Economy

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

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

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

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