Keyword
economy
$5.3 billion to be re-invested in Alberta economy over three years to rebuild Fort McMurray: Conference Board of Canada report
November 15, 2016 by Canadian UnderwriterAbout $5.3 billion will be re-invested in Alberta’s economy over the next three years to rebuild Fort McMurray following the massive wildfire in May, according to a new Conference Board of Canada report on the economic impacts of Canada’s most costliest natural…
Fort McMurray will hit Canadian’s p&c industry financial results in 2016: A.M. Best
November 9, 2016 by Canadian UnderwriterCurrent-year financial results for Canada’s property and casualty industry – which were once again strong in 2015 – are expected to take a hit in the wake of the Fort McMurray wildfire loss, notes a new report from A.M. Best.…
Low oil prices a double-edged sword for Canadian economy: KPMG seminar speaker
October 24, 2016 Jason Contant, Online EditorLow oil prices continue to present a major challenge for the Canadian economy, but they could be viewed as a “positive shock” for some jurisdictions and the economy of the United States, a speaker suggested on Monday at KPMG’s annual…
Bank of Canada maintains interest rate at 0.5%
October 19, 2016 by Canadian UnderwriterThe Bank of Canada announced on Wednesday that it is maintaining its interest rate target at 0.5%, while downgrading its growth outlook for the country. The central bank expects Canada’s real gross domestic product (GDP) to grow by 1.1% in…
Canada fourth largest cyber security hub in world, Ontario has potential to assume leading role
October 19, 2016 by Canadian UnderwriterMore investment and co-ordination is needed if Ontario – which offers strengths in financial services and technology – is to realize its potential to assume a more dominant leadership role in cyber security, notes a new report issued Thursday. Commissioned…
Business interruption payouts should be based on historic results even in post-disaster economy: AEIC speaker
October 11, 2016 by Angela StelmakowichThe Fort McMurray wildfire will likely raise questions about the basis for business interruption (BI) insurance payouts in a post-catastrophe economy, but historic results are the best indication of what otherwise would have occurred, Emily Stock argued during the 43rd…
Bank of Canada raises concerns about economy, holds interest rate at 0.5%
September 7, 2016 Craig Wong - THE CANADIAN PRESSOTTAWA – The Bank of Canada struck a note of caution Wednesday as it held its key interest rate target steady at 0.5 per cent and raised concerns after the export sector disappointed earlier this year. “While the strength in…
Canadian banks shake off oilpatch fears, report better than expected earnings
August 26, 2016 Alexandra Posadzki - THE CANADIAN PRESSTORONTO – Panic about how the oil price shock could affect the banks’ bottom lines has subsided, as several of the country’s largest financial institutions reported better-than-expected third-quarter results. CIBC (TSX:CM) reported that its quarterly profit climbed nearly 50 per…
Impact of Fort Mac wildfire adds to Alberta’s economic challenges, increases deficit: province
August 24, 2016 by Angela StelmakowichCosts associated with the wildfire that ravaged parts of Alberta’s Wood Buffalo region this past May, coupled with the impact of ongoing low oil prices, has set the provincial government on a continuing cautious course to its finances. “In the…
Alberta fires torch economy, biggest monthly GDP decline in more than 7 years
July 31, 2016 Andy Blatchford - THE CANADIAN PRESSOTTAWA – The Alberta wildfires torched the Canadian economy in May, driving the country into its worst one-month performance since the darkest days of the Great Recession. On Friday, Statistics Canada’s latest reading for real gross domestic product showed a…
Fed leaves rates unchanged; no hint on timing of next hike
June 15, 2016 Martin Crutsinger - THE ASSOCIATED PRESSWASHINGTON – The Federal Reserve is keeping interest rates unchanged in light of an uncertain job market and offering no hints of when its next rate hike might occur. The Fed noted in a statement Wednesday after its latest policy…
Some rogue fishing vessels able to get insurance, research from University of British Columbia finds
June 7, 2016 by Canadian UnderwriterRogue fishing vessels, including those flagged by international watchdogs for unlawful activity, have been able to secure insurance, according to new research from the University of British Columbia (UBC). The study, titled Cutting a lifeline to maritime crime: marine insurance…