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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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Gaza ‘Board of Peace’ to Convene at WH on Feb. 19, One Day After Trump’s Meeting with Netanyahu

US President Donald Trump speaks to the media during the 56th annual World Economic Forum (WEF) meeting in Davos, Switzerland, January 22, 2026. Photo: REUTERS/Denis Balibouse/File Photo

i24 NewsA senior official from one of the member states confirms to i24NEWS that an invitation has been received for a gathering of President Trump’s Board of Peace at the White House on February 19, just one day after the president’s planned meeting with Israeli Prime Minister Benjamin Netanyahu.

The meeting comes amid efforts to advance the implementation of the second phase of the Gaza ceasefire, following the limited reopening of the Rafah crossing, the expected announcement on the composition and mandate of the International Stabilization Force, and anticipation of a Trump declaration setting a deadline for Hamas to disarm.

In Israel officials assess that the announcement is expected very soon but has been delayed in part due to ongoing talks with the Americans over Israel’s demands for the demilitarization of the Gaza Strip. Trump reiterated on Thursday his promise that Hamas will indeed be disarmed.

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If US Attacks, Iran Says It Will Strike US Bases in the Region

FILE PHOTO: Iranian Foreign Minister Abbas Araqchi meets with Omani Foreign Minister Sayyid Badr Albusaidi in Muscat, Oman, February 6, 2026. Photo: Omani Ministry of Foreign Affairs/ Handout via REUTERS/File Photo

Iran will strike US bases in the Middle East if it is attacked by US forces that have massed in the region, its foreign minister said on Saturday, insisting that this should not be seen as an attack on the countries hosting them.

Foreign Minister Abbas Araqchi spoke to Qatari Al Jazeera TV a day after Tehran and Washington pledged to continue indirect nuclear talks following what both sides described as positive discussions on Friday in Oman.

While Araqchi said no date had yet been set for the next round of negotiations, US President Donald Trump said they could take place early next week. “We and Washington believe it should be held soon,” Araqchi said.

Trump has threatened to strike Iran after a US naval buildup in the region, demanding that it renounce uranium enrichment, a possible pathway to nuclear bombs, as well as stopping ballistic missile development and support for armed groups around the region. Tehran has long denied any intent to weaponize nuclear fuel production.

While both sides have indicated readiness to revive diplomacy over Tehran’s long-running nuclear dispute with the West, Araqchi balked at widening the talks out.

“Any dialogue requires refraining from threats and pressure. (Tehran) only discusses its nuclear issue … We do not discuss any other issue with the US,” he said.

Last June, the US bombed Iranian nuclear facilities, joining in the final stages of a 12-day Israeli bombing campaign. Tehran has since said it has halted uranium enrichment activity.

Its response at the time included a missile attack on a US base in Qatar, which maintains good relations with both Tehran and Washington.

In the event of a new US attack, Araqchi said the consequences could be similar.

“It would not be possible to attack American soil, but we will target their bases in the region,” he said.

“We will not attack neighboring countries; rather, we will target US bases stationed in them. There is a big difference between the two.”

Iran says it wants recognition of its right to enrich uranium, and that putting its missile program on the negotiating table would leave it vulnerable to Israeli attacks.

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My university wants me to sign a loyalty oath — am I in America or Vichy France?

As a historian of modern France, I have rarely seen a connection between my everyday life in my adopted state of Texas and my work on my adopted specialization: the period we call Vichy France. Apart from the Texan boast that the Lone Star Republic is bigger than the French Republic, and the small town of Paris, Texas, which boasts its own Eiffel Tower, I had no reason to compare the two places where I have spent more than half of my life.

Until now.

Last week, professors and instructors at the University of Houston received an unsettling memo from the administration, which asked us to sign a statement that we teach rather than “indoctrinate” our students.

Though the administration did not define “indoctrinate,” it hardly takes a PhD in English to read between the lines. Indoctrination is precisely what our state government has already forbidden us from doing in our classes. There must not be the slightest sign in our courses and curricula of references to diversity, identity and inclusion. The catch-all word used is “ideology,” a term Governor Greg Abbott recently invoked when he warned that “Texas is targeting professors who are more focused on pushing leftist ideologies rather than preparing students to lead our nation. We must end indoctrination.”

This is not the first time in the past several months that I have been reminded of what occurred in France during the four years that it was ruled by its German occupiers and Vichy collaborators.

French Marshal and Vichy leader Henri-Philippe Petain (left) and Nazi leader Adolf Hitler (right) share the famous ‘handshake at Montoire’ while interpreter Colonel Schmidt watches, October 1940. Photo by Hulton Archive/Getty Images

Very briefly, with Germany’s rapid and complete defeat of France in 1940, an authoritarian, antisemitic and collaborationist regime assumed power. Among its first acts was to purge French Jews from all the professions, including high school and university faculties, and to impose an “oath of loyalty” to the person of Marshal Philippe Pétain, the elderly but ramrod straight and clear-headed hero of World War I.

The purpose of the oath was simple and straightforward: By demanding the fealty of all state employees to the person of Pétain, it also demanded their hostility to the secular and democratic values of the French republican tradition. Nevertheless, an overwhelming majority of teachers signed the oath —even the novelist and feminist Simone de Beauvoir, who needed her salary as a lycée teacher, as did the writer Jean Guéhenno, a visceral anti-Pétainist who continued to teach at the prestigious Paris lycée Henri IV until he was fired in 1943.

Vichy’s ministers of education understood the vital importance that schools and universities played in shaping citizens. Determined to replace the revolutionary values of liberty, equality and fraternity with the reactionary goals of family, work and homeland, they sought to eliminate “godless schools” and instill a “moral order” based on submission to state and church authorities. This radical experiment, powered by a reactionary ideology, to return France to the golden age of kings, cardinals and social castes came to an inglorious end with the Allied liberation of the country and collapse of Vichy scarcely four years after it had begun.

The French Jewish historian Marc Bloch — who joined the Resistance and sacrificed his life on behalf of a very different ideology we can call humanism — always insisted on the importance of comparative history. But comparison was important not because it identified similarities but because it illuminated differences. Clearly, the situation of professors at UH is very different from that of their French peers in Vichy France. We are not risking our jobs, much less our lives, by resisting this ham-handed effort to demand our loyalty to an anti-indoctrination memo.

But the two situations are not entirely dissimilar, either. Historians of fascism like Robert Paxton remind us that such movements begin slowly, then suddenly assume terrifying proportions. This was certainly the case in interwar France, where highly polarized politics, frequent political violence and a long history of antisemitism and anti-republicanism prepared the ground for Vichy. In France, Paxton writes, this slow, then sudden transformation “changed the practice of citizenship from the enjoyment of constitutional rights and duties to participation in mass ceremonies of affirmation and conformity.”

As an historian of France, I always thought its lurch into authoritarianism was shocking, but not surprising. After all, many of the elements for this change had existed well before 1940. But as a citizen of America, I am not just shocked, but also surprised by official demands for affirmation and conformity. One day I will find the time to think hard about my naiveté. But the time is now to think about how we should respond to these demands.

The post My university wants me to sign a loyalty oath — am I in America or Vichy France? appeared first on The Forward.

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