Cuba fund going public on Toronto Stock Exchange

Cuba Standard.com/

After 16 years of investing in Cuban hotels and commercial real estate, Ceiba Investments Ltd. plans to list its shares on the Toronto Stock Exchange.

With an Initial Public Offering planned before the end of the year, the Channel Islands-based company wants to price its shares for an initial public offering at least at US$1.20, according to the company’s annual report.

In June, Ceiba terminated a three-year old agreement with its investment adviser and converted from a regulated close–end investment fund to an internally-managed investment company, while submitting an application to list its shares on Canada’s largest stock exchange.

In order to fund new investment projects and to ease its dependency on cash flows from operations, the company decided to go public on the Toronto Stock Exchange, “a highly liquid international market,” Ceiba said in its annual report.

Ceiba has quietly become one of the largest foreign investors in Cuban hotels, thanks to some $170 million in island-related investments. They include a 86-percent share in HOMASI S.A., a Spanish holding company that owns 50 percent of the Meliá Habana hotel; a 71.525-percent share in Corporación Interinsular Hispana S.A., another Spanish company that owns the foreign half of three Sol Meliá-managed hotels in Varadero; and a 50-percent interest in TosCuba S.A., a joint venture that is developing a 400-room hotel at Playa María Aguilar near Trinidad. Construction is expected to begin in 2013.

Ceiba also holds a 49-percent share in Inmobiliaria Monte Barreto S.A., the joint venture that owns the Miramar Trade Center, a 600,000-square foot office complex in Western Havana. 

Ceiba bought these participations over the past five years from other foreign companies. The company is completely debt-free.

Ceiba parks some of its funds by providing loans to Cuban borrowers. As of March this year, the company had close to $20 million outstanding from a loan to Casa Financiera FINTUR S.A., the main collection agent for Cuba’s tourism income, and $2.5 million to Banco Internacional de Comercio S.A. Ceiba has loaned FINTUR money since 2002.

Ceiba declared a net profit of $13 million in March 2011, compared to a net profit of $528,000 in 2010.

The main shareholders and executives in Ceiba are Chairman Jaime García-Andrade, Chief Investment Officer Enrique Rottenberg, CEO Sebastiaan A.C. Berger, and Colin Kingsnorth.

"I came to Canada not to live in a muslim country"

Uploaded by sdamatt2 on Nov 18, 2011

Mohammad calls in to the Arlene Bynon show on AM 640 to protest the Metro Toronto Police Service's plan to attract muslim women by putting together a special hijab-ready version of the uniform. As Mo puts it, he came to Canada to get away from that kind of medieval crap. Bill Blair, Chief of Police, remains a jackass.

Occupy Toronto secrets revealed: Tents empty!!!

Uploaded by sdamatt2 on Nov 18, 2011

Ezra grabs a heat-sensing infrared camera and makes a midnight run to Occupy Toronto where, naturally, hilarity ensues.

Rare 50-carat diamond up for auction in Toronto

cp24.com

TORONTO — A rare 50-carat diamond is up for grabs in Toronto.

The round diamond, valued at $10 million, will be auctioned off this afternoon at the Royal Ontario Museum along with dozens of other pieces of jewelry.

Organizers say it's the first time such rare items are up for auction in Canada.

Kashif Khan, director of the Ritchies auction house, says the sale is attracting international interest.

But he says it's hard to predict what price the diamond will fetch.

The auction is scheduled to run between 2 p.m. and 4 p.m.

Hacker group #Anonymous threatens cyber attack if city evicts #OccupyToronto

Ezra Levant visits smelly Hippies at Occupy #Toronto

Coren & Klagsbrun on Occupy Toronto

More than 1,000 Occupy Toronto protesters hit the streets on Monday.

They marched from St. James Park north on Church St. to a social justice rally at Ryerson University followed by a march down Yonge St. to get back to the tent city they put up in the park.

The protests in Toronto are a spin-off to the protest in New York City's Wall Street against corporate greed that have been going on for a month.

By the dinner hour Monday, protesters blocked the Yonge and Dundas Sts. intersection for about 20 minutes before they returned to the park.

Carolyn Weatherson joined the protest because she says lobby groups have too much power.

"They are very influential. It is important for the vast majority to stand up and have influence," Weatherson said.

"We have corporate tax cuts, billions in subsidies for the oil sands, the purchase of fighter jets with no transparency, all done in in camera meetings without the media," she said. "I find it terrifying. Our voices need to be heard."

Dallas, who didn't give a last name, said he is protesting to voice his opinion.

"Here I have spoken to people from all over the world and shared views. I hope the dialogue continues for a better future," Dallas said.

Marching is a great way to show dissent, said Elliot, who also didn't give a last name.

"We need to discuss if we should have capitalism and what should replace it," he said. "Smart people need to be talking about this."

Sari Stern claims to be one of the 99% of people being screwed by corporations.

"I am here to show how large we are. I am a house cleaner and I took the day off work to be here. As an individual I'm looking at retiring under a bridge and that is not right," Stern said.

#Canada - 100-year-old Finishes Marathon

Who are behind Occupy Toronto Movement?

Occupy Toronto General Assembly: Spontaneous?

Toronto Braces for 'Occupy' Protests

By KAREN JOHNSON And CAROLINE VAN HASSELT

TORONTO—Hundreds of protesters are expected to converge on Toronto's financial district Saturday, in demonstrations inspired by the month-old Occupy Wall Street movement in the U.S.

The demonstrations, organized with the help of social media, are part of a groundswell of protests spanning several countries, aimed at drawing attention to the growing disparity between the rich and the poor.

"Income inequality is growing in Canada, as elsewhere," said Kevin Konnyu, a Toronto photographer and Occupy Toronto volunteer. "There's no merit in comparing yourself to the worst countries in the world."

More than 10,000 people have registered online to learn about the protests and Monday's planned march to the Toronto Stock Exchange, Mr. Konnyu said.

"I want a world where people and the planet come before profit and greed, and this requires all of us to participate because it just won't be delivered based on demands alone," he said.

Similar demonstrations are taking place in cities across Canada and across the globe.

"I think that we're different in Canada," said Ted Menzies, Canada's Minister of State, Finance, at a news conference Friday in Toronto.

He feels that high youth unemployment helped precipitate the U.S. protests. The U.S. jobless rate for people age 15-24 was 17.4% in September, compared to 14% in Canada. Both are well below Spain, where the jobless rate for people under 25 stands at 45.7%, and Greece, at 38.5%.

"I don't blame those individuals for being frustrated that they can't find a job," Mr. Menzies said. "I sympathize with their position. I'm not sure I sympathize with the method, but that's their privilege."

One Bay Street trader in Toronto, who asked not to be named, said he found the movement to be "reprehensible."

"The big bad banks? Really? This isn't New York. This isn't Athens. It's not London. It's Toronto. It's a different ball game," the trader said.

In Toronto, where the violence of last year's Group of 20 protests is still fresh, officials are on alert. The banking industry's trade group and the country's biggest lenders have held conference calls with Toronto police and property management companies to prepare for disruptions arising from the Occupy Toronto protests.

"We're still monitoring the situation and talking to police and property managers," said Maura Drew-Lytle, a spokeswoman for the Canadian Bankers Association.

The headquarters of the five biggest banks and the Toronto Stock Exchange are all located within a four-block radius in downtown Toronto.

The banks have business continuity plans to deal with any disruptions, a bank industry spokeswoman said. Plans include beefing up security to working in satellite locations. The banks previously implemented them in 2003 for the SARS virus outbreak and massive blackout in the Northeast, and in 2010 for the G20 protests.

"While we're not expecting disruptions to service at this time, we are prepared to close branches or offices if there are concerns to safety," said Wojtek Dabrowski, a Toronto-Dominion Bank spokesman.

The protests also coincide with Sunday's Scotiabank Toronto Waterfront Marathon. which is expected to draw 22,000 competitors on a course along the waterfront and downtown Toronto. A spokeswoman said there have been discussions about the Occupy Toronto protests, but was unable to provide further details.

A spokesman for the Toronto police said preparations for the protests were under way but declined further comment.

Toronto School Board: "only whites are racist"

U2 Open Toronto Film Festival

What happened to the Goddess of Democracy?

TORSTAR NEWS SERVICE 

Cheuk Kwan accompanied a guest to York University this week, hoping to show the visiting Hong Kong legislator a gold-painted statue commemorating the victims of the 1989 Tiananmen Massacre.

To Kwan’s dismay and embarrassment, the 13-foot tall icon — normally standing in the lobby of the campus student centre — had vanished.

Its sudden disappearance had some wondering: Could the statue’s removal possibly be the result of some sinister political pressure from the Chinese government? Or was it carted off simply because, as university administrators contend, the figure was attracting fruit flies?

Not only was the statue removed, it appears it was tossed out with the trash.

“The Goddess replica is an iconic symbol of China’s democratic movement. We’re upset that they just threw it into a scrap pit,” said Kwan, chair of the Toronto Association for Democracy in China, the donor of the statue created by York fine arts students.

Kwan had later learned the statue was removed just prior to the Monday visit of Cheuk Yan Lee, an outspoken critic of the Chinese government.

“The first thing that came to our minds was whether this was a political manoeuvre under pressure from Chinese officials.”

The original statue in China was built by Beijing Fine Arts Academy students at the height of the democratic movement in Tiananmen Square that was later crushed by army tanks on June 4, 1989.

Toronto Public School Board condones muslim prayer in school

Toronto Jewish Synagogue Vandalized with Muslim Graffiti and Swastika

Since Anders Behring Breivik was not a Muslim, perhaps we should conclude that a blond-haired, blue-eyed Norwegian spray-painted "Islam will rule" on the synagogue. Above all else, we must remember that Muslims love Western democracy and have no intention of imposing Islam on anyone, especially Jews.

Toronto--A synagogue in the city's northeast end was the target of anti-Semitic graffiti.

Staff members of Beth Tikvah Synagogue on Thursday found the words "Islam will rule" and a swastika spray-painted on the exterior of their building.

According to a press release published by the Canadian Council for Israel and Jewish Advocacy, police have been contacted and measures were taken to increase the security at the synagogue.

Shimon Fogel, CEO of the Canadian Jewish organization said in a statement that the primary concern is the safety of the staff and its congregants.

"We will remain vigilant in the wake of this disturbing and offensive event." (Source)

CANADA: Muslim men sacrifice a sheep in the park to celebrate start of Ramadan

Bare Naked Islam's Weblog

Toronto Police are seeking advice from a Crown attorney to determine if any charges apply to two men who allegedly sacrificed a sheep in a North York park for good luck.

Toronto Sun (H/T Susan K)   Police were called by a woman claiming she saw someone trying to escape from the trunk of a car. She managed to get the licence plate and officers later found the vehicle in the Islington and Finch Aves. area park.

Officers found duct tape, binding twine and excrement inside the trunk. Moments after finding the car, two men came running towards the car and they were taken into custody, sources said.

But they told officers that they had sacrificed a sheep, which they bought for about $150 from a farm near Hwy. 27 in York Region, and slaughtered it for good luck (for Ramadan). Stunned officers found the sheep, the bloodied rock where the slaughter occurred and a ceramic bowl used in some sort of religious rite to ensure good fortune, along with two bloodied knives and a meat cleaver.

SHARIA LAW SEEMS TO BE CREEPING INTO A CANADIAN MIDDLE SCHOOL

Story Highlights:

• Critics claim Toronto District School Board is breaching Ontario’s Education Law by allowing Islamic prayer during the school day
• An outside imam comes to the school to conduct weekly prayer meetings
• Young girls who are menstruating are not allowed to participate and are separated from the group

In America, the debate over prayer and its place in public schools never seems to simmer. But, we’re not alone. The heated discussion over faith in public education is occurring in Toronto, Canada, as well. In addition to general frustration over prayer, advocates and critics are outraged by the fact that young Islamic girls are separated from others during meetings due to menstruation – a provision that indicates Sharia law is potentially being imposed in the public school.



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Mosquing of the Public Schools in Toronto. No infidels allowed.

By barenakedislam 

Islamic ritual prayers are conducted in a Toronto public middle school every Friday in the school cafeteria.” Non-Muslims are forbidden from entering the cafeteria during that time.

Blazing Cat Fur - Every Friday my daughter’s school cafeteria changes into a mosque as dozens of Muslim boys and their imams (Islamic preachers) lead Islamic ritual prayers and no one else can even walk through the cafeteria. 

Some imams (Islamic preachers) come from the outside of the school and lead Muslim students in the Islamic prayer and this happens at the school Cafeteria after the lunch on Fridays. All other non-Muslims are in classes in the afternoon when they are using the cafeteria as mosque. There is a mosque nearby but the Muslim kids pray in the school

School administration take part preparing the Cafeteria and making it into mosque every Friday and no one but Muslims can use the Cafeteria during the Islamic prayers on Friday.

And there are a number of other incidents involving Islam and other anti-Christian issues that I complained about, including a white convert to Islam who was a supply teacher and who openly promoted Islam and bashed Christianity last year!”

“Mark, my other two kids also go to a different public primary school and the snack for all the kids in this primary school is all “Halal”. My wife complained about it and she was told she can prepare her own snack for our kids but the school would not drop the Halal menu for all the students. All the school kids in this primary school have to eat halal snacks whether they are Muslim or not”

Update: It is confirmed thanks to reader Munimula, the Valley Park Middle School cafeteria is turned into a mosque and a local Imam is brought in to lead the children in worshipping Allah: “Prayer Service, the school is providing a venue for the Muslim student’s to have prayers at school on Fridays. An Imam from the neighbouring mosque comes to our school and conducts the prayers. Prior to this, students signed out early on Friday afternoons to go to mosque. By staying at school, valuable instructional time is saved for our students.”

The document is also accessible here.

Foes blast Ford over decision to skip Pride parade

He’s marched with the Easter Bunny, Santa Claus and St. Patrick’s Day revellers, but Toronto’s mayor won’t be joining the city’s annual Pride Parade.

Rob Ford is skipping the celebration that draws roughly half a million people to Toronto’s streets to spend the Canada Day weekend in cottage country with his family. That decision – which breaks a tradition of mayors marching that spans more than a decade – is a reminder, say leaders of the gay community, of how fragile the gains are that they have made. Showing up for Pride, they say, would be an easy way for the mayor to show support for an important part of the Toronto community. Taking a pass, they say, sends the wrong message.

  

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