THE year 2024 became a real turning point for Bitcoin. Donald Trump’s election victory and his promises to make the US the “crypto capital” of the world have sent Bitcoin soaring, with several other factors driving the bullish streak.
Bitcoin’s price is primed for new record highs after topping $107,780 in December. It is currently trading at approximately $94,282.07, but under an optimistic scenario, Bitcoin could reach upwards of $120,000 in Q1 2025, crypto experts told Russian media.
Since crypto-friendly Donald Trump’s US presidential election win on 5 November, there has been anticipation of a further favourable environment for Bitcoin. Total assets in Bitcoin exchange traded funds (ETFs) reached around $113 billion in December driven by post-election tailwinds, according to Bloomberg analysis.
The token went on a streak of highs on Trump’s promise to set up a strategic US Bitcoin reserve. Trump’s pick of digital-asset supporter Paul Atkins as his new Securities and Exchange Commission (SEC) chair in early December lifted Bitcoin to $100,000 for the first time.
The token trended higher for most of 2024 after the launch of several US spot Bitcoin ETFs in January. This allowed trading on traditional market exchanges rather than cryptocurrency exchanges. —SPUTNIK

Source: The Global New Light of Myanmar

California's egg prices have continued to rise due to ongoing outbreaks of the highly pathogenic avian influenza (HPAI) or bird flu, according to a latest report from the U.S. Department of Agriculture (USDA).

According to the report released Friday, the benchmark price for a dozen large shell eggs in the Golden State rose 0.78 U.S. dollars to 8.97 dollars, while in Southern California, the whole-sale price for a dozen jumbo eggs averaged 8.91 to 9.10 dollars.

Jumbo eggs are the largest size of chicken eggs as classified by the USDA, followed by extra large, large and medium in levels.

Meanwhile, a weekly report issued by the USDA on Friday concluded that the nationwide egg price "began to show some retreat from recent record-high levels, but the undertone remains firm.

"Recent wholesale price on the New York market for large cartoned shell eggs delivered to retailers rose 0.12 to 6.06 dollars per dozen. The price was 3.13 dollars in October, and 2.13 dollars one year ago.

"The rate of shell egg demand held through the final weeks of 2024 -- despite record-high prices in many retail markets across the nation -- is driven by rising concerns about the limited availability of shell eggs at some grocery stores across the nation," the USDA weekly report said.

The USDA blamed the eggs' surging prices and supply concerns on "persistent and significant outbreaks of the HPAI in commercial table egg layer flocks through December," which have led to the culling of millions of egg-laying hens.

In late December, the Centers for Disease Control and Prevention reported that 128,907,392 wild aquatic birds, commercial poultry, and "backyard or hobbyist flocks" were infected by bird flu in the United States, com-pared to 111,412,626 recorded on December 2. Bird flu infect-ions have been reported in all 50 states of the country.

Xinhua

Source: Myawady Daily Newspaper

US carmaker Tesla’s megafactory in Shanghai has kicked off trial production seven months after its construction started, according to Tesla China on Tuesday. 

The company told Xinhua Tuesday that the factory is dedicated to manufacturing Tesla’s energy-storage batteries, Megapack, whose mass production is expected to fully start in the first quarter of 2025. 

The project, Tesla’s second plant in Shanghai, underscores the US company’s commitment to investing in the world’s second-largest economy, defying the rhetoric of “decoupling” and “de-risking” from China ratcheted up by some American politicians.

The plant construction set a new record of “Tesla speed” in China, as Gigafactory, Tesla’s first plant in the eastern Chinese financial hub, was built and inaugurated within a year in 2019. 

The new factory is built with an initial capacity of producing 10,000 units annually, equal to around 40 GWh of energy storage. Covering an area of ap proximately 200,000 square metres, the new plant represents a total investment of around 1.45 billion yuan (about US$201.7 million), according to the ad ministration of the Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone. — Xinhua

Source: Global New Light of Myanmar

Around $16 billion in remittances were sent to Vietnam this year, roughly the same as last year, according to the government.

The figure, which came from nearly 6 million Vietnamese residing in 130 countries and territories, contributed to many economic, scientific, educational and healthcare activities in Vietnam, Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son said in an interview Thursday.

Last year the $16 billion remittances marked a new record for Vietnam after a period of slow growth due to the impact of Covid-19.

Son said that remittances were among the key factors contributing to the development of Vietnam this year, along with 421 foreign direct invested projects with a combined registered capital of $1.72 billion.

Vietnam will continue to refine its policies and legal framework to foster stronger connections between overseas Vietnamese and their homeland, he said.

Comprehensive and long-term measures will be implemented to support and develop the Vietnamese community abroad, he added.

Efforts are underway to simplify administrative procedures, making it easier for overseas Vietnamese to return to Vietnam to live, invest, and conduct business, he said.

The government is also leveraging information technology to enhance community connectivity and to nurture and develop overseas Vietnamese talent, he added.

The Deputy Prime Minister expressed confidence that overseas Vietnamese communities will continue to maximize their potential, grow stronger, and strengthen ties with the homeland, contributing significantly to the country's development in the coming years.

Economic diplomacy continues to play a pivotal role in Vietnam's overall economic success. The country’s total trade turnover is projected to reach a record $800 billion this year.

Vietnam remains one of the world's leading recipients of foreign direct investment. Additionally, the first 11 months of 2024 saw over 15.8 million international tourists visiting Vietnam, marking a 44% increase compared to the same period in 2023.

Source: VN Express International

CHINA has encouraged four of its pillar industries to open their environmental protection facilities to the public in its latest move towards green development, with similar efforts having yielded positive results.
Pei Xiaofei, spokesperson for the Ministry of Ecology and Environment, told a Tuesday press conference that the ministry has issued guidelines directing the petrochemicals, power, steel and building materials industries to open their environmental protection facilities to the public, either by permitting public visits or offering live video tours.
The ministry’s latest move is expected to do more to stimulate enthusiasm and initiative among the public to protect the environment, and to promote the healthy and orderly development of related industries, Pei said.
Since 2017, the ministry and other relevant authorities have been promoting the opening of four environmental protection facility categories to the public: environmental monitoring, urban wastewater treatment, urban household waste treatment, and hazardous, electrical and electronic waste disposal, Pei said.— Xinhua

Source: The Global New Light of Myanmar

THE World Bank reported that the Israeli war on the Gaza Strip has destroyed approximately 93 per cent of the branches of banks operating in the territory after 15 months of continuous conflict.
In a report distributed in Jerusalem, the World Bank added that the war has also destroyed 88 per cent of microfinance institutions, most money exchange services, and eight per cent of insurance companies. The report noted that only three out of 94 ATMs are currently operational across the Gaza Strip, according to consistent data from the World Bank and the Palestinian Monetary Authority.
The report highlighted that Palestinians in Gaza are struggling to pay for basic goods and services, including food and medicine, while the disruption to the banking system hampers private sector efforts to resume production, create job opportunities, and pay employee salaries. — ANI

Source- The Global New Light of Myanmar

The newly inaugurated Chancay-Shanghai direct shipping route not only strengthens trade ties between Peru and China but also promotes shared growth across Latin America, Asia and beyond. On Wednesday, the air at Shanghai Port was infused with the sweet fragrance of fresh fruit as a vessel from Peru’s Chancay Port docked, delivering a bounty of Peruvian agricultural delights, including grapes, avocados and blueberries. Since the launch of the Chancay Port in November, shipments between the two coastal cities have highlighted a promising future for trade across the Pacific. The direct route is expected to reduce shipping costs by at least 20 per cent, generate US$4.5 billion in yearly revenues for Peru, and create 8,000 direct jobs. The operation of the port, a flagship Belt and Road cooperation project be tween China and Peru, demonstrates the two nation’s commitment to free trade amid rising trade protectionism. Before Chancay Port’s opening, Peru’s exports to China had to pass through other regions. The new port, able to handle large container ships, cuts shipping times to 23 days. — Xinhua

Source: GNLM

YOUNG startup Databricks, which specializes in scaling and building artificial intelligence, said Tuesday it raised $10 billion, bringing the company’s valuation to $62 billion.
The blockbuster funding round is yet another signal of the unrelenting appetite from investors for potential AI stars. Investors listed as taking part in the funding round included tech sector powerhouses Andreessen Horowitz and Thrive Capital.
“This round of financing was heavily oversubscribed, and we are delighted to welcome some of the world’s most renowned investors, who share a deep conviction in our vision,” Databricks co-founder and chief executive Ali Ghodsi said in a release. “We are still in the early stages of the AI Era.” Founded in 2013 by students at the University of California, Berkeley, Databricks runs a cloudbased platform for companies to take advantage of artificial intelligence, including for data management. — AFP

Source- The Global New Light of Myanmar

Over the past three years, the centre has facilitated two business missions to the UAE, where 11 small and medium-sized enterprises held negotiations.
EXPORTERS from Russia’s Leningrad Region may have the opportunity to participate in an international exhibition in the United Arab Emirates next year to present their products, the regional government’s press service said.
“In 2025, the Regional Export Support Centre will continue developing cooperation with the United Arab Emirates. Plans are already underway to visit the country to participate in an international exhibition with a collective booth showcasing the products of exporters from the Leningrad region,” the statement reads.
Over the past three years, the Export Support Center of the Leningrad region organized two business missions for regional companies to the UAE (Dubai and Abu Dhabi in 2022 and 2023), the press service noted. During these missions, 11 small and medium-sized enterprises conducted business negotiations. As a result, two regional companies signed export contracts for the supply of cookies and polyurethane.
Additionally, export-oriented companies utilized the service to find foreign buyers in the UAE. This led to four companies exporting timber, rubber crumb, and confectionery products. — SPUTNIK

Source- The Global New Light of Myanmar

ECONOMISTS have warned that US President-elect Donald Trump’s proposed tariffs could trigger retaliatory measures, leading to significant losses for California’s agriculture industry, The Los Angeles Times reported on Sunday. A recent analysis, published by the University of California’s Giannini Foundation of Agricultural Economics, examined potential scenarios involving tariffs and retaliation.
If a major trade war were to erupt, the report said, California’s agricultural exports could decline by as much as 25 per cent, resulting in annual losses of up to US$6 billion. California’s agricultural sector generates billions of dollars from exporting products such as pistachios, wine, and other goods to countries including China, Mexico, and Canada.
The study also pointed to some of the most vulnerable commodities, including pistachios, dairy products, wine, and almonds, all of which are exported in large quantities to China.
Researchers from the University of California, Davis, and North Dakota State University identified these products as especially at risk in the event of a trade war. “The worst-case scenario is pretty bleak,” Sandro Steinbach, director of North Dakota State University’s Centre for Agricultural Policy and Trade Studies was quoted as saying. “Basically, tariffs are harmful to US agriculture, and to California agriculture in particular, because they will invite tariff retaliation.” — Xinhua

Source- The Global New Light of Myanmar