READING EXERCISE 010 : "Crypto exchange Binance to invest $200 mln in U.S. media firm Forbes'" (VOCABULARY LIST 10)

Crypto exchange Binance to invest $200 mln in U.S. media firm Forbes

 

LONDON, Feb 10 (Reuters) - Major cryptocurrency exchange Binance will make a $200 million investment in Forbes, the media company said on Thursday, as it prepares to go public via a special purpose acquisition company (SPAC).

The investment by Binance, the world's biggest cryptocurrency exchange by trading volumes, will replace half of the $400 million in private placement commitments already announced by Forbes and SPAC company Magnum Opus Acquisition Limited (OPA.N).

The deal is expected to close by the end of March, Forbes and Magnum Opus said in a statement.

Forbes said in August that it would go public via a SPAC in an attempt to build on its digital transition and pursue further chances for growth.

"The transactions with Magnum Opus and Binance are expected to help Forbes maximize its brand and enterprise values," the companies said.

Binance will help advise Forbes on its digital asset and "Web3" strategy, they added, referring to a still-unrealised version of the internet where blockchain-based "decentralised" apps and cryptocurrencies are widely used.

SPACs are shell companies that raise money in an initial public offering (IPO) and put it in a trust for the purpose of merging with a private company and taking it public.

In February last year, Binance dropped a lawsuit against Forbes. It had in 2020 sued Forbes and two of its journalists for defamation over an October story the magazine published regarding the exchange's corporate structure.

Two senior Binance executives - Chief Communications Officer Patrick Hillman and Bill Chin, the head of its venture capital arm - will join Forbes's board of directors on the closing of the deal, the statement said.

"I can confirm Forbes's editorial independence will remain sacrosanct, and entirely independent from Binance," Binance spokesperson Simon Matthews told Reuters.

On Thursday, Binance CEO Changpeng Zhao tweeted a CNBC story on the deal to his 5.1 million followers. He later posted a thumbs-up emoji in reply to a post that said "need to set the right narrative discarding the fake news".

Source: Reuters.com (Thursday, 10 February 2022)

 

 

         LIST OF VOCABULARY

NO	ENGLISH	INDO
1.	Cryptocurrency	Kripto
2.	Exchange	Penukaran
3.	Investment	Investasi
4.	Acquisition	Akuisisi
5.	Trading	Jual beli
6.	Attempt	Percobaan
7.	Pursue	Mengejar
8.	Enterprise	Perusahaan
9.	Blockchain	Blockchain
10.	Merging	Penggabungan
11.	Defamation	Fitnah
12.	Regarding	Tentang
13.	Sacrosanct	Suci
14.	Discarding	Membuang
15.	Venture	Usaha

 

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READING EXERCISE 009: "Russia reports over 197,000 daily COVID-19 cases" — (VOCABULARY LIST 9)

Russia reports over 197,000 daily COVID-19 cases — crisis center

MOSCOW, February 10. /TASS/. Russia’s COVID-19 case tally rose by 197,076 over the past day to 13,527,845, the anti-coronavirus crisis center reported on Thursday.

In relative terms, the growth rate reached 1.5%.

As many as 19,446 patients with COVID-19 were hospitalized in Russia in the past day, down 3.63% from a day earlier. Meanwhile, in 51 regions the number of those hospitalized has decreased, while in 32 regions the number has increased, according to the crisis center. The situation remained unchanged in two regions.

Moscow daily cases

Moscow’s COVID-19 cases surged by 22,747 over the past day versus 11,521 a day earlier, reaching 2,558,503.

The growth rate hit 0.9%.

Some 84 patients died of COVID-19 in the Russian capital in the past day versus 82 deaths a day earlier, bringing the death toll to 39,768, the crisis center reports.

As many as 24,364 patients recovered in Moscow in the past 24 hours, bringing the recoveries to 2,118,897.

Patients' deaths

Russia’s COVID-19 death toll surged by 701 over the past day to 338,091, the anti-coronavirus crisis center said.

A day earlier 669 COVID-19 deaths were registered.

Patients' recoveries

Russia’s COVID-19 recoveries rose by 106,092 over the past day versus 97,163 a day earlier, reaching 10,909,397.

The share of patients discharged from hospitals has dropped to 80.6% of the total number of those infected.

Source: TASS Rusian News Agency (Thursday, 10 February 2022)

 

         LIST OF VOCABULARY

NO	ENGLISH	INDO
1.	Reaching	Mencapai
2.	Meanwhile	Sementara itu
3.	Surged	Melonjak
4.	Discharged	Boleh kembal pulag
5.	Toll	Menjerat
6.	Growth	Pertumbuhan
7.	Recovered	Pulih

 

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READING EXERCISE 008: "Sulawesi's tyre-bound crocodile finally freed after five years" (VOCABULARY LIST 8)

                        Sulawesi's tyre-bound crocodile finally freed after five years

A wild crocodile in Central Sulawesi who was trapped in a tyre for more than five years has been rescued, freed from its rubber vice and released back into the wild, officials and residents said Tuesday. Conservation workers have been trying to lure the stricken saltwater crocodile from a river since 2016 after residents of Palu spotted the animal with a motorbike tyre wrapped around its neck. But it had proved very difficult to capture. At one point, an Australian crocodile wrangler attempted to free the reptile but was unsuccessful. But it was a local resident who snared the 5.2-metre (17 foot) long reptile -- who was regularly seen sunbathing in the Palu river in Central Sulawesi -- from its tight squeeze late on Monday. Tili, a 34-year-old bird-seller, used chicken as bait and ropes to catch the beast at the end of what he said was a three-week rescue effort, before dozens of locals helped to drag the crocodile to shore and cut the tyre around its neck. "I just wanted to help, I hate seeing animals trapped and suffering," Tili told AFP.  His first two attempts to rescue the croc failed because the ropes were not strong enough to contend with its weight, he said, before turning to nylon ropes used for tugging boats. "I was already exhausted so I let them finish the rescue, the crocodile was unbelievably heavy, everybody was sweating and getting very tired."   The crocodile was released back into the water immediately after the rescue to relieved cheers from locals. 

 Conservationists believe someone may have deliberately placed the tyre around the croc's neck in a failed attempt to trap it as a pet in the archipelago nation that is home to several species of the animal.  Tili beat the authorities to the capture because they lacked the proper equipment for a rescue in the river that houses more than 30 other crocodiles. "Yesterday was a historical day for us, we are grateful the crocodile was finally rescued and we appreciate the locals who showed concern for the wildlife," Hasmuni Hasmar, head of the local conservation agency, told AFP.

The reptile made headlines in early 2020 when the local government promised a reward to anyone who caught the croc and removed the tyre, but later called off the contest over fears it could endanger its safety.  But the local conservation agency said Tili is in line for a prize after his daring plan paid off.

The reptile, which local people had referred to as "buaya kalung ban" (crocodile with a tyre necklace), was released back into the river on Monday evening."We will award Tili for his effort in rescuing the wildlife,"Hasmar said.

Source: Te Jakarta Post (Wednesday, 9 February 2022)

 

         LIST OF VOCABULARY

NO	ENGLISH	INDO
1.	Trapped	Terjebak
2.	Conservation	Konservasi
3.	Wrapped	Melilit
4.	Wrangler	Pecinta hewan
5.	Snared	Menjerat
6.	Bait	Umpan
7.	Beast	Hewan buas
8.	Shore	Pantai
9.	Contend	Bersaing
10.	Sweating	Berkeringat
11.	Deliberately	Dengan sengaja
12.	Lacked	Kekurangan/keterbatasan
13.	Caught	Menangkap
14.	Released	Melepaskan
15.	Prize	Hadiah

Created by: Mazririd 

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