News

Bloomberg Two of the leading investors at Italy’s Assicurazioni Generali SpA are escalating their battle with the insurer’s management in a push that could include replacing Chief Executive Officer Philippe Donnet. Construction magnate Francesco Gaetano Caltagirone and Luxottica founder Leonardo Del Vecchio, who together own about 11% of Generali, reached an agreement to work toward “a more profitable and effective ...

Bloomberg UK Prime Minister Boris Johnson risks strangling growth with higher taxes on business to fix the public finances in the wake of the coronavirus pandemic, the country’s biggest business lobby said. The blunt criticism comes less than a week after Johnson and Chancellor of the Exchequer Rishi Sunak raised payroll levies on workers and companies to help fund health ...

Bloomberg Uber Technologies Inc lost another suit over its drivers’ working rights after an Amsterdam court ruled workers who ferry passengers using the Uber app in the Netherlands are covered by a local collective labour law. The legal relationship between Uber and its drivers meets all of the characteristics of an employment contract, the court said in its judgement. Uber ...

Bloomberg The Greek government raised its growth estimate for 2021, with the country set to repeat the economic performance not seen in about two decades. The revised forecast came after a stronger-than-expected expansion in the second quarter, paving the way for the government to roll out $4 billion of additional tax-relief measures and other assistance to combat rising prices. “Today ...

Dubai / WAM The value of exports and re-exports of Dubai Chamber members increased 21.8 percent year-over-year to reach AED147.3 billion in January-August 2021 period, supported by a rebound in trade activity in Dubai. The chamber pointed out that the exports and re-exports of its members recorded year-over-year growth of 43.9 percent, reaching AED21.4 billion in August. A total of ...

Dubai / WAM Dr Ahmad Belhoul Al Falasi, Minister of State for Entrepreneurship and SMEs, and Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, held a meeting at the Ministry’s headquarters in Dubai with Betty Maina, Cabinet Secretary of Kenya’s Ministry of Industrialisation, Trade and Enterprise Development. The meeting explored the prospects of economic and investment ...

ABU DHABI / WAM The UAE has participated in the 156th session of the Arab League Council, which was held in Cairo at the level of foreign ministers, and aimed to discuss various developments in the Arab region. Khalifa Shaheen Al Marar, Minister of State, represented the UAE at the meeting, which took place at the headquarters of the General ...

ABU DHABI / WAM Etihad Airways has announced its upgraded “Verified to Fly” service to offer a more streamlined and personalised service through its website, etihad.com. This upgrade makes the process quicker and easier for Etihad’s guests to ensure they have all the required Covid-related documents before leaving for the airport. Seven days ahead of travel, all guests will receive ...

DUBAI / WAM Dubai Electricity and Water Authority (Dewa) has won 11 trophies at the prestigious Globee Business Awards in San Francisco, USA. As part of the 13th Annual Golden Bridge Business and Innovation Awards, Dewa earned four awards, two gold and two silver, as well as seven other awards at the 8th Annual 2021 Customer Sales and Service World ...

Dubai / WAM The Dubai Financial Market (DFM) on Sunday announced that it is planning to launch new equity futures contracts on individual stocks of three leading listed companies including; Dubai Investments, DFM Company and Shuaa Capital, on September 19, as part of its strategy to diversify investment opportunities. The new equity futures contracts shall bring total number of contracts ...