Glacier FarmMedia COVID-19 & the Farm

Global Markets: Federal aid on its way to Alberta

By Commodity News Services Canada

WINNIPEG, Dec. 18 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– In light of protests in Alberta over the Government of Canada having done little to help the province’s troubled oil and gas industry, today the feds will announce a C$1.6 billion aid package. The package will be targeted at training, new technologies, clean growth, financial supports and finding new markets for Alberta crude.

– Bank of Canada Governor Stephen Poloz said in a CTV interview yesterday that Canada is likely not heading into a recession in 2019, but will incur some “fender benders.” Poloz acknowledged international trade has slowed, but the United States and China are making progress to resolve their trade war. Poloz said he is also concerned about household debt in Canada and the impact low oil prices will have on the country.

– Huawei Technologies rotating chairperson Ken Hu demanded authorities produce evidence the company is a security threat. Despite growing sales around the world Huawei products have been banned in the U.S., Australia and New Zealand, while the European Union has expressed concerns. This is the first such statement from Huawei since the arrest of its Chief Financial Officer Meng Wenzhou earlier this month.

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