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Slovakia Warns of Power Cut to Ukraine Amid Dispute Over Russian Oil Transit

                                                       Slovakia's Prime Minister Robert Fico A diplomatic rift has emerged between Slovakia and Ukraine after Bratislava warned it may halt electricity exports to its eastern neighbor unless Kyiv resumes the flow of Russian oil through the Druzhba pipeline. The dispute centers on transit fees and operational conditions that Ukraine oversees as the pipeline crosses its territory. Slovakia, heavily dependent on Russian crude for its key refinery in Bratislava, argues that any disruption threatens its energy security and economy. Ukrainian officials, however, maintain that their actions comply with existing regulations and reflect broader efforts to reduce reliance on Russian energy amid the ongoing conflict. The standoff highlights the fragile interdependence of Central and Ea...
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Canadian Retail Sales Rebound in December, Boosting Consumer Confidence

 

Canadian consumers went on a holiday shopping spree at the end of last year, after reining in their spending just a month earlier. Receipts for retailers jumped 0.8% in December, the biggest increase since April. This followed a 0.2% decrease in November, which missed the median estimate of a flat reading in a Bloomberg survey. In volume terms, retail sales also edged down 0.2% that month. The early estimate for December suggests sales increased 0.8% that month, but warned the figure is subject to revision.

The rebound in retail sales in December is a positive sign for the Canadian economy. The holiday season is a crucial period for retailers, and the increase in sales indicates that consumer confidence is on the rise. The report also highlights that the pullback in November still highlights some spending weakness for consumers, who are facing higher interest rates and many of whom are due to renew their mortgages this year.


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