Canada Financial News

Canada's Immigration Minister, Marc Miller, announced a substantial increase in the financial criteria for international students applying for study permits, emphasising the government's commitment to safeguarding the integrity of the education system, CBC reported. Miller also issued a stern warning, threatening to «significantly limit visas» if provinces and educational institutions fail to take appropriate actions before the upcoming fall term. Do you meet the immigration criteria? Check here The decision also extends the temporary lift on the 20-hour work limit for international students, now extended until April 30, 2024. Miller outlined the government's concerns about potential abuse in the system, targeting both questionable employers and institutions that may not be providing a genuine educational experience, according to Canadian public broadcaster CBC. During a news conference, Miller expressed concerns about certain educational institutions operating as «puppy mills» and emphasised the need to address fraud and abuse within the system. He said, «There are, in provinces, the diploma equivalent of puppy mills that are just churning out diplomas, and this is not a legitimate student experience.» The increased financial requirement for prospective students will be raised to USD 20,635, doubling the longstanding USD 10,000 threshold.

A federal judge in Seattle has ruled that Changpeng Zhao, the founder and former CEO of Binance, must remain in the United States while awaiting sentencing on money laundering charges.

Phoenix Group, a United Arab Emirates Bitcoin mining firm, has disclosed a $380 million deal with WhatsMiner for hydro cooling mining equipment.

The federal government is roughly doubling the amount of money international students need to prove they have in order to get a study permit, says Immigration Minister Marc Miller.

Wild Cards, a crime procedural series featuring Vanessa Morgan, is set to premiere on January 10, 2024, in Canada and on January 17 at 8 p.m. ET in the United States.

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Twenty months after the Bank of Canada launched one of the most intense interest-rate hiking cycles on record, the bond market is indicating that cuts are on the way.

Sagard, an alternative asset management firm controlled by Quebec’s Desmarais family, is acquiring a strategic stake in Connecticut-based Performance Equity Management, boosting Sagard’s assets under management to more than $25 billion from around $15 billion.

Laurentian Bank of Canada said it missed all of its financial goals for 2023 and will take a restructuring charge to reduce costs, underscoring the huge turnaround job ahead for new chief executive Eric Provost.

Canada will require its oil and gas industry to cut emissions to 35 per cent to 38 per cent below 2019 levels in six years in what the government is calling a historic first for a major fossil-fuel producing country.

Galen G. Weston says “we know we all need to do more to help” as he and the head of Walmart Canada appeared back to Ottawa to explain their plans to stabilize food prices.The appearance comes just hours after a new 2024 Food Price report from Canadian researchers suggested grocery prices are expected to rise next year, but not at the same pace as was seen in 2023 as inflation cools.The researchers estimate food prices will increase by 2.5 to 4.5 per cent in 2024.

Khalistani extremist on Indian Parliament. MEA spokesperson Arindam Bagchi said here on Thursday that India has raised with both the US and Canada the issue of threats by a Khalistani extremist on Indian Parliament. Khalistani terrorist Gurpatwant Singh Pannun has released a video in which he said he would attack the Indian Parliament on or before December 13. Notably, December 13 will mark the 22nd anniversary of the Parliament attack by terrorists in 2001.

Security personnel at the Bank of Canada could walk off the job in the new year if they vote to get into strike position later this month.

Minister of State in the Ministry of External Affairs V Muraleedharan told the Rajya Sabha on Thursday, “403 incidents of death of Indian students abroad have been reported since 2018." Various reasons for the death include "natural causes, accidents and medical conditions". The minister also shared country-wise details of Indian student deaths abroad since 2018. Canada topped the chart with 91 deaths reported since 2018, followed by the United Kingdom with 48 deaths, Russia with 40 deaths, the United States of America (USA) with 36 deaths and Australia with 35 deaths.

Ministry of External Affairs spokesperson Arindam Bagchi on Thursday said the authorities in the United States and Canada have been apprised of the threats issued by Khalistani terrorist Gurpatwant Singh Pannun on the Indian Parliament. In a recent video, Pannun, a designated terrorist by the National Investigation Agency, threatened to attack the Indian Parliament on or before December 13. He holds dual citizenship in both the US and Canada.

national security, it was decided to institute an inquiry into the matter and an inquiry committee has been constituted," the minister said while speaking in Rajya Sabha. “Insofar as Canada is concerned, no specific evidence or inputs were provided to us. So, the question of equitable treatment to two countries, one of whom has provided inputs and one of whom has not, does not arise," the minister added.

Inflation is still running high, so most of the important tax figures have been substantially increased for 2024. Here are the new tax numbers you need to know.

The Bank of Canada is holding its benchmark lending rate at five per cent, but warned that it was prepared to hike  rates again if necessary, adding a hawkish overtone — tinted with a “dovish undertone” — to its third consecutive hold.

A Belleville, Ont., mother was arrested after police say a baby was found with hypothermia after being left on the front porch of a home.

the movie theatre in Vaughan Tuesday night", York Regional Police said adding that “around 200 people were inside the theatre, and were watching a Hindi movie". Following the incident, several spectators were treated for exposure to the unknown irritating substance and the theatre had to be evacuated. However, the suspects managed to flee before the police arrived, the investigators said.

Chevrolet Volt after receiving several complaints about the performance of the plug-in hybrid vehicles.The move follows the U.S. National Highway Traffic Safety Administration’s (NHTSA) opening of a preliminary investigation into 73,000 Chevy Volts over reports of abrupt loss of power, failures to restart and other issues.The NHTSA is evaluating 2016 to 2019 Volts manufactured by General Motors.So far, the American regulator has received 61 complaints related to the car’s battery energy control module (BECM).