Newfoundland and Labrador’s unemployment rate rose to 9.3 per cent in July, up 1.1 percentage points from June, according to new figures from Statistics Canada. The increase came as Canada’s unemployment rate moved in the opposite direction, falling 0.1 percentage points to 6.4 per cent. The national unemployment rate was the lowest recorded since July 2024. Across Canada, wholesale and retail trade recorded the largest employment increase in July, adding 21,000 jobs, or 0.7

Canada and the United Arab Emirates have successfully concluded negotiations on a new Comprehensive Economic Partnership Agreement, marking a significant step in strengthening trade and investment ties between the two countries. The announcement was made Friday in Toronto by Maninder Sidhu and Thani bin Ahmed Al Zeyoudi. Negotiations for the agreement began during Prime Minister Mark Carney's visit to the UAE in November 2025. The federal government said the agreement is one

Canadian small business confidence improved sharply in early July, according to the latest Business Barometer released by the Canadian Federation of Independent Business (CFIB). The CFIB's long-term optimism index, which measures business owners' expectations over the next 12 months, rose to 58.3 in the first half of July—an increase of about eight points from June. Short-term confidence also strengthened, with the three-month outlook climbing to 57.0, indicating improved exp

Premiers from across Canada have signed a new memorandum of understanding aimed at improving accessibility and creating a more barrier-free country for people with disabilities. The agreement was signed by the premiers of Newfoundland and Labrador, British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward Island, Yukon, the Northwest Territories and Nunavut. The memorandum of understanding (MOU) commits provinces and territories to

The Newfoundland and Labrador government has signed a new agreement allowing direct-to-consumer alcohol sales with participating Canadian jurisdictions, making it easier for consumers to purchase alcoholic beverages directly from producers across provincial borders. Premier Tony Wakeham announced the agreement, which permits eligible wineries, breweries, cideries and distilleries in participating provinces to sell and ship products directly to consumers for personal consumpti

The federal government announced more than $3.5 million in funding for nine businesses in the St. John’s metro region to help them modernize operations, strengthen supply chains, and expand into new markets. The investments, totalling $3,565,000, were announced July 16 by Tom Osborne on behalf of the Atlantic Canada Opportunities Agency. The funding is being provided through the Regional Tariff Response Initiative (RTRI), a federal program aimed at helping businesses improve

The Bank of Canada left its key policy interest rate unchanged at 2.25 per cent on Wednesday, citing signs of improving economic growth while warning that global risks, including the conflict in the Middle East and uncertainty surrounding U.S. trade policy, continue to cloud the outlook. The central bank maintained its target for the overnight rate at 2.25 per cent, with the Bank Rate at 2.5 per cent and the deposit rate at 2.2 per cent. Canada's economy is showing signs of r

Kruger Inc. says a major step has been taken toward advancing its proposed $700-million diversification project at Corner Brook Pulp and Paper Limited following support from the provincial government. In a news release issued last week, the company said the Government of Newfoundland and Labrador has provided a non-binding letter of intent indicating its willingness to work toward extending the mill’s existing power purchase agreement with NL Hydro by an additional 12 months.

The long-awaited Gordie Howe International Bridge will officially open to traffic on July 27, marking a major milestone for cross-border transportation and trade between Canada and the United States. Canada and the state of Michigan have reached an agreement on the opening date with the support of the U.S. government. The new crossing is expected to strengthen one of North America's most important trade corridors. Hundreds of millions of dollars in goods move across the Winds

Canadian business sentiment weakened during the second quarter of 2026, reversing gains made over the previous three quarters as higher fuel costs and geopolitical tensions dampened confidence, according to the latest Business Outlook Survey released by the Bank of Canada. The survey found that firms across the country reported a softer sales outlook, citing slower business and consumer spending linked to rising energy prices and uncertainty surrounding the conflict in the Mi

Canada has reaffirmed its support for the continued renewal of the Canada-United States-Mexico Agreement (CUSMA) following a trilateral meeting with trade officials from the United States and Mexico. In a statement released Wednesday, Dominic LeBlanc, Minister responsible for Canada-U.S. Trade, said he met with Jamieson Greer and Marcelo Ebrard as part of the fifth Free Trade Commission review of the agreement. The meeting was held under the joint review provisions outlined i

The inflation rate increased 3.2 percent in May, up from a 2.8 percent gain in April. Higher prices for gasoline continued to drive the acceleration. Excluding gasoline, inflation still rose at a faster pace year over year in May at 2.2 percent compared with April, which was at 2.0 percent. On a seasonally adjusted monthly basis, the CPI increased 0.5 percent, largely due to a rise in the recreation, education, reading and transportation components. Shelter prices continue to

In April, retail sales increased nationally by 0.5% to $73.0 billion. Sales were up in five of nine subsectors, led by increases at gasoline stations and fuel vendors. The largest increase in retail sales in April was observed at gasoline stations and fuel vendors. Sales at motor vehicle and parts dealers were up 1.7% in April. The increase was led by sales at new car dealers, which posted a fourth consecutive monthly gain. Sales were also up at used car dealers in April afte

The Northern cod fishery is generating increasing economic benefits for Newfoundland and Labrador, with exports, employment and landed values all rising as the stock continues its recovery. According to Fisheries and Oceans Canada, Northern cod landings reached 32,700 tonnes in 2025, more than double the levels recorded when the commercial fishery reopened. The fishery generated an estimated landed value of $75 million last year. Northern cod accounted for six per cent of the

Embraer E195-E2. Source: PorterE195-E2E195-E2 Porter Airlines has announced a new flight between Deer Lake Regional Airport and Ottawa International Airport, making it the only carrier flying nonstop between the two locations. The seasonal route starts with four weekly round-trip flights and ends in early September. The Embraer E195-E2 aircraft used for these flights carries up to 132 passengers, and with a two-by-two configuration, there are no middle seats on any flight. Th

Today, the Bank of Canada held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. The conflict in the Middle East is now in its fourth month. The resulting increases in energy prices and disruptions in global supply chains are weighing on global economic growth and pushing up inflation. At the same time, the US administration continues to propose new tariffs and trade policy uncertainty remains elevated. In Canada, GDP edged

Tim Hortons has launched a national hiring campaign aimed at recruiting 10,000 new local team members across Canada this summer. The coffee and restaurant chain addressed its use of the Temporary Foreign Worker Program, stating that roughly 4,000 of its approximately 110,000 employees were hired through the program. The company said that represents about 3.6 per cent of all restaurant roles and noted the number has declined steadily since 2024. Tim Hortons said temporary fore

The inflation rate increased to 2.8% in April, up from an increase of 2.4% in March. Higher energy prices, most notably gasoline prices, drove the acceleration, according to Statistics Canada. The removal of the consumer carbon levy in April 2025, which resulted in monthly declines for gasoline and natural gas, has now fallen out of the 12-month movement, putting upward pressure on the all-items CPI. Excluding gasoline, inflation rose at a slower pace year over year in April

The Government of Newfoundland and Labrador has signed a letter of intent with Kruger Inc., owner of Corner Brook Pulp and Paper Ltd., to continue discussions on the company’s diversification plans and a potential long-term power purchase agreement with Newfoundland and Labrador Hydro. Under the proposed arrangement, the provincial government plans to extend the current interim power purchase agreement between Newfoundland and Labrador Hydro and Corner Brook Pulp and Paper fo

Today, the long-awaited Independent Review Committee report respecting the Memorandum of Understanding for a New Long-Term Energy Purchase and Development Initiative Between Newfoundland and Labrador Hydro and Hydro-Québec was released. Premier Tony Wakeham and Minister Lloyd Parrott held a news conference to discuss the report. Government says the MOU in its current form is not in the best interest of the province. The committee also raised concerns about how the negotiation