0.9 C
Beijing
Thursday, February 12, 2026

Fed’s Schmid Cautions Against Interest Rate Cuts Amid Persistent Inflation Worries

Kansas City Fed President Jeff Schmid warns against premature interest rate cuts, citing persistent inflation concerns and the need for a restrictive monetary policy.

Addentax Group Eyes Expansion with Proposed Acquisition of Hong Kong Digital Lending Platform

Addentax Group Corp. announces proposed acquisition of a Hong Kong-based digital lending platform, aiming to expand its fintech presence in the Asia-Pacific region with AI-driven credit technologies.

China’s Inflation Slows Sharply, Fueling Deflation Concerns Amidst Shifting Lunar New Year Impact

China's January inflation data shows a slower-than-expected rise in consumer prices and continued producer price deflation, fueling concerns about the economic outlook.

Seismic Activity Forces Temporary Closure of Iceland’s Blue Lagoon Spa

TravelSeismic Activity Forces Temporary Closure of Iceland's Blue Lagoon Spa

In a dramatic turn of events, Iceland’s renowned Blue Lagoon geothermal spa has temporarily closed its doors due to increasing seismic activities in the region. The closure comes in the wake of a series of earthquakes that have put the nation on high alert for a possible volcanic eruption. The most intense of these tremors, a magnitude 4.8 quake, struck shortly before 1 am on Thursday, prompting an evacuation of the spa’s guests.

Taxi driver Bjarni Stefansson described a chaotic scene upon his arrival at the Retreat Hotel, near the spa, where guests were hurriedly leaving amidst a backdrop of fallen lava rocks and a crowded parking lot. The fear of an impending volcanic eruption was palpable among the evacuees.

The Reykjanes Peninsula, where the Blue Lagoon is located, has been experiencing continuous seismic activity for over two weeks, attributed to the underground build-up of volcanic magma. The Icelandic Met Office reported a significant land rise in the area, although there were no immediate signs of an eruption.

On Friday, the situation escalated when Iceland declared a state of emergency. Two substantial earthquakes, felt as far away as Reykjavik, intensified the crisis, leading to the Department of Civil Protection and Emergency Management declaring a state of emergency for civil defense. The administration warned that the earthquake series could culminate in an eruption, with “significant changes” in magma accumulation recorded near Grindavík, a village of 3,700 residents.

Authorities initiated the evacuation of Grindavík, and scientists from the Met Office have been closely monitoring the situation. While there are no current indications that the earthquakes are becoming shallower, the possibility of a sudden change leading to a lava-producing eruption cannot be ruled out.

Iceland, located above a volcanic hotspot in the North Atlantic, experiences eruptions every four to five years on average. The most disruptive recent eruption was in 2010, involving the Eyjafjallajokull volcano. The Reykjanes Peninsula itself has witnessed three eruptions since 2021, following an 800-year dormancy period.

Vulcanologist Thorvaldur Thordarson emphasized the need for preparedness for the worst-case scenario, noting that earthquakes of magnitude 5, such as the one experienced recently, often precede eruptions. The Blue Lagoon’s management, citing guest experience disruption and employee stress, announced the closure of the resort until November 16. The decision, although criticized for delay, reflects the seriousness of the ongoing seismic threat in the region, which has recorded around 24,000 tremors since late October.

READ MORE:

Check out our other content

Check out other tags:

Most Popular Articles