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May 5, 2015

Oil slump helps push Canada trade deficit to record high

OTTAWA, May 5 (Reuters) – Canada’s trade deficit jumped to a
record high C$3.02 billion ($2.50 billion) in March from
February as imports surged and weak crude prices helped curb
exports, Statistics Canada data showed on Tuesday.

Traders had forecast a deficit of C$850 million. Statscan
revised February’s deficit sharply higher to C$2.22 billion from
an initial C$984 million, citing a sharp downward revision in
energy exports.

May 1, 2015

Canada set to scale back big plan for navy ships, go over budget

OTTAWA, May 1 (Reuters) – Canadian officials said on Friday
a C$26.2 billion ($21.5 billion) program to build 15 naval ships
could end up below target and over budget, the latest challenge
to Canada’s troubled military procurement process.

In 2010, the Conservative government announced the program
to replace three destroyers and 12 frigates with 15 modern

Apr 30, 2015

Obama unlikely to unveil Keystone move during Canada election: sources

OTTAWA (Reuters) – U.S. President Barack Obama is unlikely to deliver his verdict on TransCanada Corp’s Keystone XL pipeline between mid-June and mid-October for fear of being seen as interfering in Canada’s upcoming election, said three Ottawa-based sources familiar with the matter.

Two of the sources said Obama – whose relations with Conservative Prime Minister Stephen Harper are generally cool – realized there was a risk that a decision before the election could be seen as a bid to influence the Oct. 19 vote.

Apr 23, 2015

Canada will need new regulations to meet climate targets -PM

OTTAWA, April 23 (Reuters) – Canada, heavily criticized over
its environmental record, will need to introduce new regulations
to meet updated international climate change targets, Prime
Minister Stephen Harper said on Thursday.

Harper, who has already ruled out a federal carbon tax and
Canada-wide measures against the booming oil and gas sector, did
not give details.

Apr 21, 2015

Canada budget offers little new cash for extra security needs

OTTAWA (Reuters) – Canada’s Conservative government pledged little new immediate cash in its budget on Tuesday for security agencies already hard-pressed to cope with an increased focus on thwarting domestic attacks.

The government, seeking re-election this year, delivered a budget that promises a slim surplus despite the oil price crash, while offering goodies to seniors and reducing taxes for small businesses.

Apr 20, 2015

Spy agency sees sharp increase in Canadians joining Islamic State

OTTAWA (Reuters) – The number of Canadians leaving to join militant groups in Iraq and Syria such as Islamic State has increased 50 percent in the past few months, a senior security official said on Monday.

“The terrorist threat to Canada’s national security interests has never been as direct or immediate,” Michel Coulombe, head of the Canadian Security Intelligence Service spy agency, told a Senate committee.

Apr 15, 2015

Canada, India unveil uranium supply deal, bury nuclear discord

OTTAWA, April 15 (Reuters) – The Canadian government on
Wednesday unveiled a C$350 million ($280 million) deal to supply
uranium fuel to India, formally ending a lengthy dispute that
began after New Delhi used Canadian technology to develop a
nuclear bomb.

Canadian producer Cameco Corp will supply 7.1
million pounds (3.22 million kilos) of uranium concentrate to
India over the next five years. The deal is Cameco’s first with
India, which the firm called the second fastest growing market
for nuclear fuel. Shares in the uranium miner rose 5.8 percent
in Toronto.

Apr 14, 2015

Canada to send 200 military trainers to Ukraine, says risk low

OTTAWA (Reuters) – Canada, following in the steps of the United States and Britain, will send around 200 troops to Ukraine to help train soldiers who are battling Russian-backed separatists, Ottawa said on Tuesday.

The Conservative government stressed the troops would be based far from clashes that have taken place in the east of the country, and said Canada would not provide weapons to Ukraine unless other major allies also agreed to do so.

Apr 6, 2015

Ex-ally of Canada PM set for high-profile bribery trial

OTTAWA (Reuters) – A former ally of Canadian Prime Minister Stephen Harper goes on trial for fraud and bribery on Tuesday in a case that could damage the governing Conservatives’ chances of winning October’s general election.

Mike Duffy, a former television reporter who became a popular fund-raiser for the Conservatives, faces 31 criminal charges related to activities after Harper appointed him to the Senate, the upper chamber of Parliament.

Apr 2, 2015

Canada trade deficit shrinks unexpectedly as oil price steadies

OTTAWA, April 2 (Reuters) – Canada’s trade deficit
unexpectedly shrank to C$984 million ($781 million) in February
from C$1.48 billion in January as energy exporters benefited
from stabilizing oil prices, Statistics Canada data showed on

The deficit was much smaller than the C$2.00 billion
shortfall analysts had expected. Statscan also revised January’s
deficit down sharply from an initial C$2.45 billion, citing
updated figures for energy exports.

    • About David

      "I have been the National Political Correspondent in Canada for Reuters since 1999, focussing on politics, defence (in particular Canada's role in the Afghan War) and the environment. I won the award for Reuters Treasury scoop in 2009 for my work at the G20 summit. From 1995 to 1999 I worked in London, mainly covering foreign affairs, and from 1989 to 1995 I was stationed in Moscow where I covered the collapse of the Soviet Union and the many conflicts this helped trigger."
      Joined Reuters:
      English, French, Russian
      Treasury scoop of the year 2009
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