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World Today: Today’s News Summary

Nvidia Sets Record High Ahead of Q3 Results Announcement

Nvidia, a prominent US chipmaker, experienced a surge in stock prices, closing up 2.3% and reaching a historic peak in trading on the New York Stock Exchange yesterday (Nov. 20). The spike occurred just before the company was set to disclose its operating results for the third quarter of 2023 today (Nov. 21).

Progress in Israel-Hamas Hostage Release Talks Amid Ongoing Conflict

The United States has indicated progress in negotiations between Israel and Hamas regarding the release of hostages held in the Gaza Strip. Despite this development, the Israeli army’s intense offensive in Gaza City persists, accompanied by continued missile fire into Israel.

Formerly Twitter, Company X, Files Lawsuit Against Media Organization

Company X, previously known as Twitter, has initiated legal action against Media Matters for America, a non-profit media entity. Allegations include damaging Company X’s reputation through the publication of a report associating major brands like Apple, Bravo, Oracle, Xfinity, Comcast, and IBM with posts supporting Hitler and the Nazi Party on the platform.

Citigroup Inc. to Cut 300+ Senior Manager Roles

Citigroup Inc. plans to eliminate over 300 senior managerial positions as part of CEO Jane Fraser’s strategy to streamline operations and reduce redundancies within the organization.

Environmental Concerns: US Coast Guard Searches for Gulf Oil Spill

The US Coast Guard has launched a search for an oil spill originating from an underwater pipeline off the coast of Louisiana in the Gulf of Mexico. An estimated 1 million gallons of crude oil have been released, raising significant environmental concerns.

Volcanic Eruption in Papua New Guinea Prompts Evacuations

Residents of New Britain in Papua New Guinea are preparing to evacuate following a volcanic eruption at Mount Ulawan. The eruption spewed substantial amounts of ash into the atmosphere, resulting in flight cancellations.

Prospects for Tesla in India, TSMC’s Expansion Plans in Japan

Reports suggest that India is nearing an agreement with Tesla Inc. to allow the sale of electric vehicles in the country next year. Meanwhile, semiconductor giant TSMC is considering constructing a cutting-edge chip manufacturing plant in Japan, aiming to establish the country as a significant global chipmaking hub.

Economic Updates: Thailand’s GDP Falls Below Expectations

Thailand’s third-quarter 2023 gross domestic product (GDP) expanded only by 1.5% year-on-year, falling short of analyst expectations of a 2.4% growth and lower than the second-quarter’s 1.8% GDP growth.

Natural Events: Earthquake Hits Indonesian Province

The United States Geological Survey (USGS) reported a 5.3 magnitude earthquake striking approximately 69 kilometers north-northwest of the village of Insrom in Indonesia’s Papua province at 2:12 p.m. local time (21 Nov.).

Philippine Treasury Explores Digital Currency for Government Securities

The Philippine Treasury Department expresses interest in collaborating with the Central Bank of the Philippines (BSP) to expand the use of digital currencies for government securities transactions. The agency is also exploring the potential benefits of blockchain technology.

DMZ Tours in South Korea to Resume Service

South Korea announces the resumption of tours to the Demilitarized Zone (DMZ) separating North and South Korea. The tours, open to select visitors, mark the first reopening of tourism activities following a suspension due to an incident involving US soldiers crossing the border four months ago.

Sri Lanka’s Plans for Free Trade Agreement with Thailand

Mr. Bandula Gunawardene, Cabinet Spokesperson and Minister of Transport of Sri Lanka, revealed plans to conclude negotiations on a Free Trade Agreement (FTA) with Thailand in December. The agreement is slated for signing on February 3, 2024.

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