OTTAWA, Nov 6 (Reuters) – A top legislator in Canada’s
ruling Conservative Party on Tuesday made public his fierce
opposition to a bid by China’s CNOOC Ltd for Nexen Inc
, underlining the political challenges facing Ottawa as
it studies the takeover.
The comments from James Bezan, chair of the House of Commons
national defense committee, were among the harshest attacks any
Conservative has launched on the landmark $15.1 billion bid.
OTTAWA, Nov 2 (Reuters) – Canadian job growth stalled in
October after two months of strong hiring, Statistics Canada
data showed on Friday, confirming expectations employment gains
would ease to reflect sluggish economic growth.
The economy added 1,800 jobs in the month, even lower than
the small increase of 5,000 jobs forecast in a Reuters poll,
while the unemployment rate held steady at 7.4 percent.
OTTAWA (Reuters) – Canada and the European Union still have plenty of work to do on a proposed free trade treaty that is supposed to be finished by the end of the year, officials from both sides said on Thursday.
Canada, keen to diversify its exports away from the United States, says a deal with the European Union would increase two-way trade by 20 percent. The talks started in 2009.
OTTAWA, Oct 30 (Reuters) – Canada’s export credit agency cut
its 2012 forecast for growth in exports of goods and services on
Tuesday in the wake of the European crisis, but it said
exporters will see benefits next year from a recovery in the
U.S. private sector.
Export Development Canada said 2012 exports would increase
by 4.6 percent from 2011, down from the 7.1 percent it forecast
in April. The agency also cut its 2013 export growth forecast to
6.3 percent from an earlier 7.3 percent.
OTTAWA/CALGARY (Reuters) – Malaysian state-owned oil company Petronas was so confident last Friday that its purchase of Progress Energy Resources Corp would be approved by Canada that company officials had drafted a press release to announce the news.
At midnight Kuala Lumpur time, they were flabbergasted to learn that Ottawa wanted more time to make a decision.
OTTAWA/CALGARY, Oct 26 (Reuters) – Malaysian state-owned oil
company Petronas was so confident last Friday that its
purchase of Progress Energy Resources Corp would be
approved by Canada that company officials had drafted a press
release to announce the news.
At midnight Kuala Lumpur time, they were flabbergasted to
learn that Ottawa wanted more time to make a decision.
OTTAWA/CALGARY, Oct 24 (Reuters) – Canadian Finance Minister
Jim Flaherty said on Wednesday he knew of no direct talks
between Ottawa and Beijing about making approval of CNOOC Ltd’s
bid for Nexen Inc conditional on the approval
of Canadian deals in China.
Legislators in the ruling Conservative Party, suspicious of
allowing Chinese state-owned firms to buy Canadian energy
assets, say Canada should demand concessions in return for
approving the proposed $15.1 billion purchase.
OTTAWA (Reuters) – Canada signaled a tough line on control of its natural resources with its surprise rejection of a Malaysian bid for gas company Progress Energy Resources Corp., putting concerns about state-owned firms above fears of damaging an already dented international reputation.
In a ruling with huge repercussions for CNOOC Ltd’s proposed $15.1 billion takeover of Nexen Inc, Industry Minister Christian Paradis said the C$5.2 billion ($5.3 billion) bid by Petronas would not be of “net benefit” to Canada.
OTTAWA (Reuters) – Canada said it needs more time to complete its review of a $15.1 billion Chinese bid to take over oil and gas explorer Nexen Inc (NXY.TO: Quote, Profile, Research, Stock Buzz), a deal that has raised fears about opening the Canadian energy sector to the Asian power’s state-owned companies.
The government on Thursday extended its review of CNOOC Ltd’s (0883.HK: Quote, Profile, Research, Stock Buzz) bid by 30 days, to November 11. The decision comes amid a growing furor over alleged Chinese espionage in North America that could intensify opposition to the Nexen deal.
OTTAWA, Oct 11 (Reuters) – Canada’s imports in August
dropped by a surprising 3.1 percent from July, suggesting the
Canadian economy is struggling to cope with weak international
markets and slowing domestic demand.
The fall in imports reported by Statistics Canada on
Thursday overshadowed a bigger drop than expected in the trade
deficit, to C$1.32 billion ($1.35 billion) in August from a
record C$2.53 billion in July. Exports slipped by 0.1 percent.