Canada-Asia News Service
A daily summary of Canada-Asia business and government news including top headlines from the region. Following a story? Search the archives.
Canada Gives C$19.8 Million to Bangladesh for Vocational Training
The Government of Canada has provided C$19.8 million in grants to Bangladesh to strengthen the country’s technical and vocational training institutes. Canada will provide the funds through the multi-donor trust fund of the World Bank for the ongoing Skills and Training Enhancement Project (STEP) over the next four years, extending beyond the 2016 culmination of the STEP project.
Bombardier, Nantong Tongzhou Bay Aviation of China Sign LOI for 30 Aircraft
Bombardier Aerospace has announced Nantong Tongzhou Bay Aviation Industry Co., Ltd. has signed a letter of intent (LOI) to acquire 30 Q400 NextGen aircraft, as it prepares to launch commercial airline operations in China through an airline to be named Sutong Airlines. Based on the list price, the order would be valued at approximately US$995 million. Sutong Airlines will be based in Nantong, Jiangsu and plans to start operations in 2015. Bombardier is a transportation manufacturer based in Montreal.
Alter NRG Signs Exclusive Licence Agreement for Thailand Market
Alter NRG Corp. has signed an agreement to sell Waste2Tricity International (Thailand) Ltd. an exclusive licence for the Thailand market for an initial term of five years for C$2 million. Waste2Tricity, a UK-based electricity developer using the Westinghouse plasma gasification technology owned by Alter NRG, has paid C$1 million for the licence, with the remaining C$1 million payable in December 2014, plus agreed royalties. Alter NRG is an alternative energy company based in Calgary.
Upper Canada District School Board Extends Cooperation with China’s Suzhou International Foreign Language School
The Upper Canada District School Board (UCDSB), which covers much of Eastern Ontario, has signed a five year cooperation agreement with the Suzhou International Foreign Language School (SIFLS) in China. The agreement extends to the UCDSB-SILFS cooperation which has been active for the past seven years. There are currently about 240 international students studying at schools across the UCDSB.
Maple Leaf Green World Sells China Subsidiary
Calgary-based Maple Leaf Green World Inc. has agreed to sell its wholly-owned China subsidiary, Inner Mongolia Maple Leaf Reforestation Co. Ltd., which holds 100% of the rights and title to its Inner Mongolia greenhouse, for approximately C$690,000. The sale is being made to a private group that is represented by a Canadian citizen based in Vancouver. Maple Leaf Green World focuses on eco-agriculture and renewable energy.