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1 in 4 Canadians Can Only Afford the Minimum Payment on Their Credit Card

  Published August 24, 2026 · Canadian Money Brief A new survey from Equifax Canada puts a hard number on something a lot of us have felt creeping up all year: credit cards are doing more of the heavy lifting in Canadian budgets, and fewer people are paying them off. Of more than 1,500 Canadians surveyed, a quarter said they expect to make only the minimum monthly payment on their credit card, and another 7% think they'll fall behind entirely. That leaves just over half — 56% — who expect to pay their balance in full each month. The survey also found that 40% of respondents are spending more overall than they were a year ago, more than double the 18% who say they're spending less. Nearly 3 in 10 said they're leaning more heavily on credit cards to cover essentials like groceries and utilities, and close to a quarter are dipping into savings to keep up with everyday costs. More than a third have cut back on contributions to savings, investments, or education funds to make ro...
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Gulf Tensions Escalate as Blasts Rock Dubai, Doha, and Duqm for Second Day

 

                                    Smoke billows from Jebel Ali port after an Iranian attack in Dubai 


Fresh explosions reverberated across Dubai and Doha for the second consecutive day, marking a sharp escalation in regional tensions as Iranian retaliatory strikes widened across the Gulf. Oman’s Duqm port was also hit, marking the first such strike on the sultanate.

Expanding Strikes Across the Gulf

Loud blasts were reported over both Dubai and Qatar’s capital, Doha, as Iran broadened its response to earlier U.S. and Israeli attacks. While Iran had previously signaled intentions to target U.S. bases, the latest wave of strikes hit multiple civilian and commercial areas across Gulf cities. 

Damage and Casualties

In Dubai, shrapnel from intercepted drones injured two people after debris fell onto residential homes. Key landmarks—including Dubai International Airport, the Burj Al Arab, and the Palm Jumeirah—sustained damage, with thick plumes of smoke rising from affected sites. 

Doha also reported loud blasts, though Qatar managed to contain fires in its industrial zone without casualties. 

Duqm Port Targeted

Oman experienced its first strike in this escalation as drones targeted the Duqm port, injuring one worker. The attack marked a significant expansion of the conflict into a country long seen as a neutral mediator in regional tensions.

Growing Regional Concerns

The widening scope of the strikes has raised fears of a broader conflict engulfing the Gulf, a region typically viewed as a stable hub for global commerce and energy. With multiple cities now affected, governments are heightening security measures as uncertainty deepens. 


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