Dubai Telegraph

Homemade library builds bookish community in S.Africa's Soweto

Behind an unmarked gate, on a residential street in South Africa's Soweto township, Thami Mazibuko makes his way down a corridor and up a stairwell, all lined with books.

China cuts coal import taxes to zero to ensure energy supply

China will slash coal import tariffs to ensure energy security, the finance ministry said Thursday, the latest move to cast doubt on the country's environmental promises.

Countrywide strike cripples crisis-hit Sri Lanka

A general strike crippled Sri Lanka on Thursday, as demands grew for President Gotabaya Rajapaksa and his family members to resign over the country's worst-ever economic crisis.

Samsung Electronics Q1 net profit up almost 60 percent

South Korean tech giant Samsung Electronics posted a near 60 percent rise in first-quarter net profits on Thursday, largely driven by steady memory chip demand and brisk smartphone sales.

Nokia's Q1 profits eroded by Russia withdrawal

Finnish telecom equipment maker Nokia on Thursday announced a 17 percent fall in quarterly profits due to its withdrawal from Russia and supply problems but said it would meet this year's target.

Bank of Japan hikes inflation forecast on soaring energy prices

Japan's central bank hiked its full-year inflation forecast on Thursday but cautioned that it sees rising prices, driven by a surge in commodity costs cause by the Ukraine war, as a volatile and temporary trend.

Indonesia suspends all exports of palm oil

Indonesia began imposing a complete ban on palm oil exports Thursday, as the world's largest producer of the commodity risked destabilising a global vegetable oil market already hitting peak prices.

Surge in prices creates headache for Germany's brewers

The Veltins brewery in Germany was already wrestling with pandemic-spurred hikes in ingredient and transport costs over the last year, but a surge in energy prices sparked by Russia's invasion of Ukraine threatens to be a bitter pill for the business.

First 'Avatar 2' footage shown as Disney, Universal hit CinemaCon

James Cameron said his long-delayed sequel to "Avatar," the highest-earning movie of all time, would "push the limits of what cinema can do," as Disney and Universal presented first looks at their upcoming movies in Las Vegas Wednesday.

Samsung Electronics Q1 net profit up 58.57 percent

South Korean tech giant Samsung Electronics posted a 58.57 percent rise in first-quarter net profits on Thursday, largely driven by steady memory chip demand and brisk smartphone sales.

Ford confirms 2022 profit outlook despite lingering semiconductor crunch

Ford confirmed its 2022 profit outlook Wednesday despite lower quarterly auto sales as strong vehicle pricing offsets the hit from higher operating costs and the ongoing semiconductor chip shortage.

Facebook parent Meta calms investors with strong profit

Facebook parent Meta on Wednesday reported better profit than expected in the recently ended quarter, calming investors worried about the toll of competition from TikTok and eased pandemic restrictions on the company.

Jobs crisis widening as boomers retire: Canada statistical agency

A record number of baby boomers that are set to retire from the labor force threatens to compound a worker shortage in Canada, according to data from a 2021 census released Wednesday.

Musk's Twitter purchase puts moral champion in crosshairs

The fate of Twitter's top attorney, deemed a moral champion of the platform, was in doubt Wednesday after Elon Musk tweeted displeasure with content moderation she had carried out.

UN report warns of lower economic growth for Latin America in 2022

Economic growth in Latin America and the Caribbean will be lower than expected at 1.8 percent this year due to the war in Ukraine, a UN body said Wednesday.

Boeing shares dive as 777X, Air Force One woes lead to $1.2 bn loss

Boeing shares were in free-fall Wednesday after the aviation giant reported a $1.2 billion loss in an ugly quarter weighed down by fresh one-time costs on its Russia business, the Air Force One presidential jet and the new 777X plane.

US indicts Archegos founder Hwang for fraud, market manipulation

US authorities on Wednesday arrested Archegos founder Bill Hwang and charged him with securities fraud and market manipulation following the fund's spectacular implosion last year that cost large banks billions of dollars.

In Ukraine, displaced families replace the tourists

Large blue and yellow wings splayed behind her, Marina speeds gracefully on her scooter in western Ukraine, determined to smile despite little hope of finding tourists wanting a henna tattoo.

Boeing shares dive as 777X delay, Air Force One woes lead to $1.2 bn loss

Boeing shares were in free-fall early Wednesday after the aviation giant reported a $1.2 billion loss in an ugly quarter weighed down by fresh one-time costs on its Russia business, the Air Force One presidential jet and the new 777X plane.

European and US stocks rise but euro hits 5-year dollar low

European and US stock markets rose Wednesday after recent sharp losses, but the euro struck a five-year low against the dollar as traders weighed widespread economic unrest.

Boeing reports $1.2 bn loss on 777X delay, Russia costs

Boeing reported a $1.2 billion first-quarter loss Wednesday, hit by a series of new one-time costs on its Russia business, the Air Force One presidential jet and the new 777X plane.

Russia hits West-supplied arms in Ukraine, cuts gas to Poland, Bulgaria

Russia said Wednesday it had destroyed a large quantity of Western-supplied weapons in Ukraine, while halting gas supplies to EU and NATO members Poland and Bulgaria in a move Brussels branded attempted blackmail.

Veteran Hong Kong actor found dead in quarantine hotel: reports

Kenneth Tsang, a stalwart of the "Golden Age" of Cantonese cinema, was found dead in a Hong Kong hotel room on Wednesday while undergoing mandatory quarantine after returning from overseas, local media reported.

Asian markets sink as European stocks steady, eyes on Ukraine

Asian markets were back in negative territory Wednesday following a rout on Wall Street as traders are faced with a perfect storm of crises including China's Covid-linked economic woes, US interest rate hikes, soaring inflation and the Ukraine war.

India slashes size of biggest IPO

India has slashed the size of an initial public offering by insurance giant LIC but the share issue will still be the country's largest to date, with a targeted windfall of $2.7 billion, regulatory filings showed Wednesday.

Chinese drone maker DJI suspends Russia, Ukraine business

The world's largest drone maker DJI has said it will suspend all business operations in Russia and Ukraine, in a rare public move by a Chinese firm since Moscow's invasion of its neighbour.

Healing by helping: Mexico's acid attack victims

After Mexican mother Carmen Sanchez left her abusive ex-partner he attacked her with acid, leaving her severely scarred. As part of her healing process, she now helps fellow victims rebuild their lives.

Hong Kong exchange profits plunge amid IPO drought, virus woes

Hong Kong's stock exchange on Wednesday reported its biggest quarterly drop in profits for six years as tightened Chinese regulations strangled new listings and the city struggled with its worst-ever coronavirus outbreak.

Despite unrest, it's business before politics in West Bank town

Violence may rage elsewhere, but it's business before politics in the occupied West Bank town of Nilin where Palestinian merchants do a brisk trade with passing Israelis.

Buying a house is mission impossible for many Americans

Home for sale. To become the proud owner, simply make a quick offer, and outbid all interested buyers by $100,000.

Russian gas stop clouds outlook for solar panel supplier

In a glassworks in Tschernitz, a stone's throw from the border with Poland, the roar of the furnaces cannot drown out worried whispers about Russian gas supplies to Germany being cut off.

Cloud computing helps power strong Microsoft quarter

Microsoft on Tuesday reported strong quarterly earnings, powered by demand for cloud computing.

US authorities urge Amazon to improve safety after tornado deaths

US regulators on Tuesday called on Amazon to improve its safety protocols after six people were killed in December when a tornado hit one of the company's warehouses in the state of Illinois.

China worries weigh on global stocks, Wall Street plummets

Stock markets mostly fell Tuesday as investors worried about the impact of the Covid outbreak in China and rising interest rates in the United States.

US says ready for migrant surge after Covid rules lifted

The US government is prepared to handle a potential gush of migrants from next month when Covid-19 rules will no longer be used to push nearly all undocumented border-crossers back into Mexico, officials said Tuesday.

General Motors lifts 2022 profit forecast after mixed Q1

General Motors lifted its 2022 net income forecast Tuesday following a mixed quarter as it benefitted from strong consumer demand amid high vehicle prices despite lingering supply chain problems.

Google-parent Alphabet see quarterly profit slip

Shares in Google's parent company Alphabet slipped Tuesday after the internet giant reported that earnings in the recently ended quarter missed market expectations, with profit down from a year earlier.

Musings and missteps mark Musk on Twitter

Elon Musk's $44 billion deal to buy Twitter will make the world's richest person the master of a global platform where he has grabbed the spotlight with musings, quips, and barbs.

China worries weigh on global stocks