Darpan News Desk The Canadian Press, 01 Sep, 2023 11:01 AM
The latest G-D-P report showing the economy contracted at an annualized rate of 0.2 per cent in the second quarter may signal an end to the Bank of Canada's rate hiking campaign.
Economist Tu Nguyen (WIN) at R-S-M Canada says the cooling economy should be enough evidence for the central bank to forgo further rate hikes unless there is another major external shock that sends inflation upward.
She says this is the first time since the early days of the pandemic that spending on services did not grow, which is a powerful sign of a cooling economy.
White Rock RCMP beach patrol officers were on foot nearby and gave chase along the promenade. After a short foot pursuit three males were arrested and their knives seized. Two youth males, were released from police custody with conditions and future court dates, into the care of their parents/guardians.
R-C-M-P say an off-duty Mountie showed bravery when he saved three people's lives from a burning home on Vancouver Island. Police got a call yesterday morning about a neighbour's house being on fire in Lake Cowichan and when that resident knocked on the door, there was no response.
Project CEO Jason Klein has told the LNG 2023 conference in Vancouver that the project is close to 85-per-cent complete and will aim to compete globally, not only on price but also its environmental and social track record.
Two people in Nanaimo are unhurt but their home has smoke damage after what R-C-M-P say was a suspicious fire. It happened early yesterday morning south of Nanaimo in the Cinnabar Valley neighbourhood.
The BC Wildfire Service is reporting more than 300 fires, with 87 spotted in the last 24 hours and almost 200 of the total number ranked as out of control. B.C.'s wildfire danger was high to extreme across all but small pockets of the province on Monday.
The two countries have signed a "road map" outlining the process. The document sets out three phases for the work, which will eventually involve as many as 2,200 persistently deployed Canadian troops plus the ability to add hundreds of additional Armed Forces members as needed. It states that brigade buildup will be completed in 2025, and that Latvia will work to build new infrastructure.
