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France to vote on ratifying contentious EU-Canada trade deal


French lawmakers in the National Assembly will vote on Wednesday on whether to ratify a controversial trade deal between the European Union and Canada. The EU-Canada Comprehensive Economic and Trade Agreement (CETA) was approved by the European Parliament two years ago, but it must also be ratified by each of the member states of the European Union to become permanent. ... Read More »

Cheaper energy pulls Canada’s inflation rate down to 2% in June

Oil pumps in operation at an oilfield near central Los Angeles on February 02, 2011.  World oil prices recently rallied close to $100 per barrel, as traders absorbed impressive fourth-quarter US economic growth and fretted over worsening political turmoil in Egypt. Most other commodity markets also won support this week from news that the US economic recovery picked up speed in the last three months of 2010, stoking hopes of strengthening demand for raw materials. The US economy grew at its fastest clip in five years in 2010, the Commerce Department reported, as the country bounced back from recession and fears of a double-dip recession ebbed.                                        AFP PHOTO/Mark RALSTON (Photo credit should read MARK RALSTON/AFP/Getty Images)

Canada’s consumer price index rose at a two per cent annual pace in June, as the price of just about everything except energy went up. Statistics Canada reported Wednesday that prices for food, shelter, clothing, home furnishings, services, insurance, new cars, to name a few, have risen in the past year. But the overall inflation rate fell to two per ... Read More »

Canadian officials flagged 900 food items from China with ‘problems’ over 2 years


Canadian inspectors intercepted nearly 900 food products from China over concerns about faulty labels, unmentioned allergens and harmful contaminants that included glass and metal between 2017 and early 2019, according to internal federal records. The document provides an inside look at imports from China that caught the attention of officials for appearing to fall short of Canadian standards — from ... Read More »

Coast Capital Savings and OnDeck Canada Announce Small Business Partnership


Agreement between leading financial services companies brings game-changing online lending option to Canadian small businesses MONTREAL and SURREY, British Columbia, July 11, 2019 /PRNewswire/ — Coast Capital Savings, Canada’s largest credit union by membership, and OnDeck Canada, a leading online lender to Canadian small businesses, today announced an innovative partnership aimed at accelerating online lending to Coast Capital small business ... Read More »

Forget Silicon Valley, Indians’ permanent residency in Canada rises 51%


With the US making citizenship tougher for immigrants, Canada seems to have opened its arms for Indians. In 2018, more than 39,500 Indian citizens got permanent residency in Canada under the express-entry system — a 51 per cent jump from the 2017 figure. The Times of India reported on Tuesday that Canada had admitted over 92,000 new permanent-entry residents under ... Read More »

Canadian Platform to Drive AI Supply Chain


In partnership with the Government of Canada’s programme, supply chain specialist Nulogy has launched a collaborative initiative to make Canada an “international leader in the field of artificial intelligence applied to supply chains”. The industry-led project involves a number of companies – like Nulogy – that have received investment to drive the vision of AI-powered logistics forward, and ... Read More »

Canada export agency lifts “closed” status on Saudi Arabia-related business


Canada’s export credit agency has lifted a “closed” status on Saudi Arabia-related activity after almost a year of frosty relations between the two countries, citing improved business conditions in the kingdom. The move by Export Development Canada (EDC) on Tuesday paves the way for the state-owned enterprise to resume support for exporters and investors in Saudi Arabia. The EDC changed ... Read More »

Alberta corporate tax cut makes it the lowest rate in Canada


Alberta business leaders are hailing the Canada Day launch of the UCP government’s Job Creation Tax Cut, which makes the province’s corporate sector the lowest taxed in the country. As of Monday, Alberta’s corporate tax rate dropped from 12 to 11 per cent, bringing it lower than the other two lowest provincial rates — Ontario at 11.5 per cent and ... Read More »

Ancient Egyptian mummy linens seized by U.S. officials at U.S.-Canada border


At the U.S.-Canada border, ancient Egyptian mummy linens were found in a mail truck coming from Canada that was seized by U.S. border officials, according to an official statement by American authorities. The U.S. Customs and Border Protection revealed on Wednesday, June 26 that the linens were spotted in a package of five jars containing ancient Egyptian artifacts. Furthermore, authorities ... Read More »

Canada’s economy shakes off doldrums, expands 0.3% in April


Canada’s gross domestic product expanded by 0.3 per cent in April, following a 0.5 per cent increase in March, Statistics Canada reported Friday. The economy was boosted by a 5.5 per cent rise in oil and gas extraction, as output increased following production cuts in Alberta that started in January 2019. Higher oil prices helped encourage the expansion. Wholesale trade ... Read More »

Optimism among Canadian small businesses rebounds after lull


Canada’s small businesses are more positive than they’ve been in almost a year, and they’re looking to spend. The Canadian Federation of Independent Business said Thursday its confidence index strengthened to 61.5 in June, the highest level since last August. The uptick follows a period of prolonged negativity that saw the measure fall to as low as 53.6 at the ... Read More »

Border agency still using licence plate reader linked to U.S. hack


Canada’s border agency is still using Perceptics’s licence plate reader equipment, even after the company fell victim to a recent malicious cyberattack in the U.S. Earlier this month, news surfaced that photos of travellers and licence plates collected for U.S. Customs and Border Protection had been compromised in a May privacy breach. The Canada Border Service Agency, which uses the ... Read More »

Cannabis company Canopy Growth Corporation releases fourth quarter results


Canopy Growth Corporation, the Ontario based cannabis company, has announced its financial results for the fourth quarter of FY19. In the company’s June 20 press release, Canopy Growth highlighted the achievement of annual net revenue growth of 191% to $226.3mn. In the fourth quarter, revenue grew by 13% versus the third quarter, which the company credited to value-added products, extraction ... Read More »

Canada’s Halo Labs acquires fellow cannabis company Bophelo Bioscience & Wellness of Lesotho


The Toronto, Canada based cannabis company Halo Labs has announced it intends to acquire Lesotho’s Bophelo Bioscience & Wellness. Lesotho is the first African country to grant medical marijuana licenses, and as such Halo Labs has identified the country as a potential export hub. In its 17 June press release, the company said that the acquisition would help it to ... Read More »

Canada’s oilpatch pays America $60 million a year to export crude


CALGARY — A little-known tariff is costing Canadian oil companies $60 million a year and though it predates Donald Trump’s presidency, it’s likely to persist even if the new North American free trade agreement comes into force. Oil might be the last export category that traders would expect to pay tariffs on — after all, Canadian oil supplies have been ... Read More »

Inflation in Canada spikes to 2.4% on higher prices for food


Canadians may be feeling a price pinch as inflation rose to 2.4 per cent in May from the same month one year ago, led by higher prices for food. That compares to a rise of two per cent in April, according to Statistics Canada’s consumer price index (CPI) released Wednesday. Year-over-year prices rose in all eight categories of the index, ... Read More »

China to suspend imports from Canadian pork company


China will halt imports from a Canadian company after food safety issues were detected in one batch of pork, the Xinhua state news agency reported Tuesday, a move likely to fuel speculation China is retaliating for the arrest in Canada of a Chinese tech executive. After the arrest of Huawei chief financial officer Meng Wanzhou in December at the request ... Read More »

Reinstating Customs in Marine City may be a challenge for Bluewater Ferry


Morgan Dalgety said his family doesn’t want to sell its ferry in Sombra, Ontario. But they’re also frustrated, he said, that reinstating operations with U.S. Customs and Border Protection across the St. Clair River in Marine City may be what’s preventing an offer from moving forward. The Bluewater Ferry has been closed since January 2018 after heavy ice flow collided ... Read More »

Modi’s re-election in India presents opportunities for Canadian politicians, companies: business councils


OTTAWA : Canada should increase its efforts to improve a wobbly bilateral relationship with India, say business leaders, as the world’s most populous country becomes an increasingly “inevitable” economic partner. Indian prime minister Narendra Modi was re-elected at the end of May with a sweeping majority, and although business ties have remained steady, the five-year term for his “pro-growth government” ... Read More »

Transat still negotiating takeover with Air Canada, as rival bidder says counteroffer is coming

air canada

A Quebec developer seeking to outbid Air Canada with a takeover proposal for Transat AT Inc. says he will hand a formal offer to the tour operator before Transat’s exclusive talks with Air Canada end on June 26. “We will file one, because they’e asking for one,” Group Mach Inc. chief executive Vincent Chiara told The Canadian Press. “We don’t ... Read More »