OTTAWA (Reuters) – In September, two months after China’s state-owned CNOOC Ltd made an unexpected $15.1 billion bid for Canadian energy company Nexen Inc, Canada’s spy agency told ministers that takeovers by Chinese companies may threaten national security.
The rare warning from the Canadian Security Intelligence Service (CSIS), which was disclosed to Reuters by intelligence sources, did not stop the takeover. That was approved by Canadian authorities earlier this month.
OTTAWA, Dec 23 (Reuters) – In September, two months after
China’s state-owned CNOOC Ltd made an unexpected $15.1
billion bid for Canadian energy company Nexen Inc,
Canada’s spy agency told ministers that takeovers by Chinese
companies may threaten national security.
The rare warning from the Canadian Security Intelligence
Service (CSIS), which was disclosed to Reuters by intelligence
sources, did not stop the takeover. That was approved by
Canadian authorities earlier this month.
OTTAWA, Dec 21 (Reuters) – Canada’s annual inflation rate
fell to a three-year low of 0.8 percent in November, raising
questions about the Bank of Canada’s stubborn insistence that
the next move in interest rates will be an increase.
The annual rate, reported by Statistics Canada on Friday, is
far below the Bank of Canada’s 2.0 percent target. Analysts had
expected annual inflation of 1.1 percent, down from 1.2 percent
OTTAWA, Dec 20 (Reuters) – Canada retail sales in October
jumped by a stronger-than-expected 0.7 percent from September to
hit a record, but analysts said the figures were less impressive
than they seemed and would not do much to boost recent sluggish
Statistics Canada said on Thursday that retail sales in
October reached C$39.45 billion ($39.85 billion), the third
consecutive all-time high. Sales have now grown for four
MEECH LAKE, Quebec, Dec 17 (Reuters) – Canada’s finance
minister agreed on Monday to set economic benchmarks for
potentially expanding the country’s public pension system in the
future, but said the economy was too weak now to demand bigger
contributions from businesses and workers.
Federal Finance Minister Jim Flaherty met with his
provincial counterparts late Sunday and Monday to discuss issues
of joint responsibility.
OTTAWA (Reuters) – Canada will crack down on what it says is a wave of fake refugee claims from European Union nationals and deny the right of appeal to those deemed to be bogus applicants, Immigration Minister Jason Kenney said on Friday.
The right-of-centre Conservative government says that while it wants Canada to remain one of the world’s top destinations for refugees, it is being swamped by people who pretend they are escaping persecution but in reality want to sign up for welfare payments.
OTTAWA, Dec 14 (Reuters) – Canadian manufacturing sales
unexpectedly plunged by 1.4 percent in October from September in
the latest sign the economy is struggling to cope with market
problems abroad and due to the effect of a strong Canadian
Statistics Canada said on Friday that the drop – the biggest
in nine months – was due to weakness in major sectors such as
motor vehicles and primary metals.
OTTAWA, Dec 12 (Reuters) – Canada scrapped a controversial
plan to buy F-35 jets from Lockheed Martin Corp on
Wednesday, saying that instead it would evaluate all available
options for acquiring new jet fighters.
The Conservative government – stressing it could still buy
the F-35 if it turns out to be the best option – said it would
set up an independent panel to look at replacements for the
country’s aging fleet of CF-18 fighters, which are due to go out
of service by 2020.
OTTAWA, Dec 11 (Reuters) – Canada’s trade deficit came in
much smaller than forecast in October as imports fell to a
15-month low, a sign the economy is still struggling to cope
with weak foreign markets and other challenges.
Statistics Canada said on Tuesday that the deficit fell to
C$169 million ($171 million) from a revised C$1.01 billion in
September. Market operators had expected a C$1.20 billion
OTTAWA/HONG KONG (Reuters) – Canada approved China’s biggest ever foreign takeover, the $15.1 billion bid by CNOOC Ltd for energy company Nexen Inc, after the Chinese giant agreed to various conditions, but drew a line in the sand against future purchases by state-owned enterprises.
In a fierce defense of a tough, new foreign investment framework, Prime Minister Stephen Harper said Canada would not deliver control of the country’s oil sands – the world’s third-largest proven reserves of crude – to a foreign government.