AGP Executive Report

Energy & AI in the spotlight: An Abu Dhabi energy-focused AI firm, AIQ, is pitching its industrial model in Calgary—arguing the real advantage is not generic software, but the know-how to deploy it safely in Canada’s different operating realities. Forestry urgency in B.C.: A B.C. task force co-chair says the province needs faster regulatory and fibre-supply changes, as lumber export drops underline how urgent the forest sector’s transformation is. Clean power logistics: Sixteen wind turbines are being hauled along Highway 104 to Pictou County for the Weavers Mountain project, aiming to power up to 33,000 homes by year-end. Local jobs update: Greater Sudbury added 900 full-time jobs in May, even as unemployment ticked up to 6.4%. Crime—Canada-linked case: Three men extradited from Scotland admitted roles in the death of an Ontario restaurant owner after an altercation over an unpaid bill. World Cup ripple effects: FIFA has scrapped its controversial water-bottle ban for U.S. and Canada matches after backlash. Agriculture biosecurity: Canada is restricting Texas cattle imports after a flesh-eating screwworm outbreak, with a second case confirmed in Texas.

Canada-U.S.-Mexico Trade Talks: Business leaders are split as Ottawa weighs a July 1 CUSMA review deadline—some want speed to reduce uncertainty, others warn rushing could mean costly concessions. Currency & Rates: The loonie slid near an eight-week low as traders looked to upcoming jobs data and the Bank of Canada rate decision, with oil prices and trade worries adding pressure. Energy & Climate Costs: A report says the Iran conflict could add about $648 to the average Ontario household’s fuel bill this year, while cities are pushing Ottawa for cleaner energy investment after extreme-weather impacts. Solar in Saskatchewan: Ottawa is putting $15M into the Turning Sun Solar project near Estevan, a 100-megawatt build with 10% Indigenous ownership. Food & Agriculture: CFIA backed away from proposed beef traceability changes after industry backlash, while Canada also moves to limit livestock imports from Texas after a confirmed screwworm case. Travel Disruption: Sunwing and WestJet suspend all Cuba vacations indefinitely, citing the deepening crisis. World Cup Culture: The official FIFA 2026 album lands with 45 artists and major collaborations, as Canada prepares for the tournament with a home friendly draw against Ireland.

Jobs & Economy: Statistics Canada says Canada added 88,000 jobs in May and the unemployment rate fell to 6.6%—but economists warn trade uncertainty and a “technical recession” still loom. AI & Immigration: Ottawa unveiled an “AI for All” strategy and plans a faster work-permit stream for AI professionals via the Global Talent Stream, aiming to speed approvals and support permanent residence pathways. Public Safety Online Scams: The Canadian Anti-Fraud Centre says deepfake investment fraud is rising fast, with reported losses topping $1.2B since 2022. Telecom Policy: A new argument for rebuilding Canada’s public telecoms points to big gaps in fiber deployment and public ownership versus other OECD countries. Energy & Industry: Spartan Controls opened a new Kitimat facility to support growing industrial and energy demand; and Canada’s steel sector gets a one-year tariff rate quota extension while unions push for tighter protections. Childcare: Alberta says it nearly hit CWELCC space targets early, but a childcare group warns funding may not cover all new licensed spots.

Canada–South Korea Energy Deal: Ottawa and Seoul expanded cooperation on energy security, critical minerals and strategic industries, with potential CA$100B economic impact and tens of thousands of jobs. AI Push: Prime Minister Mark Carney unveiled “AI for All,” aiming to lift business adoption, build data-centre capacity, fund Canadian AI firms and create up to 250,000 jobs—while critics warn about worker impacts and weak rules. Forestry Shake-up: Forest ministers agreed old timber approaches won’t work, pointing to tariffs, weak demand and internal barriers; a federal action plan is coming. Major Projects Review Backpedal: Ottawa says it will delay and soften proposed changes to how major projects are assessed, drawing environmental criticism. B.C. Housing Court Fight: A lender is seeking court oversight for a troubled Burnaby townhouse project, asking for interim financing and a restructuring officer. Canada Post Settles: Postal workers ratified new contracts through Jan. 31, 2029, ending a long bargaining standoff. World Cup Safety: Tournament crowds are expected to bring pickpocketing risk; organizers urge simple bag-and-phone habits. Caribbean Development Financing: Canada-backed CDB guarantee cleared a major step, expected to unlock up to US$400M in additional lending capacity.

AI Strategy Launch: Prime Minister Mark Carney unveiled Canada’s “AI for all” plan, aiming to boost AI adoption, create 250,000 jobs, and lift GDP by about 3%, with a new $500M tech growth fund for homegrown firms. Public Finance Watch: Ottawa’s budget watchdog says deficits will run higher than the government projected, casting doubt on hitting a key fiscal “anchor” as the deficit-to-GDP ratio is expected to fall only with low odds year to year. Energy & Industry: Oil and gas drilling in Canada hit its busiest May since 2014, with 160 rigs active and analysts pointing to higher prices driving renewed activity. Investor/Regulator: CIRO accepted sanctions against Surrey, B.C. rep Sanjeev Kumar Tejpal over unsuitable mutual fund purchases, ordering a $20,000 fine plus costs. Fraud Alert: North Bay police charged a Toronto man in a door-to-door scam using fake claims of expired government energy rebates. Trade & Jobs: Manitoba businesses met U.S. trade reps in Washington to highlight export impact under CUSMA. Skilled Trades Pipeline: Ottawa launched a Mining and Minerals Workforce Alliance to build “talent pipelines” for the sector.

North Coast Pipeline Fight: B.C. Premier Danielle Smith’s push to repeal the North Coast tanker ban is being blocked by Heiltsuk Chief Councillor K̓áwáziɫ Marilyn Slett, who says a pipeline is a “non-starter” and that Indigenous leadership is moving ahead with conservation and development plans that avoid spill risk. Streaming Policy U-Turn: Ottawa told the CRTC to back off raising streamer payments to Canadian content; Culture Minister Marc Miller says the government will instead invest hundreds of millions to keep culture “accessible and affordable.” Steel/Aluminum Tariffs: Canada will extend U.S. steel and aluminum tariff-rate quotas and relief for one more year, with over-quota imports facing a 50% tariff. Forestry Crisis: Federal Natural Resources Minister Tim Hodgson unveiled nearly $130M for 56 forestry projects, calling the sector’s problems “homegrown” and warning of an “existential crisis.” Data Centres & Power Deals: TransAlta will buy two Colorado gas-fired peaking plants for about $1B, while AirTrunk plans a 3-gigawatt data centre project in India. Health & Business: Pharming says the U.S. FDA accepted its resubmission for Joenja for children with APDS; Lockheed Martin Canada invested $9.5M in Air Inuit fleet upgrades.

Forced-Labour Tariffs: Prime Minister Mark Carney says Ottawa will introduce forced-labour-in-supply-chains legislation after the U.S. proposed at least 10% tariffs on Canada and other partners tied to a forced-labour probe. Trade & Culture Funding: Ottawa is also telling the CRTC to reverse its plan to triple streamer contributions to Canadian content, opting instead for $600 million in support for the sector. Climate & Industry: Canada’s forest sector push aims to protect jobs and strengthen communities, while Clean Air Day messaging puts a $146B annual price tag on air pollution health and economic impacts. Housing Costs: CMHC analysis says cutting or eliminating development charges could make 9–14% more housing projects viable in high-charge cities, though it warns it’s not a full fix. Energy Show: Calgary’s Global Energy Show is set to draw 30,000+ attendees amid a new oil-shock backdrop. Business & Investment: Orano Canada and Cameco plan to increase stakes in the Cigar Lake uranium JV, and Concert Properties and Brookfield form a ~$1B industrial portfolio joint venture. Sports & Community: FIFA World Cup 2026 coverage continues across Canada, with host-city stadium guides and group previews.

Canada-US-Mexico Trade: Canada has notified the U.S. and Mexico it wants to renew CUSMA for 16 more years, aiming to avoid the deal’s annual review trigger. Energy & Security: South Korea and Canada agreed to deepen energy and critical-minerals cooperation, including more than tripling Canadian crude imports and securing extra LNG as Middle East supply risks linger. Oil & Gas Industry Investment: Tenaris says its planned $306M Sault Ste. Marie expansion is driven by rising Canadian oil-and-gas demand, with federal/provincial support and phased completion over three years. Tax Administration: Critics say cutting CRA tax experts will worsen refund delays and cost billions by weakening revenue collection. Retail & Markets: Shopify approved an extra $3B share buyback, lifting investor sentiment after a softer outlook. Tech & Finance: Robinhood officially enters Canada after closing its WonderFi acquisition, adding 300,000 funded customers. Mining Watch: G Mining Ventures’ Oko West gold project in Guyana was highlighted for construction progress, targeting first gold in 2H 2027. Public Health Oversight: Health Canada is examining concerns after a Winnipeg student died following plasma donation at a for-profit clinic.

Canada–Korea Energy Talks: Natural Resources Minister Tim Hodgson met Korea’s top envoy to push deeper cooperation on energy resources and critical minerals, including joint stockpiling and investment in strategic projects. Seniors Funding Push: Ottawa launched the 2026–27 call for community projects under the New Horizons for Seniors Program, doubling max grants to $50,000 and requiring CRA business numbers plus online GCOS applications. Taxpayer Ombudsperson Review: The Taxpayers’ Ombudsperson opened a systemic examination of how the CRA handles complaints, citing confusion over which path to use and concerns about fairness and timeliness. Housing Watch (BC): Metro Vancouver home sales fell nearly 4% in May, with apartment sales down about 7% year-over-year. Trade & Economy Politics: In Parliament, Conservatives forced an economy debate with a motion attacking the Liberal record as Canada’s “worst-performing” G7 economy. Industrial & Energy Deals: Railserve unveiled YardGUARD™ for real-time railyard safety; EDF and Masdar signed 15-year solar-plus-storage power purchase agreements in California. Tech & AI Markets: U.S. stocks edged toward new records as AI chip demand lifted names like Nvidia and Marvell. World Cup Build-Up: Canada co-hosts the 2026 tournament; Group D preview spotlighted Australia, Paraguay, Türkiye and the USA.

Canada Economy: Statistics Canada data has Canada in a technical recession after GDP shrank for two straight quarters, reigniting debate in Ottawa as Pierre Poilievre pushed for an emergency debate and the Speaker denied it. Poverty & Food Security: Food Banks Canada’s latest poverty report cards give New Brunswick an F, citing heavy housing and essentials costs that are squeezing families. Energy & Industry: Saskatchewan’s energy minister says a new resource is “extremely exciting,” while SaskPower plans to formally evaluate large nuclear reactor technologies alongside its SMR work. Energy Tech: AirPlus Renewables is rolling out its “EDGEWIND Tech” turbine, aiming to generate power closer to where it’s used, with deployments planned including Canada. Defence & Trade: South Korea and Canada are discussing deeper space and defense cooperation as Seoul tries to win Canada’s submarine project, with a preferred bidder expected in late June. Health & Pharma: Santhera says South Korea granted orphan drug and fast-track priority review designations for AGAMREE for Duchenne muscular dystrophy. Business & Markets: Canada Post workers voted in favour of new collective agreements as the company continues restructuring pressure.

Canada-Economy Clash: Conservative Leader Pierre Poilievre says Prime Minister Mark Carney is dodging accountability after StatCan reported a second straight quarterly GDP contraction, calling it “not technical” recession and pushing for an emergency debate. Defence Industry Push: Thales Canada and Lockheed Martin Canada move forward on River-class destroyer sonar work, while Ottawa also weighs a potential shift in its F-35 modernization plan toward a mixed fleet with Saab Gripen. Indigenous Power Partnership: Six First Nations near Lake Superior boost their stake in the East-West Tie transmission line to 20%, backed by a provincial guarantee. World Cup Business: FIFA struck a late broadcast deal with India’s Zee Entertainment for the 2026 tournament, ending a rights standoff. Energy & Trade: Canada’s natural gas exports to non-U.S. markets hit record levels in March, and LNG supply talks continue to broaden Europe’s access to B.C. gas. Agriculture & Food: A report argues farmland protection needs a “system” approach, and new irrigation scheduling tech aims to help Prairie farmers use water more efficiently. Sports Governance: The ICC suspended Cricket Canada’s membership, though Canadian teams can still play in sanctioned events.

Canada Economy & Trade: Canada has slipped into a “technical” recession as growth stalls, while U.S.-Mexico-Canada talks move without Canada at the table—fueling fresh debate over Mark Carney’s role and “Canada Strong” messaging. Food Waste Tech: Researchers at McMaster say small sensors and camera-based monitoring could help cut Canada’s $58B-a-year avoidable food waste by catching spoilage earlier. AI Data Centers & Power Supply: Entogo argues North America’s AI data-center timelines are now driven less by compute and more by long lead times for power equipment like transformers. Defence Procurement: South Korea’s presidential chief of staff is in Canada to push its submarine bid as Ottawa nears a preferred bidder decision. Mining & Environment: The U.S. EPA is reviewing the Eagle Mountain Gold Project after Mako Mining’s 2024 takeover of Goldsource Mines. Manufacturing & Jobs: Nissan says it’s boosting U.S. production but wants trade updates to avoid making it harder to build cheaper models in Mexico. Business & Capital Markets: Kruger Nonwovens orders an ANDRITZ nonwovens line for sustainable wipes in Quebec, targeting production in 2028. Health & Safety: A U.S. dumpling recall warns some products shipped to Canada may contain undeclared peanut allergens. Culture: “Heated Rivalry” dominated the Canadian Screen Awards, setting a record with 16 wins.

Economy & Politics: Pierre Poilievre is demanding an emergency parliamentary debate on the economy after Statistics Canada reported a technical recession, escalating pressure on Prime Minister Mark Carney. Indigenous Affairs: Canadian Heritage has ordered an independent financial audit of the Office of the Commissioner of Indigenous Languages after anonymous complaints, with critics alleging heavy spending on travel and a major conference. Housing Pressure: Equifax says more Canadians are missing mortgage payments than last year, with delinquency rising sharply in Ontario and B.C., pointing to renewed household strain. Defence & Security: Canada is moving to strengthen Arctic and NATO capabilities, including choosing Thales’ S2087 sonar for River-class ships and talks with Saab over GlobalEye surveillance aircraft; Canada also plans North American production for Ukrainian combat drones. Trade & Diplomacy: Canada and India are showing renewed optimism on a CEPA free-trade deal after a Western Canada-India leaders summit, while Canada-India trade momentum continues at high-level talks. Health & Pharma: At the World Health Assembly, Canada announced $131M over five years to improve access to affordable prescription drugs. Business & Finance: CIBC plans a Global Capability Centre in Hyderabad, and Project Agorá highlights faster cross-border payments using tokenisation. Energy/Industry: Heritage Petroleum’s $570M offshore contract is under scrutiny over a limited bidding process.

Canada Economy Watch: StatCan says Canada has slipped into a technical recession after two straight quarters of contraction, with weak growth and falling business investment adding pressure on households and markets. Cost of Living & Travel: Metro Vancouver transit riders are pushing for low-income fare passes as fares rise July 1, while Regina airport warns of route cuts and slight fare increases tied to higher jet fuel costs. Energy & Industry: A “milestone” LNG deal for Ksi Lisims is being described as more tentative by Germany’s SEFE, even as Canada positions LNG as a sovereignty and growth play. Public Safety & Health: The Alzheimer Society flags an unusual fridge-misplacing habit as a possible dementia warning sign. International Ties: PM Mark Carney and China’s foreign minister vow to deepen Canada–China cooperation, including energy, finance, and agriculture. Justice & Accountability: Kenneth Law, a Canadian poison seller, pleads guilty in Ontario tied to deaths in the UK and Scotland. Sports: The Hurricanes reach the Stanley Cup Final, powered by standout fourth-line play.

Indigenous Energy Deal: Ontario is backing a $75M loan guarantee so six First Nations can boost their stake in the East-West Tie transmission line from 3.5% to 20%, aiming for long-term revenue and jobs. Trade & Auto Policy: As USMCA talks begin, U.S. negotiators are pushing for much higher U.S. and North American content in vehicles to qualify for lower tariffs—language that would disadvantage Canada by excluding it from the talks. Postal Shock: Canada Post posted a $205M pre-tax loss in Q1 2026 as mail volumes fell and labour uncertainty weighed on revenue ahead of a union vote. World Cup Fitness Watch: Canada named its 26-man World Cup roster, but coach Jesse Marsch signaled key players may not be fully ready—especially Alphonso Davies. Defense Manufacturing: Ukraine and Canada are launching a joint venture to produce Ukrainian reconnaissance drones in Canada for the Ukrainian Armed Forces. Public Safety Case: Kenneth Law pleaded guilty in Ontario to aiding suicide in 14 cases tied to lethal chemicals sold online, ending a potential murder trial. Sports & Culture: The Canadiens’ playoff run ended with a 6-1 loss to Carolina, while Drake set new Billboard Canadian Hot 100 records.

Recession Watch: Canada’s economy slid into a surprise technical recession, with Q1 real GDP down 0.1% on an annualized basis and flat quarter-to-quarter, as tariff uncertainty and higher prices weigh on investment and hiring. Public Finance: The federal government posted a $55.28B deficit for 2025-26, per the monthly fiscal monitor, with revenue at $500.02B and program expenses rising. China EVs: Chinese-made electric vehicles are starting to enter Canada under a new Carney-Xi arrangement allowing up to 49,000 EVs in 12 months at about a 6% tariff, after prior tariffs effectively blocked imports. Defence & Industry: Canada and Ukraine signed an agreement to co-produce drones for Ukraine, while Plurilock launched a CPCSC readiness program to help defence suppliers meet mandatory cybersecurity certification. Markets & Tech: Ninepoint filed for a SpaceX HighShares ETF in Canada, and ZenaTech is moving into AI data-centre construction monitoring with LiDAR-based software. Justice: Kenneth Law, a Canadian man who sold “suicide packets” online, pleaded guilty to 14 counts of assisting suicide, including cases tied to the UK.