Canadian Expat Assists in Strengthening Economic Ties Between Arizona and Alberta

As if we needed further proof of the value that Canadian Expats and Canadian organizations abroad provide both to Canada and to their host nations, October 15^th marked another milestone in the growth of bilateral trade between Canada and the state of Arizona.  The State of Arizona and the Canadian Province of Alberta formally recognized an agreement based upon an Arizona statute that establishes reciprocity of enforcement of money judgments.  Due in no small way to the effort of Canadian Expat Glenn Williamson the founder and CEO of the Canada Arizona Business Council and Honorary Consul for Canada in Arizona. 

Why Invest Internationally?

By Matthew Carvalho, CFA, CFP
Chief Investment Officer, Cardinal Point Capital Management

Diversification is the most important concept in investing, but also perhaps the least exciting. If anyone knew for sure exactly which one company or country would have the highest return in the coming year, there would be no reason to hold anything else. But while being able to predict markets with any certainty sounds great in theory, in practice nobody has been able to consistently outsmart the market. So what do you do if you can’t know for sure if Pepsi or Coke, or the US or Canada will be the best performer in the coming year? You diversify. This is especially important when it comes to financial planning.

What the diplomatic clash between Canada and Saudi Arabia means to Canadian Expats

Late last week, in retaliation for comments made through Twitter on August 3rd by Global Affairs Canada urging the Kingdom of Saudi Arabia to release women’s rights activists, Saudi Arabia expelled Canada’s Ambassador Dennis Horak and pulled their own ambassador from Canada.  Saudi Arabia has more recently said that it will be pulling Saudi students from Canadian University and Colleges.

The question however remains- What does this mean for Canadian Expats living in Saudi Arabia?

Canada defiant after Saudi Arabia freezes new trade over human rights call

By Aziz El Yaakoubi and David Ljunggren

RIYADH/OTTAWA (Reuters) - Canada on Monday refused to back down in its defense of human rights after Saudi Arabia froze new trade and investment and expelled the Canadian ambassador in retaliation for Ottawa's call to free arrested Saudi civil society activists.

In her first public response to Saudi Arabia's actions, Foreign Minister Chrystia Freeland said, "Canada will always stand up for human rights in Canada and around the world, and women's rights are human rights."

Riyadh on Sunday recalled its ambassador from Canada and gave the Canadian ambassador 24 hours to leave. The Saudi government also banned new trade with Canada, although it was unclear if it would affect existing annual Saudi-Canadian trade of nearly $4 billion and a $13 billion defense contract.

Saudi Arabia freezes new trade with Canada for urging activists' release

By nayera abdallah and David Ljunggren

CAIRO/OTTAWA (Reuters) - Saudi Arabia will suspend new trade and investment with Canada after that country's foreign ministry urged Riyadh to release arrested civil rights activists, it said in a statement released to the official Saudi Press Agency on Sunday.

It also gave the Canadian ambassador 24 hours to leave the country and recalled its own ambassador to Canada, the statement by the Saudi foreign ministry said, adding it retained "its rights to take further action."

The Saudi ministry had been briefed that the Canadian foreign ministry and the Canadian embassy urged the Saudi authorities to "immediately release" civil rights activists, the statement said.

Aimia proposes revised offer of C$450 million for Aeroplan loyalty business

MONTREAL (Reuters) - Aimia on Thursday said it rebuffed an offer by Air Canada and partners to buy its Aeroplan loyalty program and urged the carrier to make a higher offer for the business. The consortium's cash offer of C$250 million, later updated to C$325 million, did not reflect the value of the Aeroplan business, Aimia Inc said in a statement.

In a separate statement, Air Canada, the country's largest carrier, said Aimia rejected its original bid.

Aimia said it proposed a revised offer of $450 million for the program to Air Canada <AC.TO> and its partners, Toronto-Dominion Bank, Canadian Imperial Bank of Commerce <CM.TO> and VISA Canada Corp.

Canada exports hit record, U.S. tariffs hurt steel and aluminum

By David Ljunggren

OTTAWA (Reuters) - Canadian exports hit a record high in June, cutting the country's trade deficit to its lowest in 17 months, although U.S. metals tariffs slashed shipments of steel, Statistics Canada said on Friday.

The June deficit of C$626 million ($482 million) - the lowest since the C$485 shortfall recorded in January 2017 - was far smaller than the C$2.30 billion predicted by analysts in a Reuters poll.

Air Canada, banks make C$2.25 billion bid for Aeroplan loyalty program

Reuters) - Air Canada, two Canadian banks and Visa, offered on Wednesday to buy back the Canadian airline's previous Aeroplan frequent flyer program from Aimia Inc., for C$2.25 billion ($1.71 billion).

Air Canada, Canada's largest airline, spun off Aeroplan in 2002 to data analytics firm Aimia, and earlier this year said it would launch its own loyalty program.

Canada's new export minister to push beyond U.S. market

By Andrea Hopkins

OTTAWA (Reuters) - Canada has created a new Cabinet position to help exporters look beyond the United States and there will be resources for small businesses that want to take advantage of new trade deals, the new minister for export promotion said on Tuesday.

Mary Ng, who vaulted to Cabinet-level last week to take on an existing small business portfolio as well as a new one on export promotion, said she wants to help companies take advantage of new trade deals with the European Union and Pacific nations that have specific provisions to welcome small business trade.

Prime Minister Justin Trudeau's Cabinet shuffle put trade diversification front and center amid rising tensions with the United States, Canada's largest trading partner, with Ng and new Trade Minister Jim Carr tasked with finding new markets for Canadian goods.

Exiting the Canadian Tax System Worry-free

Moving or working abroad does not necessarily mean you are considered a non-resident for tax purposes. Depending on your ties to Canada, number of days in Canada, and other factors, the Canada Revenue Agency (CRA) may consider you a factual resident, deemed resident, non-resident, or deemed non-resident.