Extreme weather events like fires, floods, heat waves and droughts pose an increasing risk to Canada’s food supply chain, putting pressure on prices all the way to the grocery store shelf, say experts. “Anytime you have major weather-related events, it tends to increase costs,” said Frank Scali, vice-president of industry affairs at Food, Health & … Read more
A subsidiary of a Chinese state-owned mining firm says Canada is wrongly considering a national security review in its agreement to purchase a gold and copper mine in Peru. In May, Vancouver-based Pan American Silver Corp. announced an agreement worth almost $300 million US to sell its stake in Peru’s La Arena gold mine to … Read more
Canada’s banking regulator says real estate secured lending and mortgages are among the top risks the country’s financial system is facing, as higher interest rates pressure borrowers. In its annual risk outlook, the Office of the Superintendent of Financial Institutions )OSFI) said as homeowners renew their mortgages, they could potentially face a payment shock due to … Read more
The Canadian military could have modern satellite coverage in the Arctic a decade earlier than envisioned if the federal government is willing to follow the example of other countries and embrace commercial options in space, a House of Commons committee heard Monday. Mike Greenley, chief executive officer of MDA Canada, told committee members Canada has fallen behind … Read more
The Bank of Canada is getting closer to cutting interest rates as inflation shows signs of coming down and staying down, the central bank’s governor, Tiff Macklem, told MPs Thursday. “We do see renewed downward momentum in underlying inflation. The message to Canadians is, we are getting closer. We are seeing what we need to … Read more
China on Friday launched a lunar probe to land on the far side of the moon and return with samples that could provide insights into differences between the less-explored region and the better-known near side. It is the latest advance in China’s increasingly sophisticated space exploration program, which is now competing with the U.S., still … Read more
U.S. Special Envoy for Hostage Affairs Roger Carstens says he agrees with the Kremlin that silence is essential when it comes to public discussions about prisoner exchanges. “This might be the one time that I’ll agree with the Russians,” Carstens said during an interview on Rosemary Barton Live broadcast on Sunday. He explained that fact checking every … Read more
Canada’s upstream oil and gas industry and drilling services sector has a “very favourable” outlook for 2024, according to Enserva’s State of the Industry report released on Thursday. Key highlights of the report show that oil prices are expected to remain strong, demand will be robust, export capacity will increase, and investment and drilling activity are set … Read more
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