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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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Italian rapper Ghali’s planned Winter Olympics set draws backlash over his Gaza advocacy

(JTA) — Italian rapper Ghali’s slated performance at the opening ceremony for this year’s Winter Olympics in Milan has drawn criticism from Italian leaders over his past activism against Israel.

Ghali Amdouni, a prominent Milan-born rapper of Tunisian parents, will be joined by a host of performers including Andrea Bocelli and Mariah Carey during the opening ceremony on Feb. 6. This year, nine Israelis will compete, including the national bobsled team for the first time.

The selection of Ghali drew criticism from members of Italy’s right-wing League party.

“It is truly incredible to find a hater of Israel and the centre-right, already the protagonist of embarrassing and vulgar scenes, at the opening ceremony,” a source from the party told the Italian outlet La Presse. “Italy and the games deserve an artist, not a pro-Pal fanatic.”

In early 2024, Ghali drew criticism from Italian Jewish leaders and Israel’s former ambassador to Italy, Alon Bar, after he called to “stop genocide” during his performance at the Sanremo Italian song festival. The spat later spurred protests outside the office of the Italian public broadcaster RAI.

On X, the rapper has also criticized other artists for not using their platforms for pro-Palestinian activism and appeared to refer to the war in Gaza as a “new Holocaust.”

Ghali’s selection comes as Italy has become an epicenter of pro-Palestinian activism that has been sustained even as such activism has receded in other places. In October, over 2 million Italians took part in a one-day general strike in support of Palestinians and the Global Sumud Flotilla. The previous month, a separate general strike was organized in response to call from the country’s unions to “denounce the genocide in Gaza.”

According to a study of global antisemitism published in April by Tel Aviv University, Italy was one of two countries that saw a spike in antisemitic incidents from 2023 to 2024. A September survey from the pollster SWG found that roughly 15% of Italians believe that physical attacks on Jewish people are “entirely or fairly justifiable.”

Italian Sports Minister Andrea Abodi said he does not believe Ghali will make a political statement on stage.

“It doesn’t embarrass me at all to disagree with Ghali’s views and the messages he sent,” said Abodi, according to the Italian outlet La Repubblica. “But I believe that a country should be able to withstand the impact of an artist expressing an opinion that we don’t share. And that opinion will not, in any case, be expressed on that stage.”

Noemi Di Segni, the president of the Union of the Italian Jewish Community, told Italian media that she was hopeful Ghali would receive instructions ahead of his performance.

“It is clear that I hope Ghali has received instructions or guidelines on the ‘role’ he is expected to play. So I hope he will understand what he needs to do in that context and at that moment,” Di Segni told the Italian outlet La Milano. “I am confident that he will understand what he is called upon to do in that context and at that moment.”

The post Italian rapper Ghali’s planned Winter Olympics set draws backlash over his Gaza advocacy appeared first on The Forward.

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After Alex Pretti killing in Minneapolis, Jewish gun owners confront Second Amendment tensions

(JTA) — Roberta Tarnove was horrified last week when she learned that a man protesting ICE was shot and killed in Minneapolis. And it wasn’t just because someone was dead.

The 65-year-old Jewish resident of Los Angeles was also distressed that federal officials said the agents were justified in shooting Alex Pretti because they believed he was armed. Pretti, 37, was a licensed gun owner in a state where carrying a gun openly is legal.

“I’m very sad. He certainly had every right to carry a gun,” Tarnove said.

The situation hit home for Tarnove because she, too, owns guns and has a permit allowing her to carry concealed firearms.

“As a Jewish person whose Sunday school teachers were mostly Holocaust survivors, there was something about Donald Trump’s presidential run that just hit me hard,” she said. “The dog whistles and things just sounded alarm bells in my head, and so I think I need to get a gun, not that I can overthrow the government, but just for personal protection.”

Since getting her first gun in 2015, Tarnove has been part of a Southern California Jewish gun club, Bullets & Bagels.

There was no discussion of Pretti’s killing at a Bullets & Bagels event featuring the Los Angeles district attorney on Sunday, according to the club’s founder, Fred Kogen. He said he could not comment on the specifics of the shooting.

“What happened there was that this gentleman lost his life, that’s all I know, to be honest, and that, interestingly enough, has not been a discussion within the community of Jewish shooters that I’m a part of,” Kogen said.

Tarnove wasn’t there on Sunday. But she said she wasn’t surprised by Kogen’s report.

“The reaction from the overruling gun community — and apparently the government — is, well, if you bring a gun to protest, you’re going to get shot,” Tarnove said. “So it’s Second Amendment for me, but not for thee, which is one of the things about the gun culture I really hate.”

Pretti’s killing has spurred sharp debate over whether the Trump administration’s response to armed protesters may be at odds with Second Amendment protections traditionally cherished by conservatives.

The debate is also taking place among American Jews. While American Jews have historically opposed gun ownership, Oct. 7 and the ensuing rise in antisemitism across the country has spurred many to take up arms for the first time. Now, Jewish gun owners are confronting a tension that has emerged between their right to bear arms and the federal government’s response to armed civilians.

“My personal opinion is that he was executed,” said J.N., a 59-year-old Jewish gun owner in the Washington, D.C., suburbs who requested anonymity to protect his employment. “I’ve watched the video like everybody else, his hand never went anywhere near his gun. It was handled horrifically.”

On the other hand, Bruce Cohen, a lifelong Jewish gun owner in Arizona who hosts the Facebook group Jews for the Preservation of Firearms Ownership, said he believed Pretti was “looking for trouble.”

“I don’t know if I can fault the law enforcement officer,” Cohen said. “As a libertarian, I want very, very strict limits on police powers, I do not want police to abuse or mistreat or mislead citizens or non-citizens, for that matter, but I can see how that could happen, and if that person was more careful and more friendly and exercised his freedom of speech and right to protest in a more appropriate manner then he could be protesting today.”

In the wake of Pretti’s killing, several Trump administration officials said his gun possession instigated the shooting. Homeland Security Secretary Kristi Noem claimed Pretti “attacked” officers and was “brandishing” a gun, though a preliminary report completed on Tuesday by Customs and Border Protection found he did not brandish a weapon during the encounter.

On Tuesday, President Donald Trump himself said, “You can’t have guns. You can’t walk in with guns,” in response to a question about the killing from PBS.

“My assessment is the government is lying,” said J.N. “I don’t know why he carried it, but he’s entitled to carry it, he had a concealed carry permit. The Second Amendment says that you’re allowed to carry a gun, so I can’t fathom why the government, supposedly a Republican government, would say that.”

In a post on X, the National Rifle Association took aim at the rhetoric from the federal government, writing, “Responsible public voices should be awaiting a full investigation, not making generalizations and demonizing law-abiding citizens.”

A national Jewish gun club, Lox & Loaded, echoed that sentiment.

“Lox & Loaded stands firmly behind the absolute right to bear and conceal arms in any lawful setting,” said COO Gayle Pearlstein. “The pending investigation and resulting determination of the incident involving Mr. Pretti and federal law enforcement should in no way interfere with or call into question this longstanding personal right.”

Jordan Levine, the Jewish founder of the online gun advocacy group A Better Way 2A, said he believed the shooting of Pretti “sets a precedent, because it calls into question if somebody can be murdered for simply carrying a gun.”

But Levine stipulated that he was not concerned “as of right now” about losing Second Amendment rights.

“The Trump administration, thankfully, is still a bit removed from our court systems, and we’ve seen time and time again the court’s ruling in favor of Second Amendment liberties,” Levine continued.

Cohen said he would have handled the situation differently in Pretti’s shoes.

“If I was in his situation with his motivations, I would have introduced myself to the cops. I would have shaken hands with the cops, I would have said, hey, I disagree with what you’re doing, but thank you for being professional,” said Cohen.

But others within the JPFO Facebook group were quick to decry the federal government’s rhetoric.

“I’m not going to shut up and wait when agents of an authoritarian government are violating the rights of and killing citizens,” wrote one JPFO member. “The Declaration of Independence gives us the right to fight tyranny.”

J.N., who is also a member of the JPFO group, said, “As a Jewish person, and as an American, it sickens me.”

In the wake of Pretti’s killing, many critics have likened ICE’s tactics in Minneapolis to the Gestapo in Nazi Germany. While both Trump administration officials and some Jewish voices have called such comparisons inappropriate, for J.N., the similarities rang true.

“I’m not going to call them Nazis, because nobody’s being sent to the showers and burned en masse, OK, I get the difference, but I can tell you that I feel like they are using Gestapo techniques,” J.N. said.

Cohen said the comparison was a “standard left-wing package.”

“They train people to say that stuff, and it’s hypocritical and insincere because they don’t actually believe what they’re saying,” said Cohen. “I don’t see that at all, because we’re not, you know, the Jews in Germany. We’re not illegal aliens, we’re not on welfare, we’re not doing criminal things, we’re not stealing financially.”

For Tarnove, the federal government’s rhetoric around Pretti’s gun ownership had raised alarm bells for potential restrictions against gun ownership for certain groups.

“We aren’t past the point of no return, but we are getting so darn close, and I wish that more Jews would recognize that,” said Tarnove. “When the government can go after one group of people, then they can go after any group of people, and you’re not safe.”

The post After Alex Pretti killing in Minneapolis, Jewish gun owners confront Second Amendment tensions appeared first on The Forward.

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IDF official says 71,000 killed in Gaza war, matching Gaza Health Ministry estimate

(JTA) — A senior Israel Defense Forces official told Israeli media outlets on Thursday that the military estimates a death toll in Gaza of approximately 71,000 — the same number that the Hamas-run Gaza Health Ministry announced this week.

In the past, Israeli officials have sometimes disputed Gaza Health Ministry data, accusing the ministry of inflating death tolls. Though Israeli officials have not officially disputed the overall Gaza war figures for some time, they frequently contested the toll in specific incidents, and some pro-Israel advocates have continued to challenge estimates of the death toll in Gaza as Hamas propaganda.

Now, the senior official’s disclosure underscores that there is no gap in the total number of deaths estimated by both parties to the two-year war in Gaza.

The official reportedly said the IDF was still working to determine the breakdown between combatants and civilians in the total, as well as of how many died directly from military action. The Gaza Health Ministry’s toll does not distinguish between militants and civilians.

The official’s remarks on Thursday were briefed to Israeli outlets on condition of anonymity. By Thursday evening, an IDF official told the Jewish Telegraphic Agency that the reports did not reflect an official disclosure by the army.

“The IDF clarifies that the details published do not reflect official IDF data,” the IDF official said. “Any publication or report on this matter will be released through official and orderly channels.”

Israel has not published its own data on the death toll in Gaza to refute the ministry’s, but has maintained that it has killed roughly two to three civilians for every militant.

The Gaza Health Ministry says 71,667 Gazans died between Oct. 7, 2023, when Hamas attacked Israel from the enclave, and today, including over 450 killed since the U.S.-brokered ceasefire went into effect in October. It also claims that at least 440 Palestinians have died of malnutrition and starvation, a figure that Israel denies.

Human rights NGOs and the United Nations have long said the ministry’s data is reliable. Some estimates by pro-Palestinian sources have suggested an even higher toll.

About 2 million Palestinians lived in Gaza at the outset of the war. The 71,000 figure means that about 3% of Gaza’s population was killed during the war.

The post IDF official says 71,000 killed in Gaza war, matching Gaza Health Ministry estimate appeared first on The Forward.

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