Compiled by MarketsFarm
WINNIPEG, Aug. 18 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
- Wildfires continued to pose a major threat in Canada, with Kelowna having issued evacuation orders on Friday for the British Columbia city’s northern neighbouhood. Kelowna, with about 150,000 people, has been under threat since Tuesday when a fire jumped Lake Okanagan. Meanwhile, evacuation efforts continued in Yellowknife as 22,000 people flee towards Alberta. Besides primarily exiting the Northwest Territories capital by highway, 10 flights ferried out evacuees on Thursday with 22 more flights on Friday.
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- Ukraine will acquire used F-16 jet fighters from Denmark and the Netherlands after the United States gave its approval to the deal on Friday. The multi-role F-16 is manufactured in the U.S. by Lockheed-Martin. A report said the training of Ukrainian pilots will be undertaken by 11 air forces and first F-16’s are likely to become operational with the Ukrainian Air Force during the spring of 2024. Ukraine has long sought the versatile aircraft as it’s being phased out by other countries. The U.S. withheld its approval on the pretext that the first F-16’s are unlikely to make much of a difference in the Russia-Ukraine war.
- In harking back to the Cold War strategy of containment, the U.S. will host the first ever trilateral meeting with the leaders of South Korea and Japan on Friday. With rising tensions between China and the U.S., the latter is reinforcing its alliances with South Korea and Japan. However historic animosity remains in South Korea following Japan’s brutal colonization of the peninsula that lasted from 1905 to 1945. As China has modernized and strengthened its military over the last few decades, South Korea and Japan have followed suit.
