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Canada’s economic growth projected to be about 1% in the first half of 2024

Canada is a country with a thriving Jewish community and has traditionally offered the security of a strong economy for residents. The national economic outlook is naturally something that everyone in Canada’s Jewish community keeps track of – especially those involved in business in the various provinces.

With this in mind, the July 2023 Monetary Policy Report from the Bank of Canada made for interesting reading, projecting a moderate economic growth figure of around 1% for the first half of 2024. This is in line with growth figures that had been forecast for the second half of 2023, and sees the country’s economy remain on a stable footing.

Steady projected growth for first half of 2024

Although projected economic growth of around 1% in early 2024 is not as impressive as figures of around 3.4% in 2022 and 1.8% in 2023, it is certainly no cause for alarm. But what might be behind it?

Higher interest rates are one major factor to consider and have had a negative impact on household spending nationally. This has effectively seen people with less spending power and businesses in Canada generating less revenue as a result.

Interest rate rises have also hit business investments nationally, and less money is being channelled into this area to fuel Canada’s economic growth. When you also factor in how the weak foreign demand for Canadian goods and services has hit export growth lately, the projected GDP growth figure for early 2024 is understandable.

Growth in second half of 2024 expected

Although the above may make for interesting reading for early 2024, the Bank of Canada’s report does show that economic growth is expected to pick up in the second half of the year. This is projected to be due to the decreasing effect of high interest rates on the Canadian economy and a stronger foreign demand for the country’s exports.

Moving forward from this period, it is predicted that inflation will remain at around 3% as we head into 2025, and hit the Bank of Canada’s inflation target of 2% come the middle of 2025. All of this should help the country’s financial status remain stable and prove encouraging for business leaders in the Jewish community.

Canada’s economic growth mirrors iGaming’s rise

When you take a look at the previous growth figures Canada has seen and also consider the growth predicted for 2024 (especially in the second half of the year), it is clear that the country has a vibrant, thriving economy.

This economic growth is something that can be compared with iGaming’s recent rise as an industry around the country. In the same way as Canada has steadily built a strong economy over time, iGaming has transformed itself into a powerful, flourishing sector.

This becomes even clearer when you consider that Canadian iGaming has been a major contributor to the sustained growth seen in the country’s arts, entertainment and recreation industry, which rose by around 1.9% in Q2 of 2023. The healthy state of online casino play in Canada is also evidenced by how many customers the most popular casino platforms attract and how the user experience these operators offer has enabled iGaming in the country to take off.

This, of course, is also something that translates to the world stage, where global iGaming revenues in 2023 hit an estimated $95 billion. iGaming’s global market volume is also pegged to rise to around $130 billion by 2027. These kinds of figures represent a sharp jump for iGaming worldwide and show how the sector is on the ascent.

Future economic outlook for Canada in line with global expectations

When considering the Canadian economic outlook for 2024, it is often useful to look at how this compares with global financial predictions. In addition to the rude health of iGaming in Canada being reflected in global online casino gaming, the positive economic outlook for the country is also broadly in line with expectations for many global economies.

Global growth is also predicted to rise steadily in the second half of 2024 before becoming stronger in 2025. This should be driven by the weakening effects of high interest rates on worldwide economic prosperity. With rate cuts in Canada already expected after Feb 2024’s inflation report, this could happen in the near future.

The performance of the US economy is always of interest in Canada, as this is the country’s biggest trading partner. Positive US Q2 performances in 2023, powered by a strong labor market, good consumer spending levels and robust business investments, were therefore a cause for optimism. As a US economy that continues to grow is something that Canadian businesses welcome, this can only be a healthy sign.

Canada set for further growth in 2024

Local news around Canada can cover many topics but the economy is arguably one of the most popular. A projected GDP growth figure of around 1% for Canada’s economy shows that the financial state of the country is heading in the right direction. An improved financial outlook heading into the latter half of 2024/2025 would make for even better reading, and the national economy should become even stronger.

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World Leaders Show Caution on Trump’s Broader ‘Board of Peace’ Amid Fears for UN

FILE PHOTO: U.S. President Donald Trump is interviewed by Reuters White House correspondent Steve Holland (not pictured) during an exclusive interview in the Oval Office in the White House in Washington, D.C., U.S., January 14, 2026. REUTERS/Evelyn Hockstein/File Photo

Governments reacted cautiously on Sunday to US President Donald Trump’s invitation to join his “Board of Peace” initiative aimed at resolving conflicts globally, a plan that diplomats said could harm the work of the United Nations.

Only Hungary, whose leader is a close Trump ally, gave an unequivocal acceptance in response to the invitations, which have been addressed to some 60 nations and began arriving in European capitals on Saturday, according to diplomats.

Other governments appeared reluctant to make public statements, leaving officials to express concerns anonymously about the impact on the work of the U.N..

The board would be chaired for life by Trump and would start by addressing the Gaza conflict and then be expanded to deal with other conflicts, according to a copy of the letter and draft charter seen by Reuters.

Member states would be limited to three-year terms unless they pay $1 billion each to fund the board’s activities and earn permanent membership, the letter states.

“This simply offers permanent membership to partner countries who demonstrate deep commitment to peace, security, and prosperity,” the White House said in a post on X.

Italian Prime Minister Giorgia Meloni, visiting South Korea, told reporters her country was “ready to do our part,” although it was not clear whether she was specifically referring to Gaza or the broader peace.

Canada’s Prime Minister Mark Carney said on Sunday he had agreed to Trump’s Board of Peace for Gaza in principle although details were still being worked out.

The Board of Peace’s mandate was only authorized by the United Nations Security Council through 2027 and was solely focused on the Gaza conflict.

‘DARK TIMES’

The inclusion of a “charter” in the invitation letter stoked concerns among some European governments that it could undermine the work of the United Nations, which Trump has accused of not supporting his efforts to end conflicts around the world.

“It’s a ‘Trump United Nations’ that ignores the fundamentals of the U.N. charter,” said one diplomat.

Three other Western diplomats said it looked as if it would undermine the United Nations if it went ahead.

A further three diplomats and an Israeli source said that Trump wanted the Board of Peace to eventually have a broader role beyond Gaza that would oversee the other conflicts that Trump has said he has resolved.

The leaders of France, Germany, Italy, Hungary, Australia, Canada, the European Commission and key Middle East powers were among those invited to sit on the Board of Peace, according to officials.

“Declaring that durable peace requires pragmatic judgment, common-sense solutions, and the courage to depart from approaches and institutions that have too often failed,” the document showed.

In what appeared to be directed at the United Nations, the document added that there was a “need for a more nimble and effective international peace-building body.”

Trump, who covets the Nobel Peace Prize, said in the letter that the board would convene in the near future, adding: “This board will be one of a kind, there has never been anything like it!”

In public comments in response to a reporter’s question, a senior UN official did not address the plan directly, but said the United Nations was the only institution with the moral and legal ability to bring together every nation, big or small.

“And if we question that … we fall back and very, very, dark, times,” Annalena Baerbock, president of the United Nations General Assembly, told Sky News, adding that it was up to individual states to decide what to do.

The White House on Friday named some individuals who will sit on the board, which would outlive its role supervising the temporary governance of Gaza, under a fragile ceasefire since October.

They included US Secretary of State Marco Rubio, President Donald Trump’s special envoy Steve Witkoff, former British prime minister Tony Blair and Trump’s son-in-law, Jared Kushner.

Israel and the Palestinian terrorist group Hamas signed off on Trump’s plan, which says a Palestinian technocratic administration will be overseen by an international board, which will supervise Gaza’s governance for a transitional period.

TRUMP GOES FOR GLOBAL PEACE ROLE

“It’s going to, in my opinion, start with Gaza and then do conflicts as they arise,” President Donald Trump told Reuters in an interview earlier this week.

Many rights experts and advocates have said that Trump overseeing a board to supervise a foreign territory’s governance resembles a colonial structure, while Blair’s involvement was criticized last year due to his role in the Iraq war and the history of British imperialism in the Middle East.

The White House did not detail the responsibilities of each member of the board. The names do not include any Palestinians. The White House said more members will be announced over the coming weeks.

It also named a separate, 11-member “Gaza Executive Board” to support the technocratic body.

This would include Turkish Foreign Minister Hakan Fidan, U.N. Middle East peace coordinator Sigrid Kaag, United Arab Emirates International Cooperation Minister Reem Al-Hashimy, Israeli-Cypriot billionaire Yakir Gabay and officials from Qatar and the United Arab Emirates.

Israeli Prime Minister Benjamin Netanyahu’s office said the composition of this board had not been coordinated with Israel and contradicted its policy – possibly a reference to Fidan’s presence, as Israel objects to Turkish involvement. Israel’s government also has a tense relationship with Qatar. An Israeli government spokesperson declined to comment beyond the statement.

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How the Israeli police’s first trans volunteer fought bigotry on the force

From the beginning of the biographical documentary The First Lady, Efrat Tilma makes it clear she has mixed feelings about the film, which details how she became the first trans woman to volunteer in Israel’s police department. When asked why she wanted to make the movie, she tells one of the directors, “I didn’t want to. You asked me.” This prickly demeanor persists throughout the film, although she later acknowledges that she wants “to show people that a trans woman is just like any other woman, like any other person.”

Tilma starts her story in 1964, the year she first tried living as a woman. Using archival footage, animation, and present-day interviews, directors Udi Nir and Sagi Bornstein present a moving portrait of Tilma’s life, unveiling how the burdens of her past have followed her into the present.

When Tilma was 14, she often wandered the streets of Tel Aviv to escape her abusive father. There she met another trans woman, Gila Goldstein, who introduced her to a whole network of trans women who taught Tilma about hormones and gender reassignment surgery. That same year, a man held her hostage in his apartment for a day and a half and sexually assaulted her. Not long afterwards, she says, an Israeli police officer threatened to kill her for dressing as a woman.

These experiences made her determined to carve her own path in spite of obstacles or the opinions of others, including the film directors. In one scene, as the team records her coming out of her apartment building, she strikes several poses.

“Natural, Efrat. We said natural!” a director reminds her.

“Kiss my ass!” Tilma responds, before strutting away.

But behind all the bravado is a vulnerable human being, who spends her first moment in the film nervously rehearsing the speech she is going to give at a 2023 Pride celebration in Israel. Tilma acknowledges that she’s not sure she’s been able to process her trauma and still carries it with her.

Tilma as an airline stewardess. Courtesy of Efrat Wilma

After leaving Israel in 1967, Tilma spent nearly four decades living in Europe, where she created a new life for herself as a woman. She performed in nightclubs, worked as an airline stewardess, got sex reassignment surgery in Morocco, married a man, and, nearly two decades later, divorced him. In 2005, she finally moved back to Israel and, on a whim, began volunteering with the Israel Police.

She wasn’t open about her gender identity at first, given the negative way she saw her colleagues treat trans women on the street. But when the police captain eventually discovered she was trans, the result ended up being positive: She began leading workshops on approaching the trans community with empathy and respect.

The film jumps between Tilma’s past and the present, as she reacts to Netanyahu’s 2022 re-election and the creation of a far-right coalition in Israel. Convinced that the world is reverting to the hateful days of her youth, Tilma leaves the police force and plans how she’ll kill herself if the government attempts to round up trans people. As protests start to sweep the country, however, she decides to channel her fear into activism. Shots of her among the protesters are mixed with recollections of her 1971 sex reassignment surgery and abuse she faced from a doctor in 1973.

Respecting Tilma’s boundaries while encouraging her to share her life story, the filmmakers capture both Tilma’s toughness and sensitivity, giving the film the honesty and heart that make The First Lady feel so intimate. They get Tilma to open doors into her life — literally.

Several times, the directors try to convince Tilma to bring the film crew into her apartment, where she says that no one else has been for a decade. When she finally lets them inside, they encounter piles of clothing, discarded plastic bottles, and other hoarded objects. The filmmakers tell her that the film crew will help her reorganize the apartment bit by bit, in much the same way they piece together her story: bit by bit.

Even if she approaches the whole process with a bit of attitude, Tilma remains determined to never give up fighting for a better life — or a better apartment.

The First Lady will screen at the New York Jewish Film Festival on Jan. 20.

The post How the Israeli police’s first trans volunteer fought bigotry on the force appeared first on The Forward.

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Exclusive: Israeli Officials Harshly Critical of Steve Witkoff’s Influence on US Policy on Gaza, Iran, i24NEWS Told

US Middle East envoy Steve Witkoff, Washington, DC, Jan. 20, 2025. Photo: REUTERS/Carlos Barria

i24 NewsAmid growing disagreements with the Trump administration over the composition of the Board of Peace for Gaza and the question of a strike on Iran, officials in Israel point to a key figure behind decisions seen as running counter to Israeli interests: Special Envoy Steve Witkoff.

The officials mention sustained dissatisfaction with Witkoff. Sources close to the PM Netanyahu told i24NEWS on Saturday evening: “For several months now, the feeling has been that envoy Steve Witkoff has strong ties, for his own reasons, across the Middle East, and that at times the Israeli interest does not truly prevail in his decision-making.”

This criticism relates both to the proposed inclusion of Turkey and Qatar in Gaza’s governing bodies and to the Iranian threat. A senior Israeli official put it bluntly: “If it turns out that he is among those blocking a strike on Iran, that is far more than a coincidence.”

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