Connect with us

Uncategorized

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.

Continue Reading

Uncategorized

UK threatens sanctions after Israel opens bids for E1 settler homes

(JTA) — JERUSALEM – The United Kingdom threatened to sanction Israelis involved in West Bank settlement expansion after the Jewish state’s Lands Authority opened bids for 1,234 homes in the largely underdeveloped E1 section of the West Bank settlement of Ma’aleh Adumim.

Construction in E1 “would cut across the heart of Palestine and risks separating the West Bank from East Jerusalem, which would endanger the viability of a two-state solution,” the British Foreign Secretary Ed Miliband said in a special statement he posted on X on Thursday.

Targeted sanctions, Miliband wrote, would be part of a series of measures his government would take. His office also summoned Israel’s charge d’Affaires Thursday to demand a closure of the bidding process, which first opened on Tuesday, and a withdrawal of the construction project altogether.

“Britain will not stand back and accept the destruction of the two-state solution,” he wrote. Miliband has held his position for a month and is part of the new leadership Labour Prime Minister Andy Burnham appointed when he took office in July.

Israel’s Foreign Minister Gideon Sa’ar attacked Miliband on X, stating that Britain’s “decision to damage the relationship between our countries is deeply unfortunate.”

He said that the U.K. government’s “systematic policy of blaming only Israel while ignoring Palestinian extremism has already contributed to a massive wave of antisemitic hatred and attacks against the British Jewish community.”

The Jewish people have the same right to “live throughout the Land of Israel” just as the British people have a right to live anywhere in the U.K., Sa’ar wrote.

Plans to expand the built-up area of Ma’aleh Adumim settlement by constructing some 3,400 housing units on a largely underdeveloped hilltop within the city’s boundaries have been in place since 1994 when Yitzhak Rabin was prime minister.

Israel mostly froze those plans under pressure from the international community, including the U.S., with many countries warning that building homes in E1 would harm their diplomatic ties with Israel.

Prime Minister Benjamin Netanyahu began to advance the project in earnest in 2012 to protest the United Nations General Assembly decision to grant the Palestinians the status of a non-member state and has since pushed the project forward in spurts, particularly during election seasons.

The publication of the bidding process for the homes was first announced on Tuesday and is set to close on Oct. 19, one week shy of the Israeli elections on Oct. 27. Opening the bids is a move that plays well with Netanyahu’s right-wing voter base, which opposes Palestinian statehood and believes that settlements like Ma’aleh Adumim and the E1 area should be annexed into sovereign Israel.

But the move reverberated globally, with the U.K. signing onto a joint condemnation by France, Germany, Italy, the Netherlands, Norway, Belgium, Sweden, Australia, New Zealand and Canada, in which they warned that settlement building in E1 distanced peace and undermined the country’s international standing.

They also reminded businesses who might bid for E1 construction that they could face legal or reputational consequences, given that such companies could be in breach of international law.

Palestinian Authority Vice President Hussein Al-Sheikh said he welcomed the condemnation, explaining on X that such a position “reflects the importance of the international role in confronting settlement activity and safeguarding the two-state solution.”

This article originally appeared on JTA.org.

The post UK threatens sanctions after Israel opens bids for E1 settler homes appeared first on The Forward.

Continue Reading

Uncategorized

Argentina removes federal judge over antisemitic remarks in historic first

(JTA) — An Argentine federal judge was removed from office Tuesday for a series of antisemitic posts on his social media accounts that constituted misconduct incompatible with his role, an impeachment panel ruled.

Alfredo Eugenio López, who headed Federal Court No. 4 in the coastal city of Mar del Plata, was removed by Argentina’s Jury of Impeachment, a special panel composed of judges, lawmakers and lawyers.

It is the first time in Argentina’s history that a judge has been removed over antisemitic remarks.

In López’s social media posts, the judge referred to the Jewish people as “a brood of vipers,” Israel as a “fictitious state” and Argentinian Jews as “foreigners.” He has also used such terms as “Zionist” and “gay” as insults.

According to the panel, the judge committed acts of “discrimination and the denial of equal rights against the Argentine Jewish community. For the purposes of these proceedings, it is particularly significant that, by acting in this manner, he shattered public confidence in his continued fitness to administer justice impartially.”The case reached the panel through Argentina’s Council of the Magistracy, based in Buenos Aires, the constitutional body responsible for the selection and discipline of federal judges.

The first complaint against López was filed in February 2025 by the Delegación de Asociaciones Israelitas Argentinas, which is the umbrella organization representing Argentina’s Jewish community. One month later, the Argentine Forum Against Antisemitism  also filed a complaint. In July 2025, attorney Yamil Santoro from Apolo Foundation added another one.

In his defense, López argued that his messages were “ subjective and decontextualized interpretations of exchanges on social media, which in no way affect the administration of justice or his impartiality” as a judge. He added that his remarks were unrelated to any pending case and that he had never been recused or removed from any judicial case.

Neither Lopez nor his attorney were immediately available for further comment.

“He was removed because he simply would not stop engaging in hate speech,” jury member Alberto Maques said during a live interview Tuesday on the  A24 news channel. “It is absolutely disgraceful for a federal judge to engage in this kind of conduct.”

Maques said there were 15 social media posts that he acknowledged, but more than 50 posts in which he said “outrageous things that are not worth repeating because they truly constituted hate speech.”

“This is not merely an issue of hate speech against the Jewish community. This is someone who lacks common sense,” he added, interviewed by A24 news channel.

Prosecutors in the impeachment proceedings argued that the messages were not isolated political comments but reflected a pattern of hostility toward Jews, Zionism, and the State of Israel.

“No position of authority can shield hatred. This is not a matter of punishing an opinion. It is about sanctioning repeated conduct involving antisemitism, hostility and dehumanization, conduct incompatible with the impartiality, dignity and public trust required of the judiciary,” DAIA said Tuesday in a statement.

“This case sets a precedent: for the first time in more than a century, DAIA initiated proceedings of this nature against a judge. No office is above democracy.”

This article originally appeared on JTA.org.

The post Argentina removes federal judge over antisemitic remarks in historic first appeared first on The Forward.

Continue Reading

Uncategorized

California progressive Wahab defeats AIPAC-backed Hernandez in close race

(JTA) — California progressive Aisha Wahab defeated AIPAC-backed moderate Melissa Hernandez in a congressional runoff this week, capping off a contest that had become unexpectedly tight after the pro-Israel lobby entered the fray.

The Associated Press called the race between the Democrats — who were vying to replace a disgraced former Rep. Eric Swalwell — a full two days after polls closed, when Wahab secured 53.1% of votes to Hernandez’s 46.9%, with 95% of ballots tallied. The gap between them grew by four percentage points from Tuesday evening, when Wahab had held a narrow 51% lead to Hernandez’s 49%.

“We stayed focused on the people, and I will fight for this district that raised me,” Wahab said in a Thursday statement, noting her journey “from foster care to Congress” in her East Bay community.

Although Wahab ended up victorious, the narrow initial margin on Tuesday shocked California’s 14th District, given that she had secured a double-digit lead in preliminary races two months ago.

But in the past few weeks, an unforeseen variable appeared to influence the trajectories of the two campaigns: a massive spending push from the American Israel Public Affairs Committee aimed at turning the tides for Hernandez.

Since the beginning of August alone, AIPAC’s super PAC, the United Democracy Project, and other affiliated groups spent more than $2.5 million on both boosting Hernandez and denigrating Wahab with negative ads and mailers, according to Federal Election Commission filings.

“This was not a landslide for Wahab by any means,” local Democratic strategist Noah Finneburgh, who is not affiliated with either candidate, told the Jewish Telegraphic Agency.

“They narrowed the gap for sure,” Finneburgh added, referring to AIPAC. “They spent millions of dollars attacking Wahab very aggressively.”

These attacks, he explained, did not involve Israel and instead focused on divisive issues for the Bay Area, such as public safety and protecting kids.

“Negative advertising with a persuasive message can be very effective,” Finneburgh said.

In her Thursday night statement, Wahab declared that her “district cannot be bought,” describing the race as “one of the ugliest, most expensive elections we’ve ever seen.”

Prior to this influx of cash and related ads, neither AIPAC nor Israel had played a significant role in this short-lived race — which began in April following Swalwell’s resignation over allegations of sexual assault.

When the district held a special primary to seek Swalwell’s replacement on June 16,  Wahab and Hernandez finished as the top-two candidates and moved on to this week’s special general runoff election.

California primaries are “nonpartisan” or “top-two” races, in which the two highest ranking candidates move on to the general election, irrespective of their parties. The top-two in this case were both Democrats, like Swalwell, in a district that the Cook Political Report deems solidly blue.

Even though Wahab will now finish the remainder of Swalwell’s term, she will have to compete with Hernandez again in the November general election for a full term that begins on January 3, 2027.

In a June 16 special primary that preceded this week’s runoff, there was still a massive gap between the two candidates, with Wahab accruing 42.8% of the votes, compared to Hernandez’s 16.8%. A separate primary for the November race, which occurred two weeks earlier, placed Wahab at 38.3% and Hernandez at 17.2%.

Wahab, who will be the first Afghan American in Congress, has focused on affordability, civil rights, education and climate change. Her campaign calls for an end to wars and “prolonged occupations” but only specifically calls out U.S. military activity in “Afghanistan, Iraq, Syria, Libya, Yemen, Pakistan, Somalia, and elsewhere.”

Though Wahab has been critical of Israel and its operations in Gaza, she has not been as vocal about the issue as many other progressive colleagues nationwide. She responded “yes” when asked if Israel was committing genocide in a primary debate, but she didn’t include Israel or Gaza in her campaign priorities.

During a recent appearance on far-right influencer Hasan Piker’s livestream, Wahab acknowledged that “it’s not a zero-sum game in the Middle East,” adding that “we can care for all people.” She also referenced a resolution she introduced last year in the California legislature, pushing for a ceasefire in Gaza but also condemning Hamas and demanding the release of the hostages.

“We talk about both Palestinians and the Israeli victims there,” Wahab told Piker. “We talk about holding the perpetrators accountable from both sides.”

Asked if she was in favor of “ending all U.S. aid to Israel,” she responded “yes,” while stressing that “humanitarian aid is important to me, too.”

Wahab has earned the backing of multiple labor unions, the California Democratic Party and Our Revolution, the group formed by Sen. Bernie Sanders to advance the progressive movement. The liberal pro-Israel group J Street also recently invested $108,000 in her campaign, according to the FEC. American Priorities, a pro-Palestinian PAC, also spent at least $200,000 on supporting her.

Hernandez has received endorsements from several police and fire unions, as well as Democratic Jewish Reps. Lois Frankel of Florida and Brad Schneider of Illinois.

Come November, Hernandez will gain one additional asset. Due to statewide redistricting, the 14th District will gain about 26,000 new voters from Dublin, where Hernandez previously served as mayor, the San Francisco Chronicle reported.

But Finneburgh said he believes that Hernandez has only a minimal chance of winning that race, especially because Wahab will be heading into that election as an incumbent.

He also suggested that if “she plays her card right,” Wahab could even take some endorsements away from Hernandez.

“There’s going to be people who are going to probably move over from the Hernandez camp and back her,” Finneburgh added. “It’s going to be hard to unseat her.”

This article originally appeared on JTA.org.

The post California progressive Wahab defeats AIPAC-backed Hernandez in close race appeared first on The Forward.

Continue Reading

Copyright © 2017 - 2023 Jewish Post & News