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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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Australia PM Albanese ‘Profoundly Sorry’ for Failing to Prevent Bondi Beach Attack
Australian Prime Minister Anthony Albanese speaks at the Sydney Opera House during a National Day of Mourning for the victims of the Dec. 14, 2025, mass shooting at a Jewish Hanukkah celebration at Bondi Beach, in Sydney, Australia, Jan. 22, 2026. Photo: REUTERS/Jeremy Piper
Australian Prime Minister Anthony Albanese said on Thursday he was “profoundly sorry” for his failure to prevent the Bondi Beach mass shooting, as the country observed a day of mourning for the victims of the attack.
Police say a father and son opened fire at an event celebrating the Jewish festival of Hanukkah on Dec. 14, killing 15 people in Australia‘s worst mass shooting in decades.
They say the two men were inspired by Islamic State to carry out the attack, which the government has called an act of terrorism against Jewish people.
Flags were flown at half-mast across the country ahead of a memorial event at Sydney’s iconic Opera House, where Albanese apologized to the relatives of the victims in the audience.
“You came to celebrate a festival of light and freedom and you left with the violence of hatred. I am deeply and profoundly sorry that we could not protect your loved ones from this evil,” Albanese said to sustained applause in his speech at the event.
Last month, the prime minister said he was “sorry for what the Jewish community and our nation as a whole has experienced” – an apology that some relatives said was insufficient.
A minute’s silence, including on the country’s main television channels, was held across the nation just after 7 pm in Sydney (0800 GMT) as the memorial event began.
Event attendees lit candles and heard speeches from other lawmakers, as well as Jewish prayers and video tributes.
Buildings across the country, including cricket stadiums in Melbourne and Perth, were also illuminated, while play was paused during the Australian Open tennis tournament to observe the minute’s silence.
The Bondi attack shocked the nation and led to calls for tougher action on antisemitism and gun control, with critics of Albanese saying he had not done enough to crack down on a spate of attacks on the Jewish community in recent years.
The government disputes this, and has already passed legislation tightening background checks for gun licenses, as well as separate legislation that would lower the threshold for prosecuting hate speech offenses.
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US Pitches ‘New Gaza’ Development Plan
A drone view shows Palestinians walking past the rubble, following Israeli forces’ withdrawal from the area, amid a ceasefire between Israel and Hamas in Gaza, in Gaza City, Oct. 11, 2025. Photo: REUTERS/Dawoud Abu Alkas
The United States on Thursday announced plans for a “New Gaza” rebuilt from scratch to include residential towers, data centers, and seaside resorts, part of President Donald Trump’s push to advance an Israel-Hamas ceasefire shaken by repeated violations.
Trump has parlayed the ceasefire into a broader “Board of Peace” initiative aimed at resolving conflicts globally.
After hosting a signing ceremony for the board in Davos, Switzerland, on Thursday, Trump invited his son-in-law Jared Kushner to present development plans for Gaza, its densely populated cities and towns now in ruins from two years of war.
“In the beginning, we were toying with [building] a free zone, and then [having] a Hamas zone,” Kushner told an audience in Davos of Trump’s early plans to rebuild Gaza, where nearly the entire 2 million population is internally displaced.
“And then we said, you know what? Let’s just plan for catastrophic success.”
‘MASTER PLAN‘
Kushner presented the audience with a slideshow depicting a “master plan” for what he termed a “New Gaza,” displayed on a color-coded map with areas reserved for residential development, data centers, and industrial parks.
The slides included an image of a Mediterranean coastline packed with glittering towers akin to those in Dubai or Singapore. They suggested redevelopment would begin in Rafah in the south, an area under complete Israeli military control.
But they did not address key issues such as property rights or compensation for Palestinians who lost their homes, businesses, and livelihoods during the war. Nor did they address where displaced Palestinians might live during the rebuilding.
Kushner did not say who would fund the redevelopment, which would first require clearing an estimated 68 million tons of rubble and war debris.
A conference will be held in Washington in the coming weeks “where we’ll announce a lot of the contributions that will be made … from the private sector,” Kushner said, without elaborating.
The slides shown by Kushner were nearly identical to slides leaked to the Wall Street Journal in December. The newspaper reported then that the US had offered to “anchor” 20% of the redevelopment project, without going into detail.
Trump has floated the idea of transforming Gaza, ruled for years by the Palestinian terrorist group Hamas, into the “Riviera of the Middle East,” an idea that has drawn criticism from Palestinians.
RAFAH CROSSING
Kushner’s presentation in Davos followed remarks by Ali Shaath, the Palestinian technocrat leader backed by Washington to administer the enclave under Trump’s 20-point plan for Gaza.
A key unfulfilled element of the ceasefire has been the reopening of Gaza’s key Rafah border crossing with Egypt for the entry and exit of Palestinians. Shaath, speaking by video link, announced the Rafah crossing would open next week.
“Opening Rafah signals that Gaza is no longer closed to the future and to the war,” Shaath said.
Israel, which controls the Gaza side of the crossing, has rejected reopening it until Hamas fulfills its ceasefire obligation of returning the remains of the last hostage held in the territory.
After Shaath’s announcement, an Israeli political source said a special effort was being made to return Ran Gvili’s remains and that Israel would discuss reopening the crossing starting next week.
The next phase of Trump’s Gaza plan would see Hamas disarm and international peacekeepers deploy in the crowded, coastal enclave as Israeli troops withdraw further. The first phase left Israel in control of well over half of Gaza, with Hamas holding a sliver of territory along the coast.
Israel has continued to carry out air and artillery strikes in Gaza, often accusing Hamas terrorists of preparing attacks on its troops or encroaching into areas it controls.
Israel launched its air and ground war in Gaza after a Hamas-led cross-border attack on Oct. 7, 2023, that killed 1,200 people. Palestinian terrorists also kidnapped 251 hostages during the massacre.
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Israel Selects Noam Bettan to Compete in 2026 Eurovision Song Contest
Noam Bettan, Israel’s representative for the Eurovision Song Contest 2026, poses in this undated handout photo. Photo: Courtesy of Kan, Timor Elmalach/Handout via REUTERS
Noam Bettan will represent Israel in the 70th Eurovision Song Contest in Vienna, Austria, in May, after winning the Israeli singing competition “Hakochav Haba” (“The Next Star”) this week.
This year will mark the first time since 2022 that Israel will be sending a male contestant to the Eurovision contest. For the last few years, Israel has been represented in the Eurovision competition by women: Yuval Raphael in 2025, Eden Golan in 2024, and Noa Kirel in 2023.
Bettan will participate in the first semifinal of the 2026 Eurovision Song Contest in Vienna on May 12. There will be a second semifinal on May 14 and based on the results of the audience and jury vote, the top 10 countries from both semifinals will advance to compete in the grand final on May 16.
Bettan, 27, was raised in Ra’anana, Israel, to French parents who immigrated to Israel with their two older sons. Bettan, who was also born in Israel, is fluent in French. He released his debut album in 2023, “Above the Water,” and a number of his songs have become hit singles in Israel including “Madame,” which he used as his audition song for “Next Star” this year. He has performed across Israel with his band. In 2018, he competed on the Israeli singing talent show “Aviv or Eyal,” where he finished in third place.
The finale of this year’s “Rising Star” aired on Israeli television on Tuesday night and the four finalists included Bettan, Gal De Paz, Shira Zloof, and Alona Erez. In the final they performed covers of songs, with Bettan performing a Hebrew track, before the top three advanced to the superfinal, where Bettan performed a rendition of the French song “Dernière danse.” The song that Bettan will sing in the 2026 Eurovision will be selected internally by a committee convened by Israel’s public broadcaster Kan, which organizes Israel’s participation in the Eurovision. The song is expected to be announced in March.
Bettan previously auditioned for “Next Star” as a teenager, but failed to make it on to the show. After being crowned the winner on Tuesday night, he thanked the Israeli public for selecting him to represent his country in the Eurovision.
“I will give it my all, I’ll do everything I can to represent our country. It’s such a huge f–king privilege,” he said.
Israel has participated in the Eurovision 46 times and won the contest four times, most recently in 2018 with Netta Barzilai and her song “Toy,” which gave Israel the opportunity to host the contest in Tel Aviv in 2019.
In December, members of the European Broadcasting Union, which organizes the Eurovision, voted that Israel will be allowed to compete in the contest this year despite demands from several countries to ban the Jewish state because of its military actions in the Gaza Strip during the Israel-Hamas war. Following the EBU’s announcement, Spain, Ireland, Iceland, the Netherlands, and Slovenia announced their decision to pull out of this year’s Eurovision in protest. Other countries are facing increasing pressure to withdraw from the song contest because of Israel’s involvement, and two past Eurovision winners have returned their trophies to the EBU in protest of Israel’s participation this year.
