OTTAWA, Sept 11 (Reuters) – Canada plans to create a new
class of visa that it hopes will attract high-tech and other
entrepreneurs to immigrate to the country to start new
companies, officials said on Tuesday.
It has put a moratorium on issuing its existing entrepreneur
visa, which only required an immigrant to hire one person for
one year, and intends to initiate a visa that would be issued to
people identified by venture capital funds as candidates to
create start-up firms in Canada. The venture funds would be
required to invest in the start-ups.
OTTAWA, Sept 7 (Reuters) – Canada has closed its embassy in
Iran and will expel all Iranian diplomats in Canada within five
days, Foreign Minister John Baird said on Friday, denouncing
Tehran as the biggest threat to global security.
“Diplomatic relations between Canada and Iran have been
suspended,” Baird said.
OTTAWA, Sept 7 (Reuters) – The Canadian economy added 34,300
jobs in August, recouping all 30,400 positions lost in July as
it returned to the recent trend of slow net increases in
employment, Statistics Canada data on Friday showed.
The gains topped expectations by analysts surveyed by
Reuters. They predicted, on average, a gain of 10,000 jobs, and
the highest prediction was for 25,000.
OTTAWA, July 19 (Reuters) – Statistics Canada on Thursday
said it was seeking comments about possible changes to the way
it releases government data, an idea it floated in April but
abandoned after a media outcry.
The federal agency said it had begun consulting news
organizations on whether to delay the release of data from its
media lockup room to 08:30:04 from 08:30:00, so that the
material could appear simultaneously on its website.
OTTAWA, July 19 (Reuters) – Air Canada has hired
Prime Minister Stephen Harper’s deputy chief of staff, Derek
Vanstone, to oversee the airline’s government relations and
strategy at a time when it needs Ottawa’s help to deal with a
gaping pension fund deficit.
The country’s largest airline said in a statement on
Thursday that Conflict of Interest and Ethics Commissioner Mary
Dawson had approved Vanstone’s new role. His job description was
broad enough that Air Canada appeared to think he would be able
to function within the curbs faced by former government
officials joining other sectors.
OTTAWA (Reuters) – Central bankers and regulators will hold talks in September on whether the troubled global Libor interest rate can be reformed or whether it is so damaged that the benchmark of borrowing costs should be scrapped.
Bank of England Governor Mervyn King told fellow central bankers in a letter that it was “very clear that radical reforms of the Libor system are needed”.
OTTAWA, July 18 (Reuters) – Canadian households will see
their debt burden worsen further in coming months even after the
government stepped in to tighten mortgage rules, the Bank of
Canada said on Wednesday, pointing to signs of “overbuilding” in
the housing market.
The warning came as the central bank downgraded all its
quarterly economic growth forecasts until the second quarter of
2013 to reflect weaker-than-expected domestic demand. On
Tuesday, the bank held its benchmark interest rate at 1 percent
but signaled it may need to raise rates.
OTTAWA, July 17 (Reuters) – The Bank of Canada left interest
rates unchanged on Tuesday, but made clear it was still weighing
an eventual move higher, even as other central banks ease
monetary policy to cope with damaging economic slowdowns.
The bank repeated mildly hawkish interest rate language it
used in June, surprising many economists who thought it would
dilute or possibly even eliminate talk of possible higher rates
because of slower growth and worse global prospects.
OTTAWA (Reuters) – The Canadian financial regulatory body IIROC is reviewing the way the Canadian equivalent of the Libor benchmark lending rate is set in light of revelations of a global rigging scheme in setting Libor, a spokeswoman said on Friday.
The subject of the review is CDOR, the Canadian Dealer Offered Rate. CDOR is determined daily by a survey of bid-side rates provided by the main market makers, including the major Canadian banks. The survey is posted by Reuters.
OTTAWA, July 13 (Reuters) – The Canadian financial
regulatory body IIROC is reviewing the way the Canadian
equivalent of the Libor benchmark lending rate is set in light
of revelations of a global rigging scheme in setting Libor, a
spokeswoman said on Friday.
The subject of the review is CDOR, the Canadian Dealer
Offered Rate. CDOR is determined daily by a survey of bid-side
rates provided by the main market makers, including the major
Canadian banks. The survey is posted by Reuters. CDOR