Business

After Vancouver airport had cut 25 per cent of its staff and Calgary airports had cut about one third of its staff strength, now Toronto’s Pearson Airport has announced it is cutting 500 Jobs due to limited travel demand amid COVID-19 Pandemic. The Greater Toronto Airports Authority (GTAA), which operates Pearson International Airport, said in a statement that it will ...

The Montreal-based DavidsTea is seeking protection at Quebec Superior Court  from creditors so that it can operate selective stores while it restructures. It plans to close most of its stores across the country. As per company’s statement on Wednesday, it is seeking an order to allow it to restructure under the Companies’ Creditors Arrangement Act in Canada and under Chapter ...

Indian government today took an unprecedented step and ordered to ban 59 Chinese mobile apps including popular Tik-Tok and Wechat. “On the basis of various feedback and recent credible inputs that such Apps pose threat to sovereignty and integrity of India, defence of India, security of state and public order, the Government of India has decided to disallow the usage ...

The Calgary based aviation company, WestJet said on Wednesday’s that it will permanently lay off 3,333 workers as demand for air travel sinks due to pandemic. The airline had 14,000 employees before pandemic. The subsequent border closures and travel restrictions grounded two-thirds of its fleet, WestJet “Right now, just 4,500 employees are on payroll and WestJet is exploring options to ...

Elon Musk’s  Space Exploration Technologies Corp popularly known as SpaceX applied for licence to offer satellite-based high speed internet service to rural areas in Canada. Elon Musk is the CEO of Tesla and SpaceX.  The company aims to provide high speed internet services to Canadians by beaming it to them via the company’s network of satellites. As reported, the space ...

The 83 year old Quebec based transportation and aviation company Bombardier said on Friday (June 5) that it will lay off 2,500 workers from the aviation operations of the company due to COVID-19 impact on its markets. Bombardier said that the majority of the workforce reductions will impact manufacturing operations in Canada and will happen gradually throughout the year. The ...

B.C. Finance Minister Carole James on Monday (Jun 1) issued emergency order that restricts commercial land lords who are not opting for Canada Emergency Commercial Rent Assistance (CECRA) from evicting small businesses that aren’t able to pay rent. “Emergency order is meant to protect small businesses during COVID-19 pandemic and encourage land lords to apply for CECRA” the B.C. finance ...

Canada Emergency Commercial Rent Assistance (CECRA) for small businesses provides relief for small businesses experiencing financial hardship due to COVID-19. It offers unsecured, forgivable loans to eligible commercial property owners to reduce the rent owed by their impacted small business tenants and to meet operating expenses on commercial properties. With the CECRA, property owners will reduce rent by at least ...

In his address to the nation today Prime Minister Narendra Modi announced a special economic stimulus package worth Rs. 20 Lakh Crore to fight the Covid crisis. “This special stimulus package which is about 10% of India’s GDP is towards achieving the larger goal of India to be Self Reliant (आत्मनिर्भर ),” he said. He announced that the stimulus package ...

Mr. Justin Trudeau, the Prime Minister of Canada, has announced some more key measures to help the businesses in Canada which are affected by the coronavirus (COVID-19) crisis. He also announced to expand eligibility of loan and assistance with commercial rent. The previously announced loan program, which offers businesses up to $40,000 in a government backed loan, will now be ...