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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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Vanderbilt launches inquiry into instructor after math question about Israeli occupation draws criticism

(JTA) — Vanderbilt University has launched an inquiry into a mathematics lecturer whose classroom exercise about Palestinian territory drew criticism from the activist group StopAntisemitism.

Tekin Karadağ, a senior lecturer at the university’s department of mathematics, drew the ire of the antisemitism watchdog after it obtained a slide from one of his lectures that used a pro-Palestinian protest slogan and suggested that Israel was shrinking the Palestinian territory.

“Assume Palestine as a state with a rectangular land shape. There is the Mediterranean Sea on the west and the Jordan River on the east,” read the slide. “From the river to the sea, Palestine (…) was approximately 100 km. in 1946. The land decreases by 250 sq. km per year, due to the occupation by Israel. How fast is the width of the land decreasing now?”

Karadǎg, a Turkish national who received his PhD from Texas A&M University in 2021, included the question under “examples related to the popular issues” in a survey of calculus class, according to StopAntisemitism, which wrote in a post on X that Karadǎg was “bringing his anti-Israel, antisemitic bias into his classroom.”

In a statement shared with the Jewish Telegraphic Agency, Vanderbilt said that the content had been removed and that an inquiry had been launched into Karadağ.

“The university has received reports alleging a member of the faculty engaged in unprofessional conduct related to content shared during course instruction,” the school said. “The content in question has been removed, and a formal inquiry has been initiated consistent with relevant university policy.”

In recent years, rhetoric about the Israeli-Palestinian conflict on college campuses has grown increasingly fraught, with professors’ commentary on the region sparking heavy scrutiny and, at times, disciplinary measures when their universities have determined that they exceeded the bounds of academic freedom. A recent report by Columbia University’s antisemitism task force found that students frequently experienced pro-Palestinian advocacy in classes entirely unrelated to the Middle East — such as dance or math classes.

The inquiry was not the first time that Vanderbilt took swift action against the expression of pro-Palestinian sentiments on its campus.

In March 2024, the university, which has roughly 1,100 Jewish undergraduate students, was among the first universities to expel students who participated in pro-Palestinian demonstrations. This year, the school’s antisemitism “grade” from the Anti-Defamation League was bumped up from a “C” to an “A.”

The post Vanderbilt launches inquiry into instructor after math question about Israeli occupation draws criticism appeared first on The Forward.

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Hugh Laurie rejects ‘Zionist’ label after his tribute to Israeli ‘Tehran’ producer sparks social media firestorm

(JTA) — British actor Hugh Laurie pushed back against being labeled as a “Zionist” after facing a wave of online criticism for posting a tribute to the Israeli producer of the hit television show “Tehran.”

“Dana Eden, who co-created and produced ‘Tehran’, died on Sunday, seemingly by her own hand,” Laurie, who played a nuclear inspector in the show’s third season, tweeted last week. “It’s a terrible thing. She was brilliant, and funny, and an exceptional leader. Love and condolences to all who knew her.”

The seemingly innocuous post eulogizing Eden, 52, who was found dead while filming the latest season of the hit Apple TV+ series in Athens last week, quickly drew a volley of backlash on social media.

“She was part of the occupation force’s propaganda arm,” wrote one user in response to Laurie’s post. “What a shame, didn’t expect you to be a closet Zionist.” Another wrote that Eden “creates propaganda for Israel so that they can kill kids more effectively. People should have no sympathy for her.”

The award-winning series, which follows a young Israeli Mossad agent in Iran, was produced by the Israeli public broadcaster Kan and purchased by Apple TV+ in 2020 for roughly $20 million. Eden’s death, for which no cause has been announced, occurred during production of the show’s fourth season, which had already stalled following Oct. 7.

Laurie is not the first actor to spurn the “Zionist” label, as entertainers in recent years have increasingly faced pressure to declare their views on Israel. In December, Jewish actress Odessa A’zion pushed back on claims she was a Zionist after an image of her wearing an IDF shirt as a teenager circulated online.

On Friday, Laurie, who previously starred in the Emmy Award-winning medical drama “House,” shot back at the criticism.

“Nothing I have ever said or done could lead a sane person to believe that I am a Zionist,” wrote Laurie in a post on X. “However.  If someone exults in the death of a friend of mine, yes I will block them.  If you wouldn’t do the same in my position, you can f—ck off too.”

Laurie’s subsequent post also drew outcry, but this time from pro-Israel influencers who lamented the actor’s disavowal of the Zionist label, calling him “weak” and a “pathetic weasel” in the replies.

Freelance journalist Angela Epstein replied to Laurie’s post, writing, “Not Hugh Laurie as well. I thought he was one of the decent ones….”

“God almighty, why does no one understand English any more?” wrote Laurie in response to Epstein’s critique. “I have not spoken or written a word that would indicate pro or anti Zionism. That’s what those words mean. Blimey.”

The post Hugh Laurie rejects ‘Zionist’ label after his tribute to Israeli ‘Tehran’ producer sparks social media firestorm appeared first on The Forward.

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German anti-Zionist group’s plan to protest at Buchenwald memorial over kaffiyeh ban sparks outrage

(JTA) — An anti-Zionist group in Germany has drawn condemnation after it announced plans for a protest against the Buchenwald concentration camp memorial in response to a ban on pro-Palestinian symbols at the site.

The group Kufiyas in Buchenwald claims that the memorial has become a place of “historical revisionism and genocide denial.” It announced a demonstration for April 11, the anniversary of the liberation of the Nazi concentration camp.

“Instead of honoring the persecuted and resolutely opposing every genocide, the memorial spreads Israeli propaganda and provides the ideological ammunition for the ongoing genocide in Palestine,” the group says on its website.

Buchenwald, one of the first concentration camps built by the Nazis and one of the largest in the country, was the site of the murder of roughly 56,000 male prisoners, including 11,000 Jews, from 1937 to 1945.

Last year, a German court ruled that the concentration camp had a right to refuse entry to visitors who wear a keffiyeh, a traditional Palestinian headscarf that has been adopted by pro-Palestinian protesters. The ruling stemmed from a lawsuit by a woman who attempted to wear the scarf to an event commemorating the concentration camp’s liberation.

The woman, who was only identified by her first name, Anna, posted a testimony about her actions on the Kufiyas in Buchenwald Instagram page in which she said she was inspired by the resistance of Buchenwald prisoners.

“Our fundamental principle is this: criticism of the Israeli government’s policies, settlement policy, or actions in the Gaza Strip is legitimate,” said the Buchenwald Foundation’s director Jens-Christian Wagner in a statement outlining the memorial’s protocols. “However, it becomes antisemitic when used to relativize the Holocaust and discredit its victims as perpetrators. We will not tolerate this at the Buchenwald Memorial.”

The campaign against the memorial has been signed onto by a host of pro-Palestinian groups, including the International Jewish Anti-Zionist Network and the German group Jewish Voice for a Just Peace in the Middle East, which has defended the protest on X as evidence of what “commemorating past German crimes has to do with rejecting current ones.”

In a post on Instagram announcing the protest earlier this month, the Kufiyas in Buchenwald group wrote that it would hold a “public protest” in Weimar, the German city located nearby the concentration camp. The group also said it planned to host lectures and a “tour that vividly illustrates the events in the former concentration camp.”

It was unclear whether the protest is intended to take place outside the memorial itself. Kufiyas in Buchenwald did not immediately respond to an inquiry from the Jewish Telegraphic Agency about the location of the protest.

The protest quickly drew condemnation from German leaders, including the country’s antisemitism czar Felix Klein, who told the Swiss outlet Neue Zürcher Zeitung that the protest marked a “new low point in the unfortunately all-too-common reversal of perpetrator and victim roles.”

Michael Panse, the commissioner for combatting antisemitism for the German state Thuringia, where Weimar is located, told the outlet that the protest was “tasteless and historically ignorant.”

The protests also drew condemnation from the European Jewish Congress, which wrote in a post on X that the demonstration represents a “deeply troubling instrumentalization of Holocaust remembrance.”

“Holocaust memorial sites are places of solemn reflection and respect for the victims of National Socialism,” the post continued. “They must never be exploited to promote agendas that deny Israel’s legitimacy or glorify those who perpetrate violence against Jews.”

The post German anti-Zionist group’s plan to protest at Buchenwald memorial over kaffiyeh ban sparks outrage appeared first on The Forward.

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