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New Energy Partnership to Be Announced in Calgary

  Prime Minister Mark Carney and Alberta Premier Danielle Smith, seen here together last month, have been discussing a potential agreement focused on the energy sector for months.  Former Bank of England governor Mark Carney and Alberta Premier Danielle Smith are expected to unveil a major energy deal in Calgary this Thursday, according to a source familiar with the matter. The agreement is anticipated to focus on advancing clean energy initiatives while balancing Alberta’s traditional oil and gas strengths. Carney, who has been a vocal advocate for sustainable finance and climate-conscious investment, is set to join Smith in highlighting how the deal could position Alberta as a leader in energy transition. While details remain under wraps, the announcement is expected to emphasize collaboration between government and industry, aiming to attract investment, create jobs, and strengthen Canada’s role in global energy markets. The Calgary event underscores the growing importa...
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Canadian Service Sector Shrinks for Seventh Straight Month in December

 


According to S&P Global Canada services PMI data, the Canadian service sector shrank for the seventh consecutive month in December 2023, as elevated borrowing costs weighed on the housing market. The headline business activity index edged up to 44.6 in December from a near three-and-a-half-year low of 44.5 in November. However, it remained well below the 50 threshold that separates growth from contraction.

The Canadian service sector is a significant contributor to the country’s economy, and its contraction could have far-reaching implications. The sector includes industries such as finance, insurance, real estate, professional services, and retail trade. The contraction of the service sector could lead to a decline in employment opportunities and a decrease in consumer spending.


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