Stocks struggle but the Bitcoin shines

A pedestrian looks at an electronic quotation board displaying companies’ stock prices on the Tokyo Stock Exchange in Tokyo. (AFP)
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Updated 13 February 2021
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Stocks struggle but the Bitcoin shines

  • Innes noted that the earnings season has gone well in the US and Europe, while the number of COVID-19 infections has been dropping faster than in previous waves

European and US equities struggled Friday as investors awaited further stimulus and vaccine news, but Bitcoin forged a new record as it crept toward $50,000.
Bitcoin soared to a new high of $48,930 in Asian trade, after MasterCard and US bank BNY Mellon moved Thursday to make it easier for people to use the cryptocurrency. It later slid back under $48,000.
In European equity trading, London and Paris each added 0.2 percent, while Frankfurt was 0.4 percent lower in afternoon trading.
“Recent gains brought about from US stimulus and vaccination optimism has faded to bring a more ‘wait-and-see’ approach from markets,” said Joshua Mahony, senior analyst at online trading firm IG.
London sentiment was dented somewhat by news that the coronavirus-ravaged UK economy shrank by a record 9.9 percent in 2020, despite an upturn in the second half.

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$48,930 Bitcoin soared to a new high of $48,930 in Asian trade, after MasterCard and US bank BNY Mellon moved Thursday to make it easier for people to use the cryptocurrency. It later slid back under $48,000.

Meanwhile on Wall Street, the blue-chip Dow fell 0.1 percent at the start of trading. Both the broader S&P 500 and tech-heavy Nasdaq Composite dropped from record closes.
“Nothing awful is happening out here just that the current narrative — strong earnings, vaccine rollout, and stimulus hopes are getting a touch stale,” said analyst Stephen Innes at Axi.
Equities have rallied this year on the back of vaccine rollouts, falling infection and death rates, and optimism Biden will push through his $1.9 trillion stimulus.
Innes noted that the earnings season has gone well in the US and Europe, while the number of COVID-19 infections has been dropping faster than in previous waves.
He said it was unclear why the rally in equity markets has paused, but suggested that perhaps “investors need some good old proof in the economic pudding before taking that next leap of faith.”


Saudi Arabia leads outcome-based education to prepare future-ready generations: Harvard Business Review

A Harvard sign is seen at the Harvard University campus in Boston, Massachusetts, on May 27, 2025. (AFP)
Updated 10 February 2026
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Saudi Arabia leads outcome-based education to prepare future-ready generations: Harvard Business Review

  • The Riyadh-based school group developed a strategy that links every classroom activity to measurable student competencies, aiming to graduate learners equipped for the digital economy and real-world contexts

RIYADH: Saudi Arabia’s education system is undergoing a sweeping transformation aligned with Vision 2030, shifting from traditional, input-focused methods to outcome-based education designed to equip students with future-ready skills, Harvard Business Review Arabic reported.

The transformation is being adopted and spearheaded by institutions such as Al-Nobala Private Schools, which introduced the Kingdom’s first national “learning outcomes framework,” aimed at preparing a generation of leaders and innovators for an AI-driven future, the report said.

Al-Nobala has leveraged international expertise to localize advanced learning methodologies.

The Riyadh-based school group developed a strategy that links every classroom activity to measurable student competencies, aiming to graduate learners equipped for the digital economy and real-world contexts. The school’s group approach combines traditional values with 21st-century skills such as critical thinking, communication, innovation and digital fluency.

According to the report, the shift addresses the growing gap between outdated models built for low-tech, resource-constrained environments and today’s dynamic world, where learners must navigate real-time information, virtual platforms, and smart technologies.

“This is not just about teaching content, it’s about creating impact,” the report noted, citing how Al-Nobala’s model prepares students to thrive in an AI-driven world while aligning with national priorities.

The report noted that Saudi Arabia’s Ministry of Education has paved the way for this shift by transitioning from a centralized controller to a strategic enabler, allowing schools such as Al-Nobala to tailor their curriculum to meet evolving market and societal needs. This is part of the long-term goal to place the Kingdom among the top 20 global education systems.

Al-Nobala’s work, the report stated, has succeeded in serving the broader national effort to link education outcomes directly to labor market demands, helping to fulfill the Vision 2030 pillar of building a vibrant society with a thriving economy driven by knowledge and innovation.

Last February, Yousef bin Abdullah Al-Benyan, Saudi Arabia’s minister of education, said that the Kingdom was making “an unprecedented investment in education,” with spending aligned to the needs of growth and development. He said that in 2025, education received the second-largest share of the state budget, totaling $53.5 billion.