Global Markets: EU commits to climate spending

By Commodity News Service Canada

WINNIPEG, Feb. 21 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– A massive fire in Dhaka, the capital of Bangladesh, killed at least 81 people, according to reports out of the country. Firefighters battled the blaze in the centuries-old Chawkbazar shopping district for over 10 hours.

– Negotiators from the United States and China are meeting in Washington D.C. this week to discuss trade relations. A number of memorandums of understanding are reportedly being worked on. While a final deal is not yet expected, the March 1 deadline for increased U.S. tariffs on Chinese imports will likely be extended.

– Responding to 16-year-old climate activist Greta Thunberg of Sweden, the European Union is pledging to increase its spending on fighting climate change. “In the next financial period from 2021 to 2027, every fourth euro spent within the EU budget will go towards action to mitigate climate change,” said European Commission President Jean-Claude Juncker in Brussels.

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