As markets anticipate lower interest rates from the Bank of Canada, some types of five-year fixed mortgage rates are seeing the lowest rates in months, including offerings below five per cent interest. But as many Canadians face loan renewals in the new year, economic activity overall may still face slowdowns …
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Harry Rosen, founder of Canadian menswear chain, dies at 92
The founder of Canadian men’s clothing retailer Harry Rosen Inc. has died at 92. Rosen passed away on Sunday, son Larry confirms. The founder of Canadian men’s clothing retailer Harry Rosen Inc. has died at 92. Rosen opened his first made-to-measure menswear store on Parliament Street in Toronto in 1954 …
Read More »DBM vows to reduce budget deficit in 2024
DBM Secretary Amenah Pangandaman Management (DBM) said it supports the government’s plan to reduce the budget deficit in 2024 and manage debt while supporting the post-pandemic recovery. “We are one with the President in ensuring that we honor the taxpayers who make the national budget possible. As what the President …
Read More »Philippines retailers group lauds Go’s appointment as presidential adviser
Frederick Go (STAR / File) MANILA, Philippines — The Philippine Retailers Association (PRA) has lauded President Marcos’ appointment of Frederick Go as presidential adviser for investment and economic affairs. PRA president Roberto Claudio said the decision to appoint Go reflects a discerning choice, citing his exceptional representation of the private …
Read More »Good governance for higher growth
There is a healthy trend in the Philippines and the whole of the ASEAN region for private business to adopt good governance practices. This move is facilitated by the introduction of the ASEAN Corporate Governance Scorecard (ACGS) which measures the performance of the business enterprises, especially Publicly Listed Companies (PLCs), …
Read More »Group sees 2024 exports rising over 5% on electronics recovery
A business group expects Philippine merchandise exports to grow 5 percent to 6 percent in 2024 on the expected recovery of the global electronics sector. Philippine Exporters Confederation Inc. (PhilExport) chairman George Barcelon expressed hope 2024 would be better compared to this year, with easing inflation and declining commodity prices. …
Read More »Stock markets mixed before Christmas break as US inflation cools
A trader works on the floor of the New York Stock Exchange during opening bell in New York City on August 21, 2023. European and US stocks rebounded on Monday but Asian markets ended mixed after a Chinese rate cut failed to reassure investors worried about the outlook for the …
Read More »Ottawa looks at including used cars in federal EV incentive, report says
A government report suggests federal incentives for used electric vehicles could be in the works as Ottawa pushes to phase out gas-powered cars. Federal program currently offers incentives for only new vehicles. A government report suggests federal incentives for used electric vehicles could be in the works as Ottawa pushes …
Read More »Energy regulator rejects FortisBC’s $327M application for natural gas pipeline
The B.C. Utilities Commission (BCUC) has rejected an application from FortisBC to build a natural gas pipeline worth $327 million in the Okanagan region. FortisBC had argued that 30 km of new pipeline was needed to meet Okanagan area’s energy demands, The B.C. Utilities Commission (BCUC) has rejected an application …
Read More »Alberta coal policy changes triggers joint lawsuit from coal companies
A trial date has been set for early 2025 to sort out whether Alberta is liable for billions in compensation due to policy changes for coal development in the province. 4 separate statements of claim consolidated into single trial to start in early 2025. A trial date has been set …
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