Dubai Telegraph

Asian markets edge up, oil extends gains with focus on Ukraine

Asian equities mostly edged up Wednesday as three days of painful losses gave way to a semblance of stability, though oil prices extended gains after the United States and Britain moved to ban imports of Russian crude.

Israel's president heads to Turkey in bid to rebuild ties

Israel's president heads to Turkey Wednesday to meet his counterpart Recep Tayyip Erdogan, the first visit by an Israeli head of state since 2007, as the countries seek to mend fractured ties.

'Lithuania mania' sweeps Taiwan as China spat sizzles

The tiny handful of Lithuanians living in Taiwan are suddenly in vogue among the island's residents after their small Baltic nation did something Taipei has long staked its identity on: stand up to China.

Coca-Cola, PepsiCo say they will halt business in Russia

Coca-Cola and PepsiCo are suspending business in Russia, the soft drink giants announced Tuesday, as corporations and Western governments penalize Moscow for its invasion of Ukraine.

Brazil's Bolsonaro backtracks on 'menstrual poverty' row

Brazilian President Jair Bolsonaro signed a decree Tuesday providing for free menstrual supplies for low-income women and girls, five months after drawing criticism for vetoing a similar measure.

McDonald's joins US firms shutting down Russia operations

McDonald's on Tuesday became the latest on the growing list of US multinational companies to suspend activities in Russia, joining Apple, Levi's and others, but some have chosen to stay in the country despite the risks to their reputation.

US, UK halt Russian oil imports over Ukraine invasion

The United States and Britain announced Tuesday they are cutting off imports of Russian oil, in the most far-reaching action yet by Western allies to punish Moscow for invading Ukraine.

UK initiative pushes for more women to head FTSE-100 firms

Two years ago Tara Cemlyn-Jones, a former investment banker who helped in the financing of start-ups including lastminute.com, returned to the UK after years spent abroad.

Google to spend $5.4 bn on cybersecurity firm Mandiant

Google announced Tuesday a deal to acquire the cybersecurity firm Mandiant for about $5.4 billion, one of the tech giant's biggest purchases ever as it works to bolster its cloud computing offer.

Evacuated orphans find safe haven in far western Ukraine

Remote and windswept but safe, an empty school in the far west of Ukraine has proved a welcome refuge for 93 orphaned children evacuated by train from embattled Kyiv last week.

Walk or drive slower: Europeans adapt to soaring fuel prices

The conflict in Ukraine has sent fuel prices soaring in Europe, hitting people's pocketbooks, prompting some to walk more and forcing taxis to change their routines.

Adidas latest to close Russia stores following invasion

German sportswear group Adidas is temporarily closing its stores in Russia and shut its online shop, joining a growing list of companies suspending their activities following the invasion of Ukraine.

Pressure mounts on US companies in Russia

As a growing list of US multinational businesses -- from Apple to Levi's -- suspend activities in Russia, some companies choose to stay in the country despite the risks to their reputation.

US reaches out to Maduro in energy talks with Venezuela

A US delegation met with Venezuelan government officials in Caracus at the weekend for talks that included a discussion of energy supplies, the White House said Monday as Washington looks for ways to reduce its imports of Russian oil.

Asian markets fall again, oil builds on gains as Ukraine war rages

Asian markets mostly fell again Tuesday as investors try to assess the economic impact of the Ukraine war, while oil prices extended gains after rocketing to a near 14-year high.

Petrobras share prices plunge after Bolsonaro criticism

Shares in Brazilian oil company Petrobras plummeted more than seven percent Monday after President Jair Bolsonaro criticized the organization's pricing policy in the face of rising crude prices due to the war in Ukraine.

'Chemical recycling' of plastic slammed by environmental group

Most plastic "advanced recycling" plants in the United States aren't actually recycling plastic but instead converting it into a dirty fuel, while producing toxic waste in low-income communities, a study by a leading environmental group said Monday.

Russians brace for sanctions as their favourite shops close

Yulia Shimelevich hurries to stock up on imported food for her cat and dog as it may soon disappear from Moscow shelves with the onslaught of sanctions from Western capitals on Russia over Ukraine.

Anti-competitive practices lower US wages by 20%: Treasury

The decline in unionization and moves by employers to stop workers from changing jobs have undermined competition in the US labor market, lowering American salaries by 20 percent, the Treasury Department said Monday.

Boeing halts titanium purchases from Russia

Boeing said Monday it will no longer buy titanium from Russia and instead will rely on inventories and alternative suppliers for airplane production.

Bali eases quarantine, visa rules in re-opening push

Bali on Monday scrapped quarantine for vaccinated tourists from more than 20 countries and reintroduced visas on arrival as the Indonesian holiday island pushes ahead with re-opening after two years of Covid curbs.

Cricket's Warne died of 'natural causes': autopsy

Cricket superstar Shane Warne died of natural causes, Thai police said Monday, as his family lamented a "tragedy we will never come to terms with".

Former India stock exchange boss arrested in mystic scam

The former chief executive of India's National Stock Exchange has been arrested, officials said Monday, in a bizarre corporate misgovernance scandal featuring a supposed Himalayan yogi.

China exports up 16.3% as trade with Russia surged

Chinese exports in January and February rose a combined 16.3 percent on surging global demand and a spike in trade with Russia in the run-up to the war in Ukraine, according to customs data released on Monday.

Virus chaos pushes more expats to join Hong Kong exodus

For the last eight years Mathilde and her family have called Hong Kong home, but as the coronavirus tears through the city they are joining an exodus of foreign workers looking for an escape route.

'Nightmare' of underage marriage for Moroccan girls

Nadia was just 16 when she was married off to a violent husband old enough to be her father -- an ordeal thousands of Moroccan girls face every year due to a legal loophole.

Unemployment, pay gap, instability the pandemic legacy for Peru's women

When the pandemic struck Peru and forced the economy to shut down in an attempt to stop the spread of the coronavirus, women were some of the hardest hit.

Thousands march in El Salvador to demand abortion rights

Around 2,000 women marched in El Salvador's capital on Sunday to demand the legalization of abortion and a decrease in the killings of women in the Central American country.

Newest 'Batman' soars to huge opening in N.American theaters

Warner Bros.' dark new film "The Batman" has soared to the top in North American theaters to become the year's first film to exceed $100 million in its opening weekend, industry analysts said Sunday.

US, Europe mulling bans on Russian oil imports, Blinken says

The United States said Sunday it was in "active discussions" with European nations about banning Russian oil imports as further economic penalty against Moscow for invading Ukraine, but stopped short of announcing an outright boycott.

ECB reckons with impact of war on eurozone's doorstep

Russian President Vladimir Putin's invasion of Ukraine has added an extra layer of complexity to the decisions facing European Central Bank policymakers as they meet on Thursday.

America is finally cleaning up its abandoned, leaking oil wells

Bill Suan bought his family's cattle farm in the mountains of West Virginia a decade-and-a-half ago with little thought for the two gas wells drilled on the property -- but then they started leaking oil onto his fields and sickening his cows.

Visa, Mastercard suspend operations in Russia

Card payment giants Visa and Mastercard announced Saturday they will suspend operations in Russia, the latest major US firms to join the business freeze-out of Moscow over its invasion of Ukraine.

Russia-Ukraine conflict escalation would cause 'devastating' economic damage: IMF

The IMF warned on Saturday that the already "serious" global economic impacts of the war in Ukraine would be "all the more devastating" should the conflict escalate.

Russia's Aeroflot says halting all flights abroad from March 8

Russia's flagship airline Aeroflot said Saturday that it was suspending all its international flights beginning March 8, as Moscow faces waves of Western sanctions over its military incursion in Ukraine.

IAEA chief in Iran for talks seen as key to nuclear deal

The UN nuclear watchdog's chief held high-level talks in Tehran on Saturday that are seen as crucial in efforts to revive the 2015 nuclear deal between Iran and world powers.

Neutral Switzerland's economy shaken by sanctions on Russia

Switzerland's newly adopted tough stance on Russia has forced the Swiss economy to readjust to sanctions, blowing a wind of panic through the raw materials market in particular.

Volkswagen plans 2 bn euro electric car plant in Germany

German auto giant Volkswagen said on Friday it had approved a 2 billion euro investment in a new electric car plant, as it seeks to overhaul its business in the face of stiff competition from US rival Tesla.

Facebook says Russia block 'cuts off millions' from reliable information

Facebook attacked Russia's block on Friday of the dominant social media network, saying the move will cut millions off from reliable information and a forum to share their views.

Dubai Telegraph - Economy (English)

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