Bitcoin network transaction counts are rising significantly, reaching near all-time highs not seen since late 2024, despite the asset's price being down nearly 50% from its peak. This surge is driven by small-value transactions, including Bitcoin NFT activity and time-stamping services, rather than large economic transfers.
Hong Kong will introduce a two-month subsidy of 50 HK cents per litre for liquefied petroleum gas (LPG) used by taxis, minibuses and school buses from May, amid soaring fuel prices. A previously announced diesel subsidy will take effect on Thursday.
Hong Kong will introduce a two-month subsidy for liquefied petroleum gas used by taxis, minibuses and school buses from May, amid soaring fuel prices. The subsidy rate will be 50 HK cents per litre, benefiting approximately 16,900 taxis, 3,440 minibuses and 170 school buses. A previously announced diesel subsidy will take effect on Thursday.
Oil prices retreated in Asian trade on Wednesday as investors weighed uncertainty around US-Iran peace negotiations following Washington's unilateral extension of the ceasefire. Brent crude fell 21 cents to $98.27/barrel while WTI dropped 28 cents to $89.39. The Strait of Hormuz saw minimal activity with only three ships passing in 24 hours, keeping supply outlook fragile. Iran has not officially responded to the ceasefire extension, while the US maintains its naval blockade of Iranian ports.
