Dubai Telegraph

Asian stocks fall on Wall Street rout, oil prices tumble

Asian equities mostly sank Tuesday and oil prices tumbled following a rout on Wall Street as anxieties were fanned over rising US interest rates, surging inflation and the impact of China's prolonged Covid lockdowns.

Bitcoin falls below $30,000, lowest since July 2021

Bitcoin slumped below $30,000 for the first time since July 2021 on Tuesday as cryptocurrencies track sinking markets with investors spooked by aggressive US monetary tightening and surging inflation.

Social network Grindr going public at $2.1 bn value

Social network Grindr on Monday said it has hooked up with a special purpose acquisition company to become a publicly traded company valued, out of the gate, at $2.1 billion.

Philip Morris in talks to buy Swedish Match

Tobacco giant Philip Morris International is in talks to acquire Swedish Match, the companies said Monday, in a deal that would boost its smokeless offerings.

Global stocks and oil slump on China lockdowns, interest rates

World stock markets mostly sank Monday and oil prices slumped as China's Covid lockdowns added to stubborn fears over the impact of rising US interest rates and surging inflation.

EasyJet tackles Covid staff shortage by removing seats

EasyJet plans to remove seats from Airbus aircraft this summer, allowing the British airline to fly with fewer cabin crew as it struggles with Covid absences and staff recruitment.

French court opens hearing into deadly Yemenia Airways crash

A French court opened hearings Monday in the case of the 2009 crash of a Yemenia Airways flight that killed 152 people but miraculously left a 12-year-old girl alive.

Global stocks deepen losses on rising rates, China lockdowns

World stock markets mostly sank Monday on stubborn fears over the impact of rising US interest rates, surging inflation and China's Covid lockdowns.

Sri Lanka imposes curfew after violent clashes

Sri Lankan authorities imposed a nationwide curfew and deployed the army on Monday after dozens of people were hospitalised in the biggest clashes in weeks of anti-government protests.

Indian rupee falls to new low on Fed action, inflation fears

The Indian rupee plunged to an all-time low against the greenback on Monday, as US monetary policy tightening roiled sentiment and foreign investors continued to dump domestic stocks.

Britain, Cyprus hail 'new era' on military land

Thousands of Cypriots living on British military land will have the right to develop their properties under a deal to take effect next week, ending decades of unequal treatment, officials said Monday.

Indonesia maintains steady growth in first quarter thanks to exports

Indonesia's economy maintained steady growth in the first quarter of 2022 despite global tensions, official data showed on Monday, as the nation reaped the benefits of soaring commodities prices and an easing of Covid restrictions.

Sri Lanka imposes curfew in capital after 20 injured in clashes

Sri Lankan police imposed a curfew on Monday after clashes between rival political camps, as anger builds over the island’s worst economic crisis since independence.

Asian stocks tumble on global anxieties over inflation and China lockdowns

Asian stocks fell on Monday as investors remained anxious over inflation and the ongoing impact of China's Covid lockdown policies, despite an initial Wall Street bounce thanks to a solid US jobs report.

Decades on, 'France's George Floyd' gets screen treatment

The name resonates deeply among French minorities as a symbol of police violence, but it has taken 35 years for the death of Malik Oussekine to be recounted on-screen.

China's April exports slump to lowest in two years as virus bites

China's export growth slumped in April to its lowest level in almost two years, customs data showed Monday, as a Covid resurgence shuttered factories, sparked transport curbs and caused congestion at key ports.

Yazidis displaced anew by north Iraq violence

Iraqi policeman Jundi Khodr Kalo was among thousands of Yazidis again forced to flee their homes this month, after fierce clashes between the army and local fighters in their Sinjar heartland.

Asian stocks tumble on global anxieties over inflation

Asian stocks fell Monday as investors remained anxious over inflation and the ongoing impact of China's Covid lockdown policies, despite an initial Wall Street bounce thanks to a solid US jobs report.

Jetliner aborts landing in Mexico to avoid another plane

A jetliner attempting to land in Mexico City aborted its approach at the last second to avoid hitting a plane taxiing on the runway, an airline official said Sunday.

French court to probe deadly Yemenia Airways crash

A French court will open hearings Monday in the case of the 2009 crash of a Yemenia Airways flight that killed 152 people but miraculously left a 12-year-old girl alive.

Dozens feared dead in school bombing as G7 rallies behind Ukraine

Rescuers on Sunday scrambled to find dozens of civilians feared dead in a strike on a Ukrainian school as the G7 reaffirmed their unity with Kyiv on the eve of Russia's World War II victory celebrations.

G7 countries pledge to stop Russia oil imports

The G7 club of wealthy nations committed Sunday to phasing out its dependency on Russian oil and issued a scathing statement accusing President Vladimir Putin of bringing "shame" on Russia with his invasion of Ukraine.

'Critically stable': Ukraine's last stand for easternmost hub

The dozen jumpy and exhausted soldiers cowering under a bridge from incoming shellfire formed Ukraine's last line of defence against Russia's assault on this easternmost city still held by Kyiv.

Xi warms up China's economy, but virus narrows options

President Xi Jinping has offered state backing for tech, infrastructure and jobs to revive China's economy, but analysts warn growth will continue to wilt until Beijing drops its rigid virus controls.

C.Africa's leap into bitcoin leaves its people bemused

In the Central African Republic (CAR), nine out of 10 people do not have internet, and only one in seven has electricity -- that is, when there are no power cuts.

Blooming shame: Pandemic, Ukraine war hurts Thai orchid industry

Thailand's orchid growers, already weary after two years of being battered by the pandemic, are bracing for fresh blows to their livelihood as the war in Ukraine and changing weather patterns further cloud their futures.

US companies break long silence on abortion rights

After carefully avoiding the taboo topic for decades, more and more US companies are taking a stand on the right to abortion, a sign of a new generation with growing influence and very different expectations than their predecessors.

Facing soaring rents, some US tenants are fighting back

Before the start of each month, Anh-Thu Nguyen and her two roommates send rental checks to their landlord. A few days later, the checks are mailed back.

Nigerian airlines suspend flights over soaring fuel prices

Nigerian airlines are to suspend all flights from Monday over rising jet fuel prices, an umbrella organisation of operators said on Saturday.

Pensioners swarm cash vans under fire at Ukraine front

Postwoman Iryna Fedyanina's laughter drowns out the mortar fire ringing out as she hands out pensions to the frightened masses near a river splitting Ukrainian and Russian forces.

Government pressure forces Venezuelan media to self-censor

Football fans have become familiar with final calls being made by "VAR" -- video assistant referees -- but at one of Venezuela's biggest radio groups, it also controls what news gets aired.

Indonesia seizes tanker over palm oil export ban violation

The Indonesian Navy has seized a tanker that was carrying palm oil out of the country in violation of an export ban, a spokesman said Saturday.

Soy boon for Argentina as Ukraine war boosts prices

Russia's war on Ukraine has sent grain prices skyrocketing -- a worry for consumers worldwide but potentially a boon for producers like Argentina, which hopes an influx of soybean "agridollars" will boost its faltering economy.

Warhol Monroe portrait set to smash records at New York sales

An Andy Warhol portrait of Marilyn Monroe worth an estimated $200 million headlines this month's spring sales in New York that collectors say are among the most anticipated ever.

Global stocks mostly fall despite solid US jobs data

Global stocks mostly tumbled Friday to conclude a volatile week as investors fretted over inflation and worries about slowing growth despite a solid US jobs report.

At least 75 killed in recent Haiti gang battles: UN

Clashes between two rival gangs in the outskirts of the Haitian capital Port-au-Prince have claimed the lives of at least 75 people, including women and children, in less than two weeks, the UN said Friday.

Yogurt maker Lactalis betting on US appetite

French dairy giant Lactalis is betting big on North America, adapting to local preferences to attract consumers while it manages country-specific issues, such as the extreme volatility of US milk prices.

Facebook accused of blocking Australian health sites

A whistleblower group is accusing Facebook of deliberately blocking websites for Australian hospitals and emergency services as part of a negotiating tactic last year.

Crisis-hit Sri Lanka declares emergency after crippling strike

Sri Lanka's president Friday declared a state of emergency for the second time in five weeks, giving security forces sweeping powers amid a nationwide strike by angry demonstrators who blame him for an unprecedented economic crisis.

Dubai Telegraph - Economy (English)

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