Dubai Telegraph

Oil, gas rocket to record levels on Ukraine conflict

Oil prices soared Wednesday above $113 per barrel and natural gas hit a record peak, as investors fretted over key producer Russia's intensifying assault on Ukraine.

UN agrees to create 'historic' global treaty on plastic trash

The United Nations on Wednesday agreed to start negotiating a world-first global treaty on plastic pollution in what has been hailed a watershed moment for the planet.

Pipe dreams: German village seeks future for Nord Stream 2

Once defended by the former chancellor Angela Merkel as a purely economic project that will bring cheaper gas to Europe, the controversial 10-billion-euro Nord Stream 2 pipeline has finally been canned by Germany over Russia's invasion of Ukraine.

Top oil producers likely to hold course despite Ukraine war

Saudi Arabia, Russia and other top oil producers are expected Wednesday to agree to hold firm on only gradually opening the taps despite Russia's assault on Ukraine sending prices spiralling.

Oil tops $113, equities sink on Ukraine war fears

Crude surged past $113 a barrel Wednesday and equities sank with investors growing increasingly fearful about the Ukraine war's impact on global energy supplies and the economic recovery.

Oil tops $110, equities sink on rising Ukraine war fears

Crude surged past $110 a barrel Wednesday and equities sank with investors growing increasingly fearful about the Ukraine war's impact on global energy supplies and the economic recovery.

Sri Lanka runs out of fuel as dollar crisis worsens

Sri Lanka's public transport was crippled Wednesday as buses ran out of diesel, officials said as the country's foreign exchange crisis worsened with no dollars to import fuel.

UN to take first step towards 'historic' plastic treaty

The United Nations is to launch formal negotiations on Wednesday for a global treaty to address a plastic trash "epidemic" that supporters say is a historic moment for the planet.

ExxonMobil, Apple, Boeing latest US giants to cut ties with Moscow

Apple, ExxonMobil and Boeing announced Tuesday in rapid succession steps to withdraw or freeze business in Russia as more US corporate giants take action after the Ukraine invasion.

Oil prices soar, equities sink on Ukraine invasion

World oil prices again soared Tuesday while European and US equities sank after investors were unnerved by key crude producer Russia's attack on Ukraine.

World's biggest shipping groups suspend Russian deliveries

The three biggest container shipping groups in the world announced Tuesday that they were suspending non-essential deliveries to Russia, adding to the country's economic isolation following a raft of sanctions by the West.

Sri Lanka imposes longest power cuts in 26 years

Sri Lanka on Tuesday announced nationwide seven-and-a-half hour daily power cuts, the longest in more than a quarter of a century, as its foreign exchange crisis leaves it unable to import oil.

Ukraine accuses Russia of air strikes on housing block, TV tower

Russian air strikes hit a residential block in Kharkiv and the main TV tower in the capital Kyiv, Ukraine said on Tuesday, as Moscow stepped up attacks despite sanctions and warnings of a humanitarian crisis.

The Azov Sea, symbolic prize of Russia-Ukraine war

In the mist and pouring rain, the usually bustling port of Taganrog in south-west Russia has come to a standstill. The Azov Sea, usually calm, has become a symbolic prize in Russia's war in Ukraine.

Chip firms play down Ukraine war supply fears

The tech industry is playing down fears of widespread raw materials shortages as a result of the war in Ukraine, after reports that chipmakers would face a severe crunch.

Russia steps up attacks on Ukrainian cities

Russian forces stepped up attacks on cities across Ukraine Tuesday and warned they would target security buildings in the capital Kyiv, as the West promised more devastating sanctions and the UN appealed for $1.7 billion for urgent aid.

Taliban row back comments saying Afghans barred from leaving

The Taliban's chief spokesman on Tuesday rowed back comments he made suggesting Afghans would be barred from leaving the country, saying he had been misunderstood.

Man Utd say 'thorough process' under way to find new manager

Manchester United football director John Murtough says a "thorough process" is under way to find their next permanent manager, pledging the club remains focused on challenging for "top trophies" again.

Russian-European Mars rover 'very unlikely' to launch this year

A Russian-European mission to land a rover on Mars is "very unlikely" to launch this year due to sanctions over Moscow's invasion of Ukraine, the European Space Agency said.

Arabs, Afghans decry 'racist' double standard in Ukraine media commentary

The world has been stunned by Russia's invasion of Ukraine, but shock quickly gave way to indignation in other strife-torn parts of the world over media commentary many saw as racist against them.

Russia strikes Ukrainian cities as troops mass near capital

Russian forces struck cities in eastern Ukraine and massed armoured vehicles and artillery near the capital Kyiv on Tuesday, as Western powers promised further sanctions to bring down Russia's economy.

Russia strikes Ukrainian cities as convoy masses near capital

Russian forces struck cities in eastern Ukraine and massed armoured vehicles and artillery near the capital Kyiv on Tuesday, as Western powers promised further sanctions to bring down Russia's economy.

Equities rally as volatility eases for now

Equities rose Tuesday as the volatility that has gripped markets since Russia invaded Ukraine eased slightly, though oil extended gains as the United States contemplates releasing some of its reserves to temper prices.

Asian equities rally as volatility eases for now

Asian equities rose Tuesday as the volatility that has gripped markets since Russia invaded Ukraine eased slightly, though oil extended gains as the United States contemplates releasing some of its reserves to temper prices.

Disillusioned and 'betrayed' -- Brazilians flock abroad

Brazil's vibrant mix of business, beaches and carnival has long lured expats from around the world, but a reverse migration is also in effect, as each year thousands of citizens pack up and head for new pastures.

Toshiba CEO resigns ahead of vote on spin-off plan

Toshiba's CEO resigned on Tuesday, the Japanese conglomerate said, adding fresh uncertainty after already revising plans to split its businesses and just weeks before a key shareholder vote.

Russia shells Ukraine's Kharkiv as pressure on Moscow bites

Russia shelled the Ukrainian city of Kharkiv as it pressed on with its invasion Tuesday, defying mounting global pressure that saw a war crimes probe opened against Moscow, sanctions smash its economy and FIFA ban it from the World Cup.

Twitter, Facebook clamp down on Russia state-linked news

Social media giants Twitter and Facebook parent Meta moved Monday to curb the presence on their platforms of Russian state-linked news outlets, which stand accused of pushing misinformation about Moscow's invasion of Ukraine.

Oil soars, ruble dives on fallout from Russia sanctions

Oil prices surged Monday while the ruble collapsed and global stocks mostly retreated after world powers imposed new sanctions on Russia over its invasion of Ukraine.

EU sanctions Putin oligarchs, spokesman over Ukraine

The European Union on Monday added top Kremlin-linked oligarchs and Russian President Vladimir Putin's spokesman to its sanctions blacklist as part of its latest round of punishment over the Ukraine invasion.

Mexico's Pemex cuts annual loss as oil prices soar

Mexican state energy giant Pemex said on Monday that it had reduced its losses by more than half in 2021, to $10.9 billion, helped by a jump in global oil prices.

Russians worry for their savings as ruble tanks

When she saw the ruble go through the floor, Natalia Proshina made a beeline for the bank.

UK to freeze all Russian banks' assets, bars ships

The UK on Monday said it would freeze the assets of all Russian banks over the invasion of Ukraine, tightening the international economic stranglehold on Moscow over its "unjustified aggression".

Sberbank faces protests, cash withdrawals outside of Russia

From Budapest to Zagreb, Sberbank branches outside of Russia have seen worried customers line up to take out money, while others have become the target of protests after Moscow invaded Ukraine.

Ukraine, Russia talk as sanctions rain down on Moscow

Russia and Ukraine met Monday for their first talks since the outbreak of war last week, with Kyiv demanding an "immediate ceasefire" and the West ratcheting up its financial sanctions in a bid to force the Kremlin to buckle.

Oil soars, ruble and equities dive on Russia fallout

Oil and gas prices surged Monday, but the ruble collapsed and global stocks sank after world powers imposed new sanctions on Russia over its invasion of Ukraine.

Qatar hits out at Airbus as new jet grounded in paint dispute

Qatar Airways on Monday accused aviation giant Airbus of blocking efforts to settle their billion-dollar dispute over the safety of the A350 as it announced that another plane has been grounded with peeling paintwork.

Decaying Congo tin mining town finds new hope in lithium

Near the rusting carcass of a smelter, barefoot men and women scratch at the ground in the quest for cassiterite -- the tin oxide ore that generations ago gave the town of Manono a brief taste of the good life.

Toyota halts Japan plants after reported cyber attack

Japanese automaker Toyota said Monday it was halting operations at all its domestic plants for a day after a reported cyberattack on a parts supplier.

Dubai Telegraph - Economy (English)

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