City Ottawa Financial News

Air Canada has awarded a Hong Kong company a major contract to perform heavy maintenance on 56 of its wide-body jets, sparking concerns about Chinese spies bugging the planes and aircraft becoming trapped in China if a military conflict erupts with Taiwan.

OTTAWA — The national price on pollution will rise by $15 per tonne today. Here’s some questions answered about what this could mean for you.

Four of the largest school boards in the Canadian province of Ontario have launched lawsuits against TikTok, Meta and SnapChat alleging the social media platforms are disrupting student learning

I have to say that watching the recent fiasco in the House of Commons with respect to the subtle (maybe not too subtle) shift in Mideast policy makes it embarrassing enough to be a Canadian, but the government’s mishandling of the economy and fiscal policy is beyond the pale — declining real per-capita incomes in Canada year in and year out.

Nine months after reaching a population of 40 million, Canada has cracked a new threshold.As of Wednesday morning, it’s estimated 41 million people now call the country home, according to Statistics Canada’s live population tracker.The speed at which Canada’s population is growing was also reflected in new data released Wednesday by the federal agency: between Jan. 1 2023 and Jan.

The construction of purpose-built rentals and condominiums hit “record levels” in 2023, data from the Canada Mortgage and Housing Corporation released on Wednesday shows.

By Peter Shawn Taylor

Foreign Affairs Minister Melanie Joly says Canada has airlifted 18 Canadians out of Haiti, as assisted departures began from the Caribbean nation on Monday.

Winnipeg.But he did not serve in Canada’s armed forces.Instead, he was a member of China’s People’s Liberation Army, according to records obtained by Global News.Before arriving in Canada in 2021, Xu worked at the military academy of the Chinese cyber warfare department that hacks Canadians and steals their secrets.Chinese state-sponsored cyber attacks have targeted Canadian companies, activists and government agencies.But three years ago, Xu obtained permanent residence in Canada and moved into a newly built suburban home in the Manitoba capital.Questioned by immigration officers when he landed at Vancouver airport, the 43-year-old said he and his wife left China because “the air quality was getting bad.”“Through the internet, we found out that the air quality is better in Canada.”He denied involvement in, or knowledge of, China’s cyber warfare and espionage programs, and insisted he was only a PLA instructor.But the army school in Henan where he taught is the training centre for the PLA hacking units that target Canada and the United States.It is also on the Canadian government’s list of “research organizations and institutions that pose the highest risk to Canada’s national security.”In addition, it has been rated a “very high risk due to its record of training signals intelligence and political warfare officers and carrying out offensive cyber operations.”Xu’s wife worked at the same PLA facility, as a language instructor, he told immigration officials.

Flair Airlines is putting up fewer flights domestically in Canada this spring, but the low-cost carrier’s CEO says it’s part of a broader push for the airline to fly into more sunny destinations.

OTTAWA (Reuters) -Canada's banking regulator is limiting the number of highly leveraged loans in banks' residential mortgage portfolios, which have ballooned alongside house prices to make Canadian borrowers among the most indebted in the world, the Globe and Mail reported on Friday.

Canada is set to implement measures to curb the influx of temporary foreign workers for the first time, as announced by officials on Thursday. Ottawa aims to reduce the number of temporary residents to five percent of the population over the next three years, down from the current 6.2 percent, which translates to 2.5 million people. The proposed target will be solidified following consultations with Canada's provinces, some of which have expressed concerns over significant migrant inflows amid housing shortages and increased demands for services. Restrictions on temporary foreign worker permits are scheduled to commence on May 1. This decision comes on the heels of a recent announcement imposing a cap on new permits for international students and introducing visa requirements for certain Mexican travelers.

Canada’s competition watchdog is urging Ottawa to drop requirements for some borrowers to pass the mortgage stress test at renewal, arguing it limits Canadians’ abilities to shop around for a better rate.

By Promit Mukherjee and David Ljunggren

Canada’s federal budget, due next month, is likely to allocate billions of dollars for investing in building homes and low cost housing programs, Housing Minister Sean Fraser said on Monday.

More than 80 per cent of newcomers who arrived in the past decade say Canada is too expensive to live in as they try to establish themselves amidst rising costs and employment-related obstacles, according to a new survey.

Signals that Ottawa wants more domestic investment from Canadian public pension funds are being amplified by some members of the business community who argue there’s more these large pools of capital can do to boost Canada’s economy.

When Gobindbir Singh describes the stress international students are under, he remembers a young man who called in tears.

Justin Trudeau’s government will end up tapping the bond market for around $250 billion in debt next year, one of the country’s biggest lenders says.

OTTAWA (Reuters) — The Canadian province of Quebec on Tuesday forecast its 2024/25 budget deficit would hit a record C$11 billion from the C$4 billion forecast last November and blamed a sluggish global economy and investments in public services.

Canada’s finance minister announced tax relief aimed at the country’s small breweries ahead of a deadline that would have seen certain duties on domestic beer, wine and spirits more than double.