Dubai Telegraph

Featured

European bank battle heats up as UniCredit swoops for Commerzbank

Italian bank UniCredit on Monday made a 35-billion-euro ($40 billion) takeover offer for Commerzbank, sparking fury from Berlin and a defiant vow from the German lender to defend its independence.

Italian bank UniCredit makes bid for Germany's Commerzbank

Italian bank UniCredit on Monday made a 35-billion-euro ($40 billion) takeover offer for Commerzbank, a move likely to provoke fierce resistance from the German lender and the government in Berlin.

Last news

Saudi forces down drones after Iran vows to target oil resources

Saudi forces intercepted more than two dozen drones Friday after Iran vowed to attack oil resources in the Middle East and said it would maintain a chokehold on the Strait of Hormuz that has sent crude prices soaring.

US jury to begin deliberations in social media addiction trial

Jury deliberations are set to begin Friday in a landmark social media addiction trial accusing Meta and YouTube of intentionally trying to hook young internet users.

Top US, China economy officials to meet for talks in Paris

Top economic officials from the United States and China are set to convene in Paris, the Treasury Department said Thursday, ahead of President Donald Trump's planned meeting with Chinese leader Xi Jinping in April.

Noma's star chef quits after claims that he hit and bullied staff

Danish superchef Rene Redzepi -- whose Noma restaurant was long regarded as the world's best -- said he was stepping down Thursday after allegations that he abused and bullied staff for years.

Oil tops $100 as Iran vows to keep Hormuz closed

Oil prices soared above $100 and stock markets extended losses as Iran's new supreme leader ordered the Strait of Hormuz to be kept closed.

Lufthansa flights axed as pilots walk out

Lufthansa said about half its flights were cancelled Thursday as pilots from the German airline kicked off a two-day strike over pensions.

Oil tops $100 as fresh Iran attacks offset stockpiles release

Oil prices soared Thursday, briefly trading above $100, and stock markets extended losses as fresh attacks against Gulf energy targets offset the release of crude reserves by major economies.

US military 'not ready' to escort tankers through Hormuz Strait: energy secretary

The US military is currently "not ready" to escort tankers through the critical Strait of Hormuz because all its assets are focused on striking Iran, Energy Secretary Chris Wright said Thursday.

WWII leader Churchill to be removed from UK banknotes

World War II leader Winston Churchill is to be dropped from the UK £5 banknote in favour of a nature scene, sparking outrage from some lawmakers who said he should not be replaced by an otter or badger.

EU vows to 'respond firmly' to any trade pact breach by US

The EU executive on Thursday vowed to "respond firmly" to any violation of a key tariff deal by the United States after President Donald Trump's administration announced new trade probes.

Oil tops $100 as Iran attacks offset stockpiles release

Oil prices soared Thursday, briefly trading above $100, and stock markets extended losses as Iran's attempts to hit supplies in the Middle East offset the release of crude reserves by major economies.

Mideast war to brake German recovery: institute

The surge in energy prices triggered by the Middle East war will slow the struggling German economy's recovery, an economic institute warned Thursday.

BMW sees tariffs easing and China stabilising in 2026

German carmaker BMW said Thursday it expected tariff wars to ease in 2026 saw a tentative turnaround in China after posting results dampened by both trade tensions and competition from Chinese rivals.

China-North Korea train arrives in Pyongyang after 6-year halt

A passenger train from China arrived in the North Korean capital on Thursday, state media said, after a six-year hiatus since the service was suspended during the Covid-19 pandemic.

Businessman or politician? Billionaire Czech PM under fire again

Since entering politics in 2011, Czech Prime Minister Andrej Babis has been grappling with a conflict of interest as a billionaire businessman and politician, and his latest stint in power is no exception.

Cathay Pacific roughly doubles fuel surcharge on most routes

Hong Kong aviation giant Cathay Pacific announced new fuel surcharges for most routes Thursday that are roughly double the existing ones.

China approves 'ethnic unity' law condemned by rights groups

China approved what it called an "ethnic unity" law on Thursday, which rights advocates warn could further marginalise minority groups such as the Uyghurs.

BMW profit holds up despite Trump tariffs, China woes

German carmaker BMW reported a three percent fall in annual profit on Thursday, despite US tariffs and cutthroat competition in China, far smaller than the double-digit plunges seen at rivals.

Electric vehicle rethink to cost Honda almost $16 billion

Japan's Honda said Thursday it expected to book nearly $16 billion in expenses and losses related to a major reorientation of its electric vehicle (EV) strategy, blaming US policy changes and tariffs.

From Kyiv to UK, Ukrainian drone production spans Europe

In an inconspicuous building near the UK's Mildenhall air base, drone manufacturer Ukrspecsystems is opening a new production line, like other Ukrainian arms companies looking to secure supply chain and boost capacity.

Australia to change fuel quality standards to boost supply

Australia will adjust fuel quality standards to allow higher sulfur levels for around two months in a move that will release 100 million litres into the domestic supply, officials said Thursday.

Co-founder of Copenhagen's Noma steps down after abuse allegations

The co-founder of Noma, several times crowned the best restaurant in the world, Danish chef Rene Redzepi said Thursday that he was stepping down, following reports of past abuse at his fabled restaurant.

War disrupts fertiliser supplies, puts food security at risk

With production in the Gulf countries at a standstill and gas prices rising, the war in the Middle East is disrupting the supply of fertilisers and posing risks for food security.

Oil prices jump despite strategic reserve release

A record release of oil from strategic reserves by IEA nations failed to ease concerns about the impact from the Middle East war, with crude prices pushing further higher and stocks sliding.

Man set himself alight in fatal Swiss bus fire: prosecutor

An inferno on a Swiss bus that killed six people was seemingly started by a "disturbed" man on board who set himself alight, the investigating prosecutor said Wednesday.

British fintech Revolut gets full UK banking licence

British fintech company Revolut on Wednesday said it had obtained a full UK banking licence from regulators, lifting restrictions on it competing with established retail lenders.

US consumer inflation unchanged but price shocks from Iran war loom

Consumer inflation in the United States remained stable at 2.4 percent in February, official data showed Wednesday, with price shocks from the US-Israel war on Iran yet to be reflected in the data.

IEA says members to release 400 mn barrels from oil reserves

The International Energy Agency said Wednesday its member countries would unlock 400 million barrels of oil from their reserves to ease the impact of the Middle East war, the biggest such release ever.

US consumer inflation unchanged at 2.4% year-on-year in February

Consumer inflation in the United States remained stable at 2.4 percent in February, in line with market expectations, government data showed Wednesday, as affordability concerns persist in the world's largest economy.

German defence giant Rheinmetall sees business boost from Mideast war

German arms maker Rheinmetall said Wednesday the Middle East war offered new business opportunities, especially for its air defence systems, as it forecast continued strong growth this year.

Malawi court dismisses 15-year lawsuit against Madonna charity

A Malawi High Court has dismissed a wrongful‑termination case against US pop star Madonna brought by the sister of a former president, in one of the country's longest-running NGO disputes.

Airlines grapple with impact of Mideast war

Global airlines are grappling with the effects of the war in the Middle East, as fuel prices soar and customers reassess their travel plans.

Dubai Telegraph - Economy (English)