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Latest News
A long trade war could mean more financial stress: Bank of Canada + MORE May 8th
The financial picture for Canadian households and businesses was showing signs of increased health until the United States started a trade war, the Bank of Canada said Thursday (May 8).
The central bank says in its latest Financial Stability Report that at the start of the year, households had, o.... More »
Introducing KOHO, a unique financial service app Aug 16th
Nowadays, consumers can shop around for the low- or no-fee accounts, competitive interest rates, and additional features they want. And banks aren’t the only ones delivering financial services to Canadians. Fintechs, which integrate technologies into the financial sector, have empowered developers.... More »
Telus profit misses as it pays more to win wireless customers + MORE Feb 9th
Telecom company posted earnings of $87-million or 14 cents a share in the latest quarter
.... More »
This health-care dividend giant has crushed the S&P 500 + MORE Jul 27th
Thanks to its growing pharmaceuticals division, the company is posting solid results and is poised to continue raising its dividend
.... More »
Podcast 5: Master Class with the Millionaire Teacher + MORE Feb 8th
My newest podcast features an interview with Andrew Hallam, author of Millionaire Teacher, a compelling introduction to building wealth through smart saving and disciplined investing.
Andrew grew up in Canada, but he’s a citizen of the world. He spent several years as a teacher at the Singapore A.... More »
Indonesia, Malaysia form OPEC-like council for palm oil producers to ensure price stability
– canadianbusiness.com
KUALA LUMPUR, Malaysia – Indonesia and Malaysia, the world’s top two palm oil producers, signed an agreement Saturday to set up a council for palm oil producing countries in a bid to ensure price stability by managing production and stock in the global market.
Officials said the Jakarta-based council will be a body similar to that of OPEC for oil producers.
Indonesian Resources Minister Rizal Ramli said the council will be a “game changer” for an industry under pressure from falling prices and unsustainable farming practices.
The two countries account for 85 per cent of the world’s palm oil production, and the plunge in prices have hurt their economies.
Rizal said the council will address impediments to trade to boost competitiveness in the world market, and promote green and sustainable farming. It will also aim to improve the livelihoods of more than 4 million oil palm smallholders in Indonesia and some 500,000 in Malaysia, he said.
“It will be a game changer for the palm oil industry in many ways,” Rizal said after a signing ceremony to establish the council…
Officials said the Jakarta-based council will be a body similar to that of OPEC for oil producers.
Indonesian Resources Minister Rizal Ramli said the council will be a “game changer” for an industry under pressure from falling prices and unsustainable farming practices.
The two countries account for 85 per cent of the world’s palm oil production, and the plunge in prices have hurt their economies.
Rizal said the council will address impediments to trade to boost competitiveness in the world market, and promote green and sustainable farming. It will also aim to improve the livelihoods of more than 4 million oil palm smallholders in Indonesia and some 500,000 in Malaysia, he said.
“It will be a game changer for the palm oil industry in many ways,” Rizal said after a signing ceremony to establish the council…
