Compiled by Glen Hallick, MarketsFarm
WINNIPEG, June 28 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– A Russian missile destroyed a shopping centre in Kremenchuk, Ukraine on Monday killing 18 people and leaving 59 wounded. Following the attack, President Volodymyr Zelensky accused Russia of being “the largest terrorist organization in the world.” Global leaders at the G7 condemned the missile strike and pledged more assistance for Ukraine. Also, the United Nations called an emergency meeting for Tuesday. The world body will discuss Russia’s attacks on civilians in Ukraine.
Read Also
North American Grain/Oilseed Review: Canola falls, U.S. grains mixed
Canola futures on the Intercontinental Exchange suffered double-digit losses on Thursday after the release of new data from Statistics Canada….
– Just as the G7 wrapped up, several of the world leaders met again in Madrid for the NATO conference that begins Wednesday. The conference is set to discuss the Russia-Ukraine war as well as Sweden and Finland joining the mutual defense alliance. Secretary-General Jens Stoltenberg stated NATO must contend with “a more dangerous and unpredictable world” and called on the members to boost their military spending.
– China eased its COVID-19 restrictions on Tuesday, which gave a boost to the global markets. The amount of time new arrivals must spend in isolation was cut in half by the government. A reduced Chinese economy due to pandemic restrictions raised worries of a world-wide economic slowdown.
– As Sri Lanka struggles with its economic crisis, on Monday the government banned the sale of fuel for non-essential vehicles for the next two weeks. Only vehicles used for medical services, transporting food, buses and trains are allowed to fill up with fuel. The move came after months of fuel shortages intensified by the COVID-19 pandemic, soaring energy prices, tax cuts and a lack of foreign currency to pay for imports.
