Navigating non-U.S. travel bookings to keep Canadian dollars at home
Travel agents say more Canadians are cancelling trips to the U.S. in favour of vacationing elsewhere, but Travel Group consultant McKenzie McMillan says dollars can still enter the American economy depending on which companies they book with. He advises a caller who booked a trip to Ireland through an American company to do a little research but tells BC Today guest host Amy Bell it can be unavoidable as operators for Western travellers use U.S. dollars as a default currency.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Winnipeg Free Press
17 minutes ago
- Winnipeg Free Press
EU seeks to lower a price cap on Russian oil and discourage Nord Stream pipeline investors
BRUSSELS (AP) — The European Union wants to lower a cap on the price of Russian oil to deprive the Kremlin of extra profits to fund its war in Ukraine as part of a new raft of sanctions aimed at forcing Moscow to the negotiating table, senior officials said on Tuesday. EU foreign policy chief Kaja Kallas said the bloc is 'proposing to lower the oil price cap from $60 to $45, which is lower than the market price, and lowering the oil price cap will hit Russia's revenues hard.' Kallas said the EU also wants to impose 'sanctions on the Nord Stream pipelines to prevent Russia generating any revenue in the future. In this way, it sends a clear signal we are not going back to business as usual.' All 27 EU member countries must all agree for the sanctions to enter force. In 2023, Ukraine's Western allies limited sales of Russian oil to $60 per barrel but the price cap was largely symbolic as most of Moscow's crude — its main moneymaker — cost less than that. Still, the cap was there in case oil prices rose. Oil income is the linchpin of Russia's economy, allowing President Vladimir Putin to pour money into the armed forces while avoiding worsening inflation for everyday people and a currency collapse. European Commission President Ursula von der Leyen said she assumed that the price cap would be discussed and agreed among the leaders of the Group of Seven major world economic powers when they meet in Canada on June 15-17. She said the United States and its G7 partners realize 'that the oil price has lowered so much that the effectiveness of the cap is to be questioned, and therefore we all want to lower the oil price from $60 per barrel down to $45 per barrel.' The Nord Stream gas pipelines were built to carry Russian natural gas to Germany but are not in operation. They were sabotaged in 2022, but the source of the underwater explosions has remained a major international mystery. The Commission has said that it wants to impose sanctions on the operating consortium to discourage investors from trying to use the pipelines in future. The blasts happened as Europe attempted to wean itself off Russian energy sources following the Kremlin's full-scale invasion of Ukraine, and contributed to tensions that followed the start of the war. Von der Leyen noted on Tuesday that at the beginning of the war in 2022, 'Russia had 12 billion euros ($14 billion) of energy revenues from fossil fuels' from Europe per month. 'And now we're down to 1.8 billion (euros).' Monday Mornings The latest local business news and a lookahead to the coming week. The new EU sanctions would also target Russia's banking sector, with the aim of limiting the Kremlin's ability to raise funds or carry out financial transactions. A further 22 Russian banks will be hit with measures, von der Leyen said. An export ban worth some 2.5 billion euros would also be imposed, and the assets frozen of more than 20 Russian and foreign companies alleged to be providing support to the Kremlin's war machine. Von der Leyen said the sanctions are aimed at forcing Russia into serious talks about peace with Ukraine. 'We need a real ceasefire, and Russia has to come to the negotiating table with a serious proposal,' she told reporters. The EU has imposed several rounds of sanctions on Russia since Putin ordered his troops into Ukraine in February 2022. Around 2,400 officials and 'entities' – often government agencies, banks and organizations – have been hit. It's last raft of sanctions, imposed on May 20, targeted almost 200 ships in Russia's sanction-busting shadow fleet of tankers, and tightened trade restrictions to stop produce that could be used for military purposes from reaching Russia's armed forces.
National Post
25 minutes ago
- National Post
Porter Airlines Inaugurating New Atlantic Canada Routes
Article content Nonstop service to Deer Lake and Charlottetown takes off from Toronto Pearson Article content TORONTO — Porter Airlines is launching two new nonstop routes, connecting Toronto Pearson International Airport (YYZ) to Deer Lake Regional Airport (YDF) and Charlottetown Airport (YYG). The flights open up additional travel possibilities across the country, with connecting options via Toronto linking to Western Canada. Article content Deer Lake service begins today, with three weekly roundtrips, while Charlottetown flights take off on June 13, with four weekly roundtrips, increasing to daily service on June 26. These new Toronto routes will operate seasonally, ending in early-September after the peak summer season. Article content All times local Article content Both routes will be operated with the airline's 132-seat Embraer E195-E2 aircraft. The two-by-two configuration means there are no middle seats on any Porter flight. Passengers will enjoy Porter's signature elevated economy experience with free, fast streaming WiFi, complimentary beer and wine, and premium Canadian snacks. Article content Whether it's the impressive Gros Morne hiking trails and sandy beaches in Deer Lake, the rich Canadian history and Victorian architecture in Charlottetown, or the diverse culture, arts, dining and entertainment scene of Toronto, Canadians have endless options when planning their summer travels. Article content Connections are available to Porter's extensive network through Toronto. The service complements Porter's existing summer seasonal service between Deer Lake and Halifax, and year-round service between Ottawa and Charlottetown, also providing passengers with a number of connections through Porter's North American network. These routes are operated on the 78-seat De Havilland Dash 8-400 aircraft. Article content 'Domestic travel is at an all-time high and travellers can now explore the east coast charm and beauty that Deer Lake and Charlottetown offer. Travellers heading west will also benefit from increased air service with the launch of these two routes and have options to connect to even more destinations across Canada and beyond.' – Andrew Pierce, vice president, network planning and reporting 'YYG is thrilled to welcome Porter Airlines' new non-stop service between Charlottetown and Toronto Pearson Airport. This new route launches just in time to welcome travellers to PEI for the summer tourism season while providing another option for Islanders wanting to visit the Toronto area or one of Porter's many connecting markets through Pearson. It is exciting to see Porter continue to expand services at YYG and we look forward to working with them to ensure their continued success in our market.' – Doug Newson, chief executive officer, Charlottetown Airport Authority 'We are thrilled to have Porter Airlines expand service at YDF with a direct flight into Toronto Pearson. This new service provides our passengers with more options to connect into Porter's network throughout western Canada and beyond. At the same time, it provides another opportunity for us to welcome tourists, family and friends to western Newfoundland and Labrador. Our partnership with Porter Airlines continues to grow and develop to benefit our entire region.' – Tammy Priddle, president and chief executive officer, Deer Lake Regional Airport Authority About Porter Since 2006, Porter Airlines has been elevating the experience of economy air travel for every passenger, providing genuine hospitality with style, care and charm. Porter's fleet of Embraer E195-E2 and De Havilland Dash 8-400 aircraft serves a North American network from Eastern Canada. Headquartered in Toronto, Porter is an Official 4 Star Airline® in the World Airline Star Rating®. Visit or follow @porterairlines on Instagram, Facebook and Twitter. Article content Article content
National Post
25 minutes ago
- National Post
Number of Canadians returning from U.S. trips down again in May: StatCan
OTTAWA — Canadians continued to avoid making trips to the U.S. in May, according to preliminary data from Statistics Canada. Article content The agency says return trips by Canadian residents by air from the U.S. in May fell 24.2 per cent compared with a year ago to 488,800, while return trips from overseas countries rose 9.8 per cent to 1.1 million. Meanwhile, Canadian resident return trips from the U.S. by automobile totalled 1.3 million, down 38.1 per cent compared with May 2024. Article content Article content Article content Canadians have avoided travel to the U.S. in response to President Donald Trump's tariffs and '51st state' threats over the past few months. Article content Article content
