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

High-Stakes US Special Forces Mission Rescues Airman From Iran After F-15 Crash

FILE PHOTO: A U.S. Air Force F-15E Strike Eagle aircraft takes off for a mission supporting Operation Epic Fury during the Iran war at an undisclosed location, March 9, 2026. U.S. Air Force/Handout via REUTERS/File Photo

US forces staged the audacious rescue of an airman behind enemy lines after Iran downed his fighter jet, officials said on Sunday, resolving a crisis for President Donald Trump as he weighs escalating the war, now in its sixth week.

The airman rescued by special operations forces, who Trump said was a colonel, was the weapons-systems officer on the downed F-15, a US official told Reuters.

“Over the past several hours, the United States Military pulled off one of the most daring Search and Rescue Operations in US History,” Trump said in a statement, adding that the airman was injured but “he will be just fine.”

The officer was the second of two crew members on the warplane that Iran said on Friday had been brought down by its air defenses. Iran’s Revolutionary Guards said several aircraft were destroyed during the US rescue mission, Tasnim news agency reported.

Reuters reported on Friday that the first crew member had been retrieved, triggering a high-profile search by both Iran and the United States for the remaining airman.

Iranian officials had urged citizens to help find him, hoping to gain leverage against Washington in the war Trump and Israel launched on February 28.

Trump has threatened to escalate the conflict in the coming days with attacks on Iran’s energy infrastructure.

Had Iran captured the airman, the ensuing hostage crisis could have shifted American public perception of a conflict that opinion polls show was already unpopular.

Trump said the airman was rescued “in the treacherous mountains of Iran” in what he said was the first time in military memory that two US pilots had been rescued, separately, deep in enemy territory.

The official told Reuters that as the weapons-systems officer was moved from near a mountain to a transport aircraft parked within Iran, US forces had to destroy at least one of the aircraft because it had malfunctioned.

U.S. AIRCRAFT HIT

The rescue effort, involving dozens of military aircraft, encountered fierce resistance from Iran.

Reuters reported on Friday that two Black Hawk helicopters involved in the search were hit by Iranian fire but escaped from Iranian airspace.

Separately, a pilot ejected from an A-10 Warthog fighter aircraft after it was hit over Kuwait and crashed, the officials said, though the extent of crew injuries was unclear.

Still, Trump was triumphant.

“The fact that we were able to pull off both of these operations, without a SINGLE American killed, or even wounded, just proves once again, that we have achieved overwhelming Air Dominance and Superiority over the Iranian skies,” he said in his statement.

US air crews are trained in what to do if they go down behind enemy lines, measures known as Survival, Evasion, Resistance and Escape, but few are fluent in Persian and face a challenge in staying undetected while seeking rescue.

The conflict has killed 13 US military service members, with more than 300 wounded, US Central Command says. No US troops have been taken prisoner by Iran.

While Trump has repeatedly sought to portray the Iranian military as being in tatters, they have repeatedly been able to hit US aircraft.

Reuters reported on US intelligence showing that Iran retains large amounts of missile and drone capability. Until just over a week ago, the US could only determine with certainty that it had destroyed about one-third of Iran’s missile arsenal.

The status of about another third was less clear, but bombings probably damaged, destroyed or buried those missiles in underground tunnels and bunkers, Reuters sources said.

The US and Israeli war on Iran has spread across the Middle East, killing thousands and hitting the global economy with soaring energy prices that are fueling fears of inflation.

Continue Reading

Uncategorized

On Easter, Pope Leo Urges World Leaders to End Wars, Renounce Conquest

Pope Leo XIV waves from the main balcony of St. Peter’s Basilica after delivering his “Urbi et Orbi” (To the city and the world) message, on Easter Sunday at the Vatican, April 5, 2026. Photo: REUTERS/Remo Casilli

Pope Leo urged global leaders in his Easter message on Sunday to end the conflicts raging across the world and abandon any schemes for power, conquest or domination.

The pope, who has emerged as an outspoken critic of the Iran war, lamented in a special message to the thousands gathered in St. Peter’s Square that people “are growing accustomed to violence, resigning ourselves to it, and becoming indifferent.”

“Let those who have weapons lay them down!” the first US pope exhorted. “Let those who have the power to unleash wars choose peace!”

Leo did not mention any specific conflicts in the message, known as the “Urbi et Orbi” (to the city and the world) blessing. It was unusually brief and direct.

The pope said that the story of Easter, when the Bible says Jesus rose from the dead three days after not resisting his execution by crucifixion, shows that Christ was “entirely nonviolent.”

“On this day of celebration, let us abandon every desire for conflict, domination, and power, and implore the Lord to grant his peace to a world ravaged by wars,” Leo urged.

Leo, who is known for choosing his words carefully, has been forcefully decrying the world’s violent conflicts in recent weeks and ramping up his criticism of the Iran war.

In a sermon for the Easter vigil on Saturday night, he urged people not to feel numbed by the scope of the conflicts raging across the world but to work for peace.

The pope made a rare direct appeal to US President Donald Trump ​on ⁠Tuesday, urging him to find an “off-ramp” to end the Iran war.

In his address from the balcony of St. Peter’s Basilica on Sunday to the Square below, decorated with thousands of brightly colored flowers for the holiday, Leo offered brief Easter greetings in ten languages, including Latin, Arabic and Chinese.

The pope also announced he would return to the Basilica on April 11 to host a prayer vigil for peace.

Continue Reading

Uncategorized

Temple Mount Set for Limited Reopening to Jews and Muslims

Israeli National Security Minister and head of Jewish Power party Itamar Ben-Gvir gives a statement to members of the press, ahead of a possible ceasefire between Israel and Hamas, in Jerusalem, Jan. 16, 2025. Photo: REUTERS/Oren Ben Hakoon

i24 NewsIsraeli authorities are preparing to partially reopen the Temple Mount in Jerusalem to both Jewish and Muslim worshipers for the first time since the start of the war with Iran, under a tightly controlled and highly restricted security arrangement, i24NEWS has learned.

According to details obtained by i24NEWS, the Israeli police, backed by National Security Minister Itamar Ben-Gvir, are also expected to permit limited access for Jewish worshipers to the Western Wall as part of the same phased plan.

Under the framework, access to the Temple Mount and surrounding holy sites would be restricted to small groups of up to 150 people at a time. In the event of a missile alert, all visitors would be immediately evacuated in accordance with emergency protocols.

The decision follows a recent Supreme Court ruling allowing demonstrations in a limited format. Police argue that a consistent standard must apply across both civic gatherings and religious sites, with Ben-Gvir insisting that “there cannot be one rule for demonstrations and another for the Temple Mount.”

However, the reopening contradicts recommendations from the Home Front Command, which has advised keeping sensitive sites closed due to the ongoing risk of missile attacks.

Israeli Justice Minister Yariv Levin has proposed transferring authority over such security-related decisions exclusively to defense officials, an initiative that could reshape the balance between the judiciary and security establishment regarding restrictions on public access.

Continue Reading

Copyright © 2017 - 2023 Jewish Post & News