Global Markets: Cannabis to become legal after midnight

By Commodity News Service Canada

Oct. 16 (CNS Canada) — The following is a glance at the news moving markets in Canada and globally.

– Cannabis becomes legal in Canada tomorrow and retailers are bracing for a surge in demand. Online sales sites begin in many jurisdictions at 12:01 a.m. Oct. 17. A recent Deloitte report estimates that legal cannabis sales in Canada could be worth C$4.34 billion in 2019.

– Saudi Arabia leaders are prepared to acknowledge that Saudi journalist Jamal Khashoggi died at the Saudi consulate in Istanbul, Turkey, according to CNN reports.
United States Secretary of State Mike Pompeo met with Saudi Arabia’s King Salmon Tuesday over Khashoggi’s disappearance last week. Turkish officials said Khashoggi was murdered inside the consulate. Saudi officials have previously denied that allegation. The latest report said Saudi officials will now say Khashoggi died during an interrogation gone wrong.

– The United States reports a US$779 billion deficit for 2018, the highest deficit in six years, caused mainly by Republican-initiated tax cuts and higher services costs on the growing national debt, the U.S. Treasury Department said.

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