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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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Syria Will Stay Out of Iran conflict Unless It Faces Aggression, President Says
Syrian President Ahmed al-Sharaa attends the Ministry of Awqaf conference titled “Unity of Islamic Discourse” at the Conference Palace in Damascus, Syria, Feb. 16, 2026. Photo: REUTERS/Khalil Ashawi
Syrian President Ahmed al-Sharaa said on Tuesday that his country will stay out of the US-Israeli war against Iran unless Syria is subject to aggression and has no diplomatic solutions.
“Unless Syria is targeted by any party, Syria will remain outside any conflict,” the Syrian president said at an event hosted by think tank Chatham House in London.
“We do not want Syria to be an arena of war. But unfortunately, today, things are not governed by wise minds. The situation is volatile and random,” the president said.
The month-long conflict has spread across the region, killing thousands, disrupting energy supplies, and threatening to send the global economy into a tailspin.
“We want Syria to have ideal relationships with the entire region, with Lebanon, Iraq, Turkey, Saudi Arabia, and world powers like the UK, France, Germany, and the US. I think that Syria is qualified to start a strategic relationship network,” he said, responding to a question on whether Syria would stay neutral while the conflict goes on.
Syria has been keen to stay on the sidelines of the regional conflict that has pulled in neighboring countries, including Lebanon, where armed group Hezbollah is locked in fighting with Israeli ground troops, and Iraq, where Iran-aligned factions have launched drone and rocket attacks.
Syria sent thousands of troops to its western border with Lebanon and its eastern border with Iraq earlier this month. Syria‘s defense ministry said the deployment was part of efforts to “protect and control the borders amid the escalating regional conflict.”
“We had enough war. We paid a large bill. We are not ready for another war experience,” Syria‘s president said.
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Europe Shows Unwillingness to Help With Iran War, Pushes Back on Some US-Israeli Military Operations
US President Donald Trump and French President Emmanuel Macron react on the day of a press conference, at the White House in Washington, DC, US, Feb. 24, 2025. Photo: REUTERS/Evelyn Hockstein
France and Italy have pushed back against some US-Israeli military operations, sources said on Tuesday, as US President Donald Trump criticized NATO allies in Europe as unhelpful in the month-long war in Iran, highlighting divisions.
The decisions came against a backdrop of tensions between Washington and key partners over the war. Earlier this month, Trump called longtime NATO allies “cowards” over their lack of support. On Tuesday, he slammed countries that did not help in the US-Israeli strikes.
FRANCE SAYS NO
Trump accused France of blocking aircraft carrying military supplies to Israel from flying over its territory, writing on Truth Social that France had been “VERY UNHELPFUL.”
The French presidency said it was surprised by the post and said its decision was consistent with France’s policy since the conflict began.
A Western diplomat and two sources familiar with the matter told Reuters earlier that the refusal, which happened at the weekend, was the first time France had done this since the start of the conflict on Feb. 28.
The sources said Israel had wanted to use France’s airspace to transport US weapons to be used in the war against Iran.
Israel’s defense ministry accused France of actively obstructing the transfer of munitions to Israel, according to a statement.
It said the French ban was imposed despite prior coordination and assurances that the munitions were intended solely for use against Iran, adding that the effort was critical to European security.
The ministry said Israel would cut all defense procurement from France and would have no new engagement with the French military. French arms sales to Israel are relatively small, and it was unclear whether the move would affect French troops serving with UN peacekeepers in Lebanon.
ITALY DENIES PERMISSION
Italy last week denied permission for US military aircraft to land at the Sigonella air base in Sicily before heading to the Middle East, sources said.
According to the Corriere della Sera daily, which first reported the news, “some US bombers” had been due to land at the base in eastern Sicily before flying on to the Middle East.
Italy’s Defense Minister Guido Crosetto later denied any rift with Washington or any change in policy. He posted a message on X to say that US airbases remained active, but that Washington needed special permission for uses outside existing agreements.
SPAIN IS MOST VOCAL AGAINST WAR
Meanwhile, Spain defended its decision to fully close its airspace to US planes involved in attacks on Iran.
Prime Minister Pedro Sanchez has been among the most vocal critics of the US and Israeli strikes and Defense Minister Margarita Robles said Spain will only allow for the use of its bases for the collective defense of NATO allies.
Trump also singled out Britain as being unhelpful, just as Buckingham Palace confirmed King Charles and Queen Camilla will pay a state visit to the US in late April.
He wrote on Truth Social: “All of those countries that can’t get jet fuel because of the Strait of Hormuz, like the United Kingdom, which refused to get involved in the decapitation of Iran, I have a suggestion for you: Number 1, buy from the US, we have plenty, and Number 2, build up some delayed courage, go to the Strait, and just TAKE IT.”
The United States, France, Italy, Spain, and Britain are all NATO members, as is Germany, which hosts Ramstein, the largest US base in Europe.
Germany said early in the war there were no restrictions on the US using the base, though the issue has been debated after President Frank-Walter Steinmeier said he believed the war was illegal.
US Defense Secretary Pete Hegseth declined on Tuesday to reaffirm Washington’s commitment to NATO’s collective defense, saying that would be up to President Donald Trump after key European allies refused to stand with the United States in the war against Iran.
Asked by Reuters at a news briefing if the US is still committed to NATO’s collective defense, Hegseth said: “As far as NATO is concerned, that’s a decision that will be left to the president. But I’ll just say a lot has been laid bare.”
In apparent reference to tensions with NATO allies France, Italy, Spain and Britain, Hegseth said “when we ask for additional assistance or simple access, basing and overflight, we get questions or roadblocks or hesitations.”
“You don’t have much of an alliance if you have countries that are not willing to stand with you when you need them. [Trump is] simply pointing that out, and ultimately, it’ll be his decision of what that looks like,” Hegseth said.
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Toronto Police Allow Anti-Israel Protests Outside Synagogue, Other Jewish Sites
Illustrative: Hundreds of anti-Israel protesters, primarily university students, rally at Toronto’s Nathan Phillips Square on Oct. 28, 2023. Photo by Sayed Najafizada/NurPhoto
Protesters in Toronto this past weekend demonized the Jewish state through provocations such as chanting accusations of terrorism outside of a synagogue and destroying an effigy of Israeli Prime Minister Benjamin Netanyahu with a noose around his neck.
Israel’s consul general in Toronto, Idit Shamir, blasted Toronto police, charging they had failed to follow a recent pledge to prevent demonstrations outside of Jewish institutions.
“One week ago, Toronto Police banned pro-Palestinian protests at Bathurst and Sheppard, the heart of Toronto’s suburban Jewish community, after two years of documented harassment and antisemitic displays targeting the people who live, pray, and send their children to school there,” Shamir wrote on X. “Today, one week later, police escorted a pro-Palestinian protest through that same intersection.”
Shamir described how the anti-Israel advocates marched “past Darchei Noam Synagogue. Past the Toronto Heschel School. Past the L’Chaim Seniors Residence. Masked demonstrators chanted that Zionists are racists and terrorists.” He added that “small groups broke off onto side streets to reach Jewish residents more directly. No arrests. The ban held exactly as long as the gap between demonstrations.”
In making his statement, Shamir shared a video posting from lawyer Caryma Sa’d, a journalist and self-described satirist running a “Protest Mania” website whose footage vividly documented the events. The video features a man saying to Toronto police, “You gotta start enforcing the law. I don’t know who gives you your mandate, but start enforcing the law.”
Concluding his statement, Shamir wrote: “In Hebrew, there is a word for this: hefker. הפקר Ownerless. Abandoned. Beyond protection. Every generation of Jews has known a city where that word became real. I did not expect Toronto to be mine.”
In analyzing the event, the Combat Antisemitism Movement said that “Toronto Police have not explained why the march proceeded along this route. The gap between policy and enforcement remains clear — and so do the questions about whether Jewish residents are being protected in practice.”
In further videos shared by Sa’d, demonstrators and pro-Israel counter-protestors exchanged profane insults on Sunday with accusations of “Rape supporters!” and vulgarities like “Dirty c—t! F—k you, f—king losers!” A video of activists on Saturday shows one man who calls a yellow-jacketed police officer a “dumb f—k.”
The Canadian Antisemitism Education Foundation (CAEF) stated that “Toronto Police would not tolerate a white supremacist parade up and down Jane St. between Finch and Steeles. So why are Toronto’s Jews required to tolerate a hate parade in the part of the city where we make our homes and community?”
Toronto’s law enforcement defended the decision to sanction the protestors’ route. “Officers ensured the group did not enter residential streets, and no arrests were made,” a police spokesperson said.
The spokesperson explained that the ban “does not apply to lawful demonstrations at the main intersection and along major roadways. Demonstrations have taken place at this intersection for several years. They can be tiring, disruptive, and distressing – but that does not make them illegal. Demonstrations are protected under Canadian law, and enforcement action is taken when there are reasonable grounds to believe a criminal offence has occurred.”
Another report of a Toronto protest over the weekend said that demonstrators burned Israeli and American flags. One individual took an effigy of a noosed Netanyahu and spit on its head before stomping the symbol of Israel’s leader.
According to Israel National News, demonstrators proclaimed, “We will sacrifice our souls and our blood for Al-Aqsa and Palestine.” Other chants asserted that “resistance is justified when a people lives under occupation” and declared that “the only solution is intifada.”
According to A Dictionary of Modern Written Arabic, the word “intifada” translates as “to be shaken off, be dusted off; to shake; to shudder, shiver, tremble; to shake off from oneself; to wake up, come to consciousness.”
Since the 1980s, the term came to refer to two distinct efforts by Palestinian terrorists to murder Israelis and destroy the Jewish state, with the first period starting in 1987 and the second in 2000. Anti-Israel activists today now regularly demand that supporters of the Palestinians seek to “globalize the intifada,” meaning engage in violence and terrorist acts everywhere. In an interview with cable host Al Sharpton on Sept. 7, then-New York City mayoral candidate Zohran Mamdani said he would “discourage” use of the phrase. He had previously refused.
Mirroring trends around the planet, Canada has seen a surge in recent years of antisemitic hate crimes, pro-terror advocacy, and vulgar street demonstrations with Toronto as the epicenter.
On March 10, Toronto Police Deputy Chief Frank Barredo said that according to witnesses, two men drove up to the US consulate in a white SUV and fired a handgun at the building before fleeing in the vehicle.
Royal Canadian Mounted Police Chief Superintendent Chris Leather announced an increased security presence at the US and Israeli consulates in response, saying at a press conference that “these consulates deserve a heightened amount of vigilance and security at this time in the hopes that we can bring the temperature down in the coming days and weeks.” Vandals in Toronto have previously shot bullets at a Jewish-owned restaurant and at a local synagogue.
B’nai Brith has documented the rise of antisemitism in Canada, with the organization’s 2024 audit finding a 7.4 percent increase from 2023, reaching 6,219 for the highest total ever recorded since tracking began in 1982.
On Sept. 21, 2025, Canada joined with its Anglosphere allies the United Kingdom and Australia in choosing to recognize a Palestinian state.
Canadian Prime Minister Mark Carney asserted at the time that “this in no way legitimizes terrorism, nor is it any reward for it.”
