Dubai Telegraph

Featured

Primark boss defends practices as budget fashion brand eyes expansion

Ireland-based budget fashion chain Primark has been criticised for its record on workers' rights and the effect of its low-cost, high-volume model on the environment.

Asian markets mixed after subdued pre-holiday shift on Wall St

Asian markets diverged Thursday as investors brushed off a negative lead from Wall Street while welcoming a drop in Treasury yields and data showing US inflation was holding steady.

Last news

Climate-stricken world needs renewables Marshall Plan: UN chief

UN chief Antonio Guterres on Wednesday outlined what amounts to a global Marshall Plan for ushering in a world powered by renewable energy rather than coal, gas and oil.

UK inflation jumps to 40-year peak

Britain's annual inflation rate surged to a 40-year high last month on rocketing energy costs, official data showed Wednesday, sparking opposition calls for the government to announce an emergency budget to combat a cost-of-living crisis.

Sony brings zero-carbon goal forward 10 years to 2040

Japanese giant Sony brought forward its deadline for reaching carbon neutrality by a decade on Wednesday, saying it is now targeting net-zero emissions across its business by 2040.

Kyiv seeks evacuation of Azovstal fighters, first war crimes trial begins

Ukraine was seeking to evacuate the last soldiers holed up at the Azovstal steelworks in Mariupol on Wednesday, its president said, as the first war crimes trial of a Russian soldier since the invasion began was set to get under way in Kyiv.

Asian markets mixed after US retail data boosts Wall Street

Asian stocks were mixed Wednesday following a strong start in some markets, which took the lead from Wall Street where traders were cheered by brisk US retail sales data.

Pakistan and IMF to meet over release of funds as economy falters

The International Monetary Fund will begin talks with Pakistani officials on Wednesday over the release of crucial funds, a process slowed by concerns about the pace of economic reforms in the South Asian country.

Morocco 'breathing again' as tourists back after Covid shutdown

Moroccan snake-charmer Youssef watched as long-absent tourists again thronged Marrakesh's famous Jamaa El-Fna square, ending a long pause forced by the Covid pandemic.

How Tom Cruise survived the end of the star era

Tom Cruise jets into Cannes on Wednesday for the first time in 30 years to launch "Top Gun: Maverick", and much has changed in the film industry since his last visit -- except his continued box office power.

Japan 1st-quarter GDP shrank as Omicron wave hit

Japan's economy shrank slightly in the first quarter of 2022, official data showed Wednesday, hit by Covid-19 restrictions and higher prices.

Netflix trims staff to weather slowing growth

Netflix on Tuesday said it laid off about two percent of its staff in a belt-tightening move after growth slowed at the once-booming streaming television service.

Russia says hundreds of Ukrainians surrender at Azovstal, Kyiv urges swap

Hundreds of Ukrainian soldiers who held off Russian fighters at the besieged Azovstal steelworks in Mariupol have surrendered, Moscow said Tuesday, as Kyiv called for an immediate prisoner swap.

Pollution behind 1 in 6 global deaths in 2019: study

Pollution caused some 9 million people to die prematurely in 2019, according to a new global report published Wednesday, with experts raising alarm over increasing deaths from breathing outside air and the "horrifying" toll of lead poisoning.

US consumers remain resilient even as prices rise

US consumers continued to increase spending in April, remaining resilient in the face of accelerating inflation, but retail giant Walmart still saw a big hit to its bottom line due to rising costs, according to reports released Tuesday.

Global stocks rally eyeing China reopening

Global stock markets rallied Tuesday on hopes that China will ease its weeks-long Covid lockdown and gradually reopen businesses.

Retail data shows US consumer resilience as costs hit Walmart

Walmart reported a drop in profits Tuesday as higher operating costs dented its bottom line, while April data showed another increase in US consumer spending in spite of rising prices.

Covid cut 2020 US wedding numbers to lowest since 1963

The Covid-19 pandemic took a toll on weddings in the United States, with only some 1.6 million marriages occurring in 2020 -- the lowest number since 1963, figures show.

Guitar that broke up Oasis sells for $390,000

Noel Gallagher's Gibson guitar, which was broken in 2009 at the same time as the British group Oasis imploded, sold for 385,500 euros at an auction in Paris on Tuesday.

United Airlines says regulators approved return of Boeing 777s

US air safety regulators have cleared United Airlines to resume service on more than 50 Boeing 777 planes that were grounded over engine issues, a United executive said Tuesday.

US authorizes Covid booster shots for children 5 to 11

Children as young as five in the United States will now be able to receive a booster dose of Pfizer's Covid-19 vaccine, the nation's health authorities announced Tuesday.

Markets rally eyeing China reopening

Global stock markets rallied Tuesday on hopes that China will ease its weeks-long Covid lockdown and gradually reopen businesses.

UK unveils radical rewrite of EU pact for N. Ireland

The UK government on Tuesday unveiled a plan to drastically overhaul post-Brexit trade rules in Northern Ireland, arguing the changes are needed to end political paralysis in the divided territory.

Spanish cabinet approves paid 'menstrual leave'

Spain's cabinet on Tuesday approved a bill that grants paid medical leave for women who suffer from severe period pain, becoming the first European country to advance such legislation.

Iran Oscar winner rejects plagiarism claims at Cannes

Iran's two-time Oscar winner, director Asghar Farhadi, gave a lengthy rebuke of claims that he plagiarised his last movie "A Hero" on Tuesday in Cannes.

Stocks rally as Shanghai reopening cheers markets

Hong Kong led a rally across stock markets Tuesday on hopes that China's economic hub Shanghai will ease its weeks-long lockdown and gradually reopen businesses.

Walmart profits hit by costs as some consumers shift behavior

Walmart reported a drop in profits Tuesday due to higher costs for labor, food and fuel as it pointed to some consumers shifting away from discretionary items amid high inflation.

Walmart reports 25% drop in profits, citing higher costs

Walmart reported a drop in profits Tuesday, citing higher costs for labor, food and fuel in earnings that missed analyst expectations and sent shares lower.

Vodafone calls up surging annual profit

British telecoms giant Vodafone on Tuesday logged surging annual net profit on rising sales and sliding tax, one day after revealing that an Emirati firm has become its biggest investor.

Stocks rally on Shanghai reopening hopes

Hong Kong led a rally across stock markets Tuesday on hopes that China's economic engine Shanghai will ease its weeks-long lockdown and gradually reopen businesses.

Togo reopens its borders after two years

The West African state of Togo said it would reopen its land borders on Tuesday after closing them more than two years ago to help prevent the spread of coronavirus.

Brazilian football clubs open doors to foreign investors

A new law allowing Brazilian football clubs to operate as companies has opened the door for foreign investors to buy teams in the spiritual home of the "beautiful game," following in Europe's footsteps.

UK unemployment dips but wages hit by inflation

Britain's unemployment rate has fallen further to a near five-decade low, official data showed Tuesday, but the value of wages continues to erode as inflation soars.

Musk says no Twitter deal without clarity on spam accounts

Billionaire Elon Musk said Tuesday that his purchase of Twitter would not go ahead unless he was given assurances on the bots that he says plague the platform, further complicating his acrimonious bid for the social media giant.

Asian stocks rally on hopes of Shanghai gradually reopening

Hong Kong led a rally across Asian markets Tuesday on hopes that China's economic engine Shanghai will ease its weeks-long lockdown and gradually reopen businesses, though analysts caution against any long-term relief.

Wheat-laden trucks, ships stranded at Indian port

Hundreds of thousands of tonnes of wheat were stranded at a major port in India on Tuesday after New Delhi's surprise ban on exports over inflation and food security worries.

Thailand's economy rebounds after Covid battering

Thailand's economy grew 2.2 percent in the first quarter as exports and tourism rebounded after the relaxation of pandemic restrictions, the country's main economic agency said Tuesday.

China's zero-Covid policy to hit Asia aviation recovery: IATA

China's zero-Covid policy will hold back a full air travel recovery in the Asia-Pacific region, a top airline industry group warned Tuesday, adding to calls for Beijing to ease its hardline stance.

Spain, Morocco reopen land borders after two-year closure

Morocco and Spain have reopened the land borders between the north African country and the Spanish enclaves of Ceuta and Melilla, two years after they were shut due to Covid restrictions and a major diplomatic row.

Asian stocks up after Wall Street dip on China's Covid-bruised data

Asian stocks rose Tuesday despite a lukewarm lead from Wall Street after weak Chinese economic data showed the deep cuts of Beijing's zero-Covid policy and added to inflation worries.

White House hits back after Bezos knocks Biden on economy

The White House on Monday uncharacteristically lashed out at Amazon founder Jeff Bezos, after he openly criticized the Biden administration's fiscal and economic policies on Twitter.

Dubai Telegraph - Economy (English)