MONTREAL�Orascom Telecom Holding says it's withdrawing an application to acquire control of Wind Mobile Canada but says it's interested in working with the Canadian government on another approach.

Imperial Oil is closing its refinery in Eastrern Passage and converting it into a marine terminal. The company said it could not find a buyer for its facility to continue operating as a refinery.

TORONTO - Canada's growth outlook appears to be stronger than previously thought, thanks to an improving trade picture and the strength of corporate balance sheets, economists at the Royal Bank of Canada said Wednesday.

Statoil says it has discovered light, high-quality oil in the Flemish Pass basin 500 kilometres northeast of St. John's, raising hopes for an as-yet-untapped part of the Newfoundland offshore.

TORONTO -- The Bank of Canada is likely to start raising its benchmark interest rate in July 2014, a full year before the U.S. Federal Reserve, BMO's chief economist Douglas Porter said Wednesday.