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.
Uncategorized
Mediators Still Seek to Bridge US, Iran Gaps Despite No Face-to-Face Talks
People walk past a billboard with a graphic design about the Strait of Hormuz on a building, amid a ceasefire between US and Iran, in Tehran, Iran, April 27, 2026. Photo: Majid Asgaripour/WANA (West Asia News Agency) via REUTERS
Work has not halted to bridge gaps between the United States and Iran, sources from mediator Pakistan said, despite the absence of face-to-face diplomacy after President Donald Trump called off a trip by his envoys over the weekend.
Iranian sources disclosed Tehran’s latest proposal on Monday, which would set aside discussion of Iran‘s nuclear program until the war is ended and disputes over shipping from the Gulf are resolved. That is unlikely to satisfy Washington, which says nuclear issues must be dealt with from the outset.
Hopes of reviving peace efforts have receded since the US president scrapped a visit on Saturday by his envoy Steve Witkoff and son-in-law Jared Kushner to Islamabad, the Pakistani capital, where Iranian Foreign Minister Abbas Araqchi shuttled in and out twice over the weekend.
Araqchi also visited Oman over the weekend and went to Russia on Monday, where he met President Vladimir Putin and received words of support from a longstanding ally.
OIL PRICES RISE AGAIN
With the warring sides still seemingly far apart on issues including Iran‘s nuclear ambitions and access through the crucial Strait of Hormuz, oil prices resumed their upward march when trade reopened on Monday. Brent crude was up around 3.5% at around $108.8 a barrel by 1500 GMT.
“If they want to talk, they can come to us, or they can call us. You know, there is a telephone. We have nice, secure lines,” Trump told “The Sunday Briefing” on Fox News.
“They know what has to be in the agreement. It’s very simple: They cannot have a nuclear weapon; otherwise, there’s no reason to meet,” Trump said.
Araqchi expressed a different perspective, telling reporters in Russia that Trump requested negotiations because the US has not achieved any of its objectives.
ISLAMABAD REOPENS AFTER LOCKDOWN TO HOST TALKS
Senior Iranian sources, speaking on condition of anonymity, told Reuters the proposal carried by Araqchi to Islamabad over the weekend envisioned talks in stages, with the nuclear issue to be set aside at the start.
A first step would require ending the US-Israeli war on Iran and providing guarantees that Washington cannot start it up again. Then negotiators would resolve the US blockade and the fate of the Strait of Hormuz, which Iran aims to reopen under its control.
Only then would talks look at other issues, including the longstanding dispute over Iran‘s nuclear program, with Iran still seeking some kind of US acknowledgment of its right to enrich uranium for what it says are peaceful purposes.
In a sign that no face-to-face meetings are planned any time soon, streets reopened in Pakistan’s capital Islamabad, which had been locked down for a week in anticipation of talks that never took place. The luxury hotel that had been cleared out to serve as a venue was again taking reservations from the public.
Pakistani officials said negotiations were still taking place remotely, but there were no plans to convene a meeting in person until the sides were close enough to sign a memorandum.
SHIPPING SNARLED BY BOTH SIDES
Although a ceasefire has paused the US-Israeli strikes on Iran that began on Feb. 28, no agreement has been reached on terms to end a war that has killed thousands and driven up oil prices. Both sides could be settling in for a test of wills.
Iran has largely blocked all shipping apart from its own from the Gulf through the Strait of Hormuz since the war began. This month, the United States began blockading Iranian ships.
Six tankers loaded with Iranian oil have been forced back to Iran by the US blockade in recent days, ship-tracking data shows, underscoring the impact the war is having on traffic.
Between 125 and 140 ships usually crossed in and out of the strait daily before the war, but only seven have done so in the past day, according to Kpler ship-tracking data and satellite analysis from SynMax, and none of them were carrying oil bound for the global market.
With his approval ratings falling, Trump faces domestic pressure to end the unpopular war. Iran‘s leaders, though weakened militarily, have found leverage with their ability to stop shipping in the strait, which normally carries a fifth of global oil shipments.
However, experts have warned that the Iranian economy is on the verge of collapse, especially if the US blockade continues to slash Iran’s oil exports.
Uncategorized
Five Stand Trial in Germany Over Attack on Israeli Defense Company Office
Elbit Systems logo is seen in this illustration taken July 26, 2025. Photo: REUTERS/Dado Ruvic/Illustration
Five people appeared in court in Stuttgart on Monday on charges of causing about 1 million euros ($1.17 million) of damage at the German site of an Israeli defense company, the court said.
Prosecutors say the defendants, aged 25 to 40, trespassed and shouted pro-Palestinian statements as they smashed office equipment, measuring devices and windows at the business in the southern city of Ulm, the court added.
According to the charges, the defendants acted as members of the “Palestine Action Germany” organization, which later published videos claiming responsibility for the attack.
The defendants, who were not named, are Irish, British, Spanish, and German, prosecutors have said.
News outlets including Stuttgarter Zeitung and broadcaster SWR said the vandalized office belonged to Israeli defense electronics firm Elbit Systems.
Elbit, which has an office in Ulm, did not immediately respond to a request for comment. The court did not identify Elbit as the target of the Ulm attack but said the company had been the target of attacks by “Palestine Action” groups in 2024.
Attacks against Jewish people and targets have risen worldwide since war erupted in Gaza in October 2023, following an attack on Israel by Hamas-led terrorists and Israel’s subsequent military offensive.
Monday’s hearing took place in a high-security facility at the court, officials said.
The Stuttgart court has previously said that more than a dozen hearings have been scheduled in the case until the end of July.
Uncategorized
Ukraine to Take Measures Against Israel if Grain Ship Docks, Source Says
Ukraine’s President Volodymyr Zelenskiy attends a press conference with European Commission President Ursula von der Leyen (not pictured) and European Council President Antonio Costa (not pictured) on the fourth anniversary of Russia’s full-scale invasion of Ukraine, in Kyiv, Ukraine, Feb. 24, 2026. Photo: REUTERS/Valentyn Ogirenko
Israel risks a diplomatic and legal response from Kyiv if it allows a vessel carrying grain from Russian-occupied Ukraine to dock at the port of Haifa, a Ukrainian diplomatic source told Reuters on Monday.
Israel‘s Haaretz newspaper reported earlier that the vessel Panormitis, which it said was carrying grain from occupied Ukrainian territory that Kyiv regards as stolen, was waiting for permission to berth in Haifa.
“If this ship and its cargo isn’t rejected, we reserve the right to deploy a full suite of diplomatic and international legal responses,” the Ukrainian source said on condition of anonymity.
Israel‘s foreign ministry did not immediately respond to a request for comment.
Haaretz reported on Sunday that four shipments of grain from occupied Ukraine had already been unloaded in Israel this year.
“The practice of laundering stolen goods is unacceptable, and Israel has essentially shrugged off our demands regarding the previous vessel,” the source said.
The source added Kyiv was tracking the vessel, warning that allowing it to dock would have consequences for bilateral relations between Ukraine and Israel.