Bloomberg Confidence in the euro area economy unexpectedly inched up as fears over rising prices slipped for a second month. A gauge compiled by the European Commission rose to 105 in May — up from a revised reading of 104.9 in April. Economists had expected a slight decline to a 14-month low. Falling confidence among manufacturers was offset by ...

  Bloomberg Telecom Italia SpA is seeking an enterprise value of around 20 billion euros ($21.5 billion) for the landline network it plans to sell to Italy’s state lender and a group of international funds, according to people with knowledge of the matter. The company’s shares rise as much as 5.9% and traded up 4.5% in Milan following Bloomberg’s initial ...

Bloomberg US index futures fall after a report that Tesla Inc Chief Executive Officer Elon Musk said the electric carmaker needs to cut staff amid a gloomy economic outlook. Investors are also awaiting key US payrolls data that they will study for clues on the pace of Federal Reserve policy tightening. Tesla shares slid 4.2% in New York premarket trading. ...

  Bloomberg Even better-than-expected earnings haven’t been enough to stem this year’s rout in software stocks, and now the sector is getting hit with another headwind: the stronger dollar. Salesforce Inc, one of the last big tech companies to report first-quarter earnings, surprised investors with a bullish forecast this week. Overall, 85% of software companies in the S&P 500 reported ...

  Dubai / WAM Two months after the curtain came down on Expo 2020 Dubai, the first World Expo held in the Middle East, Africa and South Asia (Measa) region is still celebrating its glorious success after receiving 29 Global Telly Awards across multiple categories for its spectacular Opening Ceremony. The Expo Dubai Explorer App also won a Gold Telly ...

  Abu Dhabi / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a congratulatory message to President Sergio Mattarella of Italy on the occasion of his country’s Republic Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, sent similar messages to president Mattarella, as ...

  AJMAN / WAM Ajman Free Zone (AFZ) announced a remarkable growth of 45% in its e-commerce sector since the beginning of this year, reaffirming AFZ’s position as a global business hub with advanced solutions and state-of-the-art facilities. The announcement was made during AFZ’s attendance in the Seamless Middle East 2022 conference. The latest results can be attributed to the ...

  Abu Dhabi / WAM Port authorities around the world have a major role in supporting sustainable economic growth and delivering a greener future, according to experts and executives meeting in Abu Dhabi for the 7th Edition of Port Authorities Roundtable (PAR 2022). The major annual event brought together port authorities from territories as diverse as Antwerp, Barcelona, Busan, Guangzhou, ...

DUBAI / WAM dnata, a leading global air and travel services provider, announced that it would invest $100 million in green operations in the next two years to further enhance environmental efficiency across its global network. The company’s ongoing investment in infrastructure, equipment and process improvement will support it to achieve its strategic objectives and reduce its carbon footprint by ...

  Abu Dhabi / WAM The Ministry of Economy, in collaboration with UPS, a global logistics and shipping company, launched ‘ScaleUp Export’ initiative under the Entrepreneurial Nation, which was launched by the ministry in November 2021. Abdullah bin Touq Al Marri, Minister of Economy, said that the UAE, based on the vision of its wise leadership and in line with ...