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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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Iranian Lawmakers Compare Trump to ‘Pharoah,’ Judiciary Chief Vows to ‘Punish’ US President

Cars burn in a street during an anti-regime protest in Tehran, Iran, Jan. 8, 2026. Photo: Stringer/WANA (West Asia News Agency) via REUTERS

Amid soaring tensions with the United States, Iranian lawmakers on Monday cast President Donald Trump as a modern-day Pharaoh and hailed Supreme Leader Ayatollah Ali Khamenei as Moses, framing the nation’s worst domestic crisis in years as a battle of biblical proportions.

During a parliamentary session, Iranian lawmakers vowed that Khamenei would “make Trump and his allies taste humiliation.”

“Our leader would drown you in the sea of the anger of believers and the oppressed of the world, to serve as a lesson for the arrogant world,” Parliament Speaker Mohammad Bagher Ghalibaf was quoted as saying by local media. 

Ghalibaf also described the widespread anti‑government protests that have swept the country for weeks as an American‑Israeli plot and a “terrorist war,” claiming the unrest was being orchestrated to destabilize the state.

Tensions between Tehran and Washington have surged sharply in recent weeks, as Iranian security forces struggle to quell anti-regime protests and officials face mounting international pressure over the government’s brutal crackdown.

The nationwide protests, which began with a shopkeepers’ strike in Tehran on Dec. 28, initially reflected public anger over the soaring cost of living, a deepening economic crisis, and the rial — Iran’s currency — plummeting to record lows amid renewed economic sanctions, with annual inflation near 40 percent.

With demonstrations now stretching over three weeks, the protests have grown into a broader anti-government movement calling for the fall of Khamenei and Iranian President Masoud Pezeshkian and even a broader collapse of the country’s Islamist, authoritarian system.

On Sunday, Pezeshkian warned that any attempt to target the country’s supreme leader would amount to a declaration of war, accusing the United States of stoking mass protests that have thrown the nation into turmoil amid reports that Washington is weighing moves against the regime’s leadership.

“If there are hardship and constraints in the lives of the dear people of Iran, one of the main causes is the longstanding hostility and inhumane sanctions imposed by the US government and its allies,” the Iranian leader said in a statement.

The regime has escalated its threats following repeated statements by Trump, who has called for an end to Khamenei’s nearly four decades in power, labeled him “a sick man who should run his country properly and stop killing people,” and warned of possible strikes if the government’s brutal crackdown continues.

In response to Trump’s threats and mounting pressure, Iran’s judiciary chief, Gholamhossein Mohseni Ejei, has declared that authorities will seek to prosecute not only individuals accused of fueling the recent unrest but also foreign governments he blames for backing the protests.

“Those who called for it, those who provided financial support, propaganda or weapons — whether the United States, the Zionist regime or their agents — are all criminals and each of them must be held accountable,” Ejei told local media.

He even threatened to target Trump specifically.

“We will not abandon the pursuit and prosecution of the perpetrators of the recent crimes in domestic courts and through international channels,” the judiciary chief posted on the social media platform X. “The [resident of the United States, the ringleaders of the accursed Zionist regime, and other backers and supporters — both in terms of armaments and propaganda — of the criminals and terrorists behind the recent events are among the perpetrators who, in proportion to the extent and scale of their crimes, will be pursued, tried, and punished.”

Iranian officials have also dismissed Trump’s claims about halting execution sentences for protesters as “useless and baseless nonsense,” warning that the government’s response to the unrest will be “decisive, deterrent, and swift.”

Meanwhile, government officials have hailed victory over what they called one of “the most complex conspiracies ever launched by the enemies of” the country, while expressing deep gratitude to the “smart, noble, and perceptive” Iranian people.

However, the protests have not ceased, with violence continuing and tensions escalating.

The US-based group Human Rights Activists in Iran has confirmed 4,029 deaths during the protests, while the number of fatalities under review stands at 9,049. Additionally, at least 5,811 people have been injured the protests, and the total number of arrests stands at 26,015.

Iranian officials have put the death toll at 5,000 while some reports indicate the figure could be much higher. The Sunday Times, for example, obtained a new report from doctors on the ground, which states that at least 16,500 protesters have died and 330,000 have been injured.

The exact numbers are difficult to verify, as the regime has imposed an internet blackout across the country while imposing its crackdown.

On Monday, National Police Chief Ahmad-Reza Radan issued an ultimatum to protesters involved in what authorities called “riots,” warning they must surrender within three days or face the full force of the law, while urging young people “deceived” into the unrest to turn themselves in for lighter punishment.

Those “who became unwittingly involved in the riots are considered to be deceived individuals, not enemy soldiers, and will be treated with leniency,” Radan was quoted as saying by Iranian media.

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Former Biden Antisemitism Envoy Condemns Harris Campaign’s ‘Antisemitic Inquiry’ of Jewish Gov. Josh Shapiro

Pennsylvania Gov. Josh Shapiro delivers remarks at a bill signing event at Cheyney University, an HBCU in Cheyney, Pennsylvania, US, Aug. 2, 2024. Photo: Bastiaan Slabbers via Reuters Connect

The Biden administration’s deputy special envoy for combating antisemitism accused Kamala Harris’s 2024 presidential campaign of antisemitism following new revelations that the vetting process to determine her running mate for vice president involved grilling Pennsylvania Gov. Josh Shapiro, who is Jewish, on whether he was a “double agent” for Israel.

Jews should be “treated like any other American, regardless of religion, ethnicity, or race. That Gov. Josh Shapiro wrote that he was asked if he was a double agent of the world’s only Jewish state is an antisemitic inquiry,” Aaron Keyak, who also served as the “Jewish engagement director for the Biden-Harris presidential campaign in 2020, said in a statement.

Keyak suggested that Shapiro was “targeted by the staff of the presumptive Democratic presidential nominee” because of his religion, lamenting that the accusation represents a long line of incidents in which federal officials filling roles have “applied a double standard to American Jews during the vetting process.” He added that he had “personal experience” with being asked similar questions and that he has “heard from too many being asked similar questions over many years.”

The statement came after it was revealed that Shapiro was asked during the 2024 Democratic vice-presidential vetting process whether he had ever acted as a “double agent” of the Israeli government, a question he described as deeply offensive and emblematic of a broader problem in how pro-Israel views are sometimes treated in US politics.

In his forthcoming memoir, Where We Keep the Light, Shapiro reflects on being questioned by members of then-US Vice President Kamala Harris’s vetting team about his ties to Israel, including questions of whether he had ever communicated with Israeli intelligence or acted as a “double agent.” Shapiro writes that he immediately pushed back, telling the vetting aide that the question was “offensive” and echoed long-standing antisemitic tropes questioning Jewish Americans’ loyalty.

According to Shapiro, he was told the questions were standard procedure. But the governor, one of the Democratic Party’s most prominent Jewish elected officials, says the experience left him unsettled, particularly because of the historical baggage attached to such accusations.

Shapiro portrays the encounter as “unnecessarily contentious” and suggests in is memoir that no other candidate would be asked whether their faith or foreign policy views made them a secret agent of another country.

“Had I been a double agent for Israel? Was she kidding? I told her how offensive the question was,” Shapiro writes.

“Remus was just doing her job. I get it. But the fact that she asked, or was told to ask that question, by someone else, said a lot about some of the people around the VP,” the governor continues, referring to Dana Remus, a former White House counsel and member of the vetting team.

Shapiro claims that he felt bothered that the Harris team pressed him on his overarching worldview rather than the substance of his positions. 

“It nagged at me that their questions weren’t really about substance,” Shapiro writes. “Rather, they were questioning my ideology, my approach, my world view.”

Shapiro also alleges that the Harris team asked whether he would be willing to apologize and walk back condemnations of pro-Hamas protesters on Pennsylvania college campuses. In the wake of Hamas’s Oct. 7, 2023, invasion of southern Israel, activists organized demonstrations celebrating the massacre and venerating the Palestinian terrorist group. Shapiro vigorously denounced the protesters, comparing them to the Ku Klux Klan. His response drew strong criticism from progressive corners of the Democratic Party, which accused him of harboring “anti-Palestinian racism.”

The controversy comes amid heightened political tensions in the Democratic Party over Israel following the Oct. 7 atrocities and the ensuing war in Gaza, which has intensified scrutiny of pro-Israel politicians, especially within progressive Democratic circles.

“The more I read about [Shapiro’s] treatment in the vetting process, the more disturbed I become,” Deborah Lipstadt, the former antisemitism envoy in the Biden administration, said in a post on X/Twitter. “These questions were classic antisemitism.”

Former longtime leader of the Anti-Defamation League Abraham Foxman echoed these condemnations on social media, calling the episode “very disturbing.”

“Aides focused on Israel to the extent he found it offensive. Something very troubling about our current political culture,” he wrote. 

Shapiro ultimately was not selected as Harris’s running mate. Minnesota Gov. Tim Walz was chosen instead.

Harris, who served as vice president in the administration of former US President Joe Biden, lost the 2024 election to Donald Trump.

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‘Hands on Our Weapons’: Kataib Hezbollah in Iraq Threatens to Hit US Bases if Trump Strikes Iran

A vehicle carries the coffin of a commander from Iraq’s Kataib Hezbollah armed group who was killed in what they called a “Zionist attack” in the Syrian capital Damascus, during a funeral in Baghdad, Iraq, Sept. 22, 2024. Photo: REUTERS/Thaier Al-Sudani

Kataib Hezbollah, a US-designated terrorist group based in Iraq, has threatened to attack American military bases in the Middle East if President Donald Trump follows through on his threats to strike the Iranian regime in response to state violence against anti-government protesters.

“Kataib Hezbollah is part of the conflict between the United States of America and the Islamic Republic of Iran, and we will not stand on the sidelines. Our hands are on our weapons,” Abu Talib al-Saidi, a senior commander in the Iran-backed militia, told Shafaq News on Friday. He made the comments during a protest outside Iran’s embassy in Baghdad opposing Trump’s threats of military intervention against Tehran.

“During the 12-day war that America waged against Iran, there was a directive and mandate from [Iranian] Supreme Leader Ali Khamenei that we should not interfere in this war, but the situation now is completely different,” al-Saidi continued, referring to the Iran-Israel war last June, when the US struck Iranian nuclear sites following a devastating Israeli air campaign.

“The resistance’s missiles and drones are ready,” he added. “We have a high level of readiness and definitely in case the United States directs strikes on Iran, US bases in Iraq and neighboring countries will not be immune from our missiles and our planes.”

Kataib Hezbollah is part of Iraq’s Popular Mobilization Forces, a group of militias that are part of an official Iraqi security institution. According to the Washington Institute for Near East Policy, the Shiite terrorist group is “the premier militia in Iraq, operating under Iran’s direct command and fielding a wide range of cells responsible for kinetic, media, and social operations, some bankrolled by the Iraqi state.” The US government listed the organization as a Specially Designated Global Terrorist group on July 2, 2009, following a strike on troops in Iraq.

Al-Saidi’s warning followed repeated threats by Trump to target Iran in some manner in response to the regime’s deadly crackdown on protests, which began on Dec. 28 over economic hardships but quickly swelled into nationwide demonstrations calling for the downfall of the country’s Islamist, authoritarian system.

“We’re watching [the protests in Iran] very closely,” Trump told journalists aboard Air Force One on Jan. 4. “If they start killing people like they have in the past, I think they’re going to get hit very hard by the United States.”

The president’s top military advisers reportedly warned him that additional time would be needed to prepare for a potential attack on the regime.

On Jan. 11, Trump said that the US was willing to meet with Iranian officials and in touch with opposition leaders. Iranian Foreign Ministry spokesperson Esmaeil Baghaei said at the time that “the communication channel between our Foreign Minister Abbas Araqchi and the US special envoy [Steve Witkoff] is open and messages are exchanged whenever necessary.”

Two days later, Trump called on Iranian protesters to “take over your institutions” and suggested the US was prepared to take strong action against the regime.

“Iranian Patriots, KEEP PROTESTING – TAKE OVER YOUR INSTITUTIONS!!!” he posted on social media. “Save the names of the killers and abusers. They will pay a big price. I have canceled all meetings with Iranian Officials until the senseless killing of protesters STOPS. HELP IS ON ITS WAY. MIGA [Make Iran Great Again]!!!”

Last Wednesday, an anonymous US official told Reuters that the military had chosen to withdraw some personnel from military bases, a decision mirrored by the United Kingdom which pulled people from their posts in Qatar.

On Friday, Trump denied reports that pressure from Israel and Gulf Arab monarchies to reject a strike on Iran had influenced his decision not to strike yet. He told reporters on the White House lawn that “nobody convinced me. I convinced myself. You had yesterday scheduled over 800 hangings. They didn’t hang anyone. They canceled the hangings. That had a big impact.”

Khamenei and other Iranian officials have blamed Trump for the demonstrations.

The US-based group Human Rights Activists in Iran has confirmed 4,029 deaths during the protests, while the number of fatalities under review stands at 9,049. Additionally, at least 5,811 people have been injured the protests, and the total number of arrests stands at 26,015.

Iranian officials have put the death toll at 5,000 while some reports indicate the figure could be much higher. The Sunday Times, for example, obtained a new report from doctors on the ground, which states that at least 16,500 protesters have died and 330,000 have been injured,

Some Iraqi militia fighters, including members of Kataib Hezbollah, have reportedly aided the Iranian regime with the crackdown against protesters.

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