Global Markets: Huawei exec’s extradition hearing begins today

By MarketsFarm

WINNIPEG, Jan. 20 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– ¬The extradition hearing for Huawei executive Meng Wanzhou gets underway today in Vancouver. Meng was arrested by Canadian authorities in December 2018 at the request of the United States, where she’s accused of violating U.S. sanctions against Iran. Her arrest led to China severely curtailing its canola imports from Canada and to the arrest of a pair Canadians, who are facing trial in China on espionage-related charges. The British Columbia Supreme Court will hear arguments regarding whether the principle of ‘double criminality’ applies to Meng’s case or not.

– Markets in the U.S. are closed today for Martin Luther King Jr. Day. King led a crusade for civil rights in the U.S. from the mid-1950’s to the late 1960’s through the use of non-violent protests and civil disobedience. King was awarded the Nobel Prize for Peace in 1964. He was assassinated on April 4, 1968 in Memphis, Tenn. The first official nation-wide observance of Martin Luther King Jr. Day was in 1986.

– Relations between India and Malaysian continue on a sour note, as the trade ministers from each country won’t meet at the world economic forum this week in Davos, Switzerland. After the Malaysian government criticized the Indian government for its highly controversial citizenship law, the latter sought to halt palm oil imports from Malaysia. India’s new citizenship law is said to discriminate against Muslims.

– A multi-national conference in Berlin attempted to broker a cease-fire to Libya’s civil war on Sunday. The conflict has been raging in Libya for several months, with several Middle East, African and European countries taking sides. Although leaders from Libya’s internationally-recognized Government of National Accord and the rebel Libyan National Army attended the conference, they didn’t participate in the talks.

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