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Author: Tan KW   |   Latest post: Thu, 26 May 2022, 11:41 PM


WHO condemns Russia's aggression in Ukraine in rare vote

Author: Tan KW   |  Publish date: Thu, 26 May 2022, 11:41 PM

GENEVA - A World Health Organization assembly on Thursday voted to adopt a Western-led resolution condemning Russia's actions in Ukraine which it says led to a health emergency.

The resolution was approved by 88 votes in favour and 12 against, with 53 abstentions, the meeting's president Hiroki Nakatani said prompting a standing ovation by the resolution's backers.

Typically, the WHO annual assemblies make decisions by consensus. A parallel proposal submitted by Russia which mimics the language of the original one has yet to be voted on by the member states.


  - Reuters


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Explainer: Why is there more fighting in eastern Congo?

Author: Tan KW   |  Publish date: Thu, 26 May 2022, 11:41 PM

 Democratic Republic of Congo's army has been engaged in heavy fighting since the weekend against the M23 rebel group, which is waging its most sustained offensive since a 2012-2013 insurrection that captured vast swathes of territory.

The rebels control positions as close as 20 km (12 miles) to eastern Congo's main city of Goma and briefly took over the main military base in the province, local officials said.

The fighting has forced tens of thousands to flee their homes in a region that has had little respite from conflict ever since neighbours Rwanda and Uganda invaded in 1996, citing threats from local militia groups.


When it formed in 2012, M23 was the newest in a series of ethnic Tutsi-led insurgencies to rise up against Congolese forces.

M23's name refers to the March 23 date of a 2009 accord that ended a previous Tutsi-led revolt in eastern Congo. The M23 accused the authorities of not living up to promises to fully integrate Congolese Tutsis into the army and government.

The M23 and its predecessor groups have claimed to defend Tutsi interests, particularly against ethnic Hutu militias like the Democratic Forces for the Liberation of Rwanda (FDLR).

The FDLR was founded by Hutus who fled Rwanda after participating in the 1994 genocide of more than 800,000 Tutsis and moderate Hutus.


M23 fighters seized vast swathes of the eastern Congo countryside in 2012, routing under-equipped army soldiers. In November, the group briefly captured Goma, a city of 1 million people.

That led to an overhaul of the Congolese army and the deployment of a special Force Intervention Brigade of United Nations peacekeepers, changing the tide of the war.

By late 2013, the Congolese and U.N. forces had chased the remnants of the group into Rwanda and Uganda.

That December, Congo's government and the M23 signed a peace accord. The M23 agreed to transform itself into a political party and Congo promised amnesty for most fighters as part of a disarmament and demobilisation process.


Discontent has been building among the M23's ranks. The group has complained that Congolese authorities have been slow to grant amnesties and propose economic opportunities in Congo to its fighters stuck in Uganda and Rwanda.

Groups of M23 fighters have staged small-scale attacks inside Congo over the past several years.

The M23 says its current military activities are defensive in nature following attacks by the FDLR, which it says is collaborating with the Congolese army. The army has denied working with the FDLR.

M23 spokesman Willy Ngoma said on Thursday that the group was satisfied with its current territorial position but that it could try to seize additional territory, including Goma, if that were "necessary for our defence".


Congo's eastern neighbours, particularly Rwanda and Uganda, have a long history of military intervention inside Congo. The two countries invaded in 1996, and again in 1998, claiming they were defending themselves against local militia groups.

Though the latter of those wars ended with a peace treaty in 2003, Congo's government, U.N. investigators and independent experts have, in the years since, accused Rwanda and Uganda of supporting militias inside Congo, including the M23.

They say the support has been aimed at maintaining geopolitical influence and profiting from extraction of the area's mineral riches.

Both countries have repeatedly denied those charges.

Rwandan President Paul Kagame suggested in February that Rwandan forces might need to intervene in eastern Congo because of the threat from Hutu militiamen.

On Wednesday, Congo accused Rwanda of backing the M23's latest offensive, citing the rebels' heavy firepower as evidence of outside support. Rwanda denied this, calling the fighting an intra-Congolese conflict.


  - Reuters


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Get your crypto house in order, old guard tells Davos debutantes

Author: Tan KW   |  Publish date: Thu, 26 May 2022, 11:38 PM

DAVOS, Switzerland - Cryptocurrency firms, many of which lined the main street in Davos this week, were told they will need to clean up their act before gaining complete acceptance from the World Economic Forum's old guard.

"The future of crypto, I'm sorry to say, looks regulated to me," said Nela Richardson, senior vice president and chief economist for human resources software provider ADP. She said she thinks central banks will step in to provide oversight.

Blockchain and crypto firms blitzed Davos with parties, briefings and panels on the sidelines of the main conference, with the hope of gaining credibility and inking deals with companies ranging from Tyson Foods Inc to Salesforce.com Inc also perched on the main street.

Some of the events outside the security cordon of the main event featured speakers from traditional financial institutions, including Perella Weinberg Partners and State Street.

But, inside the gates, there was a cry for regulation and concerns about risks from the sector, including about it being used illegally by sanctioned Russians.

"Crypto currencies have received a big push from (Russian) sanctions," Saudi finance minister Mohammed al-Jadaan said. "And I'm worried because it could be used for illicit activities."

David Rubenstein, co-founder and co-chairman of U.S. buyout firm Carlyle, shared his concerns.

"A lot of wealthy people who want to hide their assets after the Russian situation will say I will put 5% to 10% in some basket of cryptocurrencies," he said.

"The government won't know what I have, they can't get it and I can always get access to it."


The roles of regulators, authenticators and custodians have come into sharp focus in Davos, which begun after a crypto crash that saw digital assets lose some $800 billion in market value and one of the top ten digital coins become worthless.

"It's still early days (for crypto) in terms of an investment class," Ling Hai, co-president for international markets at Mastercard, told the Reuters Global Markets Forum (GMF). "It needs to be sanctioned and regulated by the central bank and government. It has monetary implications. Value needs to be stable."

However, crypto and financial executives on the sidelines said the rout would strengthen the industry because strong technology and coins would survive it.

"There's been a lot of volatility but the reality is it's here to stay," said Justin Fogerty, managing director and founder at financial consultancy Pivotas AG. "I think what's happened with the volatility, (it) has actually taken a lot of speculators and gamblers out of the market."

Cryptocurrency firms have also attracted new interest at Davos, especially from locations looking for investment.

Vit Jedlick, the President of Liberland, a micronation claiming disputed land between Serbia and Croatia, attended an event for Polkadot in the hope of starting a stronger partnership with the blockchain technology.

The Indian delegation to Davos, which included six state governments, was housed in pavilions surrounded by blockchain and crypto houses, and has been meeting many of them to attract investment, particularly in education and training.

"When you map out where the next generations of developers are and where is the talent and where actually should we go, India pops up very, very high on the map," Marieke Flament, CEO at NEAR Foundation, which backs blockchain projects, told GMF.

Miami Mayor Francis Suarez, in the spotlight over the crash of the city's MiamiCoin, said he was working with the operators to fix glitches.

"I still am taking my salary in bitcoin," Suarez told a WEF panel. "I will note for the record it's not my only salary."


  - Reuters


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電子業網路泡沫來了?美歐緊縮 vs. 中俄寬鬆?《金錢爆搶先看》20220526 #shorts - 楊世光在金錢爆

Author: Tan KW   |  Publish date: Thu, 26 May 2022, 11:34 PM

電子業網路泡沫來了?美歐緊縮 vs. 中俄寬鬆?《金錢爆搶先看》20220526 #shorts


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半導體爆雷?庫存如山?美耐久財訂單急剎車 20220526《楊世光在金錢爆》第2872集 - 楊世光在金錢爆

Author: Tan KW   |  Publish date: Thu, 26 May 2022, 11:34 PM

半導體爆雷?庫存如山?美耐久財訂單急剎車 20220526《楊世光在金錢爆》第2872集


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熱錢收股市崩?拜登訪三星引爆科技戰?操作指數或ETF需保守?《我是金錢爆》普通錠 2022.0526 - 我是金錢爆

Author: Tan KW   |  Publish date: Thu, 26 May 2022, 11:34 PM

熱錢收股市崩?拜登訪三星引爆科技戰?操作指數或ETF需保守?《我是金錢爆》普通錠 2022.0526


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