The company’s Fort Hills project continues to ramp up ahead of schedule
Calgary-based energy giant Suncor had net earnings of $972 million in the second quarter, up from $435 million for the same period in 2017. “Suncor generated the strongest second quarter cash flow on record, with funds from operations of $2.9 billion and operating earnings of $1.2 billion,” said Steve Williams, president and chief executive officer,…
Alberta Premier Rachel Notley explains why and how the province can have both a diversified economy and a strong energy sector
Rachel Notley is premier of Alberta. Calgary’s Business: What’s your overall sense of Alberta's economy and where it's at today and more importantly where it’s headed in the future? Notley: We know things are looking up. You may have heard the jobs numbers before: 90,000 full-time jobs created last year, mostly in the private sector.…
'Entrepreneurship is inherently risky and higher personal income taxes decrease the potential income (and reward) for entrepreneurs'
A report by the Fraser Institute says Alberta’s personal income tax rate hike may prevent 1,374 new businesses from starting in the province. “Recent tax hikes by the Alberta government are discouraging entrepreneurs from starting new businesses, which are vital for economic growth and prosperity and drive innovation,” said Charles Lammam, director of fiscal studies…
But 2000 more positions were created in Alberta in June, to a total of 33,600 year-over-year
Alberta’s unemployment rate jumped to 6.5 per cent in June, according to Statistics Canada. The federal agency reported on Friday that the rate was up from 6.2 per cent the previous month. However, the number of jobs in the province moved in a positive direction as 2000 positions were created month-over-month and 33,600 year-over-year. Nationally,…
The latest forecast from Deloitte cites increased OPEC output and slipping international demand for oil
Global oil prices are expected to recede in the coming months after reaching their highest values since 2014. The latest forecast from Deloitte’s Resource Evaluation and Advisory group says that as Organization of Petroleum Exporting Countries (OPEC) increase output and international demand for oil declines in the second half of the year, prices will fall. The…
Gathering and processing operations in Alberta and B.C. sold to Brookfield Infrastructure and partners
Calgary-based Enbridge is selling its Canadian natural gas gathering and processing business in the Montney, Peace River Arch, Horn River and Liard basins in British Columbia and Alberta. Brookfield Infrastructure and its institutional partners are acquiring the assets for $4.31 billion. The deal is subject to customary closing adjustments and receipt of regulatory approvals, said…
Across the country, manufacturing orders are climbing, infrastructure spending continues and investment is recovering, report says
Alberta will be a leader in national economic growth this year and next, according to a report by Scotiabank Economics. The report said Alberta’s economy will grow by 2.4 per cent this year, followed by 2.5 per cent growth in 2019. That follows a 4.9 per cent increase for the province in 2017. Alberta’s level…
The suspect was later located at a local hospital where he received treatment for injuries suffered during the confrontation with the resident
On June 10, at approximately 10:35 p.m., Kindersley RCMP were called to a break, enter and assault at a residence located in a business yard, north of Kindersley. Upon arrival, police learned that an adult male had entered the residence where he was confronted by a resident of the house. The suspect had left the…
Journey took them through Red Deer, Golden, Kamloops, Seattle, Chilliwack, Penticton and Banff, and included an award-winning performance
Kevin McBain of The Clarion On the morning of Thursday, May 17, 2018, members of the KCS band, all 103 of them, along with 24 adults and three bus drivers began their Journey Through Music Tour – the Swan Song. Their once-every-four-year journey took them through Red Deer, Golden, Kamloops, Seattle, Chilliwack, Penticton and Banff.…
StatsCan says production of crude oil and equivalent products in Canada rose 4.1 per cent in November, year over year
Production of crude oil and equivalent products in Canada rose 4.1 per cent in November from a year ago, according to a report released on Friday by Statistics Canada. The total national output was 21.5 million cubic metres or 135.3 million barrels. “Alberta produced 17.4 million cubic metres of crude oil and equivalent products in November, up 4.5 per cent…
Barclay Street Real Estate says the number of sales were up in 2017 and there were ‘significant shifts in investor focus
Transactions in Calgary's commercial real estate sector reached $2.35 billion in 2017, slightly down from the previous year. But the number of investment sales grew by 25 per cent, according to a new report by Barclay Street Real Estate. Total dollar volume in 2016 was $2.63 billion. In 2017, there were 381 sales compared with…
Employment in Alberta grew by 55,000 jobs last year. ATB Financial says manufacturing led the way with 18,000 new jobs
(Published on January 30, 2018) Some great job growth analysis related to Alberta in 2017 was released on Jan. 8 by ATB Financial's economics and research team. The province's unemployment rate was down to 6.9 per cent at the end of the year, the lowest it has been since late 2015, when the full impact of…
An average of 383,300 Albertans said they were self-employment last year. This translates into about 17 per cent of all jobs in the province
(Published on January 30, 2018)A report released by ATB Financial's economics and research team on Jan. 30 says the number of Albertans who identify as self-employed stayed roughly the same throughout the recent recession and has remained consistent during the recovery. According to Statistics Canada, an average of 383,300 Albertans said their main job took the…
Monetarism’s failings are giving rise to the new economy of wellbeing
The world is changing. And while many of these changes are obvious, such as the revolution in technology or the tectonic shifts in world politics, there are also significant changes taking place in the ideas that underpin the science of economics. Why do these ideas matter? They matter because economics is a foundational science. The…