Dubai Telegraph

Featured

Stock markets push higher but Ukraine tensions urge caution

Stock markets mostly rose in Europe and on Wall Street on Thursday, recovering from recent selling but with investors wary of the escalating Ukraine war on Europe's doorstep.

IMF sees 'limited' impact of floods on Spain GDP growth

Last month's deadly floods in Spain, the country's worst natural disaster in decades, will have a "limited" impact on its "robust" economic growth, the International Monetary Fund said Thursday.

Last news

'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.

Afghanistan poppy cultivation grows 19 percent despite ban: UN

Opium cultivation rose by 19 percent in Afghanistan this year, the UN reported Wednesday, despite a Taliban government ban that almost eradicated the crop.

Toyota maintains net profit forecast despite drop in first half

Japanese auto giant Toyota kept its annual net profit forecast unchanged on Wednesday, despite logging a 26 percent drop for the first half of this financial year.

Dollar soars, bitcoin hits record, stocks gain as Trump win seen

The dollar surged and bitcoin hit a record high Wednesday while most equity markets advanced as traders bet on a victory for Donald Trump as early results for the US presidential election rolled in.

Sarah McBride to be first transgender person in US Congress

Delaware state senator Sarah McBride won a seat in the US House of Representatives on Tuesday, making her the first openly transgender politician elected to Congress.

Florida ballot initiative to extend abortion rights fails: US media

Voters in the US state of Florida cast their ballots Tuesday against a measure that would have overturned the state's ban on abortion after six weeks and allowed the procedure until fetal viability, media reported.

Japan's Tenga wants to make sex toys more mainstream

Hourglass-shaped sex toys casually glide along a conveyor belt through an airy new store in Tokyo, the latest attempt by Japanese manufacturer Tenga to sell adult products without the shame that is often attached.

Asian markets rise with dollar, bitcoin as ealy US results roll in

Most Asian markets rose with the dollar and bitcoin on Wednesday as traders await the outcome of the knife-edge US presidential election, with bets increasing on a Donald Trump victory as early results rolled in.

Spain unveils $11 bn aid plan after catastrophic floods

Spain on Tuesday announced an aid package worth 10.6 billion euros ($11.5 billion) to rebuild regions devastated by its worst floods in a generation that have killed 219 people.

US writes off over $1 billion of Somalia debt

The United States and Somalia reached an agreement on Tuesday for Washington to cancel more than $1 billion debt owed by the troubled Horn of Africa nation.

Stock markets climb, dollar dips as US votes

Major stock markets mostly rose and the dollar remained under pressure Tuesday as Americans cast votes in a knife-edge presidential election.

Boeing union approves contract, ending over 7-week strike

Striking workers at Boeing approved a new contract proposal late Monday, ending a more than seven-week stoppage that had cost the beleaguered aviation giant billions.

Stock markets rise, dollar falls as US votes

Major stock markets mostly rose and the dollar remained under pressure Tuesday as Americans cast votes in a knife-edge presidential election.

US September trade deficit widest in over two years

The US trade deficit expanded in September to its widest since early 2022 as imports increased while companies stocked up ahead of possible disruptions like a dockworkers' strike, according to government data released Tuesday.

'Black day': French workers protest Michelin plans to close two plants

Michelin factory workers burnt tyres in western France on Tuesday and vowed to stage a strike after the tyre company said it would close two plants by early 2026 over collapsing sales.

Saudi Aramco's quarterly profit drops 15% on low oil prices

Energy giant Saudi Aramco reported a 15 percent year-on-year drop in third quarter profit on Tuesday, citing prices which have stayed low despite production cuts and war in the Middle East.

Spain unveils aid plan a week after catastrophic floods

Spain on Tuesday announced an aid package worth 10.6 billion euros ($11.5 billion) to rebuild regions devastated by its worst floods in a generation that have killed 218 people.

Europe auto struggles lead to cuts at Michelin, Germany's Schaeffler

French tyre company Michelin said Tuesday it would close two French plants by early 2026 and German parts maker Schaeffler announced 4,700 job cuts, the latest signs of struggles in the European auto industry.

Most Asian markets rise as US heads to polls in toss-up vote

Asian markets mostly rose Tuesday, a day before results from the US presidential election rolled in, with opinion polls showing a knife-edge vote, while Chinese equities were boosted by hopes over the country's economy.

Nintendo lowers sales forecast as first-half profits plunge

Nintendo downgraded its annual sales forecast on Tuesday as net profit plunged 60 percent year-on-year in the first half, with fans awaiting the announcement of a new console.

Most Asian markets rise ahead of toss-up US election

Asian markets mostly rose Tuesday a day before results from the US presidential election rolled in, with opinion polls showing a knife-edge vote, while Chinese equities were boosted by hopes over the country's economy.

Saudi Aramco says quarterly profit drops 15% on low oil prices

Energy giant Saudi Aramco reported a 15 percent year-on-year drop in third quarter profit on Tuesday, citing low oil prices.

Boeing union says approves contract, ending over 7-week strike

Striking workers at Boeing approved a new contract proposal on Monday, ending a more than seven-week stoppage that had cost the beleaguered aviation giant billions.

New Hampshire hamlet tied in first US Election day votes

Voters in the US hamlet of Dixville Notch launched Election Day in the first minutes of Tuesday with a tied vote, mirroring the incredibly close national polls in the White House race.

China's premier 'fully confident' of hitting growth targets

Chinese Premier Li Qiang said Tuesday he was "fully confident" the country would hit its economic goals this year, lauding recent stimulus measures and suggesting there was still room for more.

Asian markets swing ahead of toss-up US election

Asian markets fluctuated Tuesday as traders jockeyed for position a day before results from the US presidential election rolled in, with opinion polls showing the vote on a knife-edge as the two candidates wrapped up their campaigns.

Dubai Telegraph - Economy (English)