Author: ovieoftoronto

The global economy has lost momentum due to rising interest rates, the invasion of Ukraine and widening geopolitical rifts, and faces new uncertainty from the war between Israel and Hamas fighters, the International Monetary Fund said on Tuesday. I warned you.The IMF forecast that global economic growth will slow to 2.9% in 2024 from 3% expected this year. The outlook for next year has been lowered by one notch from the 3% forecast in July.The slowdown comes as the world has yet to fully recover from the devastating but short-lived COVID-19 recession of 2020 and is likely to see the…

Open this photo in gallery:A man sweeps the floor near an electronic board displaying market data at the Tel Aviv Stock Exchange in Tel Aviv, Israel, November 4, 2020.Amir Cohen/ReutersJohn Rapley is a political economist at the University of Cambridge and managing director of Seaford Macro.Half a century ago, war in the Middle East transformed the world economy. Currently, we see very little change in Western markets, which shows how much the world has changed in this time.Fifty years ago, almost exactly on that day, Egyptian and Syrian tanks crossed the ceasefire line and launched a devastating attack on their…

We got a taste of what that means earlier this year with the failure of several regional banks in the United States. The Federal Reserve bailed out banks and the market briefly calmed down.U.S. bond yields have recently surged more than a percentage point as government borrowing increases and the Federal Reserve reverses previous quantitative easing to increase bond supply. This reflects the market's recognition that short-term interest rates need to remain high for an extended period of time to reduce inflation.As a result of contradictions in the US budget and monetary policy, the US economy has not slowed down…

“Horrifying acts of violence by Hamas in Israel on Saturday and days of Israeli bombing of Gaza have left more than 1,000 people dead and many more injured,” the WHO said in a statement on Tuesday.United Nations agencies have offered assistance to health authorities in both Israel and the occupied Palestinian territories. On Monday, WHO Director-General Tedros Adhanom Ghebreyesus met with Egyptian President Abdel Fattah el-Sissi and agreed to the organization's request to facilitate the delivery of medical supplies and other humanitarian aid to Gaza via the Rafah border. Agreed.The WHO reported that hospitals in the Gaza Strip are running…

If you’ve been out and about on the GO Transit train network over the past year, there’s a chance you may seen staff members sporting bright, neon green vests. In a bid to address customer service, safety and on-time performance issues, Metrolinx launched a program to bring station ambassadors onto platforms at certain stations during peak periods before trains arrive. Workers also have devices that allows them to work outdoors, such as access to the public address system.null In years past, these GO Transit staff members typically stayed behind booths inside stations to process ticket sales. Station ambassador Dina Abdou works on…

NEW YORK – Oil prices are climbing, and stocks are slipping as violence in the Middle East injects more unease into financial markets worldwide. The S&P 500 was 0.4% lower ealy Monday in its first trading since Hamas launched a surprise attack over the weekend against Israel, which then formally declared war. The Dow fell 4 points and the Nasdaq composite was off 1%. The area under conflict is not home to major oil production, but fears that the fighting could spill into the politics around the crude market sent a barrel of U.S. oil up 3.6%. Stocks of oil…

Speaking in New York, UN spokesman Stephane Dujarric said more than 120,000 people had been internally displaced in Gaza due to concerns about protection and the destruction of their homes.The United Nations Relief and Works Agency for Palestine Refugees (UNRWA) shelters approximately 137,000 people in 83 schools across the Gaza Strip.Six medical workers were killed and four injured, and seven medical facilities and nine ambulances were damaged.Israel has also observed large-scale displacement due to protection concerns and damage to civilian property. © Magen David Adom Israel People of Israel line up to donate blood. In Gaza, humanitarian workers report damage…

It’s turkey time in Toronto! Here’s what’s open and closed around the city for the last three-day holiday weekend before Christmas. TOURIST ATTRACTIONS AND ACTIVITIES BEER STORE/LCBO/WINE RACK All Beer Store and LCBO locations will be closed on Monday. null Wine Rack will be open on limited hours. Call your local location for specific hours. GROCERY AND PHARMACY Most grocery stores will be closed for the holiday Monday, but some select locations will be open for limited hours. SHOPPING CENTRES The following malls will operate on limited hours: Dufferin Mall, Fairview Mall, Scarborough Town Centre, Sherway Gardens, Shops at Don…

Israeli Prime Minister Benjamin Netanyahu on Saturday declared war against Palestinian militants after they led a deadly, multi-front attack in his country that left at least 250 people dead. Netanyahu said in a televised address he was mobilizing his forces for an extensive assault in Gaza after an attack from the Palestinian militant group Hamas “launched a murderous surprise attack against the state of Israel and its citizens.” “We are at war — not in an operation or at rounds, but in a war,” the Israeli leader said. “The enemy will pay an unprecedented price. … We are at war…

A Canadian Airbnb watchdog has sounded alarm bells over the number of condo buildings in Toronto acting as “ghost hotels.” In a Saturday press release, representatives for Fairbnb, a not-for-profit coalition of hotel owners, academics and concerned citizens that advocates for equitable short-term rental regulations across the country, said there was “an alarming pattern” that has allowed residentially zoned and taxed buildings to operate as so-called “ghost hotels.” Ghost hotels are usually condo units rented by tenants who then list the units on short-term rental apps like Airbnb, thus turning a substantial profit. The City of Toronto implemented policies to…