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Canada well positioned to become Islamic banking hub, according to report

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TORONTO — Islamic banking is being touted as the next big thing for Canada’s financial services sector, but experts say it’s up to the new federal government to demonstrate that it welcomes Shariah-compliant investments. “It’s absolutely fundamental that the Canadian government signal that, in fact, it is open to Islamic …

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Oilfield services companies face a 2016 where there’s little left to cut

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While some of his peers are shuttering their business or moving their rigs out of Canada to friendlier jurisdictions, Rene Amirault is staying put. Deficit, belt-tightening and new taxes: Like Alberta, Saudi Arabia is finally feeling oil crash pain Claudia Cattaneo: Too bad the world’s top oil exporter isn’t saving …

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Brace for another year of slow growth and loonie below 70 cents, Canada’s top forecasters warn

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TORONTO — Canada is headed for a rocky year as low oil prices continue to drag on economic performance, the chief economists of some of Canada’s biggest banks said Tuesday. Bank of Montreal chief economist Douglas Porter told a morning gathering of leading economists that it’s going to be a …

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WestJet Airlines Ltd faces challenging 2016 thanks to high exposure to weak Alberta

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The bloom came off the rose for Canadian airline stocks in 2015 despite plunging fuel costs, and 2016 could prove to be even more challenging as capacity additions continue to eclipse economic growth. The quotable Gregg Saretsky: WestJet CEO on Air Canada competition, unionization and more On Air Canada’s decision …

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Chipotle Mexican Grill Inc sales plunge as foodborne illness outbreak brings federal subpoena

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Chipotle Mexican Grill Inc., struggling to rebound from multiple outbreaks of foodborne illness, reported a bigger plunge in fourth-quarter sales than the restaurant chain expected and said it got served with a subpoena in a federal criminal investigation. How Chipotle is changing its cooking methods after a devastating E. coli outbreak …

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Freshii facing lawsuit from Vancouver-area franchisees over exclusivity claims

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TORONTO • Healthy fast food purveyor Freshii Inc. is being sued by franchise holders for the Vancouver area, who allege the food chain allegedly reneged on a planned master franchise agreement with the group. Three Fresh Guys Inc., which operates five Freshii restaurants in greater Vancouver, issued a statement of …

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Saudi Arabia considers bringing world’s biggest oil company Aramco to market: report

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CALGARY  • The Kingdom of Saudi Arabia is reportedly considering selling shares in its crown jewel: its state-owned oil-producing company Saudi Aramco. The kingdom’s deputy crown prince Muhammad bin Salman said in an interview with The Economist published Thursday that a sale of shares in Saudi Aramco is “something that is …

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Hyundai unveils Ioniq, its first hybrid-dedicated car to take on Toyota’s Prius

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SEOUL — South Korea’s Hyundai Motor on Thursday unveiled its first dedicated gasoline-electric vehicle, becoming one of a handful of automakers to challenge Toyota Motor’s Prius as low oil prices weigh on demand for fuel-efficient vehicles. Hyundai Motor Senior Vice President Lee Ki-sang said automakers had no choice but to …

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Deficit concerns heighten as economy teeters on the edge of another downfall

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OTTAWA — It could be time to end the debate over the benefits of using monetary policy versus government fiscal muscle to stop the economy from going over the edge. How the Liberal 'revenue neutral' tax plan could cost billions and push top talent south The biggest hit will be …

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‘Currency instability’ now a serious concern for Canada

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TORONTO • Canada’s economy is being threatened by “currency instability” as the loonie’s rapid decline against the U.S. dollar is hurting business and consumer confidence, economists warn. What living with a low dollar means to ordinary Canadians Jack Mintz: Canadians now need to make $100,000 a year to make the …

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