Latest news with #NOC
Economic Times
3 hours ago
- Business
- Economic Times
Canada hikes wage thresholds for Temporary Foreign Worker Program
Agencies Canada has increased the wage thresholds for employers hiring under the Temporary Foreign Worker Program (TFWP), a move that will impact new Labour Market Impact Assessment (LMIA) applications submitted from June 27, 2025, as per a CIC News report. Employment and Social Development Canada (ESDC) confirmed the revision affects nearly all provinces and territories, altering how foreign nationals qualify under either the high-wage or low-wage streams of the Temporary Foreign Worker Program is used by employers when no Canadian citizen or permanent resident is available to fill a job. The program's classification between high-wage and low-wage streams is determined by comparing offered wages against the median hourly wage of the province or territory. Wage thresholds revised across provinces The updated wage benchmarks will directly influence employer eligibility for LMIAs. For example, the threshold in Ontario rose from CAD 34.07 to CAD 36.00, while British Columbia saw an increase from CAD 34.62 to CAD 36.60. The threshold in Nunavut remained unchanged at CAD 42.00. Provinces such as Quebec, Alberta, and Nova Scotia also recorded moderate must apply under the high-wage stream if they offer wages at or above the new thresholds. Otherwise, they must proceed under the low-wage stream, which faces additional limitations. Employment and Social Development Canada (ESDC) reiterated that a moratorium remains in effect for LMIA applications under the low-wage stream in areas with unemployment rates at or above 6%. This policy, active since September 26, 2024, will continue until at least July 10, federal government has also restricted low-wage LMIA approvals based on the structure of an employer's workforce. Generally, low-wage positions must not exceed 10% of the total workforce at a given location. However, specific industries like construction (NAICS 23), food manufacturing (NAICS 311), hospitals (NAICS 622), and nursing care facilities (NAICS 623) are permitted a 20% cap. Moreover, ESDC confirmed that similar restrictions now apply to select caregiving roles under the National Occupation Classification (NOC) system. This includes roles such as registered nurses (NOC 31301) and home childcare providers (NOC 44100). 'ESDC and Immigration, Refugees and Citizenship Canada (IRCC) are reviewing the effects of including these in future measures,' the statement added. Policy changes reflect government's broader reforms The changes come amid increased scrutiny over the TFWP in 2024, when reports surfaced alleging worker exploitation and wage suppression. The federal government has since implemented several reforms: shortening LMIA validity to six months, cutting employment durations under the low-wage stream, capping new foreign worker admissions, and eliminating in-country job-supported work permit options for updates reflect a broader policy shift aiming to balance the country's labour market needs with concerns about temporary resident volumes and pressure on public services. (Join our ETNRI WhatsApp channel for all the latest updates) Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. The bike taxi dreams of Rapido, Uber, and Ola just got a jolt. But they're winning public favour Second only to L&T, but controversies may weaken this infra powerhouse's growth story Punit Goenka reloads Zee with Bullet and OTT focus. Can he beat mighty rivals? 3 critical hurdles in India's quest for rare earth independence HDB Financial may be cheaper than Bajaj Fin, but what about returns? Why Sebi must give up veto power over market infra institutions These large- and mid-cap stocks can give more than 23% return in 1 year, according to analysts Are short-term headwinds from China an opportunity? 8 auto stocks: Time to be contrarian? Buy, Sell or Hold: Motilal Oswal initiates coverage on Supreme Industries; UBS initiates coverage on PNB Housing
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Business Standard
a day ago
- Business
- Business Standard
Biocon Biologics to launch Eylea biosimilar Yesafili in Canada next month
Biocon Biologics, a subsidiary of Biocon Ltd, has received approval from Health Canada for Yesafili (aflibercept), a biosimilar to Eylea, marking the first such approval for an Eylea biosimilar in the country. The authorisation, granted via a Notice of Compliance (NOC), covers both vial and prefilled syringe formats (2 mg/0.05 mL). Yesafili is set to launch in Canada on July 4. Shreehas Tambe, chief executive officer and managing director, Biocon Biologics, said: 'The approval of Yesafili by Health Canada—the first biosimilar to Eylea in Canada—is a proud moment for Biocon Biologics. We are excited that in July, Canada will be the first country where we will launch Yesafili, making it our 10th biosimilar to be commercialised worldwide. This milestone reflects our science-driven innovation, global commercialisation strength and continued commitment to expanding access to high-quality, affordable biologics for patients across the globe.' Yesafili is a vascular endothelial growth factor (VEGF) inhibitor indicated for treating several retinal conditions that cause visual impairment. These include neovascular (wet) age-related macular degeneration (AMD), macular oedema resulting from central or branch retinal vein occlusion (CRVO and BRVO), diabetic macular oedema (DME), and myopic choroidal neovascularisation (myopic CNV). Furthermore, the company said the approval is based on a comprehensive package of analytical, nonclinical and clinical data, confirming that Yesafili is highly similar with no clinically meaningful differences to Eylea regarding quality, safety and efficacy. In April this year, Yesafili received approval for launch in the United States. In May 2024, the US Food and Drug Administration approved Yesafili.
Libya Review
2 days ago
- Business
- Libya Review
Greece Accuses Libya & Turkey of Breaching International Law
Greece has strongly condemned a recent memorandum of understanding (MoU) signed between Libya's National Oil Corporation (NOC) and Turkey's state energy company, TPAO, to explore four offshore zones in the eastern Mediterranean. The agreement, signed in Istanbul, outlines a two-dimensional seismic survey spanning 10,000 kilometres and processing of the data within nine months. Speaking at a press conference following the NATO summit in The Hague, Greek Prime Minister Kyriakos Mitsotakis labelled the MoU as 'unacceptable, illegal, and baseless,' asserting it carries 'no legal effect.' He argued that the deal undermines international maritime law and completely disregards the sovereignty of Greece, particularly the maritime rights of the island of Crete. Athens has long rejected the maritime boundary claims resulting from Turkish-Libyan agreements, stating that they ignore the presence of Greek islands and unfairly allocate vast swathes of maritime territory to Libya and Turkey. The Greek government intends to bring up the issue again during the European Council Summit in Brussels this week. Mitsotakis also revealed that he briefly met with Turkish President Recep Tayyip Erdogan on the margins of the NATO gathering. 'The issues that needed to be raised were raised,' he noted, without disclosing details of the exchange. The maritime MoU between Libya and Turkey builds on a previous controversial agreement signed in 2019, which was also heavily criticised by Greece and the EU. That earlier accord was never ratified by Libya's House of Representatives and remains a source of regional tension. The latest deal has once again drawn Greece into a diplomatic standoff, with broader implications for EU-Turkey-Libya relations, energy exploration rights, and stability in the eastern Mediterranean. Tags: GreeceHydrocarbonlibyaMaritimeTurkey
Libyan Express
2 days ago
- Business
- Libyan Express
Libya and Turkey sign offshore energy deal
BY Libyan Express Jun 26, 2025 - 06:13 NOC and TPAO ink exploration agreement as tensions rise in eastern Mediterranean Libya's National Oil Corporation (NOC) has signed a Memorandum of Understanding (MoU) with the Turkish Petroleum Corporation (TPAO), paving the way for offshore oil and gas exploration in Libyan waters. The agreement was formalised in Istanbul by NOC Chairman Masoud Suleiman and TPAO Director Ahmet Türkoğlu. According to a statement issued by the NOC, Turkish Petroleum will undertake extensive geological and geophysical studies across four offshore areas deemed to have strong exploration potential. As part of the MoU, a two-dimensional seismic survey will be conducted, covering an estimated 10,000 kilometres. The data collected will then be processed in detail, with the entire programme expected to be completed within nine months. The deal comes at a time of renewed maritime tensions between Libya and Greece. Just days earlier, Libya's Tripoli-based Government of National Unity (GNU) summoned the Greek ambassador, Nikolaos Garilidis, to protest what it described as Athens' 'unilateral actions' in contested maritime zones. The move followed an announcement by Greek Prime Minister Kyriakos Mitsotakis that naval vessels would be deployed to international waters off the Libyan coast. He described the operation as a 'precautionary measure' aimed at monitoring irregular migration, and claimed it would be carried out 'in coordination with Libyan authorities and other European forces'. 'Smugglers will not dictate who enters our country,' Mitsotakis stated. Both the GNU and Libya's rival eastern-based administration have issued strong objections to Greece's recent international tenders for hydrocarbon exploration south of Crete, arguing that parts of the designated areas fall within Libya's undelimited maritime jurisdiction and sovereign rights. The agreement between the NOC and TPAO is likely to add further complexity to already fraught regional maritime relations, particularly in the eastern Mediterranean, where longstanding disputes over energy rights and territorial waters persist. The views expressed in Op-Ed pieces are those of the author and do not purport to reflect the opinions or views of Libyan Express. How to submit an Op-Ed: Libyan Express accepts opinion articles on a wide range of topics. Submissions may be sent to oped@ Please include 'Op-Ed' in the subject line.
Business Times
2 days ago
- Business
- Business Times
Chinatown Business Association seeks over S$77,700 in backdated rent from Nanyang Old Coffee for outdoor refreshment area
[SINGAPORE] The Chinatown Business Association (CBA) is seeking more than S$77,700 in backdated rent from heritage cafe Nanyang Old Coffee (NOC) – for the use of an outdoor refreshment area (ORA). At NOC's flagship outlet at the junction of South Bridge Road and Smith Street, additional tables and chairs have been placed at the walkway outside the unit for years. CBA is now seeking backdated rent of S$77,724.18 for the use of this space since October 2024, according to a lawyer's letter seen by The Business Times. This is at a rate of S$8,636.02 a month. This is after, in August 2024, CBA won a tender to refurbish and transform the row of shophouses from 11 to 37 Smith Street, as well as the adjacent pedestrian state land. The letter, dated Jun 19, was addressed to NOC's owner Lim Eng Lam and sent by Trident Law Corporation's Andrew Wu, who represents CBA. NOC was asked to pay the backdated rent; remove items that have encroached onto the space; and pay legal costs of S$5,500, all by 5 pm on Monday (Jun 23). A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up Fees for the continued use of the space would accrue at the rate of S$287.97 per day, added CBA. The association said it would take further steps 'to best protect its interests' if NOC did not comply. As at Jun 23, NOC had removed the furniture but had not paid CBA. A case conference will take place on Thursday afternoon, with both parties and their solicitors required in attendance. Additional tables and chairs have been placed at the walkway outside Nanyang Old Coffee's shophouse unit for years. PHOTO: LIM ENG LAM CBA is a non-profit organisation that serves and promotes the business and community interest of stakeholders in Chinatown, according to its website. The tender which it won last year was jointly launched by the Singapore Land Authority (SLA), Urban Redevelopment Authority and Singapore Tourism Board. 'Repeatedly ignored' engagement efforts In response to queries from BT, a CBA spokesperson said the association began engaging NOC in October 2024 to discuss the ORA, but NOC 'repeatedly ignored' follow-up efforts. 'Despite multiple attempts to resolve the matter amicably, including a formal letter requesting the removal of furniture and potted plants from the outdoor dining area, the unauthorised use of the space has continued, even so, as of Jun 22, Sunday,' the spokesperson said. 'As such, CBA has had to take the necessary steps to address this issue.' According to a separate 121-page court document seen by BT, CBA had e-mailed SLA on Dec 24, 2024 to confirm if it could charge for the use of the ORA. SLA replied on Dec 26 that the space did fall within CBA's tenanted boundary and that the association may charge for its use. CBA then offered to sublet the space to Lim, but the latter did not take up the offer. On May 30, CBA filed an originating application – the first step in commencing legal proceedings – to the State Court, ordering NOC to remove all its furniture from the ORA within 28 days and pay incidental legal fees. The CBA spokesperson told BT that the association was neither restricting NOC from continuing its operations, nor 'compelling' it to become CBA's tenant. However, NOC will need to pay rent for the ORA, 'as is required of all other tenants'. Any proceeds would be donated to support 'the poor and needy' in the Chinatown community, the spokesperson added. In August 2024, Chinatown Business Association won a tender to refurbish and transform the row of shophouses from 11 to 37 Smith Street, as well as the adjacent pedestrian state land. PHOTO: PAIGE LIM, BT 'No lease' with CBA Speaking to BT, Lim said it was 'inappropriate and premature' of CBA to claim backdated rent and legal costs, as NOC has no lease agreement with the association. Lim also argued that the legal and territorial status of the ORA was unclear, as NOC had placed tables, chairs and potted plants in the area for 15 years without issue. 'The alfresco area currently in dispute has been used consistently over this time, just like the other businesses on Smith Street and Sago Street, many of whom have similarly made use of the street frontage for decades,' he said. Nanyang Old Coffee's owner Lim Eng Lam said it was 'inappropriate and premature' of CBA to claim backdated rent and legal costs, as NOC has no lease agreement with the association. PHOTO: BT FILE Smith Street used to house Chinatown Food Street, a 100m stretch of hawker carts that closed in October 2021 during the pandemic. The venue had been managed by food and beverage operator Select Group since 2014. Lim said Select Group had 'never claimed ownership or control' over its ORA, nor imposed rental fees or 'attempted to regulate this space in such a manner'. CBA's actions are thus inconsistent with precedent, he said. He added that CBA provided only a 'faint, undetailed map' when asked for proof of its ORA ownership, and refused to provide a copy of their lease with SLA. In addition, CBA's subtenancy offer for the ORA space was only for business owners who met two conditions: holding a valid tenancy agreement for the ground floor unit, and having obtained written consent from their shophouse landlord to rent the ORA space. NOC leases three floors of the shophouse from Yau Shing Land Investment, a real estate player headquartered in Hong Kong. Lim said he had informed CBA that entering a rental arrangement with the association would be in conflict with NOC's existing tenancy agreement. He argued that the association's behaviour was at odds with its aim to 'enhance Chinatown's business environment and promote the welfare of businesses'. 'The current conduct suggests a focus on commercial gain at the expense of existing heritage stakeholders, which runs counter to that mission,' he said. Lim requested CBA to pause all enforcement action 'until the rightful status and authority over the space' is confirmed by SLA and its landlord. He also asked for any rental arrangement 'to be subject to a clearly documented, mutually agreed contract' and for CBA to enter 'into a meaningful and transparent discussion, in good faith.' At Thursday's case conference, CBA will be represented by Trident Law Corporation's Wu, while NOC will represent itself. Lim said he is currently looking to engage a lawyer.
