Company News

PRESS DIGEST- Canada-Aug 1

Aug 1 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.


** Kinross Gold Corp has struck a $283 million deal to buy Chulbatkan project in Russia for a combination of cash and stock, its first gold acquisition in four years.

** Government of Albarta has paused a tax credit which offers a 30% tax rebate on the amount of equity capital someone invests in a small business and meant to boost investment in the province's small businesses, a move some entrepreneurs and angel investors say could discourage innovation and growth.

** Top executives of Cenovus Energy Inc, MEG Energy Corp and Canadian Natural Resources Ltd published an "open letter" on Thursday that urges Canadians to support the much-criticized sector when they go to the polls in the national election due this October, an ad blitz that is part of a wider oil industry campaign to elect a sympathetic government.


** Canadian oil companies are worried that a new, "alarming" change to the way the country's largest pipeline network operates will make it more difficult for them to secure space in an already scarce pipeline system as the mainline system, operated by Enbridge Inc, is proposing to make a major change to the system by launching an open season to contract 90% of the space on the lines on a long-term basis, leaving just 10% of the system for spot shippers each month. (Compiled by Bengaluru newsroom)