Canada Financial News

Narendra Modi, Canadian PM Justin Trudeau is now encountering backlash in his home country over his treatment at the G20 Leaders Summit in New Delhi. PM Modi did not post any “welcome note" for Trudeau as he did for other leaders after the Canadian PM landed in India.

India and keeping the provinces in the dark about trade talks.In a letter Moe released Monday, Saskatchewan Trade Minister Jeremy Harrison argued Trudeau is picking a fight with India for domestic political gain and risking access to one of his province’s most important export markets.“It is very difficult to come to any other conclusion that your government has once again put its own domestic political interests ahead of the national economic interest — particularly as it relates to exports and trade of western Canadian-produced commodities,” Harrison wrote.Last month, Indian High Commissioner Sanjay Kumar Verma told The Canadian Press in an interview that Ottawa sought a pause “within the last month” to ongoing talks for an Early Progress Trade Agreement.The news stunned business leaders, and Harrison wrote that his peers have had a “complete lack of updates” on the negotiations since at least late July.“It is unacceptable to our government that we first heard of a pause in the EPTA negotiations through the media one week ago, and have received no explanation from (the) Government of Canada subsequent to that,” reads Harrison’s letter, dated Sept. 8.“Clearly, what your government has done has put the already strained Canada-India relationship in even further peril after some improvement following the prime minister’s disastrous trip to India in 2018,” he wrote, a reference to Trudeau being mocked for wearing traditional outfits and for inviting a convicted terrorist to a reception he hosted in India.Harrison added that provinces and territories ought to be present in the negotiations, saying this has been done in talks for past trade deals.

Justin Trudeau and his delegation are facing travel disruptions in India as their official aircraft developed technical issues, leaving them stranded in Delhi. The situation is causing uncertainty and may result in Trudeau's return to Canada being delayed. The 30-year-old aircraft, an Airbus A310, was scheduled to transport Trudeau and his team back to Canada from Delhi on Sunday night.

India is the top destination for Chinese companies, but it falls to 11th place in the overall rank as the most attractive destination when other factors are considered. In an Economist Intelligence Unit (EIU) report published this month, which indexes 80 investment destinations based on their appeal to Chinese investors, Singapore emerged the number one most attractive destination for Chinese companies to invest in. The China Going Global Investment Index uses a robust and quantitative approach to rank countries based on their attractiveness for Chinese outward direct investment (ODI). It is aimed at assisting Chinese firms narrow down the list of potential investment destinations, and also focus the minds of recipient governments on the issues that matter for Chinese investors. A total of 200 indicators were used to create the 2023 edition of the index.

G20 Summit in India. Trudeau needs to stay back in India till the engineering team on the ground rectifies the issue, the officials from the airport earlier told news agency ANI. A backup plane and spare parts are en route to India for the Canadian Prime Minister.

Cryptocurrency asset outflows for the week of Sep. 3 through 9 totalled $59.3 million, bringing the current run to $249 million over four consecutive weeks. 

Canada-listed rare earths junior Resouro Gold is collecting quite the Aussie shareholder base, as Taylor Collison begins preparations for a float on the ASX.

Mount Taranaki on the North Island in New Zealand and survived with minor injuries. Confirming the incident, the police said that the man survived because the spring weather softened the ice and the mountaineer landed in the snow. He was a member of the group that was climbing the Mountain Taranaki when he suddenly slipped and tumbled down.

G20 Summit, Canadian Prime Minister Justin Trudeau and his delegation are expected to depart from the national capital on Tuesday late afternoon. Canada's Prime Minister Trudeau was expected to leave India after the G20 Summit on Sunday.

Narendra Modi met Canadian PM Justin Trudeau on the sidelines of the recent G20 Summit in Delhi and conveyed India's “strong concerns” about the continuing anti-India activities of Khalistanis in Canada, Trudeau chose to defend Khalistanis. Modi told Trudeau that Khalistanis are promoting secessionism and inciting violence against Indian diplomats, damaging diplomatic premises, and threatening the Indian community in Canada and their places of worship while being in nexus with drug and human-trafficking syndicates. Refusing to acknowledge the problem, Trudeau said his country will always defend the freedom of peaceful protest.

After Ontario’s Progressive Conservatives were swept into office in June 2018, ending 15 years of Liberal rule, newly minted Premier Doug Ford provided his cabinet ministers a new north star. He would run a government defined by ethics, accountability and a province that was strictly “for the people.”

Telesat on Monday said it has signed a agreement with SpaceX to launch its low-Earth-orbit (LEO) satellite constellation called Lightspeed starting in 2026, with the aim of providing global broadband service from space in late 2027. LEO satellites operate 36 times closer to Earth than traditional ones so they take less time to send and receive information, leading to better and faster broadband service even in remote areas.

Canada may revise its immigration targets as it continues to struggle with a growing housing crisis. The country aims to welcome 465,000 new permanent residents in 2023, 485,000 in 2024 and 500,000 in 2025. Canada's Housing Minister, Sean Fraser, has highlighted the need for a balanced approach to immigration policy, acknowledging the need to consider changes while maintaining a commitment to high immigration levels. In an interview with CTV, Fraser emphased on aligning immigration policies with the absorptive capacity of communities, including factors like housing, healthcare, and infrastructure, reflects a practical approach to addressing the issues at hand. This approach recognizes that immigration should be managed in a way that doesn't overwhelm existing resources and services. The recognition that temporary immigration programs may require improvement, particularly in their uncapped nature, indicates a willingness to refine immigration mechanisms to better serve both newcomers and the host communities. While Fraser acknowledged immigration's role as a strong competitive advantage in Canada's global economy, he also reiterated that it would not be right to to solely blame immigration for the housing crisis.

Brian Armstong, CEO of the Coinbase crypto exchange, stressed the power of crypto voting blocks in the upcoming 2024 United States elections. He believes that the politicians don’t fully realize its importance.

Basilic Fly Studio debuted at a robust premium of 179% on the NSE Emerge platform. On listing, the stock rallied further 5% and was locked in upper circuit at Rs 284. The company has priced the issue at Rs 97 at the upper end. The debut of Basilic Fly Studio was on the expected lines, tracking the recent trend of massive listing gains in the SME segment. The Chennai-based VFX studio's Rs 66 crore IPO saw a subscription of 286 times, led by strong demand across categories.

Trudeau was in India for the G20 Leaders' summit on Sunday, Khalistani secessionists held a so-called ‘Referendum’ in Surrey, British Columbia. Designated terrorist Gurpatwant Singh Pannun, the founder of the banned Sikhs for Justice (SFJ), was present at the gathering of the Khalistani separatists held at the Guru Nanak Singh Gurudwara in Surrey, Vancouver. In a provocative speech, Pannun used intimidating language against Prime Minister Narendra Modi, External Affairs Minister S Jaishankar and other leaders. He claimed that the separatists were challenging the territorial integrity of India. Prime Minister Modi had on Sunday raised “strong concerns” about the continuous “anti-India activities” by extremist elements in Canada in his pull-aside meeting with Canadian PM Justin Trudeau. Prime Minister Modi stated that it was essential for the two countries to cooperate in dealing with such threats. “The Prime Minister conveyed our strong concerns about continuing anti-India activities of extremist elements in Canada.

As India handed over the G20 Presidency to Brazil, the member nations have committed to harnessing artificial intelligence (AI) technology in a responsible manner in addition to planning for a future involving crypto assets and central bank digital currencies (CBDC).

The Hindustan Times, this development coincided with Prime Minister Narendra Modi expressing India's deep apprehensions regarding the ongoing anti-India activities involving extremist factions in Canada to Canadian Prime Minister Justin Trudeau on the same day. The voting occurred at the Guru Nanak Sikh Gurdwara in Surrey, the very gurdwara that was previously led by Hardeep Singh Nijjar, the prominent figure of SFJ in the province.

The Canadian government is likely severely underestimating the cost of living for international students when weighing if they can support themselves financially, a new survey suggests.

Prime Minister Justin Trudeau’s return to Canada from the G20 summit in India has been delayed by problems with his plane.

G20 summit, with Justin Trudeau remaining adamant on the concept of «Freedom of Expression» for communities in his country and «foreign interference». Modi minced no words when he told Trudeau that relations were anchored in shared democratic values, respect for rule of law and strong people-to-people ties, officials informed. Modi conveyed India's strong concerns about continuing anti-India activities by extremist elements in Canada. They are promoting secessionism and inciting violence against Indian diplomats, damaging diplomatic premises and threatening the Indian community in Canada and their places of worship, officials said, adding that the nexus of such forces with organised crime, drug syndicates and human trafficking should be a concern for Canada as well.