Connect with us

Business

Canadian travellers should return home while they still can, Champagne recommends – CBC.ca

Published

on


Canadians travelling abroad should return to Canada while commercial transportation is still available, Foreign Affairs Minister François-Philippe Champagne recommended Saturday.

The minister delivered the warning on Twitter one day after Global Affairs Canada issued a similar statement advising overseas travellers to consider coming home earlier than planned amid escalating restrictions imposed due to the COVID-19 pandemic.

“Airlines have cancelled flights. New restrictions may be imposed with little warning. Your travel plans may be severely disrupted and you may be forced to remain outside of Canada longer than expected,” the ministry noted.

The federal government recommended Friday that Canadians should avoid all international travel and said it would limit where inbound flights would be permitted to land. 

But Champagne’s warning comes as Transport Canada continues to hammer out a list of airports that will accept international flights.

Discussions are currently underway with airports and industry members, said department spokesperson Amy Butcher Saturday, with a final list expected to be released this week. 

Transport Minister Marc Garneau says overseas international flights will be limited to certain airports, with more details expected to come soon. 1:16

What does that mean for travellers?

Butcher stressed that Canadians immediately concerned about finding flights home could continue to travel through Canadian airports until a final plan is revealed. 

Funnelling overseas flights into Canada to a handful of airports across the country is a way for officials to streamline the screening process and track where travellers are coming and going, she said. 

Transport Canada is currently working out the logistics of what that would look like for people trying to come home. 

Speaking from self-isolation, Prime Minister Justin Trudeau announced new measures to combat COVID-19, warning against international travel. 2:27

The timing of Champagne’s message isn’t ideal for Canadians from many provinces who began their annual spring break this weekend. 

Employment Minister Carla Qualtrough, who sits on the COVID-19 cabinet committee, told CBC Radio’s The House Friday that she was conscious of criticisms that the federal government delayed telling Canadians to avoid non-essential international travel. 

“I totally can relate as a mother of two children now just starting their own spring break,” she said. 

“But this was when we felt it best appropriate to make this call, and it was really based on the advice of both our public health experts who are leading in the world, and the [World Health Organization].”

Minister Qualtrough defends the federal government’s response to the COVID-19 crisis, and says other new measures to help Canadians could be on the way. 10:42

Health agency: Self-isolation voluntary but recommended

Aside from flights, boats and cruise ships carrying more than 500 people will be barred from docking at Canadian ports until July.

The Public Health Agency of Canada said in its latest travel notice to self-isolate for a period of 14 days following any travel outside of Canada 

The federal health agency said self isolating after travel is not mandatory, but is recommended as a precaution. 

Canadians arriving in the country can also expect to see more screening measures at airports, land, rail and marine points of entry into the country.

Let’s block ads! (Why?)



Source link

Business

No winning ticket for Friday night's $70 million Lotto Max jackpot – CTV News

Published

on


TORONTO —
No winning ticket was sold for the $70 million jackpot in Friday night’s Lotto Max draw.

However, five of the 19 Maxmillions prizes of $1 million each were won by ticket holders in the Prairies and in Newfoundland and Labrador.

The jackpot for the next Lotto Max draw on Apr. 7 will again be $70 million and there will be 20 Maxmillions prizes up for grabs.

Let’s block ads! (Why?)



Source link

Continue Reading

Business

Demand Destruction Will Decimate Oil Prices – OilPrice.com

Published

on



Demand Destruction Will Decimate Oil Prices | OilPrice.com

Trending Discussions

    Premium Content

    I have been warning since January that the long-term ramifications of the ongoing coronavirus (COVID-19) outbreak on the oil industry could be significant and long-lasting. In March we saw significant impacts on price and demand. What we don’t know is how long this crisis will last.

    But, I believe we are in the midst of an existential crisis for the oil industry as we know it. This will not be the same industry after this dark period ends. Only the strongest companies are going to survive the financial pain that lies ahead.

    There are many variables in this equation, and they are constantly changing. Demand is plummeting, production and prices are following, and Saudi Arabia and Russia are jockeying to hold onto market share.

    Vitol, the world’s largest independent oil trading company, has said that oil demand could slump as much as 20 million barrels per day (BPD) over the next few weeks, which would lead to an annual decline of 5 million BPD. Vitol CEO Russell Hardy said “It’s pretty huge in terms of anything we’ve had to deal with before.”

    Goldman Sachs said it expected March demand to be down 10.5 million BPD, followed by a further decline to 18.7 million BPD in April. The company noted that this deep plunge would be beyond the ability of OPEC to counteract: “A demand shock of this magnitude will overwhelm any supply response including any potential core-Organization of the Petroleum Exporting Countries output freeze or cut.”

    Related: U.S. Shale Ready To Fire Back In The Oil Price War

    Meanwhile, benchmark prices have temporarily settled in the lower $20s, but local prices have dropped even further. In a story that warned of the largest idling of oil wells in the past 35 years, Oilprice.com reported that last week some crude prices were trading in the $1 per barrel range

    The oil and gas sector has been crushed, and there will be a great deal of collateral damage. It’s hard to see when the sector will emerge from this crisis, or what the supply situation will be when we do. But it’s inevitable that there will be fewer players in the sector when this crisis ends.

    By Robert Rapier

    More Top Reads From Oilprice.com:

    Download The Free Oilprice App Today


    Back to homepage

    <!–

    Trending Discussions

      –>

      Related posts

      Let’s block ads! (Why?)



      Source link

      Continue Reading

      Business

      Five Canadian banks cut credit card interest rates to ease COVID-19 impact – Canoe

      Published

      on


      TORONTO — Bank of Nova Scotia, Toronto-Dominion Bank, Royal Bank of Canada, National Bank of Canada and Canadian Imperial Bank of Commerce said on Friday they are cutting interest rates on credit cards to provide relief to customers affected by COVID-19 pandemic.

      Late on Friday, Scotiabank said it would reduce credit card interest rates to 10.99% for personal and small business clients who have been approved for, or seek, payment deferrals.

      Earlier, in separate statements, TD Bank said it will cut credit card interest rates by 50% for customers experiencing hardship, and Royal Bank said it will reduce the charges by the same extent for clients receiving minimum payment deferrals.

      National Bank will allow credit card customers to defer minimum payments for up to 90 days and reduce annual interest rates to 10.9% for these clients, it said.

      CIBC too will reduce interest rates to 10.99% on personal credit cards for users who request to skip a payment, Canada’s fifth-largest lender said. (https://reut.rs/3aHZM9Q)

      Most Royal Bank, TAD, Scotiabank and CIBC credit cards charge 19.99% interest on purchases. Most National Bank cards charge 20.99%.

      Last week, Prime Minister Justin Trudeau said his government had urged banks to help alleviate the burden credit card interest rates placed on Canadians. Friday’s moves are the latest in a raft of measures announced by the banks to ease the impact of the coronavirus pandemic on customers.

      Canada’s six biggest banks unveiled a mortgage-relief plan two weeks ago to allow homeowners to defer or skip mortgage payments for up to six months as businesses come to a grinding halt due to the pandemic.

      National Bank said it will refund additional interest accrued on the deferred mortgage payments. The lender will also waive fees for transfers and stop payments on checks and pre-authorized debts, and will not charge overdraft fees on checking and high-interest savings accounts, it said.

      Since the mortgage-relief plan was announced, the banks have received nearly half a million requests that have been completed or were being processed.

      Let’s block ads! (Why?)



      Source link

      Continue Reading

      Trending