Latest news with #economicopportunities
BBC News
17-07-2025
- Business
- BBC News
Mayor to host London-Africa summit to boost capital's economy
The first Africa-London business summit will be held next year, Sir Sadiq Khan has announced during a trade mission to the continent. The mayor said the summit will be hosted in London with the aim of tapping into the "huge economic opportunities that a strong, mutual relationship with the continent can bring". Sir Sadiq Khan began his investment trip in Lagos, Nigeria, this week and will also see him visit Accra in Ghana, and Johannesburg and Cape Town in South Conservative shadow chancellor Mel Stride acknowledged that while cultural links "are very important", he feels the mayor should be in London "with his hands on the tiller" to tackle issues such as shoplifting. The summit would bring together entrepreneurs and investors, state officials and trade groups from across the 54-nation aim is to attract foreign investment to the capital and boost trade links, a City Hall spokesperson currently accounts for for 1.25% of foreign direct investment into London, according to figures from the mayor's office."Expanding ties with Africa will be key to delivering our international trade ambitions, creating thousands of good jobs in the next five years and beyond," Sir Sadiq said. "London has a rich history with the continent through our diaspora communities." Kolawole Ajayi, a Nigerian chef with a food stall and two restaurants in Peckham, south London, welcomed the prospect of strengthening ties. "We have a lot of brains [in Nigeria] that if London can nest that and create an opportunity, there will be a big growth," he told BBC London. "Gone are the days it's only India you can outsource to. There are brains in Nigeria, I promise you." Foreign Secretary and Tottenham MP, David Lammy, also welcomed the event, calling London a "global city where the world comes to do business".Nationally, trade with the African continent amounted to £49bn in 2024, according to the Office for National is a key sector for the growth in trade, the mayor told BBC News in Nigeria."Lagos is the number one tech city in Africa and London is the number one tech city in Europe."I'm hoping to create partnerships that leads to wealth, prosperity and jobs".
CBC
11-07-2025
- Business
- CBC
Trade barriers coming down will open new markets for P.E.I. businesses, says Compton
Social Sharing Efforts to bring down provincial and territorial trade barriers will soon create new economic opportunities for local businesses, P.E.I.'s minister of economic development, innovation and trade said Friday. Darlene Compton recently attended a meeting of federal, provincial and territorial ministers in Quebec City, where Internal Trade Minister Chrystia Freeland hosted a full day of discussions focused on interprovincial trade. One of the key announcements from the talks was an agreement allowing direct-to-consumer alcohol sales across most of Canada by May 2026. Canadians in Yukon and all provinces except Newfoundland and Labrador will be able to order alcohol for personal consumption directly from producers that operate elsewhere in the country. Compton said this will expand opportunities for Island businesses, allowing customers in other regions to order directly from Island wineries and breweries online. She added that the province has heard from these businesses that they are interested in this opportunity. "It would open a lot of markets for them," she told CBC's Island Morning on Friday. "We're not just for consumption on P.E.I., but for all Canadians. So, yes, I think it's a good thing. It exposes them to new markets." Compton said a number of details still need to be finalized — including how taxation will work as well as how to deal with age verification and social responsibility. Reducing red tape The agreement was part of a broader effort to remove interprovincial trade barriers as U.S. President Donald Trump continues to wage a trade war on countries including Canada. In addition to alcohol sales, the ministers signed a memorandum of understanding addressing trucking regulations and labour mobility issues. "We're trying to reduce the red tape and give people the opportunity to work and live wherever they want," Compton said. "The interest is there across all provinces to make labour mobility top of mind." The federal government is also working with provinces and territories to expand the Mutual Recognition Project in the trucking sector — a pilot aimed at aligning regulations to reduce costs and improve efficiency. Compton pointed to the example of seasonal weight restrictions on trucks on P.E.I., designed to lessen damage on secondary roads during the muddy season when pavement is more prone to breaking up. Why potholes pop up, and how to avoid wrecking your ride this spring 1 year ago Duration 2:20 With spring in full swing on P.E.I., pothole season is here with it. CBC's Wayne Thibodeau speaks with the transportation department about what causes the little craters, and how to drive safely with them in mind. "What we would like to see is that those weight restrictions equal whatever the weight restriction or the weight would be for a truck, you know, going across any one of the provinces," she said. She acknowledged reducing trade barriers could increase competition, but said it also brings significant benefits. "It's opening P.E.I. up to so many different customers. So, you know, it's really expanding our customer base." No timeline yet on promised bridge, ferry toll cuts As for campaign promises Prime Minister Mark Carney made earlier this year to reduce tolls on the Confederation Bridge and Northumberland Ferries service, Compton said there's no update yet. During the election campaign in April, Carney pledged to cut bridge tolls by more than half and reduce ferry fares by at least 50 per cent. Bridge tolls are now more than $50 per vehicle. The ferry costs nearly $90 per car. P.E.I. MP, premier call for bridge and ferry toll cut by Canada Day 2 months ago Duration 2:41 Mark Carney's promise on the campaign trail to cut bridge and ferry tolls came without one thing —a timeline. Now, calls are growing louder for the prime minister to say when that will happen. CBC's Wayne Thibodeau has the story. Compton said P.E.I. Premier Rob Lantz met with Freeland last week and raised the issue. "I would say, stay tuned. We're working very diligently. And I think having both myself and the premier in person in front of Minister Freeland, she was well aware of what we would like to see on P.E.I.," she said. "We have a new government, for all intents and purposes, with a new prime minister... getting elected and having new ministers put in place, it just takes a while to get where they need to be to make these decisions. "I think we will get there, and I'll keep pushing," Compton said. Concerns over Wood Islands Harbour dredging One topic that didn't make it into Compton's meetings with Freeland was the federal government's plan to dredge Wood Islands Harbour later this year. The ferry service connecting eastern P.E.I. and northern Nova Scotia experienced multiple sailing cancellations last month due to what Northumberland Ferries Ltd. called "unusually low tides." The company has also announced that from July 22 to 28, some sailings will have reduced vehicle capacity, and others will be cancelled due to "tide-constrained loading." The P.E.I. Fishermen's Association worries that dumping sediment at sea could harm lobster fishing grounds in the Northumberland Strait. They are advocating for it to be dumped on land instead. "It has happened before that dredging was deposited in the strait," Compton said. "I guess the best worst-case scenario would be to make sure that it was dumped where we do not have lobster. So that's something [where the Department of] Environment will work with their [federal] counterparts to make sure that it's the best-case scenario for them."
CTV News
06-07-2025
- Business
- CTV News
Toronto Mayor Olivia Chow leading trade mission to the U.K., Ireland
Toronto Mayor Olivia Chow speaks during a panel at the Federation of Canadian Municipalities conference in Ottawa on Friday, May 30, 2025. THE CANADIAN PRESS/Adrian Wyld TORONTO — Toronto Mayor Olivia Chow will be leading a trade mission to the United Kingdom and Ireland, which she says will focus on supporting economic opportunities for Toronto businesses and workers. The trip was set to begin Sunday and Chow says she will be accompanied by leaders from Toronto's film industry. The mayor is scheduled to meet with production companies and broadcasters to encourage Canadian content production through agreements with Ireland and the U.K. Chow says at a time of 'historic uncertainty,' reliable trade partners have never been more important, adding the trip is part of the city's economic action plan to respond to U.S. tariffs. The mayor has meetings scheduled with the Ireland-Canada Business Association, Enterprise Ireland executives and the UK-Canada Chamber of Commerce. She is also scheduled to participate in bilateral meetings with Dublin Lord Mayor Ray McAdam and London Mayor Sir Sadiq Khan. This report by The Canadian Press was first published July 6, 2025. The Canadian Press
CBC
06-07-2025
- Business
- CBC
Mayor Olivia Chow leading trade mission to the U.K. and Ireland
Toronto Mayor Olivia Chow is leading a trade mission to the United Kingdom and Ireland, which she says will focus on supporting economic opportunities for Toronto businesses and workers. The trip is set to begin Sunday and Chow says she will be accompanied by leaders from Toronto's film industry. The mayor is scheduled to meet with production companies and broadcasters to encourage Canadian content production through agreements with Ireland and the U.K. Chow says at a time of "historic uncertainty," reliable trade partners have never been more important, adding the trip is part of the city's economic action plan to respond to U.S. tariffs. The mayor has meetings scheduled with the Ireland-Canada Business Association, Enterprise Ireland executives and the UK-Canada Chamber of Commerce. She is also scheduled to participate in bilateral meetings with Dublin Lord Mayor Ray McAdam and London Mayor Sir Sadiq Khan.
Yahoo
06-07-2025
- Business
- Yahoo
Toronto Mayor Olivia Chow leading trade mission to the U.K., Ireland
TORONTO — Toronto Mayor Olivia Chow is leading a trade mission to the United Kingdom and Ireland, which she says will focus on supporting economic opportunities for Toronto businesses and workers. The trip is set to begin Sunday and Chow says she will be accompanied by leaders from Toronto's film industry. The mayor is scheduled to meet with production companies and broadcasters to encourage Canadian content production through agreements with Ireland and the U.K. Chow says at a time of "historic uncertainty," reliable trade partners have never been more important, adding the trip is part of the city's economic action plan to respond to U.S. tariffs. The mayor has meetings scheduled with the Ireland-Canada Business Association, Enterprise Ireland executives and the UK-Canada Chamber of Commerce. She is also scheduled to participate in bilateral meetings with Dublin Lord Mayor Ray McAdam and London Mayor Sir Sadiq Khan. This report by The Canadian Press was first published July 6, 2025. The Canadian Press 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
