CDIC repays $7.6-billion in debts

Article Abstract:

Canada Deposit Insurance Corp. (CDIC) has repaid the government C$7.6 billion in loans as well as C$1.7 billion in interest and said that it will be debt-free by the end 1998. The company stated that this would mean substantial reductions in CDIC premiums for banks and trust companies, which paid C$531 million in 1998 for those premiums. CDIC's loan was used to cover deposits at 32 financial companies that failed since 1980. Aside from eventually being debt-free, CDIC said that it will have C$400 million in reserves to cover future losses.

Comment:

Repays government C$7.6 bil in loans as well as C$1.7 bil in interest & said that it will be debt-free by the end 1998

Use of Funds, Insurance Agents & Services, Agencies, Brokerages, and Other Insurance Related Activities, Insurance industry, Canada Deposit Insurance Corp.

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Canada Post builds digital mailbox

Article Abstract:

Canada Post Corp. is joining forces with Cebra Inc. to set up a new automated system which will permit people to secure mail and other paper products by electronic means. The large Crown corporation has a reputation for delivering mail and packages at a much slower rate than is possible through the computer age. Canada Post produced $5 billion in revenues in 1997 for a 30% gain from 1992. However, Canada Post only generated a 12% increase in total mail volume for those five years, with a fall experienced in 1997.

Comment:

Is joining forces with Canada Post Corp. to set up a new automated system which will permit people to secure mail

General services, Public Mail & Express Services, Postal Service, Canada Post Corp., Systems integration, Cebra Inc.

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Russia eyes nuclear power co-operation with Canada

Article Abstract:

The plans of the Russian nuclear energy agency, Federal Atomic Energy Agency, to enter into a partnership with its Canadian counterpart Atomic Energy of Canada Ltd. for the generation of electric power are discussed.

Strategy & planning, Electric Power Generating, Electric Power Generation, Electric services, Russia, Planning, Nuclear industry, Administrative agencies, Government agencies, Alliances and partnerships, Company business planning, Electric power production, Atomic Energy of Canada Ltd.

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