Canada's main stock index rose
sharply on Tuesday as oil and mining firms were lifted by hopes
of further policy stimulus in China, helping markets shrug off
concerns over the deterioration of Spain's banking system.
Equities markets were boosted after Chinese media reported
that the government might pump as much as 2 trillion yuan
($315.28 billion) into the economy this year, although this
would be well below 4 trillion yuan ($635 billion) of stimulus
it did in the wake of the 2008-09 global financial crisis.
The news was a tonic for Canada's struggling materials and
energy sectors, which account for about 40 percent of the
weighting of the Toronto Stock Exchange's S&P/TSX composite
index.
SABIC contributes to national development
The Saudi Basic Industries Corporation (SABIC) sponsored the Industrial Innovation Award which was presented to developers of new ideas for industrial projects at a ceremony held in Riyadh on May 18.