Canada Financial News

Maiva Pharma, the Benguluru based pure play injectables Contract Development and Manufacturing Organization (CDMO) catering to US market, has raised Rs 1,000 crores in primary and secondary funding from a fund managed by Morgan Stanley Private Equity Asia and India Life Sciences Fund — IV (InvAscent), for a controlling stake from existing investors and infused primary capital in the company. Morgan Stanley PE Asia and India Life Sciences Fund are investing almost equally, total stake with both funds combined will be over 60% post primary investment, the company told ET. This is Maiva’s first private equity fundraise. Few existing high networth individual (HNI) investors will be exiting.

The majority of Canadian retirees are supporting their adult children financially, which they say is having a negative impact on their own finances, a new report has found.

U.S. regulators have decided to allow American fishermen to harvest thousands of pounds of a valuable species of tiny fish in the coming years, even as Canadian authorities have shuttered the industry while they grapple with poaching

Crypto exchange Coinbase is planning to offer a Canadian dollar stablecoin on its platform shortly after receiving an official license to operate within the country.

Unsung Hero released in the US on April 26 and has opened to a resounding success. This has been reported by ‘The Direct’. It has been released across 2,832 screens in the US and Canada and has earned over $7 million beginning from April 26 to 28. It is estimated that the box office collection will only increase even as the total budget of the movie is $6 million. Storyline

Canada’s February gross domestic product numbers were disappointing in more ways than one.

Those expecting a spring rebound in Canada’s housing market might have to wait longer than they thought.

Grocery and drugstore retailer Loblaw Cos. Ltd. raised its quarterly dividend by 15 per cent as it reported its first-quarter profit and revenue rose compared with a year ago.

boycott movement against Loblaw over high food prices say they are keenly aware they need to target more than just grocery stores to impact the mammoth corporation’s bottom line.Loblaw Companies Ltd. is the parent company of nearly two-dozen store brands spread across food, pharmacies, fashion, beauty and financial services.

gangster Goldy Brar in the United States has triggered widespread speculation and confusion across various social media platforms. Conflicting reports regarding the circumstances of his demise clash with claims of responsibility from rival gangsters Arsh Dalla and Lakhbir, adding uncertainty to the unfolding narrative.

Canada (IRCC) has announced that from April 30, it will cap the number of permanent residence applications accepted each year to those associated with no more than 10 start-ups per designated organization. “Fast processing is critical to the success of entrepreneurs who come to Canada through our federal business programs. These necessary changes will set the Start­up Visa Program and Self-Employed Persons Program on the path to faster processing times while we look ahead to further reforms to make these programs more sustainable and effective over the long term,” Marc Miller, Minister of Immigration, Refugees and Citizenship, said. Are you immigration ready? Find out This move is aimed at reducing the backlog and improving processing times for applications, which have grown significantly. With approximately 82 designated organizations comprising venture capital funds (VCFs), angel investors, and business incubators, the new cap translates to a maximum of 820 applications per year, assuming the number of designated organizations remains unchanged.

South Korea has held talks about joining part of the AUKUS defence deal between the U.S., Britain and Australia, Defence Minister Shin Won-sik said on Wednesday, only weeks after the pact said it would consider including Japan. Formed in 2021, AUKUS is a two-stage security pact to counteract China's growing power in the Asia Pacific region. While a first stage to give Australia nuclear submarine technology is limited to the core trio, they have raised the possibility of other countries joining a second stage, or «Pillar 2», that aims to share other military technology.

taxes to the Canada Revenue Agency.If you don’t, you can lose benefits, pay stiff fines or even face jailtime, an accountant told Global News.“Failing to file taxes by the deadline – there are some serious consequences,” Chartered Professional Accountant Shayan Rashid said.If you owe money, the late filing penalty is “five per cent of your 2023 balance owing, plus an additional one per cent for each full month that you file after the due date, to a maximum of 12 months,” according to the Canadian Revenue Agency (CRA) site.That means you could potentially end up paying 17 per cent of any balance you owe, Rashid said.But if the CRA charged you a penalty for filing late in 2020, 2021 or 2022 and requested a formal demand for return, the agency site says “your late-filing penalty for 2023 will be ten per cent of your balance owing” plus “for each full month that you file after the due date, to a maximum of 20 months.”“That’s just the penalty portion,” Rashid explained.“On the interest portion – this gets fun because now the rate of the CRA is charging is almost 10 per cent … and that compounds daily.”“If you have a balance owing for 2023 and are unable to pay it by the April 30 payment due date,” the agency’s site states, “the CRA will charge you compound daily interest starting May 1, 2024.”Rashid said the CRA can take more severe action if someone consistently files late or ignores repeated requests, like garnishing their wages, freezing bank accounts or placing liens on properties.“We have see the CRA go directly to the employer,” he said, speaking from Oakville, Ont, and that employer would be “required to pay the wages (to) the CRA first” before paying the employee.Extreme cases can result in tax evasion or fraud

Statistics Canada is predicting gross domestic product growth will be flat in March after data released Tuesday showed the Canadian economy slowed more than expected in February.

The Canadian economy lost momentum in February as it grew at a slower pace than both analyst expectations and Statistics Canada’s previous prediction, increasing the pressure on the Bank of Canada for a potential interest rate cut in mid-2024.

As Canada is braces for another record wildfire season, the climate crisis is bleeding into another major challenge facing Canadians — housing.

The article goes to great lengths to explain why the central incidents — involving the alleged assassination attempt of a Khalistan advocate in the US and murder of another in Canada — did not lead to public censure of India by the US. That India today is geopolitically and commercially important to the US, and like Saudi Arabia, it got a free pass from the Americans because they are, at least at present, playing on the same team. Where the article loses me, however, is in its linking the issue of extrajudicial killings with what it sees as the rise of 'deepening authoritarianism' in India. Killing dissidents, activists and journalists on foreign soil is chilling. And jailing them in a constitutionally democratic country is, indeed, a sign of creeping authoritarianism. But surgically targeting those deemed a credible threat to national security is what the US and its allies have been doing for decades.

Nations have made progress on a treaty to end plastic pollution at talks that have concluded in Canada

McDonald’s plans to step up deals and value messaging to combat slowing sales

HSBC, Europe’s largest bank, says that CEO Noel Quinn plans to retire after serving nearly five years in the post

Energy and environment ministers of the Group of Seven leading industrialized nations have committed to phase out coal power by 2035