logo
Indian diaspora sees PM Modi's Canada visit as moment for rebuilding trust

Indian diaspora sees PM Modi's Canada visit as moment for rebuilding trust

Canada Standard7 hours ago

Alberta [Canada], June 15 (ANI): As Prime Minister Narendra Modi embarks on a three-nation tour, culminating in his participation at the G7 Summit hosted in Alberta, Canada, members of the Indian diaspora across Canada and the United States have extended a warm welcome and expressed hope for a renewed chapter in India-Canada relations.
The visit comes at a time when bilateral ties between the two nations have been strained in recent years, primarily due to concerns over Canada's perceived leniency towards Khalistani separatist elements.
However, PM Modi's invitation by Canadian Prime Minister Mark Carney is being viewed by many as a significant diplomatic overture and a potential turning point in Indo-Canadian relations.
'We warmly welcome you to Canada and hope that with your arrival, the relations between India and Canada will grow stronger and more prosperous,' said Harjit Singh Sandhu, Vice Chairman of the India Canada Organisation (ICO), Montreal.
Echoing a similar sentiment, Harpreet Singh, a Canada-based journalist, noted the importance of the G7 platform.
'The world is passing through a critical phase, and the G7 meeting in Alberta will be a great opportunity for world leaders to brainstorm and find solutions to pressing global challenges,' Singh said.
'Our Prime Minister, Mark Carney, has invited Prime Minister Narendra Modi from India, which is a welcome step. There have been issues between India and Canada in the past few years, and I hope during this meeting, things are sorted out and a new path is chosen where both countries develop and prosper,' said Harpreet Singh.
Singh emphasised the importance of strengthening cooperation in trade, technology, and investment, stating that the over one million-strong Indian diaspora in Canada is eager for 'peace, stability, and progress.'
In New Jersey, HS Paneser, President of the Global Indian Diaspora Alliance, hailed the visit as a 'pivotal moment to reset and rebuild Indo-Canadian relations.'
'As of June 2025, Prime Minister Modi's participation in the G7 Summit, hosted by Prime Minister Carney, is being widely viewed by the Indian diaspora and global observers as a crucial opportunity to address and improve the recent strain in bilateral ties,' Paneser told ANI.
He pointed to a prevailing sentiment of cautious optimism among the diaspora, referring to the G7 invitation as 'an olive branch -- a symbolic and strategic soft restart to the relationship.'
Highlighting shared interests in trade, critical minerals, technology, and academic exchange, Paneser said both countries stand to benefit from 'strengthened cooperation and mutual respect.' He also stressed the significance of people-to-people ties, particularly the contributions of Indian students and professionals in Canada.
'The fact that PM Modi has been invited to the G7, despite India not being a member, underscores India's rising global stature as the world's most populous country and fourth-largest economy,' Paneser remarked.
'We see this visit as a pivotal moment to rebuild trust, enhance cooperation, and usher in a more constructive and mutually beneficial phase in Indo-Canadian relations.'
Concluding on a hopeful note, he added, 'In the spirit of progress and partnership, we, the members of the Indian diaspora, wholeheartedly welcome this positive move and hope it marks the beginning of better days for both nations.' (ANI)

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Canadians can apply for Canada Disability Benefit starting in June
Canadians can apply for Canada Disability Benefit starting in June

CTV News

time33 minutes ago

  • CTV News

Canadians can apply for Canada Disability Benefit starting in June

Bank of Canada notes are displayed at the Bank of Canada museum in Ottawa on Wednesday, July 12, 2023. (THE CANADIAN PRESS/Sean Kilpatrick) Eligible Canadians can begin applying for the Canada Disability Benefit (CDB) as of June 20. The new benefit, part of the federal government's Disability Inclusion Action Plan, aims to provide financial support to Canadians living with disabilities. Who is eligible? The benefit is available to persons with disabilities between the ages of 18 and 64 who meet several requirements. Some of these requirements include qualifying for the disability tax credit (DTC), filing a 2024 income tax return with the Canada Revenue Agency, or having a spouse or common-law partner who has also filed their 2024 income tax return, if applicable. The federal government will also send letters in June to eligible Canadians to apply. The letters will include a unique application code and instructions on how to apply. According to the program's website, Canadians who do not receive a letter but believe they are eligible can still apply. To do so, they must provide a mailing address and their net income (line 23600) from their 2024 notice of assessment. How to apply Eligible Canadians can apply starting June 20 online, by phone or in person at a Service Canada office. Applicants will need a social insurance number (SIN) and direct deposit information. According to the program's website, Service Canada uses direct deposit because it is more efficient and reliable. A number of community-based organizations across Canada will also provide support throughout the CDB application process, including assistance with applying for the DTC. Canadians whose applications are received and approved by June 30 can expect first payment in July. How much is the benefit? The benefit is calculated based on various factors, including adjusted family net income. The maximum amount is $2,400 annually ($200 per month), from July 2025 to June 2026. The benefit will be adjusted for inflation each year to reflect changes in the cost of living, but the benefit will not decrease if the cost of living goes down. Eligible Canadians may also receive retroactive payments for up to 24 months prior to the date their application is received—but not for any months before July 2025.

Equinox Gold Stock Trading Cheaper Than Industry: Should You Buy Now?
Equinox Gold Stock Trading Cheaper Than Industry: Should You Buy Now?

Globe and Mail

time37 minutes ago

  • Globe and Mail

Equinox Gold Stock Trading Cheaper Than Industry: Should You Buy Now?

Equinox Gold Corp. 's EQX stock looks attractive from a valuation perspective. EQX is currently trading at a forward price/earnings of 6.54X, a roughly 51.2% discount to the Zacks Mining – Gold industry's average of 13.4X. EQX is trading at a discount to its peers, B2Gold Corp. BTG, Eldorado Gold Corporation EGO and IAMGOLD Corporation IAG. Equinox Gold, B2Gold, Eldorado Gold and IAMGOLD have a Value Score of A, each. EQX's P/E F12M Vs. Industry, BTG, EGO and IAG Technical indicators show that EQX stock broke out above its 50-day simple moving average (SMA) on May 30, 2025. It is also currently trading above the 200-day SMA. The 50-day SMA continues to read higher than the 200-day SMA following a golden crossover on Jan. 29, 2025, indicating a bullish trend. EQX Trades Above 50-Day SMA Equinox Gold's cheap valuation should lure investors seeking value. But is the time right to buy EQX's shares based on its attractive valuation? Let's delve deeper. Expansion Actions, Calibre Merger Underpin EQX's Growth Equinox Gold has rapidly evolved into a diversified, growth-focused gold producer. With operating mines spanning Canada, the United States and Brazil, it is targeting over one million ounces of annual production through an ambitious pipeline of expansions. It currently has five producing mines and three expansion and development projects that are expected to add roughly 300,000 ounces of annual production over the next few years. Greenstone, which achieved commercial production last November, is ramping up toward the full production target rate of 196,000 tons per day (tpd), which is expected in the second half of 2025. Greenstone is expected to produce around 390,000 ounces of gold annually at full production. Also, an underground expansion at the Aurizona mine in Brazil will extend the mine life to 11 years and expand gold production with an average annual gold production of 137,000 ounces. The Phase 2 project at Castle Mountain in California is expected to increase production to an average of 218,000 ounces annually over a 14-year Phase 2 mine life, with further potential for expansion from exploration. Aligning with its growth strategy, Equinox Gold, in February 2025, agreed to acquire all outstanding common shares of Calibre Mining Corp. Through this transaction, Equinox Gold will enhance its asset base with operating mines in Nicaragua and the United States, as well as earlier-stage assets in the United States. Also, the acquisition includes the Valentine Gold Mine in Newfoundland, Canada, which is expected to commence gold production in the third quarter of 2025. The deal received approval from both EQX shareholders and Calibre securityholders on May 1, 2025, and is expected to close around the end of June 2025. The combination of Greenstone and Valentine Gold will create a Canadian gold mining powerhouse with more than 1.2 million ounces of annual production, and benefit from low-cost production growth, increased cash flow, lower operating costs and a stronger balance sheet. The combined entity, with around 23 million ounces of proven and probable gold reserves, will be well-placed to capitalize on the favorable gold price environment while deleveraging the balance sheet using strong cash flow generation. Higher Gold Prices to Drive EQX's Profitability Gold prices have rallied roughly 27% this year, largely attributable to aggressive trade policies, including sweeping new import tariffs announced by President Donald Trump that have intensified global trade tensions and heightened investor anxiety. Also, central banks worldwide have been accumulating gold reserves, led by risks arising from Trump's policies. Prices of the yellow metal catapulted to a record high of $3,500 per ounce on April 22 as the U.S. dollar tumbled amid President Trump's criticism of Federal Reserve Chair Jerome Powell and call for an immediate reduction in interest rates. Increased purchases by central banks, hopes of interest rate cuts, and geopolitical tensions are factors expected to help the yellow metal sustain the rally. While gold prices have fallen from their April 2025 highs, they remain favorable. The yellow metal is gaining from safe-haven demand triggered by trade and geopolitical uncertainties, and is currently hovering above the $3,300 per ounce level. Higher gold prices are expected to boost EQX's profitability and drive cash flow generation. Equinox Gold's Strong Financial Health Bodes Well EQX has a strong balance sheet and generates substantial cash flows, which allows it to fund its growth projects. The company ended the first quarter with strong liquidity, including roughly $173 million in unrestricted cash and $65 million in an undrawn credit facility. It also generated cash flow from operations (before changes in non-cash working capital) of $73.3 million in the quarter. The company expects to pursue deleveraging in the second half of 2025, utilizing strong cash flow generation partly through the ramp-up of Greenstone. Higher Costs May Strain EQX's Margins EQX's first-quarter results reveal a sharp uptick in all-in-sustaining costs (AISC) — a key indicator of cost efficiency in mining. AISC climbed to $2,065 per ounce, up roughly 6% from $1,950 per ounce in the year-ago quarter. Excluding the results from the Los Filos mine in Mexico, which has been indefinitely suspended after the expiry of its land access agreement, AISC still climbed 9% to $1,979 per ounce, underscoring operational cost inflation that threatens margins. This upside reflects higher unit costs in Brazil, and higher costs and unplanned maintenance due to winter challenges at the Greenstone mine in Canada. Higher operational costs, partly due to the suspension of Los Filos mine operations, may continue to act as headwinds in the second quarter. Equinox Gold expects roughly $35 million in mine suspension and care and maintenance charges at Los Filos in the second quarter. Nevertheless, there is a silver lining as the company envisions costs whittling down with rising production in the second half of 2025. Equinox Gold Stock Outperforms S&P 500 Thanks to the rally in gold prices, EQX's shares have racked up a gain of 36% over the past year, underperforming the industry's 51.7% increase but topping the S&P 500's rise of 11.2%. Among its peers, B2Gold, Eldorado Gold and IAMGOLD have rallied 39.1%, 43.2% and 105.9%, respectively, over the same period. EQX's One-year Price Performance What EQX's Earnings Estimates Indicate Earnings estimates for EQX have been revised downward over the past 30 days. The Zacks Consensus Estimate for 2025 and 2026 has been revised lower over the same time frame. The Zacks Consensus Estimate for EQX's 2025 and 2026 earnings implies a year-over-year rise of 230% and 106%, respectively. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.) Final Thoughts: Hold Onto EQX Stock With a strong expansion roadmap and an accretive merger on deck, EQX is positioning itself as a high-growth gold player. Higher gold prices and the ramp-up of Greenstone are expected to boost its profitability and drive cash flow generation. Despite EQX's attractive valuation, its high costs warrant caution. Cost pressures may linger into the second quarter, but the second half of 2025 promises improved unit costs and operational discipline. Therefore, holding onto this Zacks Rank #3 (Hold) stock will be prudent for investors to capture the upside from production expansion and merger synergies. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. Today, See These 5 Potential Home Runs >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Iamgold Corporation (IAG): Free Stock Analysis Report B2Gold Corp (BTG): Free Stock Analysis Report Eldorado Gold Corporation (EGO): Free Stock Analysis Report Equinox Gold Corp. (EQX): Free Stock Analysis Report

U.K. PM Starmer says Israel-Iran conflict to be ‘centrepiece' of G7 summit in Alberta
U.K. PM Starmer says Israel-Iran conflict to be ‘centrepiece' of G7 summit in Alberta

Toronto Star

timean hour ago

  • Toronto Star

U.K. PM Starmer says Israel-Iran conflict to be ‘centrepiece' of G7 summit in Alberta

OTTAWA - British Prime Minister Keir Starmer says the escalating conflict between Israel and Iran will be a 'centrepiece' of this week's G7 leaders' summit in Alberta. Starmer says the summit provides an opportunity for world leaders to make a strong case for de-escalation. The British prime minister spoke briefly to reporters Sunday morning ahead of a meeting on Parliament Hill with Prime Minister Mark Carney. ARTICLE CONTINUES BELOW The two leaders are set to fly separately to Calgary for the G7 summit, which begins later today. Israel and Iran exchanged missile attacks for a third consecutive day on Sunday, with Israel warning that worse is to come. U.S. President Donald Trump predicted in a social media post Sunday that the two countries would soon make a deal to end the conflict. This report by The Canadian Press was first published June 15, 2025. Politics Headlines Newsletter Get the latest news and unmatched insights in your inbox every evening Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. Please enter a valid email address. Sign Up Yes, I'd also like to receive customized content suggestions and promotional messages from the Star. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy. This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Politics Headlines Newsletter You're signed up! You'll start getting Politics Headlines in your inbox soon. Want more of the latest from us? Sign up for more at our newsletter page.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store