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Harmony Airways entered the airline business in firmly devoted to providing fast and reliable service throughout Canada and the United States. Today, Harmony Airways continues to maintain that standard with more top-of-the-line Harmony Airways aircraft added regularly. Harmony Airways serves destinations throughout the United States and Canada. With dedicated service and daily Harmony Airways departures throughout the United States and Canada, Harmony Airways has proven itself as a leader in air travel.

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POSTED BY CHRIS TITAN AT at 2:31 AM 0 comments
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Pain and Wastings :
Las Vegas looks good to Canadians

Canadian Dollar Cracks 90 U.S. Cents

ASSOCIATED PRESS

TORONTO (AP) -

The Canadian dollar cracked 90 U.S. cents on Tuesday, setting a new 28-year high and helping Canadians to realize cheaper U.S. imports of everything from vegetables and clothing to computers.

The loonie rose to 90.38 cents, up more than half a cent from Monday's close and its highest level since 1978, when Pierre Trudeau's Liberal government ran the country and disco was still king. Canada's dollar coin has a bird, a loon, on one side, from which the nickname is derived.

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The currency had an intraday peak of 90.42 cents, as the American greenback weakened against most foreign currencies and investors remained optimistic about the Canadian economy and robust oil and gold prices.

Many analysts are predicting the loonie could soon hit 95 cents or even be on par with the U.S. dollar, something that hasn't happened since the 1970s.

But while the Canadian dollar's increase was good news for Canadians traveling to the United States and Canadian businesses importing machinery and other goods, economists warned it is sure to squeeze exporters in the country's industrial heartland of Ontario and Quebec.

"The guy on the street who is thinking of going to the U.S. this summer is going to feel a whole lot better because purchasing power has gone up a lot," said Warren Jestin, Scotiabank's chief economist.

"In terms of manufacturing and jobs, it's not good for Ontario because we are so focused on the U.S. marketplace - roughly 90 percent of our exports in the province go there," Jestin said.

That's because a higher loonie pressures profits for manufacturers - one of the nation's largest employment sectors - which could result in the loss of thousands of jobs.

The Canadian dollar has not traded above 90 cents since February 1978, but closed just shy of that mark in November 1991.

It hit an all-time high against the greenback on April 25, 1974, at $1.04.