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Beleaguered Vancouver biotech QLT Inc. (TSX:QLT; Nasdaq:QLTI) has closed its special share buyback, distributing approximately US$50 million back to shareholders.

Metro Vancouver's industrial properties vacancy rate increased to 2.5% in the fourth quarter compared with 1.5% in the same period last year.

Retail sales in B.C. are forecast to fall 1.2% in 2009, erasing almost all the increases in sales in 2008, according to Central 1 Credit Union. Retail sales rose 1.3% last year, down from a robust 6.7% increase in 2007.

Financially stricken miner NovaGold Resources Inc. (TSX: NG) has secured a US$60 million lifeline that would make a New York-based private company its largest shareholder and likely save it from being dropped from the Toronto Stock Exchange.

Despite a 7.2% year-over-year decline in B.C. retail sales in November, many retail sectors increased sales in the month before the Christmas shopping season.

The B.C. Securities Commission has issued cease-trade orders against 53 public companies trading on the U.S. over-the-counter markets for failing to file financial statements .

Global financial markets are expected to rebound by mid-2009, with equities seen as the most attractive asset class, according to a Mercer Canada forecast released Thursday.

The provincial government has approved six new applied degree programs for British Columbians. Victoria's Royal Roads University will offer its first doctoral degree in social sciences.

The B.C. Securities Commission Chartered has banned accountant Henry Jung from trading securities in B.C. for violating securities laws when he distributed debentures to Canadian investors.

BC Ferries has secured a $108 million loan from a German bank to finance the purchase of the new Northern Expedition ferry. The 12-year term loan with a subsidiary of German export credit bank KfW Bankengruppe bears annual interest of 2.