Headlines

TORONTO - Five things to watch for in the Canadian business world in the coming week: Smith-Ford event Alberta Premier Danielle Smith and Ontario Premier Doug Ford will be at an event in Calgary talking about Canada's economic future on Monday. The premiers are expected to discuss how Canada builds, transports and sells its energy to the world. GDP report Statistics Canada will release its report for gross domestic product for July on Tuesday. The agency's preliminary estimate released last [Read more]

(Adds background on Saturday attack blamed on Houthis in final paragraph) * Trump rejects Iran's proposal for reopening Hormuz * Iran says reopening Hormuz hinges on conditions being met and negotiated solution * Senior Iranian official says Tehran shows no flexibility on nuclear program By Trevor Hunnicutt, Yomna Ehab and Menna Alaa El-Din WASHINGTON/UNITED NATIONS/CAIRO, Sept 27 (Reuters) - I ran on Sunday insisted that only diplomacy can solve its conflict with the United States and [Read more]

President Donald Trump predicted on Saturday that the US and Cuba will reach an agreement and that he does not think military action will be necessary. "I would say that Cuba and us will make a deal. I don't think we'll need the military," Trump told reporters at the White House. The Trump administration has openly stated that its goal is to change Cuba's government. A US-imposed oil blockade implemented earlier this year has put the country under severe strain as it contends with fuel [Read more]

Venezuela's interim President Delcy Rodriguez arrived in New York this week for the UN General Assembly seeking business deals on debt, energy and mining, to demonstrate the once sanctioned country was open for business again after US forces removed her predecessor in January. She pledged in her speech before the UN that the South American OPEC member would hold elections as part of a transition to "full democracy." She left with photographs of herself alongside US President Donald Trump, but [Read more]

Yemen's Saudi-led coalition said early on Saturday it had intercepted two drones launched by the Iran-backed Houthis towards the Saudi capital Riyadh. The coalition posted on X that it was monitoring missile threat and drones launched at the kingdom without providing further details. The Saudi civil defence had sent alerts overnight for Khamis Mushait and Abha but not for the capital. The Houthis, who control the most populous parts of Yemen and much of the north, have been launching attacks [Read more]

Venezuela's long-awaited vote may not happen for a year or more due to planned overhauls of the courts and electoral authorities, according to five political sources and analysts, despite Acting President Delcy Rodriguez's promise of a transition to "full democracy". Rodriguez, who took power after a US raid captured then-President Nicolas Maduro in January, told the UN General Assembly on Wednesday that state institutions were preparing for elections. She said her government had opened talks [Read more]

Iran has given the United States a "concrete" seven-day plan to open the strategic Strait of Hormuz and the choice now rests with the US, Iran's Foreign Minister Abbas Araqchi told reporters at the United Nations on Friday. "If the necessary conditions are met, the strait can be reopened, a normal maritime passage restored within seven days. The choice now rests with the United States," he said. "The actions that the United States should should take are not new. They are all already in the [Read more]

Oil prices fell about 2% on Friday on mounting hopes for a truce between the US and Iran and talk about a possible US ban on diesel exports, even as traders worried that increasing attacks against Saudi Arabia by Houthi fighters could disrupt supply from the Middle Eastern producer. Brent futures fell $2.28, or 2.1%, to settle at $104.32 a barrel. West Texas Intermediate (WTI) crude fell $2.20, or 2.3%, to settle at $92.41. That put Brent up less than 1% for the week and WTI down about 8%. US [Read more]