Economic Indicators

High costs deter foreign banks’ India expansion

Goldman Sachs and Morgan Stanley have backed away from their aggressive pursuit of a full banking licence to operate in India, a decision that points to the growing cost of expanding business in India, reports FT.com. While Morgan Stanley has decided to withdraw its application for a commercial banking licence, Goldman Sachs, which also applied […]

By Staff |January 31, 2013

1 min read

Economic Indicators

Resource-rich provinces to drive auto growth

Canadian auto sales climbed 6% last year, and will edge up further in 2013, advancing to 1.69 million units, the second-highest level on record, says the Scotiabank Global Auto Report. While the resource-rich provinces of Alberta, Saskatchewan, Newfoundland and Labrador will continue to lead gains, volumes in the rest of Canada will remain 6% below […]

By Staff |January 30, 2013

1 min read

Economic Indicators

Board of Trade releases pre-budget proposal

The Board of Trade of Metropolitan Montreal is first to present recommendations for the upcoming budget.

By Staff |January 30, 2013

1 min read

Economic Indicators

Canada should hedge against commodity risk: CIBC

Canada’s resource-rich provinces should consider hedging against commodity risks, even if it means giving up part of the revenue windfall when prices are high, reports CIBC World Markets Inc. “Resources are called cyclicals for a reason, and provincial finance ministers are now acutely aware that a bountiful surplus can turn into a gaping deficit in […]

By Staff |January 29, 2013

3 min read

U.S. fiscal war could prove self-defeating

Signs are emerging that the ongoing budgetary tug of war between Obama and the Republicans will be protracted, the economic cost of which could be punishing in proportion. Last month’s fiscal cliff deal caused a budgetary contraction of about 1.5% of U.S. gross domestic product, most of which was due to the decision to let […]

By Staff |January 28, 2013

1 min read

WEF: Carney, Lagarde say recovery fragile and timid

Mark Carney, governor of the Bank of Canada and Christine Lagarde, managing director, International Monetary Fund (IMF), among others at the 43rd World Economic Forum Annual Meeting, have sounded a cautionary note about the fragile nature of the global economic recovery even if it faces fewer challenges this year, says a World Economic Forum news […]

By Staff |January 28, 2013

2 min read

As Apple sinks, will RIM rise?

For the most part U.S. earnings last week can be filed in the “good” column. A number of large cap names either met or beat analyst expectations: IBM, Google, McDonalds, United Technologies, Starbucks, 3M Co. and Procter & Gamble are just a few of the companies whose share prices climbed after releasing quarterly results.

By Gareth Watson |January 28, 2013

3 min read

Economic Indicators

High costs deter foreign banks’ India expansion

Resource-rich provinces to drive auto growth

Board of Trade releases pre-budget proposal

Canada should hedge against commodity risk: CIBC

Canada should pursue global markets: Scotiabank

India pushes for growth

U.S. fiscal war could prove self-defeating

WEF: Carney, Lagarde say recovery fragile and timid

As Apple sinks, will RIM rise?

Faceoff: Bubble trouble