Philippine Asian News Today Vol 19 No 18 - Page 12

BUSINESS NEWS 12 PHILIPPINE ASIAN NEWS TODAY September 16 - 30, 2017 7th of a series Weaving Canada’s Indigenous Traditions into the Canada 150 Bank Note The Canada 150 bank note celebrates Confedera- tion with a unique design de- picting our history, land and culture. Tightly woven into our history, and the story told on this special note, are sev- eral elements depicting Indig- enous traditions and culture. In addition to the por- trait of Senator James Glad- stone, who represents the role of Indigenous peoples in government, the Canada 150 note incorporates the artwork Owl’s Bouquet by acclaimed Inuit artist Kenojuak Ashe- vak and the distinctive As- somption sash, an important cultural symbol of the Métis people. James Gladstone or Akay-na-muka (his Blackfoot name) was a member of the Kainai First Nation (Blood Tribe). In 1958, he became Canada’s first senator of First Nations origin. He is also the first Indigenous person in Canada to appear as a por- trait subject on a Bank of Canada note. Gladstone committed himself to the betterment of Indigenous peoples. At the time of his appointment to the Senate, he, like all Status Indians, did not yet have the right to vote. He advocated for this right, which was won in 1960, when the right to vote was extended to all In- digenous Canadians. He also advocated for improved edu- cation, economic opportuni- ties, equality and greater self- determination for Canada’s Indigenous peoples. Gladstone served in the Senate until 1971, the year of his death. A bronze bust of Gladstone is displayed in the antechamber to the Senate in the Centre Block of Parlia- ment Hill. It shows him wear- ing a feathered headdress and acknowledges his signifi- cant contribution to the Sen- ate and to Canada. The distinctive pattern featured across the top and bottom of the Canada 150 note is based on the Assomp- tion sash, also known as the arrow sash. The long, finger- woven sash, most commonly worn tied around the waist, is part of a tradition integral to the history of Canada. Co- lourful sashes were worn by French-Canadian habitants and became a hallmark of the voyageurs and fur traders, who carried them westward at the end of the 18th century. Traders from the Hud- son’s Bay and North West companies regularly offered the sashes as gifts to First Na- tion peoples, with whom they became popular adornments. Since then, the sash has be- come an important cultural symbol of the Métis people and is the centrepiece of the “Order of the Sash” ceremo- ny, during which a sash is presented to an individual in appreciation of a significant contribution to the Métis na- tion. In the large window on the Canada 150 note is a me- tallic image based on Owl’s Bouquet, artwork by Keno- juak Ashevak (1927–2013). A member of the Order of Canada, Ashevak is per- haps the best-known Inuit artist. She lived and worked in Cape Dorset, Nunavut, the last territory to join Confed- eration in 1999. Her work, which helped introduce Inuit art to the world, was pro- duced in a wide variety of media, including drawings, prints, sculptures, textiles and even stained glass. Ashevak’s distinctive artwork has been featured on Canadian stamps and coins but never before on a bank note. Ashevak’s work was cho- sen for the Canada 150 note for its great aesthetic and se- curity value—the owl lends itself perfectly as a metallic feature. Ensuring that bank notes reflect Canada and our diverse society, culture and achievements is integral to the Bank’s formalized prin- ciples for bank note design. These principles now serve as the foundation upon which vi- sual content (theme, subject matter and images) is devel- oped. Visit www.bankofcanada. ca/banknote150 to learn more about the design and security features of the Canada 150 note. Follow the Bank on Twit- ter (@bankofcanada) for the latest news about this special note marking the 150th anni- PNT Foreign Exchange $1.00 Cdn = P41.14 Php $1.00 US = P 50.84 €1.00 EUR = P 59.92 ₤1.00 GBP = P 68.38 D1.00 BHD= P 134.79 R1.00 SAR = P 13.56 ¥1.00 JPY= P 0.45 versary of Confederation. SEC clears PAL’s equity restructuring  Philippine Airlines (PAL) has secured the approval of the Securities and Exchange Commission (SEC) to de- crease its capital stock, a move that would allow the flag carrier to attract new inves- tors. In a disclosure to the Philippine Stock Exchange (PSE) yesterday, PAL said the SEC approved the application to decrease the authorized capital stock from P20 billion to P13 billion through a cut in par value per share from P0.20 to P0.13. It said the SEC also gave the green light to the applica- tion to increase par value per share from P0.13 to P1, with- out increasing the authorized capital stock and thereby de- creasing the number of shares authorized to 13 billion shares from 100 billion shares.  PAL said earlier the reduc- tion of the authorized capital stock is part of the company’s quasi-reorganization. It said the move, once implemented, would eliminate the carrier’s defici