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
The House of Commons special committee studying Canada-China relations is urging the federal government to introduce new measures to prevent Canadian pension funds from investing in Chinese companies implicated in human rights abuses, corruption or threats to national security. The committee’s report, tabled in the House of Commons this week, calls on Ottawa to, in partnership with … Read more
Automakers are set to get a jolt Tuesday when Ottawa unveils its promised electric vehicle regulations. CBC News has learned that Ottawa will release final regulations it says will ensure that all new passenger cars sold in Canada by 2035 are zero-emission vehicles, a senior government source said. The source — who was not authorized to speak publicly — … Read more
The pace of housing starts in Canada fell by 22 per cent in November, the Canada Mortgage and Housing Corp. said Friday. The agency says the monthly seasonally adjusted annual rate of housing starts in November came in at 212,624 units, down from 272,264 in October. A housing start is defined as the beginning of construction work … Read more
Bank of Canada governor Tiff Macklem says he expects 2024 to be a transition year as higher interest rates slow down the economy, making way for lower inflation. In his final speech of the year, the governor laid out his expectations for a softer economy next year and offered criteria for the central bank to start discussing rate … Read more
For a third straight time, the U.S. Federal Reserve kept its key interest rate unchanged Wednesday, as it signalled its expectations to make a series of quarter-point cuts to the benchmark interest rate next year. Those envisioned rate cuts — which wouldn’t likely begin until the second half of 2024 — suggest officials think high borrowing rates … Read more
Health Minister Mark Holland signalled Tuesday the government is unlikely to meet the end-of-the-year deadline imposed by the NDP for passing pharmacare legislation — a condition of the supply-and-confidence agreement that was struck to keep the Liberals in power until 2025. Holland said talks are ongoing with NDP MP Don Davies, the party’s health critic, … Read more
In a tiny village along the Peruvian Amazon, women line up on a warm, rainy August morning to protect themselves against cervical cancer, a disease that claims the lives of six women in Peru every day. News had spread throughout nearby villages of a pilot screening project for human papillomavirus (HPV), a common virus responsible … Read more
LONDON — They may be bitter Tory rivals, but Rishi Sunak rose above it all Monday as he resisted several chances to take potshots at his predecessor Boris Johnson. Sunak, now the U.K.’s prime minister, spent Monday being grilled by the independent inquiry about his time as Johnson’s top finance minister during the coronavirus pandemic. … Read more
The recent surge in newcomers is adding to inflation through housing demand, a senior Bank of Canada official said Thursday, warning rental and home prices could continue to rise without a boost to housing supply. In a speech in Windsor, Ont., deputy governor Toni Gravelle acknowledged many of the benefits coming from this rise in immigration, … Read more
