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Germany to lift travel warning for most countries from July

  • BERLIN: Germany will lift its pandemic travel warning for most countries from July 1, Foreign Minister Heiko Maas said Friday, bringing back more normalcy as citizens are increasingly vaccinated against COVID-19. Countries recording infection rates of 50-200 cases per 100,000 people in seven d...

Stocks and oil rebound as investors seek bargains

  • Stocks and oil rebounded on Monday on bargain-buying from last week's blow-out, with traders riding a wave of optimism following pre-weekend Wall Street gains. "Markets enter the new week with some renewed optimism, having ended the previous week's tumultuous ride in positive fash...

Omicron is an opportunity for investors: JPMorgan

  • Turmoil in global equity markets due to the new omicron variant could be an opportunity for investors to rebuild positions, JPMorgan has said.   According to Bloomberg, the American investment bank suggested the latest evolution of the COVID-19 virus might ultimately be a positive f...

IMF likely to lower its global economic growth estimates due to omicron threat

  • WASHINGTON: The International Monetary Fund is likely to lower its global economic growth estimates due to the new omicron variant of the coronavirus, the global lender’s chief said at the Reuters Next conference on Friday in another sign of the turmoil unleashed by the ever-changing pandemic....

Oil prices exceed $70 pushing aside omicron concerns

  • JEDDAH: Oil prices rose to $70 a barrel earlier on Dec. 7, as concerns eased about market demand and as fears of the omicron variant waned, Bloomberg reported. Brent crude futures were up $1.66, or 2.3 percent, at $74.74 a barrel by 1005 GMT, after settling 4.6 percent hig...

Fuel price rises could slow airline industry recovery from COVID-19: IATA

  • Jet fuel price rises are putting pressure on airlines as they cope with suppressed demand caused by the omicron variant of COVID-19, according to a new report from the International Air Transport Association. The IATA has warned the rise in fuel to its highest level since late-2018 could thre...

Charriol unveils chic watch for younger audience

  • Swiss watchmaker Charriol has introduced “Slim,” a 34 mm timepiece line aimed at a younger audience. Its ultra-chic design is intended to give an edge to any daytime or evening look and comes in a variety of colors. Kept deliberately minimalistic, the dials are worked entirely in mother-of-pe...

Airlines say new UK rules cause vacation uncertainty

  • LONDON: Airlines and holiday providers on Friday expressed frustration with the UK’s plans to ease travel restrictions, saying uncertainty about how and when the new rules will be implemented make it difficult for people to book summer vacations. The government on Thursday expanded its “...

Emirates doesn’t see travel recovery until year-end

  • DUBAI: International travel is likely to remain subdued until the end of the year as countries reintroduce tough restrictions to control COVID-19 infections, the head of Dubai-based airline Emirates said on Wednesday. The comments from Tim Clark represent a more pessimistic view after he told ...

Goldman cuts Q3 Brent forecast to $75 a barrel on Delta demand hit

  • BENGALURU: Goldman Sachs on Tuesday reduced its forecast for Brent crude oil to $75 a barrel for the third quarter, $5 lower than its previous estimate, as a surge in Delta variant COVID-19 cases takes a toll on demand. Oil prices fell $5 a barrel on Monday in response to fears over the hit to...