46 h. ago Russia cuts interest rate to 17% as strains show in wartime economy

Russia’s central bank cut its benchmark interest rate Friday by one percentage point to 17%, a step that could support the economy as growth slows and spending on the war against Ukraine increases the budget deficit. The bank had raised its key rate as high as 21% to combat inflation, but has begun to retreat […]

Culture

61 h. ago Varcoe: 'It's a start' — LNG project makes federal list, but Alberta and industry still hoping for oil pipeline

'They're saying the right things, they're making some of the right moves, but we need to see action'

Culture

4 d. ago Varcoe: Expansive new projects have Alberta's aviation ambitions ready for takeoff

De Havilland facility in Wheatland County east of Calgary just one of several poised to bolster sector's growth

Transport

4 d. ago Varcoe: New projects have Alberta's aviation hub ambitions flying high

De Havilland facility in Wheatland County east of Calgary just one of several poised to bolster sector's growth

Transport

1 week ago Graphic of the week: Alberta's budget deficit and middling oil prices

Deficit is now expected to reach $6.5 billion, which is $1.3 billion more than budgeted in the spring

Economics

1 week ago Oil Drifts as Traders Wait for OPEC+ and Next US Move on Russia

Oil drifted as traders waited for fresh catalysts to move prices out of what’s been a relatively narrow band, with attention on an upcoming OPEC+ meeting and US moves on Russian supplies.

Economics

1 week ago Oil Drifts Higher With OPEC+ and US Policy on Russia in Focus

Oil drifted higher as traders waited for fresh catalysts to move prices out of what’s been a relatively narrow band, with attention on an upcoming OPEC+ meeting and US moves on Russian supplies.

Events

1 week ago Oil Drifts Higher With Focus on OPEC+ and US Policy on Russia

Oil drifted higher as traders waited for fresh catalysts to move prices out of what’s been a relatively narrow band, with attention on an upcoming OPEC+ meeting and US moves on Russian supplies.

Events

2 w. ago HILL: Alberta’s fiscal update — and $6.5B deficit — underscores need for spending reductions

Alberta has a long history of enjoying budget surpluses when resource revenue is high, but inevitably falls back into deficits when resource revenue declines.

Economics

2 w. ago Alberta projecting larger deficit for the year — $6.5B — due in part to lower oil prices

'We know the road ahead has its challenges, but with disciplined financial management and smart investments, we will stand by families, rein in the deficit and secure a stronger future'

Economics

2 w. ago Alberta budget deficit forecast to grow more than originally forecast this year to $6.5B

Bad news for Alberta taxpayers with the province's finance minister saying lower than forecast oil prices means the projected deficit this year is expected to grow to $6.5 billion.

Economics

2 w. ago Varcoe: Alberta's deficit grows to $6.5B amid lower oil prices, falling revenues

One year ago, the province recorded an $8.3-billion surplus on the strength of higher-than-expected oil prices, strong population growth and a surging economy.

Economics

2 w. ago Saskatchewan’s deficit could increase due to industrial carbon tax

Saskatchewan's $349 million deficit could grow to roughly $800 million depending on the industrial carbon tax.

Economics

2 w. ago Varcoe: What's the future for nuclear energy in Alberta? Capital Power and OPG study says small reactors ‘right fit’ for province

Study 'reinforces our conviction that SMRs have significant potential for generationally impactful economic and social benefits' says blog post

Economics

3 w. ago Each Canadian will pay a shocking amount this year to cover interest on nation's debt

The interest alone on the Government of Canada's debt will cost each Canadian thousands of dollars this year, according to a new study.Public policy think tank The Fraser Institute found that the combined debt interest payments for both the federal and provincial governments in Canada will cost $92.5 billion in 2024/2025. That's between $1,937 and $3,432 per Canadian, depending on the province.This comes as governments in Canada have trended towards deficit spending and growing government debt in recent years."Interest must be paid on government debt, and the more money governments spend on interest payments, the less money is available for the programs and services that matter to Canadians," said Jake Fuss, director of fiscal studies at the Fraser Institute and co-author of the study.According to the report, Ottawa will spend $53.8 billion on debt servicing charges in 2024/2025, which is significantly more than what the government expects to spend o...

Economics

3 w. ago Varcoe: Alberta premier says Canada's EV tariff should be 'reconsidered' amid canola trade dispute with China

"With canola in particular, we also know that it's retaliation for the 100 per cent EV tax. And it seems to me that the federal government needs to work on that," said Danielle Smith

Economics

3 w. ago Varcoe: Premier Danielle Smith says Alberta canola farmers will need federal help, as Ottawa assists other sectors facing tariffs

"With canola in particular, we also know that it's retaliation for the 100 per cent EV tax. And it seems to me that the federal government needs to work on that," said Danielle Smith

Economics

3 w. ago Varcoe: 'Terrible' oil prices could create a difficult budget crunch for Alberta, premier warns

Oil prices have been “terrible” recently and Albertans need to brace for a difficult budget situation if they continue to slide, says Premier Danielle Smith.  The price of benchmark U.S. West Texas Intermediate (WTI) crude has dropped nearly 10 per cent since late July, closing below US$63 a barrel on Monday – nearly $5 below […]

Economics

3 w. ago Varcoe: 'Terrible' oil prices could create a budget crunch for Alberta, Premier Danielle Smith warns

WTI crude has dropped nearly 10% since late July and now sits nearly $5 below the province’s expectations in its latest budget

Economics

3 w. ago Varcoe: 'People better brace themselves' as oil prices strain budget, Danielle Smith warns

WTI crude has dropped nearly 10% since late July and now sits nearly $5 below the province’s expectations in its latest budget

Economics