Bitcoin falls by a fifth, cryptos see $1 bln worth liquidated
Bitcoin shed a fifth of its value on Saturday as a combination of profit-taking and macro-economic concerns triggered nearly a billion dollars worth of selling across cryptocurrencies.
Bitcoin was 12% down at 0920 GMT at $47,495. It fell as low as $41,967.5 during the session, taking total losses for the day to 22%.
The broad selloff in cryptocurrencies also saw ether , the coin linked to the ethereum blockchain network, plunge more than 10%.
Based on cryptocurrency data platform Coingecko, the market capitalisation of the 11,392 coins it tracks dropped nearly 15% to $2.34 trillion. That value had briefly crossed $3 trillion last month, when bitcoin hit a record $69,000.
Bitcoin shed a fifth of its value on Saturday as a combination of profit-taking and macro-economic concerns triggered nearly a billion dollars worth of selling across cryptocurrencies.
Bitcoin was 12% down at 0920 GMT at $47,495. It fell as low as $41,967.5 during the session, taking total losses for the day to 22%.
The broad selloff in cryptocurrencies also saw ether , the coin linked to the ethereum blockchain network, plunge more than 10%.
Based on cryptocurrency data platform Coingecko, the market capitalisation of the 11,392 coins it tracks dropped nearly 15% to $2.34 trillion. That value had briefly crossed $3 trillion last month, when bitcoin hit a record $69,000.
Modi's farm reform reversal to deter investment in India's agriculture
India's repeal of agriculture laws aimed at deregulating produce markets will starve its vast farm sector of much-needed private investment and saddle the government with budget-sapping subsidies for years, economists said.
Late last year, Prime Minister Narendra Modi's government introduced three laws meant to open up agriculture markets to companies and attract private investment, triggering India's longest-running protest by farmers who said the reforms would allow corporations to exploit them.
With an eye on a critical election in populous Uttar Pradesh state early next year, Modi agreed to rescind the laws in November, hoping to smooth relations with the powerful farm lobby which sustains nearly half the country's 1.3 billion people and accounts for about 15% of the $2.7 trillion economy.
India's repeal of agriculture laws aimed at deregulating produce markets will starve its vast farm sector of much-needed private investment and saddle the government with budget-sapping subsidies for years, economists said.
Late last year, Prime Minister Narendra Modi's government introduced three laws meant to open up agriculture markets to companies and attract private investment, triggering India's longest-running protest by farmers who said the reforms would allow corporations to exploit them.
With an eye on a critical election in populous Uttar Pradesh state early next year, Modi agreed to rescind the laws in November, hoping to smooth relations with the powerful farm lobby which sustains nearly half the country's 1.3 billion people and accounts for about 15% of the $2.7 trillion economy.
Indonesia Semeru volcanic eruption kills 14; dozens injured
The eruption of Indonesia's Semeru volcano has killed at least 14 people and injured dozens, the disaster mitigation agency (BNPB) said on Sunday, as search teams looked for victims in a landscape covered in deep layers of ash.
Semeru, the tallest mountain on Java island, threw up towers of ash and hot clouds on Saturday that blanketed nearby villages in East Java province and sent people fleeing in panic.
The eruption severed a strategic bridge connecting two areas in the nearby district of Lumajang with the city of Malang and wrecked buildings, authorities said.
A BNPB official said in a news conference late on Sunday that 14 people had been killed. Fifty-six were injured and 1,300 have been evacuated.
The eruption of Indonesia's Semeru volcano has killed at least 14 people and injured dozens, the disaster mitigation agency (BNPB) said on Sunday, as search teams looked for victims in a landscape covered in deep layers of ash.
Semeru, the tallest mountain on Java island, threw up towers of ash and hot clouds on Saturday that blanketed nearby villages in East Java province and sent people fleeing in panic.
The eruption severed a strategic bridge connecting two areas in the nearby district of Lumajang with the city of Malang and wrecked buildings, authorities said.
A BNPB official said in a news conference late on Sunday that 14 people had been killed. Fifty-six were injured and 1,300 have been evacuated.
Indonesia volcano: Rescuers race to find survivors of Indonesia eruption
At least 13 people have now died and dozens more are injured after a volcano erupted on Indonesia's Java island on Saturday, emergency authorities said.
Residents were filmed fleeing a giant ash cloud from Mt Semeru.
Pictures show entire villages buried in volcanic ash up to rooftops, and locals have described thick smoke blocking the Sun, leaving them in pitch darkness.
Officials said at least 57 people have been injured, with many suffering severe burns.
At least 13 people have now died and dozens more are injured after a volcano erupted on Indonesia's Java island on Saturday, emergency authorities said.
Residents were filmed fleeing a giant ash cloud from Mt Semeru.
Pictures show entire villages buried in volcanic ash up to rooftops, and locals have described thick smoke blocking the Sun, leaving them in pitch darkness.
Officials said at least 57 people have been injured, with many suffering severe burns.
Myanmar's deposed leader Suu Kyi found guilty in widely-criticised trial
A court in military-ruled Myanmar found deposed leader Aung San Suu Kyi guilty of charges of incitement and breaching coronavirus restrictions on Monday, drawing international condemnation of what some critics described as a "sham trial".
Suu Kyi is set to serve two years in detention at an undisclosed location, a sentence reduced from four years after a partial pardon from the country's military chief, state TV reported.
President Win Myint was also sentenced to four years as the court delivered its first verdicts in numerous cases against Suu Kyi and other civilian leaders ousted by the military in a coup on Feb. 1.
A court in military-ruled Myanmar found deposed leader Aung San Suu Kyi guilty of charges of incitement and breaching coronavirus restrictions on Monday, drawing international condemnation of what some critics described as a "sham trial".
Suu Kyi is set to serve two years in detention at an undisclosed location, a sentence reduced from four years after a partial pardon from the country's military chief, state TV reported.
President Win Myint was also sentenced to four years as the court delivered its first verdicts in numerous cases against Suu Kyi and other civilian leaders ousted by the military in a coup on Feb. 1.
Ukraine shows off U.S. military hardware, vows to fight off Russia
Ukraine's President Volodymyr Zelenskiy on Monday said his armed forces were capable of fighting off any Russian attack, as the country marked its national army day with a display of U.S. armoured vehicles and patrol boats.
U.S. President Joe Biden has pledged his "unwavering support" to Ukraine in its standoff with Moscow and will hold talks with Russian President Vladimir Putin on Tuesday to try to defuse the crisis. Zelenskiy is set to speak to U.S. Secretary of State Antony Blinken on Monday.
Ukraine has accused Russia of massing tens of thousands of troops near its border in preparation for a possible large-scale military offensive, raising the prospect of open war between the two neighbours.
Ukraine's President Volodymyr Zelenskiy on Monday said his armed forces were capable of fighting off any Russian attack, as the country marked its national army day with a display of U.S. armoured vehicles and patrol boats.
U.S. President Joe Biden has pledged his "unwavering support" to Ukraine in its standoff with Moscow and will hold talks with Russian President Vladimir Putin on Tuesday to try to defuse the crisis. Zelenskiy is set to speak to U.S. Secretary of State Antony Blinken on Monday.
Ukraine has accused Russia of massing tens of thousands of troops near its border in preparation for a possible large-scale military offensive, raising the prospect of open war between the two neighbours.
UAE to shift to Saturday-Sunday weekend in line with global markets
The United Arab Emirates will shift to a working week of four and half days with a Saturday-Sunday weekend from the start of next year to better align its economy with global markets, but private companies will be free to choose their own working week.
The oil-producing Gulf state, the region's commercial, trade and tourism hub, currently has a Friday-Saturday weekend. From Jan. 1, however, the weekend will start on Friday afternoon, including for schools, a government circular said.
The UAE has liberalised laws regarding cohabitation before marriage, alcohol and personal status laws in addition to the introduction of longer-term visas to lure businesses and talent.
The United Arab Emirates will shift to a working week of four and half days with a Saturday-Sunday weekend from the start of next year to better align its economy with global markets, but private companies will be free to choose their own working week.
The oil-producing Gulf state, the region's commercial, trade and tourism hub, currently has a Friday-Saturday weekend. From Jan. 1, however, the weekend will start on Friday afternoon, including for schools, a government circular said.
The UAE has liberalised laws regarding cohabitation before marriage, alcohol and personal status laws in addition to the introduction of longer-term visas to lure businesses and talent.
Malaysia court upholds guilty verdict for former PM Najib in 1MDB-linked case
A Malaysian appeals court on Wednesday upheld former premier Najib Razak's guilty verdict in a case linked to a corruption scandal at state fund 1Malaysia Development Bhd (1MDB).
Najib was sentenced to 12 years in prison and fined $50 million last year by a high court after being found guilty of criminal breach of trust, abuse of power and money laundering for illegally receiving about $10 million from SRC International, a former unit of now-defunct 1MDB.
A Malaysian appeals court on Wednesday upheld former premier Najib Razak's guilty verdict in a case linked to a corruption scandal at state fund 1Malaysia Development Bhd (1MDB).
Najib was sentenced to 12 years in prison and fined $50 million last year by a high court after being found guilty of criminal breach of trust, abuse of power and money laundering for illegally receiving about $10 million from SRC International, a former unit of now-defunct 1MDB.
Indian farmers receive new government offer, may call off protest
India's protesting farmers have received a revised proposal from the government addressing some of their pending demands such as a new law to secure government prices for crops beyond rice and wheat, farm union leaders said on Wednesday.
Tens of thousands of farmers have staged their long-running protests to persuade Prime Minister Narendra Modi to repeal three agriculture laws from late 2020. Last month, Modi made a surprise u-turn, saying he would roll them back.
India's protesting farmers have received a revised proposal from the government addressing some of their pending demands such as a new law to secure government prices for crops beyond rice and wheat, farm union leaders said on Wednesday.
Tens of thousands of farmers have staged their long-running protests to persuade Prime Minister Narendra Modi to repeal three agriculture laws from late 2020. Last month, Modi made a surprise u-turn, saying he would roll them back.
Serbia gov't bows to protesters' demands, changes two laws
Serbia's ruling coalition moved on Wednesday to change two laws critics say would let foreign companies exploit local resources, bowing to demands by anti-government protesters who had blocked roads throughout the country for two weekends in a row.
The government has offered mineral resources to companies including China's Zijin copper miner 601899.SS and Rio Tinto RIO.L. Green activists, who took part in the protests, say the projects will pollute land and water in the Balkan nation.
In the latest demonstrations, on Saturday, thousands of environmental activists blocked roads at 50 locations demanding changes to the two laws.
One is a referendum law passed last month that would make it harder for people to protest against polluting projects, and the other is a new expropriation law, which makes it easier for the state to acquire private land.
Serbia's ruling coalition moved on Wednesday to change two laws critics say would let foreign companies exploit local resources, bowing to demands by anti-government protesters who had blocked roads throughout the country for two weekends in a row.
The government has offered mineral resources to companies including China's Zijin copper miner 601899.SS and Rio Tinto RIO.L. Green activists, who took part in the protests, say the projects will pollute land and water in the Balkan nation.
In the latest demonstrations, on Saturday, thousands of environmental activists blocked roads at 50 locations demanding changes to the two laws.
One is a referendum law passed last month that would make it harder for people to protest against polluting projects, and the other is a new expropriation law, which makes it easier for the state to acquire private land.
Instagram aims to launch chronological feed option in 2022
The head of Instagram said on Wednesday he aims to launch next year a version of the app with a chronological feed, rather than one ranked algorithmically, in his first appearance before Congress where he was grilled about children's safety online.
Instagram's Adam Mosseri was the latest tech executive pressed by lawmakers to provide more transparency into their platforms' algorithms and the impact of the content they curate and recommend for users.
The head of Instagram said on Wednesday he aims to launch next year a version of the app with a chronological feed, rather than one ranked algorithmically, in his first appearance before Congress where he was grilled about children's safety online.
Instagram's Adam Mosseri was the latest tech executive pressed by lawmakers to provide more transparency into their platforms' algorithms and the impact of the content they curate and recommend for users.
Saudi women's rights activist says phone hack by U.S. contractors led to arrest -lawsuit
A Saudi Arabian women's rights activist accused three former U.S. intelligence contractors of an illegal hack of her phone that was instrumental in her being arrested and later tortured in her home country, according to a lawsuit filed in a U.S. court.
Loujain al-Hathloul helped lead a campaign to allow Saudi Arabian women to drive by live-streaming herself violating the ban, which was lifted in 2018.
She spent almost three years in Saudi jails and is currently banned from leaving the Kingdom. The lawsuit was filed on her behalf on Thursday in a federal court in Oregon by the privacy non-profit organization Electronic Frontier Foundation.
It alleged that the surveillance operation run by the three ex-contractors and DarkMatter, a United Arab Emirates cybersecurity company, led to al-Hathloul's arrest by the UAE’s security services.
A Saudi Arabian women's rights activist accused three former U.S. intelligence contractors of an illegal hack of her phone that was instrumental in her being arrested and later tortured in her home country, according to a lawsuit filed in a U.S. court.
Loujain al-Hathloul helped lead a campaign to allow Saudi Arabian women to drive by live-streaming herself violating the ban, which was lifted in 2018.
She spent almost three years in Saudi jails and is currently banned from leaving the Kingdom. The lawsuit was filed on her behalf on Thursday in a federal court in Oregon by the privacy non-profit organization Electronic Frontier Foundation.
It alleged that the surveillance operation run by the three ex-contractors and DarkMatter, a United Arab Emirates cybersecurity company, led to al-Hathloul's arrest by the UAE’s security services.
Assange one step closer to extradition to United States
WikiLeaks founder Julian Assange on Friday moved a step closer to facing criminal charges in the United States for one of the biggest ever leaks of classified information after Washington won an appeal over his extradition in an English court.
U.S. authorities accuse Australian-born Assange, 50, of 18 counts relating to WikiLeaks’ release of vast troves of confidential U.S. military records and diplomatic cables which they said had put lives in danger.
Assange's supporters cast him as an anti-establishment hero who has been persecuted by the United States for exposing U.S. wrongdoing and double-dealing across the world from Afghanistan and Iraq to Washington.
At the Royal Courts of Justice in London, the United States won an appeal against a ruling by a London District Judge that Assange should not be extradited because he was likely to commit suicide in a U.S. prison.
WikiLeaks founder Julian Assange on Friday moved a step closer to facing criminal charges in the United States for one of the biggest ever leaks of classified information after Washington won an appeal over his extradition in an English court.
U.S. authorities accuse Australian-born Assange, 50, of 18 counts relating to WikiLeaks’ release of vast troves of confidential U.S. military records and diplomatic cables which they said had put lives in danger.
Assange's supporters cast him as an anti-establishment hero who has been persecuted by the United States for exposing U.S. wrongdoing and double-dealing across the world from Afghanistan and Iraq to Washington.
At the Royal Courts of Justice in London, the United States won an appeal against a ruling by a London District Judge that Assange should not be extradited because he was likely to commit suicide in a U.S. prison.
Brazil health ministry website hit by hackers, vaccination data targeted
Brazil's health ministry said its website was hit on Friday by a hacker attack that took several systems down, including one with information about the national immunization program and another used to issue digital vaccination certificates.
The government put off for a week implementing new health requirements for travelers arriving in Brazil due to the attack.
"The health ministry reports that in the early hours of Friday it suffered an incident that temporarily compromised some of its systems ... which are currently unavailable," it said in a statement.
Police said they were investigating the attack.
Brazil's health ministry said its website was hit on Friday by a hacker attack that took several systems down, including one with information about the national immunization program and another used to issue digital vaccination certificates.
The government put off for a week implementing new health requirements for travelers arriving in Brazil due to the attack.
"The health ministry reports that in the early hours of Friday it suffered an incident that temporarily compromised some of its systems ... which are currently unavailable," it said in a statement.
Police said they were investigating the attack.
Palestinians vote in local elections amid rising anger with Abbas
Palestinians held municipal elections in the Israeli-occupied West Bank on Saturday in a rare democratic exercise and amid rising anger with President Mahmoud Abbas after he cancelled planned legislative and presidential votes earlier this year.
More than 400,000 Palestinians were eligible to cast ballots for representatives in 154 village councils in the West Bank, where Abbas' Palestinian Authority has limited self-rule. Municipal votes are typically held every four or five years.
Municipal elections are not being held in Gaza, whose Islamist rulers Hamas are boycotting the vote amid a rift with Abbas' Fatah party. The 86-year-old president postponed municipal votes in major West Bank cities, such as Ramallah, that could have been seen as a referendum on Abbas' rule.
Palestinians held municipal elections in the Israeli-occupied West Bank on Saturday in a rare democratic exercise and amid rising anger with President Mahmoud Abbas after he cancelled planned legislative and presidential votes earlier this year.
More than 400,000 Palestinians were eligible to cast ballots for representatives in 154 village councils in the West Bank, where Abbas' Palestinian Authority has limited self-rule. Municipal votes are typically held every four or five years.
Municipal elections are not being held in Gaza, whose Islamist rulers Hamas are boycotting the vote amid a rift with Abbas' Fatah party. The 86-year-old president postponed municipal votes in major West Bank cities, such as Ramallah, that could have been seen as a referendum on Abbas' rule.
Time is running out for Iran nuclear deal, Germany says
Germany's foreign minister warned on Saturday that time was running out to find a way to revive a 2015 nuclear deal between world powers and Iran, speaking after meetings with her counterparts from G7 countries.
Talks have resumed in Vienna to try to revive the nuclear pact, with both sides trying to gauge the prospects of success after the latest exchanges in the stop-start negotiations.
"Time is running out," German Foreign Minister Annalena Baerbock told reporters in Liverpool, England where G7 foreign ministers are meeting.
"It has shown in the last days that we do not have any progress."
Germany's foreign minister warned on Saturday that time was running out to find a way to revive a 2015 nuclear deal between world powers and Iran, speaking after meetings with her counterparts from G7 countries.
Talks have resumed in Vienna to try to revive the nuclear pact, with both sides trying to gauge the prospects of success after the latest exchanges in the stop-start negotiations.
"Time is running out," German Foreign Minister Annalena Baerbock told reporters in Liverpool, England where G7 foreign ministers are meeting.
"It has shown in the last days that we do not have any progress."
Israeli PM to pay first visit to UAE since formalising ties
Israeli Prime Minister Naftali Bennett will travel to the United Arab Emirates on Sunday and meet the Gulf state's de facto ruler in the highest-level visit since the countries formalised relations last year.
The trip comes amid heightened regional tension as world powers' try to renew a nuclear deal with Iran. Israel has broached setting up joint defences with Gulf Arab states that share its concern over Iranian activities.
Yet UAE has recently mounted outreach to neighbouring Iran, sending a top official there last Monday.
"I will be going out today to the United Arab Emirates, in the first visit ever by an Israeli prime minister," Bennett told his cabinet on Sunday.
Israeli Prime Minister Naftali Bennett will travel to the United Arab Emirates on Sunday and meet the Gulf state's de facto ruler in the highest-level visit since the countries formalised relations last year.
The trip comes amid heightened regional tension as world powers' try to renew a nuclear deal with Iran. Israel has broached setting up joint defences with Gulf Arab states that share its concern over Iranian activities.
Yet UAE has recently mounted outreach to neighbouring Iran, sending a top official there last Monday.
"I will be going out today to the United Arab Emirates, in the first visit ever by an Israeli prime minister," Bennett told his cabinet on Sunday.
Russia leads the world in hypersonic missiles tech, Putin says
Russia is the global leader in hypersonic missiles and, by the time other countries catch up, is likely to have developed technology to counteract these new weapons, President Vladimir Putin said.
Russia and the United States have an approximate parity when if comes to the number of warheads and their carriers, Putin said in comments aired on Sunday as part of a documentary film called "Russia. New History".
"But in our advanced developments, we are definitely the leaders," Putin said, adding that Russia is also No. 1 in the world by the scale of upgrades of its traditional weapons.
The president said that in the future, other world powers would possess similar hypersonic weapon technology.
Russia is the global leader in hypersonic missiles and, by the time other countries catch up, is likely to have developed technology to counteract these new weapons, President Vladimir Putin said.
Russia and the United States have an approximate parity when if comes to the number of warheads and their carriers, Putin said in comments aired on Sunday as part of a documentary film called "Russia. New History".
"But in our advanced developments, we are definitely the leaders," Putin said, adding that Russia is also No. 1 in the world by the scale of upgrades of its traditional weapons.
The president said that in the future, other world powers would possess similar hypersonic weapon technology.
U.N. chief urges action on 'killer robots' as Geneva talks open
United Nations Secretary-General Antonio Guterres called on Monday for new rules covering the use of autonomous weapons as a key meeting on the issue opened in Geneva.
Negotiators at the U.N. talks have for eight years been discussing limits on lethal autonomous weapons, or LAWS, which are fully machine-controlled and rely on new technology such as artificial intelligence and facial recognition.
United Nations Secretary-General Antonio Guterres called on Monday for new rules covering the use of autonomous weapons as a key meeting on the issue opened in Geneva.
Negotiators at the U.N. talks have for eight years been discussing limits on lethal autonomous weapons, or LAWS, which are fully machine-controlled and rely on new technology such as artificial intelligence and facial recognition.
U.S. Supreme Court rejects religious challenge to New York vaccine mandate
The U.S. Supreme Court on Monday rejected challenges brought by a group of Christian doctors and nurses and an organization that promotes vaccine skepticism to New York's refusal to allow religious exemptions to the state's mandate that healthcare workers be vaccinated against COVID-19.
Acting in two cases, the justices denied emergency requests for an injunction requiring the state to permit religious exemptions while litigation over the mandate's legality continues in lower courts. Conservative Justices Clarence Thomas, Samuel Alito and Neil Gorsuch said they would have granted the injunction.
The U.S. Supreme Court on Monday rejected challenges brought by a group of Christian doctors and nurses and an organization that promotes vaccine skepticism to New York's refusal to allow religious exemptions to the state's mandate that healthcare workers be vaccinated against COVID-19.
Acting in two cases, the justices denied emergency requests for an injunction requiring the state to permit religious exemptions while litigation over the mandate's legality continues in lower courts. Conservative Justices Clarence Thomas, Samuel Alito and Neil Gorsuch said they would have granted the injunction.
Tesla to accept dogecoin as payment for merchandise, says Musk
Tesla Inc (TSLA.O) chief Elon Musk said on Tuesday the electric carmaker will accept dogecoin as payment for merchandise on a test basis, sending the meme-based cryptocurrency up 24%.
"Tesla will make some merch buyable with Doge & see how it goes," Musk said in a tweet.
Dogecoin, , popular among retail investors, raced up to $0.20 after the tweet. Musk's tweets on the cryptocurrency, including the one where he called it the "people's crypto", have helped the meme coin soar 5,859% over the past year, according to data from Coinbase website.
Musk did not specify what merchandise, which starts from $50 and goes as high as $1,900, could be bought with dogecoin.
Tesla Inc (TSLA.O) chief Elon Musk said on Tuesday the electric carmaker will accept dogecoin as payment for merchandise on a test basis, sending the meme-based cryptocurrency up 24%.
"Tesla will make some merch buyable with Doge & see how it goes," Musk said in a tweet.
Dogecoin, , popular among retail investors, raced up to $0.20 after the tweet. Musk's tweets on the cryptocurrency, including the one where he called it the "people's crypto", have helped the meme coin soar 5,859% over the past year, according to data from Coinbase website.
Musk did not specify what merchandise, which starts from $50 and goes as high as $1,900, could be bought with dogecoin.