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Iran Seeks Regional Calm as President Issues Rare Apology Amid Escalating Conflict

  An explosion on Beirut's southern suburbs after an Israeli strike, following an escalation between Hezbollah and Israel amid the US-Israeli conflict with Iran, Lebanon, March 6, 2026. As the war enters its second week, Iran’s President Masoud Pezeshkian has issued an unusual public apology to neighbouring countries affected by Tehran’s recent military actions. He acknowledged the impact of Iranian strikes across the region and pledged that Iran would refrain from targeting nearby states unless attacks on Iran originate from their territory.  Despite the conciliatory tone, the conflict continues to intensify. Israel and Iran have exchanged fresh strikes, with missiles and drones still hitting cities across the Gulf. Iran’s temporary leadership council has reportedly approved suspending attacks on neighbouring states, but only conditionally, as tensions with the United States and Israel remain high.  The apology appears aimed at easing regional anger after Iranian proj...
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Canadian Service Sector Shrinks for Seventh Straight Month in December

 


According to S&P Global Canada services PMI data, the Canadian service sector shrank for the seventh consecutive month in December 2023, as elevated borrowing costs weighed on the housing market. The headline business activity index edged up to 44.6 in December from a near three-and-a-half-year low of 44.5 in November. However, it remained well below the 50 threshold that separates growth from contraction.

The Canadian service sector is a significant contributor to the country’s economy, and its contraction could have far-reaching implications. The sector includes industries such as finance, insurance, real estate, professional services, and retail trade. The contraction of the service sector could lead to a decline in employment opportunities and a decrease in consumer spending.


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