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Canada freezes out foreign house ownership for two years

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Foreigners wishing to buy homes in Canada will have to wait for a while as the North American country has imposed a two-year ban on foreign property purchases in a bid to curb a market that has left home grown buyers in despair due to unfavourable competition.

The ban which also comes with other measures aimed at protecting homegrown business people, was announced on Monday by Prime Minister Justin Trudeau’s office, highlighted the huge price increases across Canada’s real estate market where prices have soared by more than 50 per cent in the past two years.

In announcing the ban on foreign home buying and higher taxes for people who sell their homes within a year, the government said both measures, however, hold exceptions, including for permanent residents and foreign students.

According to a recent report in Bloomberg, “home prices in Canada have surged more than 50 per cent over the past two years and the housing market had a record monthly increase in February as buyers acted before rate increases by the Bank of Canada, taking the benchmark price of a home to the equivalent of US$693,000.”

What the ban means for would-be homeowners in Canada, especially migrants from Africa, is they would not be able to purchase houses in the next two years.

And even when the ban expires, owning a home will be more stringent as the country plans to do away with the practice of “blind bidding” where offers are kept secret when someone is selling a home, only for higher bids to spring up to knock out the smaller bids.

The secret bidding is being blamed for accelerating price gains with properties often selling for hundreds of thousands of dollars over the asking price, leading to a bidding war often won by foreign investors.

Musings From Abroad

Russia’s Wagner claims to have recovered bodies of its mercenaries from July deadly attack

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The Wagner mercenary outfit from Russia announced that its forces had found the bodies of its mercenaries who were slain in a confrontation with Islamists and Tuareg rebels in July in the Mali desert sandstorm.

An Islamist insurgency that has been raging for years in Mali, where military authorities took control in coups in 2020 and 2021, originated from a Tuareg separatist revolt in the country’s north of the Sahel.

In July, Wagner stated that it suffered significant losses in the conflict, which it fought with the Malian military, but did not provide many specifics.

“An operation was completed to return the bodies of our brothers, who in July 2024 heroically took up the fight with Islamists many times outnumbered,” Wagner said in a rare statement on Telegram late on Tuesday.

The July battle’s defeat highlighted the risks faced by Russian mercenary forces used by military juntas, which are fighting to rein in rebels and potent branches of Al Qaeda and the Islamic State in the parched Sahel of Mali, Burkina Faso, and Niger.

The army of Mali announced in a statement that it had also located and removed the soldiers’ bodies from the scene of the July attack.

Wagner stated that the rebel group had recovered the combatants’ bodies, but a spokesman for the group refuted this.

“It’s not true, there are no Wagner bodies there,” Mohamed Elmaouloud Ramadane, a spokesman for a Tuareg organisation known as the Permanent Strategic Framework for Peace, Security and Development, told journalists.

He said on social media on Sunday that shortly after the battle, the rebels removed the Wagner bodies from the area.

The assertions follow a pattern of contradictory statements: last week, the rebels maintained that both of their fighters who were seized in Mali were still alive, but Wagner said that two of them had passed away.

According to Wagner, its fighters had traversed a desolate region “teeming with Azawad militants” close to Tinzaouaten in north Mali.

“The bodies of our fallen brothers will return to the homeland,” Wagner said. “We do not leave our own, and all of them – dead or alive – will be returned home.”

 

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Musings From Abroad

US CDC issues second-highest Marburg travel advisory for Rwanda

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As a result of the Marburg disease epidemic in Rwanda, the United States government has announced that its agency will be issuing its second-highest level of travel advisory, advising citizens to avoid unnecessary travel. Rwanda is located in East Africa.

According to the US Department of Health and Human Services, the CDC will begin screening visitors who have visited Rwanda within the last 21 days before they enter the country.

The organisation advised travellers to Rwanda to take extra care when they visited the nation last week when it released its “level 2” travel advisory.

Since the first epidemic of the Ebola-like illness in Rwanda was discovered in late September, 46 cases and 12 fatalities have been documented. The death rate in Marburg might reach 88%.

Fruit bats carry the virus, which subsequently spreads to people who come into touch with the bodily fluids of infected people.

Rwanda has started to distribute vaccination doses against the virus, giving priority to those who are most at risk, healthcare staff who are most exposed, and those who have close contact with confirmed cases.

The first known outbreak of viral hemorrhagic fever in Rwanda was discovered in late September; to yet, 36 cases and 11 fatalities have been reported. The death rate in Marburg might reach 88%.

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