Canada’s major banks and real estate developers are urging the federal government to ease mortgage rules and introduce down payment assistance programs for young, first-time homebuyers purchasing newly built homes. The group includes major financial institutions such as the Royal Bank of Canada (RBC), BMO, TD, CIBC and Scotiabank, along with 10 major homebuilders, including Minto and Brookfield. They are recommending that the government make the mortgage stress test less restrictive and lower down payment requirements for young first-time buyers. The group says the ongoing slowdown in Canada

Prime Minister Mark Carney has strongly criticized Stellantis over its decision to sell the Brampton plant, calling the move completely unacceptable and a violation of the company's commitments. Carney defended Industry Minister Mélanie Joly, saying the controversy does not reflect on the minister's efforts but rather highlights the company's unfair treatment of its workers. The Prime Minister assured that the government would use all available legal powers to protect Canadian workers' interests and safeguard public funds. Carney also announced that an important meeting involving all stakehol

Canada has reimposed sanctions on 11 major Iranian entities to prevent them from financing Iran’s nuclear activities and ballistic missile program. Foreign Affairs Minister Anita Anand announced the measures during the G7 foreign ministers’ meeting in Paris, saying Canada would not allow Iran to develop nuclear weapons under any circumstances. Ottawa had removed these entities from its sanctions list in 2016 following the 2015 international nuclear agreement. However, the sanctions have now been reinstated due to Iran’s failure to cooperate with the International Atomic Energy Agency (IA

Transferring money between bank accounts in Canada is set to become faster and easier with the launch of a new real-time payment system. Payments Canada announced on Monday the launch of its Real-Time Rail (RTR) payment system. Currently, transferring money between banks and completing business transactions can take considerable time. However, the new RTR system will allow consumers and businesses to send and receive money within seconds, 24 hours a day, seven days a week, including weekends and holidays. Initially, fintech companies such as Wealthsimple and KOHO are testing the system to offe

Prime Minister Mark Carney has announced the appointment of the CEO of Canada’s first-ever sovereign wealth fund, named the Canada Strong Fund. Karen Karniol-Tambour, currently co-chief investment officer at U.S.-based asset management firm Bridgewater Associates, will take on the role. A Canadian citizen, Karniol-Tambour joined Bridgewater in 2006 and is now leaving the firm after nearly two decades to return to public service in Canada. The Canada Strong Fund will launch with an initial capital of $25 billion and aims to invest in major infrastructure projects across the country. One of th

The Canadian government is planning to grant the country's intelligence agency, the Canadian Security Intelligence Service (CSIS), the authority to conduct espionage operations overseas. The move could mark a major first step towards establishing a separate foreign intelligence agency similar to the United States' CIA and Britain's MI6. Prime Minister Mark Carney's government announced $6 billion in additional funding for CSIS over the next 10 years in its recent federal budget. A portion of the funding is expected to be used to strengthen the agency's ability to gather foreign intelligence. C

Canada and the Philippines could announce the conclusion of negotiations on a free trade agreement this week, marking a major milestone in relations between the two countries. Prime Minister Mark Carney arrived in Manila on Saturday as part of his international tour. He is expected to finalize the trade agreement on the sidelines of the ASEAN Summit. According to the Canadian government, the deal is expected to triple bilateral trade between the two countries by 2035. The Philippines plays a key role in Canada's Indo-Pacific strategy. The importance of the relationship is reflected in the fact

The Canadian government has allocated nearly $30 billion in Budget 2026 to tackle homelessness across the country over the next 10 years. Under the plan, the government will invest $11.2 billion over the next four years, followed by another $17.8 billion over the subsequent six years, to help people overcome homelessness. Finance Minister François-Philippe Champagne described the initiative as one of the government's key policy priorities. Champagne said the funding aims to provide permanent housing for people experiencing homelessness, build community-based mental health and addiction treatm

B.C. Premier-designate Lorne Doerkson has voiced support for the federal budget presented by Prime Minister Mark Carney’s Liberal government, calling it encouraging for Canada’s economic future. The budget includes $6.5 billion in funding to support the forestry industry, which has been hit hard by U.S. tariffs. Doerkson expressed hope that British Columbia would receive a significant share of the funding, noting that the forestry sector is a major pillar of the province’s economy. Former B.C. Forests Minister Ravi Parmar also welcomed the funding, describing it as a good start. He said