Portal:Current events/Canada/March 2007

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Ottawa - The Conservative Government releases their proposed 2007 Federal Budget. This includes 39 billion dollars in fiscal balancing, which has attracted criticism from Eastern Canada. (CBC News)

March 8, 2007 (Thursday)

Ottawa - Prime Minister Stephen Harper announced plans granting Alberta a total of C$155.9 million towards making its energy industry more environment friendly. The majority of the funding will go towards research in ways to capture carbon dioxide emissions from the Athabasca Oil Sands. (CBC News)

March 7, 2007 (Wednesday)

Afganistan - The death of Cpl. Kevin Megeney, 25, at Kandahar Airfield continues to be investigated by a probe as his body makes the return trip home to Nova Scotia. Megeney, a reservist with the 1st Battalion Nova Scotia Highlanders from Stellarton, died Tuesday evening in what is being suggested as an accident. Since 2005, Megeney is the 45th Canadian to be killed in Afghanistan. (CBC News)

March 6, 2007 (Tuesday)

Texas - A nine-year-old Canadian citizen and his Iranian parents are forcibly being detained in a Texas detention centre after being stopped by United States officials. The plane bound for Toronto had to make an emergency stop in Puerto Rico where the family was found to be using stolen Greek passports. (CBC News)

March 3, 2007 (Saturday)

Atlantic Canada - The first lunar eclipse in 2½ years was visible to the Atlantic provinces in Canada. It was also visible to the eastern United States, Africa, Europe and much of Asia. As sunlight is filtered through the Earth's atmosphere a dim copper 'hue' illuminated on the surface of the Moon. (CBC News)

Canada - After a week of significant drops, the Toronto Stock Exchange experienced yet another 'triple-digit' loss, wiping out all the gains the market has made this year. The S&P/TSX Composite Index fell another 117.86 points closing at 12,863.27 making it almost 37 points lower than where it was last year, 12,908. Leading the fall was gold which dropped by 2.7% following a US$20-an-ounce in bullion prices. In an unusual trend, gold has been largely affected by these sell-offs. Over the past week, gold dropped US$42-an-ounce as investors quickly liquidated their shares. Energy stocks and oil futures have also been largely affected. (CBC News)

March 1, 2007 (Thursday)

Canada and the United States - Stocks continued to plummet as 'bargain hunting' began at the Toronto Stock Exchange (TSX) and New York Stock Exchange (NYSE). In the first 15 minutes of trading the S&P/TSX Composite Index fell another 249 points resting at 12,794, causing wide spread losses across all sectors. In what is being called a fourth stock market correction, at 3:00pm ET the benchmark index recovered 204 points, making it only off by 0.4% or 45 points. The NYSE experienced an even more 'pronounced' bounce-back. The Dow Jones Industrial Average of its blue chip stocks fell 209 points, but again at 3:00pm ET, recovered with losses of only 2 points. (CBC News)