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Ukraine Faces Deepening Power Shortages After Russian Strikes

A resident shows a journalist where a Russian drone struck the roof of an apartment building, depriving its residents of water, heat and electricity, in Kyiv. Ukraine is confronting one of its most severe energy shortfalls since the start of the full‑scale invasion, with the country currently able to supply only about 60% of its electricity needs. A new wave of Russian missile and drone attacks has heavily damaged power plants and transmission infrastructure across multiple regions, pushing the grid to the brink. Officials report that nearly every major power‑generating facility has been hit in recent weeks. Cities such as Kyiv, Kharkiv, Odesa, and Dnipro have experienced rolling blackouts, leaving millions of residents coping with limited heating, lighting, and communications during the winter season. Ukraine’s government has warned that the situation remains extremely challenging. Engineers are working around the clock to repair damaged facilities, but repeated strikes have slowed...
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Canadian Service Sector Shrinks for Seventh Straight Month in December

 


According to S&P Global Canada services PMI data, the Canadian service sector shrank for the seventh consecutive month in December 2023, as elevated borrowing costs weighed on the housing market. The headline business activity index edged up to 44.6 in December from a near three-and-a-half-year low of 44.5 in November. However, it remained well below the 50 threshold that separates growth from contraction.

The Canadian service sector is a significant contributor to the country’s economy, and its contraction could have far-reaching implications. The sector includes industries such as finance, insurance, real estate, professional services, and retail trade. The contraction of the service sector could lead to a decline in employment opportunities and a decrease in consumer spending.


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