World economy
Dubai Airports passenger traffic may reach pre-Covid levels earlier than expected, CEO says
Air passenger traffic in Dubai may reach pre-pandemic levels in 2024, a year earlier than previously expected, Dubai Airports CEO Paul Griffiths said. Karim Sahib | AFP | Getty Images Air passenger traffic in Dubai may reach pre-pandemic levels in 2024, a year earlier than previously expected, Dubai Airports CEO Paul Griffiths said. “We recorded […]
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European markets close higher despite hot U.S. inflation data; Stoxx 600 up 1.6%
LONDON — European stocks closed higher Wednesday, with investors largely shrugging off hotter-than-expected inflation data out of the U.S. The pan-European Stoxx 600 provisionally closed up 1.6%, with autos jumping 3.6% to lead gains as all sectors traded in positive territory except health care, which fell 1.2%. The gains in Europe come after some choppy […]
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Shanghai’s big automakers saw production plunge by 75% in April after lockdowns began
Although Shanghai began in mid-April to prioritize several hundred companies for resuming work, foreign business organizations have said that doesn’t mean the factories can operate at full capacity. Tian Yuhao | China News Service | Getty Images BEIJING — Auto production plunged in April as Covid lockdowns halted nearly all non-essential business in the metropolis of […]
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China’s consumer prices hit a six-month high as Covid prompts locals to stock up on food
Fresh vegetable prices rose by 24% year-on-year in April as consumers stocked up to prepare for potential stay-home orders. Pictured here is a delivery driver for Alibaba’s Hema Fresh supermarket in Beijing on May 10, 2022. Jade Gao | Afp | Getty Images BEIJING — China’s consumer and producer prices rose more than expected in […]
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UAE, Saudi energy ministers hit back at ‘NOPEC’ bill, say it could send oil prices surging
UAE Energy Minister Suhail Al Mazrouei says moves by U.S. authorities to introduced NOPEC legislation would bring chaos to energy markets. AFP | Getty Images Top OPEC ministers have hit back at new U.S. legislation intended to regulate its output, saying such efforts would bring greater chaos to energy markets. UAE Energy Minister Suhail Al […]
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More U.S. companies in China cut forecasts, scale back investments as Covid persists
Truck drivers, such as the one pictured here in Shanghai in late April, typically need to show valid negative virus tests in order to move goods between cities in China. The American Chamber of Commerce in China said members have reported varying implementation of Covid controls depending on city and province. Vcg | Visual China […]
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European markets close down 2.8% as travel, tech stocks lead losses; oil prices fall 5%
LONDON — European stocks on Monday fell to two-month lows as global investors fled risk assets en masse due to fears over inflation. The pan-European Stoxx 600 provisionally ended down 2.8%, hitting its lowest level since Mar. 8. Travel and tech shares led the losses, down 5.8% and 4.8% respectively, as all sectors and major […]
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Interest rates are surging — here’s how to protect your money
An entire generation is experiencing higher interest rates for the first time in their adult lives. Interest rates have been at historic lows since the global financial crisis — but they’re beginning to creep up. An entire generation of people is experiencing higher interest rates for the first time in their adult lives. Interest rates […]
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Putin blames the West for Ukraine war in ‘Victory Day’ speech
Russian President Vladimir Putin is seen on the screen as he delivers a speech during 77th anniversary of the Victory Day in Red Square in Moscow, Russia on May 09, 2022. Anadolu Agency | Anadolu Agency | Getty Images President Vladimir Putin on Monday tried to defend Russia’s unprovoked invasion of Ukraine in his annual […]
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Saudi king admitted to hospital in Jeddah for tests: Saudi press agency
Saudi Arabia’s King Salman bin Abdulaziz Al Saud. Bandar Algaloud | Courtesy of Saudi Royal Court | Reuters Saudi Arabia’s King Salman bin Abdulaziz was admitted to hospital on Saturday in the Red Sea city of Jeddah to undergo medical tests, the state-run Saudi Press Agency reported on Sunday, citing a statement from the royal […]
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