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Ottawa's Parliament Hill, where the Carney government is rolling out Canada's largest fiscal stimulus package since 1980. / Photo: Unsplash. MoneySavings.ca  ·  Economy & Policy Monday, April 13, 2026  ·  Daily Edition Canada at a crossroads: oil shock, frozen rates, and a trade deal on the clock Canada's economy is navigating a uniquely complicated moment in 2026. A Middle East conflict has sent oil prices surging past US$104 a barrel, a once-in-a-generation fiscal stimulus package is being rolled out in Ottawa, and the clock is ticking on a renegotiation of Canada's most important trade agreement. For everyday Canadians, this means uncertainty at the gas pump, a central bank with limited room to cut rates, and a federal government betting big on public spending to kick-start growth. Here is what you need to know about the forces shaping the Canadian economy right now. 1. The Bank of Canada is stuck — and oil is why The Bank of Canada has held it...
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Inferno in Iberia: Portugal Struggles to Contain Triple Wildfire Amid Blistering Heat

 

Smoke from a wildfire rises over the hills near the village of Canelas, Arouca region

Portugal is grappling with three major wildfires tearing through its central and northern regions amid a relentless summer heatwave. Over 1,300 firefighters, supported by dozens of waterbombing planes, are battling the blazes that have prompted mass evacuations and red alerts across the country.

 Key Developments:

  • Arouca Region: The largest fire erupted Monday, forcing evacuations and the closure of the scenic Passadiços do Paiva trail. Residents like Rafael Soares are pleading for more air support, recalling a devastating blaze last September that scorched 15,000 acres.
  • Peneda-Gerês National Park: A fire has been raging since Saturday near the Spanish border, blanketing villages in thick smoke and triggering stay-at-home orders. Spain has dispatched aircraft to assist in firefighting efforts.
  • Extreme Conditions: The fires are fueled by bone-dry forests and record-high temperatures, with most districts under heat warnings. Climate change-induced droughts are being blamed for intensifying the crisis.

Regional Impact:

Portugal’s wildfire emergency mirrors a broader Mediterranean crisis. Neighboring Spain is battling multiple blazes, while Turkey and Greece have also faced deadly wildfires in recent weeks.

Authorities are urging caution in outdoor activities to prevent further ignition. With the wildfire season expected to stretch into September, Portugal remains on high alert.


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