Dubai Telegraph

Google parent Alphabet nearly doubles annual profit

Google's parent firm Alphabet announced quarterly profits Tuesday that beat expectations and nearly doubled in 2021 -- after a booming holiday season for the online ads giant facing anti-trust scrutiny.

General Motors reports lower Q4 profits, sees solid 2022

General Motors saw lower fourth-quarter profits as the semiconductor crunch hit vehicle sales, but the company still scored record annual earnings, according to results released Tuesday.

Mexico's energy reforms test relations with US

Relations between the United States and Mexico are under strain as the Mexican government pushes ahead with planned energy sector reforms that have alarmed Washington and foreign investors.

UPS unveils big dividend hike after strong 2021

UPS announced Tuesday a hefty increase in its investor dividend, boosting shares as it moved up key profit targets following a strong 2021.

Ethiopian Airlines completes first 737 MAX flight since 2019 crash

Ethiopian Airlines on Tuesday flew the Boeing 737 MAX for the first time since a crash nearly three years ago killed all 157 people on board and triggered the global grounding of the aircraft.

Whoopi Goldberg apologizes for Holocaust comments

US actress Whoopi Goldberg has apologized after she was criticized for saying that the Nazi genocide of six million Jews "was not about race."

Orban pledges cooperation with Putin in storm of Ukraine crisis

Hungarian Prime Minister Viktor Orban met with Russia's Vladimir Putin in the Kremlin on Tuesday, pledging cooperation with Moscow for years to come in a trip criticised by his EU allies.

Denmark unmasks to 'live normally' again with Omicron

Denmark waved goodbye to facemasks and health passes on Tuesday as it became the first European Union country to lift all of its domestic Covid curbs despite record numbers of cases of the milder Omicron variant.

ExxonMobil posts $23 bn in 2021 profits on higher oil prices

ExxonMobil reported a profitable fourth-quarter Tuesday to conclude a strong comeback year in 2021 on higher oil prices amid recovering energy demand.

Daimler completes Mercedes-Benz rename after truck split

German auto manufacturer Daimler officially changed its name to Mercedes-Benz on Tuesday after splitting with its truck subsidiary in a major corporate shakeup.

European stocks rally after Tokyo, US gains

European stock markets rallied Tuesday following gains in Tokyo and overnight on Wall Street as investors assess the outlook for interest rate hikes in the face of high inflation.

Murder trial over Bangladesh factory collapse resumes after five years

Bangladesh has resumed the murder trial over one of the world's most devastating factory disasters after five years mired in appeals and court procedure, prosecutors told AFP on Tuesday.

Taiwan chip firm's bid to buy German rival collapses

A Taiwanese semiconductor technology company's $4.5 billion deal to acquire a German rival collapsed on Tuesday after a deadline for Berlin to approve the bid passed without a decision.

Rio Tinto admits culture of 'bullying, sexual harassment, racism'

Australian-based mining giant Rio Tinto released a searing internal report Tuesday that found sexual assault, bullying and racial discrimination are rife "throughout the company".

Asian markets rise as traders buoyed by latest Wall St rally

Asian markets rose in limited trade Tuesday following another strong lead from Wall Street fuelled by a rebound in tech firms, while comments from Federal Reserve officials eased concerns that it will embark on an aggressive phase of policy tightening.

Ethiopian Airlines to resume 737 MAX flights after 2019 crash

Ethiopian Airlines is set Tuesday to operate the Boeing 737 MAX for the first time since a crash nearly three years ago killed all 157 people on board and triggered the global grounding of the aircraft.

Traditional UK sweet factory enjoys global sugar rush

Edward Gray sweet factory in central England evokes a bygone age where brass cauldrons steam with molten sugar and workers wrestle with huge chunks of gooey treacle, but its handmade produce now enjoys a global demand.

Lebanon power cuts turn cafes into co-working spaces

The music is often hushed and the atmosphere studious -- for the patrons filling Beirut's cafes these days, the most important things are good lighting and stable wi-fi.

UN agency says gaps in Belarus flight rerouting probe

The UN aviation agency on Monday extended its investigation into a bomb warning aboard a Ryanair flight last May, citing gaps and inconsistencies in Belarus's account of its rerouting of the aircraft.

Denmark returns to 'life as we knew it' despite Omicron

Denmark on Tuesday becomes the first European Union country to lift all of its Covid restrictions despite record numbers of cases, relying on its high vaccination rate to cope with the milder Omicron variant.

Facebook's crypto project Diem sold after pushback

The Facebook-backed digital currency project Diem announced Monday the winding down and $182-million sale of its technology, capping a years-long initiative that drew significant concern from regulators.

Boeing seals deals with Qatar Airways, launches new cargo plane

Boeing launched a new freighter jet Monday while announcing a pair of major agreements with Qatar Airways, in a boost to the still-struggling US aviation giant.

US-China trade relations in 'difficult' stage: Tai

Trade relations between Washington and Beijing are at a "difficult" stage but President Biden's administration is committed to protecting the US economy from negative impacts of China's policies, the top American trade official said Monday.

US lacks moral authority to criticize rights abuses: Cuba

Cuba, marking six decades under American sanctions this week, has lashed out at US "cruelty" against the island nation and said Washington lacked the moral authority to criticize rights violations in other countries.

Russia, US clash at UN over Ukraine crisis

Russia and the United States clashed over Ukraine at the UN Security Council Monday, with Moscow's representative accusing Washington of whipping up hysteria over the 100,000 Russian troops massed on its neighbor's borders.

Boeing to sell 34 777X cargo planes to Qatar Airways

US plane maker Boeing reached a pair of major agreements on Monday with Qatar Airways, including the sale of 34 777X freighters worth an estimated $20 billion.

Mexico economy grew 5% in 2021, but ended in recession

Mexico's economy grew by five percent in 2021 but headed into technical recession at the end of the year, as Latin America's second-biggest economy contracted for a second straight quarter, preliminary official data showed Monday.

Russia, US square off at UN over Ukraine crisis

Russia and the United States face off Monday at the UN Security Council over Moscow's troop buildup on the Ukrainian border, as Western nations intensify their high-stakes diplomatic push to avert open conflict in Europe.

Russia, US to hold new Ukraine crisis talks after key UN session

The Russian and US foreign ministers are set to hold fresh talks Tuesday after a UN Security Council meeting on Ukraine, with Washington vowing to work with Western allies to beef up sanctions should Moscow decide to invade its neighbor.

India's Tata Motors in the red over chip shortages

India's Tata Motors, the owners of the Jaguar and Land Rover brands, reported a fourth consecutive quarterly loss Monday, weighed down by higher commodity prices and the global chip shortage.

UAE to introduce corporate tax next year: finance ministry

The United Arab Emirates will introduce a corporate tax from mid-2023, the finance ministry said Monday, in a major change of course as the country seeks to diversify its income.

Eurozone economy rebounded in 2021 after Covid crash

The eurozone economy posted robust growth last year, official data showed Monday, but fallout from the Omicron variant and an energy crunch have raised doubts about the bloc's ability to sustain the pace.

India forecasts world-beating growth on Covid recovery

India expects to lead the world in economic growth this year in a post-pandemic bounceback, government forecasts showed Monday, but with expansion slowing despite widespread vaccine coverage and recovering exports.

European stocks rebound, oil higher in major trading week

Europe's main stock markets recovered Monday following gains in Asia and a pre-weekend rally on Wall Street, as traders look ahead to key policy decisions by OPEC and central banks as well as US jobs data.

Japanese publishers to sue US firm over manga piracy

Four major Japanese manga publishers said Monday they will sue a US company accused of hosting servers for a piracy site, in the latest offensive against illegal copies of their graphic novels.

Ryanair slashes losses but Omicron hit winter bookings

Ryanair slashed losses in the final quarter of 2021 but the emergence of the Omicron variant cut into the normally busy winter holiday travel season, the no-frills airline said Monday.

Ukraine crisis adds to inflation jitters as ECB meets

Soaring inflation will be in focus when European Central Bank governors meet on Thursday, as the threat of war in Ukraine risked further fuelling already sky-high energy prices in the region.

Ukraine tensions jumble up Germany's energy puzzle

Rising tensions with Moscow over Ukraine have exposed Germany's problematic dependence on Russian gas, inflaming an already heated debate over soaring energy prices.

Top oil producers to meet amid record crude prices

The world's top oil-producing countries will meet on Wednesday to discuss a further increase in output, while crude prices have reached seven-year highs rattled by geopolitical tensions.

Dubai Telegraph - Economy (English)

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