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Business

Liberals attack Harper’s economic record ahead of election call

The economy contracted 0.2 per cent in May, Statistics Canada announced on Friday, marking the fifth consecutive month of decline. It also showed a surprise drop in manufacturing of 1.7 per cent. But most economists agree brighter times are around the corner, with the economy moving past the negative effects of a host of temporary factors, ranging from bad weather ...

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Harper: Keystone XL will be built with or without Obama

At an interview with Bloomberg television last Wednesday (July 29), Prime Minister Stephen Harper has voiced his frustration over Barack Obama’s failure to approve the Keystone XL pipeline and said the President is ignoring U.S. public opinion and the advice of his own officials. The interview was conducted shortly after a Republican lawmaker declared that he’d heard from his sources ...

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Canada’s largest solar project is officially operational

SunMine, the 1.05 MW (megawatt) solar project, B.C.’s first grid-connected solar facility located in the City of Kimberley, was pronounced (July 29) as commercially operational. This is Canada’s largest project to use solar trackers. SunMine consists of 4,032 solar-cell modules mounted on 96 trackers which follow the suns movement, thereby maximizing solar exposure. The German-engineered trackers provide as much as ...

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Canada and Israel signed an improved and expanded Free Trade Agreement

Canada and Israel announced (July 21) the renewal and expansion of the Canada-Israel Free Trade Agreement (CIFTA), which was established in 1997 as the first bilateral trade agreement in Canada’s history. The modernized CIFTA will notably provide expanded market access opportunities for agricultural, fish and seafood products through the reduction or elimination of Israeli tariffs on a large number of ...

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Poloz: weak economic performance lead to lowering overnight rate

The Bank of Canada lowered (July 15) its target for the overnight rate by one-quarter of one percentage point to 1/2 per cent. The Bank’s Governor, Stephen Poloz, said in a media briefing that three factors were behind this downgrade: Canadian oil producers have lowered their long-term outlook for global oil prices, and have cut their plans for investment spending ...

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Unemployment rate unchanged

Statistics Canada reported (July 10) that the employment data was virtually unchanged in June (-6,400 or 0.0%), as gains in full-time work were offset by losses in part time and the unemployment rate held steady at 6.8% for the fifth consecutive month. Following gains of 63,000 (+0.4%) in the first quarter of 2015, employment grew by 33,000 (+0.2%) in the ...

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