Finance Minister François-Philippe Champagne unveiled a federal budget featuring significant investments in infrastructure, housing, and the military, alongside public service cuts to address economic challenges. The budget projects a deficit of approximately $78 billion for the 2025-26 fiscal year, with $141 billion in new spending over five years, partially offset by $51.2 billion in cuts. Key highlights include investments in high-speed rail, ports, and critical minerals, as well as a reduction in immigration, and a potential end to the emissions cap. The government aims to foster business development through tax incentives and has allocated substantial funds for the Canadian Armed Forces.
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Since September, North Korea has deployed approximately 5,000 military construction troops and 1,000 engineers to Russia, possibly for infrastructure reconstruction and demining efforts near the Ukrainian border. This deployment, along with reports of over 10,000 North Korean personnel stationed near the border, is part of Pyongyang’s broader support for Russian operations, including the first confirmed instance of North Korean troops directing Russian strikes. Analysts believe this cooperation enables North Korea to offset the effects of international sanctions, potentially in exchange for military technology and resources from Moscow. Furthermore, intelligence agencies are monitoring active recruitment and training efforts in North Korea, with concerns that up to 40,000 additional workers, including IT specialists, may be deployed in violation of UN sanctions.
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The Ukrainian Navy successfully employed a suicide drone to strike an elite Russian special forces unit on the Sivash drilling rig in the Black Sea, which Russia had seized in 2014 and equipped with surveillance systems. Following the strike, Russian propagandists attempted to portray the incident as a victory, while the Ukrainian HUR destroyed Russian air defense facilities in occupied Crimea, including a S-400 Triumph air defense control point and radar systems. Espanyola, a Russian naval detachment formed in 2024 with ties to private military companies, was also operating in the area near the rigs. The Ukrainian military continues to carry out special operations in the area.
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The UK has provided Ukraine with additional Storm Shadow cruise missiles, strengthening its long-range strike capabilities against targets within Russia. These missiles, capable of hitting targets up to 560 kilometers away, have already been used to strike sites in Russian-occupied territories. This transfer follows Ukraine’s requests for U.S.-made Tomahawk missiles, which offer an even greater range, though a decision on supplying these has been postponed. The recent delivery aims to replenish stockpiles before winter, amid expectations of intensified Russian attacks.
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On November 3rd, Russian forces fatally struck two civilians and their dog in Kruhliakivka, Kupiansk district, utilizing a drone strike. The victims were reportedly walking under a white flag, a recognized symbol of truce, when targeted. The 77th Aeromobile Brigade reported the absence of military targets nearby, suggesting the act was intended to falsely accuse Ukraine. This incident highlights the ongoing use of drone strikes, particularly in the Kharkiv region, which have been causing civilian casualties.
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Russia’s seaborne crude shipments have plummeted, marking the steepest decline since January 2024, following new US sanctions targeting major exporters and causing key buyers to pause purchases. This has significantly reduced Moscow’s oil revenue, with exports dropping to 3.58 million barrels per day. The sanctions have led to a build-up of Russian oil at sea, as refiners in major importing countries like China and India cancel cargoes and seek alternative suppliers. While some shipments continue, the future of Russian oil exports remains uncertain as buyers navigate the complex sanctions environment.
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The German government has greenlit a historic minimum wage increase, the largest in the nation’s history. This rise will unfold in two phases, commencing on January 1, 2026, when the minimum wage will climb from €12.82 to €13.90 per hour. Further increasing on January 1, 2027, the wage will reach €14.60 per hour, impacting the approximately six million workers currently earning minimum wage.
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A Chinese court has sentenced five top members of the Bai family, a notorious Myanmar mafia, to death for their involvement in large-scale scam operations. The 21 convicted individuals were found guilty of fraud, homicide, and other crimes related to the trafficking and abuse of workers, many of whom were Chinese, within their criminal compounds. These activities, centered in Laukkaing and involving over 29 billion Chinese yuan, also resulted in multiple deaths and injuries. This harsh sentencing is part of China’s broader crackdown on scam networks in Southeast Asia, aimed at sending a clear message to other criminal syndicates.
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In an online address, Ukrainian President Volodymyr Zelenskyy emphasized the necessity of robust support from both the European Union and the United States to halt Russia’s aggression. Zelenskyy acknowledged the EU’s assistance with gas imports, equipment, and energy restoration, but stressed the need for combined efforts with the US to deter Putin. He specifically highlighted the importance of US support, including long-range weapons and further sanctions, and expressed hope for engagement from US leadership in this endeavor.
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Overnight on November 4, a Lukoil oil refinery in Russia’s Nizhny Novgorod Oblast was targeted by Ukrainian drones in a joint operation involving multiple branches of the Ukrainian military. The attack, employing over 50 drones, reportedly struck the refinery during repairs to a critical processing component. Simultaneously, multiple other regions within Russia experienced drone attacks, including sites in Voronezh, Belgorod, Kursk, Lipetsk, Volgograd, Sverdlovsk, and the Republic of Bashkortostan. These attacks align with Ukraine’s strategy of targeting facilities that contribute to Russia’s war effort, including energy infrastructure.
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John Q. Hosedrinker