Most of Canada to receive emergency alert test today
The federal government will test its capacity to issue emergency alerts today, with the exception of Ontario, where the test will take place on May 15.
EU leaders on Thursday sealed a deal to provide Ukraine with 50 billion euros ($54 million) to shore up its war-ravaged economy after Hungary dropped weeks of threats to veto the measure.
The aid package -- about two-thirds loans and one-third grants to be paid out over a four-year period -- is not intended to fund arms and ammunition, which fall under a separate EU plan. Instead, it aims to stabilize Ukraine's economy after nearly two years of fighting, pay for rebuilding, and set the country up for future EU membership.
The package will help Kyiv plug budget gaps while avoiding the skyrocketing inflation seen in the first months after Russia's full-scale invasion in February 2022. Ukraine lost a third of its economic output to wartime destruction and occupation by Moscow, which took over the main heavy industry hubs in the east.
The central bank had to print money to cover state expenses and inflation shot up, reaching a high of 26%. The economy rebounded somewhat last year, but Kyiv spends almost all of its tax revenue on the war.
As of Saturday, neither President Volodymyr Zelenskyy's office nor the Ukrainian finance ministry have disclosed details of how the funds will be spent. However, statements by EU authorities, Ukrainian lawmakers and diplomats have identified key areas of concern:
Zelenskyy welcomed the assistance, in a post on X, formerly Twitter. He said that continued financial help from the EU would strengthen Ukraine's long-term economic stability, "which is no less important than military assistance and sanctions pressure on Russia."
Russia's economy, meanwhile, has weathered the unprecedented economic sanctions by Kyiv's Western allies better than expected, despite a price cap on Russian oil and natural gas and a widespread diversification in the West towards other energy sources.
In late November, Moscow adopted its biggest-ever federal budget, with defense spending overtaking social spending for the first time in modern Russian history. Record low unemployment, higher wages and targeted social spending have so far helped the Kremlin ride out the domestic impact of pivoting the economy to a war footing.
However, some analysts have called its spending plans "unsustainable in the long term," saying they expect tax rises after the presidential election in March.
The federal government will test its capacity to issue emergency alerts today, with the exception of Ontario, where the test will take place on May 15.
Prince Harry, the Duke of Sussex, has made headlines with his recent arrival in the U.K., this time to celebrate all things Invictus. But upon the prince landing in the U.K., we have already had confirmation that King Charles III won't have time to see his youngest son during his brief visit.
An Ontario man found out that a line of credit he thought was insured actually isn't after his wife of 50 years died.
Ontario Provincial Police say 64 suspects are facing a combined 348 charges in connection with a series of child sexual exploitation investigations that spanned the province.
After more than a century, Boy Scouts of America is rebranding as Scouting America, another major shakeup for an organization that once proudly resisted change.
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A P.E.I. lighthouse and a New Brunswick river are being honoured in a Canada Post series.
An Ontario man says he paid more than $7,700 for a luxury villa he found on a popular travel website -- but the listing was fake.
Whether passionate about Poirot or hungry for Holmes, Winnipeg mystery obsessives have had a local haunt for over 30 years in which to search out their latest page-turners.
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A mother goose and her goslings caused a bit of a traffic jam on a busy stretch of the Trans-Canada Highway near Vancouver Saturday.
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Three men in Quebec from the same family have fathered more than 600 children.