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Russia Strikes Ukraine’s Energy Grid Amid Fears of US Missile Support

  Russia launched another wave of drone and missile strikes on Ukraine’s power infrastructure, intensifying its campaign to cripple the country’s energy supply ahead of winter. The overnight assault left parts of Kyiv and several regions in darkness, with emergency crews racing to restore electricity to thousands of homes. The attacks come as Moscow voices alarm over the potential delivery of US long-range Tomahawk missiles to Ukraine, which Russian President Vladimir Putin warned would mark a “new level of escalation” in the conflict. Ukrainian officials condemned the strikes as deliberate attempts to weaponize winter against civilians. President Volodymyr Zelenskyy vowed to strengthen air defenses and pressed Western allies for additional support to counter Russia’s growing aerial offensive. As temperatures drop, the battle over Ukraine’s energy grid is becoming a central front in the war—one that could determine both military momentum and civilian resilience in the months ahe...
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China’s Central Bank Cuts Reserve Requirement Ratio for Banks to Boost Slowing Economy

 

China’s central bank has announced a cut in the reserve requirement ratio for banks to help boost the slowing economy. The move is expected to provide 1 trillion yuan ($141 billion) in long-term liquidity to the market. The deposit reserve requirement will be cut by 0.5 percentage points as of February 5th, 2024. 

The decision comes as the world’s second-largest economy faces multiple challenges, including a faltering recovery from the shocks of the COVID-19 pandemic. The central bank’s moves appear to be part of a concerted effort to stabilize the markets and instill greater confidence in the outlook for the economy.


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