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Rising Tensions Leave Ships Stranded in Key Oil Passage

Traffic through the Strait of Hormuz ⁠was closed for a fourth day on Tuesday, choking off a key artery accounting for about 20% of global oil and gas supply. Greece’s Minister of Maritime Affairs and Insular Policy, Vassilis Kikilias, has raised urgent concerns over an increasingly alarming situation in the Strait of Hormuz, where dozens of vessels remain stranded amid escalating conflict involving Iran. He emphasized the need to safeguard global shipping and protect seafarers as the strategic waterway—responsible for roughly 20% of global oil and gas flows—remains closed for a fourth consecutive day.  The closure has disrupted international trade routes and heightened anxiety across the maritime sector. Greek authorities have urged shipowners to exercise maximum caution and avoid high‑risk zones in the wider Persian Gulf region as tensions continue to rise. The prolonged shutdown underscores the vulnerability of global supply chains to geopolitical instability and highlights th...
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Financial Literacy for Youth: A Guide to Building a Strong Financial Foundation

 

Financial literacy is a crucial life skill that every child should learn. It is the ability to understand and manage one’s finances effectively. In Canada, there are several programs and resources available to help children and youth develop financial literacy skills.

According to the Financial Consumer Agency of Canada, financial literacy programs are available for both students and adults. These programs provide educational materials to help increase financial knowledge and skills. For instance, the Your Financial Toolkit is an online learning program that provides financial information and tools for adults. The Financial Basics workshop is a money management workshop that helps young adults make smart financial decisions.

Money Mentors is another organization that provides free financial literacy resources for youth. They offer free in-school and community presentations, online extension activities, spending plans, and more.

The Canadian Foundation for Economic Education has published a guide called Money and Youth that serves as a “Guide to Financial Literacy” for youth ages 14 and up. It is also a primer for adults, especially parents and teachers who often assume responsibilities for helping children improve their financial capability.

In addition to these resources, parents can also take steps to teach their children about financial literacy. For example, parents can encourage their children to develop an entrepreneurial plan for an age-appropriate business. This can help children attach a value to dollars earned and motivate them to learn more about the financial world. Parents can also talk to their children about opening a personal bank account and help them research an account that caters to children as a way to help them better conceptualize saving and everyday banking.

In conclusion, financial literacy is an important issue across Canada. With the help of various programs and resources, children and youth can develop the skills they need to manage their finances effectively and prepare for the future. Parents can also play a crucial role in teaching their children about financial literacy and helping them develop a strong sense of effective financial management as they move forward in life.

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