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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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The answered prayers of Trump’s artful ceasefire deal

On Yom Kippur, millions of Jews around the world prayed for the release of the hostages. A week later, those prayers are on the verge of being answered

President Donald Trump’s announcement Wednesday evening that Hamas and Israel have accepted the first phase of his peace deal — including the release of all the living hostages at once, likely this weekend, in exchange for Palestinian prisoners — is as shocking as it is wonderful.

Just over two years since Oct. 7, 2023, when Hamas invaded Israel, killing almost 1,200 people and abducting 251, there has been scant good news. As the death toll mounted on both sides, we’ve had little reason to expect anything except for more bloodshed, more vengeance and more destruction.

“History teaches us that men and nations behave wisely once they have exhausted all other alternatives,” the late Israeli diplomat Abba Eban once said — and Trump saw that Israel and Hamas were both exhausted, with no alternatives.

Israel faced mounting domestic unrest, a steep decline in international support as its allies lined up to back a Palestinian state, cultural and diplomatic isolation, and a war-weary military.

Hamas lost every battle but the one it started on Oct. 7, and found itself cornered in Gaza City without the weapons lifeline of Iran and the cash infusions from Qatar. Hamas had also lost popular support. After Oct. 7, 71% of Palestinians said they supported the attack. In a May 2025 poll, that number was 51%. Support for Hamas among all Palestinians has dropped to 32% from 43% in Dec. 2023.

The outline of the current deal is similar to one President Joe Biden offered a year ago. What’s different: Trump understood that both parties were at the end of the road, and used that knowledge wisely.

He increased American leverage over Hamas by bringing Qatar closer than ever into the United States’ embrace. Skeptics said that part of that closeness came from the economic ties between Qatar and the Trump family and its associates. If that’s what brings the hostages home, I’m frankly not sure I care.

At the same time, Trump finally stood up to Israeli Prime Minister Benjamin Netanyahu. According to news reports, he lost his temper with Netanyahu following Israel’s September assassination attempt against Hamas leaders in Doha, Qatar. That shocking expansion of the war threatened the Abraham Accords, the singular diplomatic achievement of Trump’s first term, as well as direct U.S. interests: Qatar hosts the largest American air base in the Middle East.

The first clue that Trump’s deal might really come through, after so many failed efforts to secure a lasting ceasefire, was that Trump successfully forced Netanyahu to make a personal apology to Qatar last week — something almost unprecedented in Middle East diplomacy. He then extended the promise of a NATO-like American defense shield to Qatar, also unprecedented.

All that maneuvering has led to an agreement that, if it holds, will be a stunning victory against extremism.

Hamas and other Palestinian militant groups have reaped the fruits of violent resistance. Could they be more rotten and bitter?

Far-right Israeli leaders and their supporters who fantasized about re-occupying Gaza — which would’ve been almost inconceivable without consigning the remaining hostages to death — will not get their way. “I said ‘Israel cannot fight the world Bibi, they can’t fight the world,’” Trump said.

And the longer term implications of Trump’s plan provide a pathway to peaceful coexistence between Israelis and Palestinians, which would almost certainly deprive those same Israelis and their supporters of dominion over the West Bank and the almost 2 million Palestinians who live there.

The deal is a blow to extremists outside the region as well — those online social media warriors who have been trashing the deal, eager to fight the Zionist entity into nonexistence. The prospect of peace and coexistence must be a huge disappointment for them.

“Let it be known that Western leftists who oppose the ceasefire plan in Gaza are now more radical and rigged than Hamas itself,” wrote Palestinian activist Khalil Sayegh last week, “Hamas sounds reasonable compared to the keyboard warriors in the West.”

For the rest of us, the deal is a giant leap in the right direction.

In January, when Trump oversaw a deal to release 33 hostages with the same promise of a long-term Israeli Palestinian accord, I wrote that if it came to pass, I would be the first in line to hang the Nobel medal around his neck. I still think he is a clear and present danger to democracy in the U.S. and to the well-being of the most vulnerable Americans, as the current government shutdown makes clear.

But credit where credit is due. This is an artful deal, one that returns hope to a region where it had all but disappeared.

That last deal fell apart when Netanyahu refused to enter the second phase of negotiations. This one has more of the necessary threats and benefits behind it to keep all the parties in line. Here’s praying it holds — for the hostages, for Israelis and Palestinians, and for the world.

The post The answered prayers of Trump’s artful ceasefire deal appeared first on The Forward.

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Deal to release ‘ALL of the hostages’ from Gaza has been struck, Trump announces

Dozens of Israeli hostages held for two years in Gaza, including 20 who remain alive, are set to be released imminently following an agreement between Israel and Hamas that could lead to a permanent ceasefire.

U.S. President Donald Trump announced the deal on Wednesday evening, saying that both sides had signed off on a “first phase” of the peace proposal he unveiled last week. The agreement came a day after the second anniversary of Hamas’ attack on southern Israel, when the group that has controlled Gaza took about 250 hostages. Of them, 48 remain.

“This means that ALL of the Hostages will be released very soon, and Israel will withdraw their Troops to an agreed upon line as the first steps toward a Strong, Durable, and Everlasting Peace. All Parties will be treated fairly!” he wrote on Truth Social. “This is a GREAT Day for the Arab and Muslim World, Israel, all surrounding Nations, and the United States of America, and we thank the mediators from Qatar, Egypt, and Turkey, who worked with us to make this Historic and Unprecedented Event happen. BLESSED ARE THE PEACEMAKERS!”

Israeli Prime Minister Benjamin Netanyahu confirmed the agreement in a post on X. “With the approval of the first phase of the plan, all our hostages will be brought home. This is a diplomatic success and a national and moral victory for the State of Israel,” he wrote.

Soon, social media began to fill with footage of celebrations. In Israel, hostage families who have battled for their loved ones’ return could be seen dancing in jubilation and the hostages freed in past ceasefires posted videos of themselves weeping as they addressed the men they were forced to leave behind. In Gaza, Palestinians who have endured two years of deadly bombing, pressing hunger and mass displacement expressed hope that the pressing dangers they face could soon recede.

An exact timeline for the hostage release was not immediately clear, but Israeli media reported that urgent preparations were underway with the expectation that hostages could come home by the weekend — ahead of the Simchat Torah holiday that marks the two-year anniversary of the attack in the Jewish calendar. Family members abroad were being flown to Israel and hospitals were being prepared to receive 20 men who have experienced two years of brutality and hunger.

Special attention was being paid, Israeli media reported, to the families whose loved ones would not immediately return — while Hamas committed to returning the bodies of deceased hostages, it has reportedly not yet located all of them and there is a widespread expectation that some may never be found.

U.S. Jewish groups as well as Israeli hostage advocacy groups welcomed the announcement in press releases and videos that expressed appreciation for Trump’s aggressive efforts to press for a deal. Trump’s son-in-law Jared Kushner and his Middle East envoy Steve Witkoff joined the Gaza talks earlier on Wednesday, in a sign that an agreement was potentially imminent.

The exact terms of the deal were still emerging on Wednesday evening but Israeli media was reporting that Israel would retain control of a majority of Gaza until the last hostage is released and that Israeli would not be required to release from its prisons anyone involved in the Oct. 7 attack.

Many elements of Trump’s peace proposal, including demands that Hamas disarm and that a postwar governance structure be established, are expected to be negotiated after the first phase. Israel ended the last ceasefire, in February, rather than continue negotiating. But Trump has indicated that he plans to maintain pressure on both sides to extend their truce into a permanent peace.


The post Deal to release ‘ALL of the hostages’ from Gaza has been struck, Trump announces appeared first on Jewish Telegraphic Agency.

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Israel and Hamas have agreed to hostage release deal, Trump announces

All remaining living hostages taken on Oct. 7, 2023 could be released this weekend as part of a multi-phase deal proposed by President Trump, with the first phase agreed to by Israel and Hamas, according to published reports.

The plan, if adopted in full, would eventually end the two-year war that started when Hamas killed almost 1,200 people in Israel and kidnapped hundreds. Israel’s attacks on the Gaza strip, where the hostages were taken, have since killed at least 66,000 Palestinians, the Gaza Health Ministry says, and left much of the enclave in ruins.

The new deal would require Israel to release Palestinian prisoners in exchange for the 20 living hostages; two previous agreements followed the same parameters in November 2023 and earlier this year.

Israel agreed to pause its military offensive late last week when Hamas indicated willingness to release the hostages, assuming details could be negotiated. This new agreement would require Israel to pull troops back to an agreed-upon line.

The deal was announced by Trump on Wednesday evening and negotiated in Egypt, where his Middle East envoy, Steve Witkoff, and son-in-law, Jared Kushner, hours before.

This is a developing story.

The post Israel and Hamas have agreed to hostage release deal, Trump announces appeared first on The Forward.

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