Musings From Abroad

Canada freezes out foreign house ownership for two years

Published

2 years ago

April 12, 2022

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

US official accuses Russian troops of entering base housing US military in Niger

Published

2 days ago

May 4, 2024

Ifeoluwa Dada

According to a senior United States defence official quoted by Reuters, Russian military soldiers have entered an air base in Niger that is housing American troops. This action comes after the junta in Niger decided to drive out American forces.

The West African nation, which up until a coup last year had been a crucial ally for Washington’s struggle against insurgents who have killed hundreds of people and displaced millions more, had demanded that Washington remove the almost 1,000 American military personnel.

Speaking on condition of anonymity, a senior U.S. defence official stated that Russian personnel were using a different hangar at Airbase 101, which is close to Diori Hamani International Airport in the capital city of Niamey, Niger, rather than interacting with American troops.

Russian military action brings U.S. and Russian forces closer at a time when the country’s military and diplomatic rivalry is growing more intense due to the situation in Ukraine. Reuters was the first to report on the move. It also begs the question of what would happen to US installations in the nation after a pullout.

“(The situation) is not great but in the short-term manageable,” the official said.

When questioned about the Reuters article, U.S. Defense Secretary Lloyd Austin downplayed the possibility that Russian forces would approach American military assets or pose a threat to American troops.

“The Russians are in a separate compound and don’t have access to U.S. forces or access to our equipment,” Austin told a press conference in Honolulu.

“I’m always focused on the safety and protection of our troops … But right now, I don’t see a significant issue here in terms of our force protection.”
The Nigerien and Russian embassies in Washington did not immediately respond to a request for comment.

After coups that installed forces anxious to break away from Western governments in power, the United States and its allies were obliged to withdraw their troops from many African nations. Apart from the imminent withdrawal from Niger, American forces have recently departed Chad and been expelled from Mali and Burkina Faso.

Simultaneously, Russia is attempting to reinforce its ties with African countries by portraying itself as a friendlier nation with no colonial past in the region. For instance, Mali has emerged as one of Russia’s closest African friends in recent years, thanks to the deployment of the Wagner Group mercenary force there to combat jihadist insurgents.

Russia has said that ties with the United States are “below zero” due to American financial and military support for Ukraine’s defence against Russian forces on the invader’s territory.

Musings From Abroad

Hamas leader in talks for Gaza ceasefire with Egypt, Qatar

Published

2 days ago

May 4, 2024

Ifeoluwa Dada

Ismail Haniyeh, the leader of Hamas, spoke with Abbas Kamel, the head of Egypt’s security services, and Mohammed bin Abdulrahman Al Thani, the prime minister and foreign minister of Qatar, as negotiations continue for a ceasefire in Gaza.

In a statement released on Thursday, the Palestinian Islamist group stated that a delegation will soon be in Egypt for additional negotiations on a cease-fire in the Gaza conflict.

The statement further stated that during the phone conversation with Egypt’s Kamel, Haniyeh had confirmed the group’s “positive spirit in studying the ceasefire proposal”.

Hamas announced on Saturday that it had received Israel’s most recent stance and would review it before responding.

An unnamed high-ranking Egyptian source was quoted by the Egyptian state-affiliated Al-Qahera News as stating that the Hamas delegation would land in Cairo within the next two days.

The visit by the Hamas delegation may happen within the next two days, according to a Palestinian official close to the mediation quoted by Reuters.

Hamas’ statement added that the negotiations to be held in Cairo aim to “mature a deal that achieves the demands of our people and ends the aggression.”

Hamas also said on Thursday that Haniyeh and the prime minister of Qatar had decided to carry on with the current negotiations to “mature a deal” through mediation by the governments of Qatar and Egypt.

Egypt has redoubled its efforts to force Israel and Hamas to resume their stalled talks to reach an agreement on a truce in Gaza.