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Equity markets mostly on front foot, bitcoin rally stutters

Most markets rose Monday following a record close on Wall Street as traders welcomed Donald Trump's pick for Treasury secretary, while bitcoin's push to $100,000 ran out of steam after coming within a whisker of the mark at the end of last week.

Asian markets mostly on front foot, bitcoin rally stutters

Most Asian markets rose Monday following a record close on Wall Street as traders welcomed Donald Trump's pick for Treasury secretary, while bitcoin's push to $100,000 ran out of steam after coming within a whisker of the mark at the end of last week.

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Prosthetics craftsmen hope to 'repair humans' in ailing Venezuela

"I used to repair car tires. Now I repair humans," boasts Jose Bastidas, an amputee who left his auto repair job to make artificial limbs in Venezuela, where the health system has all but collapsed.

European stocks plunge, oil tops $100 as Russia invades Ukraine

Russia's invasion of Ukraine sent oil prices above $100 a barrel and pummeled European equities on Thursday, while Wall Street stocks finished solidly higher after rebounding during the session.

Elon Musk probed in US over stock trades: report

US market regulators are probing whether Tesla boss Elon Musk and his brother violated insider trading rules in connection with whopping share sales last year, the Wall Street Journal reported Thursday.

SWIFT, the global finance arm that the West can twist

An exclusion from SWIFT, a very discreet but important cog in the machinery of international finance, is one of the most disruptive of the possible sanctions that the West could deploy against Russia for its invasion of Ukraine.

World stocks plunge, oil tops $100 as Russia invades Ukraine

Global equities tumbled on Thursday and oil prices breached $100 for the first time in more than seven years after key crude producer Russia launched an invasion of Ukraine, accelerating fears of a major war in eastern Europe.

World stocks plunge, oil tops $105 as Russia invades Ukraine

Oil surged past $105 per barrel and equities tumbled Thursday after key crude producer Russia sent forces into Ukraine, accelerating fears of a major war in eastern Europe.

Americans ponder the cost of 'defending freedom' in Ukraine

President Joe Biden has told Americans to prepare for the "costs" of Washington's pushback against Russian aggression in Ukraine, but truck driver Jeremy Rakestraw wonders if he hasn't paid enough already.

Lebanon to get Spanish funds for railway revival plan: minister

Lebanon's transport minister has said that Spain will finance a plan to revive the railway network that has been out of service since the start of the 1975-1990 civil war.

A history of $100 crude oil

World oil prices on Thursday breached $100 for the first time in more than seven years, this time on supply fears after major producer Russia attacked Ukraine.

Alibaba says profit fell 74% in 'volatile' environment

Chinese e-commerce giant Alibaba on Thursday said profit in the October-December period fell 74 percent, the company's third straight quarterly drop as it faces myriad challenges including a government crackdown, slowing sales growth and intensifying domestic competition.

'Cheers': AB InBev profits nearly back to pre-pandemic level

The world's largest brewer AB InBev said Thursday that its profits rose 50 percent last year, nearing its level before the Covid-19 pandemic forced shut pubs and bars worldwide.

Video game developers cash in on Africa's booming mobile market

Two manga-like avatars lock swords against a comic strip backdrop, as Alexander Poone explains the different worlds of "The Traveller" -- a video game based on a graphic novel.

Engines giant Rolls-Royce back in profit, seeks CEO

Rolls-Royce, the British maker of aircraft engines, announced Thursday a return to annual profit in 2021 after it slashed costs, adding that its long-serving chief executive would step down.

Ukrainians in 'Moscow on the Med' look on in horror

Ukrainians living alongside fellow expats from "brother" Russia in the Mediterranean seaside town of Limassol in Cyprus looked on in horror Thursday at the Russian assault on their homeland.

Oil tops $100 after Russian assault on Ukraine

Benchmark oil contract Brent North Sea on Thursday topped $100 per barrel for the first time in more than seven years, this time on supply fears after major producer Russia attacked Ukraine.

Scrounging for food in 'hunger hotspot' Colombia

While the Colombian government fumes over being listed as a "hunger hotspot" by UN agencies, Heidy Garzon -- a single mother of nine -- worries where her family's next meal will come from.

Oil breaks $100, havens rally, equities drop as Russia enters Ukraine

Oil prices broke past $100 and safe havens surged while equities tumbled Thursday after Russian President Vladimir Putin announced a "military operation" in Ukraine, accelerating fears of a major war.

More than $1.5 bn bid so far in US offshore wind auction

Energy companies interested in developing offshore wind sites bid more than $1.5 billion Wednesday in by far the biggest US auction for the renewable power.

US stocks fall again as Russia-Ukraine tensions mount

Wall Street stocks fell again Wednesday amid unease over Ukraine and shifting Federal Reserve policy, while oil prices finished a volatile session little changed.

Uruguay appeals ruling ordering sale of eagle from Nazi battleship

Uruguay has appealed a ruling ordering it to sell a bronze eagle from a sunken World War II-era German destroyer found off Montevideo 16 years ago, government sources told AFP Wednesday.

US launches biggest yet auction for offshore wind

Bidding began Wednesday in the biggest US offshore wind energy auction yet, involving nearly 500,000 acres off the coasts of New York and New Jersey.

Fashionistas back to Milan for live shows -- for real this time

The who's who of Italian fashion returned to the runway Wednesday at the start of women's shows in Milan, which organisers hope will boost an industry stifled by two years of coronavirus.

Oil rises, stocks struggle as Russia-Ukraine tensions mount

Oil prices pushed higher while stocks struggled on Wednesday after Ukraine called up reservists and Russia vowed a strong response to Western sanctions.

US home ownership jumps, but race gap widens: data report

US home ownership jumped at an historic rate in 2020, but a racial gap widened as more Black households were priced out, according to a report released Wednesday.

France's Sanofi to seek Covid vaccine approval after delays

French pharmaceuticals giant Sanofi said Wednesday that its Covid-19 vaccine, developed with Britain's GSK, had delivered positive results after nearly a year of delays left it lagging far behind its rivals.

Barclays freezes ex-boss bonuses over Epstein probe

British bank Barclays on Wednesday suspended £22 million of bonuses owed to ex-boss Jes Staley amid a probe into his links with US sex offender Jeffrey Epstein.

Workers across Turkey go on strike as inflation bites

Soaring inflation in Turkey has propelled a wave of strikes unlike any the country has seen since the 1970s, as workers demand more money to counter the shrinking value of their pay.

Rio Tinto posts record earnings, buoyed by high ore prices

Australia-based mining giant Rio Tinto on Wednesday reported record earnings of US$21.4 billion last year, on the back of soaring iron ore prices and solid demand from China.

Hong Kong unveils $22 bn budget for virus plagued economy

Hong Kong's finance chief on Wednesday unveiled a costly HK$170 billion ($21.79 billion) budget, including tax breaks and consumer spending vouchers, as the city reels under its worst coronavirus outbreak to date.

Hong Kong parents decry child separations during virus surge

Hong Kong parents are being separated from children and babies who test positive for the coronavirus, compounding public anger over the financial hub's lack of readiness for a major outbreak now sweeping the city.

Most Asian markets rise after Russia sanctions but nerves on edge

Equities mostly rose Wednesday and oil prices stabilised as investors tracked developments in the Russia-Ukraine crisis after world powers imposed less harsh sanctions on Moscow than feared.

UN slams 'aggressive' formula milk marketing

The United Nations slammed baby formula makers Wednesday for "unethical" marketing strategies, accusing them of aggressively targeting expecting parents and health workers and putting shareholder interests before children's health.

Amazon faces another complaint over tactics in Alabama union vote

A labor group seeking to unionize Amazon workers in Alabama accused the retail giant Tuesday of "unfair labor practices" over its comportment during the vote.

Colombia's Duque blasts 'heinous' pro-abortion ruling

Colombia's president on Tuesday described as "heinous" a Constitutional Court ruling decriminalizing abortion up to 24 weeks of pregnancy, a move he said bypassed Congress and a deeply Catholic population.

Oil nears $100 but European stocks rebound on tepid sanctions

Oil prices surged close to $100 per barrel Tuesday as major crude producer Russia prepared to send troops into two breakaway regions of Ukraine.

US home prices saw biggest jump in 34 years in 2021

US home prices in 2021 saw their biggest increase in at least 34 years, according to data released Tuesday, as buyers spent the year snapping up homes and builders struggled to keep up.

US consumer confidence falls as expectations grow tepid

US consumer confidence fell for the second straight month in February, a survey said Tuesday, as Americans' feelings about the economy's present and future health cooled.

Volkswagen eyes separate stock market listing for Porsche

German auto giant Volkswagen on Tuesday said it was drawing up plans to list its luxury brand Porsche as it looks to raise the funds for its move to electric vehicles.

Mining firms targeting Brazil indigenous lands: report

Major mining companies are seeking to expand to currently protected indigenous lands in the Amazon rainforest, bolstered by billions of dollars in financing from international banks and investment firms, a report found Tuesday.

Dubai Telegraph - Economy (English)