11:38:23 EDT Mon 19 Oct 2026
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Canadian Imperial Bank of Commerce (CIBC)
Symbol CM
Shares Issued 912,845,429
Close 2026-10-16 C$ 158.87
Market Cap C$ 145,023,753,305
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Globe says CIBC's Tal lauds Ottawa's immigration moves

2026-10-19 07:16 ET - In the News

The Globe and Mail reports in its Saturday, Oct. 17, edition that highly paid foreign nationals in Canada, such as doctors, engineers and programmers, now have an advantage in applying for permanent residence. The Globe's Marie Woolf writes that Immigration Minister Lena Metlege Diab announced Friday that Express Entry applicants will receive extra points for having a year of experience in a high-wage job in Canada or a high-paying job offer. Extra points will enhance the chances of skilled foreign nationals, like academics and tech workers, receiving an invitation from the Immigration Department for permanent residence. The move responds to economists' calls to prioritize immigration of highly skilled workers needed for growth and to address labour gaps, rather than large numbers of unskilled workers. CIBC economist Benjamin Tal said Friday he agrees that the focus for immigration "should be on high-skilled individuals." Mr. Tal added: "But it also needs to focus on skilled labour such as trades where Canada has a chronic shortage. If one of the goals of housing policy is to reduce the cost of building, such a move will be in the right direction toward improving housing affordability."

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