Tausi Insider

Canada’s exports rose in October, largely driven by pharmaceutical products, while imports were also up, largely as a result of a depreciation of the Canadian dollar, data showed on Tuesday. The country’s trade surplus with the world grew to $1.21-billion in October, Statistics Canada said, slightly above analysts’ forecasts of a surplus of $1.20-billion. Exports rose 1.5 per cent, helped by higher exports of medicinal products as well as gold bars and coins to the United States, Statscan said. By volume, exports were up 0.1 per cent. Imports rose 0.6 per cent, but were down 0.9 per cent by volume. Motor vehicles and parts as well as metal and non-metallic mineral products drove the gains, while imports of energy products also increased, bolstered by incoming U.S. crude oil. “Canada’s merchandise trade surplus widened in October, with a weaker Canadian dollar providing a helping hand. Still, trade volumes look to have added to growth in the month,” said Shelly Kaushik, an economist a...

Doug Slater, FortisBC vice-president of external and Indigenous relations, poses for a photograph at the company's Tilbury LNG facility in Delta, B.C., on Dec. 19, 2022. DARRYL DYCK/Tausi Insider An industrial site in British Columbia has emerged as a battleground over whether governments that have pledged to fight climate change should approve new projects to export liquefied natural gas. The Tilbury Pacific Marine Jetty project is seeking permission to build a new two-berth dock for Tilbury Island in the Vancouver suburb of Delta. Environmental groups say pending decisions by cabinet ministers on the Delta jetty proposal will be an important indicator of whether there is a political appetite in Canada for exporting LNG, given the B.C. and federal governments’ commitments to net-zero emissions of greenhouse gases by 2050. Supporters of exports say Canada is positioned to help bolster global supplies of the fuel, especially from the West Coast to Asia, noting that worldwide deman...

Britain’s Royal Mail said on Wednesday it had begun moving limited volumes of export parcels as it trials “operational workarounds”, after a cyber incident severely disrupted its international export services last week. The postal company, part of International Distributions Services Plc, said it had also resumed exports of letters and from 1900 GMT customers could begin submitting international export letters to its network. However it said that while it trials the workarounds, it was continuing to ask customers not to submit new export parcels. Import operations and domestic services remain unaffected. “Our initial focus will be to clear mail that has already been processed and is waiting to be despatched,” Royal Mail said in a statement. Royal Mail, one of the world’s largest post and parcel firms, said it was still working with external experts, security authorities and regulators to mitigate the impact of the incident. The Telegraph newspaper reported last week that Lockbit, a r...