Global Markets: Canada’s most expensive cities

By Commodity News Service Canada

June 27 (CNS Canada) – The following is a glance at the news
moving markets in Canada and globally.

– Ottawa’s purchase of the Trans Mountain pipeline will add
C$6.5 billion in unplanned spending to the federal
deficit for the 2018-19 fiscal year, said a study by the
Institute for Energy Economics and Financial Analysis.
The costs include the C$4.5 billion purchase, plus
planning and construction costs. The federal deficit is
projected to hit C$18.1 billion.

– Toronto and Vancouver are tied as the most expensive
cities in Canada in the latest rankings of the world’s
most expensive cities for expats to call home in the 24th
annual Mercer Cost of Living Survey. Both came in at 109th
among all cities surveyed. Other Canadian cities in the
survey were Montreal, which placed 137th, Calgary 154th
and Ottawa 160th. Hong Kong was rated the most expensive
city in the world, followed by Tokyo, Zurich, Singapore
and Seoul.

– In United States primary elections for the House of
Representatives, two candidates backed by U.S. President
Donald Trump scored big victories, and in New York rookie
Democrat Alexandria Ocasio-Cortex defeated incumbent Joe
Crowely, who held the post for 10 terms.

– The United States ban that prevents people from seven
countries from entering the U.S. has been upheld by that
country’s Supreme Court. The ban applies to people from
Iran, Libya, Somalia, Syria, Yemen, North Korea and
Venezuela.

END

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