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Global Markets: UN initiates tougher sanctions against North Korea

By Commodity News Service Canada

Sept. 12 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– The United States, Japan and South Korea are welcoming new United Nations sanctions against North Korea in efforts to discourage it from further nuclear weapons development. UN member nations are required to stop textile imports from North Korea and limit on energy supplies that can be exported to the country. The U.S. said the deal will cut off 55 per cent of petroleum products going to North Korea.

– Florida is allowing some residents from hurricane ravaged areas to return home and has reopened some airports, after Hurricane Irma tore through the state. Irma has killed at least 41 people in the Caribbean Islands and Florida. Insured property damage in Florida is expected to reach US$20-US$40 billion.

– Canadian oil sands executives are trying to win over European investors, many of whom see the industry as an environmental hazard. Suncor Energy Inc. and Canadian Natural Resources Ltd. are scheduled to address investors at an October forum in London, hosted by Toronto Domininion Bank.

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