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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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Iran Leaders Join Crowds on Tehran’s Streets to Project Control in Wartime
Iranians gather at a park on Nature Day, amid the U.S.-Israeli conflict with Iran, in Tehran, Iran, April 2, 2026. Photo: Majid Asgaripour/WANA (West Asia News Agency) via REUTERS
After more than a month of being stalked by targeted assassinations, Iran’s leadership has adopted a new tactic to show it is still in control – with senior officials walking openly in the streets among small crowds who have gathered in support of the Islamic Republic.
In recent days, Iran’s president and foreign minister have separately mixed with groups of several hundred people in central Tehran. On Tuesday, state television aired footage of the two posing for selfies, talking to members of the public and shaking hands with supporters who had gathered in public areas.
According to insiders and analysts, the appearances are part of a calculated effort by Iran’s theocratic leadership to project resilience and authority — not only over the vital Strait of Hormuz but also over the population — despite a sustained US-Israeli campaign aimed at “obliterating” it.
One insider close to the hardline establishment said such public outings are intended to show that the Islamic Republic is “unshaken by strikes and that it remains in control and vigilant” as the war grinds on.
The US-Israeli war on Iran began on February 28 with the killing of veteran Supreme Leader Ayatollah Ali Khamenei and several senior military commanders in waves of strikes that have since continued to target top officials.
Iran’s new Supreme Leader, Mojtaba Khamenei, has not been seen in public since taking over on March 8 from his father. Foreign Minister Abbas Araqchi, meanwhile, was removed from Israel’s hit list amid mediation efforts last month, including by Pakistan, to bring Tehran and Washington together for talks to end the war.
Talks aimed at ending the war have since appeared to have petered out, as Tehran brands US peace proposals “unrealistic.” Against that backdrop, recent public appearances by President Masoud Pezeshkian and Araqchi appear designed to project defiance, if not a convincing display of public support.
A senior Iranian source said officials’ public presence demonstrates that “the establishment is not intimidated by Israel’s targeted killing of top Iranian figures.”
Asked whether Iran’s foreign minister or president were on any sort of kill list, an Israeli military spokesperson, Nadav Shoshani, said on Friday he would not “speak about specific personnel.”
NIGHTLY RALLIES TO SHOW RESILIENCE
Despite widespread destruction, Tehran appears emboldened by surviving weeks of intense US-Israeli attacks, firing on Gulf countries hosting US troops and demonstrating its ability to effectively block the Strait of Hormuz.
On Wednesday, US President Donald Trump vowed more aggressive strikes on Iran, without offering a timeline for ending hostilities. Tehran responded by warning the United States and Israel that “more crushing, broader and more destructive” attacks were in store.
Encouraged by clerical rulers, supporters of the Islamic Republic take to the streets each night, filling public squares to show loyalty even as bombs rain down across the country.
Analysts say the establishment is also seeking to raise the “political and reputational” cost of the strikes at a time when civilian casualties are deeply disturbing for Iranians.
Omid Memarian, a senior Iran analyst at DAWN, a Washington-based think tank, said the decision to send officials into gatherings reflects a layered strategy, including an effort to sustain the morale of core supporters at a moment of acute pressure.
“The system relies heavily on this base; if its supporters withdraw from public space, its ability to project control and authority weakens significantly,” Memarian said.
Speaking to state television, some in the crowds voice unwavering loyalty to Iran’s leadership; others oppose the bombing of their country regardless of politics; and some have a stake in the system, including government employees, students and others whose livelihoods are tied to it.
Hadi Ghaemi, head of the New York-based Center for Human Rights in Iran, said the establishment is using such loyal crowds as human shields to raise the cost of any assassination attempts.
“By being in the middle of large crowds they have protections that would make Israeli-American attacks against them very bloody and generate sympathy worldwide,” he said.
POTENTIAL PROTESTERS STAY OFF STREETS AT NIGHT
The Islamic Republic emerged from a 1979 revolution backed by millions of Iranians. But decades of rule marked by corruption, repression and mismanagement have thinned that support, alienating many ordinary people.
While there has been little sign so far of anti-government protests that erupted in January and abated after a deadly crackdown, the establishment has adopted harsh measures – such as arrests, executions and large-scale deployment of security forces – to prevent any sparks of dissent.
Rights groups have warned about “rushed executions” during wartime after Iran hanged at least seven political prisoners during the war.
“Many potential protesters are frightened by the continuing presence of armed men and violent crowds in the streets and largely stay at home once darkness falls,” Ghaemi said.
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US Fighter Jet Shot Down Over Iran, Search Underway for Crew, US Officials Say
FILE PHOTO: A U.S. Air Force F-16 jet fighter takes off from an airbase during CRUZEX, a multinational air exercise hosted by the Brazilian Air Force, in Natal, Brazil November 21, 2018. REUTERS/Paulo Whitaker/File Photo
A US fighter jet has been shot down over Iran and a search-and-rescue operation is underway for any survivors, two US officials told Reuters on Friday, in the first such known incident since the war began nearly five weeks ago.
The Pentagon and US Central Command did not respond to requests for comment.
The prospect of US pilots being alive and on the run inside Iran raises the stakes for the United States in a conflict that has struggled to win popular support among Americans, according to opinion polls.
It also presents a challenge to the US military, which faces the twin goals of trying to save the lives of any surviving U.S. crew and safeguard whoever is involved in perilous rescue missions.
Iranian officials called on civilians to be on the lookout for survivors and have flooded social media with images that purport to show wreckage from the aircraft.
The governor of Kohgiluyeh and Boyer-Ahmad province said anyone who captured or killed the crew “would be specially commended,” Iran’s semi-official news agency ISNA reported.
The incident follows threats by US President Donald Trump to bomb the country back to the “Stone Age,” including to attack Iran’s energy infrastructure and desalination plants, as he presses Tehran to end the war on US terms.
So far, 13 US military service members have been killed in the conflict and more than 300 have been wounded, according to the US Central Command. No US troops have been taken prisoner by Iran.
While Trump has repeatedly sought to portray the Iranian military as defeated, Reuters has reported on US intelligence showing Iran retains large amounts of missile and drone capability.
As of last week, the United States could only determine with certainty that it has destroyed about a third of Iran’s missile arsenal. The status of around another third was less clear but bombings likely damaged, destroyed or buried those missiles in underground tunnels and bunkers, Reuters’ sources said.
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Trump: US ‘Hasn’t Even Started Destroying What’s Left in Iran’
US President Donald Trump speaks on the day he honors reigning Major League Soccer (MLS) champion Inter Miami CF players and team officials with an event in the East Room of the White House in Washington, DC, US, March 5, 2026. Photo: REUTERS/Jonathan Ernst
i24 News – US President Donald Trump said Israel will halt its military campaign against Iran when he decides to end the war, while also signaling in recent conflicting statements that US strikes on Iranian targets could intensify.
Trump emphasized coordination with Israel, stating, “They’ll do what I tell them… They’ve been a good team player. They’ll stop when I stop. They’ll stop unless they’re provoked.”
At the same time, Trump indicated that the US has not yet fully escalated its military campaign. In a statement on Truth Social on Friday, he said, “Our military… hasn’t even started destroying what’s left in Iran. Bridges next, then electric power plants!” He added that Iran’s new leadership “knows what has to be done and has to be done FAST.”
According to a TIME report, Trump is weighing how to balance further military action with growing domestic pressure. Advisers warned him that public support for the war is declining as fuel prices rise and economic concerns mount in the United States.
The conflict has had global implications, particularly through disruptions in the Strait of Hormuz, a key route for oil shipments. The report notes that prolonged instability in the waterway could deepen economic strain and impact global markets.
At the same time, the administration has highlighted military achievements while acknowledging uncertainty over how to achieve broader goals such as limiting Iran’s long-term capabilities. Trump has expressed interest in ending the war but also in ensuring what he views as a decisive outcome.
The report indicates that the US is pursuing multiple options, with Trump seeking a way to conclude the conflict while maintaining pressure on Iran through continued or expanded strikes.
