Catamaran Corp. plunged 3.1 percent after Morgan Stanley cut its rating on the stock. The Standard & Poors/TSX Composite Index rose 15.01 points, or 0.1 percent, to 12,821.48 at 2:13 p.m. in Toronto. The benchmark Canadian equity gauge has surged 5.7 percent this quarter and is up 3.1 percent in 2013. BlackBerry rallied 4.1 percent to C$9.36. The smartphone makers tentative agreement with a group led by Fairfax, its largest shareholder, would pay $9 a share, according to a statement today — a 3.1 percent premium over BlackBerrys closing price last week. The stock plunged 17 percent Sept. 20 after the company released second-quarter earnings on that fell short of analysts estimates. The Waterloo, Ontario-based company also said its cutting 4,500 jobs and taking a writedown of as much as $960 million for unsold inventory of its Z10 phone — a touch-screen device unveiled in January as its answer to the iPhone. Open Books The acquirers will have six weeks to scrutinize BlackBerrys books, a span in which the smartphone maker can seek other takeover offers. Fairfax, a financial services holding company, added 0.4 percent to C$417.50. Wireless carriers rallied after the industrys largest domestic players applied to bid in a wireless spectrum auction on Jan. 14, according to a list on Industry Canadas website. Rogers Communications, Canadas largest wireless carrier, increased 1.5 percent to C$45.49 and BCE Inc.
Lots of countries have dirty wars. The Balkans, Northern Ireland, Chechnya, Congo, Rwanda, Iraq, Afghanistan and Timor come immediately to mind. But Somalia was always a bit special. The level of anarchy and the length of the anarchy that I saw there during the early and mid-1990s and the rivalries that pitted clan against clan and sub-clan against sub-clan cannot be easily compared to anywhere else. My first visit to the distant desert town of Belet Huen took place several months before the Canadian Airborne Regiment arrived there in 1993. Somalis had been starving and I arrived on a Red Cross charter flight with a crew from ABC News. Only a few days earlier kids had been writhing on the ground but after a few days of high protein rations, they were already up and around, despite showing clear signs of starvation. As the Red Cross workers unloaded food and medicine the re-energized kids started to throw rocks at them. A few metres away their parents inexplicably laughed and egged their offspring on as their European and North American benefactors danced a painful jig. The relief mission came to an abrupt end, the Red Cross plane returned to Kenya with all of its passengers and most its cargo and, for a time, the Somalis went back to starving. My next trip was to the coastal town of Kismayo where I spent a night in a compound for foreign aid workers. For hours in the extreme heat, humidity and gloom we listened to the screams of a wretched man in the compound next door as his captors beat the soles of his feet. The third visit was to Mogadishu. The airport was secure and bustling with purpose in a way that every temporary U.S. air base does.