The Financial Post reports in its Thursday edition that the head of Bank of Nova Scotia remains optimistic about Canada's economic outlook despite rising unemployment and other pressures because Prime Minister Mark Carney's "business-friendly government is trying to get things done."
The Post's Naimul Karim writes that whether its negotiations with Alberta on pipelines and carbon emissions or talks regarding the privatization of airports, Scotiabank's chief executive officer Scott Thomson said he expects to see more uses of capital in Canada.
"As we look further out, I actually think we are going to see some good things in the Canadian environment," he said on a second-quarter earnings call with analysts on Wednesday.
He also said there has been a significant change in tone from international investors regarding direct investment in Canada compared to the past 15 years, as well as from Canadian pension funds.
Pension funds in Canada historically looked outside of the borders," he said. "Now, they're increasingly looking inside the borders."
Scotiabank's net income for the three months ending April 30 was $2.6-billion, compared with $2.03-billion a year ago, resulting in net earnings per share of $2.
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