Bitcoin briefly hits $5,000 after 20% surge

Bitcoin rose as much as 20 percent in Asian trading to briefly touch the $5,000 mark, the biggest one-day gain since April of last year. (Reuters)
Updated 02 April 2019

Bitcoin briefly hits $5,000 after 20% surge

  • Bitcoin rose as much as 20 percent in Asian trading to briefly touch the $5,000 mark
  • It is the biggest one-day gain since April of last year

LONDON: Bitcoin briefly touched $5,000 on Tuesday, its highest level since late November, while other cryptocurrencies also surged.
On the Luxembourg-based Bitstamp exchange, Bitcoin rose as much as 20 percent in Asian trading to briefly touch the $5,000 mark before settling at $4,730 by 0700 GMT, up 14 percent on the day; still its biggest one-day gain since April of last year.
Ethereum’s ether and Ripple’s XRP, two other large cryptocurrencies, also jumped higher.
It was not immediately clear what was behind the rally in virtual currency prices.


Kuwait Airways to cut 1,500 jobs due to coronavirus

Updated 28 May 2020

Kuwait Airways to cut 1,500 jobs due to coronavirus

KUWAIT: Kuwait Airways will lay off 1,500 foreign employees due to the impact on its business by the coronavirus pandemic, the state-owned airline said on Thursday.
The job cuts will affect non-Kuwaiti employees and be across the airline, it said in a tweet, without disclosing which departments the lay-offs would come for.
Kuwaiti newspaper Al-Qabas earlier reported the airline was cutting 25% of its 6,000 workforce, though employees holding Kuwaiti or Gulf citizenship would not be laid off.
The newspaper also said employees married to Kuwaitis would be safe from the job cuts.