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Stock markets diverge, as bitcoin closes in on $100,000

Major stock markets diverged and the dollar was mixed Thursday as traders weighed escalating tensions in the Russia-Ukraine war.

Four tourists die after suspected tainted alcohol poisoning in Laos

Four foreign tourists have died after a suspected mass methanol poisoning from drinking tainted alcohol at a backpacker hotspot in Laos, Western government officials and media said Thursday.

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China to raise local govt debt ceiling to boost struggling economy

China said on Friday lawmakers had agreed to raise the local government debt ceiling by $840 billion, opening up new funds for its ailing economy as they eye the possibility of intensified trade tensions with US president-elect Donald Trump.

Climate change poses multiple risks for banks

Climate change poses risks to banks on several levels: it can directly impact their finances, tarnish their image and land them in the courtroom.

Sony quarterly net profit jumps but forecast unchanged

Sony's net profit jumped in the second quarter thanks to stronger sales in gaming, music and imaging sensors, the PlayStation maker said Friday but left its annual profit forecasts unchanged.

Pharrell Williams to bring star power to Web Summit tech event

Singer Pharrell Williams is due to kick off one of Europe's biggest tech events on Monday, the Web Summit in Lisbon, with organisers keen to move on from last year's edition when several big firms pulled out.

On Kinshasa's streets hairdressers make a quick buck

Standing in a makeshift salon on the side of a dusty backstreet in Democratic Republic of Congo capital Kinshasa Papy Kalume pulled a fresh razor out of his bag.

China poised to approve more help for ailing economy

China is expected to unveil a huge support package for the struggling economy Friday as officials wrap up a key meeting with an eye on the possibility of intensified trade tensions with US president-elect Donald Trump.

Undocumented immigrants in US 'terrified' as Trump returns

Since learning that Donald Trump will return to the White House, undocumented immigrant Angel Palazuelos has struggled to sleep.

US Fed chair says will not leave early if asked by Trump

US Federal Reserve Chair Jerome Powell said Thursday that he would not resign if asked to leave early by President-elect Donald Trump.

US Fed cuts interest rates a quarter point after Trump victory

The US Federal Reserve shrugged off concerns about the impact of Donald Trump's election victory on interest rates and moved ahead with a quarter point cut on Thursday, looking to continue easing borrowing costs on the back of cooling inflation.

What will Trump 2.0 mean for US tech?

What will Donald Trump's second stint in the White House mean for a US tech industry in the throes of an artificial intelligence frenzy?

Equities rise as traders weigh Trump 2.0, rate cut prospects

Major stock markets mostly rose Thursday following Donald Trump's election win that is set to see the returning president unveil US tax cuts and import tariffs.

Peacekeepers wounded in Israel strike in Lebanon, UN says

Five UN peacekeepers were wounded in an Israeli air strike in south Lebanon on Thursday, the United Nations said, in a raid that also killed three civilians.

Bank of England cuts interest rate as inflation slows

The Bank of England on Thursday said it was cutting its key interest further after UK inflation hit a three-year low and signalled more reductions, easing pressure on borrowers.

French parliament approves bill to rein in tourist rentals

The French parliament on Thursday approved a bill aimed at tightening the regulation of tourist accommodation such as Airbnb to combat the shortage of affordable housing.

Pharma giant AstraZeneca says China chief detained

Pharmaceutical giant AstraZeneca said Thursday that the head of its China operations had been detained, after reports the firm was under investigation for potentially illegal data collection and drug imports.

French lawmakers back bill to tighten Airbnb regulation

French lawmakers on Thursday backed a bill aimed at increasing the regulation of tourist accommodation such as Airbnb to combat the shortage of affordable housing.

Nissan announces 9,000 job cuts, slashes sales forecast

Japanese automaker Nissan on Thursday announced 9,000 job cuts as it slashed its annual sales forecast, saying it was taking urgent measures to tackle "a severe situation".

Most stocks rise, bitcoin hits record as traders weigh Trump 2.0

Asian equities mostly rose Thursday, while the dollar held gains and bitcoin hit a fresh record as markets try to ascertain the consequences of a second Donald Trump presidency after he pledged to cut taxes and ramp up tariffs with an eye on China.

China export growth beats expectations with October surge

Chinese exports surged last month at their fastest pace in more than two years, data showed Thursday, easily topping forecasts and providing optimism about the economy as officials steel for a potential US trade war after Donald Trump was re-elected president.

Ethiopia's famed honeybees make slow recovery from war

In his stone house perched on a hill in northern Ethiopia, Amanuel Hiluf puts on his protective suit, carefully adjusting the hood and gloves.

Equities swing, bitcoin hits record as traders weigh Trump 2.0

Asian equities fluctuated Thursday, while the dollar held gains and bitcoin hit a fresh record as markets try to ascertain the consequences of a second Donald Trump presidency after he pledged to cut taxes and ramp up tariffs with an eye on China.

Record drought in Amazon impacts 420,000 children: UNICEF

More than 420,000 children in the Amazon basin are being badly affected by a drought parching much of South America that is impacting water supplies and river transport, UNICEF said Wednesday.

Hurricane Rafael triggers nationwide blackout in Cuba

Hurricane Rafael knocked out power to all of Cuba on Wednesday as it made landfall on the island still reeling from a recent blackout and a previous major storm, the national power company said.

Germany's embattled Scholz paves way for early elections

German Chancellor Olaf Scholz said Wednesday amid a deep coalition crisis that he will seek a vote of confidence in January that would pave the way for early elections by March.

Trump's win aided by a relentless focus on the cost of living

Donald Trump's US election victory was, at least in part, down to his success in pinning the blame for a post-pandemic inflationary surge on the Biden-Harris administration.

'We don't feel safe': Serbians lash out after fatal roof collapse

For years, Serbia's leaders boasted of launching a building spree across the country that had touched off a new era of prosperity in the Balkan country.

Low taxes, high tariffs: What a Trump victory means for the US economy

Donald Trump's victory in the 2024 US presidential election is likely to usher in a raft of economic changes at home and abroad, touching everything from foreign trade to the independence of the US central bank.

Germany's Scholz tells Trump: 'We're better off together'

German Chancellor Olaf Scholz on Wednesday congratulated US presidential election winner Donald Trump and urged continued close trans-Atlantic ties, telling him in English: "We're better off together".

UniCredit says needs a year to decide Commerzbank deal

The chief executive of Italy's UniCredit bank said Wednesday there would be no decision on a possible takeover of German rival Commerzbank for at least a year.

Dollar soars, stocks rally as Trump wins US election

The dollar surged, stocks rallied and bitcoin struck a record high Wednesday as the world gears up for a Donald Trump presidency that analysts say could rekindle inflation.

Obesity drug maker Novo Nordisk posts strong profit

Danish pharmaceutical giant Novo Nordisk, maker of the blockbuster diabetes and weight-loss drugs Ozempic and Wegovy, posted Wednesday strong third-quarter earnings despite being held back by production constraints.

Dollar soars, bitcoin hits record, as Trump claims victory

The dollar surged and bitcoin hit a record high Wednesday before Donald Trump claimed victory in the US election, with traders ramping up bets on fresh tax cuts, tariffs, and rising inflation.

Dubai Telegraph - Economy (English)