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Bloomberg Prime Minister Mario Draghi is seeking to restart Italy’s economy through a plan based on about $241 billion of European Union (EU) funding, with most of the cash allocated to digitalisation and transitioning to green technologies, according to a draft seen by Bloomberg. The windfall from the EU grants and loans will boost gross domestic product (GDP) by at ...

Bloomberg Brazil President Jair Bolsonaro enacted a budget that will likely keep growing in size this year, as the government faces competing demands to spend more during the pandemic and to fund lawmakers’ projects in their home states. Bolsonaro vetoed almost 20 billion reais ($3.7 billion) in expenses, including 12 billion reais that had been set aside for lawmakers’ projects ...

Dubai / WAM A wearable device that warns when social distancing is not being respected and a Jordanian programme helping vulnerable communities grow online businesses during lockdown are among five new projects selected from a call for Covid-19-related proposals from Expo 2020 Dubai’s Global Best Practice Programme. The hand-picked initiatives join 45 existing best practice projects, whose simple, effective and ...

Dubai / WAM DMCC, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, has announced the signing of a sale and purchase agreement (SPA) with REIT Development to establish the largest precious metals refinery and storage facility across the GCC and the first to be completely enabled by blockchain in the GCC. As part ...

ABU DHABI / WAM Zakat Fund has signed a strategic Memorundum of Understanding (MoU) with the Ministry of Foreign Affairs and International Cooperation (MoFAIC), to improve services rendered to UAE nationals overseas. The agreement, signed by Abdullah bin Aqeedah Al Muhairi, Secretary-General of the Zakat Fund, and Khalid Abdullah Belhoul, Undersecretary of MoFAIC, embodies the directives of the UAE visionary ...

ABU DHABI / WAM Annual charity initiative ‘Ataya’ announced that its new online shopping destination will be launched on Thursday. Organised by Emirates Red Crescent, Ataya has become a pillar of the Abu Dhabi’s cultural calendar and a hallmark in the field of social and humanitarian work in the UAE and across the world, according to a press release issued ...

Bloomberg The European Union was poised to agree its first criteria for green investments on Wednesday, in a move that could set a benchmark for the world to follow. The stakes are high: the EU wants to raise up to 250 billion euros ($301 billion) using its first green bonds, and private funding is likely to follow into the approved ...

Bloomberg President Vladimir Putin warned rival nations not to cross Russia’s “red line” in their actions or face a tough reaction. “Russia’s response will be asymmetric, quick and harsh,” Putin said in his annual state-of-the-nation speech on Wednesday. “They will regret it more than ever before.” Putin didn’t single out any rivals for criticism, saying Russia would decide where its ...

Bloomberg Toronto health authorities will order workplaces across Canada’s biggest city to close if they have more than five confirmed cases of Covid-19. The decision overrides less stringent provincial orders, and follows a similar move by Peel Region, a western suburb. It comes as the city struggles to contain a surge in variant cases that threatens to collapse the local ...

Bloomberg Canadian dealmaking is extending its boom, as a bidding war between two railway operators contributes to a tripling in mergers and acquisitions volumes. Companies from Canada have been involved in $184 billion of transactions this year, including agreed deals and more preliminary proposals, according to data compiled by Bloomberg. That’s up 198% on the same point in 2020 and ...