By Trevor Hunnicutt
| NEW YORK

NEW YORK Exchange-traded funds have proliferated in niches ranging from cyber security to solar power and even marijuana. On Thursday, a new index fund launched that will let investors chase the growth potential of ETFs themselves.The ETF Industry Exposure & Financial Services ETF (TETF) comes to market after a record $375 billion poured into the funds globally last year.ETFs are a basket of stocks, bonds or other assets traded by individual investors and institutions.

OTTAWA The Canadian government introduced legislation on Thursday that put the country on track to make recreational marijuana use legal by July 2018, with plans to regulate production but leave the oversight of retail sales up to the provinces.


The legislation put forward by the ruling Liberal party, which made legalizing recreational marijuana part of its successful 2015 election campaign, would set the minimum legal age for use and purchase at 18, though provinces would be able to raise it.

(Reporting by Leah Schnurr and David Ljunggren)

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OTTAWA The Canadian government will introduce on Thursday legislation to legalize marijuana for recreational purposes, a source familiar with the matter said on Monday.

The Liberal government made legalizing recreational marijuana part of its successful 2015 election campaign and had said it would introduce legislation this spring.


The source declined to be identified given the sensitivity of the situation. (Reporting by Leah Schnurr and David Ljunggren;

MONTEVIDEO Uruguay's three-year process of legalizing recreational cannabis consumption reached its final stage on Thursday, when the government said it would authorize pharmacies to begin selling the substance as of July. Sixteen pharmacies have registered with the government of the tiny South American country to be able to sell marijuana for recreational purposes. That number is expected to increase to 30 in the coming months, said Juan Roballo, head of the National Drug Board. Uruguay became a global pioneer when it legalized the cultivation, distribution and consumption of marijuana in late 2013.