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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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Toronto man arrested after allegedly shooting at Orthodox Jews outside a synagogue

(JTA) — Police in Toronto have arrested a man they say shot at “visibly identifiable members of the Jewish community” on two occasions a week apart.

Ruslan Novruzov, 18, is charged with assault with a weapon and possession of a weapon for a dangerous purpose in conjunction with the shootings, which took place on April 30 and Thursday, one week later.

In both incidents, people experienced minor injuries, according to the Toronto police. The shooting on Thursday targeted three people standing outside of Congregation Chasidei Bobov, an Orthodox synagogue.

Following the shootings, the Toronto police tracked a blue Lexus to a residence in a suburb about 15 miles north of the shootings, where they said they searched both a home and a car and seized evidence including two “gel-blaster imitation firearms.”

The shootings and arrest add to a string of recent incidents targeting Jews and Jewish institutions in the Toronto area. A different 18-year-old man was charged last week in connection with two synagogue shootings that took place on March 6, but other incidents remain unsolved. No major injuries or damage has been reported, but the incidents have swelled anxiety within the city’s Jewish communities.

“We recognize that Jewish residents have been living with a heightened sense of fear due to repeated incidents targeting their community, and this only adds to that, which is unacceptable,” Acting Deputy Chief Joe Matthews said in a statement following Novruzov’s arrest. “While the weapons used were imitation firearms, the impacts are very real. These are criminal acts that we allege were meant to intimidate and cause fear.”

The Centre for Israel and Jewish Affairs, Canada’s main Jewish advocacy group, expressed gratitude to the police for acting quickly.

“These incidents must continue to be treated with the seriousness they deserve, and those responsible must be held fully accountable,” it said on X.
”It’s long past time for governments and authorities to confront the serious threats driving violent attacks before we face a tragic loss of life.”

This article originally appeared on JTA.org.

The post Toronto man arrested after allegedly shooting at Orthodox Jews outside a synagogue appeared first on The Forward.

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Netanyahu on ‘60 Minutes’: Fight with Hezbollah should be seen as separate from Iran war

(JTA) — In an appearance on U.S. television on Sunday night, Israeli Prime Minister Benjamin Netanyahu argued that Israel should continue fighting against Hezbollah in Lebanon even if the war in Iran concludes.

Netanyahu spoke with Major Garrett on CBS’ “60 Minutes” as President Donald Trump continues to negotiate to end the Iran war that he and Netanyahu jointly began in February. When Trump declared a ceasefire with Iran on April 7, Netanyahu initially insisted that the deal did not require Israel to stop fighting Hezbollah, an Iranian proxy based in Lebanon. The Iranians insisted that it did, and Trump soon weighed in on social media to say that Israel was “prohibited” from attacking inside Lebanon.

In the weeks since, Israel and Hezbollah have continued to fight, but at a decreased intensity. Now, with Trump seemingly not eager to resume fighting with Iran even as the Iranians have not acceded to his demands at the negotiating table, Netanyahu said the conflicts should be decoupled.

“Is it possible, Mr. Prime Minister, that the war with Iran could end but the war with Hezbollah could continue? That these would be separate and divergent fields,” Garrett asked.

“They should be,” Netanyahu answered. “What Iran would like to do is to say, ‘No, you know, if we achieve a ceasefire here, we want a ceasefire there.’”

“Will you accept that?” Garrett asked. After Netanyahu said he would not, Garrett went on: “Even if President Trump asks you to?”

Netanyahu replied, “Look, he understands what I’m saying.”

Trump’s critics on both sides of the aisle have alleged that Netanyahu pushed him into entering the war. But Netanyahu said that belief is wrong. He called reporting by The New York Times about what he told Trump during a Feb. 11 White House meeting “incorrect,” saying that he had never told Trump that regime change in Iran was an assured outcome of a shared attack.

Netanyahu also insisted to Garrett that declining public support for Israel in the United States was a product of online campaigns designed to spread misinformation.

“Do you believe that’s the only explanation, or is it possible that some Americans have come to a different sense of Israel because of the last two or three years?” Garrett pressed.

“What they see is so many falsifications and vilifications that are unfounded, but they don’t know because they just get you know, the last reel in the movie. They don’t see the entire movie,” Netanyahu said.

The Israeli government recently allocated $730 million for public diplomacy, including online campaigns, designed to boost public opinion about Israel. The allocation quadrupled what was set aside last year for that purpose.

This article originally appeared on JTA.org.

The post Netanyahu on ‘60 Minutes’: Fight with Hezbollah should be seen as separate from Iran war appeared first on The Forward.

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Labour politician is booed as thousands rally against antisemitism in London

(JTA) — Thousands of British Jews, as well as politicians from multiple parties, rallied in London outside the prime minister’s residence on Sunday to call for more aggressive action against antisemitism following a string of violent attacks.

Kemi Badenoch, the Conservative party leader whose response to a heckler making light of threats against Jews went viral last week, spoke forcefully in defense of U.K. Jewry, to applause.

“I stand for a Britain where Jews can go to school freely without worrying about security,” she said. “I stand for a Britain where you can worship freely and not worry about who is coming to attack you. I stand for the celebration of Jewish culture and Jewish people. And I stand for a Britain that will always fight for you, that will always support you.”

The Labour Party representative dispatched by Prime Minister Keir Starmer, meanwhile, drew boos from an audience frustrated by what many British Jews view as an inadequate response from the government.

“I hear your anger, I hear your pain,” said Pat McFadden, the secretary of state for work and pensions. “I stand against antisemitism, I stand with you.” As he spoke, rally organizers at times interrupted to exhort the crowd to quiet down.

Gideon Falter, head of the nonprofit Campaign Against Antisemitism, called in his speech for a ban on pro-Palestinian demonstrations, which he called “hate marches,” as well as a ban on groups associated with antisemitic violence. He said U.K. Jews were facing a “Britifada,” a play on the word intifada.

He referred to a number of the most prominent recent incidents, including a stabbing in the Orthodox neighborhood of Golders Green earlier this month and an attack on a Manchester synagogue on Yom Kippur in which two congregants were killed.

“Jews stabbed. That’s the Britifada! Murder on Yom Kippur. That’s the Britifada! Synagogues ablaze. That’s the Britifada! Hatzola ambulances pelted with rocks and torched. That’s the Britifada! Jewish children nearly mown down in a car ramming. That’s the Britifada!” Falter said. “The attacks are coming thick and fast. Because Britain has become radicalized.”

The Jewish Leadership Council and the Board of Deputies of British Jews organized the rally, titled “Standing Strong: Extinguish Antisemitism,” and were joined by dozens of Jewish groups. It took place outside 10 Downing Street in central London and featured video appearances from Jews around the world as well as from Boy George, the pop singer who has emerged as an advocate against antisemitism.

The rally also drew attention because of who was and was not invited.

Ahead of the rally, thousands of people signed a petition calling for Nigel Farage, who heads the right-wing Reform party, which made significant gains in local elections on Thursday, to be disinvited, given his “division, scapegoating, racism and inflammatory rhetoric” and allegations of antisemitism during his school years. (Farage dismissed the allegations when they emerged in 2024, saying that he could not remember all instances of “playground banter” from his childhood but that he had never sought to be intentionally hurtful.)

Farage did not appear at the rally, but his deputy, Richard Tice, did. He called for penalties against universities that are seen as encouraging antisemitism.

Zack Polanski, the Jewish leader of the left-wing Green party, which made gains in the local elections despite an antisemitism scandal involving dozens of candidates, was not invited to speak.

Saul Taylor of United Synagogue, the British Orthodox umbrella group, called out Polanski during his speech, alluding to both Polanski’s criticism of the Metropolitan Police’s handling of the arrest of the alleged Golders Green attacker and his party’s pro-Palestinian platform. “The constant vilification of Israel has fueled the flames of antisemitism across our nation,” Taylor said.

Taylor said the previous week had “probably been the most movement from the government we have seen in a long time” but that the pressure should remain. Last week, after an emergency meeting at 10 Downing Street, the Metropolitan Police announced a 100-member special force to protect Jewish communities. On Sunday, the police said they had charged a man with racially or religiously motivated assault and harassment after he attacked three Jews in Enfield.

At least one liberal Jewish group opted not to participate in the rally after initially signing on. The New Israel Fund UK announced ahead of the rally that it was backing out after political figures were invited to participate.

Other liberal Jews did take the stage. Rabbis Charley Baginsky and Josh Levy of Progressive Judaism, the U.K. equivalent of the Reform movement, who were booed off the stage at an August 2025 rally for the release of the Israeli hostages after calling for an end to the war in Gaza, exhorted attendees to ensure that England is not “shaped by suspicion, anger and permanent division.”

This article originally appeared on JTA.org.

The post Labour politician is booed as thousands rally against antisemitism in London appeared first on The Forward.

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