Enbridge Inc. (ENB), Canada’s largest oil- pipeline operator, agreed to buy a 50 percent stake in an EDF EN Canada Inc. Quebec wind farm for C$170 million ($172 million.)
The Massif du Sud project, consisting of 75 turbines, is expected to be completed by the end of this month and will generate enough power for 35,000 homes, Calgary-based Enbridge said in astatement today.
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PetroChina agreed to pay Encana C$1.18 billion (US$1.2 billion) for a 49.9 per cent stake in an Alberta shale formation as Asia’s biggest oil producer steps up acquisitions of overseas oil and gas assets.
PetroChina will also pay C$1 billion over four years to fund development of the project, Encana said in a statement. The accord follows Beijing-based PetroChina’s purchase this week of a US$1.63 billion stake in the Browse liquefied natural gas venture in Australia.
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OTTAWA, Dec. 13, 2012 /CNW/ – Canada’s chemistry sector is projecting strong investment growth for 2013, according to the 2012 Year-End Survey of Business Conditions, released today by the Chemistry Industry Association of Canada (CIAC).
In the report, CIAC members estimate that their capital investments will rise some 60 per cent – to $2.7 billion – in 2013, as a result of Canada’s reduced corporate tax rates, positive policy environment and access to competitively priced raw materials, such as shale gas.
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Research In Motion Ltd. said the BlackBerry 10, the new smartphone lineup intended to revive its fortunes, is about to begin testing at more than 120 U.S. companies, including 64 members of the Fortune 500.
So-called beta testing of the new BlackBerry 10 touch- screen model and related enterprise software will start today, said Richard Piasentin, managing director of RIM’s U.S. business. RIM is picking up the costs of the trials, which are focused on the touch-screen model, a design that’s less familiar to many corporate customers than the traditional Qwerty keyboard version, he said.
“We’re keenly targeting the launch of our touch-screen device and we want to bring that experience to our clients,” Piasentin said in an interview. While the tests stop short of being actual orders, “these clients have agreed to implement the full solution into their infrastructure,” which shows their level of commitment, he said.
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Hong Kong, April 12-17, 2013 > The Canadian Trade Commissioner Service in Hong Kong and Macao, in partnership with the Hong Kong Trade Development Council and the Hong Kong Economic Trade Office in Canada, would like to invite Canadian companies to join the Canadian ICT Partnering Mission to Hong Kong.
The main objective of this mission is to assist Canadian ICT companies to diversify their business into Hong Kong, mainland China and the Asian market.
Participating companies will have the opportunity to exhibit in the Canadian pavilion at the International ICT Expo, to be held at the Hong Kong Convention and Exhibition Centre, and join the value-added business programme arranged by the Canadian Trade Commissioner Service in Hong Kong and Macao.
For participation, download the information sheet and the application form.
For more information, contact:
Eunice Wong
Trade Commissioner
Canadian Trade Commissioner Service in Hong Kong
Tel.: (852) 2867 7388
The Hong Kong government said it would raise the minimum wage by 7 per cent in May next year as it tries to allay concerns about a growing disparity between the rich and the poor in the city.
The lowest salaries will rise to HK$30 (US$3.90) an hour, the government said on Wednesday, affecting about 10 per cent of the city’s workforce – some 330,000 workers. The statutory minimum wage was put in place in May 2011, despite opposition from the business sector in the laisser-faire city.
The government headed by chief executive Chun-ying Leung, who assumed office in July, had signaled that it was willing to intervene more in the city’s economy, which has the highest income disparity in the developed world and where property prices have spiraled out of reach of many first-time buyers.
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Toronto, December 13, 2012 – As the global economy is plowing through challenges and uncertainties still lingering from the last recession, Canadian commercial real estate investors are optimistic about market conditions, yet somewhat cautious about taking on more risk, according to Colliers International’s 2012 Global Investor Sentiment Survey. Although the Investor Sentiment Index rises to 104.1 points over the five-year time frame, which indicates a positive stance, less than half (45%) of respondents said they are likely or highly likely to move up the risk curve to reap better yields. This risk tolerance level is lower than the one expressed by investors last year when nearly two-thirds (64%) of Canadian investors were willing to take on more risk.
This somewhat conservative mindset to risk is also reflected in investors’ views on returns as 58% of Canadian respondents target their Internal Rate of Return (IRR) below 10%. Nevertheless, Canadian investors have not lost their appetite for deal-making with an overwhelming majority (78%) confirming plans to expand their portfolios in the near future.
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Bank of Nova Scotia (BNS-T 56.88 0.38 0.67%) capped off the fourth-quarter earnings season for Canadian banks with a slightly stronger-than-expected 31 percent profit gain on Friday, as strong wholesale banking income made up for more sluggish international growth.
Following the trend of most of its peers this quarter, profit gains were driven by trading and investment banking income, while domestic loan growth was steady despite worries that a cooling housing market will dry up demand.
The bank, Canada’s third-largest, earned $1.52 billion or $1.18 a share, in the fiscal fourth quarter ended October 31. That compared with a year-before profit of $1.16 billion, or 97 cents a share.
To read the full story, please click hereAccording to Ernst & Young’s annual global information security survey, Fighting to close the gap, 21% of Canadian businesses surveyed reported seeing more IT security incidents in the last year. The study also finds that Canadian companies are lagging behind most other countries in security innovation, with little more than 5% of spending invested in new technologies and management processes targeting information security over the last 12 months.
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