The price of the world's top cryptocurrency, bitcoin, briefly surged to $16,157 on Thursday, hitting a high not seen since January 6, 2018. Analysts say that a number of companies appear to be warming to the digital currency.

Bitcoin was trading up two percent at $15,830 as of 12:34 GMT. It is now up 123 percent on a year-to-date basis and has gained nearly 50 percent so far this quarter, according to CoinDesk.

Analysts have attributed the price growth to the cryptocurrency having recently received validation from several public companies and prominent investors as a store of value asset.

“Against the backdrop of stimulus from the Federal Reserve, we expect investors holding cash to continue to allocate to bitcoin,” Kyle Davies, co-founder of Three Arrows Capital, told CoinDesk.

“The interest so far in 2020 has been primarily from institutions, and we could see more retail participation when bitcoin breaks its previous all-time highs of $20,000,” Davies added.

ALSO ON RT.COM

‘Bitcoin is a very likely candidate for a world reserve currency,’ entrepreneur & best-selling author tells RT's Keiser Report

Last month, fintech giant PayPal announced it would add new features letting users trade bitcoin, ether, bitcoin cash and litecoin. By early 2021, it plans to let customers use cryptocurrencies to shop with its network of 26 million retailers.

Another fintech company, Square, which is run by Twitter CEO Jack Dorsey, said in October it had bought $50 million worth of bitcoin. Square has long offered crypto services to users of its popular Cash app.

The world’s best-known and most valuable cryptocurrency, bitcoin has more than doubled in price this year, akin to its rally in late 2017 that saw it narrow in on the $20,000 mark.

Kuala Lumpur: The Asian Football Confederation (AFC) has today announced that Unitel will be the first ever broadcaster in Mongolia to show the AFC competitions in the period from 2021 to 2024.

The deal includes all major AFC national team and club competitions, including but not limited to the AFC Asian Qualifiers – Road to Qatar, the AFC Champions League and AFC Cup from the 2021 season, the AFC Asian Cup China 2023 and the AFC U23 Asian Cup Finals 2022 and 2024.

Unitel is one of the most subscribed telecommunications companies in Mongolia and through their channel UniLive and digital service Look TV, Unitel will provide extensive live coverage of all Mongolian national team and club matches.

Dato’ Windsor John, the AFC General Secretary, said: “We are delighted with this ground-breaking partnership in Mongolia, one of the aspiring nations in Asian football. This deal demonstrates the value and appeal of the AFC’s competitions and we thank Unitel for being the first Mongolian broadcaster to partner with the AFC.”

Munkhbat Enkhtaivan, Content Strategy and Planning Director at Unitel, said: ‘’We are delighted to announce this new partnership to secure one of the most prestigious sporting competitions in Asia. Football is becoming increasingly popular in Mongolia and we are proud to be able to offer AFC competitions to our fans to fulfil their needs and boost the wide range of entertainment Unitel has to offer.’’

Patrick Murphy, Board Member and CEO at Football Marketing Asia, said: ‘’We are thrilled to have Unitel as our valued media partner in Mongolia. Football is growing among grassroots and we are excited about the prospect of Unitel further strengthening the presence of top Asian football in the region.’’

The Mongolian Government has decided to change from a state of advanced emergency readiness (third degree emergency situation) to one of public emergency readiness (second degree emergency situation) nationwide for five days from 12-17 November. The cabinet held an emergency meeting yesterday night at 10.00 p.m. after a local truck driver and his family members tested positive for coronavirus. The truck driver was confirmed positive after completing 21 days of mandatory isolation. Before he was confirmed as having infection, he and his family members had watched a concert at the UB Palace – this is a large public venue in the west of Ulaanbaatar; potentially the consequences could be disastrous.

During the second–degree emergency period, people are banned from leaving home unless it is for vital needs such as buying food or attending funerals. In addition, public transportation will only run in the morning from 07.00 a.m. to 10.00 a.m. and in the evening from 5.00 p.m.to 9.00 p.m. Most employees will work from home; however, energy, health workers, media, food production plants and supermarket staff will work regular hours.

If the situation worsens, the Government will impose a state of national emergency situation (first degree). Mongolia first announced a state of advanced emergency readiness and preparation in late January after the Covid-19 pandemic started with in Wuhan, China. Since then, the Government has extended the period of the advanced emergency readiness and preparation multiple times. As a result of these prompt and strict measures, until very recently there have been no local transmissions and to date, no deaths.

(11 November), the National Emergency Commission decided to suspend all charter flights scheduled to be conducted in November to repatriate Mongolians stranded in pandemic hit regions. According to Deputy Prime Minister Ya. Sodbaatar, all flights will be suspended for an indefinite period until the government takes control of local transmission cases which started with a truck driver who was confirmed having coronavirus infection after leaving an isolation center.

Mongolia repatriated over 160 of its nationals yesterday from Tokyo with charter flight by MIAT, Mongolian airlines. The airline is conducting another flight to Seoul today (12 November) for passengers who applied to go to South Korea; however, it returned without any passengers – just but medical equipment.

Subsequently, the following charter flights are now suspended:

-to Seoul on 13, 18, 20 and 27 November

-to Frankfurt on 19 November

-to Tokyo on 25 November.

New York (CNN Business)Pfizer CEO Albert Bourla filed to sell millions of dollars of his company's stock Monday -- the day the pharmaceutical giant announced positive data about its coronavirus vaccine.

The company's shares soared after Pfizer and European drug company BioNTech said early data suggests the vaccine could be more than 90% effective.

The transaction was part of a regularly scheduled plan set up by Bourla to periodically sell some of his Pfizer shares.

Bourla sold 132,508 Pfizer (PFE) shares at a price of $41.94, according to a filing with the Securities and Exchange Commission. That works out to proceeds of nearly $5.6 million.

A Pfizer spokeswoman said in an email to CNN Business that the sale took place because Pfizer shares hit a predetermined price as part of a plan authorized by Bourla on August 19.

When asked if Pfizer and Bourla thought to cancel the stock sale due to the perception that Bourla might be cashing in on good news, the spokeswoman said that "these are predetermined plans managed through a third-party stock administrator."

Another Pfizer officer, executive vice president Sally Susman, also sold shares Monday as part of a prearranged plan. Susman sold 43,662 shares at the same $41.94 price that Bourla sold at, a transaction valued at more than $1.8 million.

Many executives sell stock at predetermined intervals to diversify their portfolios. But they can delay the sales to avoid appearances of capitalizing on one-off events that can boost company's shares.

Bouria told CNN's Sanjay Gupta that he learned of the trial's results Sunday, a day before they were made public.

Shares of Pfizer surged nearly 8% Monday and were flat Tuesday. BioNTech's (BNTX)stock has rallied even more sharply, rising 15% Monday and another 8% Tuesday. Pfizer's stock fell more than 1% Wednesday.

The Pfizer stock sale comes just a few months after executives at Moderna (MRNA), a biotech also working on a Covid-19 vaccine, sold shares following the release of promising trial results.

Critics accused Moderna of overhyping the vaccine trial results, but the company nonetheless raised $1.3 billion in a stock sale immediately following the vaccine trial announcement.

Executives then sold tens of millions of dollars worth of Moderna shares before the company's stock price fizzled a week later.

Some former SEC officials called on Moderna to be investigated for potential illegal market manipulation.

As the coronavirus pandemic sparks calls for more state intervention, emerging economies face tough choices to determine whether an increased role for government will have positive or negative long-term consequences.

The latest Transition Report from the European Bank for Reconstruction and Development (EBRD) says 45 per cent of people in the EBRD’s post-communist economies now favour higher levels of state ownership.

Citizens also increasingly expect the state to be able to reduce the health and economic risks they face.

Past epidemics have been shown to leave a large dent in people’s trust in the economic and political institutions that underpin democracy and the market economy.

The new report shows that individuals reaching adulthood during major recessions tend to have more positive views of public ownership and income redistribution.

In her foreword to the publication, entitled The State Strikes Back, the EBRD’s Chief Economist Beata Javorcik says the ability of emerging economies to deliver successful policies against a backdrop of increasing state influence depends crucially on the quality of institutions and public governance.

“The economies of the EBRD regions stand at a crossroads, with decisions on policies and institutions that are taken now potentially determining their paths for decades to come. The current period of crisis and upheaval triggered by the global pandemic represents a valuable opportunity to lay the foundations for a wealthier, fairer and greener future,” says Javorcik.

Weak institutions would allow the “grabbing” hand of the state to siphon off resources meant for people in need, give jobs to friends and family and let state banks be used for political gain.

Firms that could not operate profitably in a low-carbon economy may be kept alive as “zombie companies”, and firms that are nationalised during the pandemic may never be privatised.

On the other hand, good governance would allow the “caring” hand of the state to guide economies through the transition to a green economy, transparently providing essential support and adopting forward-looking policies.

Javorcik notes that privatisation, deregulation and measures to reduce state interference in the economy were the dominant trend following the collapse of communism in the late 1980s.

The EBRD was created at this time precisely to promote a smooth transition to private-sector-driven market economies.

Since then, however, the 2008-09 global financial crisis and subsequent recession have demonstrated that market forces alone will not always provide socially optimal outcomes and government intervention is needed to combat climate change and to deal with the increasing challenge of economic inequality.

The EBRD combines its investments across 38 emerging economies with support for policy reform that fosters good governance, economic inclusion and sustainable development.

The new report notes that state-owned enterprises continue to play an important role in the EBRD regions, providing almost half of all public-sector employment. It says they can be a stabilising force for economies, providing employment during downturns and in disadvantaged regions.

However, governments are not particularly effective in the management of state enterprises, which are likely to be less innovative than their private-sector counterparts.

State-owned banks have grown in importance across the EBRD regions since the mid-2000s and become major competitors to the private sector, because many have less stringent lending standards, lower net interest rate margins and a higher tolerance of non-performing loans.

A willingness of state banks to assume risks can help soften the impact of economic shocks. On the downside, however, firms that borrow from the state financial sector tend to be less innovative and show weaker productivity growth.

This is partly a reflection of the fact that state-owned banks may be more susceptible to political interference in their lending decisions and so channel finance away from more productive firms.

The report also says that EBRD economies are falling behind in the enforcement of policies that help reduce carbon emissions, in the wake of the 2015 Paris Agreement.

In the short term, the EBRD regions have to build transition to a green economy into post-Covid-19 recovery plans. In the medium term, the state must address the market and policy failures that are impeding the transition to a green economy, with an emphasis on effective carbon-pricing strategies.

In the longer term, the state will have to facilitate the “creative destruction” that the low-carbon transition will inevitably unleash. This will involve supporting workers and communities that will suffer from the economic transformation.

General Secretary of Mongolian People’s Party Amarbayasgalan.D gave an interview to a local daily newspaper on the occasion of party’s 100 years Anniversary, which will take place next year.

During his interview Amarbayasgalan.D mentioned Khurelsukh.U, Zandanshatar.G, Nyamdorj.Ts, Batbold.S and Enkhtuvshin.U as five possible candidates who could run for the President from the Mongolian People’s Party (MPP) in the 2021 Mongolian Presidential Election.

Amarbayasgalan.D also said, “Party members are talking about several more possible candidates. Members of our party have suggested to me, as a General Secretary of the MPP, the potential candidates could be nominated as a runner for the 2021 Presidential elections. Like any other political party MPP have many potential candidates who are capable of running for the Presidency. Many party members and politicians alike have expressed their requests to nominate the Party Chairman Khurelsukh.U as a runner. There are many requests that Mr Zandanshatar.G, a Speaker of the Mongolian State Great Khural should be nominated as well. Therefore, the Speaker of the Parliament is also a possible choice. Furthermore, former Chairmen of MPP and politicians who have served as Prime ministers are being mentioned. Batbold.S, MP who formerly served as Chairman of MPP and the Prime Minister has been nominated by members. Former Minister of Justice and Speaker of Parliament, Nyamdorj.Ts has also been mentioned. Former Chairman of MMP Enkhtuvshin.U has been mentioned as well. Besides, MPP has potential female candidates who could run for the Presidential elections.”

The high-profile trial of a former Mongolian Prime Minister has been attracting much attention. Earlier today (11 November), the High Court of Mongolia decided to reduce the sentences of former PM M.Enkhsaikhan by six months.

On May, he was sentenced to four-and-a-half years in prison and banned from public office for four years.

M.Enkhsaikhan is accused of political sabotage and the abuse of power over an ‘unsigned’ agreement regarding the Tavan Tolgoi coal mine project.

The former politician returned from Stockholm in 2019, where he had been serving as Mongolian Ambassador to Sweden since 2017.

M.Enkhsaikhan served as the prime minister of Mongolia from 1996 to 1998; as such, he was the first in 80 years not belonging to the Mongolian People’s Revolutionary Party.

HANGZHOU, China (Reuters) - Alibaba sales for its post-COVID-19 Singles’ Day shopping extravaganza hit $74 billion, a haul that was overshadowed by a 10% drop in its shares on Wednesday after China published draft anti-trust rules aimed at internet platforms.

The world’s biggest sales event - eclipsing Black Friday and Cyber Monday in the United States - spanned 11 days this year, and brought sellers on AliBaba’s platforms 21 times as many orders by value as Amazon.com Inc’s two-day global Prime Day last month.

Such is its size that its performance is widely considered indicative of China’s post-virus economic recovery.

Alibaba rivals JD.com Inc and Pinduoduo Inc as well as firms such as Douyin - the Chinese version of Beijing ByteDance Technology Co Ltd’s TikTok - also held Singles’ Day events.

“Because of COVID-19, many Chinese cannot go overseas,” Vice President Liu Bo told reporters. “This actually stimulates online consumption.”

Alibaba gave shoppers more time to shop this year, setting primary discount days for Nov. 1 through Nov. 3 as well as the usual Nov. 11, and is calculating gross merchandise volume (GMV) over all 11 days.

GMV hit 498.2 billion yuan ($74.1 billion) Alibaba said, as lockdown-weary consumers splashed out on as many as 16 million discounted goods at the event.

JD.com, which started promotions on Nov. 1, said it generated 271.5 billion yuan in trade over the same period.

The performance provided little relief for Alibaba investors as they focused on the proposed anti-monopoly rules that could increase scrutiny on e-commerce marketplaces and payment services.

Alibaba Group Holding Ltd’s Hong Kong-listed shares closed 9.8% down, in line with other Chinese tech giants. The group lost about 10% of its market value last week when regulators scuppered the listing of fintech affiliate Ant Group.

Its New York-listed shares fell 1.3% before recovering slightly to trade 0.9% up by 1756 GMT.

The event, launched in 2009, is usually a glitzy, single-day affair with live performances. Last year, it clocked record GMV of $38.4 billion. This year, U.S. singer Katy Perry appeared at Alibaba’s gala, albeit via livestream.

As well as offering straightforward price cuts, the event allowed shoppers across Alibaba’s platforms to play mobile games for deals, combine purchases across shops and place orders in the sale’s early hours to get the best offers.

Over 340 firms, including Apple Inc, L’Oreal SA and Huawei Technologies Co Ltd [HWT.UL], exceeded 100 million yuan in sales, with 13 brands recording GMV above 1 billion yuan, Alibaba said.

Analysts also expect this year to be a boon for luxury brands, as consumers accustomed to going overseas for high-end goods have been thwarted by coronavirus border closures.

But many shoppers had modest budgets.

A poll of Singles’ Day spending by Sina Entertainment found just 4% of 191,000 respondents planned to splurge over 10,000 yuan, versus 43% who aimed to spend less than 1,000 yuan.

“The consumer and spending data we’ll see coming out of 11.11 will be a terrific way to identify high-potential new products, trending brands and top categories,” said Deborah Weinswig, CEO and Founder of Coresight Research, a global research firm specialising in retail and technology.

To encourage spending, livestreamers thronged pop-up film studios at a building near Alibaba’s Hangzhou headquarters, touting the merits of goods on sale.

Luo Lima estimated she had been on camera promoting maternity products for 24 hours over the course of this year’s sales period, versus six hours on Singles’ Day two years ago.

“We stream continuously for six hours, with no break,” she said. “We start by eating a full meal, and getting in a good state of mind. We also prepare throat lozenges and vitamin drinks.”

Reporting by Josh Horwitz in Hangzhou; Additional reporting by Sophie Yu in Beijing, Ritsuko Ando in Tokyo and Melissa Fares in New York; Writing by Brendah Goh and Emelia Sithole-Matarise; Editing by Edwina Gibbs, Christopher Cushing and Barbara Lewis

A lockdown has been enforced in Mongolia’s capital after its first locally transmitted coronavirus case was confirmed on Wednesday, local media reported.

Strict restrictions, including suspension of academic activities and movement curbs, will be imposed in Ulaanbaatar for the next three days, state agency Montsame News reported.

The decision was taken after a woman was infected by her husband, a truck driver who was in home isolation after testing positive for COVID-19.

The government has started tracing all the couple’s known contacts, the report said.

All educational institutes, including kindergartens, schools, universities, and training centers, in the capital have been closed, along with public facilities such as theaters, museums, and cinemas.

Vehicular and rail traffic to and from Ulaanbaatar has also been restricted for the next three days.

Authorities also decided to curb cross-border movement, especially with Russia, which is among the world’s hardest-hit countries.

The Altanbulag border checkpoint with Russia will be closed for two months, starting Nov. 16 to Jan. 18, 2021.

Tes, Artssuuri, Ulikhan, Ereentsav, and Borshoo border points are to be closed for an indefinite period from Nov. 16, according to the report.

As of Nov. 11, at least 40 truck drivers who came back from Russia through Altanbulag have tested positive for COVID-19, it added.

Mongolia has registered 382 coronavirus cases so far, with a majority of them being people who traveled overseas.

There has been no virus-related fatality in the country to date.