Real-time News

February 21 (Xinhua) -- A forest fire broke out in Seosan City, South Chungcheong Province, South Korea, on February 21, according to a report from the South Chungcheong Provincial Fire Department. Firefighters and other departments immediately rushed to the scene to extinguish the blaze. Because the fire originated near the Daeju Resource Reserve Industrial Complex, South Korea's largest national oil reserve facility, strong winds posed a risk of the fire spreading to critical infrastructure, causing high alert among relevant departments. At approximately 4:10 PM local time, the Seosan Fire Station raised its response level to Level 2, mobilizing all available equipment from its jurisdiction and neighboring fire stations to focus on preventing the fire from spreading towards the industrial complex.

February 21 – European Central Bank Governing Council member and Bank of Italy Governor Leon Panetta stated that the US economy has borne the brunt of President Trump's tariffs. Speaking in Venice on Saturday, he said, "Foreign exporters appear to have absorbed a portion of the losses, estimated at around 10%. Initially, this loss was absorbed by the profits of US companies, then partially passed on to consumers, who now bear about half of the losses. Overall, the tariffs are estimated to have contributed slightly more than 0.5 percentage points to US inflation."

ECB Governing Council member Panetta: Inflation risks may exist in both directions.

ECB Governing Council member Panetta: Italy's economy grew by 0.7% in 2025.

ECB Governing Council member Panetta: Monetary policy must remain flexible.

ECB Governing Council member Panetta: The US needs Europe.

ECB Governing Council member Panetta: Tariffs are causing a restructuring of trade flows.

ECB Governing Council member Panetta: Europe needs common debt to achieve growth.

SpaceX confirms deployment of 25 new Starlink satellites.

February 21st - Recently, affected by the prolonged sluggishness of the Japanese economy, the real effective exchange rate index, which reflects the overall strength of the yen, hit a 53-year low, indicating a continued decline in the yen's purchasing power. The latest data from the Bank for International Settlements shows that in January of this year, the yen's real effective exchange rate index fell to 67.73, the lowest level since Japan adopted a floating exchange rate system in 1973. The real effective exchange rate index is an important indicator for measuring a country's currency's overall real purchasing power and international competitiveness. Analysts point out that the continued weakening of the yen's purchasing power reflects the long-standing structural problems facing the Japanese economy. Insufficient economic growth momentum and persistently low interest rates in Japan are putting continuous pressure on the yen's real effective exchange rate.

According to TASS, Ukrainian drones are attempting to attack production facilities in Russia's Tatarstan region.

According to RIA Novosti, Russian troops have occupied Karpivka in the Donetsk region of Ukraine.

February 21 – Qatari Prime Minister and Foreign Minister Mohammed bin Zayed Al Nahyan spoke by phone with Iranian Foreign Minister Araqchi today, exchanging views on the current regional situation and the latest developments in the Iran-US negotiations. Both sides emphasized their commitment to strengthening communication and coordination, advancing the diplomatic process, and easing regional tensions.

White House official: Trump will not allow Iran to possess nuclear weapons or the ability to manufacture them.

According to the National Highway Traffic Safety Administration (NHTSA), Toyota Motor Corporation is recalling 4,374 vehicles in the U.S. market.

French President Emmanuel Macron: The U.S. Supreme Court's ruling on President Trump's tariffs shows that having checks and balances and the rule of law is a good thing.

February 21 – The Hong Kong Special Administrative Region (HKSAR) government held a press conference today (February 21) on the long-term housing arrangements for Hung Fook Court. Deputy Financial Secretary Michael Wong stated that the HKSAR government plans to acquire the property rights of Hung Fook Court owners through cash or a property swap, which is the fastest possible solution. The average price per square foot offered by the HKSAR government for the acquisition is HK$8,000 (before land premium payment) and HK$10,500 (after land premium payment), with a total acquisition cost of approximately HK$6.8 billion. After the acquisition, the HKSAR government plans to demolish the seven damaged buildings in Hung Fook Court and redevelop them into parks and other facilities.

February 21st - According to data from Maoyan Professional Edition, the total box office (including pre-sales) for the 2026 Spring Festival film season has exceeded 4.2 billion yuan, with "Pegasus 3", "Silent Assassination", and "Boonie Bears: The Big Adventure" ranking in the top three.

February 21st - John Weyey, Head of Commercial Hedging at Walsh Trading, stated that gold's price action following the Supreme Court tariff ruling indicates that while gold appears to have lost a bullish factor, it still possesses ample upward momentum. Gold initially fell sharply after the news, but the prevailing bullish sentiment quickly regained control. Gold is continuing to rise on its own momentum, and many market participants will maintain this strategy until the market provides a reason to be bearish. Over the past six months, market participants have bought gold for a simple reason: it's rising. This is an unprecedented rally, and I believe the market will continue to buy. Even though the tariff ruling has eliminated some uncertainty, gold will continue to rise as other risks remain.

February 21 - According to the China Development Bank (CDB), in 2025, CDB issued 786.3 billion yuan in loans to the urban renewal sector, focusing on supporting the renovation and upgrading of old urban residential areas, old streets, old factories, and urban villages, as well as the construction and renovation of urban infrastructure, the restoration of urban ecosystems, and the protection and inheritance of urban historical and cultural heritage. These efforts aim to optimize urban structure, improve functions, preserve cultural heritage, and enhance quality.