Global Markets: Canada marks first annual National Day for Truth and Reconciliation

Over 150,000 First Nations, Metis and Inuit children forcibly taken

Compiled by Glen Hallick, MarketsFarm

WINNIPEG, Sept. 30 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Thursday marks Canada’s first National Day for Truth and Reconciliation, which honours the children, survivors, families and communities affected by the residential school system. For more than 100 years, over 150,000 First Nations, Metis and Inuit children were forcibly taken from their families to attend church-run residential schools as a means to ‘remove the Indian’ from them. The nearly 140 schools across the country were places of physical, sexual and mental abuse, as well as death. The tragedy greatly intensified this year with the discovery of thousands of unmarked graves – many believed to be of the children who perished at these schools. In June, Parliament passed legislation making Sept. 30 a day to reflect about Canada’s long history of discrimination towards the First Nations, Metis and Inuit.

– Enbridge announced on Wednesday that its Line 3 will come on online as of Oct. 1, although the C$9.3 billion project is not yet fully complete. The 1,765-kilometer pipeline stretching from Alberta to Superior, Wisc. is to add a 370,000-barrel per day capacity to existing lines. The project was first announced in 2014 and faced a series of environmental battles. Line 3 will eventually replace pipelines laid down in the 1960s.

– United States General Frank McKenzie, head of the U.S. Central Command, stated on Wednesday that the peace deal brokered by the Trump administration with the Taliban led to the rapid collapse of Afghanistan. In speaking with the House Armed Services Committee, McKenzie said Afghanistan became unstable once U.S. troop levels in the country fell below 2,500. Diplomatic efforts between the U.S. and the Taliban became more difficult after Joe Biden succeeded Donald Trump, although the new president secured an agreement to push back the withdrawal deadline from May to August.

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