Buildings reportedly shake and sirens blare around the Colombian capital as people rush into the streets.
A powerful magnitude 6.3 earthquake has shaken the Colombian capital of Bogota, according to the United States Geological Survey (USGS).
Reporters of the AFP news agency on the ground said buildings shook and sirens sounded around Bogota as people rushed out onto the streets for safety on Sunday.
The German Research Centre for Geosciences (GFZ), however, said it was a magnitude 6.5 earthquake, with the epicentre at a depth of 10km (6.21 miles).
June 7 (UPI) — Thousands converged to celebrate the 50th anniversary of the Capital Pride Parade Saturday in Washington, D.C., amid an extended WorldPride LGBTQ+ celebration.
The two-day WorldPride Music Fest and parade marked Saturday’s portion of a three-day celebration of Capital Pride that concludes on Sunday.
The event is billed as the “world’s largest LGBTQ+” celebration and includes a music festival that is being held on three stages and features performers like Jennifer Lopez.
“Over the years, your love and your support have been a source of strength for me, and today I am here to celebrate with you,” Lopez said during her performance Friday night at the event’s RFK Campus Festival Grounds.
“I’m so happy to be able to be here to celebrate community, diversity, love and freedom,” Lopez told her audience.
Musical acts scheduled to perform on Saturday include RuPaul, Troye Sivan and Rene Rapp, Sofi Tukker, Purple Disco Machineand others.
Saturday’s Capital Pride Parade began at 2 p.m. EDT and lasted for six hours as it proceeded from the intersection of 14th and T Street N.W. and through Thomas Circle before turning onto Pennsylvania Avenue and concluding near the Navy Memorial.
Spectators and visitors filled restaurants and drinking establishments along the parade route.
Parade participants included cheerleaders, a 300-member choir and volunteers holding a 1,000-foot rainbow flag.
Deacon Maccubbin, who organized the first Capital Pride Parade in 1975, served as the parade’s grand marshal. So did actresses ReneeRapp and Laverne Cox.
Singer and actress Cynthia Erivo was scheduled to headline a parade-ending concert at 3rd Street and Pennsylvania Avenue.
The extended WorldPride event annually rotates among leading world cities and got underway on May 17 in Washington, D.C.
The event concludes on Sunday with a rally and march that begins at the Lincoln Memorial and ends at the U.S. Capitol.
The Central Bank of Kenya (CBK) plans to lift its 10-year ban on issuing new banking licenses on July 1.
This change will open the market to fintechs and digital banks, which is expected to increase market competition and, possibly, bank consolidations as small banks are forced to merge or exit the industry.
“Fintechs will drive innovation in the sector, prompting traditional banks to adopt new technologies to stay competitive,” says Anne Kibisu, a banking analyst at Deloitte Kenya.
New and existing banks will face new capital requirements enacted in December 2024 under the Business Laws (Amendment) Act 2024. By 2026, banks will be required to maintain KES10 billion ($77 million) in capital.
This development follows a similar capital increase in 2009, when the requirement was raised from KES250 million to KES1 billion. That change prompted mergers, including KCB’s acquisition of National Bank in 2019. Analysts predict a similar wave of consolidation as smaller banks struggle to meet the new capital targets.
The central bank reports that 12 banks face a combined capital shortfall of KES11.8 billion. To comply with the new requirements, these banks needed to raise KES3 billion by December 2024, KES6 billion this year, and eventually KES10 billion by 2026.
“These increased capital thresholds are designed to help banks absorb economic shocks and continue supporting sustainable growth,” said CBK Governor Kamau Thugge.
Since December 2023, 27 of Kenya’s 39 licensed banks have met the new capital requirement. The remaining 12, primarily smaller banks with limited branch networks, now face significant pressure to recapitalize or merge with larger institutions.
“We are actively exploring strategic partnerships to meet the new capital requirements,” said an executive from an affected bank. “Mergers are also being considered.”
The CBK is expected to guide the consolidation process, as it did during the 2015-2016 banking crisis, which saw the collapse of Imperial Bank and Chase Bank. By 2027, Kenya’s banking sector is expected to be more robust and consolidated.
My two-day trip to Paris – the city of love – was an eye-opener to say the least and made me realise one huge plus to travelling so spontaneously
05:30, 01 Jun 2025Updated 12:38, 01 Jun 2025
Reporter Ashley Bautista managed a 48-hour round-trip to Paris – and she has no regrets(Image: Reach plc)
2025 is the year of spontaneity, at least for me. I told myself that I’d say ‘yes’ to doing things that I usually wouldn’t agree to do – no overthinking and simply just doing it. Six months into the year, I have zero regrets.
When the opportunity for a spontaneous weekend trip to Paris came up, of course, I said yes. For a little context, out of nowhere, my parents decided to go on a weekend jaunt to celebrate Mother’s Day. Paris is known to be ‘the city of love’, and it’s not too far from home, so I decided to join them for a literal 48-hour trip. Leaving on Saturday early in the morning, we drove from London to Paris – yes, drove – and came back on Sunday, just past midnight.
London is one of the most expensive cities in the world. So, I thought, if I’m going to spend £100 on a night out, why not go abroad, instead? Plus, the weather in Paris was so much better and warmer than London, so that gave me the ultimate push.
Paris, dubbed ‘the city of love’, is one of the most visited cities in the world(Image: Getty Images)
When it comes to holidays, it’s hard to see and do everything in one trip. On average, UK travellers spend over a week on their holidays abroad. Thankfully, I had already been to Paris, so there wasn’t anything in particular that I wanted to see. Just be there and enjoy the moment.
My really good friend joined us on the trip, and funny enough, she had also been to Paris, but didn’t get the chance to see the Eiffel Tower. I mean, who could miss the 1,083ft tall structure the city is so famous for? So, we made it our mission to visit it – and it was probably the thing we ended up seeing the most, if not the only tourist attraction we beelined.
We walked around the city, sat in coffee shops, did some shopping, and even bar-hopped during the night to make the most of the ‘happy hour’. And honestly, excluding the accommodation and the travel expenses, I don’t think I’ve spent more than £100 – which it got me thinking, why am I not doing this more often?
Gustave Eiffel, the creator of the Eiffel Tower, originally submitted his design to Barcelona – but the city declined for aesthetic reasons(Image: Ashley Bautista)
We all know that things in 2025 have become much more expensive than they were 10, 20, and even 30 years ago. Going out during the weekend in London has become an occasional treat for many. Let’s be real – the price of drinks, public transport, club entries, taxis, cigarettes… You always end up spending outrageous amounts of money, so is it even worth it?
What a night out would cost you is a plane ticket to a European country, and the expenses are more likely to be less than London prices. Plus, if you want to go abroad without using your annual leave, weekends are the perfect time to do it.
In the end, it wasn’t just about saving a few extra pounds or going on a holiday. It was more about saying yes to things because some of the best memories come from impulsive decisions. Here’s to many more spontaneous last-minute trips that will cost me less than a London night out!
Sejong, South Korea – By the standards of South Korea’s teeming metropolises, Sejong is not much of a city.
With a population of 400,000 people, Sejong, a planned city located about 100km (62 miles) south of Seoul, does not even crack the top 20 urban centres.
But if South Korea’s likely next president has his way, Sejong could soon become the country’s “de facto” capital.
Lee Jae-myung, the overwhelming favourite in Tuesday’s presidential election, has pledged to relocate the presidential office, legislature and numerous public institutions to Sejong as part of a renewed push to establish a new administrative capital.
“I will make Sejong the de facto administrative capital and Daejeon a global science capital,” Lee said in the run-up to the election, referring to the nearby central city.
“I will also push for the complete relocation of the National Assembly and presidential office to Sejong through social consensus.”
Sejong was conceived of in 2003 by late President Roh Moo-hyun, who believed that moving the capital would achieve the twin aims of reducing congestion in Seoul and encouraging development in South Korea’s central region.
Roh’s ambitions for Sejong were dealt a setback the following year when the Constitutional Court ruled that Seoul should remain the capital.
While the prime minister’s office and about a dozen ministries have moved to Sejong over the years as part of successive governments’ decentralisation efforts, Seoul has remained not only the official capital but also the centre of political, economic and cultural life.
Greater Seoul is home to about 26 million people – half of South Korea’s population – and most of the country’s top companies, universities, hospitals and cultural institutions are clustered in the region.
Streets in Sejong are uncrowded [David D Lee/Al Jazeera]
On a recent Friday afternoon, Sejong’s wide streets were mostly quiet, a world away from the bustling alleyways of downtown Seoul.
At the city’s express bus station, a number of government workers were waiting on a bus to take them to the capital.
Kevin Kim, a 30-year-old civil servant, travels to Seoul for the weekend at least twice a month.
“My family, friends and girlfriend are in Seoul,” Kim, who has lived in Sejong for nearly two years, told Al Jazeera.
“I have to go to Seoul, as all the big hospitals are there.”
Lee Ho-baek, who works for a start-up in Sejong, also visits Seoul several times a month.
“There just isn’t enough infrastructure or things to do in the city for us,” he told Al Jazeera, explaining that he is not sure if he will stay much longer despite having moved to Sejong only a year ago.
After years of roadblocks to Sejong’s development, including concerns about costs and constitutional legitimacy, candidate Lee’s pledge has stirred tentative signs of growth in the city.
In April, real estate transactions increased threefold compared with the same period the previous year.
But with Sejong’s fortunes so closely tied to the changing whims of politicians, there are concerns about its long-term sustainability.
During discussions about the possible relocation of the presidential office and legislature by Lee Jae-myung’s Democratic Party in 2020, apartment prices jumped by 45 percent – only to decline in the following years.
In Sejong’s Nasung-dong, a central neighbourhood surrounded by parks, shopping centres and flashy apartments, the streets were quiet as Friday afternoon turned into evening.
M-Bridge, a highly anticipated multifunctional mall designed by global architect Thom Mayne’s firm, was largely empty.
According to the Korea Real Estate Board, Sejong has a 25 percent vacancy rate for mid- to large-sized shopping centres, the highest rate in the country.
Few draws for young people
“In our city, the weekdays are busier than the weekends,” Jace Kim, a restaurant owner who came to Sejong in 2015, told Al Jazeera.
“Most public workers who work within the city spend their time and money outside of the city limits. Our city is relatively small and newly built, so it’s ideal for mothers and children. But we don’t have any universities or major companies that will attract young people to come here.”
Moon Yoon-sang, a research fellow at the Korea Development Institute (KDI), said Washington, DC, could be a model for Sejong’s growth and development.
“If the centre of the government moves to Sejong, it’s the hope that conventions and important meetings will happen there instead of in Seoul,” Moon told Al Jazeera.
“Today, there are only two major hotels in the city, but people are expecting a monumental effect with the moving of the National Assembly.”
Park Jin, a professor at KDI’s School of Public Policy and Management, said he supports Sejong becoming the official capital.
After the 2004 Constitutional Court ruling, relocating the capital would require an amendment to the constitution, which would need to be approved by two-thirds of the National Assembly and half of voters in a referendum.
In a 2022 survey by Hankook Research, 54.9 percent of respondents said they approved of moving the capital to Sejong, but 51.7 percent disapproved of moving the National Assembly and the president’s office out of Seoul.
The central park in Sejong, South Korea, pictured on May 2, 2025 [David D Lee/Al Jazeera]
“As all of the country’s talent pool and key infrastructure are staying within Seoul, the country needs to invest in developing our other major cities,” Park told Al Jazeera.
“For Sejong, this means combining with neighbouring Daejeon to become the nation’s centre for administration and research.”
Park believes that the country’s five major cities outside the greater Seoul area should have at least 4 million residents to maintain healthy urbanisation.
Busan, South Korea’s second-largest city, has 3.26 million people. Last year, the Korea Employment Information Service officially categorised Busan as being at risk of extinction due to record-low birth rates and a declining young workforce.
Population declines in regional parts of the country have been further exacerbated by internal migration to Seoul. More than 418,000 people moved to the capital region last year.
Sejong has a goal of reaching 800,000 residents by 2040, roughly double its current population.
“Today, many people won’t think about moving to Sejong. In an age where it’s expected for both members of married couples to be working, it’s very difficult for both members to find jobs outside of Seoul,” Moon said.
“Maybe in the next 10 years, we might see differences in how people view Sejong.”
Park said developing a city from scratch is not a short-term project.
“But with the relocation of the capital, we can expect some real changes to happen,” he said.
U.S. investment firm RedBird Capital on Friday announced it has reached a deal to be the sole owner of Britain’s Telegraph Media Group. File Photo by Andy Rain/EPA-EFE
May 23 (UPI) — The American RedBird Capital Partners private investment firm announced a deal Friday to purchase the British Telegraph Media Group.
RedBird will pay $675 million to become the sole owner of the group, which owns The Daily Telegraph and Sunday Telegraph newspapers.
“This transaction marks the start of a new era for The Telegraph as we look to grow the brand in the U.K. and internationally, invest in its technology and expand its subscriber base,” RedBird Founder and Managing Partner Gerry Cardinale said.
RedBird said it aims to expand TMG’s presence in the United States and add new verticals such as events and travel to “maximize the commercial opportunities from a growing international and mass affluent subscriber base.”
“Telegraph Media Group is an award-winning news media organization, with exceptional journalism at its heart, supported by leading commercial expertise, a commitment to innovation and a laser focus on data to drive strategy,” TMG CEO Anna Jones said. “RedBird Capital Partners have exciting growth plans that build on our success — and will unlock our full potential across the breadth of our business.
RedBird’s deal to purchase TMG must still undergo regulatory approval after a previous bid by United Arab Emirates Vice President Sheikh Mansour bin Zayed Al Nahyan was rejected by Britain’s last government.
RedBird previously joined with Mansour’s IMI Media Group to purchase the newspapers after they were seized for outstanding debts, seekign to curtail an auction of the assets by the Barclay family.
The government, however, rejected the deal that would have seen IMI take majority ownership of the papers and passed a law barring foreign governments from owning British print media.
If approved, TMG would join other acquisitions of Redbird, which include Skydance Media, which is expected to merge with Paramount, as well as sports-focused broadcasters such as Fenway Sports Group and the YES Network, plus Formula One’s Alpine Racing team. It also owns the Italian professional football club AC Milan.
Capital One’s acquisition of Discover closed on Sunday, the two companies announced in a press release. File photo by Peter Foley/EPA
May 18 (UPI) — Capital One Financial services has completed its acquisition of former credit card rival Discover Financial Service, the companies announced on Sunday.
Capital One announced its intentions to acquire Discover in February 2024, stockholders of both companies voting in favor of the $35 billion deal a year later and federal regulators approving it in April.
“This deal brings together two innovative, mission-driven companies that together are poised to deliver breakthrough products and experiences to consumers, businesses, and merchants,” Capital One CEO and founder Richard D. Fairbank said in a press release.
Fairbank added in the statement that the new company will continue its quest to “change banking for goods for millions of customers.”
Capital One expanded its board of directors from 12 to 15 to handle the expanded company, and added that Capital One and Discover cardholders do not need to take any action and would be advised them of any future changes, “and will continue to be served through their respective Capital One and Discover tools and channels,” the release said.
The statement said the company will continue to issue both Capital One and Discover cards for the foreseeable future, in addition to the other cards it already makes available.
“The combination of our two companies will increase competition in payment networks, offer a wider range of products to our customers, increase our resources devoted to innovation and security, and bring meaningful community benefits,” Interim CEO and President of Discover, Michael Shepherd said when federal regulators approved the deal in April.
The deal could expand the number of places that accept the Capital One card, as it will move to the Discover network, allowing it to be more competitive with Visa and Mastercard, especially outside the United States.
A report by the customer watchdog J.D. Power showed that both Capital One and Discover score high approval ratings among their card holders.
