November 8, 2026

Business News

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Canada launches $6.2bn Manufacturing Resilience Initiative.

** Finance Minister Mark Carney announced a $6.2 bn “Manufacturing Resilience Initiative” to modernise Canadian factories, fund green‑tech upgrades and offer tax incentives for reshoring production. The move comes as U.S. tariffs on Canadian goods inflame trade tensions, prompting diplomatic sparring and concerns over the future of the USMCA.

RBI Turns Hawkish: Repo Rate Raised to 5.50 as Inflation Risks Return

The RBI has raised its repo rate by 25 basis points to 5.50% and shifted its monetary-policy stance toward calibrated tightening. Governor Sanjay Malhotra’s message signals that further rate cuts are unlikely in the near term, even as the central bank raises its FY27 growth forecast.