ICD exploring opportunities for collaboration in Azerbaijan during pandemic and after (INTERVIEW)

Trend’s exclusive interview with Ayman Amin Sejiny, the CEO of the Islamic Corporation for the Development of the private sector (ICD). BAKU, Azerbaijan, Sept. 28 By Nargiz Sadikhova – Trend: Since the COVID-19 outbreak, many international organizations had to operatively react to the changes and make changes to the usual ways of cooperating and offering […]

CMHC, worried about excessive household debt, wanted tighter mortgage rules for competitors

Article content continued Siddall declined to elaborate on his conversations with government officials about an industry-wide tightening that also would have included CMHC competitors Genworth MI Canada Inc. and Canada Guaranty Mortgage Insurance Co. Discussions between the CEO of CMHC and the minister of finance must be kept confidential, he said. “I’m not saying whether […]

Another old-economy trade fight with Trump looms, but services matter much more than aluminum

Article content continued All the momentum in trade is in services, which represented 24 per cent of total trade in 2019, compared with 19 per cent in 1995, according to a report published this week by Western Union Business Solutions and Oxford Economics. Those numbers are based on official statistics, which tend to undervalue services […]

‘Very discouraging’: Mexican business sentiment muted as USMCA launches under a cloud

A new trade pact between the U.S., Mexico and Canada begins on Wednesday with the top U.S. negotiator threatening litigation, investor distrust rife and supply chains tested by the COVID-19 pandemic. While U.S. president Donald Trump and his Mexican counterpart Andrés Manuel López Obrador plan to toast the USMCA at the White House, probably after […]

Walmart Pledges $100 Million to Fight ‘Systemic Racism’

Walmart CEO Doug McMillon on Friday condemned “racial violence” and pledged $100 million to “address systematic racism in society head-on and accelerate change.” In an email sent to employees, McMillon embraced the worldview of the radical left and pledge to fund its goals. “The global health crisis has tested all of us in recent months, […]

Ottawa wants equity option from public companies borrowing through new loan program for big businesses

The federal government wants the option to take equity in publicly traded companies that tap into its new loan program for big business, The Logic has learned. On Monday, Finance Minister Bill Morneau announced the Large Employer Emergency Financing Facility (LEEFF), through which Ottawa will give credit of $60 million or more to firms with […]

Nearly 10,000 businesses apply for wage subsidy in first hours, Trudeau says

OTTAWA — Prime Minister Justin Trudeau says nearly 10,000 businesses have applied for the federal government’s wage-subsidy program to help them deal with the COVID-19 pandemic. The emergency measure will cover 75 per cent of wages for employers that have seen sharp declines in revenue since the novel coronavirus hit Canada hard in March, up […]

Opinion: The world must adopt a simple COVID-19 test, and economists know it

A famous joke about economists has a physicist, a chemist and an economist stranded on a desert island with but a single can of beans to eat and no way to open it. The physicist sets about calculating the right angle at which to throw rocks at the can so as to pierce its top. […]

Canadian heavy oil cheaper than a pint of beer as North American demand for fuel plummets

CALGARY – As commuters stay home and lockdown orders spread across the U.S., the price of Canadian heavy oil has collapsed. Western Canadian Select heavy oil price benchmark fell 30.5 per cent on Thursday to US$6.45 per barrel, which analysts joke is less than a pint of beer. U.S. crude prices fell 7.7 per cent […]