|By Marketwired .||
|May 7, 2014 08:01 AM EDT||
REGINA, SASKATCHEWAN -- (Marketwired) -- 05/07/14 -- Saskatchewan's economy continues to perform well, supported by diverse resource and agricultural sectors, and sound finances, according to the BMO Blue Book released today by BMO Capital Markets Economics and BMO Commercial Banking.
Much like the U.S. Federal Reserve's Beige Book, the BMO Blue Book combines the expertise of BMO's economists with information on current business conditions provided to BMO's commercial bankers by local businesspeople.
"Saskatchewan remains one of the country's leading economies - and our commercial customers continue to benefit from the growth," said John MacAulay, Senior Vice President, Prairies and Central Canada Division, BMO Bank of Montreal.
Real GDP grew by a solid 4.8 per cent in 2013 - thanks in part to a record crop year - but is expected to moderate to a more normalized 2.4 per cent this year.
"The agriculture sector was the big story of 2013, with a near-40 per cent jump in crop production, up to a record 38.4 million tonnes," said Robert Kavcic, Senior Economist, BMO Capital Markets. "Although this will be challenging to repeat in the year ahead, the agriculture sector remains a key sector in the region."
Pam Spady, Regional Vice President, Prairies and Central Canada Division, BMO Bank of Montreal, noted the impact of the shortage of grain shipping capacity for the bank's agricultural customers. "The actual level of the impact is difficult to gauge; we know of customers who have remained stable, and others who are in more difficulty. The good news is that grain shipments are starting to move."
Ms. Spady noted that BMO has extended its financial relief program - until the end of June 2014 - to assist commercial customers in British Columbia and the Prairies affected by a grain handling backlog. The program includes: deferral of loan payments, waiver of a new loan application and concessions on renewal fees and a flexible terms on existing and new lines of credit for 2014 (on a case-by-case basis).
Employment growth remains strong in the province, particularly in the private sector - up 4.9 per cent year-over-year in March - while the jobless rate remains the lowest in Canada.
"The population influx in the cities and the corresponding need to build infrastructure is leading to great opportunity," said Mr. MacAulay. "We are seeing new construction for transportation, universities, hospitals and schools, with corresponding benefits for trades and engineering firms. Construction in residential areas also remains solid, in part because of the influx of new residents."
Mr. Kavcic noted that both supply and demand in the housing market remains firm, due in part to steady population growth. "The province's population growth is running at the fastest pace in nearly 60 years, at 1.8 per cent year-over-year in the first quarter of 2014."
In addition, the oil sector continues to expand and now accounts for nearly 20 per cent of the province's real GDP and direct royalties account for 13 per cent of the total revenue for the Saskatchewan government.
Ms. Spady added that BMO is armed with a highly-skilled team of experts that can make lending decisions at the local level to help its commercial clients boost productivity, expand into new markets and make strategic investment decisions that will help propel growth and drive success.
The full BMO Blue Book can be downloaded at www.bmocm.com/economics.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified financial services organization based in North America. The bank offers a broad range of retail banking, wealth management and investment banking products and services to more than 12 million customers. BMO Financial Group had total assets of $593 billion and more than 45,500 employees at January 31, 2014.
Big Data engines are powering a lot of service businesses right now. Data is collected from users from wearable technologies, web behaviors, purchase behavior as well as several arbitrary data points we’d never think of. The demand for faster and bigger engines to crunch and serve up the data to services is growing exponentially. You see a LOT of correlation between “Cloud” and “Big Data” but on Big Data and “Hybrid,” where hybrid hosting is the sanest approach to the Big Data Infrastructure pro...
Jan. 18, 2017 05:30 PM EST Reads: 4,849
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Jan. 18, 2017 05:00 PM EST Reads: 1,130
Hardware virtualization and cloud computing allowed us to increase resource utilization and increase our flexibility to respond to business demand. Docker Containers are the next quantum leap - Are they?! Databases always represented an additional set of challenges unique to running workloads requiring a maximum of I/O, network, CPU resources combined with data locality.
Jan. 18, 2017 05:00 PM EST Reads: 125
In his General Session at 16th Cloud Expo, David Shacochis, host of The Hybrid IT Files podcast and Vice President at CenturyLink, investigated three key trends of the “gigabit economy" though the story of a Fortune 500 communications company in transformation. Narrating how multi-modal hybrid IT, service automation, and agile delivery all intersect, he will cover the role of storytelling and empathy in achieving strategic alignment between the enterprise and its information technology.
Jan. 18, 2017 04:45 PM EST Reads: 4,520
In his General Session at DevOps Summit, Asaf Yigal, Co-Founder & VP of Product at Logz.io, will explore the value of Kibana 4 for log analysis and will give a real live, hands-on tutorial on how to set up Kibana 4 and get the most out of Apache log files. He will examine three use cases: IT operations, business intelligence, and security and compliance. This is a hands-on session that will require participants to bring their own laptops, and we will provide the rest.
Jan. 18, 2017 04:45 PM EST Reads: 4,872
"We're bringing out a new application monitoring system to the DevOps space. It manages large enterprise applications that are distributed throughout a node in many enterprises and we manage them as one collective," explained Kevin Barnes, President of eCube Systems, in this SYS-CON.tv interview at DevOps at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jan. 18, 2017 04:45 PM EST Reads: 5,360
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists peeled away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud enviro...
Jan. 18, 2017 04:30 PM EST Reads: 4,728
In their general session at 16th Cloud Expo, Michael Piccininni, Global Account Manager - Cloud SP at EMC Corporation, and Mike Dietze, Regional Director at Windstream Hosted Solutions, reviewed next generation cloud services, including the Windstream-EMC Tier Storage solutions, and discussed how to increase efficiencies, improve service delivery and enhance corporate cloud solution development. Michael Piccininni is Global Account Manager – Cloud SP at EMC Corporation. He has been engaged in t...
Jan. 18, 2017 03:45 PM EST Reads: 4,669
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Jan. 18, 2017 03:30 PM EST Reads: 3,670
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
Jan. 18, 2017 03:30 PM EST Reads: 3,399
"LinearHub provides smart video conferencing, which is the Roundee service, and we archive all the video conferences and we also provide the transcript," stated Sunghyuk Kim, CEO of LinearHub, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 18, 2017 02:45 PM EST Reads: 1,586
A look across the tech landscape at the disruptive technologies that are increasing in prominence and speculate as to which will be most impactful for communications – namely, AI and Cloud Computing. In his session at 20th Cloud Expo, Curtis Peterson, VP of Operations at RingCentral, will highlight the current challenges of these transformative technologies and share strategies for preparing your organization for these changes. This “view from the top” will outline the latest trends and developm...
Jan. 18, 2017 02:15 PM EST Reads: 976
Things are changing so quickly in IoT that it would take a wizard to predict which ecosystem will gain the most traction. In order for IoT to reach its potential, smart devices must be able to work together. Today, there are a slew of interoperability standards being promoted by big names to make this happen: HomeKit, Brillo and Alljoyn. In his session at @ThingsExpo, Adam Justice, vice president and general manager of Grid Connect, will review what happens when smart devices don’t work togethe...
Jan. 18, 2017 02:00 PM EST Reads: 382
When you focus on a journey from up-close, you look at your own technical and cultural history and how you changed it for the benefit of the customer. This was our starting point: too many integration issues, 13 SWP days and very long cycles. It was evident that in this fast-paced industry we could no longer afford this reality. We needed something that would take us beyond reducing the development lifecycles, CI and Agile methodologies. We made a fundamental difference, even changed our culture...
Jan. 18, 2017 02:00 PM EST Reads: 925
@DevOpsSummit taking place June 6-8, 2017 at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
Jan. 18, 2017 01:00 PM EST Reads: 3,463