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Bitcoin Down Almost 50% From Year’s High

Koko Lawrence
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Bitcoin Down Almost 50% From Year’s High

Bitcoin fell 13% on Sunday after the world’s biggest and best-known cryptocurrency suffered another sell-off that left it down nearly 50% from the year’s high.

Bitcoin fell to $32,601 at 1800 GMT (2 p.m. ET), losing $4,899.54 from its previous close. It hit a high for the year of $64,895.22 on April 14.

Ether, the coin linked to the ethereum blockchain network, dropped 17% to $1,905 on Sunday, losing $391.31 from its previous close.

Bitcoin markets operate 24/7, setting the stage for price swings at unpredictable hours.

“Many point to bitcoin’s volatility as untenable,” wrote RBC Capital Markets’ Amy Wu Silverman in a research note published on Saturday. “Indeed, Bitcoin makes severe and dizzying swings.”

Bitcoin had been under pressure after a series of tweets last week by billionaire Tesla Chief Executive and cryptocurrency backer Elon Musk, chiefly his reversal on Tesla accepting bitcoin as payment.

In addition, on Friday China cracked down on mining and trading of the largest cryptocurrency as part of ongoing efforts to prevent speculative and financial risks.

China’s latest campaign against crypto came after the U.S. Treasury Department on Thursday called for new rules that would require large cryptocurrency transfers to be reported to the Internal Revenue Service, and the Federal Reserve flagged the risks cryptocurrencies posed to financial stability.

Little Island Park Built By Billionaire, Further Transforms Manhattan’s West Side

Koko Lawrence
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Little Island Park Built By Billionaire, Further Transforms Manhattan’s West Side

Little Island is its name, but the vision and the budget behind it were colossal.

The public park on the Hudson River finally opened Friday nearly seven years after plans were unveiled, thanks to billionaire media mogul Barry Diller, whose $260 million donation has further transformed the once-derelict West Side of Manhattan.

The island was built on the pillars of the former Pier 54, connected to Manhattan by a walkway that will take visitors from the trendy Meatpacking District to the site where survivors of the Titanic were taken and from where the Lusitania departed.

The West Side, once dominated by a bustling port, deteriorated into industrial eyesores and homeless camps before a revitalization this century converted much of it into magnificent parkland.

The latest addition, nicknamed Diller Island, is “eye candy” and “a charmer, with killer views,” according to New York Times architecture critic Michael Kimmelman.

Its 2.7 acres (1.1 hectares) slope up and down, teeming with flora and featuring a 687-seat amphitheater with sunset views. Foot traffic will be regulated to prevent the park from being overrun.

Park visitor Janet Alvarez, a longtime local resident, said she has anticipated Friday’s opening for years. The day was delayed by legal challenges and the pandemic.

“I’m bursting with emotion. And to see people smiling and looking happy and with the mask off. It’s a wonderful day in the neighborhood,” Alvarez said.

The Diller – von Furstenberg Family Foundation of Diller and his wife, the designer Diane von Furstenberg, will pay for maintenance for the park for the next 20 years.

The same foundation donated $20 million to the nearby High Line, a disused elevated railroad converted into a park in the sky. Diller also built his IAC corporate headquarters near the High Line in a building designed by star architect Frank Gehry.

Diana Interview: Lord Hall Resigns From National Gallery

Koko Lawrence
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Diana Interview: Lord Hall Resigns From National Gallery

Ex-BBC director general Lord Hall has resigned as National Gallery chairman amid the outcry after an inquiry into Panorama’s Princess Diana interview.

Lord Hall, who was director of news when Martin Bashir used deception to get the 1995 scoop, said his continued presence would be a “distraction”.

The inquiry described an internal probe led by Lord Hall in 1996 into what happened as “woefully ineffective”.

Diana’s brother Earl Spencer has asked the Met Police to investigate the BBC.

A spokesman for the force would not comment on whether Metropolitan Police Commissioner Cressida Dick had received a letter from Earl Spencer, who has alleged his sister was the victim of blackmail and fraud.

Earlier this week, the Met said it would assess the new report “to ensure there is no significant new evidence”, after previously deciding against a criminal investigation.

The independent inquiry by former senior judge Lord Dyson found Bashir was unreliable and dishonest, and that the corporation fell short of its high standards when answering questions about the interview.

It also found that Bashir seriously breached BBC rules by mocking up faked documents, which he showed to Earl Spencer to obtain the interview.

Since the report was published on Thursday, the Duke of Cambridge has blamed BBC failings for fueling his mother’s paranoia and worsening his parents’ relationship. The Duke of Sussex has also spoken about the hurt caused by the interview.

Oba Of Benin Speaks On Return Of Artefacts Looted By Britain, Others

Koko Lawrence
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Oba Of Benin Speaks On Return Of Artefacts Looted By Britain, Others

The Oba of Benin, Oba Ewuare II, has expressed displeasure that some groups of individuals, using pseudo names, are negotiating the recovery of stolen Benin artworks on behalf of the throne.

The monarch made this known on Friday in his palace in Benin, when Andreas Görgen, the Director-General of the Directorate of Culture and Communications of the German Embassy in Nigeria, led a top German delegation on an assessment tour of the Oba’s palace in Benin.

The Benin traditional ruler frowned at the development, saying that the palace would not fold its hands to see such abominable development take place.

According to the monarch, prestigious Benin artefacts were largely looted from the Oba’s palace during the invasion of 1897 by British and other foreign nations.

He said ‘These artefacts should be returned to the original owner,” insisting that no third party must negotiate or receive the materials on behalf of the Benin kingdom.

Ewuare said that the Benin artworks have deep spiritual, traditional and cultural significance to the kingdom.

He noted that when returned, they would boost tourism sector in the state.

He reiterated that the throne will collaborate with relevant stakeholders, including the Oba Ewaure foundation and the government, in the struggle to recover all the Benin looted artefacts from various countries.

In his response, Görgen told the traditional ruler that the German government acknowledged some objects from Benin in its custody, adding that Berlin is seeking ways with relevant stakeholders, especially with the Oba, on how to return the Benin artworks.

North Korea: Kim Jong-Un Bans Skinny Jeans, Mullet Hairstyle

Koko Lawrence
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North Korea: Kim Jong-Un Bans Skinny Jeans, Mullet Hairstyle

North Korea’s leader Kim Jong-un has banned skinny jeans, as well as mullets and other “non-socialist” haircuts, amid fears of ‘decadent’ Western influences among North Koreans youths.

“History teaches us a crucial lesson that a country can become vulnerable and eventually collapse like a damp wall regardless of its economic and defence power if we do not hold on to our own lifestyle.”

According to the new dictate, North Koreans won’t be allowed to sport skinny jeans, ripped jeans, have nose or ear piercings or wear T-shirts with slogans, the Express reported.

Spikey and dyed hair has also been outlawed in the bizarre crackdown.

Under the new laws, men and women must only have one of the 15 alternative haircuts.

The Express also reported that, Pyongyang officials in North Korea are cracking down on pop music following the success of South Korean K-pop bands such as BTS and Blackpink.

According to Yonhap News Agency, North Korea reenacted a law in December that toughened punishment for people who were in possession of videos that were made in South Korea.

The law was reportedly reenacted in a separate attempt to stop any influences of outside culture on the regime and its people.

Israel To Ease Coronavirus Restrictions June 1

Angel Gimalo
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Israel To Ease Coronavirus Restrictions June 1

Israel is set to ease restrictions imposed to combat coronavirus on June 1, but tough rules on travellers to the Jewish state would remain in place, the health ministry said Sunday.

The health ministry proposal must still be approved by the government.

“For the first time since the outbreak of the epidemic, all restrictions inside Israeli territory will be lifted from June 1,” a ministry statement said.

Restrictions on travellers to Israel will remain in place, with the ministry even considering tightening measures to prevent virus variants entering the country.

During the worst period of the pandemic, Israel recorded around 10,000 new cases of Covid-19 per day, but in the past 24 hours, only 12 people tested positive.

Israel launched a rapid vaccination campaign in December, with more than five million people receiving two doses of the Pfizer/BioNTech jab.

The fall in cases has allowed the authorities to reopen restaurants, bars and sports halls, but only for people with a “green passport”, given to those who have been vaccinated or have recovered from Covid-19.

The new rules will allow the entire population — including unvaccinated people — open access.

Since mid-April, wearing a mask is no longer required in public spaces, but is on public transport and in enclosed places.

The wearing of a mask will initially remain compulsory in enclosed places.

Israel has officially recorded over 839,000 Covid-19 cases, including 6,404 deaths, since the pandemic began.

European Union Leaders Summit To Discuss Tougher Sanctions On Belarus

Angel Gimalo
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European Union Leaders Summit To Discuss Tougher Sanctions On Belarus

European Union leaders will discuss toughening their sanctions regime against Belarus on Monday at their planned summit, after Minsk diverted a passenger flight and arrested an opposition activist.

European Council president Charles Michel said: “I condemn in the strongest possible terms the forced landing of a Ryanair flight in Minsk, Belarus, on 23 May 2021 and the reported detention by Belarusian authorities of journalist Raman Protasevich.

“I call on Belarus authorities to immediately release the detained passenger and to fully guarantee his rights. EU leaders will discuss this unprecedented incident tomorrow during the European Council. The incident will not remain without consequences.”

Brussels decided in February to extend until 28 February 2022 the sanctions imposed on President Alexander Lukashenko and regime insiders involved in the crackdown on protests against Belarus’ 2020 presidential election.

Earlier this month, EU foreign policy chief Josep Borrell warned that these measures could again be tightened, if EU member states could agree, and on Sunday many reacted with fury to Belarus’ decision to divert the jet.

The plane, a Ryanair flight from Greece to Lithuania, has been allowed to continue to Vilnius, but Belarusian opposition activist Roman Protasevich is reported to have been taken off in Minsk and detained.

Monday’s EU summit in Brussels was pre-planned, but Michel’s spokesman Barend Leyts confirmed that the Belarus question would come up and “that possible sanctions will be discussed at this occasion”.

My Party Still Supports Israel, Their Rights Must Be Recognised – Biden

Angel Gimalo
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My Party Still Supports Israel, Their Rights Must Be Recognised – Biden

President Joe Biden said Friday there has been no shift in his commitment to Israel’s security, but insisted a two-state solution that includes a state for Palestinians remains “the only answer” to that conflict.

Biden spoke at a White House news conference on the first full day of a cease-fire after 11 days of Israeli-Hamas fighting that killed well over 200 people, most of them Palestinians in Gaza.

Biden, speaking at the end of a visit by the president of South Korea, also played down the idea that the newly ended fighting had opened a rift among Democrats, as scores of Democrats split with Biden’s “quiet diplomacy” with ally Israel to publicly demand a cease-fire.

“My party still supports Israel,” Biden said. “Let’s get something straight here,” he added. “Until the region says unequivocally they acknowledge the right of Israel to exist as an independent Jewish state, there will be no peace.”

Italian Teen Sets New 50m Breaststroke World Record

Angel Gimalo
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Italian Teen Sets New 50m Breaststroke World Record

Italian teenager Benedetta Pilato set a new world record for the 50m breaststroke in the semi-finals of the European Swimming Championships on Saturday.

The 16-year-old clocked 29.30 seconds to better the previous best of 29.40sec set by American Lilly King in 2017.

Pilato won world silver in the event behind King in Gwangju, South Korea, in 2019.

The 50m breaststroke, unlike backstroke and butterfly over the same distance, is not a race included in the Olympic Games.

Excitement As Power Is Restored In Toungo, Adamawa After 25 Years

Angel Gimalo
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0
Excitement As Power Is Restored In Toungo, Adamawa After 25 Years

There was excitement in Toungo, the home town of a former vice president of Nigeria, Alhaji Atiku Abubakar, over the commissioning of an electricity project by the Governor of Adamawa State, Ahmadu Umaru Fintiri.

Toungo, the headquarters of Toungo Local Government Area located in the Adamawa South Senatorial zone, shares an international boundary with the Republic of Cameroon and had been without electricity since its creation as a local government area 25 years ago.

Fintiri had promised to electrify the local government if elected during his electioneering campaign in 2019 which saw the award and successful execution of the project that was commissioned on Friday.

During the commissioning of the project, a former deputy Governor of the state, Senator Bello Tukur, scored Fintiri’s administration high, rating him among the best performing Governors in the country.

Senator Tukur noted that the Toungo electrification project is now a reality as God had used Fintiri to deliver the area from the neglect of past administrations.

Speaking at the event, Governor Fintiri explained that the commissioning was the first phase which is a 33kv mainline from Ganye Tee Junction to Toungo linked to the YEDC’s main station with 11kv low tension in Gamu with installed transformers and distribution lines.

He reiterated that the second phase is the one from Toungo to Kirri which has already seen ninety per cent poles erections, adding that it would soon be commission.

He attributed the delay in the execution of the project to the initial underrating of the quantum of work required by his administration, coupled with the economic impact of COVID-19.

Speaker of Adamawa State House of Assembly, Alhaji Aminu Iya Abbas, expressed excitements for the electrification project, saying that the state legislature would continue to work in unison with the executive for the betterment of the state.

In his remarks, Chairman Toungo local government council, Kefas Calvin, said the area had been in total blackout for 25 years and lauded the governor for salvaging the people of Toungo.

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