Canada’s economy is expected to face a slow and uneven recovery over the next two years, according to a new report by KPMG. The accounting firm’s Fall 2026 Economic Outlook forecasts that Canada’s GDP growth will remain at just 1 per cent in 2026 due to ongoing trade tensions. The report projects economic growth to improve to 1.8 per cent in 2027 and 2 per cent in 2028. KPMG noted that its forecast does not factor in any potential trade deal with the United States. However, continued consumer spending, increased investment in artificial intelligence infrastructure and a boost from the 20

Nine people have been arrested following a major interprovincial drug trafficking investigation involving Winnipeg Police, the Canada Border Services Agency (CBSA), Peel Regional Police and the RCMP. Authorities seized drugs worth approximately $970,000 during the joint operation. Six of the accused are from Winnipeg. They have been identified as 57-year-old Davinder Singh, 32-year-old Tarundeep Singh, who are reportedly father and son, 24-year-old Karanveer Singh, 47-year-old Amandeep Singh, 37-year-old Mandeep Singh Datta and 25-year-old Maganpreet Boparai. Three other individuals were arres

The Canadian government has officially informed Hockey Canada that visas will not be issued to Russian players seeking to participate in the World Junior Hockey Championship, which will be held in Edmonton and Red Deer. Sports Minister Adam van Koeverden also clarified that Russian players who already hold valid Canadian visas to play for teams in Canada will also be deemed ineligible, even if they were scheduled to represent another country. Van Koeverden said the Immigration Minister is taking steps to prevent athletes and officials from Russia and Belarus from entering Canada, even if they

Chinese electric vehicle (EV) manufacturing in Canada could become a possibility, as Prime Minister Mark Carney has confirmed that he will discuss the issue with Chinese President Xi Jinping during their meeting next week. However, Carney has downplayed expectations of Chinese EV production beginning in Canada in the near future. Speaking to reporters in Dublin, Ireland, on Thursday, Carney said the extent of Chinese investment in Canada would depend on several factors, including the ongoing trade negotiations between Canada and the United States. Carney is scheduled to meet Xi Jinping next we

A pilot was killed after a small plane crashed in Quebec’s Beauce region during a Remembrance Day ceremony on Wednesday morning. According to police, the incident occurred at around 11 a.m. while a formation of six aircraft was performing a missing man formation to honour fallen soldiers. The plane crashed while descending for landing. The small aircraft went down in a wooded area near Saint-Georges Airport, about 100 kilometres south of Quebec City, and caught fire. The pilot was the only person on board. The deceased pilot has been identified as 68-year-old Daniel Parent, a member of a loc

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