Canadian Prime Minister Justin Trudeau’s government is expanding the number of businesses that can use COVID-19 aid programs as the Omicron variant of SARS-CoV-2 fuels a surge in cases and new restrictions in Canada.
At a news conference with Canadian Minister of Finance Chrystia Freeland, Trudeau said that companies and individuals affected by new capacity limits would be eligible for extended financial help.
Firms can receive wage and rent subsidies of 25 percent to 75 percent, depending on the amount of revenue lost, the government said in a statement.
Photo: Reuters
Trudeau’s government and Canada’s provinces have been caught out by an exponential rise in cases, with testing labs in some places overrun with people.
Quebec is a particular hot spot: The French-speaking province on Wednesday reported a record 6,361 new cases in the previous 24 hours. It had 445 people hospitalized with the virus, nearly double the number at the start of this month.
Provincial officials are pleading for Canadians to be cautious with their Christmas gatherings.
Asked about the contrast between Trudeau’s message and that of US President Joe Biden — who on Tuesday said that vaccinated Americans can safely enjoy the holidays — Freeland pushed back.
“Look, Canada is not the United States and I think all of us know that very profoundly. Our countries have taken very different approaches in the fight against COVID-19,” she said at a news conference.
Canada has had 80 virus deaths per 100,000 people compared with 247 deaths in the US, data from Johns Hopkins University showed.
Workers can also receive benefits if they have lost at least half of their income due to COVID-19 public health lockdowns.
Some provinces, including Quebec, Ontario and British Columbia, have introduced capacity restrictions on gyms, bars, event venues and other businesses.
In October, Freeland shut down the government’s broad-based virus support programs for individuals and businesses, replacing them with new targeted aid for the hardest-hit industries. The new programs were initially estimated to cost C$7.4 billion (US$5.8 billion), but the changes are to add C$4 billion to the price tag, Freeland said.
Last week, the Canadian government set aside C$4.5 billion for higher costs related to COVID-19 in a fiscal update.
The domestic unit of the Chinese-owned, Dutch-headquartered chipmaker Nexperia BV will soon be able to produce semiconductors locally within China, according to two company sources. Nexperia is at the center of a global tug-of-war over critical semiconductor technology, with a Dutch court in February ordering a probe into alleged mismanagement at the company. The geopolitical tussle has disrupted supply chains, with some carmakers reportedly forced to cut production due to chip shortages. Local production would allow Nexperia’s domestic arm, Nexperia Semiconductors (China) Ltd (安世半導體中國), to bypass restrictions in place since October on the supply of silicon wafers — etched with tiny components to
Singapore-based ride-hailing and delivery giant Grab Holdings Ltd has applied for regulatory approval to acquire the Taiwan operations of Germany-based Delivery Hero SE's Foodpanda in a deal valued at about US$600 million. Grab submitted the filing to the Fair Trade Commission on Friday last week, with the transaction subject to regulatory review and approval, the company said in a statement yesterday. Its independent governance structure would help foster a healthy and competitive market in Taiwan if the deal is approved, Grab said. Grab, which is listed on the NASDAQ, said in the filing that US-based Uber Technologies Inc holds about 13 percent of
Taiwan is open to joining a global liquefied natural gas (LNG) program if one is created, but on the condition that countries provide delivery even in a scenario where there is a conflict with China, an energy department official said yesterday. While Taiwan’s priority is to have enough LNG at home, the nation is open to exploring potential strategic reserves in other countries such as Japan or South Korea, Energy Administration Deputy Director-General Chen Chung-hsien (陳崇憲) said. While the LNG market does not have a global reserve for emergencies like that of oil, the concept has been raised a few times —
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday received government approval to deploy its advanced 3-nanometer (3nm) process at its second fab currently under construction in Japan, the Ministry of Economic Affairs said in a news release. The ministry green-lit the plan for the facility in Kumamoto, which is scheduled to start installing equipment and come online in 2028 with a monthly production capacity of 15,000 12-inch wafers, the ministry said. The Department of Investment Review in June 2024 authorized a US$5.26 billion investment for the facility, slated to manufacture 6- to 12nm chips, significantly less advanced than 3nm process. At a meeting with