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Tag Archives: Canada

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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China Investment Corp retreats from Canada after mining, energy investments sour

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After a string of bad investments, China Investment Corp. (CIC) has shut down its Toronto office and is opening a new one in New York, part of a quiet retreat from Canadian natural resources by China’s state-controlled entities. Fortune Lost: The short, brutal and costly ride of China Investment Corp. …

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Aviva Canada develops first insurance policy for ride-sharing services like Uber

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TORONTO • Aviva Canada Inc. has become the first auto insurer in Canada to develop a policy specifically for ride-sharing services, filling a gap in the market that has left many Uber drivers without proper coverage. The Toronto-based company announced Wednesday that it will begin providing auto insurance to drivers …

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Air Canada asks Supreme Court to reject maintenance ruling in Quebec lawsuit fight

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MONTREAL — Air Canada has asked the Supreme Court to intervene to overturn a court ruling that requires the carrier to keep maintenance operations in the country. The Montreal-based airline said Tuesday it is seeking leave to appeal a Quebec Court of Appeal decision in November. That ruling upheld a …

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Canada’s incumbent airlines have little to fear from new startup NewLeaf Travel

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Canada’s incumbent airlines have little to fear from a new, ultra-cheap competitor that will begin flying next month, according to an analysis by National Bank. NewLeaf Travel Company Inc. on Wednesday opened its website for bookings, with its first flight planned for February 12. To keep prices low, the airline’s …

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Canada’s Finance Minister admits economy in worse shape than Ottawa thought

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HALIFAX — The federal finance minister says the Canadian economy is suffering from slower growth than originally projected by the former Conservative government. Bill Morneau told several hundred people attending a Halifax Chamber of Commerce luncheon that his department’s projections on growth since the 2015 budget have fallen due to …

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Sugar high: Why Canada’s marijuana growers are in a race to make their pot taste delicious

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SMITHS FALLS, ONT.  —  For more than four decades, Smiths Falls was known as the “Chocolate Capital of Ontario” because of its iconic Hershey factory. But Hershey bolted in 2009, and a few years later, the plant was sold to a very different sort of company: Tweed Marjuana Inc. In …

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Corporate Canada turns sour as hiring intentions, investment drop to lowest levels since 2009 on oil shock

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OTTAWA — The hiring and investment intentions of Canadian companies have dropped to their lowest levels since 2009 as the fallout from sliding commodity prices seeps beyond resource-rich regions, a new survey has found. Companies are anticipating a darker road in 2016 with many facing “significant challenges” tied to the …

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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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With economy at risk, Bank of Canada’s Stephen Poloz remains on dovish path

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OTTAWA — A year ago this month, financial markets were shaken, and economists caught flat footed, by a shock cut in the Bank of Canada’s key interest rate — the first adjustment in any direction in more than four years. Calls growing for a Bank of Canada interest rate cut …

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