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Bloomberg A full global deal to overhaul taxation rules and make multinationals pay more in countries where they operate may not be achieved until October, the chief of the Organisation for Economic Cooperation and Development (OECD) said on Monday. Speaking in Paris, Angel Gurria said a “180-degree change in the position of the US” has accelerated the talks, making an ...

Bloomberg Sweden’s economy returned to its pre-pandemic level in the first quarter as the recovery in the largest Nordic economy is outpacing most of its wealthy peers. The gross domestic product was unchanged in the first quarter from the year-earlier level, on a calendar-adjusted basis, according to the Stockholm-based statistics office. Swedbank’s analysts Pernilla Johansson and Maria Wallin Fredholm said ...

Bloomberg Assicurazioni Generali SpA offered to buy Italian insurer Societa Cattolica di Assicurazioni SC in a deal valuing the smaller rival at 1.5 billion euros ($1.4 billion). Generali, which already has a stake of about 24% in the company, is offering investors 6.75 euros per Cattolica share in an all cash deal, the insurer said in a statement. The offer ...

Bloomberg The US merchandise-trade deficit narrowed for first time this year as the value of exports surged to a record and imports fell from an all-time high. The deficit shrinks to $85.2 billion from $90.6 billion in March, according to Commerce Department data. The median estimate in Bloomberg survey of economists had called for a $92 billion shortfall last month. ...

DUBAI / WAM As part of the ‘100 Million Meals’ campaign, Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI) announced the allocation of an additional 19 million meals to the Gaza Strip. In collaboration with the United Nations World Food Programme, low-income families and individuals will receive food vouchers, equivalent to 19 million meals, to empower them to purchase a ...

ABU DHABI / WAM Mubadala Investment Company on Sunday announced that it has invested GBP 350 million (AED1.82 billion) in IVC Evidensia, Europe’s largest veterinary care provider. Headquartered in Bristol, UK, IVC Evidensia operates a network of more than 1,500 veterinary clinics and hospitals in 12 countries across Europe caring for over four million pets. Founded in 2011, the company ...

ABU DHABI / WAM The UAE has condemned the Iran-backed Houthi terrorist militias’ systematic attempts to attack civilians and civilian objects in Khamis Mushait, Saudi Arabia, with an explosive drone, which was intercepted by the Coalition Forces. In a statement released by the Ministry of Foreign Affairs and International Cooperation (MoFAIC), the UAE reiterated that these systematic terror attacks by ...

Bloomberg India expanded an emergency credit program to airlines and hospitals to cushion them from the impact of a wave of coronavirus infections and deaths. The loans, which were previously intended for specific sectors such as small borrowers, can be availed until September 30 or until total guarantees worth 3 trillion rupees ($41 billion) are offered, the Finance Ministry said ...

Abu Dhabi / WAM Emirates Post on Sunday signed a Memorandum of Understanding (MoU) with the Sharjah Investment and Development Authority (Shurooq). The MoU stipulates the launch of commemorative postage stamps and special edition postcards that will be sold to visitors of the Al Bareed Café, a unique coffee house located in the “Heart of Sharjah.” Rashed Huraiz Alfalasi, Acting Chief ...

ABU DHABI / WAM The Georgian Ambassador to the UAE, Paata Kalandadze, has affirmed that the relations between the UAE and Georgia have witnessed continuous growth at various levels since the establishment of diplomatic relations between the two countries in 1992. In a statement to the Emirates News Agency (WAM) marking his country’s independence day anniversary, Kalandadze said that Georgia ...