Global Markets: China claims Canadians set free for health reasons

Compiled by Glen Hallick, MarketsFarm

WINNIPEG, Sept. 27 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– China said on Monday that it released Michael Kovrig and Michael Spavor for health reasons, claiming there wasn’t a connection between the two Michaels with the release of Huawei executive Meng Wanzhou. The Canadians were detained by Chinese officials shortly after Meng was arrested by Canadian officials at the request of the United States in December 2018. Subsequently they were charged with espionage, tried and found guilty. Spavor was sentenced to 11 years in prison and Kovrig’s had yet to be announced. On Friday Meng reached an agreement with U.S. prosecutors that saw her fraud charges dropped, and in Canada her extradition process was halted.

– In receiving 25.9 per cent of the votes cast, the Social Democrats scored the largest share of the seats in the German federal election on Sunday. However, the long-ruling Christian Democratic Union (CDU) said they will attempt to form another coalition government. The CDU received 24.1 per cent in its worst-ever showing. Social Democrat leader Olaf Scholz and CDU leader Armin Laschet will each attempt to form a coalition with the other political parties in succeeding Angela Merkel, Germany’s chancellor for the last 16 years.

– A succession of world leaders are scheduled to speak at the United Nations General Assembly on Monday, which started with Israeli Prime Minister Naftali Bennett. He will be followed by representatives from the United Arab Emirates, Oman, Yemen and Syria. Bennett used his time to compliment the normalizing of relations between Israel and a number of Arab countries in the Middle East, but he leveled accusations against Iran of trying to rule the region under a “nuclear umbrella.” Iran denied that it has been developing nuclear weapons.

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