Russia’s participation in the G20 ministerial meeting in Indonesia was “absurd” and “tantamount to inviting an arsonist to a firemen’s meeting”, Canada’s Finance Minister Chrystia Freeland argued today. “We were clearly opposed to the presence of Russian officials,” recalled the deputy head of the Canadian government, who has Ukrainian roots. The “illegal invasion” of Ukraine […]
Tag: Canada
Canadian finance minister: Inflation ‘very high’, but Canada may land soft
Despite inflation being “excessively high” and exacerbated by external factors such as the war in Ukraine, Canada’s finance minister says the economy can withstand the pressures and avoid a crash, according to Bloomberg. “Inflation is definitely up and I would say that’s our biggest concern right now,” Canadian Finance Minister Chrystia Freeland told Bloomberg TV’s […]
Giant 100 basis point interest rate hike by the Bank of Canada
The Bank of Canada raised interest rates by a full percentage point (100 basis points) in a surprise move to avoid consolidating inflation at a four-decade high. In particular, the central bank of Canada announced an increase in its key interest rate to 2.5%, informing about more increases in the future. The move of 100 […]
Siemens Energy says it will deliver the turbine for Nord Stream to Russia as soon as possible
Siemens said today that Canada’s decision to allow a turbine from its Canadian workshop to be shipped to Germany was a necessary first step in its return to the company that runs the pipeline and that it aims to move it there as soon as possible. “The political decision on exports is a necessary and […]
Canada returns repaired turbines to Germany for Nord Stream 1
Canada will return repaired Russian turbines to Germany, which are needed to maintain the Nord Stream 1 natural gas pipeline – with the exception of sanctions imposed on Moscow – the country’s Ministry of Natural Resources announced today. At the same time, the Canadian government announced that it would expand sanctions against Russia’s energy sector […]
Canada: Widespread problems wreak havoc on the country’s largest telecommunications company
Rogers Group, Canada’s largest telecommunications company, announced late Friday that it has begun to restore its network outage that lasted 19 hours and affected banking, transportation, access to government websites. Almost every facet of daily life in Canada was affected by this outage, as mobile and landline phones were knocked out and internet access was […]
Germany expects Canada to ‘release’ Nord Stream turbine ahead of maintenance work
Germany expects Canada to release a key component of the Russian pipeline that has been caught up in sanctions, a move that both Berlin and Moscow have said could ease gas flows to Europe. as the Bloomberg agency reports citing a source with knowledge of the matter, Germany expects that Canada will soon send back […]
Canada: Economy unexpectedly loses 43,200 jobs in June
Net change in employment surprises negatively, with an unexpected drop. Low unemployment rate but for bad reasons. The loonie falls against the dollar, holds against other rivals. The canada june employment report showed figures below expectations. The net change in employment was negative at 43,200, which was surprising as an increase of 22,500 was expected. […]
Canada: In the summer, the shipment of 39 armored vehicles to Ukraine begins
Canada will send 39 armored vehicles manufactured by General Dynamics to Ukraine, Defense Minister Anita Anand said yesterday. These are armored combat support vehicles manufactured at the General Dynamics plant in London, Ontario, and can be used as ambulances, as general support vehicles, and to transport soldiers on the battlefield. Their mission was first announced […]
Canada S&P Global Manufacturing PMI falls to 54.6 in June vs. 56.6 forecast
Canada’s S&P Global Manufacturing PMI disappointed market expectations in June. The USD/CAD pair is still trading slightly above 1.2850 after the data. Business activity in Canada’s manufacturing sector expanded at a softer pace in June than in May, with Canada’s S&P Global Manufacturing PMI falling to 54.6 from 56.8. This data was weaker than the […]