Facebook's Libra cryptocurrency to launch in January 2021

News Network
November 27, 2020

Facebook's Libra cryptocurrency is readying to launch as early as January, the Financial Times reported on Friday, citing three unidentified people involved in the project. The Geneva-based Libra Association that will issue and govern Libra plans to launch a single digital coin backed by the dollar, the FT said, citing one of the people.

The move would represent an even bigger scaling-back of the project's ambitions than that proposed in April in response to a regulatory and political backlash against the project. Libra, unveiled by Facebook Inc last year, was relaunched in slimmed-down form after regulators and central banks across the world raised concerns it could upset financial stability and erode mainstream power over money.

The Libra Association, of which Facebook is one of 27 members, is seeking the go-ahead from Switzerland's markets watchdog to issue a series of stablecoins backed by individual traditional currencies, as well as a token based on the currency-pegged stablecoins. Yet under the body's new plan, other coins backed by traditional currencies, as well as the composite, would be introduced at a later date, the FT said.

The Libra Association did not immediately reply to a request for comment. FINMA, the Swiss regulator, did not elaborate beyond a statement in April confirming receipt of Libra's application for a payments licence. Stablecoins are designed to avoid the volatility typical of cryptocurrencies such as bitcoin, making them in theory more suitable for payments and money transfers.

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News Network
January 19,2026

New Delhi: Setting speculation to the rest, the CPI(M) has made it clear that it is open to have an electoral understanding with the Congress “to defeat” the Trinamool Congress and the BJP in West Bengal Assembly election even as it is all set to take on the grand old party in Kerala accusing it of “found wanting” in fighting the Hindutva forces.

The CPI(M) also said that it will contest the Tamil Nadu election “with DMK and its allies to defeat the BJP and its allies”, amid a section in the Congress triggering confusion about its participation in the M K Stalin-led coalition over demand over power-sharing and more seats. It is also willing to join hands with Congress and others in Assam and Puducherry to defeat the BJP.

The decisions came at a three-day meeting of the CPI(M) Central Committee in Thiruvananthapuram, which ended on Sunday after reviewing the poll preparations in the poll-bound states.

The CPI(M)'s decision came even as a section led by West Bengal Congress president Subhankar Sarkar is averse to tying up with the Left Front, claiming that their party is not benefitted by the electoral understanding. Both Congress and CPI(M)-led Left Front had electoral understanding in 2016 and 2021 Assembly elections and 2024 Lok Sabha polls.

Congress and the Left Front fought together for the first time in 2016 when Congress won 44 seats and the CPI(M) got 26. In 2021, the Left Front and the Congress drew a blank. In the 2024 Lok Sabha polls, Congress managed to win one seat while the Left did not win any. In the 2019 Lok Sabha polls, both fought against each other with Congress winning two and the Left none.

“In Bengal, the party will work for the defeat of both the TMC and the BJP, which are trying to polarise the society. We will try to rally all the forces that are ready to work against them,” the CPI(M) said in a statement without naming Congress by name. Senior leaders said there is no change in its strategy of pooling all non-BJP, non-TMC votes.

However, the party was critical of the Congress in Kerala where both will fight against each other.

The CPI(M) said it would "expose the BJP-led Union government’s denial of rightful dues to Kerala, the fiscal constraints imposed and the overall attack on federalism" as also "expose the failure of the Congress to effectively counter this attack on federalism, as the largest opposition party in the Parliament".

"The Congress, especially in Kerala, was found wanting in the fight against communal RSS-BJP, ideologically and this will also be exposed before the people," it added.

In Assam, it said, the CPI(M) will work for the mobilisation of all the anti-BJP parties and forces and defeat the rabidly communal and divisive BJP government. The Left parties are cooperating with Congress in the north-eastern state. In Puducherry, it said it will work for the defeat of the BJP alliance government.

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News Network
January 20,2026

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Iranian security and intelligence forces have captured more than 470 individuals in three provinces, identified as key figures behind the recent wave of violent unrest and terrorist activities linked to foreign-backed networks.

The Intelligence Ministry's provincial office in Khorasan Razavi announced on Monday the arrest of 192 armed terrorists, identified as the main agents behind recent riots in the region. 

According to an official statement, the detainees were involved in the killing of several security personnel and civilians, setting fire to mosques, public service facilities, and buses, as well as attacks on military and law enforcement centers.

The seized items from the group include several bulletproof vests, Kalashnikov rifles, hunting weapons, Winchester rifles, and various cold weapons such as daggers, swords, brass knuckles, tactical knives, crossbows, and chains.

Evidence indicates that some of the individuals were tied to hostile movements and terrorist organizations, with links overseas. Others were identified as members of violent criminal gangs, actively taking part in the unrest alongside their associates.

Simultaneously, in the western province of Lorestan, the IRGC announced the arrest of 134 individuals as the main leaders and influential field agents of a US-Israeli terrorist network.

The IRGC statement stated that these individuals formed terrorist cells during the recent unrest, committing "Daesh-like" acts.

They wounded security forces with firearms and cold weapons, and burned and destroyed public and private properties, including mosques, shops, banks, and private and public vehicles.

In the northwestern province of Zanjan, the police reported detaining 150 people identified as principal leaders and agents behind recent riots.

Authorities noted that these individuals were responsible for destroying public and private property and intentionally setting fire to vehicles in the province's squares.

Their crimes include shedding the blood of innocent people, destroying public and private property, attempting to enter military sites, disrupting public order, and spreading terror among citizens.

A variety of cold weapons were reportedly seized from the detainees.

What began late last month as peaceful protests over economic hardship across Iran turned violent after public statements by US and Israeli regime figures encouraged vandalism and disorder.

During the unrest, foreign-backed mercenaries rampaged through cities, killing security forces and civilians and damaging public property.

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News Network
January 20,2026

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KCF, a global socio-cultural organisation of Karnataka expatriates, is actively involved in education, humanitarian initiatives and community well-being across several countries. The awardees were selected following a structured evaluation of nominations by the Annual Council Program Committee, based on the depth, consistency and long-term impact of their social service.

One of the award recipients, Abdul Razak Haji, a prominent UAE-based entrepreneur from the Qamcon Group of Companies, was honoured for his significant contributions to society. Through both his professional journey and personal initiatives, he has supported numerous employees and families, while also extending assistance in education, housing for the underprivileged and various charitable causes, largely carried out quietly over the years. His award was presented earlier during the Annual Council Program held at the KCF Abu Dhabi office.

The second award was conferred on Latheef Kakkinje, a young social worker based in Abu Dhabi, in recognition of his active involvement in community engagement programmes, sports initiatives, talent festivals and family-oriented social activities. His consistent volunteering efforts and commitment to humanitarian causes were highly appreciated by the selection committee.

The award presentation ceremony for Latheef Kakkinje was held at the Zayed Cricket Stadium (Astro Turf Ground) in the presence of Kedumbady Ibrahim Saqafi, President of KCF UAE; Ibrahim, General Secretary; Kabeer Bayambady, President of KCF Abu Dhabi; Ummer Ishwaramangila, General Secretary; along with other members of the KCF Abu Dhabi cabinet.

Congratulating both awardees, KCF leaders reiterated the organisation’s commitment to recognising individuals who selflessly work for social upliftment and community service.

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