President Bouteflika Returns Home in Algeria amid Protests

Rabat – A plane carrying President Abdelaziz Bouteflika landed in Algeria yesterday. The 2019 election candidate had been in Geneva for medical care.Bouteflika’s plane landed in Algeria in the midst of weeks of protests, involving both adults and minors, who have been condemning Bouteflika’s decision to run for a fifth mandate for more than two weeks now.March 8 marked the beginning of the third week of protests with hundreds of thousands of Algerians taking to the streets calling for Bouteflika to remove himself as a candidate in the election. Under pressure from protesters, the government ordered the shutdown of universities across the country ahead of a scheduled holiday, according to Al Jazeera.Read Also: Dozens Injured in Algeria’s Anti-Bouteflika ProtestsAlgeria’s Ministry of Education did not explain the decision, announcing that the spring holiday would start 10 days earlier than before.Throughout the weeks of protests, which erupted on February 22, students have been on the street to lead peaceful demonstrations.In addition to the protests in Algeria, thousands of people marched in a demonstration in Paris and in other French cities on Sunday against Bouteflika’s campaign.Rachid Nekkaz, a well-known businessman opposing Bouteflika, attended the Paris protest.On Friday, Swiss police arrested Nekkaz when he attempted to check on Bouteflika’s health situation at the Geneva University Hospital. A police spokesperson, Joanna Matta, said that the hospital filed a complaint against Nekkaz for trespassing.In an interview with France 24 yesterday, Nekkaz said that every Algerian has the right to know the president’s health status, and the government should not keep it a secret.Other people also protested in front of the Geneva University Hospital.Speaking at the gathering, Nekkaz said there are “40 million Algerians who want to know where the president is.”The Algerian-French businessman had attempted to submit his candidacy for presidency. Nekkaz complained that the Constitutional Council refused his candidacy because he holds French citizenship. In response, the businessman renounced his French citizenship and had his cousin of the same name submit his candidacy. read more

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BRP anticipates another strong year after posting record results despite weather

MONTREAL – Recreation vehicle manufacturer BRP Inc. (TSX:DOO) is forecasting another good year after generating record adjusted profits in fiscal 2016 despite a mild winter, a weak economy in Western Canada and a strong U.S. dollar.The maker of Ski-Doo personal watercraft, Ski-Doo and Lynx snowmobiles and the Can-Am line of on-road vehicles, earned $200.8 million in normalized profits last year as revenues rose 8.6 per cent to $3.8 billion.Including one-time charges, net income decreased to $51.6 million from $70.1 million.The Quebec-based company said it expects revenues with grow between four and eight per cent in fiscal 2017, helped by the launch of new products, particularly side-by-side on-road vehicles.“We feel we are in a good position to face the uncertain economic environment,” CEO Jose Boisjoli said Friday during a conference call.While Western Europe, Scandinavia and Asia Pacific remain strong, Western Canada, Latin America and Russia remain a challenge and the U.S. is very competitive, he told analysts.Retail sales in Canada decreased by four per cent to $700 million last year as the industry was hurt by a weak economy in Western Canada.BRP said Ski-Doo gained market share even though retail sales for snow machines were down as a result of a mild winter in North America. Industry sales decreased by up to about nine per cent while sales in Western Canada were off by about 25 per cent.Boisjoli said the company grew its Can-Am brand by entering the side-by-side market with its Defender model, and plans to introduce a new offering every six months for the next four years.The company capped the year by posting a $28.7-million net loss in the fourth quarter, compared with $8.5 million profit a year earlier.The rising value of the American dollar ate away at the profit by triggering a $70.3-million, non-cash writedown of its outboard motor business.After adjusting for foreign exchange, restructuring and impairment costs and income taxes, BRP’s normalized profit was $86.8 million or 75 cents per share, down from $116.5 million or 98 cents per share in the fourth quarter of 2015.Revenue for the three months ended Jan. 31, 2016, grew 3.8 per cent to $1.11 billion, including a $98-million gain from the higher value of the U.S. dollar compared with the loonie. by Ross Marowits, The Canadian Press Posted Mar 18, 2016 5:49 am MDT Last Updated Mar 18, 2016 at 12:20 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email BRP anticipates another strong year after posting record results despite weather read more

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