World
How Canada’s Economy Can Survive the Financial Recession
Canada is back is the Top 10 economies of the world, having the 10th biggest economy in 2018 and 2019, according to Cebr, Centre for Economics and Business Research based in London.
Canada, similarly to Australia, draws many highly qualified immigrants from all over the world. This is believed to have a great impact on the rapid economic growth of these countries.
It will contribute to the further economic growth of Canada, making it the world’s 8th biggest economy by the year 2029, leaving Brazil and Italy behind, predicts Cebr.
In the past economists predicted Canada’s economy to decline as the developing countries are catching up with the developed countries and Eastern Asian countries have booming economies.
10 years ago Canada truly dropped out of the world’s top 10. The speedy recovery of the Canadian economy is an example of the effect that the immigration of highly qualified professionals has on the countries.
The flexible approach of Canada’s government
The latest success in the economy is not happening by chance. Canada chose a very clear path as it has dedicated more time and investments to the latest technologies. The fourth industrial revolution is on the way and Justin Trudeau’s team has been very ruthless while making decisions.
The first big changes were about iGaming platforms. Trudeau is a big fan and preacher of technologies and wants to implement the latest advancements in the business. Online casinos and gambling platforms were good options for testing different financial technologies. Trudeau team started the usage of cryptocurrencies and gave the green light to one big industry – iGaming. Best Canadian online casino platforms added Bitcoin and other cryptos as an option and it was a big chance for the industry. Since 2017, Canadian casinos became popular in the digital gaming world as Bitcoin payments were very handful for many international players.
Along with cryptocurrencies, online casinos in Canada implemented other financial technologies and attracted the attention of millions of players around the world. The government was very flexible while helping the iGaming industry to reach the desire and return the dividends back from casino platforms through taxes. That flexible appraoch is very important when the government wants to get back in the top 10 economies.
Canada is finally back in the top 10 economies of the world
South Korea ranked number 11. The US-China trade has greatly hindered South Korea’s economy leaving it slightly behind Canada. Right now number 10 with a GDP of US$1.731 trillion (CAD$2.251 trillion), Canada is expected to have the world’s 9th largest economy by 2024 and the 8th largest by 2029. The factors that are hindering the growth of Canada’s economy are federal debt, a high number of unemployment and the Canadian minority government encountering resistance in further development plans.
Main trends of Canada’s economy to follow in 2020
Experts shared their ideas on what will the factors affecting Canada’s economy will be in 2020. Here are some of the factors: Canada’s investments in nonresidential structures, machinery, and equipment have declined by 20% in the last 5 years; wage inflation is happening in Canadian factories; foreign direct investment in Canada is rapidly growing, reaching 65.8 billion USD over the last year; business investments in Canada are lower than they were before the 2008 economic crisis; corporate debt has been rising and will be one of the factors testing Canada’s economy in the future; more goods are manufactured in Canada then sold and it puts further production and employments under risk; the possibilities and the development of the Indigenous economy and how the government is investing in the growth of the Indigenous economy; the Canadian investment environment needs to be improved; the manufacturing industries of Canada are on the decline; Canada’s economy depends too much on the non-renewable energy sector; Greenhouse Gas emission commitment made under the Paris agreement is extremely hard to reach taking into consideration the current demand on fossil fuel; oil supplies exceeding the capacity of the pipelines; the increasing share of the electric vehicles; investments in the renewable energy. are on the rise; these and other trends such as the sale of the truck and SUVs, and electricity prices in Ontario will be something to pay attention to.
World
Africa Takes Centre Stage as Addis Ababa Hosts the World Public Summit
By Kestér Kenn Klomegâh
For the first time in its history, the World Public Summit will be held on the African continent. On 29–30 July 2026, Addis Ababa, the capital of Ethiopia, will host the World Public Summit. Africa — “A New World: Africa in Shaping a Shared Future.”
The Summit is organised by the World Peoples Assembly in cooperation with African partner organisations. It will bring together leaders of public diplomacy, representatives of international intergovernmental and non-governmental organisations, academics, experts, representatives of the education and cultural sectors, youth leaders, socially responsible businesses, media professionals, and civil society institutions from across Africa and other regions of the world.
The World Public Summit. Africa continues the work initiated during the First World Public Assembly “A New World of Conscious Unity,” held in Moscow in September 2025, and serves as one of the key milestones in preparation for the Second World Public Assembly “A New World: Values That Unite,” which will take place in Moscow on 18–19 September 2026.
Today, Africa is emerging as one of the principal centres of global development. Rapid demographic growth, expanding entrepreneurship, strengthening regional integration, rich cultural heritage, and the growing role of civil society institutions make the continent an increasingly important contributor to the future architecture of international cooperation.
The Summit will focus on issues of genuine sovereignty and sustainable development, public diplomacy, preservation of cultural and historical heritage, international cooperation in education and science, youth engagement, innovation-driven development, creative industries, and the formation of new partnerships among countries and peoples.
The main business programme of the Summit will take place on 30 July 2026 at the headquarters of the United Nations Economic Commission for Africa (UNECA) in Addis Ababa. Holding the Summit at UNECA highlights its pan-African dimension and creates opportunities for broad international dialogue on humanitarian cooperation and public diplomacy.
The programme will include plenary sessions, strategic dialogues, and expert panels dedicated to values-based development, education, culture, youth leadership, innovation, and international cooperation.
Participation has already been confirmed by Professor Saidou Madougou, Director of the Department of Education, Science, Technology and Innovation of the African Union; Rita Bissoonauth, Director of the UNESCO Liaison Office to the African Union and UNECA in Addis Ababa; Zuzana Schwidrowski, Director of the Macroeconomics, Finance and Governance Division of UNECA, as well as ministers, leaders of public organisations, and representatives of the business community from a number of African countries.
On the same day, the ADWA Victory Memorial Museum—Ethiopia’s national memorial complex dedicated to the Victory of Adwa and an important centre for preserving the historical memory of the Ethiopian people—will host the award ceremony of the regional stage of the V International Competition “Leader of Public Diplomacy”, followed by a large-scale cultural programme.
One of the key outcomes of the Summit will be the adoption of the African Communiqué, reflecting proposals and recommendations aimed at strengthening humanitarian, educational, cultural, and public cooperation between African countries and other regions of the world.
The outcomes, initiatives, and recommendations were developed during the World Public Summit. Africa will be presented at the Second World Public Assembly “A New World: Values That Unite”, to be held in Moscow on 18–19 September 2026.
According to Andrey Belyaninov, General Secretary of the World Peoples Assembly, “the Addis Ababa Summit is an important step toward building a new world founded on mutual respect, cultural diversity, dialogue and sustainable development.”
World
UK Set for Seventh Prime Minister in 10 Years as Keir Starmer Resigns
By Adedapo Adesanya
The United Kingdom will get its seventh Prime Minister in 10 years as Mr Keir Starmer announced his resignation on Monday.
The Minister said he is stepping down as leader of the governing Labour Party and will leave office within weeks, scarcely two years after being elected in a landslide.
Mr Starmer says he will remain caretaker prime minister until a new Labour leader is chosen by the party.
Mr Starmer made the announcement after facing growing pressure to hand over to a new leader who can try to revive the government’s flagging fortunes.
He led Labour to a landslide election victory in July 2024, but since then, his popularity and that of the party have plummeted.
His departure was triggered by the victory of Mr Andy Burnham in a special election last week. The popular ex-mayor of Greater Manchester planned to challenge the existing PM for the Labour leadership.
Mr Starmer made the announcement outside the prime minister’s 10 Downing St. residence with a brief statement on Monday.
“The question my party is asking now is whether I am best placed to lead us into the next general election,” Mr Starmer said. “I have heard the answer of my parliamentary party to that question, and I accept that answer with good grace.
Mr Starmer is the sixth prime minister in a decade to stand outside 10 Downing Street and announce a premature departure.
It comes the day before Britain marks the 10th anniversary of its vote to leave the European Union, a decision that still affects the country’s economy and politics.
Over the past decade, 10 Downing Street has had six occupants, including Mr David Cameron, who left office in 2016 after the Brexit referendum and was succeeded by Ms Theresa May. She was followed by Mr Boris Johnson, whose tenure covered Brexit and the COVID-19 pandemic. After Mr Johnson came Ms Liz Truss, whose 49-day premiership was the shortest in British history. Mr Rishi Sunak then took office before being succeeded by Mr Starmer, the outgoing occupant of Number 10.
World
AXIAN Energy Secures $60m for Expansion Across Africa
By Aduragbemi Omiyale
A financing facility of up to $60 million has been secured by AXIAN Energy, the energy division of the AXIAN Group.
The funding package was provided by MCB, one of the leading financial institutions in the Indian Ocean region.
It comprises a $40 million revolving credit facility with a three-year tenor and extension option, and $20 million in unfunded instruments, providing AXIAN Energy with enhanced financial flexibility, enabling the company to rapidly mobilise resources and seize development opportunities across its target markets.
The energy firm is expected to use the capital to deliver large-scale energy infrastructure projects across Africa.
Over the past two years, AXIAN Energy has significantly accelerated its growth by expanding its renewable energy project pipeline, with solar projects currently under development in Senegal, Benin, Zambia, Côte d’Ivoire, Madagascar, and Burkina Faso.
Building on this momentum, AXIAN Energy now operates a portfolio comprising 350 MW of installed renewable energy capacity, supported by 77 MWh of energy storage capacity, positioning the AXIAN Group as a major contributor to Africa’s energy transition.
The chief executive of AXIAN Energy, Mr Benjamin Memmi, said, “This transaction marks a key milestone in AXIAN Energy’s growth trajectory. It provides us with the financial capacity to sustain the momentum we have built over the past two years, further strengthening our renewable energy portfolio and expanding our presence across new African markets.”
Also commenting, the Global Head of Structured Finance at MCB, Mr Mathieu Delteil, said, “We are proud to support AXIAN Energy in structuring this facility, reaffirming our commitment to enabling transformative projects across Africa.
“By leveraging our sector expertise and deep understanding of regional markets, we have delivered a tailored financing solution that aligns with AXIAN’s long-term renewable energy ambitions.
“This partnership highlights our role as a strategic financial partner, mobilising capital towards investments that drive sustainable growth and accelerate the energy transition across the continent.”
The financing agreement between the two organisations strengthens their long-standing relationship because it is driven by a shared commitment to supporting infrastructure development and economic growth across Africa.
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