(NAIROBI, KENYA) – Kenya and the International Monetary Fund have restarted discussions on a new lending programme. The arrangement is expected to provide fresh loans but will also bring difficult conditions for taxpayers. The Central Bank of Kenya said on Wednesday that an IMF team will visit Nairobi soon. TheContinue Reading
(MONTREAL, CANADA) – Metro’s third quarter profit fell 35% as a strike at its only produce distribution centre in Quebec entered its fifth month, costing the grocery and pharmacy retailer an estimated C$90 million in lost profit and direct costs. Metro reported net profit of C$211.3 million, about US$151.1 millionContinue Reading
(MONTREAL, CANADA) – Air Canada shares rose sharply on Wednesday after the country’s largest airline agreed to sell a 25% stake in its Aeroplan loyalty programme to Blackstone and a group of Canadian pension funds for C$2.5 billion, giving the carrier a major cash injection as high fuel costs areContinue Reading
(THUNDER BAY, ONTARIO) – Ontario’s lithium industry is moving towards a potential first mine, with Rock Tech Lithium targeting initial production from its Georgia Lake project in northwestern Ontario in about two years as several companies compete to develop the province’s largely untapped resources. Rock Tech is seeking to advanceContinue Reading
(QUEBEC, CANADA) – Quebec is sharply increasing minimum environmental fines for some of its highest risk industrial activities, with penalties for certain offences rising tenfold under changes to the province’s environmental laws. The move will affect major sectors including battery manufacturing, oil refining, pulp and paper, mining, aluminium production, foundries,Continue Reading
QUEBEC, CANADA) – Amid a housing crisis, C$37 million (about US$26.6 million / £19.6 million / €22.9 million) intended to help tenants under the Rent Supplement Programme (PSL) remains unspent in Quebec government coffers. Community groups and private landlords criticise poor management of the funds even as the programme wasContinue Reading
(LANAUDIÈRE, QUEBEC, CANADA) – A section of Quebec’s Autoroute 40 has been closed westbound near Saint Cuthbert after a cavity was found beneath the road, forcing authorities to divert traffic and prepare a temporary traffic arrangement on the opposite carriageway. The affected section, about 60 kilometres from Montreal, was closedContinue Reading
(HALIFAX, CANADA) – Canada is providing C$34 million (about US$24.4 million or £21.1 million) for 141 projects aimed at helping 128 communities across the country prepare for the effects of climate change. The federal funding will support measures including protection against extreme heat and flooding, with projects spread across severalContinue Reading
(KYIV, UKRAINE) – Ukraine halted a campaign of drone strikes against oil tankers using a major Black Sea port after a direct request from US Vice President J.D. Vance, who warned that the attacks risked destabilising global oil markets and harming American energy companies. The request was made during aContinue Reading
(KYIV, UKRAINE) – The National Bank of Ukraine set the official exchange rate of the hryvnia against the US dollar at UAH 44.86 per dollar on 12 August, a slight weakening of 3 kopiyok from the previous day, while the euro edged lower. The official rate for the euro wasContinue Reading
