Canada Financial News

Canada between April 2022 and March 2023, according to a recent report from The Technology Councils of North America (TECNA) and Canada's Tech Network (CTN). Out of more than 32,000 tech workers, 15,097 came from India, followed by 1,808 from Nigeria, partly due to Canada's immigration-friendly national policy and labor cost advantage, the report said. According to the report, the rise of remote work has resulted in tech talents more frequently moving away from traditional tech hubs. This is partly due to the COVID-19 pandemic, the report said. The same report said that in 2022, Canada had more than 400,000 software developers in the country and the growth of the national tech workforce has not been limited to the bigger Canadian markets. In fact, smaller provinces like Saskatchewan and Newfoundland and Labrador have experienced the most rapid growth in their tech workforces, with a year-over-year growth of 16.3%. Mississauga, home to nearly 1,000 IT companies with over 300,000 tech professionals, and Montreal, where tech ecosystems have grown around 31 per cent from 2015 to 2020, were among the top Canadian cities to tap the talent.

News stories of badly behaved tourists in Yellowstone National Park have been going viral all summer, and they only keep coming.

When Prime Minister Justin Trudeau and his cabinet went into a huddle at this year’s cabinet retreat in Charlottetown, it was clear that housing was top of mind. When Trudeau emerged from the retreat last week, he told reporters some of the measures Canada most needs.

As Canadians continue to enjoy the last bit of summer’s sun-soaked days, doctors say they are bracing for a potential “tripledemic” of influenza, respiratory syncytial virus (RSV) and COVID-19, signalling the imminent arrival of respiratory flu season.

Former Olympic figure skater Alexandra Paul has died, according to Skate Canada. She was 31.

Strength in energy stocks as the price of oil topped US$80 per barrel helped lead a broad rally on the Toronto Stock Exchange as Canada’s main stock index rose more than 150 points, while U.S. stock markets also climbed higher.

FIBA Basketball World Cup, the USA have registered two initial wins, cruised past Greece, and have clinched the group round. Canada defeated France, who were eliminated on Sunday after yet another defeat at the hands of Latvia. Steve Kerr has coached Team USA and led by Anthony Edwards, Jalen Brunson, Jaren Jackson Jr. and Mikal Bridges led them. The US finished seventh in 2019 and they hope for a better result this year.

ransomware attacks, with organized cybercrime activity posing a threat to national security, economy and critical infrastructure, officials are warning.The Canadian Centre for Cyber Security released a report Monday, saying that over the next two years, “financially-motivated cybercriminals will almost certainly continue to target high-value organizations in critical infrastructure sectors in Canada and around the world.”In particular, the agency categorized ransomware — in which digital files are held hostage or encrypted until a fee is paid — as the “most disruptive” form of cybercrime facing Canada.“Ransomware has become one of the most devastating types of cybercrime, impacting individuals, businesses, and government agencies,” the report said.“Over the next two years, we assess that cybercrime activity in Canada will very likely increase.”The warnings come amid a year that has seen dozens of high-profile cyberattacks and ransomware targeting major businesses, healthcare networks, law enforcement and governments around the world.Among all the ransomware incidents in Canada, the top sectors targeted in 2022 were manufacturing, businesses and professional services, information and communication technology, retail and consumer goods, and healthcare and pharmaceuticals.Meanwhile, the top ransomware variants included LockBit, Conti, BlackCat/ALPHV, Black Basta and Karakurt.The report assessed Russia, and to a lesser degree Iran, as likely “safe havens” for cybercriminals operating against Western targets.“We assess that Russian intelligence services and law enforcement almost certainly maintain relationships with cybercriminals and allow them to operate with near impunity,” the centre said.Canadian retailers and

TORONTO — In May, Canadian banks offered support to those affected by an early wave of wildfires in Alberta. In June, they extended the offer to those hit in Nova Scotia, and some expanded it further as fires also raged in Quebec and Ontario.

Mortgage data from Canada’s two biggest banks are painting a picture of homeowners straining under high borrowing costs.

Canada immigration minister Marc Miller has expressed concern over the ‘integrity’ of student immigration in the North American nation amid reported cases of fake admission into colleges by agencies that had the potency to ruin a students' career and future. Marc Miller in an interview with Canada Broadcasting Corporation said that the Canada is concerned about the overall integrity of the system that educates hundreds of thousands of international students and not just the added pressure they put on housing.

I can predict one thing with certainty about anyone who reads this week’s Ontario Court decision about Jordan Peterson and the College of Psychologists: they will be stricken with overwhelming boredom.

Karl Schamotta, chief market strategist at Corpay, talks about recent Canadian economic data and what the numbers mean for the Bank of Canada, the path for major world economies and what to expect from the Canadian dollar.

The sharp escalation of global bond yields in recent weeks raises the prospect we may be in the middle of a structural shift to a world of permanently higher borrowing costs.

Good morning,

Brookfield is looking to grow its $25-billion asset portfolio in the country further, said former central banker Mark Carney, also the UN Special Envoy for climate action and finance. The chair of Brookfield Asset Management and head of transition investing at the firm told Deepshikha Sikarwar & Vinay Pandey in an interview that India has a big opportunity amid global supply chain disruptions. Edited excerpts:The US Federal Reserve chairman has made it clear the central bank is not done with containing inflation. What is your reading of Jerome Powell's statement?My reading of what he emphasised is that the Fed's policy is going to continue to be restrictive for some time.

Half of the world’s biggest lithium mines put on the market since 2018 were bought by Chinese companies, underscoring the tightening grip of the world’s second-largest economy over the global battery metal supply chain.

NEW DELHI : The transformation under way in India is a key source of optimism for Mark Carney, the chair of Brookfield Asset Management, and the head of transition investing and UN special envoy for climate action and finance. In an interview, Carney, who was the governor of Central Bank of Canada (2008-13) and Bank of England (2013-2020) before joining the asset manager, said it was impressive that some of India’s largest conglomerates are pushing ahead in the clean-energy space. Last year, Brookfield closed a $15 billion global fund to invest in clean energy; of this, the asset manager invested $1.5 billion in India.

NEW DELHI : A new model of colonialism may arise if countries with large reserves of critical and rare earth minerals do not consider these resources as a global responsibility, Prime minister Narendra Modi on Sunday said, sounding what he called a “serious warning". Addressing the B20 Summit of business representatives from G20 countries, Modi said while critical and rare earth minerals are the need of the entire world, they are unevenly distributed globally—some countries have large quantities of these minerals while others do not have them at all.

OTTAWA (Reuters) — Canada is concerned about the overall integrity of the system that educates hundreds of thousands of international students and not just the added pressure they put on housing, Immigration Minister Marc Miller said in an interview with the Canadian Broadcasting Corporation.

By Fergal Smith