OTTAWA, March 6 (Reuters) – Canada’s trade deficit in
January more than doubled to a near-record C$2.45 billion ($1.94
billion), Statistics Canada said on Friday, amid a slump in oil
prices that has crimped the resource-dependent economy.
The deficit – considerably wider than the C$1 billion
shortfall expected by analysts – was the second highest after
the C$2.87 billion recorded in July 2012.
OTTAWA, Feb 19 (Reuters) – Canada is introducing substantial
new tax measures that will allow investors in new liquefied
natural gas facilities to recover their costs more quickly,
Prime Minister Stephen Harper said on Thursday.
Harper told a televised news conference in British Columbia
that the tax relief would encourage investment in the LNG
industry and boost employment.
OTTAWA, Feb 17 (Reuters) – Canada is imposing sanctions
against top Russian oil firm NK Rosneft OAO and the
head of conglomerate Rostec, among others, in response to the
actions of Russian-backed militants in Ukraine, Ottawa said on
In all, Canada – which said it was acting in coordination
with the European Union and the United States – imposed
sanctions against 37 Russian and Ukrainian individuals as well
as 17 Russian and Ukrainian entities.
OTTAWA/CALGARY (Reuters) – Canada confirmed its first case of mad cow disease since 2011 on Friday, but said the discovery should not hit a beef export sector worth C$2 billion ($1.6 billion) a year.
The news, however, helped boost U.S. cattle prices.
The Canadian Food Inspection Agency (CFIA) said no part of the animal, a beef cow from Alberta, had reached the human food or animal feed systems.
OTTAWA (Reuters) – Canada, a major exporter of beef, said on Friday it had found a case of mad cow disease in a beef cow in the province of Alberta, the first in the country since 2011.
A statement from the Canadian Food Inspection Agency (CFIA) said no part of the cow had reached the human food or animal feed systems and said exports should not be harmed. Mad cow is formally known as bovine spongiform encephalopathy (BSE), a progressive, fatal neurological disease.
WASHINGTON/OTTAWA, Feb 12 (Reuters) – The U.S.
Transportation Department has recommended crude oil trains be
reinforced and advanced braking systems installed to prevent
accidents from becoming fiery disasters, according to sources
familiar with the plan.
The proposal, which now faces a White House review,
envisions safety improvements that public advocates endorse but
oil and rail leaders have said would mean high costs for modest
OTTAWA, Feb 10 (Reuters) – The Canadian economy is still
operating below its potential and one sign of this is labor
market slack, a senior Bank of Canada official said on Tuesday,
calling the recent sharp drop in oil prices a “setback”.
In some of the first remarks by a Bank of Canada policymaker
since the central bank cut interest rates last month, Senior
Deputy Governor Carolyn Wilkins laid out the reasons for the
surprise move, reiterating that the bank thought it would take
too long to close the output gap if it did not act.
OTTAWA, Feb 9 (Reuters) – Canadian legislator Eve Adams left
the governing Conservatives to join the opposition Liberal Party
on Monday in a fresh blow to Prime Minister Stephen Harper ahead
of an election scheduled for this October.
Sitting alongside Liberal leader Justin Trudeau, Adams told
reporters: “The party no longer shares my values”. She also
blasted what she called Harper’s mean-spirited leadership.
OTTAWA, Feb 5 (Reuters) – Low oil prices helped Canada’s
trade deficit to sharply widen to C$649 million ($519 million)
in December, but in a more promising sign for the economy,
export volumes surged.
The deficit was, however, smaller than the C$1.20 billion
shortfall expected by analysts. Statistics Canada’s official
release on Thursday also cut November’s deficit to C$335 million
from an initial C$644 million, citing a number of revisions.
OTTAWA (Reuters) – Canadian Foreign Minister John Baird resigned on Tuesday in a surprise move that leaves the Conservative government without one of its most capable politicians as it heads into an October election in which it faces a tough fight against a revitalized Liberal Party.
Baird’s resignation came amid talk of a split with Prime Minister Stephen Harper’s office over Russia policy, but Baird, 45, said it was simply time to start a new chapter in his life, and he paid warm tribute to Harper.