Global Markets: Relative unknown picked as new Russian PM

By MarketsFarm

WINNIPEG, Jan. 16 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Former Russian tax official Mikhail Mishustin will serve as the country’s new prime minister after the previous government stepped down. President Vladimir Putin handpicked the relatively unknown technocrat to lead the government while constitutional reforms are implemented. The reforms, which will shift more power to the Parliament and away from the president, are expected to help Putin retain some power after his presidential term ends in 2024.

– U.S. President Donald Trump’s impeachment hearings have moved to the trial stage in the Senate, after the lower House of Representatives formally presented the two charges on Wednesday. It is generally expected that Trump will be acquitted by the Republican-led Senate.

– The Canadian military is resuming some operations in Iraq after activities were suspended due to concerns over increasing tensions between the U.S. and Iran.

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