OTTAWA — One of Canada’s biggest banks says sliding oil prices could turn the federal government’s promised 2015-16 surplus into a deficit.
A report by TD Bank is projecting Ottawa to run a $2.3-billion shortfall next fiscal year rather than the $1.6-billion surplus predicted by the government in November — before oil prices fell further.
The bank also says the government’s $4.3-billion surplus projection for 2016-17 is on track to become a $600-million deficit unless new revenue-generating or cost-cutting measures are introduced.
At the Cock'n'Bull pub in the heart of Bondi, Irish tricolours were flying and the Guinness was flowing. A fiddler belted out a Celtic tune to revellers soaking up the atmosphere. Such was the happy crush that it seemed a substantial proportion of the tens of thousands of Irish people who have come to Australia to find work in the past year had found their way to the bar.
Sydney (AFP) - Australian Prime Minister Tony Abbott marked his country's national day Monday by honouring Britain's Prince Philip with a knighthood, sparking criticism from the opposition of being in a "time warp".
Malaysia believes undisclosed data from U.S. spy satellites based in Australia may be able to help find missing Malaysia Airlines flight MH370, according to the government-controlled New Straits Times.
World powers have passed a landmark Security Council resolution demanding an end to restrictions on humanitarian operations in Syria, but aid workers doubt it has the punch to make Damascus grant access and let stuck convoys deliver vital supplies.
President Bashar Al-Assad’s administration and to a lesser extent rebels fighting to overthrow him have been accused of preventing food and medical care from reaching a quarter of a million people in besieged areas.