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World Today: Summary of Today’s News

Top White House officials have expressed their support for a bill that would give President Joe Biden the authority to ban the Chinese social media app, TikTok, due to security concerns. This move could expedite the bill’s passage through Congress.

Russian World Bank Executive Director, Roman Marshavin, stated that Russia and its allies are discussing the appointment of a Russian official to the World Bank presidency, which could challenge the United States and complicate the expected transition process.

China has extended its power to key ministries, with plans to establish a new office to manage critical information, in what is considered a significant overhaul of the country’s technology sector. The Xi Jinping administration is engaged in a battle with the US across several sectors, including artificial intelligence and semiconductor chips.

Telecommunications and technology executives have revealed that 6G service is likely to be launched in 2030, with 6G being the next generation of Wi-Fi service after 5G.

The European-Mediterranean Earthquake Observatory reported that a magnitude 5.4 earthquake struck off the coast of Indonesia on March 8.

According to US officials, intelligence suggests that a pro-Ukrainian group led the sabotage of the Nord Stream gas pipeline, which transports gas from Russia to Europe, in September years ago. However, there was no evidence that the Ukrainian government was involved.

UN Secretary-General Antonio Guterres is set to meet with Ukrainian President Volodymyr Zelensky in Kiev on March 8.

The US State Department announced that spokesman Ned Price will step down this month after over two years of leading press conferences.

The White House confirmed that the government will not interfere with the Federal Reserve’s approach to managing inflation, despite concerns raised by Fed Chairman Jerome Powell about the need for a stronger-than-expected rate hike due to strong labor data.

Meta Platform accidentally leaked LLaMA, a Large Language Model recently announced to the public, according to Vice News.

The European Commission is proposing that EU governments set their own budget deficit reduction targets for 2024 to encourage member states to reduce their debts and improve their balance sheets.

South Korea is canceling COVID-19 testing measures for travelers from China, Hong Kong, and Macau, starting March 11.

Shares in Singapore-based Shopee-owned Sea Limited rose by 21.78% on the New York Stock Exchange after the company reported its first net profit since its inception in 2009.

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