The Government of Canada has approved a major natural gas infrastructure project in British Columbia aimed at increasing supply and supporting exports. Minister of Energy and Natural Resources Tim Hodgson said the Sunrise Expansion Program will move ahead, allowing for a $4-billion upgrade to Enbridge’s Westcoast pipeline system. The project is expected to add up to 300 million cubic feet per day of capacity to the province’s main natural gas transmission network. Officials s

The provincial government is stepping in to reduce a planned electricity rate increase set for July 1, using a one-time credit to bring down the expected hike. Premier Tony Wakeham has directed Newfoundland and Labrador Hydro to apply $45 million from the Rural Rate Alteration account to offset costs linked to Newfoundland Power. Electricity rates had been projected to rise by about seven per cent. With the credit applied, the increase for island residential customers is expe

Prime Minister Mark Carney has announced a temporary suspension of the fuel excise tax. The tax cut will come into effect on April 20 and last until September 7. The cut will amount to a 10-cent drop in gas prices and about a 4-cent drop in diesel prices. The cut also applies to aviation fuel costs.

The federal government has awarded a major defence contract to Colt Canada to replace the aging assault rifles used by the Canadian Armed Forces. Under the agreement, Colt Canada will supply up to 65,402 rifle systems through the Canadian Modular Assault Rifle program. The project will replace the current C7 and C8 rifles, which have been in service for more than 35 years. The procurement will be carried out in two phases. The first phase includes the purchase of 30,000 gener

The Bank of Canada left its benchmark interest rate unchanged Wednesday, holding the target for the overnight rate at 2.25 per cent. The central bank said the Bank Rate remains at 2.5 per cent, while the deposit rate stands at 2.20 per cent. In its decision, the bank pointed to rising global uncertainty tied to the ongoing conflict in the Middle East, which it said has increased volatility in energy prices and financial markets. The bank warned the scope and duration of the c

The City of St. John’s says the region’s economy showed solid growth in 2025, driven largely by offshore oil production and gains in employment. The city released its 2025 Economic Review, an annual snapshot of key indicators for the St. John’s census metropolitan area, highlighting a five per cent increase in economic output over the year. Mayor Danny Breen said the results point to a strengthening local economy. “We are encouraged to see inflation easing and consumer spendi

The Bank of Canada will announce its decision on the target for the overnight rate on Wednesday, March 18, 2026. The announcement is scheduled for 11:15 a.m. Newfoundland Time. The current rate is at 2.25% and has been steady since October. The update is closely watched by businesses, investors, and consumers, as changes to the overnight rate influence borrowing costs, mortgages, and the broader economy.

Prime Minister Mark Carney is wrapping up a busy week abroad. The prime minister visited several countries over the past week and met with world leaders. First off, Carney visited India, where he was greeted by the Prime Minister of India, Narendra Modi, at Hyderabad House. Both leaders delivered a joint statement, and Canada secured a new partnership with India focused on energy, talent, and technology. Canada and India will conclude a new Comprehensive Economic Partnership

Energy NL says a benefits agreement signed between the Government of Newfoundland and Labrador and project partners Equinor and BP for the Bay du Nord offshore oil development marks an important step toward advancing the project. The industry association said the agreement sets expectations for work to take place in Newfoundland and Labrador and outlines opportunities for companies in the province’s supply and service sector. Energy NL CEO Charlene Johnson said the project is

The Newfoundland and Labrador government says it will maintain ownership and control of the Bull Arm fabrication site after cancelling a non-binding memorandum of understanding with North Atlantic. The province announced it has ended the agreement that had explored leasing the site to the company. Officials say the government will continue to manage the property and its marine and industrial facilities. The government said North Atlantic remains an important company in the pr

The new agreement to advance the Bay du Nord offshore oil project is expected to create thousands of jobs in Newfoundland and Labrador and generate billions of dollars in revenue for the province, the provincial government says. The province announced it has reached agreements with project partners Equinor and BP on life-of-field benefits, royalties and an equity option tied to the development. Officials say the deal clears a path forward for the project after it was paused i

The Newfoundland and Labrador government says it has reached agreements with industry partners to advance the Bay du Nord offshore oil project, a development expected to create thousands of jobs and generate billions of dollars in revenue. The province announced it has finalized deals with Equinor and BP covering life-of-field benefits, royalties and an equity option related to the project. Officials say the agreement clears a path forward for the project after it was paused

The Newfoundland and Labrador government says the province’s minimum wage will increase by 35 cents an hour starting April 1, 2026. Labour Minister Mike Goosney announced the change Thursday, saying the increase follows requirements under the province’s Labour Standards Regulations. With the adjustment, the minimum wage will rise to $16.35 an hour. The minimum overtime wage rate will increase to $24.53 an hour. The government said the annual adjustment is tied to changes in t

The St. John’s Board of Trade will introduce its 2026 board of directors and swear in incoming chair Anna Cook during an event this week in the capital city. The organization says business leaders, partners and stakeholders will gather Wednesday at the Delta St. John’s Hotel to recognize incoming and returning directors and outline priorities for the year ahead. The 2026 executive includes Anna Cook as chair, Geoff Spencer as vice-chair, Karen Veitch as second vice-chair, Byr

The Supreme Court of the United States has struck down sweeping global tariffs imposed by President Donald Trump, ruling the measures were not authorized under the law used to enact them. In a 6-3 decision released Friday, the court said the tariffs — applied broadly to goods from multiple countries — were improperly imposed under emergency economic powers that do not allow a president to unilaterally set tariffs. The ruling marks a major development in a long-running legal b

The Newfoundland and Labrador government says it is sharply reducing the amount of Crown land set aside for wind-hydrogen projects after several companies failed to advance development or pay required fees — a shift that critics say raises questions about the province’s earlier ambitions. Energy and Mines Minister Lloyd Parrott said Thursday the government has extended a Crown lands wind reserve for Exploits Valley Renewable Energy Corporation until Feb. 28, 2027. However, re

The Bank of Canada has issued a temporary order to XTM Inc. to immediately cease performing any retail payment activities. This order applies to XTM and its affiliated entities. The order prohibits XTM or its affiliates from conducting any transactions or withdrawals from accounts associated with the AnyDay platform. The Bank has serious concerns that XTM failed to safeguard client funds in its possession and has reason to believe that allowing XTM to continue to perform reta

The federal government is facing renewed criticism over an automatic increase to alcohol excise taxes scheduled to take effect April 1, with opponents arguing the move will add to affordability pressures for consumers and businesses. The Canadian Taxpayers Federation is calling on Prime Minister Mark Carney to cancel the increase, which would raise federal taxes on beer, wine and spirits by two per cent. “Canadians are struggling with the cost of everything and the federal go

The provincial government has cancelled a previously issued request for proposals for a highway twinning project and will move forward using a traditional procurement approach, a decision it says will create more opportunities for local contractors. According to government officials, contracts for brush clearing work associated with the project were previously tendered, awarded and completed, and all required clearing has now been finished. The completed work will remain in p

The federal government is rolling out a sweeping new automotive strategy designed to reduce Canada’s reliance on the United States, accelerate electric vehicle production and protect tens of thousands of workers amid growing global trade uncertainty. Prime Minister Mark Carney announced the measures, positioning Canada’s auto sector as a cornerstone of a broader industrial strategy aimed at building a more resilient and independent economy. More than 90 per cent of vehicles a