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On January 8th, it was reported that Colombian President Petro Perez and US President Donald Trump spoke by phone on January 7th local time. The Colombian Foreign Ministry confirmed that the call lasted approximately 15 minutes.On January 8th, the National Healthcare Security Administration issued a notice on vigorously promoting convenient payment methods such as facial recognition payment, one-code payment, mobile payment, and credit payment, addressing pain points and bottlenecks related to medical treatment and payment. The notice aims to accelerate the implementation of these methods in various medical scenarios and strive to fully establish a convenient medical insurance payment system within approximately three years. According to the notice, the first batch of pilot cities should include at least two cities in each province. Each province must ensure that the first batch of pilot areas and designated medical institutions are effectively implemented by 2026, achieve basic full coverage of all coordinated areas within the province by 2027, and fully implement the system in all eligible designated medical institutions within the province by 2028.Japans overtime pay rose 1.2% year-on-year in November, up from 1.5% in the previous month.Japans November labor cash income rose 0.5% year-on-year, below the expected 2.30% and the previous figure revised from 2.60% to 2.50%.January 8th - According to reports on January 7th local time, European natural gas inventories have fallen to their lowest level since the outbreak of the Russia-Ukraine conflict. Current inventories are far below the five-year average, less than 60%, and the EU may face the risk of a natural gas shortage. According to data from the European Gas Infrastructure Association (GLE), as of January 4th, the storage capacity of underground natural gas storage facilities in Europe was only 59.9%. This level typically only occurs at the end of January in previous winters and is about 13% lower than the average for early January over the past five years. Gazprom warned that the EU may face a natural gas shortage due to the abnormally rapid decline in natural gas reserves in underground storage facilities this heating season.

Davos 2023: Cowed crypto crowd feel winter freeze at WEF

Florala Chen

Jan 20, 2023 11:39

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In the snow and ice on the main drag in Davos, the impact of the crypto winter is plain for WEF attendees to see.


Last May, the dressed-up shop fronts that line both sides of the Promenade street running through the Swiss ski resort were dominated by crypto firms, rolling in bitcoin.


Now there are just a handful and the executives who have made it to Davos have swapped their hoodies for blazers, despite sub-zero temperatures outside.


Some of those from the digital industry which have set up shop on the fringes of the World Economic Forum (WEF) annual meeting were quick to distance themselves from cryptocurrencies.


“I hope there’s an increased focus on utility value and practical applications of the technology, and less focus on retail investors chasing meme coins,” Jeremy Allaire, CEO of USDC stablecoin issuer Circle, said.


“There was a lot of nonsense,” Allaire told the Reuters Global Markets Forum.


Former Reserve Bank of India Governor Raghuram Rajan believes last year’s plunge in digital assets allows investors to focus on the true value of the technology.


“We’re at the right place now in terms of crypto,” he said.


Executives in Davos said they are now all about blockchain technology, proper controls and regulation, and the promise of disruption that it holds for financial services and beyond.


“We are an infrastructure, plumbing play. We build infrastructure today for digital assets, which is crypto. Tomorrow it will be different assets,” said Dmitry Tokarev, chief executive of Copper, which provides custody services.


“I would question some of the stuff that I saw, ‘What is the return on that?'” Tokarev added, referring to the big presence of crypto companies at the last WEF meeting, which was unusually held in May as a result of the COVID-19 pandemic.


“We have been always ignoring the noise. All our partners were here last year. They are here this year,” Tokarev added.


The world of digital assets has changed drastically since May, with the value of the crypto market plummeting and some of the major crypto companies going under as investors pulled back from riskier assets in the face of rising interest rates.


The market capitalization of crypto currencies has shrunk by $1.4 trillion, a third of its value from peaks hit in late 2021 and some of the best-known crypto firms are under stress or have gone under, including the collapse of crypto exchange FTX.


“There is a place for trading use cases but they cannot be the singular focus, we need to move to more real use cases and put attention there,” said Denelle Dixon, CEO of Stellar Development Foundation, which supports the Stellar blockchain.


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