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oil prices

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Bank of Canada raises interest rate to 0.75% from 0.5%

July 13, 2017 by Canadian Underwriter

The Bank of Canada announced on Wednesday that it has raised its interest rate for the first time in seven years, to 0.75% from 0.5%. “Recent data have bolstered the Bank’s confidence in its outlook for above-potential growth and the

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Bank of Canada expected to raise its key rate for first time in nearly seven years

July 11, 2017 Craig Wong - THE CANADIAN PRESS

OTTAWA – The Bank of Canada is expected to raise its key interest rate target for the first time in nearly seven years on Wednesday following signs the economy is well on the road to recovery after the crash in

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Canadian auto sales to edge down in 2017: Scotiabank

February 7, 2017 by Canadian Underwriter

Canadian auto sales are expected to edge down to 1.94 million units in 2017, coming off four consecutive record years, according to the Scotiabank Global Auto Report, released on Tuesday. Despite the beginning of a sales recovery in the resource-rich

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Global economy to post best performance in three years, Canadian growth to accelerate over next two years: Scotiabank

January 17, 2017 by Canadian Underwriter

The global economy is projected to post its best performance this year since 2014, while growth in Canada in expected to accelerate over the next two years, according to Scotiabank’s Global Outlook, published on Tuesday. While geopolitical risks abound, recent

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Carbon price won’t be deciding factor for oilsands development: report

November 23, 2016 Ian Bickis - THE CANADIAN PRESS

CALGARY – Alberta’s incoming carbon taxes will have a minimal effect on new oilsands development compared with oil prices and market access, says a new report. TD Bank economist Dina Ignjatovic said in the paper released Tuesday that if oil

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Gloomy outlook for offshore energy insurance sector: IUMI

September 21, 2016 by Canadian Underwriter

The offshore energy sector is facing a series of significant challenges in the wake of a falling premium base and increased volatility, cautions the chairman of the International Union of Marine Insurance’s (IUMI) offshore energy committee. “We have not witnessed

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Canadian banks shake off oilpatch fears, report better than expected earnings

August 26, 2016 Alexandra Posadzki - THE CANADIAN PRESS

TORONTO – 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

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Higher prices from Fort McMurray wildfire to boost Q2 energy company results

July 21, 2016 Dan Healing - THE CANADIAN PRESS

CALGARY – Analysts predict oil prices driven higher by production stoppages during the Fort McMurray, Alta., wildfires in May will bolster the bottom lines of Canadian oil and gas companies as they report financial results starting this week. Western Canada