Canada

The World Bank announced a new strategy on Friday that focuses on jobs to help small island states, and other small countries address challenges like remoteness, shock exposure and a limited economic base. World Bank President Ajay Banga spoke about the initiative in a closed door meeting of 50 ministers and governors of central banks from small countries, held during the spring meetings for the International Monetary Fund (IMF) and World Bank. He explained that the idea was to use different tools to help smaller states attract more investment, implement policy and regulatory changes to make it easier to run...

Alberta, Canada's oil-producing province, announced a C$9.4 billion ($6.87billion) budget deficit for the fiscal year 2026/27 on Thursday. This was a violation of its own rules regarding deficit financing. The province blamed lower global crude prices as a major factor in the decline of its resource revenues. Alberta is vulnerable to fluctuations in commodity prices, which has prompted the government to undertake a 'broad review' of its finances and expenditures, with the aim of restoring budget sustainability over the long-term. Alberta has the third largest oil reserve in the world, Canadian oil sands. Its economy is heavily dependent on the...

The U.S. Supreme Court has agreed to hear ExxonMobil and Suncor Energy's bid to quash a lawsuit filed by Boulder, Colorado officials who want to hold oil companies responsible for climate change. The Supreme Court heard an appeal from the companies against a ruling of the lower court that allowed the lawsuit to proceed. The lawsuit alleging violations of state law by the companies seeks unspecified damages for "costs incurred" by Boulder in mitigating climate change. Boulder is just one of the dozens of climate-related cases filed by U.S. states against companies that produce, extract, distribute, or sell fossil fuels....

Alberta will hold a referendum in the fall asking residents whether the government should limit?the number of international students, 'temporary foreign workers' and asylum seekers who?arrive?into the oil-rich Canadian Province. Alberta's Premier Danielle Smith announced the move in a television address on Thursday night. It is an attempt to take control of this important issue away from the federal government. Ottawa is responsible for the majority of immigration policy in Canada, and not the provinces. This is a blow to Canadian unity at a time when the Prime Minister Mark Carney is trying to improve relations with resource-rich western provinces,...

The main Canadian stock index was a little subdued Thursday as declines in healthcare and financial shares overshadowed gains in energy stocks. As of 10:15 a.m., the S&P/TSX composite index was down 0.06%, at 33,368.79. ET. Bausch Health, a specialty pharmaceutical firm, fell 4.1% following a quarter-end loss. Healthcare shares were down 1.8%. Wall Street's main indexes fell on Thursday. Heavyweight technology stocks dropped after recent gains. The TSX tech stocks fell by 1.4% after a strong session. Heavyweight Financials fell by 0.8% The TSX Energy Index gained the most, 2%. Oil prices reached a six-month high amid fears of...

Ivanhoe Mines is in advanced discussions with Congo's Gecamines state miner and Swiss commodities trader Mercuria about channeling zinc-rich concentrates from its giant Kipushi mining to the United States, under Washington's newly developed strategic stockpiling program Project Vault. The deal is part of a larger agreement between the U.S., and the Democratic Republic of Congo in the area of minerals. Washington is intensifying its battle with China for control of Africa's vast mineral deposits. Project Vault, a $12 billion supply chain security programme launched by the U.S. on Monday and backed by private capital of $1.67 billion and a U.S....

Four trade sources reported?on Tuesday that the independent Chinese refiner Chambroad Petrochemical had purchased one Canadian crude cargo for May delivery. This follows a decrease in Venezuelan crude supply to China. According to sources, the refiner is one of the biggest buyers of Venezuelan crude oil. It also imports Canadian oil from the Trans Mountain pipeline for its bitumen manufacturing. Chambroad bought Canadian Cold Lake Crude exported?from TMX for a discount of close to $5 per barril compared to the July ICE Brent contract, according to two people. The crude was to be delivered to the eastern Shandong Province in...

British Columbia's Premier David Eby, who is on a six-day Indian trip, said that the province wants to strengthen its?commercial relations with India, particularly in the areas of liquefied gas, critical minerals, lumber, and technology. Both countries want to rebuild their trade ties following a two-year freezing and diversify supply chains as a reaction to U.S. Tariffs. "Unjustified tariffs from U.S.?impacting B.C. Eby said in an interview that it was more important than ever for workers and businesses to develop strategic relationships with international counterparts. The dates for the Canadian Premier Mark Carney's visit, which will continue until Saturday, have...

According to Barclays, activist investors who want companies to improve their performance launched a record-breaking number of campaigns in 2025. Market volatility, favorable financing terms, and increased deal activity created the ideal environment for lobbying for change. Blue-chip activists including Elliott Investment Management and a large number of newcomers launched attacks in 2025 on global companies, urging them to improve operations, replace board members, or even sell themselves. Activists attacked well-known brands like athleisure brand Lululemon Athletica and ride-hailing service Lyft. PepsiCo, the maker of soda and snacks, and Yeti, a cooler and drinkware manufacturer, were also targeted. The data...

Imperial Oil Canada announced on Monday that it will increase its capital expenditure and upstream production by?2026. The company is doubling down on high-return oil sands projects in order to reduce costs?and create a stronger cash flow. Oil companies are focusing more on efficiency and high-return projects, and less on large new developments. In September, the oil producer said it would 'cut about 20% of its staff by end-2027. This is part of a restructuring which will reduce its Calgary presence amid lower 'crude prices due to higher OPEC+ production and trade policy uncertainties. "Our 2026 Plan builds on Imperial's...

Cenovus Energy, a Canadian company, forecast a higher crude oil production in 2026 due to the completion of major oil sands project. The company anticipates an upstream production of between 945,000 and 985,00 barrels of oil-equivalent per day (boepd), exceeding its forecast of 805,000 to 845,00 boepd for 2025. The producer said that it would spend C$850,000,000 on the newly acquired Christina Lake North assets acquired from MEG Energy. The Calgary-based company had previously?stated that its capital expenditure will fall to C$4 billion in the next year as major expansion projects are completed, excluding assets of its high-profile C$6 billion...

Ecopetrol, the state-run energy company in Colombia, announced on Friday that it had signed a new contract with Parex Resources to explore and produce hydrocarbons in the Piedemonte Llanero area. Ecopetrol said in a press release that operations will be conducted in areas covered by existing contracts within the departments of Boyaca e Casanare. DEAL DETAILS * This new agreement is in addition to the five other agreements Ecopetrol and Parex signed in December of 2024 for hydrocarbon exploration in two major Colombian basins. * The agreement includes drilling of the Florena-Huron well which is expected increase the domestic gas...

Mark Carney, the Prime Minister of Canada, said that Donald Trump had not discussed the idea of Canada paying an "entry fee" before a scheduled re-examination?of?the United States Mexico Canada trade agreement can begin. The three countries are expected to complete their work by the 1st of July, but tensions between the U.S. and Canada over tariffs imposed by Trump on 'key imports' from Canada last summer have complicated this schedule. The United States already has outlined the concessions that it expects 'Canada' to make, a move some commentators and domestic media say is similar to requiring an entry fee...

A spokesperson for Vicuna Corp said that police in Argentina's La Rioja province had blocked access to the?roadway leading a a copper megaproject?in the neighboring San Juan province citing a court order. The spokesperson for Vicuna Corp. said that the company, which is a joint venture between BHP Australia and Lundin Mining Canada, had not received official notification of the court order. According to the company, the project, which spans?the Argentina and Chile border, includes the Filo del Sol mine and Josemaria Mine, which 'together form the Vicuna District', one of the largest undeveloped copper, silver and gold deposits in...

Mexico's president Claudia Sheinbaum said on Monday that Mexico is interested in reaching an agreement, before completing the review the U.S. Mexico-Canada Trade Pact, concerning the exchange of automobiles, steel and aluminum. Sheinbaum addressed a press conference in the morning as U.S. trade representative Jamieson Greer visited Mexico for talks. Sheinbaum stated that "we care about steel, aluminum and automobiles." "We hope a preliminary agreement can be reached." Mexico exports mostly vehicles and auto parts as well as machines and mechanical equipment to the United States. The USMCA Review talks this year are 'critical' for Mexico. It has been spared...

The U.S. is hosting further discussions in the coming weeks for the Group 20 major economies about the impact of war in the Middle East on food and fertiliser, as they 'continue to push for coordinated actions. The U.S. will make this pledge in a statement by the chair of the G20. It will be made during a meeting between G20 finance minsters and central bankers held on April 16 at the Spring Meetings of the International Monetary Fund (IMF) and World Bank. Before its official release on Monday, a copy of the statement was released instead of a communiqué...

Chile will break from 'precedent' and host a panel on lithium at its annual global gathering of copper next week, in an effort to radically diversify its economy beyond the red metal which has been?powering it for decades. On Monday, the World Lithium Conference, organized by the International Lithium Association and the consultancy 'CRU', will launch what the copper industry calls CESCO Week. After months of stagnation, lithium prices have risen to levels not seen in two years as renewed interest in the metal is sparked by concerns about oil supplies in the Middle East. The lithium supply is tightening...

The firms have announced that a Canada-based advisory firm and a Zambian mid-tier copper miner will pilot a sustainability bond this year to integrate artisanal mining into formal supply chains. Globally, artisanal mining is a source of livelihood for millions. In Africa, it is often done informally near or on company-owned mines. This reduces their profits, spreads pollution, and robs nations of revenue. Rob Karpati said that the proposed "stakeholder prosperiy bond" developed by?Veridicor and Zambia's Metalex Commodities aims to remedy this, according to its finance director. He said that the model "professionalises" the artisanal miners instead of removing them...

KGL Resources, an Australian miner, announced on Thursday that it had entered into a $300-million precious metals streaming agreement with a unit of Canada’s Wheaton Precious Materials for a?part of the gold and silver produced at?its Jervois Copper project. KGL shares rose 61.9%, to A$0.340. This was their best day since the middle of 2014. Stocks also reached their highest levels since May 22, 2020. KGL announced that Wheaton Precious Metals will fund up to $275m in advance, with an option of $25m for cost overruns. The upfront funding includes two $16 million installments that are available before construction starts,...

BMW warns that it will not see any relief from the ongoing tariff costs in China and intense competition. The company warned on Thursday about a modest decline in its pre-tax earnings in 2026 and a stagnation of deliveries. BMW's rivals Volkswagen, Mercedes and Audi also reported a weaker 2025 due to trade barriers and falling China sales. They also made mistakes with electrification as the market demand for electric vehicles diverged in key markets. The outbreak of war in the Middle East has roiled nerves, fueling supply chain concerns and driving up fuel prices. It also threatens?demand, which is...

Futures linked to Canada's major stock index fell on Monday, as rising oil prices were a result of escalating tensions between the Middle East and North Africa. This increased inflation fears among investors. As of 6:50 a.m., March futures for the?S&P/TSX Composite Index were?down 0.92%. ET. Wall Street futures also fell sharply after the Middle East conflict. Geopolitical tensions increased after Iran named Mojtaba Khamenei as its supreme leader. He is the son of Ali Khamenei. This move was seen as proof that Tehran's hardliners are still firmly in control, especially with the conflict between the United States and Israel...

According to three sources who are familiar with the issue and a letter by an industry group, China, the U.S., and other Western governments have launched an unusually coordinated effort to convince Ghana to stop a gold royalty hike that they claim could hurt some of the world's largest miners. Africa's biggest gold producer is looking to replace its fixed royalty of 5% with a sliding rate between 5% and 12 % linked to gold prices. This is part of a bid to increase revenue as gold reaches successive historical highs. The upper bands in the new regime could come...

Futures for Canada’s main stock index fell on Tuesday as a global stocks slump deepened amid an?intensifying conflict in the Middle East. Meanwhile, prices of precious metals dropped on a stronger U.S. dollar. As of 5:36 a.m., March?futures for the S&P/TSX Composite Index were down 1.93%. ET. Investors became more concerned about inflation as a result of the increase in energy prices due to conflict in the Middle East. U.S.?S&P500 e-minis futures were down by 1.8% and Nasdaq100 E-minis dropped 2.3%. U.S. President Donald Trump sought Monday to justify an open-ended, broad war against?Iran while indicating that the goals and...

Hudbay Minerals announced on Monday that it would 'buy the shares in Arizona Sonoran Copper Company it doesn't already own for $1.48 Billion. The?Canadian mining company is expanding?its footprint?to?capitalize?on?the increasing demand for?the red metal. Hudbay Minerals shares listed in the U.S. fell by 1% before market. Copper, an important metal used in the construction and power industries, will benefit from a surge in demand due to electric vehicles and AI infrastructure. As countries around the world increase their efforts to reduce reliance on China, miners are consolidating. Anglo American announced a merger with?Teck Resources worth $53 billion in stock last...