Canada is investing in future with the collaboration of different global manufacturers. One of the example is the announcement of a 13 billion dollars federal and 500 million provincial endorsements. The plant would create employment of 3,000 direct and 30,000 indirect jobs. Once built by 2027, the plant would have a capacity to manufacture one million batteries/year enough for local …

The Bank of Canada, in collaboration with the Canadian Association of Chiefs of Police (CACP), established an award of excellence for bank note counterfeiting deterrence in 2004. This award recognizes the efforts of individuals in the fields of counterfeit enforcement, crime prevention, and education. The award recognizes excellence in the delivery of various programs and activities aimed at counterfeiting deterrence, …

Bank of Canada conducts many surveys to keep checking the business economic pulse. Results from the first-quarter 2023 Business Outlook Survey and the Business Leaders’ Pulse surveys from January through March 2023 show a subdued sales outlook and plans for modest growth in capital expenditures. The labour market remains tight, but pressures have eased from high levels.

California based Silicon Valley Bank collapsed on Friday, March 10, 2023, thanks to risen interest rates. Silicon Valley Bank was founded by former Bank of America managers Bill Biggerstaff, Robert Medearis, and Roger Smith, who came up with the idea over a game of poker. It launched on October 17, 1983, as a wholly-owned subsidiary of Silicon Valley Bancshares (now SVB Financial Group) with 100 …

A sudden jump in Tesla stock’s price made Elon Must enjoy the top cadre. His net worth touched 187 billion dollars. Though Tesla stocks are still lower than what they were a year ago but slowly it traveled upward and made the stockholders happier. In the meantime, adapting Milton Friedman’s Stockholders theory, Elon fired another 200 Twitter employees to cut …

First time in a century old history, Bank of Canada have faced losses of about half a billion Dollars. The institution used to give about a billion dollars per year to the government but 2022 had been the worst for them. However, government has signaled that they would do some amendments in the Act that would cover the losses the …

Bank of Canada has reconfirmed that there would be 3 more meetings this year to set the interest rates. The meetings would take place on September 07, October 26 and December 07. There would be no meeting in November. Bank of Canada has signaled that there would be more rate hikes till the inflation rate becomes around 3.5%.

Bank of Canada Governor reaffirmed that there is a 6% inflation in this quarter and that he is taking precautionary actions to slow it down. He also said that the inflation hits everyone specially those who has low income. Every house hold however is paying more that they had been paying before the pandemic hit. The hike in the interest …

After spending C$ 95,000,000,000 Canada Wage Subsidy (CEWS) and Canada Rent Subsidy (CERS) comes to end. Deputy Prime Minister and Finance Minister Chrystia Freeland says. Government will still help some businesses and workers hit by COVID-19 and this program would cost C$7,000,000,000. “Today, our support needs to be more narrow, more targeted and less expensive and we need to look …

Budget 2021: 20 ways it could affect your wallet 1. Extension of Canada Recovery Benefit and Canada Recovery Caregiving Benefit Earlier this year, the government announced that both the Canada Recovery Benefit (CRB) and Canada Recovery Caregiving Benefit (CRCB) would be extended by 12 weeks to a maximum of 38 weeks. Budget 2021 proposes adding up to 12 more to …