Latest news with #Kananaskis
Times of Oman
2 days ago
- Politics
- Times of Oman
India, Canada working on reinstatement of High Commissioners: MEA
New Delhi: The Ministry of External Affairs (MEA) on Wednesday stated that India and Canada are working to reinstate the High Commissioners to each other's capitals. The move follows efforts to normalise relations that had deteriorated sharply last year. At a press briefing, MEA Spokesperson Randhir Jaiswal said Prime Minister Narendra Modi and his Canadian counterpart Mark Carney had reaffirmed the importance of India-Canada ties during a meeting on the sidelines of the G7 Summit in Kananaskis, Canada. He added that both sides agreed to take constructive steps to "restore stability" in the relationship. "We had issued a press release when we had the last meeting of PM Modi with Prime Minister Carney, on the sidelines of G7 in Kananaskis in Alberta. Both leaders then reaffirmed the importance of India-Canada ties based on shared democratic values, respect for the rule of law, and commitment to upholding the principles of sovereignty and territorial integrity. Both sides agreed to take calibrated and constructive steps to restore stability in the relationship, beginning with the early return of high commissioners to each other's capitals," Randhir Jaiswal said. "That was what was agreed between the prime ministers. Both countries are now working on this particular matter," he added. Diplomatic tensions between the two nations flared up last year after then Canadian Prime Minister Justin Trudeau alleged that his government had "credible allegations" of India's involvement in the killing of Khalistani terrorist Hardeep Singh Nijjar in Canada in 2023. India had strongly denied the charges, calling them "absurd" and "motivated." In response, India recalled six diplomats, including its High Commissioner to Canada, after they were labelled "persons of interest" by Canadian authorities investigating the killing. India also expelled six Canadian diplomats, including Canada's High Commissioner to India. Nijjar was shot dead outside a gurdwara in Surrey, British Columbia, on June 18, 2023. With Mark Carney now serving as the Canadian Prime Minister after Trudeau's resignation, both countries appear to be taking steps to improve ties. According to MEA, PM Modi and PM Carney had a "key meeting" at the G7 Summit where they discussed ways to restore and strengthen the bilateral relationship. India and Canada also agreed to resume senior and working-level mechanisms and discussions in various areas, including: trade, people-to-people contact, connectivity and collaboration in key areas like, cooperating on clean energy and technology initiatives, collaborating on digital infrastructure projects, exploring opportunities for cooperation in artificial intelligence and discussing potential collaboration on food security and critical minerals.
CTV News
3 days ago
- Business
- CTV News
How could Canada, U.S. trade talks impact your mortgage?
With the leaders of Canada and the U.S. teasing an end to the ongoing trade war in the coming weeks how could this impact your mortgage rate? The ongoing trade war between Canada and the United States could be coming to an end after Prime Minister Mark Carney and U.S. President Donald Trump's meeting at the G7 summit in Kananaskis last week, where they both agreed on reaching a deal withing the next month. 'I think we're going to accomplish a lot. And our primary focus will be trade and trade with Canada,' Trump said at the summit. CTV News Ottawa investigates how reaching a deal could impact your mortgage rate. Tariffs mean higher inflation, interest rates: Economist Moshe Lander, Concordia University economics professor told CTV News Wednesday the tariffs associated with the trade war increase the inflation rate. He says higher inflation means higher interest rates. '(Tariff wars) should start to stall the Canadian economy,' he said. If a trade war is reached, 'we would see flat or even negative growth, which means that the Bank of Canada should cut interest rates to boost growth. You can't simultaneously increase and decrease interest rates,' according to Lander. 'The Bank of Canada has a difficult decision as to which one is more damaging to the economy, a return of inflation like we saw in the last couple of years, or the risk of a prolonged recession,' he said. 'Whatever it is that the Bank of Canada decides to do with interest rates is going to determine what happens to mortgage rates,' Lander said. 'So, if the Bank of Canada increases rates, mortgage rates will go up. And if the Bank of Canada cuts interest rates, then mortgage rates should come down a little bit.' A lot of Canadians have mortgages coming up for renewal in 2025 and 2026. If mortgage rates remain high, some will be put in 'precarious positions,' where they have to either sell their homes or file for bankruptcy, especially if the housing market is soft, according to Lander. 'This is the type of thing that the Bank of Canada has to consider as well, not because their role is to save Canadians from poor financial decisions, but to save Canadians from inflicting damage on them that could be avoided or delayed or supported in other ways,' he said. According to the latest numbers from Statistics Canada, Canada's annual pace of inflation is holding steady at 1.7 per cent in May. Sylvain Charlebois, senior director of Agri-Food Analytics told CTV News the Canadian economy wants to see an inflation rate below 2.5 per cent. 'So, we still have a long way to go, but we're going the right direction,' Charlebois said. The trade war has resulted in unpredictability, signaling creeping inflation, prompting the Bank of Canada to hold its interest rate for a second consecutive decision on June 4. At the time, Bank of Canada governor Tiff Macklem said there was a 'clear consensus' among monetary policymakers to leave the policy rate unchanged at 2.75 per cent as they wait for more information on the economic impact of tariffs. 'Uncertainty remains high,' Macklem said. Interest rates like 'a rollercoaster ride' Frank Napolitano from Mortgage Brokers Ottawa told CTV Morning Live Tuesday interest rates have been like 'a rollercoaster ride,' up one week and down the next. He says the markets have been shifting depending on Trump's social media posts. 'It's uncertainty, we don't know, I mean if he says on something one week, we know that it's going to drive inflation up, and if he says something else the week after, that'll drive inflation back down,' he said. 'So, (Macklem) doesn't actually know whether to follow his plan that I believe he had in January where it was going to do a bunch of consecutive rate cuts to get that rate back into neutral territory, which we're in the middle of right now.' Is reaching a deal worth having? Carney said after meeting with Trump in Kananaskis that he'll be imposing counter tariffs if a deal is not reached in 30 days. Lander hopes Carney's announcement 'focuses American minds that a deal is worth having.' However, the U.S. holds disproportionate power, according to Lander. 'A lot of that damage is likely to rebound back on to Canada. So, because of that disproportionate power imbalance, it's nice for the Prime Minister to say, I hope we have a deal in 30 days,' Lander said. 'The hope is that the Americans realize that the tariffs do inflict some damage on the U.S. economy.' With files from CTV News National
CTV News
3 days ago
- Politics
- CTV News
North Bay airforce base helped fighter jets intercept plane flying in restricted G7 airspace
The pilot of a small plane had to be intercepted by fighter jets over Kananaskis on Sunday, police say. Canadian military air defence crew members from North Bay, Ont., are detailing how they jumped into action to protect the G7 summit after a private plane ignored commands and flew into restricted airspace. Two members of the NORAD team in North Bay, Ont. Two members of the North American Aerospace Defense Command (NORAD) crew from 22 Wing North Bay overseeing Operation Cadence, the joint Canadian Armed Forces (CAF) and Royal Canadian Mounted Police (RCMP) security effort for the G7. June 25, 2025 (Eric Taschner/CTV Northern Ontario) Less than two weeks ago, world leaders gathered in Kananaskis, Alta., to talk international peace and security to global economic stability. Canada Trump G7 Summit Canada's Prime Minister Mark Carney walks with President Donald Trump after a group photo at the G7 Summit, Monday, June 16, 2025, in Kananaskis, Canada. (AP Photo/Mark Schiefelbein) On the first morning of the three-day annual meeting, a small civilian plane approached restricted airspace late in the morning of June 15. Map of G7 no-fly zone and where the private plane flew Map of G7 no-fly zone and where the private plane flew (NORAD) Operation Cadence overseen by the North American Aerospace Defense Command (NORAD) crew was a joint security effort between the Canadian Armed Forces (CAF) and Royal Canadian Mounted Police (RCMP). 'Trying to get him to turn away' The monitoring, tracking and intercept all started out of North Bay's 22 Wing Canadian Forces Base. 'I was synthesizing information from RCMP, from our higher headquarters in Winnipeg, coming down to us and then transferring that to the team in the weapons section,' Capt. Adam Murray, the mission crew commander told reporters Wednesday morning. Weapons director Lt. Glenn Butler said he saw the plane on his radar cruising in the no-fly zone and that's when the team scrambled to get in touch with the pilot. NORAD in North Bay, Ont., tracks Canadian air space NORAD in North Bay, Ont., tracks Canadian air space. (Eric Taschner/CTV Northern Ontario file) 'We started going up with our initial compliance trying to reach him over the radio,' Butler said. 'We were trying to tell him he was approaching restricted airspace trying to get him to turn away.' The incident happened just after 1 p.m. EST. Military officials said the plane, a single-engine, Cessna-style aircraft, was being flown by one person. Trained for this moment Canadian Armed Forces members started training for the G7 five months before the summit took place. 'There was a slight moment where we kind of all looked at each other like 'Okay, we're really doing this.' But after that moment, we all kind of flipped the switch and locked in,' Butler said. Military officials and the RCMP said 'multiple steps were taken to gain the pilot's attention.' But when the pilot did not obey initial orders to turn away, two CF-18 Hornet fighter jets were scrambled out of Cold Lake, Alta., to intercept the small fixed-wing aircraft. 'When that decision came down, I was on scope,' Butler said. 'I directed the fighter jets to turn to this heading, go to this altitude and go this fast to intercept the aircraft.' Mounties note the fighter jets 'employed final warning measures to contact the pilot and have them safely land under their own power.' Eventually, the pilot complied and landed in the RCMP's intended landing location in Brooks, Alta. Wasted resources RCMP said it was a serious situation. 'It is every pilot's responsibility to ensure that there are no restrictions in the airspace they intend to fly,' RCMP officials said at the time. 'These incidents take away resources that could be utilized in police work and securing the summit site.' The RCAF said it was pleased with the dedication of the entire team keeping a watchful eye on the sky while the politicians spoke about and debated global issues. Murray said dozens of crew members at 22 Wing were involved in some capacity throughout the summit, which ended June 17. 'It's easy to just get focused in on the people actively controlling the aircraft. They're doing the mission from the operations floor,' he said. 'But, we have we have techs keeping all of our systems running while it's going on. We have support staff as well.' At the time, RCMP noted that it appeared to be a 'wayward flier,' but the incident currently remains under police investigation.
Yahoo
3 days ago
- Business
- Yahoo
Canadian G7 Critical Minerals Action Plan Represents Major Boost for Manganese X Energy's Battery Hill Project
Montreal, Quebec--(Newsfile Corp. - June 25, 2025) - Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC) (TRADEGATE: 9SC) (OTCQB: MNXXF) (the "Company" or "Manganese X") is pleased to announce encouraging news for its flagship Woodstock, New Brunswick, Battery Hill Manganese Project ("Battery Hill") following the recent release of the G7 Critical Minerals Action Plan (the "Action Plan") by the Prime Minister's Office of Canada. The Action Plan, announced during the G7 Summit in Kananaskis, Alberta, underscores Canada's leadership role in strengthening responsible and secure supply chains for critical minerals — essential for clean energy, battery technologies, and economic security. "This Action Plan specifically encourages investment in mining and processing projects like ours," said Martin Kepman, CEO of Manganese X. "It's a clear signal that Battery Hill is on the right track and aligned with both Canada's and the G7's vision for critical minerals. With the launch of our upcoming Pre-Feasibility Study (PFS), we're more optimistic than ever about moving forward." Key highlights of the G7 Critical Minerals Action Plan include: Mobilizing investment in mining and processing to overcome permitting and financing challenges; Supporting local value creation and responsible mining practices; Encouraging collaboration among governments, Indigenous peoples, industry, and local communities; Promoting innovation in critical minerals processing, recycling, and sustainable supply chains. The Action Plan highlights manganese, among other critical minerals, as central to global decarbonization efforts and next-generation battery production, reinforcing the strategic importance of Battery Hill to Canada's future. The full statement from the Prime Minister's Office can be found at the following link Manganese X remains committed to advancing Battery Hill as a key contributor to the North American critical minerals supply chain. About Manganese X Energy Corp. Manganese X's mission is to advance its Battery Hill project into production, thereby becoming the first public actively traded manganese mining company in Canada and US to commercialize EV compliant high purity manganese, potentially supplying the North American supply chain. The Company intends on supplying value-added materials to the lithium-ion battery and other alternative energy industries, as well as striving to achieve new carbon-friendly more efficient methodologies, while processing manganese at a lower competitive cost. For more information, visit the website at On behalf of the Board of Directors of MANGANESE X ENERGY CORP. Martin Kepman CEO and Director Email: martin@ 1-514-802-1814 Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward-Looking Statements: This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operations and activities of Manganese X, are forward-looking statements. Forward-looking statements in this news release relate to the Company's goals and plans for 2025, including, among other items, the anticipated benefits of the Action Plan, the Company's plans to advance its PFS, and its belief in the strategic importance of Battery Hill. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Manganese X, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. These risks, as well as others, are disclosed within the Company's filings on SEDAR+, which investors are encouraged to review prior to any transaction involving the securities of the Company. Readers should not place undue reliance on the forward-looking statements. Manganese X does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws. To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNA
5 days ago
- Business
- CNA
Commentary: Asian leaders sidelined at G7 summit amid global turmoil
OTTAWA, Canada: The G7 summit in Kananaskis, Canada, opened amid multidimensional crises. The summit epitomised the fragmentation and uncertainty that have come to characterise our age. Host, Canada, along with most of the other G7 members and Asian invitees, were looking to forge a baseline consensus on stabilising trade and the global order, while accommodating US concerns for a more robust and self-reliant defence and security posture. But events intervened. In the early hours of Jun 13, just prior to the summit's opening, Israel began its anticipated and feared assault on Iran's nuclear and security infrastructure. US President Donald Trump abruptly left the summit in the evening after its first day. The anticipated one-on-one meetings with many of the participants (including those between Indian Prime Minister Modi and Australian Prime Minister Albanese and President Trump) never took place. Trump appeared pleased that the agenda was set around his tariff threats, viewing the other participants as mere supplicants. Unable to meet up with Trump, Modi was deprived of an opportunity to represent the Global South in navigating shifts in global power dynamics. His participation was instead more important for restoring bilateral ties with Canada, which had been badly strained since the state-sponsored assassination of Khalistan separatists on Canadian soil. In the end, there was very little opportunity to forge a common consensus, especially as the host and other participants were wary of confronting – and fearful of provoking – the US president. MISSED OPPORTUNITIES Perhaps the single outcome referencing Asia, though indirectly, was Trump's meeting with UK Prime Minister Keir Starmer. The two leaders jointly unveiled the trade deal they had outlined earlier in Washington, but in addition, Trump pledged to safeguard AUKUS, despite the announcement of the Pentagon's review of the deal. The deal with the United Kingdom represents an outlying concession to Trump's demands for tariffs. Not only did the United Kingdom concede a 10 per cent tariff, but it also agreed to swallow the 25 per cent tariff on steel and aluminium pending improvements in some vaguely defined future. The United Kingdom agreed to cooperate in a game of prisoner's dilemma, exposing all the other 'prisoners' to a protectionist tariff baseline that other countries may be compelled to meet. There was no time or room to reach a broader consensus on security to address the challenges posed by China and Russia. Issues like securing supply chains and critical mineral stockpiles were afforded little time in the discussion. Newly elected South Korean President Lee Jae-myung never had the chance to meet Trump, while Japan made no progress in securing an economic security arrangement with the United States. Nikkei concluded that the Japanese Prime Minister had come away 'empty-handed'. Trump, for his part, lamented the absence of Russian President Vladimir Putin, blaming former Canadian prime minister Justin Trudeau. The opportunity to showcase the joint efforts of US allies to meet the security challenge – and in doing so, reinforce the framework of the global economy – slipped away, much like Trump himself. The summit ended without a comprehensive joint statement. Instead, the Canadian host had to make do with a Chair's Statement. The summit ended with six joint statements. The one on critical minerals failed to move much beyond the framework agreed to in 2023, despite the urgency of China's recent retaliatory imposition of export controls. Worthy but barely actionable initiatives on quantum computing and artificial intelligence served to dress up the relevance of the meeting, alongside a statement on combating wildfires – a topic particularly relevant to Canada and the province in which the summit was held. A SNAPSHOT OF TURBULENT TIMES The outcome of the summit in many ways belied the closing remarks by the host, Canadian Prime Minister Carney. Carney referenced the origins of the G7 fifty years ago at Rambouillet amid war in the Middle East, economic turmoil surrounding the end of Bretton Woods and stagflation resulting from the oil price shock of the Arab embargo. He called for a new era of cooperation to overcome the current economic challenges and claimed this new era had been initiated. But overall, the summit ended without rising to the challenge. There was little evidence that progress had been made in forging the 'resilience' that Carney called for to combat such challenges as climate change. The 'wildfire charter' joint statement – endorsed by Australia, India, the Republic of Korea and South Africa – fails to mention climate change. This, as much as the failure to agree on a joint statement with respect to Ukraine and a statement on the Middle East that failed to call for an end to the fighting, points to the limited cooperation among putatively 'like-minded' allies of the United States. The conclusion by one Canadian editorialist was that a G6 without the United States may have done more to advance international cooperation. When the G7 began, its members accounted for 75 per cent of global GDP – they now account for 45 per cent. When it began, the United States accepted the initiative of French President Giscard d'Estaing to address turmoil in the global economy. With the global economy again in turmoil – largely at the instance of US President Trump – the challenge is both to gain cooperation with the United States and to work cooperatively around the United States when required. On the evidence of this year's summit, it is not clear that the G7 provides the framework to do both simultaneously.
