian factories for a new system to assemble vehicles, the president of the company's Canadian manufacturing arm says. (bit.ly/1INY9X3)


** The Bank of Canada acknowledged Wednesday the country’s output was flat-lining for most - if not all - of the first quarter, given that the fallout from the crash in crude appears to have been more “front loaded” than predicted just a few months.

For the central bank's policymakers, this will mean staying the course for now at current ultra-low interest rates and assessing the impact of still-low oil costs along the way. (bit.ly/1yv65sM)

** The numbers certainly aren't mind-blowing on Cameco Corp's five-year agreement to provide 7.1 million pounds of uranium to India through 2020. The deal is only estimated to be worth $350 million and it's small when you consider that the Saskatchewan-based miner sells about 33 million pounds of uranium annually. (bit.ly/1FWkXQT)

** Planned fee hikes at Canada's "quasi-monopoly" securities clearing and settlement system could drive the Ontario Financing Authority, a Crown agency that handles debt issues and risk management for the province, to take business outside the country. (bit.ly/1IhpoG0) (Compiled by Rama Venkat Raman in Bengaluru)

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