SK Economic Fundamentals 2008-07

[joeiannuzzi]

Hotel planned for first phase of McNab Park redevelopment

Construction of a new hotel on Airport Drive could begin by next spring as the first phase of the 50-acre redevelopment of McNab Park.

The city is awaiting a concept plan from the park`s owner, expected in a few weeks. But Alan Wallace, the city`s manager of neighbourhood planning, told council Wednesday that a hotel will be the first phase, possibly with an office building.

The owner is considering sites on Airport Drive at the intersections of 45th or Cynthia streets, Wallace said, as Gil Dobroskay of Guardian Property Management listened in the gallery. Dobroskay could not later be reached for comment.

http://www.canada.com/saskatoonstarphoenix...dc-20e050e2d1bf

 

[joeiannuzzi]

Funding provided for lot development

Northern Saskatchewan communities will receive more than $3 million from the provincial government to provide serviced lots to meet increasing demand for housing.

La Loche will receive $2 million and La Ronge will receive $1 million. After the lots are built and sold, the communities will repay the government.

http://www.canada.com/saskatoonstarphoenix...0d-badaeee6227e

 

[joeiannuzzi]

Uranium price has likely hit bottom, Denison chief says

It is starting to look like the long, steep decline in uranium spot prices is coming to an end. And for producers like Denison Mines Corp. (DML/TSX), it couldn`t come soon enough.

"I think we have hit the bottom on the basis of the cost of new production with reasonable profit built in," chief executive Peter Farmer said in an interview. "I don`t think you`re going to see a price again much below $60."

Uranium was the hottest commodity of 2006 and early 2007 as the spot price of the radioactive metal shot to US$138 a pound. That was triggered largely by hedge funds and other speculators .

http://www.nationalpost.com/todays_paper/s....html?id=659720

 

[joeiannuzzi]

Regina gets Vegas flights

Decked out in a green and white Elvis-inspired jumpsuit, Robert Palmer, director of public relations for WestJet, announced that in about seven weeks, Regina will have a direct flight to Las Vegas twice a week.

Palmer, doing his best Elvis impersonation, said he was happy to announce the new flights on Thursday at the Regina airport. The introductory cost for a one-way ticket to sin city will cost travellers $129 plus taxes and fees.

Beginning Sept. 8, direct flights to Las Vegas will be available Mondays and Fridays. The seasonal flights will run until about May 1. Departure times from Regina are set for 4 p.m. with an expected arrival time in Las Vegas at 5:55 p.m. and return flights are scheduled for 11 a.m. and will arrive at the Regina airport at 2:55 p.m.

http://www.canada.com/reginaleaderpost/new...78-fd731f2e3fca

 

[joeiannuzzi]

FCC continues financial growth

During its last fiscal year, Farm Credit Canada (FCC) lent $4.3 billion to more than 19,000 farmers and agri-businesses across the country, while enjoying its 15th-consecutive year of growth.

The federal Crown corporation -- which has its headquarters in Regina -- posted a net income of $205 million for the fiscal year ending March 31 according to its annual report, released Thursday. That`s up about $1.5 million from the year before and up $100 million from 2003-04.

According to president and CEO Greg Stewart, FCC`s growing business reflects farmers` belief in a prosperous future for agriculture.

http://www.canada.com/reginaleaderpost/new...d9-c1a0906bf35b

 

[joeiannuzzi]

Lanigan mill upgrade done

LANIGAN -- Potash Corporation of Saskatchewan`s Lanigan operation is ready to raise its annual capacity by 1.5 million tonnes now that $410 million worth of expansion and refurbishment has been completed at the site.

Company executives, employees, suppliers and regional leaders gathered at the mine and mill operation about 100 kilometres east of Saskatoon Thursday to celebrate the completion of the project that saw the site`s Phase One mill -- which had sat idle since 1985 -- refurbished and reopened. New equipment underground and on the surface was also part of the PotashCorp`s debottlenecking and compaction expansion at Lanigan, as was an upgraded ore hoisting process.

http://www.canada.com/reginaleaderpost/new...a6-002804697598

 

[joeiannuzzi]

Potash production to be increased

SASKATOON -- Potash Corporation of Saskatchewan will further increase its potash production by 2.7 million tonnes during the next four years, the company announced Thursday.

On the same day PotashCorp cut the ribbon on a $410-million expansion at its Lanigan mine, it also said it would invest $1.6 billion US to ramp up production to 18 million tonnes by the end of 2012.

The increase in capacity will come through a new debottlenecking project at the Allan mine, and further investments in projects already planned at Cory and Rocanville. Debottlenecking refers to a variety of process improvements to increase efficiency, ranging from adding mining machines to increasing the size or speed of conveyors.

http://www.canada.com/reginaleaderpost/new...e5-55f41ab18fa6

 

[joeiannuzzi]

Red-light alley slated for closure

When they spot cars parked in their back alley in Pleasant Hill, Kim Mighton and Paul Fischer bang on the car windows and shine flashlights inside. Fischer admits he often goes further to chase the johns away.

"Every year I`ve beaten up someone here," said Fischer, folding his strong, tattooed forearms as he surveys the shady alley. "I give it to them pretty good."

http://www.canada.com/saskatoonstarphoenix...2b-61b0ed76ac45

 

[joeiannuzzi]

More options for buyers in real estate market

Housing prices continued to rise unabated in Saskatchewan`s two largest cities last quarter despite substantial increases in listings, a survey released by Royal LePage shows.

However, Royal LePage expects to see a "period of stabilization" in a market that has seen "explosive growth" during the last two years.

"For the first time in nearly two years, buyers have decent levels of inventory to choose from and an actual chance to negotiate purchase prices," said Norm Fisher, sales manager for Royal LePage in Saskatoon.

http://www.canada.com/saskatoonstarphoenix...2d-a5ad7b9b8ffc

 

[joeiannuzzi]

Alberta`s Reece Energy gets busy with Sask. wells

Reece Energy Exploration Corp. focused its second-quarter activity at its Dodsland Viking play near Kindersley, the company announced this week.

Nine horizontal, multi-staged fractured wells were drilled at the site during the quarter and, by the end of June, seven of the wells were in production, according to a Reece news release. The Medicine Hat, Alta.-based oil and gas company also drilled two of three exploratory wells in the Bakken play during the second quarter.

http://www.canada.com/saskatoonstarphoenix...00-8484687d3d92

 

[joeiannuzzi]

Wall, Stelmach oppose new deal

Saskatchewan`s opposition to a "cap-and-trade" system for cutting greenhouse gas emissions remained firm Friday, even as Ontario joined a coalition of three other provinces and seven U.S. states backing the idea.

But Premier Brad Wall said Saskatchewan`s decision to emphasize carbon capture technology -- where CO2 is stored underground and can be used in enhanced oil recovery instead of being emitted -- doesn`t isolate it from provinces in the cap-and-trade camp.

"I think there`s a recognition by all the premiers that each province is going to pursue things that are good for their province," said Wall, at the close of a three-day gathering of Canada`s 13 provincial and territorial leaders in Quebec City.

http://www.canada.com/reginaleaderpost/new...fd-edb972292c05

 

[joeiannuzzi]

Town gets together, purchases store

The residents of the town of Wapella and its surrounding area have proven the age-old adage -- where there`s a will, there`s a way.

At the end of March, Wapella, which is located on the Trans-Canada Highway about 190 kilometres east of Regina, lost its only grocery store.

"We had family problems so we had to quit because I couldn`t be there any more and my partner couldn`t run it by herself," explained Carol Restau, who had owned and operated CD Fine Foods in Wapella for 81/2 with her sister-in-law, Dawn Restau.

http://www.canada.com/reginaleaderpost/new...79-b3d3abceca08

 

[joeiannuzzi]

Sask. leading nation again

Saskatchewan saw the largest percentage increase in wholesale trade in Canada in May, jumping nearly 45 per cent over last May to over $2.5 billion, according to a Statistics Canada report released Friday.

Over the same period, Canada experienced only a 1.2-per-cent increase.

On a month-to-month basis, Saskatchewan`s increase in wholesale trade also led the nation in May, with wholesale trade up by 5.8 per cent between April and May. Nationally, the average increase was only 1.6 per cent.

http://www.canada.com/reginaleaderpost/new...e9-fb729ae6c26b

 

[joeiannuzzi]

Neighbours at odds over walkway

The We Are Many festival promoting environmental sustainablity has been stripped of its headliner.

But a drug charge against Barenaked Ladies front man Steven Page has nothing to do with his non-appearance.

He cancelled months ago, said festival board member Julia Laforge.

Page had initially written the festival saying he was interested in playing. But it wasn`t a contract, Laforge said. Page cancelled because the Ladies had a concert scheduled in New York on the same date. It`s now cancelled.

"We were kind of upset with the fact that they had a change of plans," she said.

The festival, which will accept donations as admission, goes ahead Aug. 22-24 in Diefenbaker Park. It received a $22,500 city grant earlier this year.

http://www.canada.com/saskatoonstarphoenix...eb-40ff7c8debff

 

[joeiannuzzi]

WTO talks key to farm economy: ag minister

REGINA -- Saskatchewan`s future farm prosperity relies on a successful outcome to long-running global trade talks that are back in the spotlight next week, Agriculture Minister Bob Bjornerud says.

But even within Canada, there are differing opinions on how federal negotiators should proceed.

Bjornerud said "trade-distorting" farm subsidies and agricultural tariffs need to be addressed.

http://www.canada.com/saskatoonstarphoenix...58-1b2cd937e933

 

[joeiannuzzi]

`Have-not` provinces now flexing economic muscles

Surging worldwide prices for commodities are transforming former "have-not" provinces such as Saskatchewan and Newfoundland into economic powerhouses. The resulting shifts in economic power will have an impact on all of Canada.

- - -

To find the front lines of the global commodities boom, drive an hour east from Saskatoon on the Yellowhead Highway to the world`s largest potash mine in Lanigan, Sask.

http://www.canada.com/edmontonjournal/news...2f-7a208e45c8cd

 

[joeiannuzzi]

First Nations in Taiwan oil deal

The other side of a mysterious oilsands story out of Taipei emerged

Friday when the head of a Saskatchewan-based First Nations business collaboration revealed four of the province`s aboriginal communities have struck a partnership with Taiwan`s state-owned petroleum refiner.

Any pursuit of oilsands development in Saskatchewan by CPC Corp., one of Taiwan`s largest refiners and gasoline retailers, will be done as a joint-venture alongside Indian Oilsands Corp., said Ken Thomas, a Saskatoon-based economic development expert who helped unite the parties and who has previous business ties to Taiwan.

http://www.canada.com/calgaryherald/news/c...c2-93642c13f96f

 

[joeiannuzzi]

Town takes first steps toward expansion

During the July 14 town council meeting, a resolution was made to go ahead with annexation to properties around town.

With these properties on their way to become included within town boundaries, the door has been opened to develop the community further.
The properties to be annexed are located east of town, south of the golf course, west of highway 4 and north on highway 55.

The properties that are owned by the Town of Meadow Lake are to be developed in the future as residential, commercial and community services areas.

"We`ve listed all the properties, I`ve spoken to all of the owners and they are all in agreement of the annexation," said Town Administrator Richard Levesque.

http://www.meadowlakeprogress.com/This%20W...ess/411520.html

 

[joeiannuzzi]

The heat still on in the local housing market

The heat still on in the local housing market
By Matthew Liebenberg
Journal Staff

The housing market might be cooling down in Regina and Saskatoon, but the local property market is still creating a lot of heat.
According to the latest statistics from the Canadian Real Estate Association (CREA), sales activity is slowing down in Regina and Saskatoon.
"Record numbers of new listings are creating more balanced resale housing markets in many centres, and nowhere has this trend been more evident than in Regina and Saskatoon," CREA said in a June 26 news release.
Local realtors say demand is still outstripping the supply of homes available for resale.
"The local market has been doing very good over the last two years," broker Grant Mollberg from Mollberg Agencies said. "So far I don`t see a whole lot of changes that are happening. They`ve got a lot of houses listed in Saskatoon and Regina, but we`re not seeing that same thing repeated here. We need more listings in Nipawin."

http://www.nipawinjournal.com/News/411148.html

 

[joeiannuzzi]

Trailer rental property under order

Extensive damage to a trailer rental home on 306 Second Street West, took place during a late night party May 21, has town council wondering whether or not the building should be condemned.

"The landlord was sent, or will be sent, a letter, and that due process is going on now," Nipawin director of finance Jerry Fizell said, adding that they`re issuing an order to have the corrections made to the property.
During a party that lasted until the early morning of May 21 a vehicle ran into the home`s porch, destroying it. The porch has since been removed. As a result of concern amongst neighbours who have complained about the home`s appearance and noise levels attributed to its residents, town council is issuing a formal request for a building inspector to visit the scene to see whether or not the trailer home requires repairs or demolition.

http://www.nipawinjournal.com/News/411153.html