NWT red taped
SOMBA K'E/YELLOWKNIFE - The Canadian Federation of Independent Business gave the NWT a failing grade when it comes to red tape for small business.
The annual ranking of Canadian jurisdictions in terms of how their governments work with - or against - small business and entrepreneurs came out last week. The NWT received and "F" grade, the lowest of any jurisdiction in Canada (Nunavut was not included in the survey). This is decline from the "D-" the NWT received last year from the CFIB. The highest ranked jurisdiction was British Columbia, which received an “A” grade this year and last.
NWT - Natural Resources Canada has updated its estimates for 2014 spending on mineral exploration and deposit appraisal in the North. According to the most recent estimates, based on September projections, spending in the NWT is up 32 per cent over last year to $102.6 million; spending in Nunavut is down 43 per cent of last year to $148.1 million; and spending in Yukon is down 13 per cent to $87.9 million. Junior mining companies accounted for 55 per cent of the total spending in the NWT, and 52 per cent of spending in Nunavut. The final report on 2014 spending is not expected until March.
Long-term free fall predicted for dollar
SOMBA K'E/YELLOWKNIFE - According to the Globe and Mail, investment house Goldman Sachs Group Inc. has cut its three month forecast on the Canadian dollar to US $0.78, down from $0.84. Goldman Sachs has also cut its 12-month outlook to $0.76, down from $0.82. Citing information delivered via a non-public Goldman Sachs financial news service, the Globe reports the decline is blamed on falling oil revenues. The long term forecast is for a $0.71 dollar in 2017.