By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- As Ramadan is set to begin for Palestinians on Monday, Israel and Hamas had yet to agree to the ceasefire in Gaza. With the Muslim holy month to continue into April, Israel tightened security measures throughout the country and especially in the Old City of Jerusalem. Since the war began Oct. 7, more than 30,000 civilians are estimated to have been killed.
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- India and the four members of the European Free Trade Association signed a US$100 billion trade deal on Monday following nearly 16 years of negotiations. Terms include India lifting import tariffs on industrial goods from Iceland, Liechtenstein, Norway and Switzerland in return for the four to invest in India during the next 15 years. Meanwhile, trade talks between India and the United Kingdom continued to press ahead after two years.
- Oil giant Saudi Aramco reported on Sunday that its profits plummeted almost 25 per cent in 2023 at US$121 billion, due to production cuts and weaker oil prices. However, that’s still the company’s second-best annual profit following the previous year’s record of US$161 billion. The Saudi regime is said to own about 95 per cent of the company.
