Canada’s services sector continued to contract in September, marking the fourth consecutive month of decline. According to the S&P Global Canada Services PMI, released Monday, the headline business activity index improved slightly to 48.3 in September, up from 46.8 in August, but remained below the key 50 mark that separates expansion from contraction. Experts attributed the weakness to ongoing tariff disputes, U.S. restrictions on Canadian products and global uncertainty linked to tensions in the Middle East. However, there was some positive news as Canadian companies remained optimisti

Canada and India have begun the fifth round of trade negotiations in Ottawa, with International Trade Minister Maninder Sidhu confirming that the talks got underway today. Sidhu highlighted the strength of India’s economy, saying it is growing at an annual rate of 7%. He also noted that India’s energy needs are expected to increase by up to 70% by 2035, adding that Canada could play an important role in meeting that demand. The chief negotiators from both countries are working to finalize a free trade agreement by the end of this year. The latest round of talks in Ottawa will continue unti

The trial of former Air Canada employee Parampal Sidhu has begun at a Brampton court in the high-profile case involving the largest gold heist in Canadian history. The trial is expected to last two to three weeks. Sidhu faces charges of theft over $5,000 and conspiracy to commit an offence in connection with the case. The trial comes after prosecutors last month withdrew charges against two alleged suspects, Amit Jalota and jeweller Ali Raza, who was accused of purchasing some of the stolen gold. The gold heist took place on April 17, 2023, when nearly 400 kilograms of gold worth more than $20

Quebec is voting today in a provincial election across 127 ridings, with the pro-independence Parti Québécois (PQ) and its leader Paul St-Pierre Plamondon leading in recent polls. The PQ has promised to hold a referendum on Quebec’s independence if it forms government. However, Plamondon has made it clear that the referendum would not take place before 2029, while Donald Trump remains in the White House. The PQ is competing against the Coalition Avenir Québec (CAQ), which has been in power for two consecutive terms. CAQ leader Christine Fréchette has campaigned on what she describes as a

Canada’s Parliament resumed sitting Monday, with debate expected to continue on the federal government’s Bill C-39. The proposed legislation includes measures aimed at speeding up the approval process for projects considered to be in the national interest, with the government seeking to complete the process within one year. Bill C-39 also proposes changes to federal labour rules, including provisions governing the intervention of the employment minister during labour disputes and circumstances involving strikes. The government is also expected to introduce new legislation dealing with nati

Canada and its G7 allies have agreed to release 100 million barrels of oil from emergency reserves to help ease surging global oil prices. A significant portion of the supply will be diesel, as prices for the fuel have reached record levels in Canada, the U.S. and other countries. Canada’s average diesel price stood at around $2.63 per litre on Thursday, while prices in major cities such as Vancouver were close to $2.71 per litre. The higher costs have placed additional financial pressure on truck drivers and farmers. Canada, the United States, the United Kingdom, France, Germany, Italy, Jap

Conservative Leader Pierre Poilievre says his party will introduce an Emergency Fuel Relief Motion in Parliament next week to provide relief from high diesel prices. Poilievre said Canadians are currently paying about 41 cents more per litre than the global average and 32 cents more than Americans, adding to the financial pressure on farmers, businesses and families. He blamed the Liberal government for delaying and blocking energy projects over the past 11 years, saying Canadians are now facing the consequences. The Conservatives say they will push for a vote on their Emergency Fuel Relief Pl

Canada has asked the Indian government to arrest and extradite Simranpreet Panesar in connection with the historic $22-million gold heist at Toronto’s Pearson International Airport. Peel Regional Police believe the former Air Canada employee was a key figure in the alleged conspiracy and misused his position at the airline’s cargo warehouse to help steal the gold. According to a National Post report, India’s Enforcement Directorate (ED) is separately investigating Panesar in connection with a hawala network, and he is currently barred from leaving the country. Canadian authorities are se

The Bank of Canada may raise its policy interest rate this month as inflation risks continue to grow. UBS Global Research expects the central bank to increase the rate by 0.25 percentage points at its upcoming meeting, following seven consecutive decisions to hold it at 2.25%. UBS economist Abigail Watt expects another 0.25-point increase in January, taking the policy rate to 2.75%, which she considers the midpoint of the bank’s neutral range. Rates could then remain unchanged for an extended period. The forecast marks a shift from earlier expectations that the Bank of Canada would leave rat