Iran, pressured by power blackouts and pollution, targets Bitcoin

Iran, pressured by power blackouts  and pollution, targets Bitcoin
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Updated 23 January 2021

Iran, pressured by power blackouts and pollution, targets Bitcoin

Iran, pressured by power blackouts  and pollution, targets Bitcoin
  • The government launched a crackdown on Bitcoin processing centers, which require immense amounts of electricity to power their specialized computers — a burden on Iran’s power grid

Iran’s capital and major cities plunged into darkness in recent weeks as rolling outages left millions without electricity for hours. Traffic lights died. Offices went dark. Online classes stopped.
With toxic smog blanketing Tehran skies and the country buckling under the pandemic and other mounting crises, social media has been rife with speculation. Soon, fingers pointed at an unlikely culprit: Bitcoin.
Within days, as frustration spread among residents, the government launched a wide-ranging crackdown on Bitcoin processing centers, which require immense amounts of electricity to power their specialized computers and to keep them cool — a burden on Iran’s power grid.
Authorities shuttered 1,600 centers across the country, including, for the first time, those legally authorized to operate. As the latest in a series of conflicting government moves, the clampdown stirred confusion in the crypto industry — and suspicion that Bitcoin had become a useful scapegoat for the nation’s deeper-rooted problems.
Since the US unilaterally withdrew in 2018 from Tehran’s nuclear accord with world powers and re-imposed sanctions on Iran, cryptocurrency has surged in popularity in the Islamic Republic.
For Iran, anonymous online transactions made in cryptocurrencies allow individuals and companies to bypass banking sanctions that have crippled the economy. Bitcoin offers an alternative to cash printed by sovereign governments and central banks — and in the case of Iran and other countries under sanctions like Venezuela, a more stable place to park money than the local currency.
“Iranians understand the value of such a borderless network much more than others because we can’t access any kind of global payment networks,” said Ziya Sadr, a Tehran-based Bitcoin expert. “Bitcoin shines here.”
Iran’s generously subsidized electricity has put the country on the crypto-mining map, given the operation’s enormous electricity consumption. Electricity goes for around 4 cents per kilowatt-hour in Iran, compared to an average of 13 cents in the United States.
Iran is among the top 10 countries with the most Bitcoin mining capacity in the world — 450 megawatts a day. The US network has a daily capacity of more than 1,100 megawatts.
On Tehran’s outskirts and across Iran’s south and northwest, windowless warehouses hum with heavy industrial machinery and rows of computers that crunch highly complex algorithms to verify transactions. The transactions, called blocks, are then added to a public record, known as the blockchain.
Iran’s government has sent mixed messages about Bitcoin. On one hand, it wants to capitalize on the soaring popularity of digital currency and sees value in legitimizing transactions that fly under Washington’s radar. It authorized 24 Bitcoin processing centers that consume an estimated 300 megawatts of energy a day.
On the other hand, the government worries about limiting how much money is sent abroad
and controlling money laundering, drug sales and internet criminal groups.


Egypt announces first fully vaccinated governorate

Egypt announces first fully vaccinated governorate
Updated 43 sec ago

Egypt announces first fully vaccinated governorate

Egypt announces first fully vaccinated governorate
  • South Sinai is the governorate with the fewest COVID-19 cases and deaths, as well as the highest recovery and vaccination rate among people aged 18 and over
  • South Sinai, where the town of Sharm El-Sheikh is located, is one of the most famous tourist governorates in Egypt

CAIRO: Officials in South Sinai have announced that it has become the first governorate in Egypt whose eligible population is fully vaccinated against COVID-19. 

According to health sources, it is the governorate with the fewest COVID-19 cases and deaths, as well as the highest recovery and vaccination rate among people aged 18 and over — the allowed age for inoculation. 

South Sinai, where the town of Sharm El-Sheikh is located, is one of the most famous tourist governorates in Egypt. It also includes famous religious sites such as Mount El-Tur and St. Catherine’s Monastery.

Maj. Gen. Khaled Fouda, governor of South Sinai, said there have only been 81 deaths from COVID-19 there since the start of the pandemic — the lowest rate among Egypt’s governorates. 

He added that South Sinai recorded only one case on Sunday night after recording no cases for two weeks in a row, bringing the total number of cases to 1,371 since the start of the pandemic, with only 29 hospitalizations. 


10,000 children killed or maimed in Yemen since 2015: UNICEF

10,000 children killed or maimed in Yemen since 2015: UNICEF
Updated 19 October 2021

10,000 children killed or maimed in Yemen since 2015: UNICEF

10,000 children killed or maimed in Yemen since 2015: UNICEF
  • Four out of every five children need humanitarian assistance in Yemen

GENEVA: Ten thousand Yemeni children have been killed after the Iran-aligned Houthi group ousted the government in 2015, the United Nations children’s agency UNICEF said on Tuesday.
“The Yemen conflict has just hit another shameful milestone. We now have 10,000 children who have been killed or maimed since ... March 2015,” UNICEF spokesperson James Elder told a UN briefing in Geneva after returning from a visit to Yemen.
“That is the equivalent of four children every single day,” Elder said, adding that many more child deaths or injuries went unreported.
Four out of every five children — a total of 11 million — need humanitarian assistance in Yemen, while 400,000 are suffering from acute malnutrition and more than 2 million are out of school, Elder said.
UN-led efforts to engineer a nationwide cease-fire have stalled as the Houthis resist compromise to end more than six years of a war that has caused what the UN calls the world’s largest humanitarian crisis.
Hundreds of Yemenis are trapped by fierce fighting between government and Houthi forces in the northern Marib governorate, residents and a local official said last week, after battles for control of the gas-rich region displaced some 10,000 people.


Qatar forms climate change ministry, appoints finance minister

Qatar forms climate change ministry, appoints finance minister
Updated 19 October 2021

Qatar forms climate change ministry, appoints finance minister

Qatar forms climate change ministry, appoints finance minister

DUBAI: Qatari Emir Tamim bin Hamad al-Thani has appointed Ali Bin Ahmad Al-Kuwari as finance minister in a government reshuffle, according to a statement issued by the emiri court on Tuesday.

Al-Kuwari had been serving as commerce and industry minister and as acting finance minister before the reshuffle.

Qatar's emir created an environment and climate change ministry on Tuesday, naming Faleh bin Nasser al-Thani as its minister. 

Two women were handed cabinet posts for education and social development. They join Health Minister Hanan Mohamed Al Kuwari, who had been the only woman in the cabinet.

 

(with Reuters)


Egypt aviation sector sees jump in flights, passengers, cargo

Egypt aviation sector sees jump in flights, passengers, cargo
Updated 19 October 2021

Egypt aviation sector sees jump in flights, passengers, cargo

Egypt aviation sector sees jump in flights, passengers, cargo
  • There were 2.1 million aircraft passengers in July

CAIRO: There were 18,500 flights into and out of Egypt in July compared to 6,500 in the same month last year, an increase of 185 percent, according to the country’s Central Agency for Public Mobilization and Statistics.

In June there were some 14,000 flights, compared to 500 in the same month last year.

There were 2.1 million aircraft passengers in July, more than quadruple the 500,000 passengers in the same month last year.

In June there were 1.6 million passengers, compared to 300,000 in the same month last year.

There were 19,200 tons of cargo transported by plane in July compared to 16,700 in the same month last year, an increase of 13 percent.

In June 21,300 tons were transported compared to 16,100 in the same month last year, an increase of 32 percent.


Lebanese parliament confirms March polls amid efforts to secure IMF rescue

Lebanese parliament confirms March polls amid efforts to secure IMF rescue
Updated 19 October 2021

Lebanese parliament confirms March polls amid efforts to secure IMF rescue

Lebanese parliament confirms March polls amid efforts to secure IMF rescue

CAIRO: Lebanon's parliament voted on Tuesday to hold legislative elections on March 27, parliamentary sources said, giving Prime Minister Najib Mikati's government only a few months to try to secure an IMF recovery plan amid a deepening economic meltdown.
Lebanon's financial crisis, labelled by the World Bank as one of the deepest depressions of modern history, had been compounded by political deadlock for over a year before Mikati put together a cabinet alongside President Michel Aoun.
The currency has lost 90% of its value and three quarters of the population have been propelled into poverty. Shortages of basic goods such as fuel and medicines have made daily life a struggle.
Mikati, whose cabinet is focused on reviving talks with the International Monetary Fund, had vowed to make sure elections are held with no delay and Western governments urged the same.
But a row over the probe into last year's Beirut port blast that killed over 200 people and destroyed large swathes of the capital is threatening to veer his cabinet off course.
Some ministers, aligned with politicians that lead investigator Judge Tarek Bitar is seeking to question over the explosion, last week demanded that the judge be removed from the probe.
Mikati has since said the cabinet will not convene another meeting until an agreement is reached on how to deal with the matter.
On Thursday, Beirut witnessed the worst street violence in over a decade with seven people killed in gunfire when protesters from the Hezbollah and Amal Shi'ite movements made their way to demonstrate against Judge Bitar.
The bloodshed, which stirred memories of the 1975-1990 civil war, added to fears for the stability of a country that is awash with weapons.
The early election date - elections were originally expected to be held in May - was chosen in order not to clash with the holy Islamic fasting month of Ramadan.
Once a new parliament is elected, the Mikati cabinet will only act in a caretaker role until a new prime minister is given a vote of confidence and tasked with forming a new government.