The World Trade Organization raised its outlook for global goods trade this year slightly, but cautioned Thursday that increasing geopolitical tensions and uncertainty over economy policy pose 鈥渟ubstantial鈥 risks to its forecast.
The Geneva-based WTO projected that global goods trade will increase by 2.7 per cent this year, compared with the 2.6 per cent it forecast in April. But it predicted growth of three per cent next year, down from the 3.3 per cent it forecast previously. Last year, the volume of world merchandise trade was down 1.1 per cent, pushed lower by high inflation and rising interest rates.
The global trade body cautioned that 鈥渞ising geopolitical tensions and increased economic policy uncertainty continue to pose substantial downside risks to the forecast.鈥
Still, it pointed to a 2.3 per cent year-on-year increase in global merchandise trade in this year's first six months and noted that inflation had fallen far enough by mid-year for central banks to start cutting interest rates.
鈥淲e are expecting a gradual recovery in global trade for 2024, but we remain vigilant of potential setbacks, particularly the potential escalation of regional conflicts like those in the Middle East,鈥 WTO Director-General Ngozi Okonjo-Iweala said in a statement. 鈥淭he impact could be most severe for the countries directly involved, but they may also indirectly affect global energy costs and shipping routes.鈥
The WTO said there is 鈥渟ome limited upside potential鈥 to its forecast if interest rate cuts in advanced economies fuel stronger-than-expected growth without reigniting inflation.
Milton made landfall as a Category 3 storm Wednesday night, causing widespread destruction and immobilizing critical infrastructure. The extent of the damage is not yet known.
As U.S. officials struggle to push back against misinformation about natural disasters hitting the country, at least three congressional Republicans condemned conspiracy theories repeated by fellow members of their party.
Hurricane Milton barreled into the Atlantic Ocean on Thursday after plowing across Florida, pounding cities with ferocious winds and rain, and whipping up a barrage of tornadoes. It caused at least four deaths and compounded the misery wrought by Helene while sparing Tampa a direct hit.
An Ontario man said he feels 'devastated' after learning his identity was stolen to take out two fraudulent loans under his name.
In her column for CTVNews.ca, royal commentator Afua Hagan writes about the pen friendship we didn't see coming, between Melania Trump, the former first lady of the United States, and King Charles III.
Twin brothers who were born conjoined recently celebrated their first birthday after undergoing successful separation surgery.
A West Vancouver company has been ordered to repay a homebuyer's $1-million deposit after it failed to complete construction on the property in time.
Two Orange County women are speaking out after they say they were kicked off of a Spirit Airlines flight because of what they were wearing.
Timelapse video of satellite imagery shows an impressive number of lightning flashes over Florida as Category 3 Hurricane Milton made landfall on Wednesday.
Halloween is right around the corner, but residents of a South Kanata community say they've been living in what feels like a horror movie for over a month.
Jennifer Johnson, Lacombe-Ponoka legislature member, has been welcomed back into the United Conservative Party (UCP).
During the campaign, BC Conservative Leader John Rustad has repeatedly said people are "dying on the streets" in the province 鈥 and on Tuesday he claimed to have witnessed that very thing in downtown Vancouver while he was on his way to the leaders' debate.
A bill restricting the sale of long-bladed weapons was introduced in Manitoba Wednesday by Justice Minister Matt Wiebe.
Lululemon founder Chip Wilson has had a second sign outside his $82-million home in Vancouver鈥檚 exclusive Point Grey neighbourhood defaced.
American actor and environmental activist Mark Ruffalo is weighing in on British Columbia politics, lauding the B.C. Green Party's stance on fossil fuels ahead of the Oct. 19 election.
U.S. Vice President Kamala Harris visits Nevada and Arizona while former U.S. president Donald Trump talks economic issues in Michigan, as presidential campaigning continues even with Hurricane Milton hitting Florida.
As U.S. officials struggle to push back against misinformation about natural disasters hitting the country, at least three congressional Republicans condemned conspiracy theories repeated by fellow members of their party.
Donald Trump's contributions from small-dollar donors have plummeted since his last White House campaign, presenting the former president with a financial challenge as he tries to keep pace with the Democrats' fundraising machine.
Israel's ground invasion in Lebanon stretched into its second week, as the Hezbollah militant group fired hundreds of rockets deep into Israel 鈥 with no end in sight to the escalating conflict.
Hurricane Milton barreled into the Atlantic Ocean on Thursday after plowing across Florida, pounding cities with ferocious winds and rain, and whipping up a barrage of tornadoes. It caused at least four deaths and compounded the misery wrought by Helene while sparing Tampa a direct hit.
An Israeli strike on a school sheltering the displaced in the Gaza Strip killed at least 27 people on Thursday, Palestinian medical officials said. The Israeli military said it targeted militants, but people sheltering there said the strike hit a meeting of aid workers.
In Laos, as Prime Minister Justin Trudeau pursues closer economic ties with the 10 nations of the Association of Southeast Asian Nations, widening global conflict will linger on the margin of the summit like a spectre that can鈥檛 be ignored.
A former chief of staff to a Liberal public safety minister has denied suggestions she worked to stall approval of a spy service warrant in early 2021 because it directly touched the operations of the Trudeau government.
Canada is adding another $15 million to its humanitarian aid package for Lebanon after an escalation in the conflict between Israel and the Lebanon-based militant group Hezbollah.
Twin brothers who were born conjoined recently celebrated their first birthday after undergoing successful separation surgery.
COVID-19 could be a powerful risk factor for heart attacks and strokes for as long as three years after an infection, a large new study suggests.
The Ontario Ministry of Health says four people have been sickened after consuming beef tongue believed to be contaminated with listeria.
Expectations are high for the long-awaited unveiling of Tesla's robotaxi at a Hollywood studio Thursday night. Too high for some analysts and investors.
As if the largest bug to ever live 鈥 a monster nearly nine feet long with as many as 64 legs 鈥 wasn鈥檛 terrifying enough, scientists could only just imagine what the extinct beast鈥檚 head looked like.
A severe solar storm is headed to Earth that could stress power grids even more as the U.S. deals with major back-to-back hurricanes, space weather forecasters said Wednesday.
The Nobel Prize in literature was awarded Thursday to South Korean author Han Kang for what the Nobel committee called 'her intense poetic prose that confronts historical traumas and exposes the fragility of human life.'
Taylor Swift has made a significant donation toward helping those affected by hurricanes Milton and Helene.
Global hitmaker Bryan Adams is adding his voice to opposition over new federal regulations on streaming.
A West Vancouver company has been ordered to repay a homebuyer's $1-million deposit after it failed to complete construction on the property in time.
Siskinds LLP says a $70.25 million class-action settlement has been reached with TD Asset Management over commissions paid to discount brokers.
'Mtn Dew' is getting a makeover, with the word 'mountain' reappearing on cans and bottles following a roughly two-decade-long hiatus.
Jeff Warner from Aidie Creek Gardens in the northern Ontario community of Englehart has a passion for growing big pumpkins and his effort is paying off in more ways than one.
Dave Lindsey began growing giant pumpkins to bring a bit of magic to his grandkids' Halloween.
While there's debate among experts about the stages of grief, 'people who are in the pain of grief are just saying, 鈥楬elp me,'' death and grieving expert David Kessler said. Here's what the five stages of grief are, and how you can consider and process them in whichever order you experience them.
Strong winds from Hurricane Milton caused extensive damage to the roof of St. Petersburg's Tropicana Field, home of the MLB's Tampa Bay Rays.
Rafael Nadal announced his impending retirement from tennis on Thursday at age 38 after winning 22 Grand Slam singles titles during an unprecedented era he shared with his rivals in the so-called Big Three, Roger Federer and Novak Djokovic.
The Calgary Flames were already preaching the importance of resilience a single game into the NHL season.
Dozens of cars were pulled out of the Detroit River in west Windsor on Tuesday, causing many questions for Windsorites.
Hundreds of thousands of vehicles are being recalled in Canada due to a steering-related issue that could increase a driver's risk of crash.
Mercedes-Benz has partnered up with the Ontario Vehicle Innovation Network (OVIN) and the provincial government to launch a new 鈥渋ncubator program鈥. One of the first three locations is Windsor, with the other two going to Toronto and Kitchener-Waterloo.
Jeff Warner from Aidie Creek Gardens in the northern Ontario community of Englehart has a passion for growing big pumpkins and his effort is paying off in more ways than one.
Saskatchewan鈥檚 Jessica Campbell has made hockey history, becoming the first ever female assistant coach in the National Hockey League (NHL).
Have you ever seen videos of hovercrafts online or on TV and thought, 'Wow, I wish I could ride one of those.' One Alberta man did, and then built his own.
A B.C. couple is getting desperate 鈥 and creative 鈥 in their search for their missing dog.
Videos of a meteor streaking across the skies of southern Ontario have surfaced and small bits of the outer space rock may have made it to land, one astronomy professor says.
A unique form of clouds made an appearance over the skies of Ottawa on Sunday evening.
Bernie Hicks, known as the 鈥楤atman of Amherst,鈥 always wanted to sit in a Batmobile until a kind stranger made it happen.
Bubi鈥檚 Awesome Eats, located on University Ave West took to social media to announce the closure on Friday.
Weeneebayko Area Health Authority and the Government of Ontario have awarded a $1.8 billion fixed-price contract to design, build and finance a new Far North hospital.
It all happened within a matter of seconds. Christopher Taylor was biking near an East Vancouver park on a leisurely Sunday morning when he looked left to see a police cruiser barrelling toward him.
The parents of a teen who died of a suspected drug overdose are calling on the government to improve addiction and mental health care.
On the heels of a commanding performance at the only televised leaders鈥 debate of the 2024 provincial election, the leader of the BC Green Party was scheduled to speak at a lively rally after making a public safety announcement in downtown Vancouver, but lost her voice and missed it at the last minute.
Peel Regional Police say homicide detectives have been notified after a person was found dead at a home in Brampton last night.
Royal LePage鈥檚 latest housing market forecast predicts a real estate rebound that will see Canada鈥檚 鈥渟luggish鈥 markets in recovery mode by spring following a third straight interest rate cut.
An Ontario man said he feels 'devastated' after learning his identity was stolen to take out two fraudulent loans under his name.
Calgary commuters can expect delays at 9th Avenue and 1st Street S.W. over several days.
Calgary police say more charges are expected against a man accused of intentionally starting a fire that caused an explosion in northeast Calgary over the weekend.
The Calgary Flames were already preaching the importance of resilience a single game into the NHL season.
The Ottawa Senators kick off the 2024-25 NHL season tonight at Canadian Tire Centre. CTVNewsOttawa.ca looks at what you need to know about the Senators this season.
The Ottawa-Carleton District School Board (OCDSB) says enrolment was 1,130 students below projections in elementary schools in September, including 750 fewer Kindergarten students.
Halloween is right around the corner, but residents of a South Kanata community say they've been living in what feels like a horror movie for over a month.
The City of Montreal's French-language committee wants a French-language office established to promote and increase the use of the language in the metropolis.
Although he acknowledges that there is still a lot of work to be done in mental health, Social Services Minister Lionel Carmant is confident that he has succeeded in reversing the trend.
Three young people aged 17, 19 and 20 were arrested after shots were fired late on Tuesday near Old Montreal.
It was a familiar start to the NHL season for the Edmonton Oilers.
Jennifer Johnson, Lacombe-Ponoka legislature member, has been welcomed back into the United Conservative Party (UCP).
Residents of communities like Allard say there are traffic snarls on local roads every morning, leading to dangerous driving.
Hurricane Milton made landfall in Florida as a Category 3 storm Wednesday night, among those assessing the damage in its aftermath is former CTV Atlantic employee and Maritimer Eric Bungay.
Milton made landfall as a Category 3 storm Wednesday night, causing widespread destruction and immobilizing critical infrastructure. The extent of the damage is not yet known.
A man and woman from British Columbia died in a two-vehicle crash in Baddeck Inlet, N.S., on Monday evening.
The superintendent of the Winnipeg School Division (WSD) has apologized over a message displayed during a professional development day on Wednesday.
A bill restricting the sale of long-bladed weapons was introduced in Manitoba Wednesday by Justice Minister Matt Wiebe.
Manitobans could be paying more for natural gas in the future.
A Saskatchewan Party candidate publicly apologized on Wednesday after it was revealed that he used a racial slur in caucus offices a year and a half ago.
Milton is shaping up to be a monster of a storm, expected to strike Florida as a Category 3 hurricane, just weeks after Hurricane Helene hit the region.
Saskatchewan RCMP say a larger police presence in Whitewood is related to a report of robbery with a firearm on Wednesday evening.
One person was struck by a GO train, near the Kitchener station, on Wednesday morning.
A former employee of CTV Kitchener has found a few memories buried in the walls of our old home at 864 King Street West.
Lithium batteries, found in everything from cellphones to electric vehicles, have become a part of our daily lives 鈥 but recent fires have prompted concerns about their use.
A Saskatchewan Party candidate publicly apologized on Wednesday after it was revealed that he used a racial slur in caucus offices a year and a half ago.
Healthcare workers rallied outside St. Paul鈥檚 Hospital in Saskatoon Wednesday, advocating for better conditions in emergency rooms.
Milton is shaping up to be a monster of a storm, expected to strike Florida as a Category 3 hurricane, just weeks after Hurricane Helene hit the region.
Milton made landfall as a Category 3 storm Wednesday night, causing widespread destruction and immobilizing critical infrastructure. The extent of the damage is not yet known.
An Ontario man said he feels 'devastated' after learning his identity was stolen to take out two fraudulent loans under his name.
Police in Huntsville are investigating a deadly single-vehicle collision that happened Tuesday morning.
Milton made landfall as a Category 3 storm Wednesday night, causing widespread destruction and immobilizing critical infrastructure. The extent of the damage is not yet known.
This latest crash was the second fatal and third serious accident at this intersection in the past couple of months - when asked, locals said that the intersection is 'kind of blind.'
Dozens of cars were pulled out of the Detroit River in west Windsor on Tuesday, causing many questions for Windsorites.
A boarded up home caught fire in Orillia early Thursday morning.
A Barrie man accused of assaulting a police officer in late September, which then became the topic of conversation in parliament last week, has been denied bail.
Provincial police are investigating reports of an armed robbery in Amaranth Township that sent one person to the hospital in critical condition.
A team 14 staff members from Entegrus are on their way to Florida to assist in the restoration of power to thousands of customers affected by hurricanes Hele and Milton.
Milton made landfall as a Category 3 storm Wednesday night, causing widespread destruction and immobilizing critical infrastructure. The extent of the damage is not yet known.
Brett Iler pleaded not guilty to six charges Wednesday as a result of a double fatal collision in the 2022 RetroFest Classic Car Cruise.
Abbas Motalebizadeh is a PhD candidate at the University of Victoria鈥檚 Mechanical Engineering Department and on Wednesday he was at the Victoria International Marina to test the Inner Harbour for microplastics.
During the campaign, BC Conservative Leader John Rustad has repeatedly said people are "dying on the streets" in the province 鈥 and on Tuesday he claimed to have witnessed that very thing in downtown Vancouver while he was on his way to the leaders' debate.
American actor and environmental activist Mark Ruffalo is weighing in on British Columbia politics, lauding the B.C. Green Party's stance on fossil fuels ahead of the Oct. 19 election.
Dave Lindsey began growing giant pumpkins to bring a bit of magic to his grandkids' Halloween.
A U.S. District Court judge in Montana has sentenced a 27-year-old man from Kelowna, B.C., to 18 months in prison for using fake names to buy guns with the aim of selling them in Canada.
Nearly two years after a man was stabbed to death in downtown Kelowna, RCMP have made an arrest in the case.
Thousands more Lethbridge residents will soon be without a family doctor.
Alberta's police watchdog says the Medicine Hat police officers who were involved in an in-custody death in August 2023 acted reasonably and with appropriate force in dealing with a suspect armed with a machete.
Charges have been laid against a 44-year-old man following a traffic stop in Brocket, Piikani Nation RCMP said Tuesday.
An annual international mining conference is underway in Greater Sudbury, Ont., marking the first time the Organization for Economic Co-operation and Development (OECD) Conference of Mining Regions and Cities has been held in North America.
Jeff Warner from Aidie Creek Gardens in the northern Ontario community of Englehart has a passion for growing big pumpkins and his effort is paying off in more ways than one.
A woman in Greater Sudbury, Ont., said "It doesn't get more Canadian than this" when she spotted a black bear dumpster diving at a Tim Hortons last month.
A Conservative MP from Newfoundland and Labrador says some small towns in his rural riding are overrun with crime, but police say they haven't received reports to that effect.
As millions in federal funding flow into a Labrador group whose claims of Inuit identity have been rejected by Indigenous organizations across Canada, a national Inuit leader worries the Liberal government is putting the rights of Indigenous Peoples at risk.
He may not have logged the fastest time or even gone the full distance, but residents of a Newfoundland town agree the goat who unexpectedly joined the local weekend half marathon was the event's undisputed champion.
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