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Canada Bans Foreigners From Buying Homes

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Prime Minister, Justin Trudeau
Prime Minister, Justin Trudeau
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A ban on foreigners buying residential property in Canada took effect on Sunday, aiming to make more homes available to locals facing a housing crunch in the country.

Several exceptions in the act allow individuals such as refugees and permanent residents who are not citizens to buy homes.

In late December, Ottawa also clarified that the ban would apply only to city dwellings and not to recreational properties such as summer cottages.

The temporary two-year measure was proposed by Prime Minister, Justin Trudeau, during the 2021 election campaign when soaring prices put home ownership beyond the reach of many Canadians.

“The desirability of Canadian homes is attracting profiteers, wealthy corporations, and foreign investors.

“This is leading to a real problem of underused and vacant housing, rampant speculation, and skyrocketing prices. Homes are for people, not investors,” his Liberal Party said in its election plank at the time.

Following their 2021 election victory, the Liberals quietly introduced the Prohibition on the Purchase of Residential Property by Non-Canadians Act.

Major markets such as Vancouver and Toronto have also introduced taxes on non-residents and empty homes.

Despite a recent heyday, the country’s real estate market has cooled for sellers as mortgage rates followed the Bank of Canada’s aggressive monetary policy in a bid to rein in inflation.

According to the Canadian Real Estate Association, average home prices have fallen from a peak of more than Can$800,000 (US$590,000) at the start of 2022 to just over Can$630,000 (US$465,000) last month.

Many experts have also said the ban on foreign buyers – who accounted for less than five percent of home ownership in Canada, according to the national statistical agency – would not have the desired effect of making homes more affordable.

Rather they point to a need for more housing construction to meet demand.

The Canada Mortgage and Housing Corporation – the national housing agency – said in a June report that close to 19 million housing units will be needed by 2030.

That means 5.8 million new homes must be built, or 3.5 million more than are currently anticipated to be built to meet that demand, it said.

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International

Trump Says Middle East War Could End ‘Very Soon’ as Markets Rally

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Donald Trump
US President, Donald Trump
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United States President Donald Trump has said the ongoing Middle East conflict could end within weeks, expressing confidence that the war may be concluded “very soon.”

Speaking at the White House, Trump told reporters that U.S. forces could withdraw from Iran within “two weeks, maybe three,” adding, “we’re finishing the job.” He also indicated that a diplomatic agreement could still be reached before any final military outcome.

Earlier, Iranian President Masoud Pezeshkian said Tehran possesses “the necessary will” to end the conflict, provided key conditions are met, including guarantees against future aggression.

The remarks from both leaders raised hopes for a resolution to the month-long crisis, prompting a surge in global financial markets. On Wall Street, the Nasdaq Composite rose 3.8 percent, while the S&P 500 gained nearly three percent.

Asian markets also posted strong gains, with major indices in Seoul, Tokyo, and Taipei rising sharply, alongside advances in Hong Kong, Shanghai, Sydney, Singapore, Manila, and Jakarta.

Despite the optimism, oil markets remained volatile amid concerns over the strategic Strait of Hormuz, through which roughly 20 percent of global oil and gas supplies pass. Trump stated that the United States would not intervene to reopen the strait if it were blocked, suggesting other nations should take responsibility.

Meanwhile, Israeli Prime Minister Benjamin Netanyahu signaled continued military operations, stating that Israel would press on with its campaign against what he described as a “terror regime.”

The economic fallout from the conflict has intensified, with U.S. gasoline prices surpassing $4 per gallon for the first time in four years and inflation pressures rising in Europe. Analysts warn that sustained high oil prices—currently above $100 per barrel—could further strain global economic growth.

Additional tensions emerged following reports that the United Arab Emirates is considering supporting efforts to reopen the Strait of Hormuz, potentially under a United Nations mandate, which could mark a significant escalation.

As diplomatic signals remain mixed, analysts caution that uncertainty surrounding the conflict and global energy supplies is likely to persist in the near term.

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UK Announces Tight Security, Road Closures Ahead of President Tinubu’s State Visit to Windsor Castle

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President Bola Tinubu with King Charles
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Authorities in the United Kingdom have announced road closures and temporary airspace restrictions ahead of the arrival of Nigerian President Bola Ahmed Tinubu for a state visit hosted by Charles III.

President Tinubu is expected to begin the visit on Wednesday, March 18, accompanied by Nigeria’s First Lady, Oluremi Tinubu. An official reception for the Nigerian leader is scheduled to take place at Windsor Castle.

In a statement issued on Wednesday, Thames Valley Police said it is working closely with the Royal Borough of Windsor and Maidenhead, the Royal Household, and other security partners to ensure the visit proceeds smoothly and securely.

As part of the heightened security arrangements, authorities confirmed that the permanent airspace restrictions over Windsor Castle will be extended on March 18 from 7:00 a.m. to 11:59 p.m.

Chief Superintendent Adrian Hall of the police force’s Joint Operations Unit said the airspace limitations form only one aspect of a comprehensive security operation planned for the high-profile diplomatic engagement.

“The air restrictions are just one part of our robust security operation for the state visit of Nigerian President Tinubu next week, with many measures you will see and others you will not,” Hall said.

He added that the police have extensive experience managing security during royal events in Windsor, noting that significant planning and preparation have gone into the operation.

Hall also warned that the authorities would strictly enforce the restrictions, stressing that any violation would constitute a criminal offence under the Air Navigation Order and could lead to arrest.

Security deployment during the visit will include specialised police units such as search teams, mounted officers, road policing personnel, and armed officers. These units will operate alongside neighbourhood policing teams and resources from the Project Servator.

Officials said additional safety measures would include Windsor’s extensive closed-circuit television network and hostile vehicle mitigation barriers positioned around key locations.

Authorities have urged members of the public to remain vigilant and report any suspicious activity by contacting police through 101 or speaking directly with officers on duty. Emergencies should be reported through the 999 service.

Meanwhile, road closures and parking restrictions are set to take effect from Tuesday, March 17, with temporary traffic disruptions expected in and around Windsor during the visit.

Thames Valley Police added that it is working in coordination with the Civil Aviation Authority and National Air Traffic Services to enforce the temporary flight restrictions. Individuals with legitimate reasons to operate drones during the restricted period have been advised to seek prior clearance from the police.

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Tinubu Dispatches Delegation to Represent Nigeria at Burial of Rev. Jesse Jackson

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President Bola Ahmed Tinubu and Late Rev Jesse Jackson
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President Bola Ahmed Tinubu has appointed a five-member delegation to represent Nigeria at the burial of American civil rights leader Jesse Jackson, who died on February 17, 2026, at the age of 84 in Chicago.

The delegation is headed by Senator George Akume, Secretary to the Government of the Federation. Other members include Minister of State for Foreign Affairs Bianca Odumegwu-Ojukwu; Minister of Arts, Culture and Creative Economy Hannatu Musawa; Special Presidential Envoy for Global and Pan-African Affairs Brian Browne; and Senior Special Assistant on Foreign Affairs and International Relations, Ambassador Sola Enikanolaye.

According to a State House statement issued on March 4 by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, the delegation will formally convey President Tinubu’s condolences to Jackson’s family and associates.

In an earlier tribute, Tinubu described Jackson as “a great friend of Nigeria and Africa,” highlighting his vocal opposition to apartheid in South Africa. The Nigerian leader recalled Jackson’s advocacy for the release of Nelson Mandela and other leaders of the African National Congress, as well as his role in mobilising international support for sanctions against the apartheid regime.

Funeral events began on February 26 with a lying-in-state at the Rainbow PUSH Coalition in Chicago. Additional memorial services have been held in South Carolina and Washington, D.C., including a lying-in-state at the South Carolina Statehouse from March 1 to 5.

A “People’s Celebration” is scheduled for March 6 at the House of Hope in Chicago, followed by a private homegoing service on March 7 at the Rainbow PUSH Coalition.

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