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Dubai Telegraph - Economy (English)
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UK seeks Europe-wide maritime minimum wage after P&O debacle
The UK government said Wednesday it wants a minimum European wage for maritime workers, after P&O Ferries sacked almost 800 seafarers to replace them with cheaper agency workers.
Stocks slide, oil rises as Germany slashes growth outlook
World stock markets lost ground Wednesday after strong gains the previous session, as Russia downplayed hopes of a breakthrough in peace talks with Ukraine and Germany's growth outlook darkened.
EU unveils 'sustainable' fashion push
The EU on Wednesday announced proposals to crack down on "fast fashion" by making clothing easier to repair and more durable as part of a push to bolster environmental standards.
10-hour blackouts, hospitals stop surgery as Sri Lanka crisis worsens
Sri Lanka on Wednesday began imposing record nationwide 10-hour daily power cuts as more hospitals announced the suspension of routine surgeries in response to severe shortages of fuel and life-saving medicines.
Marta Ortega, the heiress taking the reins of Zara
Marta Ortega, whose father founded Zara-owner Inditex, will become the world's most powerful woman in the ready-to-wear sector when she takes the reins of the company on Friday.
Energy prices push Spanish inflation to 37-year high
Spanish inflation has surged to a near 37-year high due to soaring energy prices following Russia's invasion of Ukraine, official data showed Wednesday, adding pressure on the government.
Most markets rally on Russia pledge, but traders cautious
Most stocks rose again Wednesday as investors gave a cautious welcome to Russia's pledge to "radically" wind down military activity around two cities including Kyiv, lifting hopes for a ceasefire in the month-long Ukraine war.
10-hour power cuts in Sri Lanka as crisis worsens
Sri Lanka on Wednesday began imposing record nationwide 10-hour daily power cuts as it ran out of hydro-electricity on top of a severe shortage of fuel.
Muslims face frugal Ramadan as Ukraine war drives up food prices
Russia's Ukraine invasion, which has already exacerbated food woes in parts of Africa and the Middle East, is marring preparations for the holy month of Ramadan and forcing a turn to frugal iftar sunset meals.
US to stress economic independence to counter 'unfair' China trade practices
The US should focus on achieving economic independence from China rather than pressuring Beijing to change "unfair" trade practices, US Trade Representative Katherine Tai will suggest Wednesday, as a shift in strategy toward the Asian giant.
Russia accused of causing 'global food crisis' at UN
Russia was accused before the UN Security Council on Tuesday of having caused a "global food crisis" and putting people at risk of "famine" by starting the war in Ukraine, which serves as a breadbasket for Europe.
Thousands march in Haiti in anger over surge in kidnappings
Thousands of people demonstrated Tuesday in Haiti to denounce a surge in kidnappings and the lack of action by the government of Prime Minister Ariel Henry to protect the population from crime gangs.
European, US stocks rise on hopes for Ukraine peace talks
European and US stocks rallied while oil prices retreated on Tuesday as apparent progress in peace talks between Moscow and Kyiv fueled hopes of an end to the Ukraine conflict.
Oil prices sink, stocks surge on Ukraine hopes after talks
World oil prices dived and European and US stocks rallied on Tuesday as apparent progress in peace talks between Moscow and Kyiv sparked hope of an end to the Ukraine conflict.
Struggling Everton post £120m losses
Premier League strugglers Everton recorded losses of £120.9 million ($157 million) in the last financial year, but are set to avoid being held in breach of profit and sustainability rules.
France's Decathlon shuts Russian stores as others defy pressure
French sports retailer Decathlon said Tuesday it was suspending sales at its stores in Russia following calls to boycott the group and other French companies for keeping their operations running.
Cathay plans world's longest passenger flight, avoids Russian airspace
Cathay Pacific is planning the world's longest passenger flight by rerouting its New York to Hong Kong service over the Atlantic instead of the Pacific, the airline said Tuesday, in a new path that steers clear of Russia.
Becker doesn't know where his Wimbledon trophies are
Former Wimbledon champion Boris Becker has told a London court he does not know the whereabouts of his All England Club trophies.
Oil prices sink, stocks surge on Ukraine talks 'progress'
World oil prices dived and European stocks rallied on Tuesday as apparent progress in peace talks between Moscow and Kyiv sparked hope of an end to the Ukraine conflict.
French family leapt off balcony one by one: Swiss police
A French family gripped by conspiracy theories jumped one after the other from their seventh-floor apartment in the Swiss town of Montreux, police investigating the mystery said Tuesday.
Oil volatility 'worse' without OPEC+ bloc that includes Russia: Saudi
Volatility on oil markets sparked by Russia's invasion of Ukraine would be worse without OPEC+, the Saudi energy minister said on Tuesday, insisting the alliance that includes Russia deserves credit.
World stock markets rally as Ukraine peace talks resume
Stock markets mostly rallied Tuesday on investor optimism as the latest peace talks kicked off between Ukraine and Russia.
Saving nature: Conserving 30% of the land, sea just the start
Expanding nature reserves to cover at least 30 percent of the planet by 2030 is the flagship proposal of high-stakes talks to rescue Earth's animals and plants from human destruction.
Asian, European markets rise as ceasefire talks begin
Equities mostly rose Tuesday in Asia and Europe on optimism over talks between Ukraine and Russia aimed at ending their month-long war, while there was further support from another drop in oil prices.
Asti Spumante bubbles popped by Ukraine war
Its sweet bubbles made Asti Spumante a favourite in Russia -- but the Ukraine war threatens to cripple Italy's producers, with sales of millions of bottles now at risk.
Cairo to Kyiv: Social media's rocky ride through conflict zones
When Yarema Dukh set up Ukraine's official Twitter account in 2016, he knew that social media was the best way for his country to get its message out.
Rio launches clean-up of gorgeous, filthy bay -- again
Cold beer in hand, the sun shining, Edson Rocha seems to have everything for a beautiful day at the beach.
Bolsonaro ousts Petrobras president after fuel increases: official
Brazilian President Jair Bolsonaro decided on Monday to replace the president of state-owned oil giant Petrobras, Joaquim Silva e Luna, amid strong pressure due to recurrent increases in fuel prices.
Oil sinks over China demand fears, stocks mixed on Ukraine talks
World oil prices dived Monday as Shanghai's phased Covid lockdown reignited fears over Chinese energy demand.
Spain unveils economic plan to ease Ukraine war impact
Spanish Prime Minister Pedro Sanchez unveiled plans Monday to offer 16 billion euros ($17.5 billion) in direct aid and loans for families and companies hit by the impact of Russia's invasion of Ukraine.
Oil sinks over China demand fears, as stocks rise on Ukraine talks
World oil prices dived Monday as Shanghai's phased Covid lockdown reignited fears over Chinese energy demand.
UAE reaffirms OPEC+ commitment, says West must be 'reasonable'
The United Arab Emirates on Monday urged Western countries to be "reasonable" in their expectations, underlining its commitment to the global OPEC+ energy alliance.
Heineken exits Russia in wake of Ukraine war
Dutch brewer Heineken on Monday joined the foreign business exodus from Russia over the war in Ukraine, saying it was "deeply saddened" to see the conflict intensify.
Huawei reports record net profit as exec Meng makes public return
Chinese telecoms giant Huawei on Monday reported record profit for 2021, defying the US sanctions aimed at it as executive Meng Wanzhou made her first public appearance since returning to China from Canadian custody.
Britain cedes control of bailed-out NatWest bank
Britain announced Monday that it has ceded control of bailed-out bank giant NatWest, cutting its stake to below 50 percent for the first time since the global financial crisis.
Markets mostly rise, eyes on Ukraine talks and Shanghai lockdown
Stock markets mostly rose Monday with traders hoping for progress in ceasefire talks between Russia and Ukraine this week, though gains were tempered by a phased lockdown in Shanghai that led to fresh concerns about already strained supply chains.
Markets mixed, eyes on Ukraine talks and Shanghai lockdown
Stock markets were mixed Monday with hopes for some progress in ceasefire talks between Russia and Ukraine this week tempered by a phased lockdown in Shanghai that led to fresh concerns about already strained supply chains.
Taliban ban Afghan women from flying without male relative
The Taliban have ordered airlines in Afghanistan to stop women from boarding flights unless accompanied by a male relative, aviation officials told AFP.
Asian markets mixed, eyes on Ukraine talks and Shanghai lockdown
Asian markets fluctuated Monday with traders hopeful for some progress in ceasefire talks between Russia and Ukraine this week, though a phased lockdown in Shanghai led to fresh concerns about already strained supply chains.