PRESS DIGEST – CANADA – March 31

BANGALORE, March 31(Reuters) – The following are top
stories from selected Canadian newspapers. Reuters has not
verified these stories and does not vouch for their accuracy.

THE GLOBE AND MAIL:

– On paper, Salman Farooq was the perfect Tory candidate: A
Pakistani immigrant with a business built from scratch, an
attractive young family and friends in high places.

But on Wednesday, just days after he quietly abandoned his
provincial election bid, Farooq found himself in the back seat
of a police cruiser and facing charges related to mortgage
frauds dating back to 2007 – including the identity theft of a
Pakistani diplomat.

Report on Business Section:

– National Bank of Canada is in talks to buy
mid-size brokerage Wellington West Holdings Inc. in an effort to
bolster its presence outside Quebec, as the bank aims to grow
through acquisitions.

– Bombardier Inc (BBDb.TO: Quote, Profile, Research) is showing signs of emerging
stronger than ever from the recession, with a robust
fourth-quarter net profit of $325 million or 18 cents per share.

NATIONAL POST

– The RCMP arrested a man for terrorism-related offenses at
Pearson International Airport on Monday. The suspect, who has
not been named, has been charged with attempting to participate
in terrorist activity and providing counsel to a person to
participate in terrorist activity.

Financial Post section:

– U.S. President Barack Obama outlined plans Wednesday to
slash U.S. oil imports by more than 30 percent over the next
decade, but singled out Canada among a handful of nations the
United States must continue to rely on as “stable and steady”
foreign sources of secure energy.

– The controversial fighter jets Canada plans to purchase
are likely to cost more than C$100 million each, according to a
prominent U.S. budget watchdog, casting doubt on the
C$75-million figure the Conservatives put forward ahead of the
election campaign.

PRESS DIGEST – CANADA – March 31