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Trump names trade envoy, top economic advisor to fill policy team

Donald Trump on Tuesday named Jamieson Greer his trade representative, a key figure in implementing the president-elect's economic agenda, particularly his plans to use tariffs to raise revenue and help bring more manufacturing to US shores.

China expected to hit peak coal consumption in 2025: report

China's coal consumption could peak by 2025 as the world's top consumer of the fossil fuel ramps up its push for clean energy, a report published on Wednesday said.

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Tesla reports record profits, bullish on 2022 output

Tesla reported another banner quarter of profit growth Wednesday on pricier vehicles and said its 2022 output plan was on track despite ongoing supply chain problems and a hit from recent Covid-19 lockdown measures in China.

United Airlines bullish on Q2 as it reports another loss

United Airlines reported another quarterly loss Wednesday on the lingering drag from Covid-19 but offered a bullish outlook based on surging travel demand.

Tesla reports Q1 profits of $3.3 bn, topping expectations

Tesla reported another banner quarter of profit growth Wednesday as the rapid expansion of electric vehicle (EV) manufacturing capacity boosted sales despite ongoing supply chain problems.

Italy signs gas deal with Angola seeking to end dependence on Russia

Italian ministers on Wednesday signed a deal with Angola to ramp up gas supplies from the southern African country as Italy urgently scrambles to break away from Russian gas over the Ukraine war.

G20 finances chiefs convene amid threats of Ukraine boycott

Finance officials from the world's richest countries are convening on Wednesday to address global challenges like rising debt and a possible food crisis -- if they can overcome boiling tensions over Russia's invasion of Ukraine.

Europe stocks shine but US mixed as Netflix plunges

European stocks rose Wednesday as investors tracked corporate earnings and developments in the Ukraine conflict, while US stocks were mixed as Netflix shares tumbled after the streaming giant reported a drop in subscribers.

Higher prices cooled US housing market in March

Sales of existing US homes dropped for the second straight month in March, an industry survey said Wednesday, a sign that higher mortgage rates and rising prices are taking the wind out of the booming sector's sails.

Stock markets rise but Netflix sinks

European and US stocks rose Wednesday as investors tracked developments in the Ukraine conflict and corporate earnings, with Netflix shares sinking after the streaming giant reported a drop in subscribers.

Procter & Gamble profits rise on higher pricing

Quarterly profits edged higher at Procter & Gamble as the consumer goods giant implemented price increases with only a limited hit to demand, the company said Wednesday.

European stock market gains capped by Ukraine war

European stocks rose Wednesday but gains were capped as Russia continued its new offensive in eastern Ukraine, dealers said.

Blind Rwandans take up massage to fight stigma

On a chilly morning, Beth Gatonye loaded two vibrating chairs into her van and headed to the US embassy in Kigali with three blind colleagues, ready to offer massage therapy.

Italy chases African gas to end dependence on Russia

Italian ministers head to central Africa Wednesday in an urgent quest for new energy deals as Italy scrambles to break away from Russian gas over the Ukraine war.

IMF asks Sri Lanka to restructure debt before bailout

The International Monetary Fund said on Wednesday that it has asked cash-strapped Sri Lanka to "restructure" its huge foreign debt before a bailout programme could be finalised as anti-government protests escalated across the island.

Sri Lanka town under curfew, foreign concern over killing

Police kept up a curfew in central Sri Lanka on Wednesday, a day after the killing of an anti-government demonstrator in escalating protests across the island triggered international condemnation.

New Indian 'sex start-ups' challenge old taboos

The couple behind a new start-up using adult toys and cheeky adverts to challenge long-held taboos say they want to take the "shame, guilt and fear" out of sex in India.

Oil stabilises after big drop on IMF growth cut

Asian markets were flat on Wednesday as oil began clawing its way back up from a big drop after the International Monetary Fund downgraded its global growth forecast for 2022.

Mexican lawmakers pass lithium nationalization plan

Mexican lawmakers on Tuesday approved a plan to nationalize the exploration and mining of lithium, a vital material in the production of batteries for electric cars, cellphones and other technology.

Florida governor calls to end Disney's self-governing status at theme park

Florida governor Ron DeSantis asked the US state's congress Tuesday to vote to eliminate a statute that allows entertainment giant Disney to act as a local government in Orlando, where it has its theme park.

Oil prices dive on weaker IMF growth forecast as US stocks rally

Oil prices plunged by more than five percent Tuesday on worries that slowing growth will dent petroleum demand, while US stocks enjoyed a solid rally following a series of weak sessions.

Shutdown of Libya oil sites spreads to second terminal

Libya's National Oil Corporation announced Tuesday the closure of a second export terminal, paralysing the vital energy sector in a North African country gripped by political crisis.

Oil prices plunge after IMF cuts global growth forecast

Oil prices plunged by more than five percent Tuesday as investors worried about a drop in demand after the International Monetary Fund cut its global growth forecast.

Fragmentation poses 'serious risk' to global prosperity: IMF

The threat of deglobalization that splits countries into divided blocs could undermine decades of gains in living standards and growth, an IMF official warned Tuesday.

IMF slashes global growth forecasts amid Ukraine war

The "seismic" impact of the war in Ukraine is spreading worldwide, causing the IMF on Tuesday to sharply downgrade its 2022 global growth forecast to 3.6 percent.

European stocks fall as impact of Ukraine war spreads

European stock markets mostly fell Tuesday, as the impact of the Ukraine war spreads with the IMF slashing its global growth forecasts.

New 'phase' of Ukraine war as Russia attacks east

Moscow launched dozens of air strikes across eastern Ukraine overnight, its defence ministry said Tuesday, with Russia's top diplomat acknowledging "another phase" of the conflict was beginning as fighting raged in the Donbas region.

First killing by police in Sri Lanka protests

Sri Lanka police shot dead one man and wounded 10 others on Tuesday in the first fatal clash with demonstrators protesting the island nation's crippling economic crisis.

European stocks slide on return from Easter break

European stock markets slid Tuesday, catching up with losses in Asia and on Wall Street caused by slow growth concerns in China and rising US interest rates.

Japan fast-food chain fires official over sexist comments

One of Japan's most popular fast-food firms said on Tuesday that it had fired a top executive who reportedly suggested a marketing strategy of getting "virgins addicted" to the company's products.

Guitar that broke Oasis up for auction in Paris

A guitar, the smashing of which triggered the break-up of Oasis stars Liam and Noel Gallagher, goes under the hammer in Paris next month alongside other rock memorabilia.

Asia markets cautious over China growth news

Asian stocks were digesting growth concerns in China and rising interest rates in the United States on Tuesday with Hong Kong dropping sharply while Japan edged higher on the back of a plummeting yen.

Asia markets react to China growth news

Asian stocks were digesting news about growth concerns in China and rising interest rates in the United States on Tuesday with Japan edging marginally higher, but Hong Kong falling sharply in early trade.

Colombia's leftist Petro signs oath against expropriation

Ex-guerrilla Gustavo Petro, who leads in opinion polls ahead of Colombian elections next month, signed an oath Tuesday not to expropriate property if he becomes the country's first-ever leftist president.

Asian markets slide on growth fears, US stocks end volatile day lower

Asian stocks closed lower on Monday as Chinese officials offered a cautious outlook despite better-than-expected growth data, while US stocks edged lower amid worries over higher interest rates.

Ronaldo announces death of baby son

Cristiano Ronaldo and his partner Georgina Rodriguez announced on Monday that their newborn baby son has died.

Workers at New York Apple store launch union campaign

Workers at Apple's Grand Central Station store announced Monday they are organizing to establish a union, in what would be a first at one of the tech giant's retail locations in the United States.

Asian markets slide on inflation, Covid fears

Asian stocks closed lower on Monday in cautious trade, as figures showed China's economic growth accelerated in the first quarter of the year, but the government warned of "significant challenges" ahead.

Mexican lawmakers reject power reforms opposed by US

Mexican lawmakers on Sunday rejected constitutional electricity reforms at the center of diplomatic tensions with the United States, in a blow to President Andres Manuel Lopez Obrador.

China economy accelerates in Q1 but virus stalks outlook

China's economic growth accelerated in the first quarter of the year to 4.8 percent, official data showed Monday, but the government warned of "significant challenges" ahead while massive Covid-19 lockdowns started to bite.

Sri Lanka fuel prices up ahead of IMF talks

A key fuel retailer in Sri Lanka raised prices by up to 35 percent on Monday as the cash-strapped government was set to open crucial bailout talks with the International Monetary Fund.

Dubai Telegraph - Economy (English)