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  Bloomberg The European Commission told the euro area’s largest economies to reduce debt and modernize labor markets as it again slashed its inflation forecast and warned of slower-than-predicted growth across the 19-nation bloc. France, Spain and Italy, which have persistently failed to hit European Union budget targets, are still off track, the Brussels-based commission said. Gross domestic product in ...

  Bloomberg The European Commission predicts Italy will fail to meet its debt-reduction goal this year and sees the country’s economy growing less than PM Matteo Renzi’s government estimates. Italy’s debt ratio will remain at 132.7 percent of gross domestic product in 2016, the same level as last year, the European Union’s executive branch said on Tuesday in its spring ...

  Bloomberg U.S. gasoline demand rose at the fastest annual rate in almost 40 years in February as stronger economic growth and cheap fuel prices spur driving in the world’s biggest oil consumer. The Energy Information Administration said late on Friday that U.S. gasoline demand rose to 9.2 million barrels in February, up 556,000 barrels a day from a year ...

    Ritika Sharma / Emirates Business Nestled in the hustle-bustle of the ongoing Abu Dhabi International Book Fair (ADIBF), a wood-designed pavilion hogged much of the limelight with the superlatives of rare books collected from across the globe. From the first edition of the first scientific description of ancient and modern Egypt, to the only surviving leaflet of one ...

  Abu Dhabi / Emirates Business Etihad Airways, the national airline of the United Arab Emirates, introduced Mumbai to its Airbus A380 network with the launch of daily scheduled flights featuring its award-winning The Residence – the world’s first three-room suite on a commercial airliner. Flight EY204 from Abu Dhabi landed at Chhatrapati Shivaji International Airport in Mumbai on Sunday ...

  Dubai / WAM Dubai Holding launched the International Centre for 3D Printing in line with the directives of Vice President and Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum, to make Dubai an International destination for 3D printing by 2030. The project, at Dubai Industrial City, will create a suitable atmosphere and provide ...

  DUBAI / WAM The Dubai Gold and Commodities Exchange (DGCX) crossed 6 million contracts in April, growing 45% over the same period last year whilst maintaining a steady Average Daily Open Interest of 109,487 contracts. Growth was primarily driven by DGCX’s currency segment, which saw a substantial increase of 43% compared to the same period last year trading 5,740,764 ...

  Dubai / WAM The first materials library of its kind in the world is all set to open in Dubai this year. The pioneer project will be the first in the world accessible to both design related industries and the public. D-Town Library will have capacity to display thousands of materials — becoming the largest archive in the globe. ...

  BANGKOK / AP Japan’s foreign minister announced a multibillion-dollar initiative on Monday to promote development in Southeast Asia’s Mekong region, which encompasses parts of Vietnam, Laos and Thailand through which the river flows. In a speech at Chulalongkorn University in Bangkok, Fumio Kishida affirmed the importance of Southeast Asia’s economic prosperity to Japan. He pledged 750 billion yen ($7 ...

  Bloomberg When European Central Bank policy makers discuss the fate of the €500-note this week, they may want to consider the case of Fabio Rizzi. After the local politician in the Italian region of Lombardy was arrested on corruption charges in February, police found more than €17,000 including €500- and €200-bank notes stashed in his home, according to the ...