Economics Canada’s Trudeau: NAFTA dispute resolution system is essential Canadian Prime Minister Justin Trudeau said on Tuesday that a fair dispute resolution system is essential for any trade pact that the country signs, including a renegotiated North American Free Trade Agreement (NAFTA). The United States earlier this month released its goals for talks on NAFTA, which include a desire to eliminate the Chapter 19 dispute settlement mechanism that has … Read More
Economics Canada wholesale trade rises more than expected in May on autos Canada wholesale trade rose more than expected in May, driven by increased sales of motor vehicles and agricultural supplies, data from Statistics Canada showed on Monday. The 0.9 percent increase from the month before topped economists’ forecasts for a gain of 0.5 percent, while April was revised down slightly to show an increase of 0.8 percent from the initially reported … Read More
National State of emergency in British Columbia extended as wildfires rage British Columbia’s government took the unprecedented step on Wednesday of extending a state of emergency by two weeks as it battled 140 wildfires that have forced about 45,000 people from their homes. The province’s Premier John Horgan said evacuated households would receive C$600 ($476.53) from the government to cover basic needs for every 14 days they cannot return home. The … Read More
Economics ANALYSIS | Ontario regaining status as economic engine for Canada Ontario’s economy is surging after years of lagging behind the oil-producing provinces. Don’t believe it? There’s plenty of evidence. Canada’s big banks are forecasting that Ontario will lead the country in economic growth this year or be within a hair of the top of the pack. Unemployment sits at its lowest level in 16 years. And that economic success is being felt across … Read More
Economics In Aramco IPO pitch, Canada plays up its natural resources expertise TORONTO (Reuters) – The Toronto Stock Exchange’s efforts to win a slice of the massive Saudi Aramco public listing plays up the country’s deep experience in natural resources as part of a broader offer to help the kingdom with its shift away from oil dependence. In pitch documents obtained by Reuters, the TSX talks up “a customized regulatory environment for … Read More
Economics Bank of Canada holds rates, sees no cooling in housing yet OTTAWA (Reuters) – The Bank of Canada held interest rates steady on Wednesday, as expected, saying that while economic growth was likely to moderate in the second quarter, government measures to rein in the housing market have not yet had a substantial effect. In a statement seen as less dovish than some had expected, the central bank said excess capacity … Read More
Economics Canada home prices not coming down yet thanks to low rates: Reuters poll (Reuters) – Efforts to rein in Toronto’s hot housing market and recent problems at mortgage lender Home Capital are unlikely to hurt Canada’s national real estate market as low borrowing costs continue to stoke demand, according to a Reuters poll of analysts. Matching British Columbia’s move last year for Vancouver, Ontario’s provincial government introduced a 15 percent tax on property … Read More
Economics Canada posts C$21.85 billion deficit in 2016-17 OTTAWA May 26 (Reuters) – Canada posted a preliminary budgetary deficit of C$21.85 billion ($16.3 billion) for the 2016-17 fiscal year, largely in line with what the government had projected, the Finance Department said on Friday. The deficit for the fiscal year that ended in March was significantly wider than the C$1.96 billion deficit the government ran in the previous … Read More
