Calgary Chamber joins business groups calling for changes to Bill C-69

Our regulatory system must be based on science, not politics: Sandip Lalli, president and CEO of the Chamber

Calgary Chamber joins business groups calling for changes to Bill C-69The Calgary Chamber has joined business groups across the country calling on the federal government to amend Bill C-69, which they say will put a chill on investment for the natural resource economy. “Our regulatory system must be based on science, not politics,” said Sandip Lalli, president and CEO of the Chamber, in a news…

Calgary entrepreneur breaks glass ceiling in male-dominated auto glass industry

Diamond Glass owner diversifying her holdings outside successful Samosa Factory operation

Calgary entrepreneur breaks glass ceiling in male-dominated auto glass industryCalgary entrepreneur Paven Nijjar is on a mission to let people know that the auto glass industry is not only for men. And the successful small business owner of Diamond Glass is proving that by her determination to grow her company in the marketplace. Nijjar is no stranger to business success – she has also…

Customer satisfaction levels with auto insurance industry suffering

J.D. Power report says Alberta drivers have seen the highest spike in rates, with the average premium rising by $326

Customer satisfaction levels with auto insurance industry sufferingCustomer satisfaction levels with the auto insurance industry are suffering due to the increasing cost of coverage, according to the J.D. Power 2019 Canada Auto Insurance Satisfaction Study. The report said those insured in Alberta have seen the highest spike in auto insurance costs, with the average premium rising by $326, followed by those in Ontario ($311), Atlantic…

Net loss widens for Calgary-based Precision Drilling

But revenue increased in the fourth quarter as the result of an unexpected rise in demand for rigs

Net loss widens for Calgary-based Precision DrillingCalgary-based Precision Drilling saw its revenue increase in the fourth quarter of 2018 but the company still registered a net loss. In reporting its financial results on Thursday, Precision said revenue of $427 million was an increase of 23 per cent over the prior year comparative quarter, but a net loss of $198 million ($0.68…

Manufacturing sales dip for second straight month

The largest decrease occurred in the petroleum and coal product industry, largely due to a drop in prices: StatsCan

Manufacturing sales dip for second straight monthManufacturing sales in Alberta fell four per cent to $6.1 billion in December, a second consecutive monthly decline, according to Statistics Canada. “As a result, Alberta manufacturing sales in December were more than $700 million below their October level. The largest decrease in sales occurred in the petroleum and coal product industry, largely due to…

Alberta investing $100 million to attract AI high-tech companies

Program intended to create more than 140 new companies, give Albertans new skills

Alberta investing $100 million to attract AI high-tech companiesThe Alberta government says it is investing $100 million to attract more artificial intelligence-based high-tech companies to invest in the province. “Innovation is a critical tool for competitiveness in nearly every sector of the economy, including energy. By investing in technology and the talent that powers it, we are ensuring Alberta continues to be a…

Cenovus suffers $2.9-billion net loss in 2018

‘We are well positioned to make material progress on our business plan:’ Alex Pourbaix, Cenovus president

Cenovus suffers $2.9-billion net loss in 2018Calgary-based Cenovus Energy reported on Wednesday a $2.9- billion net loss from continuing operations in 2018, including $1.3 billion in the third quarter. “In the fourth quarter, in some of the most difficult macro-economic conditions we’ve ever faced and while voluntarily managing our oil sands production lower, we remained relatively cash-flow neutral and continued to…

Restaurants Canada fed up with Notley government policies

The restaurant industry is mounting a new campaign to raise awareness about the tough challenges it faces in Alberta

Restaurants Canada fed up with Notley government policiesThe restaurant industry is mounting a new campaign to raise awareness about the tough challenges it faces in Alberta. “Since 2015, restaurants across Alberta have been battling a perfect storm of operational cost increases from a variety of policy changes, against the backdrop of a weakened economy,” said Mark von Schellwitz, Restaurants Canada vice-president for…

ATB Financial net income drops by close to 45% from a year ago

Third quarter marked by challenges in the energy market

ATB Financial net income drops by close to 45% from a year agoATB Financial reports that its net income for its fiscal third quarter, which ended Dec. 31, 2018, was $51.8 million – a decrease of 44.9 per cent from the previous year. Operating revenue rose by five per cent to $427.2 million and deposits increased by 7.1 per cent to $35.9 billion. ATB said loans also…

Alberta leads the charge in crude oil and equivalent products hike

Synthetic crude production was up 14.9% to reach its second highest level on record

Alberta leads the charge in crude oil and equivalent products hikeCanadian production of crude oil and equivalent products rose in November from a year ago, with Alberta leading the way. Statistics Canada reported on Monday that Canada produced 22.8 million cubic metres (143.3 million barrels) of crude oil and equivalent products in November, up 6.6 per cent from the same month a year earlier. In…
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