Author: Press Room

Chinese planes cross Taiwan Strait median line as angry China starts drills

Economy

Forty-two Chinese fighter jets briefly crossed the sensitive median line of the Taiwan Strait on Saturday as China began drills around Taiwan in anger at President Tsai Ing-wen’s meeting with the speaker of the U.S. House of Representatives.The three-day drills, announced the day after Tsai returned from the United States, had been widely expected after China condemned her Wednesday meeting with Speaker Kevin McCarthy in Los Angeles.China views democratically governed Taiwan as its own territory and has never renounced the use of force to bring the island under its control. Taiwan’s government strongly objects to China’s claims.Beijing’s announcement also came…

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WrestleMania apologizes for using footage of Auschwitz in promotional spot

Investing

World Wrestling Entertainment apologized Friday after using footage of Auschwitz, the infamous Nazi concentration and extermination camp, in a promotional spot for a hyped father-son match. On Twitter, the Auschwitz-Birkenau Memorial and Museum said it was hard to call it an “editing mistake.” “Exploiting the site that became a symbol of enormous human tragedy is shameless and insults the memory of all victims of Auschwitz,” the organization tweeted. The promotional video for WrestleMania 39 featured WWE wrestler Dominik Mysterio, who has an ongoing rivalry with his father, Rey Mysterio, and was “arrested” in December for pushing him. “You think this…

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BTC Remains Below $28,250 Amid Strong US Nonfarm Payroll Report

Crypto

Bitcoin (BTC), the world’s largest cryptocurrency, failed to prolong its upward rally and dropped below $28,000 on Friday. Bitcoin had been on a positive trend, reaching a high of $29,000 earlier in the week. Although, it was short-term gains as it dropped below $28,000 today, signaling a bearish sentiment in the market.However, Bitcoin continues to struggle to break through the $28,250 resistance level, while Ethereum is showing signs of consolidation.Crypto Market Fundamentals The reason for its upward rally could be attributed to the bullish US dollar, which rose lately after the release of strong US job growth data, increasing the probability…

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OPEC’s surprise production cut complicates the Fed’s fight against inflation

Investing

A surprise production cut announcement this week from Saudi Arabia and several other OPEC+ oil producers complicates the Federal Reserve’s mission to cool the economy and could worsen inflation in the United States, economists say. Energy prices across the globe surged last year when Russia invaded Ukraine, fueling global inflation just as the world’s major economies were beginning to rebalance after the pandemic. Since then, a drop in energy prices has helped cool US inflation, which has fallen from a 40-year peak of 9.1% in June to 6% in February, year over year, according to the Consumer Price Index. Energy…

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Thailand Opposition Leader Vows $300 Crypto Ai

Crypto

The opposition leader of Thailand has promised to airdrop 10,000 baht ($300) in digital currency to anyone 16 or over should his Pheu Thai Party win the next election. On Wednesday, real estate mogul turned candidate Srettha Thavisin announced the $300 handout policy in the heavily populated central Thai province Nonthaburi, according to a report by the Bangkok Post.Paetongtarn Shinawatra, Pheu Thai’s chief adviser on public participation and innovation, claimed the policy is part of a blockchain-based project designed to distribute Thai products abroad and help introduce digital currencies to Thailand. The $300 airdrop will need to be spent within a 4-kilometer community…

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