Compiled by MarketsFarm
WINNIPEG, April 11 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
- Canadian officials were informed over the weekend by their United States counterparts that Russian-backed hackers may have gained access to the country’s natural gas infrastructure in February. The revelation is part of a mass of sensitive intelligence documents that were recently leaked on social media. Canada’s Communications Security Establishment (CSE) issued a statement on Monday that said, “We do not comment on specific cybersecurity incidents, nor do we confirm businesses or critical infrastructure partners that we work with. We further do not comment, whether to confirm or deny on allegedly leaked intelligence.” The U.S. said it is attempting to verify the validity of the reports that were leaked, of which some were said to have been altered.
Read Also
Global Markets: PM, premiers to meet for summit
Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. –…
- The International Monetary Fund (IMF) stated on Tuesday that interest rates around the world are expected to come down due to low productivity and an aging population. For more than a year numerous central banks have hiked their key interest rates as a means to get inflation under control, which the IMF deemed as temporary measures. However, it didn’t suggest as to when rates would recede but said they would return to pre-pandemic levels. Also, the IMF said Germany and the United Kingdom would be the only members of the G20 to see their economies contract in 2023, with China leading the world in growth at more than five per cent. Canada is to be third at about 1.5 per cent growth.
- As means to help rectify sour relations, Australia and China are set to end their trade dispute over barley. In 2020, China slapped high tariffs on imports of Australian barley, along with beef and wine. Reports alleged China did so because Australia was becoming closer to the United States. In retaliation, Australia filed a complaint with the World Trade Organization (WTO), alleging China lacked the justification to impose such levies. As of Tuesday, Australia said it’s prepared to suspend its complaint and China stated it’s reviewing the tariffs.
