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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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Vance declines to endorse Netanyahu, a day after Trump backs prime minister
(JTA) — Vice President JD Vance has refused to endorse Prime Minister Benjamin Netanyahu, just a day after President Donald Trump announced his support for the incumbent Israeli leader.
“I’m not anti-endorsing. I’m not pro-endorsing,” Vance told journalist Mark Halperin in a Monday interview. “I’m not getting involved in the Israeli elections.”
“I endorse American candidates,” the vice president added, noting that he is focused on the U.S. midterms.
Trump declared his support for Netanyahu, who is running for reelection, in a Sunday Truth Social post in which he deemed the Israeli leader “a Great Warrior Prime Minister” and a vital partner in removing the Iranian threat. Recent polls show Netanyahu closely trailing former IDF chief-of-staff Gadi Eisenkot in the election, which will take place on Oct. 27.
Liberal Middle East policy advocates, including J Street, have blasted Trump’s decision to back Netanyahu, arguing that he’s acting against the interests of U.S. taxpayers.
While Vance declined to endorse the Israeli prime minister, he has previously involved himself in international elections. In April Vance joined Trump in backing then Prime Minister Viktor Orbán in Hungary, although that support did not end in victory.
Last year, the vice president also met with the leader of the far-right Alternative for German political party, AfD, in Munich but he did not issue an official endorsement for that candidate.
This article originally appeared on JTA.org.
The post Vance declines to endorse Netanyahu, a day after Trump backs prime minister appeared first on The Forward.
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Israeli President in Hungary for first high level talks since Orbán’s ouster
(JTA) — BUDAPEST, Hungary — Israeli President Isaac Herzog met with his Hungarian counterpart and the country’s prime minister on Tuesday in the first high-level Israeli visit since the election defeat of longtime Prime Minister Viktor Orbán.
Herzog held talks with Hungarian President András Baka at the Sándor Palace before meeting Prime Minister Péter Magyar, whose Tisza party ended Orbán’s 16 years in power in April.
Orbán’s tenure was marked by repeated confrontations with European Union institutions over democratic standards and the rule of law. He was among Israel’s staunchest supporters at the European body. The right-wing strongman also maintained close personal ties with Prime Minister Benjamin Netanyahu.
Speaking at a joint press briefing following their closed-door meeting, Herzog described Hungary as a “friend and an ally,” praised its role in promoting “balanced and constructive relations” between Israel and the European Union and expressed confidence that the relationship would continue to develop under the new government.
“Over the course of this past year, we’ve seen our strong bilateral alliance deepen considerably,” Herzog said. “By joining hands, we are harnessing the best of our creativity, resourcefulness and determination towards shaping secure economic [and] technological futures.”
Baka offered a more restrained assessment, describing relations as “cordial and stable” and saying the two countries had no “outstanding bilateral issues” and that Israel remained an “important economic partner.”
The Hungarian president also pointed to the fighting in Gaza, which has continued for more than three years, calling for unhindered deliveries of humanitarian aid to the civilian population.
“International humanitarian law must be fully respected, and aid must reach those in need safely and without interruption,” Baka said. “Any lasting peace must offer families on both sides a reason to believe that their children can grow up free from fear and insecurity that have shaped so many lives.”
Herzog said Israel does not “choose war,” and raised the threat posed by Iran and its regional proxies, including Hamas, Hezbollah and the Houthis, warning that the danger extended beyond the Middle East and required cooperation among “freedom-loving nations” to confront it.
“In recent years, we’ve contended with a clear, present and ongoing threat of terror and extremism emanating from Iran and spread through its network of radical proxies,” he said. “They may sit in the Middle East, but they threaten the entire world, and the alliance of freedom-loving nations is critical to confronting it.”
Herzog congratulated Magyar on his election victory, describing it as “an expression of Hungarian democracy” and of the “vitality and energy” of the Hungarian people.
Magyar, who took office in May, has pledged to maintain strong relations with Israel. But he reversed one of Orbán’s most consequential policies soon after he took office with a vote to remain in the International Criminal Court, overturning Orbán’s decision to withdraw after the court issued an arrest warrant against Netanyahu over alleged war crimes in Gaza.
Baka, a former Supreme Court chief justice who assumed the presidency in August, has a history with the former government. His judicial tenure was cut short under Orbán in 2012, a move the European Court of Human Rights subsequently ruled had violated his rights.
Herzog also addressed Israel’s upcoming parliamentary elections on October 27, telling his Hungarian counterpart that the country’s next government would face considerable diplomatic and security challenges.
“The next Israeli government, whatever its form, will have to contend with big challenges that go to the heart of our security and our position in the international arena,” Herzog said, expressing confidence that Israel would “continue to find an ally and friend in Hungary.”
Both presidents addressed Hungary’s Jewish community and the legacy of the Holocaust. Baka reaffirmed Hungary’s “zero tolerance” policy toward antisemitism, while Herzog recalled the destruction of Hungarian Jewish life during the Holocaust, describing its legacy as a “moral memory” guiding the present.
During Herzog’s subsequent meeting with Magyar, veteran Israeli journalist Ariel Kahana called out a question about the state of Israeli-Hungarian relations, despite questions not being part of the protocol.
“Excellent,” Magyar replied.
“I’m not responsible for the Israeli journalists,” Herzog quipped.
Herzog’s visit also includes an address to Voice of the People, an international initiative he established to bring together Jewish leaders from Israel and the Diaspora to discuss challenges facing Jewish communities, as well as a meeting with representatives of Hungarian Jewry.
The trip also carries personal significance for Herzog, whose father, former Israeli President Chaim Herzog, made the first state visit to Hungary by a sitting Israeli president in June 1991, less than two years after the restoration of diplomatic relations between the countries.
Recalling his father’s hope that relations between Israel and Hungary would continue to deepen, Herzog said he was proud to see how the relationship had developed over the intervening 35 years.
“Today, as president of the State of Israel, and as his son, I’m immensely proud to see how much that hope has become a reality,” he said.
This article originally appeared on JTA.org.
The post Israeli President in Hungary for first high level talks since Orbán’s ouster appeared first on The Forward.
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Cantorial music movingly sung by women, at this event in Indiana
אויף איין טאָג איז דאָס שטעטל בלומינגטאָן — אַן אוניווערסיטעט־שטאָט אין ווײַטער אינדיאַנע — געוואָרן אַ צענטער פֿון נײַער און טראַדיציאָנעלער ייִדישער מוזיק.
דעם 11טן אָקטאָבער איז פֿאָרגעקומען אַ גאַנצע ריי פּראָגראַמען געווידמעט דער מיזרח־אייראָפּעיִשער ייִדישער קולטור. די פּראָגראַם, „זכּרון פֿאַרוואַנדלט“ (Memory Transformed), האָט אַרײַנגענומען אַן אַקאַדעמישן סימפּאָזיום, אַ קונסט־אויסשטעלונג און אַ קאָנצערט פֿון הײַנטצײַטיקער ייִדישער מוזיק. ס׳איז געקומען אַ גרויסער עולם: סײַ סטודענטן און פּראָפֿעסאָרן פֿון אוניווערסיטעט, סײַ ייִדן און נישט־ייִדן פֿון דער געגנט.
די רײַכע פּראָגראַם איז פֿאָרגעקומען אין בלומינגטאָן, דער עיקר, אַ דאַנק ירמיהו לאָקוווּד, דעם באַקאַנטן מוזיקער, היסטאָריקער און מוזיקאָלאָג, וואָס איז אויך אַ גאַסט־פּראָפֿעסאָר פֿון ייִדישע לימודים אין אינדיאַנער אוניווערסיטעט. לאָקוווּד האָט זיך באַטייליקט סײַ אינעם סימפּאָזיום סײַ אין דעם קאָנצערט. ער איז אויפֿגעטראָטן מיט זײַן קאַפּעליע, The Sway Machinery, מיט וועמען ער שפּילט שוין די לעצטע צוואָנציק יאָר.
כאָטש לאָקוווּדס אייגענע מוזיק איז מאָדערן, פֿאָרשט ער דווקא אַ מער טראַדיציאָנעלן ייִדישן זשאַנער: דאָס חזנות. בעת אַ שמועס מיט מיר האָט ער געזאָגט, אַז ער האַלט דאָס חזנות פֿאַרן עיקר און נשמה פֿון דער ייִדישער מוזיק. זײַן ערשט בוך, „גאָלדענע עפּאָכעס“ (2024) באַהאַנדלט די הײַנטיקע חסידישע זינגער, וואָס באַנײַען דעם סטיל חזנות פֿון אַלטע צײַטן. איצט אַרבעט ער אויף אַ צווייט בוך, וואָס זאָל דערציילן די געשיכטע פֿון חזנות ביזן הײַנטיקן טאָג.
לאָקוווּד פֿאָרשט ספּעציעל די אַלטע פּלאַטעס פֿון אָנהייב 20סטן יאָרהונדערט. חזנות איז אַ מאָל געווען געוואַלדיק פּאָפּולער, ווײַל דער פֿאָנאָגראַף האָט אַרײַנגעברענגט די הייליקע מוזיק אַפֿילו אין וועלטלעכע ייִדישע היימען.
אויפֿן סימפּאָזיום האָט אויך גערעדט אַן אַנדער מומחה פֿון חזנות, ד״ר יהודית בערקסאָן, אַ פֿאָרשערין און פּראָפֿעסיאָנעלע חזנטע אין לאָס־אַנדזשעלעס. זי האָט גערעדט וועגן דעם אימפּראָוויזירטן אַספּעקט פֿון חזנות, וואָס איז אַ מאָל געווען גאָר וויכטיק. הײַנט זינגען חזנים געוויינטלעך לויט די נאָטן, ווײַל זיי זענען גוט טרענירט אין דער קלאַסישער מערבֿדיקער מוזיק־טראַדיציע. אָבער דאָס אַמאָליקע חזנות איז געווען אַ געמיש פֿון מערבֿדיק און מיזרחדיק, מיט אַ סך אימפּראָוויזאַציע — אַ ביסל ווי דזשעז־מוזיק. דער חזן האָט קיין מאָל נישט געזונגען דאָס זעלבע שטיקל אויף פּונקט דעם זעלביקן אופֿן. יעדע זאַך איז געווען אָריגינעל.
בערקסאָן האָט אויך גערעדט וועגן די פּריוואַטע, קאָנטראַבאַנדישע רעקאָרדירונגען, וואָס געוויסע ליבהאָבערס פֿון חזנות פֿלעגן מאַכן בסוד. זיי האָבן אַרײַנגעשמוגלט אַ רעקאָרדיר־אַפּאַראַט אין אַ תּלית־בײַטל אָדער אונטערן מאַנטל און רעקאָרדירט דעם חזן, אַפֿילו ווען מע טאָר נישט, שבת אָדער יום־טובֿ. די אָ ייִדן זענען געווען גרייט צו ריזיקירן מיט דער אייגענער נשמה, אַבי צו פֿאַרמאָגן דאָס געזאַנג פֿון זייער באַליבטן חזן. אויף אַזעלכע רעקאָרדירונגען הערט מען אָפֿט אַ סך אימפּראָוויזאַציעס.
אויפֿן סימפּאָזיום האָט אויך גערעדט דער היגער ייִדיש־פּראָפֿעסאָר, דובֿ־בער קערלער. ער האָט דערציילט וועגן ייִדישע לידער, וואָס דער עולם האַלט זיי אָפֿט פֿאַר אַלטע פֿאָלקסלידער, כאָטש אין דער אמתן זענען די מחברים גוט באַקאַנט. למשל, „דער רבי אלימלך“ האָט געשריבן און קאָמפּאָנירט דער פּאָעט משה נאַדיר (יצחק רײַז), וואָס האָט געוווינט אין ניו־יאָרק. אַ סך פֿון די פּאָפּולערסטע לידער אונדזערע שטאַמען באמת פֿון אַמעריקע, נישט פֿון מיזרח־אייראָפּע.
לאָקוווּדס מוזיק מיט זײַן קאַפּעליע איז אַ יחיד־במינו, אַ געמיש פֿון עטלעכע מוזיקאַלישע זשאַנערס און סטילן: חזנות, ראָק, פֿאָנק, בלוז. באמת זענען זיי אַ מאָדערנע „אינדי“־ראָק־קאַפּעליע, וואָס זינגט תּפֿילות אויף לשון־קודש. עס איז טשיקאַווע צו הערן פֿאַרכאַפּנדיקע לידער מיט אַזאַ ריטעם און קלאַנג, אַז עס ווילט זיך טאַנצן, און זען, אַז די ווערטער האָבן אָנגעשריבן רבנים מיט הונדערטער יאָרן צוריק. אויפֿן קאָנצערט, למשל, האָבן זיי געשפּילט „אָדם יסודו“, אַ טייל פֿונעם פּיוט „ונתנה תּוקף“, וואָס ייִדן זאָגן ראָש־השנה. דאָס שטאַמט לויט דער מסורה פֿון הרבֿ אַמנון פֿון מײַנץ אין 11טן י״ה.
נאָך דעם איז אויפֿגעטראָטן אַ צווייטע גרופּע: „די אומשטאַרביקע חזנטעס“, וואָס באַשטייט פֿון עטלעכע פֿון די בעסטע חזנטעס פֿון אונדזער דור: יהודית בערקסאָן אַליין, רחל וועסטאָן, שאַהאַנאַ מעקיני־באַלדאָן און ריקי רויז. זיי האָבן געזונגען קלאַסישע תּפֿילות פֿונעם אַלטן רעפּערטואַר פֿון די גרויסע חזנים און חזנטעס פֿון אַ מאָל: „אַחינו“, „רצה במנוחתינו“, און „שׂים שלום“. די ווירטואָזקייט פֿון די חזנטעס האָט געמאַכט אַ געוואַלדיקן רושם אויף מיר און איך בין זיכער אויך אויף די אַנדערע.
איין ליד איו געווען טיילווײַז אויף ייִדיש: „איך בענק אַהיים“, געזונגען פֿון רחל וועסטאָן, וואָס איז באַקאַנט פֿון אַן אַלטער רעקאָרדירונג פֿון דער משפּחה מאַלאַווסקי, מיט דער באַקאַנטער חזנטע גאָלדי מאַלאַווסקי. הערנדיק דאָס ליד האָט דער עולם מסתּמא דערפֿילט, ווי איך אַליין, אַ בענקשאַפֿט נאָך דער אַלטער היים אין מיזרח־אייראָפּע, און נאָך דער אַמאָליקער ניו־יאָרק, וווּ חזנות און ייִדיש האָבן געלעבט אויף אַ ברייטן פֿאַרנעם.
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