Republican senators have&nbsp;introduced a legislation&nbsp;to end China's access to 10-year multi-entry visas until it is certified that Beijing has ceased its campaign of economic and industrial espionage against the US.

The legislation, Visa Security Act, was introduced by Senators Marsha Blackburn, Tom Cotton, Rick Scott, Ted Cruz, and Marco Rubio on Friday. It would prohibit Chinese nationals from receiving 10-year B-1/B-2 visas until the Secretary of State certifies that China has ceased its campaign of economic and industrial espionage against the United States and ended its provocative and coercive behaviour towards Taiwan.

Also read:&nbsp;<a href="https://www.wionews.com/world/joe-bidens-cia-pick-stresses-china-threat-366023" hreflang="en">Joe Biden's CIA pick stresses China threat</a>

The B-1/B-2 visas are issued to those who come to the US for business, visit or tourism purposes.

Under this legislation, Chinese citizens would be eligible for one-year multi-entry visas. This policy would represent a return to the pre-2014 visa status quo and does not apply to Taiwan or certain residents of Hong Kong.

It also seeks certification from the Secretary of State that China has withdrawn its national security law with respect to Hong Kong and fully upheld its commitments under the Sino-British Joint Declaration of 1984; ended its systematic oppression of Uighurs, Tibetans, and other ethnic groups; retracted its unlawful claims in the South China Sea; and released foreign hostages and wrongfully detained individuals in China.

The relations between China and the US are at an all-time low. The two countries are currently involved in a bitter confrontation over various issues, including trade, the origins of the novel coronavirus pandemic, the communist giant's aggressive military moves in the disputed South China Sea and human rights.

China is engaged in hotly contested territorial disputes in the South and East China Seas. Beijing has also made substantial progress in militarising its man-made islands in the past few years. The South China Sea is rich in minerals, oil and other natural resources.

Beijing claims sovereignty over all of the South China Sea. But Vietnam, Malaysia, the Philippines, Brunei and Taiwan have counterclaims. The Chinese Government sees Taiwan as a rebel province that will eventually be part of the country again.

Until the Chinese Communist Party (CCP) ends its systematic violations of human rights and religious freedom, the United States cannot remain complicit by offering 10-year multi-entry visas to Chinese nationals.&nbsp;

The Visa Security Act will stop the revolving door the CCP has used for half a decade and instead demand accountability in the global human rights effort, Senator Blackburn said.

''Since 2014, the Chinese Communist Party has had access to 10-year business and tourist visas, which allow Chinese citizens to enter and exit the United States as they please. In issuing these visas, the US has welcomed the CCP, its intelligence agencies, and those they have co-opted with open arms. This was a bad decision in 2014 and it's time we fixed this error,'' said Cotton.

"We know Communist China will stop at nothing to steal American technology and intellectual property in an attempt to dominate the world.&nbsp;

''China poses the single greatest geopolitical threat to the United States. The Chinese Communist Party engages in propaganda and censorship to control what Americans see, hear, and ultimately think about China. It's long past time to end the Chinese Communist Party's abuse of our visa system. This bill counters China's aggression and advances American security,'' said Senator Ted Cruz.

''It is long overdue for the United States to fully address the imbalances in our relationship with China and stop the Chinese Communist Party from exploiting our programmes and openness,'' Rubio said.

''Terminating China's access to 10-year multi-entry visas is a logical step in overturning bad policy by the Obama Administration. China should not be given special treatment that is out of step with our relationship, the abuses they are committing, and its malign activities in the US,'' he said.

Republican senators have introduced a legislation to end China's access to 10-year multi-entry visas until it is certified that Beijing has ceased its campaign of economic and industrial espionage against the US.

Republican senators have introduced a legislation to end China's access to 10-year multi-entry visas until it is certified that Beijing has ceased its campaign of economic and industrial espionage against the US. The legislation, Visa Security Act, was introduced by Senators Marsha Blackburn, Tom Cotton, Rick Scott, Ted Cruz, and Marco Rubio on Friday. It would prohibit Chinese nationals from receiving 10-year B-1/B-2 visas until the Secretary of State certifies that China has ceased its campaign of economic and industrial espionage against the United States and ended its provocative and coercive behaviour towards Taiwan. Also read: Joe Biden's CIA pick stresses China threat The B-1/B-2 visas are issued to those who come to the US for business, visit or tourism purposes. Under this legislation, Chinese citizens would be eligible for one-year multi-entry visas. This policy would represent a return to the pre-2014 visa status quo and does not apply to Taiwan or certain residents of Hong Kong. It also seeks certification from the Secretary of State that China has withdrawn its national security law with respect to Hong Kong and fully upheld its commitments under the Sino-British Joint Declaration of 1984; ended its systematic oppression of Uighurs, Tibetans, and other ethnic groups; retracted its unlawful claims in the South China Sea; and released foreign hostages and wrongfully detained individuals in China. The relations between China and the US are at an all-time low. The two countries are currently involved in a bitter confrontation over various issues, including trade, the origins of the novel coronavirus pandemic, the communist giant's aggressive military moves in the disputed South China Sea and human rights. China is engaged in hotly contested territorial disputes in the South and East China Seas. Beijing has also made substantial progress in militarising its man-made islands in the past few years. The South China Sea is rich in minerals, oil and other natural resources. Beijing claims sovereignty over all of the South China Sea. But Vietnam, Malaysia, the Philippines, Brunei and Taiwan have counterclaims. The Chinese Government sees Taiwan as a rebel province that will eventually be part of the country again. Until the Chinese Communist Party (CCP) ends its systematic violations of human rights and religious freedom, the United States cannot remain complicit by offering 10-year multi-entry visas to Chinese nationals. The Visa Security Act will stop the revolving door the CCP has used for half a decade and instead demand accountability in the global human rights effort, Senator Blackburn said. ''Since 2014, the Chinese Communist Party has had access to 10-year business and tourist visas, which allow Chinese citizens to enter and exit the United States as they please. In issuing these visas, the US has welcomed the CCP, its intelligence agencies, and those they have co-opted with open arms. This was a bad decision in 2014 and it's time we fixed this error,'' said Cotton. "We know Communist China will stop at nothing to steal American technology and intellectual property in an attempt to dominate the world. ''China poses the single greatest geopolitical threat to the United States. The Chinese Communist Party engages in propaganda and censorship to control what Americans see, hear, and ultimately think about China. It's long past time to end the Chinese Communist Party's abuse of our visa system. This bill counters China's aggression and advances American security,'' said Senator Ted Cruz. ''It is long overdue for the United States to fully address the imbalances in our relationship with China and stop the Chinese Communist Party from exploiting our programmes and openness,'' Rubio said. ''Terminating China's access to 10-year multi-entry visas is a logical step in overturning bad policy by the Obama Administration. China should not be given special treatment that is out of step with our relationship, the abuses they are committing, and its malign activities in the US,'' he said.

US senators introduce legislation to end China's access to multiple year visa

Researchers have now sequenced 64 human genomes at high resolution in a new&nbsp;study.

This reference data includes individuals from all over the world to better capture the genetic diversity of the human species. 
 
Among other applications, the Human Genome Project, published in the journal Science, enables population-specific studies on genetic predispositions to human diseases as well as the discovery of more complex forms of genetic variation. 
 
In 2001, the International Human Genome Sequencing Consortium announced the first draft of the human genome reference sequence. 
 
The Human Genome Project, as it was called, had taken more than 11 years of work and involved more than 1,000 scientists from 40 countries. 
 
This reference, however, did not represent a single individual but instead was a composite of humans, and that approach could not accurately capture the complexity of human genetic variation. 
 
Researchers published the new, considerably more comprehensive reference dataset obtained using a combination of advanced sequencing and mapping technologies. 
 
The new reference dataset reflects 64 assembled human genomes, representing 25 different human populations from across the globe. 
 
Importantly, each of the genomes was assembled without guidance from the first human genome and as a result better captures genetic differences from different human populations, said the study. 
 
The study was led by scientists from the European Molecular Biology Laboratory Heidelberg (EMBL), the Heinrich Heine University Dusseldorf (HHU) in Germany, The Jackson Laboratory for Genomic Medicine in Farmington, Connecticut (JAX), and the University of Washington in Seattle (UW). 
 
"With these new reference data, genetic differences can be studied with unprecedented accuracy against the background of global genetic variation, which facilitates the biomedical evaluation of genetic variants carried by an individual," said co-author of the study, Peter Ebert from the Institute of Medical Biometry and Bioinformatics at HHU. 
 
The distribution of genetic variants can differ substantially between population groups as a result of spontaneous and continuously occurring changes in the genetic material. 
 
If such a mutation is passed on over many generations, it can become a genetic variant specific to that population. 
 
The new reference data provide an important basis for including the full spectrum of genetic variants in so-called genome-wide association studies. 
 
The aim is to estimate the individual risk of developing certain diseases such as cancer and to understand the underlying molecular mechanisms, said the study. 
 
This, in turn, can be used as a basis for more targeted therapies and preventative medicine. 
 
Thus, this work might enable further applications in precision medicine. 
 
Drug efficacy, for example, can vary between individuals based on their genomes. The new reference data now represent the full range of different genetic variant types and incorporates human genomes of great diversity. 
 
Therefore, this new resource might contribute to developing novel approaches in personalised medicine, where the selection of therapies is tailored to a patient`s individual genetic background. 
 
This study builds on a new method published by these researchers last year in Nature Biotechnology to accurately reconstruct the two components of a person`s genome - one inherited from a person`s father, one from a person`s mother. 
 
When assembling a person`s genome, this method eliminates the potential biases that could result from comparisons with an imperfect reference genome.

Researchers have now sequenced 64 human genomes at high resolution in a new study. This reference data includes individuals from all over the world to better capture the genetic diversity of the human species.

Researchers have now sequenced 64 human genomes at high resolution in a new study. This reference data includes individuals from all over the world to better capture the genetic diversity of the human species. Among other applications, the Human Genome Project, published in the journal Science, enables population-specific studies on genetic predispositions to human diseases as well as the discovery of more complex forms of genetic variation. In 2001, the International Human Genome Sequencing Consortium announced the first draft of the human genome reference sequence. The Human Genome Project, as it was called, had taken more than 11 years of work and involved more than 1,000 scientists from 40 countries. This reference, however, did not represent a single individual but instead was a composite of humans, and that approach could not accurately capture the complexity of human genetic variation. Researchers published the new, considerably more comprehensive reference dataset obtained using a combination of advanced sequencing and mapping technologies. The new reference dataset reflects 64 assembled human genomes, representing 25 different human populations from across the globe. Importantly, each of the genomes was assembled without guidance from the first human genome and as a result better captures genetic differences from different human populations, said the study. The study was led by scientists from the European Molecular Biology Laboratory Heidelberg (EMBL), the Heinrich Heine University Dusseldorf (HHU) in Germany, The Jackson Laboratory for Genomic Medicine in Farmington, Connecticut (JAX), and the University of Washington in Seattle (UW). "With these new reference data, genetic differences can be studied with unprecedented accuracy against the background of global genetic variation, which facilitates the biomedical evaluation of genetic variants carried by an individual," said co-author of the study, Peter Ebert from the Institute of Medical Biometry and Bioinformatics at HHU. The distribution of genetic variants can differ substantially between population groups as a result of spontaneous and continuously occurring changes in the genetic material. If such a mutation is passed on over many generations, it can become a genetic variant specific to that population. The new reference data provide an important basis for including the full spectrum of genetic variants in so-called genome-wide association studies. The aim is to estimate the individual risk of developing certain diseases such as cancer and to understand the underlying molecular mechanisms, said the study. This, in turn, can be used as a basis for more targeted therapies and preventative medicine. Thus, this work might enable further applications in precision medicine. Drug efficacy, for example, can vary between individuals based on their genomes. The new reference data now represent the full range of different genetic variant types and incorporates human genomes of great diversity. Therefore, this new resource might contribute to developing novel approaches in personalised medicine, where the selection of therapies is tailored to a patient`s individual genetic background. This study builds on a new method published by these researchers last year in Nature Biotechnology to accurately reconstruct the two components of a person`s genome - one inherited from a person`s father, one from a person`s mother. When assembling a person`s genome, this method eliminates the potential biases that could result from comparisons with an imperfect reference genome.

Researchers sequence 64 human genomes at high resolution

Canadian regulators on Friday authorised its third coronavirus vaccine, AstraZeneca, for all adults.

''This is very encouraging news. It means more people vaccinated, and sooner," Prime Minister Justin Trudeau said, adding that the nation of 38 million people will now get 6.5 million vaccines in total before the end of March, 500,000 more now with the new approval.

Health Canada approved the AstraZeneca vaccine for use in people 18 and over, expressing confidence it would work for the elderly even though some countries, including France, have authorised it only for use in people under 65, saying there is not enough evidence it works in older adults.

With trials showing about 62 per cent efficacy, the vaccine appears to offer less protection than those already authorised, but experts have said any vaccine with an efficacy rate of over 50 per cent could help stop the outbreak.&nbsp;

Health Canada's chief medical adviser, Dr Supriya Sharma said ''It's a good option.''

Sharma said no one has died or become severely ill in trials of the vaccines now approved by Canada or in those of Johnson &amp; Johnson and Novavax shots, which could be approved soon.

It is previously given the green light to&nbsp;Pfizer and Moderna's coronavirus vaccine.

Health authorities in Germany and other countries have raised concerns that AstraZeneca didn't test the vaccine in enough older people to prove it works for them, and indicated they would not recommend it for people over 65.&nbsp;

Belgium has authorized it only for people 55 and under Health Canada said its decision was based on pooled analyses from four ongoing clinical studies trials as well as data in countries where it has been approved.

''Based on the totality of the information, the benefit-risk profile of AstraZeneca COVID-19 Vaccine is positive for the proposed indication in adults 18 years and over," Health Canada said in information posted online.

''We're starting to get real-world evidence. There is evidence that in older age group it would be effective,'' Sharma said.

Canada has now ordered 22 million doses of the AstraZeneca shot, which was co-developed by researchers at the University of Oxford. It will also receive up to 1.9 million doses through the global vaccine-sharing initiative known as COVAX by the end of June.

Trudeau said 2 million of those doses will come from the Serum Institute of India, which Sharma said uses the same recipe but a slightly different method and was also approved.

The AstraZeneca vaccine has already been authorized in more than 50 countries. It is cheaper and easier to handle than the Pfizer-BioNTech vaccine, which needs deep-cold storage that is not widespread in many developing nations. Both vaccines require two shots per person, given weeks apart.

Canada and many European countries have been struggling to vaccinate people as quickly as Britain, Israel, the US and elsewhere. Canada does not have domestic production and Trudeau's government has been accused of not obtaining vaccines fast enough even while also being criticized for ordering enough doses overall to supply its population 10 times over.

The AstraZeneca vaccine forms the bulk of COVAX's stockpile and concerns were recently raised by an early study that suggested it might not prevent mild and moderate disease caused by the variant first seen South Africa.&nbsp;

Last week, South Africa scaled back its planned rollout of the AstraZeneca vaccine, opting instead to use an unlicensed shot from Johnson &amp; Johnson for its health care workers.&nbsp;

Canadian regulators on Friday authorised its third coronavirus vaccine, AstraZeneca, for all adults. ''This is very encouraging news. It means more people vaccinated, and sooner," Prime Minister Justin Trudeau said, adding that the nation of 38 million people will now get 6.

Canadian regulators on Friday authorised its third coronavirus vaccine, AstraZeneca, for all adults. ''This is very encouraging news. It means more people vaccinated, and sooner," Prime Minister Justin Trudeau said, adding that the nation of 38 million people will now get 6.5 million vaccines in total before the end of March, 500,000 more now with the new approval. Health Canada approved the AstraZeneca vaccine for use in people 18 and over, expressing confidence it would work for the elderly even though some countries, including France, have authorised it only for use in people under 65, saying there is not enough evidence it works in older adults. With trials showing about 62 per cent efficacy, the vaccine appears to offer less protection than those already authorised, but experts have said any vaccine with an efficacy rate of over 50 per cent could help stop the outbreak. Health Canada's chief medical adviser, Dr Supriya Sharma said ''It's a good option.'' Sharma said no one has died or become severely ill in trials of the vaccines now approved by Canada or in those of Johnson & Johnson and Novavax shots, which could be approved soon. It is previously given the green light to Pfizer and Moderna's coronavirus vaccine. Health authorities in Germany and other countries have raised concerns that AstraZeneca didn't test the vaccine in enough older people to prove it works for them, and indicated they would not recommend it for people over 65. Belgium has authorized it only for people 55 and under Health Canada said its decision was based on pooled analyses from four ongoing clinical studies trials as well as data in countries where it has been approved. ''Based on the totality of the information, the benefit-risk profile of AstraZeneca COVID-19 Vaccine is positive for the proposed indication in adults 18 years and over," Health Canada said in information posted online. ''We're starting to get real-world evidence. There is evidence that in older age group it would be effective,'' Sharma said. Canada has now ordered 22 million doses of the AstraZeneca shot, which was co-developed by researchers at the University of Oxford. It will also receive up to 1.9 million doses through the global vaccine-sharing initiative known as COVAX by the end of June. Trudeau said 2 million of those doses will come from the Serum Institute of India, which Sharma said uses the same recipe but a slightly different method and was also approved. The AstraZeneca vaccine has already been authorized in more than 50 countries. It is cheaper and easier to handle than the Pfizer-BioNTech vaccine, which needs deep-cold storage that is not widespread in many developing nations. Both vaccines require two shots per person, given weeks apart. Canada and many European countries have been struggling to vaccinate people as quickly as Britain, Israel, the US and elsewhere. Canada does not have domestic production and Trudeau's government has been accused of not obtaining vaccines fast enough even while also being criticized for ordering enough doses overall to supply its population 10 times over. The AstraZeneca vaccine forms the bulk of COVAX's stockpile and concerns were recently raised by an early study that suggested it might not prevent mild and moderate disease caused by the variant first seen South Africa. Last week, South Africa scaled back its planned rollout of the AstraZeneca vaccine, opting instead to use an unlicensed shot from Johnson & Johnson for its health care workers.

Canadian health agency authorises AstraZeneca vaccine

Notable names at ‘Mission Sustainability – Population v/s Planet’ Thought Leadership Conclave

Viral videos are&nbsp;circulating on social media, claiming that the devastating snow in the Texas storm was “fake” or “created by the government”.

People are burning snow in the US to&nbsp;prove that the snow is fake.&nbsp;Thousands have embarked on this mission.&nbsp;Snowballs are being lit one after another with&nbsp;ith zero regards for science or&nbsp;sublimation.

A now-deleted&nbsp;TikTok&nbsp;video, which has been viewed over 854,500 times, claimed Bill Gates was responsible for the 'scorched snow’.&nbsp;

Bill Gates was also blamed for the coronavirus pandemic by several conspiracy theories who also claimed that he&nbsp;inserted chips into the vaccines.

Another TikTok video claimed that China sent fake snow to the US to&nbsp;prove global warming is real.&nbsp;

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<blockquote class="twitter-tweet">
Special rice snow flakes from China. FAKE WEATHER FAKE SNOW <a href="https://t.co/8vqORGfuFa">pic.twitter.com/8vqORGfuFa</a>
— Lasella (@Lasella73) <a href="https://twitter.com/Lasella73/status/1363443450054660098?ref_src=twsrc%5Etfw">February 21, 2021</a></blockquote>
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When fire hits the snowball, the&nbsp;snow turns from solid to gas, that is, it disappears.&nbsp;Most iterations also point out that the&nbsp;purported fake&nbsp;snow&nbsp;“burns”,&nbsp;because the&nbsp;lighter leaves a&nbsp;“scorch”&nbsp;mark&nbsp;on&nbsp;the&nbsp;snowballs.&nbsp;

However, the markings&nbsp;and the smell&nbsp;result&nbsp;from the burning butane, which is a colourless gas usually used as fuel in lighters that has a “faint petroleum-like odour”.&nbsp;Butane, found in the lighters,&nbsp;is&nbsp;a hydrocarbon&nbsp;-&nbsp;a&nbsp;molecule&nbsp;which is&nbsp;part&nbsp;carbon and&nbsp;part&nbsp;hydrogen.&nbsp;

The reaction of barium hydroxide and ammonium chloride,&nbsp;which is often used as an example of endothermic reactions&nbsp;does produce a snow-like&nbsp;white powder&nbsp;material.

The substances used are toxic and used in small quantities; ammonia gas which can be produced during the experiment, is also&nbsp;an&nbsp;irritant.&nbsp;Similar conspiracy theories about alleged “synthetic” snow have been debunked in the past.

On several occasions in the past, President Biden has used the phrase “dark winter” to refer to the impact of COVID-19 during the cold season, when infectious diseases like influenza, traditionally peak as the bad weather drives people inside.&nbsp;

Biden and health experts have used this terminology not to predict the Texas winter storm as the post suggests, but to address an increase in contagion and death toll from COVID-19 over the winter months before vaccines became widely available.

Verdict

There is no evidence the snow in Texas’ is “fake” or “created by the government”. Viral videos claiming that the snow “is not melting” and that it’s “burning” instead, show a common phenomenon that has been explained in the past.

The National Weather Service (NWS) said an Arctic air mass spread southward, well beyond areas accustomed to freezing weather, with winter storm warnings posted for most of the Gulf Coast region, Oklahoma and Missouri.

As explained by NASA’s Earth Observatory, the cold wind from the Artic, which moved in on February&nbsp;13, hit Texas particularly hard, leaving southern areas of the state experiencing colder temperatures than parts of Alaska.&nbsp;

Viral videos are circulating on social media, claiming that the devastating snow in the Texas storm was “fake” or “created by the government”. People are burning snow in the US to prove that the snow is fake.

Viral videos are circulating on social media, claiming that the devastating snow in the Texas storm was “fake” or “created by the government”. People are burning snow in the US to prove that the snow is fake. Thousands have embarked on this mission. Snowballs are being lit one after another with ith zero regards for science or sublimation. A now-deleted TikTok video, which has been viewed over 854,500 times, claimed Bill Gates was responsible for the 'scorched snow’. Bill Gates was also blamed for the coronavirus pandemic by several conspiracy theories who also claimed that he inserted chips into the vaccines. Another TikTok video claimed that China sent fake snow to the US to prove global warming is real. Special rice snow flakes from China. FAKE WEATHER FAKE SNOW pic.twitter.com/8vqORGfuFa — Lasella (@Lasella73) February 21, 2021 × When fire hits the snowball, the snow turns from solid to gas, that is, it disappears. Most iterations also point out that the purported fake snow “burns”, because the lighter leaves a “scorch” mark on the snowballs. However, the markings and the smell result from the burning butane, which is a colourless gas usually used as fuel in lighters that has a “faint petroleum-like odour”. Butane, found in the lighters, is a hydrocarbon - a molecule which is part carbon and part hydrogen. The reaction of barium hydroxide and ammonium chloride, which is often used as an example of endothermic reactions does produce a snow-like white powder material. The substances used are toxic and used in small quantities; ammonia gas which can be produced during the experiment, is also an irritant. Similar conspiracy theories about alleged “synthetic” snow have been debunked in the past. On several occasions in the past, President Biden has used the phrase “dark winter” to refer to the impact of COVID-19 during the cold season, when infectious diseases like influenza, traditionally peak as the bad weather drives people inside. Biden and health experts have used this terminology not to predict the Texas winter storm as the post suggests, but to address an increase in contagion and death toll from COVID-19 over the winter months before vaccines became widely available. Verdict There is no evidence the snow in Texas’ is “fake” or “created by the government”. Viral videos claiming that the snow “is not melting” and that it’s “burning” instead, show a common phenomenon that has been explained in the past. The National Weather Service (NWS) said an Arctic air mass spread southward, well beyond areas accustomed to freezing weather, with winter storm warnings posted for most of the Gulf Coast region, Oklahoma and Missouri. As explained by NASA’s Earth Observatory, the cold wind from the Artic, which moved in on February 13, hit Texas particularly hard, leaving southern areas of the state experiencing colder temperatures than parts of Alaska.

Fake snow? Conspiracy theories claim Texas frozen due to 'manipulated' weather

Big tech is taking over the world by establishing monopolies. Apple CEO Tim Cook said on Wednesday that it acquires a new company every month.

The acquisition strategy is aimed at offering better services but tech companies are killing competition one sale at a time.

Many lawmakers in recent years have called for laws and regulations to rein in dominant&nbsp;tech&nbsp;companies such as Facebook Inc, Twitter Inc, Alphabet Inc's Google, Amazon.com Inc and Apple Inc.

Turi inc. was once a promising artificial intelligence startup in Seattle. The company helped create software that uses machine learning. Its technology was so promising that Apple bought the company and paid&nbsp;a record $200 million for it.

While buying companies is not new for tech giants, the speed at which they are lapping up competitors is alarming.

Apple CEO&nbsp;Tim Cook revealed that they have acquired over 100 companies in nearly six&nbsp;years. This means buying one company every three&nbsp;to four&nbsp;weeks.

This includes the $3 billion takeover of headphone maker Beats and music recognition app Shazam.

Apple isn't the only company that does hostile takeovers. Facebook bought Instagram and WhatsApp when it threatened its popularity within a span of two years.

Big tech giants are on an acquisition spree. Many acquisitions never even make it to the headlines...

The idea is simple: Eliminate potential rivals, kill innovation and poach talent from smaller companies.

At the centre of this&nbsp;is a big tech monopoly. The last two&nbsp;decades have witnessed the rise of five&nbsp;major global tech giants. These include Alphabet, Amazon, Apple, Facebook and Microsoft.

Today, these tech giants wield too much power. Each of them monopolistic in their own domain. They exercise enormous power over our digital lives, controlling the way we navigate through the web.

Some are even trying to manipulate the way democracies run while others have taken the privacy of users for granted. The way to restore the power balance is to break up big tech.

Current US antitrust laws allow federal regulators to break up mergers, a&nbsp;move that could promote healthy competition in the market.

For global regulators, breaking up monopolies needs a new legal toolbox. Either way,&nbsp;the idea is to level the playing field and protect the future of the internet.

Big tech is taking over the world by establishing monopolies. Apple CEO Tim Cook said on Wednesday that it acquires a new company every month. The acquisition strategy is aimed at offering better services but tech companies are killing competition one sale at a time.

Big tech is taking over the world by establishing monopolies. Apple CEO Tim Cook said on Wednesday that it acquires a new company every month. The acquisition strategy is aimed at offering better services but tech companies are killing competition one sale at a time. Many lawmakers in recent years have called for laws and regulations to rein in dominant tech companies such as Facebook Inc, Twitter Inc, Alphabet Inc's Google, Amazon.com Inc and Apple Inc. Turi inc. was once a promising artificial intelligence startup in Seattle. The company helped create software that uses machine learning. Its technology was so promising that Apple bought the company and paid a record $200 million for it. While buying companies is not new for tech giants, the speed at which they are lapping up competitors is alarming. Apple CEO Tim Cook revealed that they have acquired over 100 companies in nearly six years. This means buying one company every three to four weeks. This includes the $3 billion takeover of headphone maker Beats and music recognition app Shazam. Apple isn't the only company that does hostile takeovers. Facebook bought Instagram and WhatsApp when it threatened its popularity within a span of two years. Big tech giants are on an acquisition spree. Many acquisitions never even make it to the headlines... The idea is simple: Eliminate potential rivals, kill innovation and poach talent from smaller companies. At the centre of this is a big tech monopoly. The last two decades have witnessed the rise of five major global tech giants. These include Alphabet, Amazon, Apple, Facebook and Microsoft. Today, these tech giants wield too much power. Each of them monopolistic in their own domain. They exercise enormous power over our digital lives, controlling the way we navigate through the web. Some are even trying to manipulate the way democracies run while others have taken the privacy of users for granted. The way to restore the power balance is to break up big tech. Current US antitrust laws allow federal regulators to break up mergers, a move that could promote healthy competition in the market. For global regulators, breaking up monopolies needs a new legal toolbox. Either way, the idea is to level the playing field and protect the future of the internet.

Tim Cook says Apple buys one company every month

US President Joe Biden's administration will&nbsp;distribute 25 million masks starting next month.

White House Coronavirus Response Coordinator Jeff Zients said Wednesday&nbsp;"In the month of March, we will begin to deliver millions of masks to food banks and community health centres around the country.''

"We will deliver more than 25 million masks across the country, these masks will be available in more than 1300 community health centres, and 60,000 food pantries nationwide.

Zients also said that the Biden&nbsp;administration is anticipating the&nbsp;distribution of&nbsp;at least three million doses of Johnson &amp; Johnson's Covid-19 vaccine should it receive emergency use authorization (EUA).

Around 44.5 million people in the United States had received at least one dose of two-shot vaccines developed by Pfizer and BioNTech or Moderna, as of Tuesday morning as the&nbsp;Biden&nbsp;administration tries to accelerate an unprecedented campaign to vaccinate most American adults.

About 19 per cent&nbsp;of total global coronavirus deaths have occurred in the United States, an outsized figure given that the nation accounts for just 4 per cent&nbsp;of the world’s population.

The country has the highest overall death figure, reflecting&nbsp;the lack of a unified, national response last year, when the administration of former President Donald Trump mostly left states to their own devices in tackling the greatest public health crisis in a century.&nbsp;

Biden, a Democrat, took office on Jan. 20 after defeating Trump, a Republican, in the 2020 presidential election, in part by arguing he would do a better job of addressing the pandemic.

Trump downplayed the pandemic in its early stages and repeatedly predicted rosier numbers about the expected death toll in the United States than came to fruition.

&nbsp;

US President Joe Biden's administration will distribute 25 million masks starting next month. White House Coronavirus Response Coordinator Jeff Zients said Wednesday "In the month of March, we will begin to deliver millions of masks to food banks and community health centres around the country.

US President Joe Biden's administration will distribute 25 million masks starting next month. White House Coronavirus Response Coordinator Jeff Zients said Wednesday "In the month of March, we will begin to deliver millions of masks to food banks and community health centres around the country.'' "We will deliver more than 25 million masks across the country, these masks will be available in more than 1300 community health centres, and 60,000 food pantries nationwide. Zients also said that the Biden administration is anticipating the distribution of at least three million doses of Johnson & Johnson's Covid-19 vaccine should it receive emergency use authorization (EUA). Around 44.5 million people in the United States had received at least one dose of two-shot vaccines developed by Pfizer and BioNTech or Moderna, as of Tuesday morning as the Biden administration tries to accelerate an unprecedented campaign to vaccinate most American adults. About 19 per cent of total global coronavirus deaths have occurred in the United States, an outsized figure given that the nation accounts for just 4 per cent of the world’s population. The country has the highest overall death figure, reflecting the lack of a unified, national response last year, when the administration of former President Donald Trump mostly left states to their own devices in tackling the greatest public health crisis in a century. Biden, a Democrat, took office on Jan. 20 after defeating Trump, a Republican, in the 2020 presidential election, in part by arguing he would do a better job of addressing the pandemic. Trump downplayed the pandemic in its early stages and repeatedly predicted rosier numbers about the expected death toll in the United States than came to fruition.

US to distribute 25 million masks for protection against coronavirus

A new study suggests that whales&nbsp;have a long lifespan for mammals and they tend to be resistant to cancer.

These properties are also found in&nbsp;dolphins and porpoises. In general, when a creature has more cells in its body, they are expected to be more vulnerable to random mutations that can develop into cancer.&nbsp;&nbsp;

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According to&nbsp;lead author Daniela Tejada-Martinez at the Austral University of Chile,&nbsp;"Given this, we would expect that large and long-lived species, such as whales, have a higher rate of cancer than in small species.''

So how to explain the longevity of the bowhead whale, which can reach 60 feet in length, weigh up to around 200,000 pounds (nearly 100 tonnes) and live for more than 200 years?&nbsp;

"The way in which the different species throughout their evolutionary history managed to fight cancer remains a mystery," Tejada-Martinez said.

This is known as Peto's paradox when some species do not have an incidence of cancer that correlates with their cell count.&nbsp;&nbsp;

To investigate this, researchers tracked the evolution of 1,077 tumour suppressor genes.&nbsp;

The study, published in the journal Proceedings of the Royal Society B, found signs of positive genetic selection in key regulators of DNA-damage and the immune system.&nbsp;

The turnover rate for these tumour suppression genes was almost 2.4 times higher in cetaceans than other mammals.&nbsp;

Researchers also identified duplication of 11 genes linked to longevity. But the patterns of gene evolution varied by species.&nbsp;

Baleen whales, for example, had molecular variants in their tumour-suppressing genes and a fast turnover rate, which may explain the evolution of their "gigantism and longevity", said Tejada-Martinez.&nbsp;&nbsp;&nbsp;

The bottlenose dolphin, however, had the lowest number of gene copies among the cetaceans studied.&nbsp;

Since this species is associated with an increased incidence of cancer, the authors hypothesised that this suggests a higher rate of tumour suppressor gene copies could mean a lower risk of developing cancer.&nbsp;&nbsp;

"The link between evolutionary biology and medicine allows a more complete understanding of how the different forms of genetic variations contribute to cancer resistance and the ageing evolution in cetaceans," said Tejada-Martinez.&nbsp;

"The discovery of new molecular variants including additional copies of genes could be the key to reveal new biological pathways that could lead to the creation of innovative treatments for cancer and age-related diseases."

A new study suggests that whales have a long lifespan for mammals and they tend to be resistant to cancer. These properties are also found in dolphins and porpoises.

A new study suggests that whales have a long lifespan for mammals and they tend to be resistant to cancer. These properties are also found in dolphins and porpoises. In general, when a creature has more cells in its body, they are expected to be more vulnerable to random mutations that can develop into cancer. According to lead author Daniela Tejada-Martinez at the Austral University of Chile, "Given this, we would expect that large and long-lived species, such as whales, have a higher rate of cancer than in small species.'' So how to explain the longevity of the bowhead whale, which can reach 60 feet in length, weigh up to around 200,000 pounds (nearly 100 tonnes) and live for more than 200 years? "The way in which the different species throughout their evolutionary history managed to fight cancer remains a mystery," Tejada-Martinez said. This is known as Peto's paradox when some species do not have an incidence of cancer that correlates with their cell count. To investigate this, researchers tracked the evolution of 1,077 tumour suppressor genes. The study, published in the journal Proceedings of the Royal Society B, found signs of positive genetic selection in key regulators of DNA-damage and the immune system. The turnover rate for these tumour suppression genes was almost 2.4 times higher in cetaceans than other mammals. Researchers also identified duplication of 11 genes linked to longevity. But the patterns of gene evolution varied by species. Baleen whales, for example, had molecular variants in their tumour-suppressing genes and a fast turnover rate, which may explain the evolution of their "gigantism and longevity", said Tejada-Martinez. The bottlenose dolphin, however, had the lowest number of gene copies among the cetaceans studied. Since this species is associated with an increased incidence of cancer, the authors hypothesised that this suggests a higher rate of tumour suppressor gene copies could mean a lower risk of developing cancer. "The link between evolutionary biology and medicine allows a more complete understanding of how the different forms of genetic variations contribute to cancer resistance and the ageing evolution in cetaceans," said Tejada-Martinez. "The discovery of new molecular variants including additional copies of genes could be the key to reveal new biological pathways that could lead to the creation of innovative treatments for cancer and age-related diseases."

Study reveals whales are cancer resistence 'in their genes'

Several Canadians complaining about the unusual hardness in their blocks of butter on multiple social networking platforms.

They argue that this hardness has made it difficult for them to spread it on separate food surfaces and it does not melt at room temperature.

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<blockquote class="twitter-tweet">
Captains log: Day 345 of the Pandemic and I have started experimenting with butter. 
 
Half cup store brand organic vs brandname. Fresh out of fridge.<a href="https://twitter.com/hashtag/ButterGate?src=hash&amp;ref_src=twsrc%5Etfw">#ButterGate</a> <a href="https://t.co/heYl0vWOvQ">https://t.co/heYl0vWOvQ</a> <a href="https://t.co/qWiGJAbB7B">pic.twitter.com/qWiGJAbB7B</a>
— CaP (@CarolP_media) <a href="https://twitter.com/CarolP_media/status/1363946343488761856?ref_src=twsrc%5Etfw">February 22, 2021</a></blockquote>
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The Buttergate saga began when Canadian cookbook author&nbsp;Julie Van Rosendaal tweeted on Twitter and posed a question about the butter she purchased.

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Something is up with our butter supply, and I’m going to get to the bottom of it. Have you noticed it’s no longer soft at room temperature? Watery? Rubbery? <a href="https://t.co/AblDzGiRQY">pic.twitter.com/AblDzGiRQY</a>
— Julie Van Rosendaal (@dinnerwithjulie) <a href="https://twitter.com/dinnerwithjulie/status/1357746758919483393?ref_src=twsrc%5Etfw">February 5, 2021</a></blockquote>
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She also suggested several theories due to which this change has taken place. These include changes in policies and practices to Canada’s tariff rate quota, and&nbsp;targeted changes in feeding and&nbsp;farming practices to modify the fatty acid profile of bovine milk in an attempt to boost yield or improve stability.

According to&nbsp;Dairy Farmers of Canada, the country's dairy sector a major presence in all 10 provinces - determines its production quotas based upon demand forecasts. With more Canadians staying home, demand for butter rose by over 12 per cent&nbsp;in 2020.

Since summer last year, Candian farmers have added palm oil-based energy supplements to cow feed to increase their stock which has made the butter supply thicker.

Canada’s government said on Saturday it will pump an additional C$691 million ($531.87 million) to support the country’s dairy, poultry and egg farmers, and also reduced the timeline for payment promised to dairy farmers last year.

The government’s compensation payments recognize business dairy and poultry farmers have lost out after trade pacts were struck with the European Union and Pacific nations.

Canada&nbsp;controls the production and price of eggs, poultry and milk through annual quotas and import taxes -- a system deemed protectionist by its foreign partners.

Several Canadians complaining about the unusual hardness in their blocks of butter on multiple social networking platforms. They argue that this hardness has made it difficult for them to spread it on separate food surfaces and it does not melt at room temperature.

Several Canadians complaining about the unusual hardness in their blocks of butter on multiple social networking platforms. They argue that this hardness has made it difficult for them to spread it on separate food surfaces and it does not melt at room temperature. Captains log: Day 345 of the Pandemic and I have started experimenting with butter. Half cup store brand organic vs brandname. Fresh out of fridge.#ButterGate https://t.co/heYl0vWOvQ pic.twitter.com/qWiGJAbB7B — CaP (@CarolP_media) February 22, 2021 × The Buttergate saga began when Canadian cookbook author Julie Van Rosendaal tweeted on Twitter and posed a question about the butter she purchased. Something is up with our butter supply, and I’m going to get to the bottom of it. Have you noticed it’s no longer soft at room temperature? Watery? Rubbery? pic.twitter.com/AblDzGiRQY — Julie Van Rosendaal (@dinnerwithjulie) February 5, 2021 × She also suggested several theories due to which this change has taken place. These include changes in policies and practices to Canada’s tariff rate quota, and targeted changes in feeding and farming practices to modify the fatty acid profile of bovine milk in an attempt to boost yield or improve stability. According to Dairy Farmers of Canada, the country's dairy sector a major presence in all 10 provinces - determines its production quotas based upon demand forecasts. With more Canadians staying home, demand for butter rose by over 12 per cent in 2020. Since summer last year, Candian farmers have added palm oil-based energy supplements to cow feed to increase their stock which has made the butter supply thicker. Canada’s government said on Saturday it will pump an additional C$691 million ($531.87 million) to support the country’s dairy, poultry and egg farmers, and also reduced the timeline for payment promised to dairy farmers last year. The government’s compensation payments recognize business dairy and poultry farmers have lost out after trade pacts were struck with the European Union and Pacific nations. Canada controls the production and price of eggs, poultry and milk through annual quotas and import taxes -- a system deemed protectionist by its foreign partners.

Buttergate: Canadians complaining about hard butter online

A Thai court on Wednesday sentenced 14 political leaders to jail, including three incumbent cabinet ministers, after finding them guilty of insurrection during anti-government protests that culminated in a 2014 military coup.

The court found 26 of 39 defendants guilty, a lawyer for the group said, for actions that included obstructing elections and invading government property, which took place during seven months of demonstrations against the government of Yingluck Shinawatra.

Digital Minister Puttipong Punnakanta, Education Minister Nataphol Teepsuwan and Deputy Transport Minister Thaworn Senneam received jail terms ranging from five years to seven years and four months. According to the country's constitution, they will be required to vacate their posts.

A government spokesman declined to give comment on jailed ministers, while the court could not be reached.

The ministers are all in the cabinet of Prime Minister Prayuth Chan-ocha, who led a coup that overthrew Yingluck in 2014, an intervention the military said was necessary to prevent bloodshed as protests against her intensified.

"They pleaded not guilty to all the charges and will appeal," said Sawat Charoenpon, a lawyer representing the People's Democratic Reform Committee (PDRC), as the group is known.

PDRC leader and former deputy prime minister Suthep Thaugsuban was jailed for five years. Of those found guilty, 12 were given suspended sentences and six were released on bail.

"We the leaders of the PDRC have been convicted to many years in jail yet all of us still maintain our ideals of serving the nation, religion and king," Suthep posted on Facebook after the verdict.

The PDRC protests in 2013 and 2014 play a pivotal role in uniting royalist and nationalist forces against a government they said was controlled by fugitive tycoon and ousted former premier Thaksin Shinawatra, Yingluck's exiled brother. Both Shinawatras won elections by landslides.

Prayuth stayed on as prime minister after the coup and retained the post after a 2019 election, which he insists was free and fair, despite opposition allegations of foul play.

The former general endured months of street protests himself last year by a youth-led movement demanding his resignation, a new constitution and reforms to the monarchy.

A Thai court on Wednesday sentenced 14 political leaders to jail, including three incumbent cabinet ministers, after finding them guilty of insurrection during anti-government protests that culminated in a 2014 military coup.

A Thai court on Wednesday sentenced 14 political leaders to jail, including three incumbent cabinet ministers, after finding them guilty of insurrection during anti-government protests that culminated in a 2014 military coup. The court found 26 of 39 defendants guilty, a lawyer for the group said, for actions that included obstructing elections and invading government property, which took place during seven months of demonstrations against the government of Yingluck Shinawatra. Digital Minister Puttipong Punnakanta, Education Minister Nataphol Teepsuwan and Deputy Transport Minister Thaworn Senneam received jail terms ranging from five years to seven years and four months. According to the country's constitution, they will be required to vacate their posts. A government spokesman declined to give comment on jailed ministers, while the court could not be reached. The ministers are all in the cabinet of Prime Minister Prayuth Chan-ocha, who led a coup that overthrew Yingluck in 2014, an intervention the military said was necessary to prevent bloodshed as protests against her intensified. "They pleaded not guilty to all the charges and will appeal," said Sawat Charoenpon, a lawyer representing the People's Democratic Reform Committee (PDRC), as the group is known. PDRC leader and former deputy prime minister Suthep Thaugsuban was jailed for five years. Of those found guilty, 12 were given suspended sentences and six were released on bail. "We the leaders of the PDRC have been convicted to many years in jail yet all of us still maintain our ideals of serving the nation, religion and king," Suthep posted on Facebook after the verdict. The PDRC protests in 2013 and 2014 play a pivotal role in uniting royalist and nationalist forces against a government they said was controlled by fugitive tycoon and ousted former premier Thaksin Shinawatra, Yingluck's exiled brother. Both Shinawatras won elections by landslides. Prayuth stayed on as prime minister after the coup and retained the post after a 2019 election, which he insists was free and fair, despite opposition allegations of foul play. The former general endured months of street protests himself last year by a youth-led movement demanding his resignation, a new constitution and reforms to the monarchy.

Thai ministers jailed as court finds 26 guilty of insurrection

Sri Lanka's ex-president and his intelligence chiefs should be prosecuted for failing to prevent suicide bombings two years ago on Easter Sunday that killed 279 people, according to an investigation released Tuesday.

Maithripala Sirisena, who left office last year, was found to have been negligent by an investigation he set up five months after the Islamic attacks on three hotels and three churches on April 21, 2019.

It quickly emerged that Indian intelligence had warned Sri Lanka 17 days beforehand about the risk of attacks, following a tip-off from a suspect.

The report by the presidential commission of inquiry said the "balance of probability" was that Sirisena was told by his intelligence chief about the warnings before the attacks.

The commission, which heard from 440 witnesses and handed over its report to parliament on Tuesday, said the attorney general should "consider instituting criminal proceedings against (former) president Sirisena under any suitable provision in the Penal Code".

<a href="https://www.wionews.com/videos/gravitas-2019-lanka-easter-bombings-report-out-365763">WATCH|</a>

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-2019-lanka-easter-bombings-report-out-365763/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Sirisena, now a ruling party legislator, has previously denied any knowledge of the warnings,&nbsp;and made no comment about the report.

The probe also found Sirisena's head of intelligence Nilantha Jayawardena was criminally liable for failing to act on the warnings from Indian intelligence.

Jayawardena had "diluted the weight of the intelligence" from India, the report said.

It added that police inspector-general Pujith Jayasundara should also be prosecuted for negligence.

Jayasundara and the top defence ministry official at the time, Hemasiri Fernando, already face charges over their failure to prevent the attacks.

The report found that the coordinated bombings were funded by the family of a local spice trader whose two sons were among the suicide bombers.

Two days after the attack, the Islamic State group claimed responsibility, but investigators say they have not found a direct link between the local jihadists and IS.

The attacks were led by Zahran Hashim, an Islamist known to Sri Lankan anti-terror police and intelligence units.&nbsp;

He had issued calls on social media for the killing of non-Muslims and persuaded six young men to sacrifice themselves in the Buddhist-majority nation.

The spice trader's son, Ilham Ibrahim, died at the Shangri-La Hotel while his brother Inshaf Ibrahim bombed the Cinnamon Grand. Ringleader Hashim also died at the Shangri-La.

Two churches in Colombo and another in the&nbsp;eastern&nbsp;region of Batticaloa were also hit by suicide bombers.

Sri Lanka's ex-president and his intelligence chiefs should be prosecuted for failing to prevent suicide bombings two years ago on Easter Sunday that killed 279 people, according to an investigation released Tuesday.

Sri Lanka's ex-president and his intelligence chiefs should be prosecuted for failing to prevent suicide bombings two years ago on Easter Sunday that killed 279 people, according to an investigation released Tuesday. Maithripala Sirisena, who left office last year, was found to have been negligent by an investigation he set up five months after the Islamic attacks on three hotels and three churches on April 21, 2019. It quickly emerged that Indian intelligence had warned Sri Lanka 17 days beforehand about the risk of attacks, following a tip-off from a suspect. The report by the presidential commission of inquiry said the "balance of probability" was that Sirisena was told by his intelligence chief about the warnings before the attacks. The commission, which heard from 440 witnesses and handed over its report to parliament on Tuesday, said the attorney general should "consider instituting criminal proceedings against (former) president Sirisena under any suitable provision in the Penal Code". WATCH| Sirisena, now a ruling party legislator, has previously denied any knowledge of the warnings, and made no comment about the report. The probe also found Sirisena's head of intelligence Nilantha Jayawardena was criminally liable for failing to act on the warnings from Indian intelligence. Jayawardena had "diluted the weight of the intelligence" from India, the report said. It added that police inspector-general Pujith Jayasundara should also be prosecuted for negligence. Jayasundara and the top defence ministry official at the time, Hemasiri Fernando, already face charges over their failure to prevent the attacks. The report found that the coordinated bombings were funded by the family of a local spice trader whose two sons were among the suicide bombers. Two days after the attack, the Islamic State group claimed responsibility, but investigators say they have not found a direct link between the local jihadists and IS. The attacks were led by Zahran Hashim, an Islamist known to Sri Lankan anti-terror police and intelligence units. He had issued calls on social media for the killing of non-Muslims and persuaded six young men to sacrifice themselves in the Buddhist-majority nation. The spice trader's son, Ilham Ibrahim, died at the Shangri-La Hotel while his brother Inshaf Ibrahim bombed the Cinnamon Grand. Ringleader Hashim also died at the Shangri-La. Two churches in Colombo and another in the eastern region of Batticaloa were also hit by suicide bombers.

Probe into Sri Lanka attacks finds ex-president should face charges

Saudi Arabia’s Crown Prince and de facto ruler Mohammed bin Salman's vision for 2030 is to move away from oil and&nbsp;fund giant infrastructural projects.

He&nbsp;has put the Public Investment Fund (PIF), Saudi Arabia’s main sovereign wealth fund, at the centre of reforms aimed at diversifying the economy of the world’s top oil exporter away from fossil fuel.

Under the prince’s chairmanship, PIF has transformed from a sleepy sovereign wealth fund into a global investment vehicle making multi-billion-dollar bets on hi-tech companies such as Uber as well as other equity investments and pledging tens of billions of dollars to funds run by Japan’s Softbank.

The five-year mission aims to double the fund's assets to a mammoth one trillion dollars and&nbsp;move to create 1.8 million direct and indirect jobs.

The PIF’s finances are formidable. Its assets have swelled to $400 billion as of 2020 from $150 billion in 2015, with the fund bolstered by an expected $70 billion payday from Saudi Aramco, the state oil company, for PIF’s stake in a petrochemical giant and a $40 billion transfer from the central bank’s foreign reserves.

<a href="https://www.wionews.com/videos/gravitas-how-rich-is-saudi-arabia-365766">WATCH|</a>

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-how-rich-is-saudi-arabia-365766/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

It was also the recipient of nearly $30 billion in proceeds from Aramco’s initial public offering in 2019.

Saudi Arabia is relying instead on the PIF to fund some of the major infrastructure projects to help boost growth, including NEOM, a $500 billion high-tech business zone, and the recently announced “The Line”, a 1 million inhabitants carbon-free city in NEOM, expected to cost between $100 billion and $200 billion.

PIF plans to inject at least 150 billion riyals ($40 billion) annually into the local economy until 2025, and to increase its assets to 4 trillion riyals ($1.07 trillion) by that date, Prince Mohammed has said.

Saudi Arabia is&nbsp;demystifying its finances. The kingdom is also working on creating a consolidated balance sheet of its assets and liabilities which will include items currently kept off the oil-rich economy’s books, including the investments and debts of its powerful sovereign wealth fund.

The country's&nbsp;economy is reeling from the pandemic and&nbsp;there are not enough jobs for the kingdom's young population.&nbsp;The government has been pushing through economic policies since 2016 aiming to create millions of jobs and reduce unemployment to 7 per cent&nbsp;by 2030.

The idea is to use the PIF&nbsp;to fund mega infrastructure projects and&nbsp;pump money into the local economy till 2025.&nbsp;

Saudi Arabia needs the sovereign fund&nbsp;but not as much as oil. The kingdom still derives half of its income from liquid gold.

Saudi Arabia’s Crown Prince and de facto ruler Mohammed bin Salman's vision for 2030 is to move away from oil and fund giant infrastructural projects. He has put the Public Investment Fund (PIF), Saudi Arabia’s main sovereign wealth fund, at the centre of reforms aimed at diversifying the economy of the world’s top oil exporter away from fossil fuel.

Saudi Arabia’s Crown Prince and de facto ruler Mohammed bin Salman's vision for 2030 is to move away from oil and fund giant infrastructural projects. He has put the Public Investment Fund (PIF), Saudi Arabia’s main sovereign wealth fund, at the centre of reforms aimed at diversifying the economy of the world’s top oil exporter away from fossil fuel. Under the prince’s chairmanship, PIF has transformed from a sleepy sovereign wealth fund into a global investment vehicle making multi-billion-dollar bets on hi-tech companies such as Uber as well as other equity investments and pledging tens of billions of dollars to funds run by Japan’s Softbank. The five-year mission aims to double the fund's assets to a mammoth one trillion dollars and move to create 1.8 million direct and indirect jobs. The PIF’s finances are formidable. Its assets have swelled to $400 billion as of 2020 from $150 billion in 2015, with the fund bolstered by an expected $70 billion payday from Saudi Aramco, the state oil company, for PIF’s stake in a petrochemical giant and a $40 billion transfer from the central bank’s foreign reserves. WATCH| It was also the recipient of nearly $30 billion in proceeds from Aramco’s initial public offering in 2019. Saudi Arabia is relying instead on the PIF to fund some of the major infrastructure projects to help boost growth, including NEOM, a $500 billion high-tech business zone, and the recently announced “The Line”, a 1 million inhabitants carbon-free city in NEOM, expected to cost between $100 billion and $200 billion. PIF plans to inject at least 150 billion riyals ($40 billion) annually into the local economy until 2025, and to increase its assets to 4 trillion riyals ($1.07 trillion) by that date, Prince Mohammed has said. Saudi Arabia is demystifying its finances. The kingdom is also working on creating a consolidated balance sheet of its assets and liabilities which will include items currently kept off the oil-rich economy’s books, including the investments and debts of its powerful sovereign wealth fund. The country's economy is reeling from the pandemic and there are not enough jobs for the kingdom's young population. The government has been pushing through economic policies since 2016 aiming to create millions of jobs and reduce unemployment to 7 per cent by 2030. The idea is to use the PIF to fund mega infrastructure projects and pump money into the local economy till 2025. Saudi Arabia needs the sovereign fund but not as much as oil. The kingdom still derives half of its income from liquid gold.

How rich is Saudi Arabia? Kingdom wants to diversify its economy

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