The Bank of Industry (BOI) says it has disbursed N22.89 billion to 29 manufacturers. The money is part of the N75 billion manufacturing sector intervention fund. Its Managing Director, Olasupo Olusi, made this known on Monday at the first BOI interactive session with the Organised Private Sector in Abuja, which was monitored virtually. Mr Olusi … Read more
Chief minister Siddaramaiah’s statement that Karnataka will soon notify regulations requiring Kannada labelling on the cover of locally made products has pushed sections of the manufacturers into a spot of bother. Those in sectors such as pharma and auto parts and engaged in both domestic and export trade would face a lot of challenges, say … Read more
Dozens of Canadian business associations across the country have signed a letter urging the Liberal government to prevent Air Canada pilots from striking by sending the labour dispute to binding arbitration. The letter — which was signed by the Canadian Chamber of Commerce, the Retail Council of Canada, Food Producers of Canada and the Canadian Toy … Read more
It initially took Canada four months to get into the queue after deciding to join a plan by the United States to buy urgently needed National Advanced Surface-to-Air Missile Systems (NASAMS) for Ukraine. Defence Minister Bill Blair insists the lag did not contribute to the slow pace of acquiring the high-tech defensive capability, which is … Read more
Cost of Living5:07The hot, sweaty irony of it all Star Vickery never used to need an air conditioning unit to stay cool in her home in Halifax. But summers are getting warmer, she says, and since she now works from home, it’s become a must. But cooling your home can be costly. The unit cost … Read more
Rising inventory across sales channels and lack of competitively priced new models that can attract buyers are beginning to weigh on the wholesale volumes (dispatches to dealers) of the passenger car industry. For the first time in 30 months, the volume of the passenger car industry is expected to decline 2.5-3% on a year-on-year basis … Read more
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
The potential of tariffs on Chinese electric vehicle imports is being welcomed by the Canadian head of General Motors as major producer BYD looks to enter the market. “We’re encouraged by the government’s examination of these issues,” said Kristian Aquilina, president of GM Canada. “Because on the basis of strong competition, a fair playing field, … Read more
Canada’s grocery code of conduct cleared a major hurdle this week with news that all major grocery retailers will sign on. The code has been years in the making, coming after a period of tense relations between retailers and suppliers. A major point of contention has been fees that retailers have charged to keep suppliers’ products in … Read more
Aircraft landing gear maker Héroux-Devtek Inc. says it has signed a deal to be acquired by U.S. private equity firm Platinum Equity Advisors LLC in a deal valued at $1.35 billion. Under the agreement, Platinum Equity will pay $32.50 in cash per share for the company. Based in Longueuil, Que., Héroux-Devtek is one of the … Read more
