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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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How to face life’s difficulties with total confidence

ווי אַזוי קען מען זיך באַוואָרענען פֿון ווערן פּאַראַליזירט ווען מען שטייט פֿאַר אַ סיטואַציע וואָס זעט אויס ווי אַ געפֿאַר?

דער ענטפֿער איז זייער פּשוט: מען דאַרף באַטראַכטן די סיטואַציע ווי אַ פֿאַרמעסט, אַנשטאָט ווי אַ באַדראָונג.

אָבער ווי אַזוי קען מען דערגרייכן אַזאַ ענדערונג פֿונעם קוקווינקל, אַז אַנשטאָט זיך צו פֿילן דערדריקט און אַנטמוטיקט, זאָל מען זיך פֿילן געשטאַרקט און מאָטיווירט?

צו דעם דאַרף מען צוויי זאַכן: ערשטנס, זיך פֿאָרשטעלן דעם רעזולטאַט וואָס מען וועט האָבן ווען מען וועט איבערקומען די שוועריקייט, און צווייטנס, זיך געהעריק צוגרייטן, כּדי צו קענען מצליח זײַן אין איבערקומען די אַרויספֿאָדערונגען.

אין דער פּרשה די וואָך, ויצא, לייענען מיר ווי יעקבֿ אָבינו איז אַרויס פֿון זײַן טאַטנס הויז אין באר־שבֿע, און זיך געלאָזט אין וועג קיין חרן, צום הויז פֿון זײַן זיידן פֿון דער מאַמעס צד, בתואל. ער האָט דאָס געמוזט טאָן ווײַל ער האָט געוווּסט אַז זײַן ברודער עשׂו וויל אים הרגענען. יעקבֿ, נישט עשׂו, האָט דאָך באַקומען די ברכות פֿון זייער טאַטן יצחק.

ס׳איז אָבער דאָ אַ צווייטע סיבה פֿאַר יעקבֿס נסיעה. ער האָט געדאַרפֿט זוכן אַ שידוך, ווײַל זײַנע עלטערן זענען נישט געווען צופֿרידן מיטן אויפֿפֿיר פֿון די פֿרויען און מיידלעך אין כּנען.

לאָמיר זיך אַרײַנשטעלן אין זײַן מצבֿ. דאָס לעבן אין באר־שבֿע איז פֿאַר יעקבֿן געווען רויִק און באַקוועם. ער האָט געוווינט בײַ זײַנע עלטערן; זײַענדיק אַ בחור האָט ער ניט געהאַט                                  קיין באַזונדערע דאגות, און האָט געקענט זיך אָפּגעבן מיט לימוד התּורה און פּערזענלעכער אַנטוויקלונג. און פּלוצלינג, האָט ער געמוזט אַנטלויפֿן פֿון דעם באַקוועמען און באַשיצטן מצבֿ, און זיך אַרויסלאָזן אויף אַ וועג צו אַן אָרט וואָס איז געווען פֿול מיט שוועריקייטן און סכּנות.

חז״ל דערקלערן אַז דער נאָמען פֿון דעם שטאָט חרן, וווּהין ער איז געגאַנגען, איז פֿאַרבונדן מיטן וואָרט „חרון אף“, וואָס מיינט כּעס, ווײַל דער אויפֿפֿיר פֿון די אײַנוווינער האָט אַרויסגערופֿן דעם כּעס פֿונעם אויבערשטן.

דערצו איז זײַן פֿעטער לבֿן, וואָס האָט געוווינט מיט בתואל, געווען באַרימט מיט זײַן אומערלעכקייט.

קענען מיר זיך פֿאָרשטעלן אַ גרעסערן קאָנטראַסט צווישן דער רויִקייט פֿון זײַן היימישער סבֿיבֿה און דעם שווערן מצבֿ וואָס האָט אים דערוואַרט אין זײַן נײַעם אָרט?

אָן קיין ספֿק האָט ער מסתּמא געפֿילט אַנגסטן, אומזיכערקייט און הילפֿלאָזיקייט.

די תּורה באַשרײַבט ווי יעקבֿ האָט אויפֿן וועג זיך אָפּגעשטעלט דאַווענען, און ווי ער האָט גענומען שטיינער כּדי זיך צו באַשיצן פֿון ווילדע חיות בשעת ער האָט זיך געלייגט שלאָפֿן אויפֿן וועג.

אין זײַן חלום האָט יעקבֿ געזען אַ לייטער וואָס איז געשטאַנען אויף דער ערד, און זײַן שפּיץ האָט דערגרייכט ביזן הימל. ער האָט געזען מלאכים אַרויפֿגיין און אַראָפּגיין אויפֿן לייטער.

דער אייבערשטער האָט צו אים גערעדט און צוגעזאָגט אים צו באַשיצן. ער האָט איבערגעחזרט זײַן הבֿטחה צו געבן זײַנע קינדער דאָס לאַנד אויף וועלכן ער איז געלעגן. דערצו האָט ער אים געבענטשט מיט אַ גרויסער און חשובֿער נאָכקומערשאַפֿט, סײַ אין כּמות און סײַ אין איכות.

ווען יעקבֿ האָט זיך אויפֿגעוועקט פֿון זײַן חלום, האָט ער געמאַכט אַ נדר: אויב דער אויבערשטער וועט אים באַגלייטן, אים געבן ברויט צו עסן און קליידער אָנצוטאָן, און ער וועט קענען צוריקקומען צום הויז פֿון זײַן טאַטן מיט זײַן רוחניותדיקער און מאָראַלישער שלימות, וועט ער אויפֿשטעלן אַ הייליקן אָרט לכּבֿוד דעם אויבערשטן און אָפּגעבן מעשר פֿון אַלץ וואָס ער פֿאַרמאָגט. אָפּגעבן מעשׂר — אַוועקגעבן אַ צענטל פֿון דײַן פֿאַרמעגן אויף צדקה — איז אַ גרויסע מיצווה.

גלײַך דערנאָך דערציילט אונדז די תּורה: וַיִּשָּׂא יַעֲקֹב רַגְלָיו וַיֵּלֶךְ אַרְצָה בְנֵי קֶדֶם. „יעקבֿ האָט אויפֿגעהויבן זײַנע פֿיס און איז געגאַנגען צום לאַנד פֿון די מענטשן אין מזרח.“

רש״י דערקלערט אַז דער אויסערגעוויינטלעכער אויסדרוק, „וישא יעקב רגליו“, ווײַזט אָן אַז יעקבֿס פֿיס זענען געוואָרן אַ סך לײַכטער, ווײַל זײַן האַרץ איז געוואָרן פֿריילעך נאָך דער הבֿטחה פֿון דער געטלעכער שמירה. יעקבֿ האָט נישט געמיינט אַז דאָס וואָס דערוואַרט אים וועט זײַן גרינג. ער האָט אָבער געהאַט בטחון אַז ער וועט מצליח זײַן. מיט אָט דער זיכערקייט האָט ער געפֿילט אַז ער האָט די כּוחות צו קענען בײַשטיין און איבערקומען יעדע שוועריקייט וואָס האָט אים דערוואַרט.

די הבֿטחה פֿונעם אויבערשטן אַליין איז אָבער נישט געווען גענוג. ער האָט זיך אויך געדאַרפֿט געהעריק צוגרייטן צו דעם וואָס האָט אים דערוואַרט.

דרײַ יסודות פֿון אָט דער צוגרייטונג ווערן אָנגעדײַט אין די דרײַ באַדינגונגען וואָס יעקבֿ האָט דערמאָנט אין זײַן נדר: עסן; קליידער, און צוריקקומען צום טאַטנס הויז אין דעם זעלבן רוחניותדיקן און מאָראַלישן מצבֿ.

אין צוגאָב צו דעם פּשוטן זין, ליגט אין די ווערטער אויך אַ גײַסטישן באַדײַט:

עסן גיט דעם מענטש חיות און גיט אים אַרײַן כּוח. אויף אַ רוחניותדיקן אופֿן ווערט די תּורה פֿאַרגליכן צו עסן, ווײַל דורך לימוד התּורה דערנערט מען זיך אינטעלעקטועל און רוחניותדיק צום אייבערשטן. פּונקט ווי דאָס גשמיותדיקע עסן ווערט פֿאַרדייט און ווערט אַ טייל פֿון דעם מענטש אַליין, און גיט אים חיות און כּוח, אַזוי אויך ווערט די תּורה וואָס מען לערנט אַ טייל פֿון אונדזער אינערלעכן לעבן און גיט אונדז רוחניותדיקע חיות.

קליידער נעמען אַרום דעם מענטש און באַשיצן אים פֿון דרויסנדיקע השפּעות. אַזוי אויך ווען אַ ייִד איז מקיים די מיצוות שאַפֿן זיי, די מיצוות, אַ רוחניותדיקע באַשיצונג פֿונעם מענטשן.

דער לערנונג איז גילטיק אויך פֿאַר אונדז הײַנט.

כּדי צו קענען זיך שטעלן אַנטקעגן די שוועריקייטן פֿון לעבן מיט בטחון און שׂימחה, דאַרף מען זיך צוגרייטן דורך דרײַ זאַכן: ערשטנס, לימוד התּורה — דאָס שטאַרקט אונדז פֿון אינעווייניק און גיט אונדז רוחניותדיקע חיות און כּוחות. צווייטנס, מקיים זײַן די מצוות: דאָס באַשיצט אונדז פֿון דרויסן און גיט אונדז די נויטיקע רוחניותדיקע שמירה, און דריטנס, נישט פֿאַרלירן פֿון די אויגן דעם ענדגילטיקן ציל: דורך אונדזער באַגעגעניש מיט דער גשמיותדיקער וועלט פֿאַרוואַנדלען מיר די וועלט אין אַ „וווינאָרט“ פֿאַרן אויבערשטן, אַ „דירה בתּחתונים“.

דאָס איז דער טיפֿערער באַדײַט פֿון „צוריק קומען צום טאַטנס הויז“: צו ברענגען די גאַנצע וועלט צו אַ מצבֿ וווּ עס ווערט דערקענט אַז זי איז דעם טאַטנס – דעם אויבערשטנס — וווינאָרט. אַז יעדער באַגעגעניש און יעדע פֿאַרבינדונג מיט דער וועלט זאָל אויסדריקן דעם געטלעכן מקור, דעם געטלעכן בײַזײַן און דעם געטלעכן ציל פֿון זיין וועזן.

אַז מען פֿאַרשטייט קלאָר וואָס דער ציל איז, און מען גרייט זיך צו ווי געהעריק, איז מען אין אַ בעסערן צושטאַנד צו קענען אַנטקעגנגיין יעדע שוועריקייט מיט מוט און זיכערקייט.

ווי דער באַרימטער פּסיכיאַטער וויקטאָר פֿראַנקל האָט עס אַזוי שיין און טיפֿזיניק אויסגעדריקט:

„ווער עס האָט אַ ׳פֿאַרוואָס׳ אינעם לעבן, קען איבערקומען כּמעט יעדן ׳ווי אַזוי׳.“

The post How to face life’s difficulties with total confidence appeared first on The Forward.

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Boston suburb votes to divest from Israel

(JTA) — SOMERVILLE, Mass. — The City Council in this city north of Boston voted 10-1 Thursday night to ban the municipality from doing business with companies complicit in humanitarian violations, specifically naming those operating in “Israel and Palestine.”

Councilor Kristen Strezo cast the only opposing vote on the 11-member board.

Opponents of the ordinance fear that in execution it would be akin to a boycott of Israel, and as such would create a negative environment for the city’s Jewish and Israeli residents. The ban only involves companies that work with the municipality and does not impact companies that operate privately in Somerville. It also excludes sole proprietors (individuals operating as companies).

Somerville Mayor Jake Wilson’s office said given that the ordinance passed with a veto-proof majority, the measure is now considered final.

The ordinance was originally introduced in June by Councilors Ben Ewen-Campen and Ben Wheeler, after the City Council voted in November 2025 to implement ballot Question 3 on Israel divestment, which had been approved by 55.7% of voters earlier that month. Question 3 spoke of banning businesses that sustain “Israel’s apartheid, genocide, and illegal occupation of Palestine.”

During his campaign in 2025, Wilson did not endorse Question 3.

Nine councilors on Thursday night offered comments in advance of the vote.

Ewen-Campen, who wrote and revised the ordinance along with Wheeler, spoke about the importance of a Massachusetts city passing an ordinance about a country across the world, especially at a time when the federal government has clamped down on pro-Palestinian student protesters, noting two incidents of protesters being detained by ICE allegedly for speaking against Israel.

“I think the reason that people want us to be quiet about it is because when you do talk about it, there is just no way to justify it,” Ewen-Campen said.

“I am not under any illusion that Somerville is going to have some enormous impact on the world [by passing this ordinance], but I do think that all of us collectively deciding to be silent about this does have an impact on the world,” he said. “That is why I think it is worth it to have taken this action, and that is why I have asked for all of your support tonight.”

Strezo invoked the Holocaust to explain why she considered the ban antisemitic, referring to Kristallnacht, the Nov. 9-10, 1938, pogrom against Jews in Germany and Austria.

“A few years before Kristallnacht, the Nazis worked to deter the public from shopping at Jewish businesses,” she said. “Their efforts started in moments like tonight.” On behalf of her Jewish community, Strezo emphasized that the ordinance “makes us feel targeted. It makes us feel unsafe. It makes us feel unwelcome.”

As she spoke, members of the group Somerville for Palestine (S4P), who had gathered outside City Hall for a rally in advance of and throughout the meeting, could be heard through the window, the chanting getting increasingly louder until the words were clearly audible over Strezo’s speech: “Disclose, divest, we will not stop, we will not rest.”

“This ordinance will do nothing to solve the real conflict in the Middle East,” Strezo said. “What it will do and has been doing is make Jewish people and Israelis feel less welcome in our city spaces.”

One councilor pointed out that the ordinance, while worth passing, was not what she’d hoped. Councilor Emily Hardt said, “Supporting Palestinian human rights and standing firmly against antisemitism are not contradictory positions. I believe that both are essential to our commitment to human dignity.” She went on to say that she would have preferred an ordinance that was focused on the actions of the U.S. government, “our government,” but given that this was the ordinance up for the vote, she would support it. “I appreciate the attempts to align use of our resources with our commitments to the rights and dignity of all people, in Israel and Palestine and around the world,” she said.

When the vote was finalized, members of the group Somerville for Palestine and other supporters of the ordinance, many wearing keffiyehs, stood up and cheered as they left the chamber. Shalom Somerville members and others opposing the ordinance, many of whom wore white shirts with blue square pins and had stickers with “I’m not welcome here” on their chests, stood silently as most of the room emptied.

“It’s disappointing seeing councilors knowingly abdicating their responsibility,” said Sam Gechter, president of Shalom Somerville, the local community group that has been active in opposing both the 2025 ballot question and the ordinance. “[Mayor Wilson] made several promises that he would veto it during the campaign. He said he would veto anything that named a country, so we would love to see him do that.”

Activists from the group Somerville for Palestine hold a small protest outside City Hall, Somerville, Mass., Nov. 12, 2026. (Photo by Gavi Klein)

“It feels so clear that this is what the majority want given that ten of our councilors voted yes,” said Mo Katz-Christy, a member of S4P’s leadership and Jewish Caucus. S4P was a major advocate for the original ballot Question 3 and worked with Councilor Ewen-Campen on the ordinance.

“They passed a strong ordinance that named Israel and Palestine, that named the genocide,” Katz-Christy said, as the S4P group played music in celebration behind them. “It’s targeting companies that are really bad actors.”

Under the ordinance, any vendor who is submitting a bid for the city’s business would have to certify it meets the criteria outlined in the ordinance. If their certification is contested, the city will consult the findings of a number of international organizations and lists, including the database of business enterprises maintained by the United Nations Office of the High Commissioner for Human Rights, and the divestment short-list database maintained by the American Friends Service Committee’s Investigate Project. The ordinance specifies that a company could be excluded from this prohibition should the director of finance deem that their services “are essential to the operation of the city, including by avoiding a significant financial burden.”

In the final Legislative Matters Committee meeting discussing the ordinance on Oct. 27, chief procurement officer Angela Allen, echoing the earlier sentiments of City Solicitor Cindy Amara, expressed concerns that the ordinance “would likely not sustain a legal challenge.” She noted that the city does not have the legal authority to debar bidders (prospective vendors) and that she was unsure who would be responsible for making the final call on whether or not a company met the criteria in the ordinance.

“This adds another layer of complexity that I am concerned, from a practical standpoint, could cause confusion and delay that would not be in the best interest of the city,” she said.

The vote came after several rounds of negotiations in the city’s Legislative Matters Committee, during which councilors debated the ethical and financial merits of the ordinance. The final ordinance that was voted on included updates in language that specified the companies that would be included in the ban must be “directly, knowingly and consistently” enabling or facilitating violations of humanitarian law, including in “Israel and Palestine.”

Longtime Somerville resident and Shalom Somerville member Kate Auspitz, who was present at the meeting, said, “I will never vote for any of them [city councilors] again except for Kristen Strezo… I do think it’s antisemitic, whatever they say. I think it’s denying Jews self-determination.”

Outside, in line to enter the City Council chambers, Willie Burnley Jr., a member of Boston Democratic Socialists of America who ran for mayor against Wilson last year and supported ballot Question 3, said: “I’m here to support my neighbors who are fighting for a better world, who are trying to get their city councilors to fight for the will of the people.”

This article originally appeared on JTA.org.

The post Boston suburb votes to divest from Israel appeared first on The Forward.

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House Democratic leader Hakeem Jeffries calls for ‘dramatic change’ in Israel policy

(JTA) — U.S. House of Representatives Minority Leader Hakeem Jeffries, a New York Democrat poised to become the chamber’s speaker in January, called for a significant shift in the U.S.-Israel relationship but stopped short of opposing defense partnerships.

“The status quo is unacceptable, and we need dramatic change,” Jeffries told reporters at a Thursday press conference.

Jeffries expressed a need for such change with respect to the West Bank, to Gaza and to a memorandum of understanding with Israel over military aid set to expire in 2028. That agreement, signed by the Obama administration in 2016, pledged $38 billion in military aid for Israel from fiscal years 2019 through 2028.

President Donald Trump has said he will wind the aid down before it is set to lapse, citing Israel’s unpopularity, and Israeli Prime Minister Benjamin Netanyahu also backs ending military aid and replacing it by strengthening U.S.-Israel military cooperation.

But when asked about recent demands from Sen. Chris Van Hollen to remove provisions on defense collaborations with Israel from the National Defense Authorization Act – the model of what Netanyahu hopes to sustain – Jeffries responded that he hadn’t spoken with the senator. Van Hollen, a Democrat from Maryland, plans to challenge Senate Minority Leader Chuck Schumer leadership of the Senate Democratic caucus when Democrats take over the chamber in January.

Instead, Jeffries said that “things have to dramatically change over in the Middle East,” without elaborating on the details of such changes. He stressed the importance of ensuring “a safe and secure Israel living side by side as a Jewish and democratic state with an independent Palestinian state that provides dignity and self-determination for the Palestinian people.” Netanyahu and much of the Israeli public oppose the establishment of a Palestinian state.

While Jeffries noted that he wasn’t saying anything he hasn’t “previously said publicly,” his decision to reiterate this need for change following the election as Democrats are set to seize control of Congress demonstrates how the party is adopting a more critical posture on Israel.

This past summer, Jeffries wrote to colleagues urging them to reject an amendment proposed by Rep. Thomas Massie, a Republican from Kentucky, that would have cut military aid to Israel. While a slight majority of Democrats voted in favor of the measure, it was defeated after getting no Republican support aside from its sponsor.

Jeffries had argued at the time that “there are more decisive ways to achieve the urgent change necessary when it comes to the far-right Netanyahu government,” warning that Massie’s amendment would have restricted Israel’s ability to confront Hamas, Hezbollah and other terror groups.

Nonetheless, Jeffries also noted in the letter that the Obama-era memorandum of understanding “expires imminently,” and that “a meaningful change in direction is needed.” Writing that Israel has a robust economy and is capable of paying for its own weapons, he said that future security arrangements “should be structured consistently with defense agreements that exist with our other Western allies.”

Since writing that letter in July in the lead-up to the midterm elections, Jeffries focused primarily on domestic issues and didn’t often address the Israeli-Palestinian conflict. On Thursday, however, the topic was back on the table.

“We’ll work as a caucus to make sure that we can bring about the just and lasting peace that Israelis and Palestinians deserve,” Jeffries said.

This article originally appeared on JTA.org.

The post House Democratic leader Hakeem Jeffries calls for ‘dramatic change’ in Israel policy appeared first on The Forward.

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