OTTAWA, Oct 30 (Reuters) - The Canada government’s fiscal update will offer targeted aid to sectors hard hit by the coronavirus epidemic when it is unveiled later this year, Finance Minister Chrystia Freeland said on Friday. This could induce the Federal Reserve to increase interest rates faster than markets expect, potentially stifling economic activity in the U.S., with negative implications for an open, trading economy like Canada. Assent Compliance, an Ottawa-based software firm, raised $130 million from a global private equity firm to continue its global expansion. At the same time, Canada’s share of goods exports going to emerging economies is by far the lowest among its peers, reflecting our close trading relationship with the U.S., as well as intense and growing global competition for growth opportunities abroad. Our Standards: The Thomson Reuters Trust Principles. As well, not only is shipping crude oil by rail costlier than shipping by pipeline, it also poses a higher risk of spills and raises concerns about oil competing for rail capacity with other commodities produced in Western Canada. In addition to providing government revenues to help fund transfers and programs that benefit all Canadians, the sector also provides important economic opportunities for Canada’s Indigenous communities. Canada’s economy continues to show solid growth. Since the end of 2015, economic growth has averaged almost 2½ per cent, putting Canada among the leaders for the strongest pace of growth in the Group of Seven (G7) (Chart 1.1). The results would leave the level of nominal GDP at $2,158 billion for 2020, or about $231 billion lower than projected in the 2019 Economic and Fiscal Update. This widespread growth has helped create the best job market in advanced economies in 40 years, with the unemployment rate in Organisation for Economic Co-operation and Development (OECD) countries at a level unseen since 1980 (Chart 1.8). There can be no doubt the Department of Finance is preparing internal economic and fiscal projections and is … Canada Goose, a maker of iconic winter coats, recently announced the opening of its third clothing manufacturing facility in Winnipeg, Manitoba. For example, pipeline transportation constraints in Western Canada mean that an increasing amount of Canadian oil is being transported by rail. The Canada Emergency Business Account has helped 688,000 small businesses stay afloat. Together, we all play an important role in getting through this. Most importantly, the number of households taking on mortgages that will make them highly indebted (i.e., loan-to-income ratios above 450 per cent) has declined (Chart 1.7). Freeland made her comments during a question and answer session with Montreal’s chamber of commerce. Sources: United Nations Comtrade database; International Monetary Fund. Source: Statistics Canada. The Canadian economy has rebounded strongly since the end of 2015. The Canada government's fiscal update will offer targeted aid to sectors hard hit by the coronavirus epidemic when it is unveiled later this year, Finance Minister Chrystia Freeland said on Friday. See here for a complete list of exchanges and delays. The last data point for crude oil exports by rail is August 2018 and the last data point for the Canadian crude oil discount is the week ending November 9, 2018.
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