Dubai Telegraph

Featured

Sweet smell of success for niche perfumes

They don't advertise and they are largely unknown to the general public but niche perfumes are able to command prices of hundreds of dollars from men and women seeking to stand out.

'Finally, we made it!': Ho Chi Minh City celebrates first metro

Thousands of selfie-taking Ho Chi Minh City residents crammed into train carriages Sunday as the traffic-clogged business hub celebrated the opening of its first-ever metro line after years of delays.

Last news

Oil prices extend gains as markets weigh strong US jobs data

Stocks were mixed Friday as markets weighed a surprisingly good US jobs report against concerns over tightening monetary policy, while oil prices pushed closer to $100 a barrel.

Meta adds 'personal boundary' tool after virtual world harassment

Facebook parent Meta began rolling out Friday a minimum distance between users' avatars in its virtual reality Horizon network after reports of harassment, one of the thorny issues for its metaverse vision.

Morocco bid to free boy from well reaches nerve-wracking final stages

Moroccan rescuers were in the nerve-wracking final stages Friday of a marathon effort to rescue Rayan, a five-year-old boy trapped down a well for a fourth night.

US lawmakers advance China competition bill

US lawmakers voted Friday to greenlight a multibillion-dollar bill aimed at jumpstarting high-tech research and manufacturing, countering China's growing influence and easing a global shortage of computer chips.

Oil prices, US jobs data weigh on stocks

A surge in oil prices to close to $93 per barrel as well as robust US jobs data weighed on stock prices Friday as they fuelled expectations central banks will move forcefully to raise interest rates.

US saw surprisingly robust hiring in January despite Covid surge

The US economy brushed off a spike in Covid-19 infections to add 467,000 jobs in January, far better than expected and a potential sign that the pandemic's days of disrupting businesses are numbered.

EU, US thaw trade tensions further with mollusc sales

The European Union and the United States signalled Friday a further thawing of trade tension as they agreed to resume trade in mussels, clams, oysters and scallops after a decade-long halt.

Blinken to Australia next week for Quad group meeting

US Secretary of State Antony Blinken travels to Australia next week for a Quad group ministerial meeting also involving his counterparts from India and Japan to discuss maritime security and cooperation against Covid, the State Department said Friday.

Mosque-goers pray for rain in drought-scorched Morocco

Mosques held prayers for rain on Friday across the parched North African kingdom of Morocco where farmers are battling an acute drought.

NATO chief Stoltenberg to head Norway central bank

NATO chief Jens Stoltenberg will take over as Norway's central bank governor at the end of the year, officials said Friday, a controversial choice that has already raised concerns about the bank's independence.

Can Hermes and Nike stop 'unauthorised' NFTs?

As digital objects in the form of NFTs have exploded in popularity and value over the past year, so too have the legal headaches and complications.

Morocco rescuers close in on boy trapped in well

Moroccans waited anxiously Friday as rescuers with heavy diggers closed in on Rayan, a five-year-old boy trapped in a deep well for three nights.

Sri Lanka calls for diaspora investment on independence day

Sri Lanka marked its independence day on Friday with an appeal to its diaspora to send money home to overcome the island's worsening economic crisis and a pledge to protect foreign investments.

Asian markets up as Hong Kong returns with rally, eyes on US jobs

Asian markets rose Friday as a surge in Hong Kong on its first day back from a break helped overcome a sharp drop on Wall Street, though a surprisingly hawkish tilt from the European Central Bank added fuel to fears about the removal of pandemic-era stimulus.

Rotterdam says no decision on dismantling bridge for Bezos superyacht

The Dutch port city of Rotterdam has not received a request for a permit to temporarily dismantle an historic bridge to allow a superyacht built for Amazon founder Jeff Bezos to pass, local media reported Thursday.

Asian markets mostly rise as Hong Kong reopens, eyes on US jobs

Asian markets mostly rose Friday as a rally in Hong Kong on its first day back from a break helped overcome a sharp drop on Wall Street, though a surprisingly hawkish tilt from the European Central Bank added fuel to fears about the removal of pandemic-era stimulus.

Morocco rescuers dig for boy trapped in well

Moroccans waited anxiously Thursday as authorities said a dramatic operation to rescue a young boy trapped in a deep well for over two days was nearing its end.

Ford Q4 profits hit by supply chain woes

Ford reported weaker-than-expected fourth-quarter profits Thursday amid supply chain problems, even as higher car prices boosted results in North America.

Amazon holiday quarter profit doubles

Amazon on Thursday reported its profit doubled to $14 billion in the recently ended quarter, giving a boost to jittery markets that expected less due to higher labor, sourcing and delivery costs.

Cyclone Batsurai injures 12, strands ship in France's La Reunion

Tropical cyclone Batsirai skirted the French Indian Ocean territory of La Reunion Thursday, leaving at least 12 people injured and an empty oil tanker stuck aground in its wake.

At least a year for permanent solution on 5G: US air regulator

The United States will gradually permit more 5G telecommunications service near airports, but a long-term solution on air safety concerns will take at least a year, a senior regulator said Thursday.

N.Ireland leader resigns over Brexit protocol

Northern Ireland's unionist chief minister quit on Thursday, forcing his nationalist deputy also to stand down and prompting calls for early elections in the tense province.

Over 7 million visited Dubai in 2021 tourism turnaround

More than seven million foreign tourists visited Dubai last year, marking a "remarkable turnaround", the government of the Gulf city state hosting the Expo world fair announced Thursday.

Union vote at GM Mexico plant hailed as 'win' for workers

Workers at a General Motors factory in Mexico have elected an independent union -- a step hailed as a victory for labor rights helped by a revamped North American trade agreement.

Moscow to shut down Deutsche Welle bureau in Russia

Russia said Thursday it is closing the Moscow bureau of German broadcaster Deutsche Welle and revoking staff accreditations in Russia, in response to Berlin's ban on the German-language channel of Russian state TV network RT.

Facebook slump reignites debate over attracting younger audiences

Facebook announced on Thursday that its daily user numbers had fallen for the first time in its history, reopening the debate around its problem with attracting new, younger subscribers.

UK's Kew tribute to Costa Rica at annual orchid fest

Britain's Royal Botanic Gardens at Kew unveiled its annual orchid festival Thursday, turning a sliver of southwest London into a riot of tropical colour and flora celebrating biodiversity hotspot Costa Rica.

Meta slump and interest rate fears drag stocks lower

Stock markets slid Thursday, dragged down by a massive plunge in the shares of Facebook parent company Meta following disappointing earnings, as well as indications central banks may move more aggressively to raise interest rates.

US services sector growth ebbed in January amid Omicron

Growth in the US services sector slowed modestly in January amid the surging Omicron variant of Covid-19 and lingering supply chain problems, according to a survey released Thursday.

ECB chief opens door to 2022 rate hike as inflation soars

European Central Bank chief Christine Lagarde on Thursday left open the possibility of interest rate hikes this year for the first time, as the eurozone comes under pressure from soaring prices.

Meta slump drags stocks lower, oil falls

Stock markets fell Thursday, dragged down by a massive plunge in the shares of Facebook parent company Meta following disappointing earnings.

ECB sees longer inflation but stands pat on policy

European Central Bank chief Christine Lagarde said Thursday that record inflation would stay high longer than expected, but the ECB stuck to its ultra-loose monetary policy as it sees prices cooling this year.

WHO sees pause, even end of pandemic for Europe

The World Health Organization on Thursday offered Europe hope of a "long period of tranquility" and even "enduring peace" in the war on coronavirus, with a growing list of nations lifting almost all Covid curbs.

ECB sits tight as inflation pressure rises

The European Central Bank stuck to its ultra-loose monetary policy on Thursday, despite record inflation in the eurozone putting the Frankfurt-based institution under mounting pressure.

BoE agrees second rate hike in row as inflation soars

The Bank of England on Thursday lifted its main interest rate for the second time in a row in a bid to tackle decades-high inflation.

UK to support consumers as energy price cap rises 54%

The UK government on Thursday stepped in to help the hardest-hit households struggling with the rising cost of living, announcing a £9 billion package to offset soaring energy bills.

Stock markets mostly fall before European interest rate decisions

Stock markets mostly dropped Thursday as profit-taking set in after recent strong gains, as traders awaited interest rate updates from the European Central Bank and the Bank of England.

Cuba runs out of milk, breaking Castro's promise

In the early days of communism in Cuba, Fidel Castro had pledged that every child under seven would have a liter of subsidized milk every day.

Turkey inflation surges to near 20-year high

Turkey's annual inflation rate in January reached its highest level since April 2002, official data showed Thursday, after a currency crisis decimated people's purchasing power.

Dubai Telegraph - Economy (English)