National Business

TORONTO — General Motors Co. and South Korea's Posco Chemical announced a deal Monday to build a plant in Quebec to produce material for batteries to be used in electric vehicles (EV). The companies said the new facility in Becancour, Que.

HALIFAX — Strict COVID-19 measures will be enforced when cruise ships return to Canada's ports next month after a nearly two-year hiatus, federal Transport Minister Omar Alghabra announced on Monday.

Alimentation Couche-Tard Inc.

TORONTO — Canadians took out fewer new mortgages even before interest rates began to rise last week, but consumer debt continued to increase in the fourth quarter, Equifax said in a report. The company said Monday the number of new mortgages fell 8.

ZAHONY, Hungary (AP) — The violin was so beloved by Myroslava Sherbina it was the one item she took as she fled Ukraine, along with the clothes she wore. But the instrument has remained silent since the start of Russia's invasion of her country.

MISSISSAUGA, Ont. — Cargojet Inc. swung to a $102-million profit in the fourth quarter as revenue surged 26.1 per cent on increased demand for its domestic, charter and other aircraft services. The Mississauga, Ont.

MONTREAL — Air Transat says it is relaunching a significant number of its routes for the busy summer travel season including destinations in Europe and the United States.

TORONTO — Allied Properties Real Estate Investment Trust says it has purchased six buildings from Choice Properties Real Estate Investment Trust for $794 million.

CALGARY — Vermilion Energy Inc. reported a fourth-quarter profit of $344.6 million compared with a loss of $57.7 million a year earlier, helped by higher oil and natural gas prices.

TORONTO — Five things to watch for in the Canadian business world in the coming week: Trade report International merchandise trade numbers for January are expected from Statistics Canada on Tuesday.