Canada accelerates approvals for a new oil pipeline to the West Coast

Canada intends to accelerate approval procedures for a proposed new pipeline extending to the West Coast to export crude oil, in a move aimed at opening a faster path to the project, Prime Minister Mark Carney announced Thursday.

Carney said that the government will officially list the Pacific Link pipeline project among “projects of national interest,” allowing it to be subjected to a single federal regulatory review process, aiming to complete this process by September 1, 2027.

The move comes as part of Ottawa's efforts to accelerate infrastructure projects of strategic importance and enhance Canada's ability to export crude oil through its west coast.

European Central Bank President Christine Lagarde called on Europe to develop its own capabilities in the field of artificial intelligence, warning that European financial institutions' reliance on advanced technologies controlled by the United States and China could put them at risk of losing access to them.

Lagarde said, during a conference at the European Central Bank on Thursday, that the development of the most advanced artificial intelligence models is currently concentrated in the United States and China, which raises questions about controlling access to technologies that European financial institutions may become highly dependent on.

She warned that Europe should not become dependent on “a switch controlled by another party,” noting that the issue of controlling access to these technologies was previously only a possibility, but “it has no longer been so since this summer.”

American restrictions revealed the fragility of accreditation

Lagarde cited a US measure to control technology exports in June, which led to a sudden interruption in European users' access to some advanced artificial intelligence models.

Access to the form returned to general users weeks later, but the more sensitive form remained limited to institutions that obtain approval from US authorities.

Lagarde's statements come at a time when the European Union seeks to reduce its technological dependence on the United States and China.

Bloomberg has opened a new office in the King Abdullah Financial Center in Riyadh, in a step to expand its presence in Saudi Arabia.

In conjunction with the opening of the office, the company launched the “Bloomberg Financial Lab” and the “Bloomberg Financial Pathways” initiative in Saudi Arabia, based on the memorandum of understanding concluded with the Financial Academy in October 2025.

Bloomberg also disclosed its cooperation with the Turquoise Mountain organization to develop professional and entrepreneurship skills, with a primary focus on women in Saudi Arabia.

The company also announced the launch of a new cooperation fund in partnership with the Synergos organization to support social entrepreneurs in Saudi Arabia through joint projects and capacity-building programs, with a focus on promoting entrepreneurship, providing economic opportunities, and stimulating social innovation.

To celebrate the opening of the office, Bloomberg hosted a special exhibition for the products of its financial platform, “Bloomberg Terminal,” to provide an opportunity for clients and partners to explore the latest findings in the fields of data, analytics, and technology.