Bloomberg The euro area economy expanded faster than previously reported in second quarter, bolstered by a surge in consumer spending. Output rises 2.2% in the three months through June, more than the 2% initially estimated by Eurostat. Household consumption was up 3.7%, with government outlays and investment contributing to growth. Since economies across the region reopened after lockdowns, risks to ...

Bloomberg Volkswagen AG plans to set up a venture capital fund with an initial volume of $355 million to invest in decarbonisation projects and start-ups. Carbon capturing is feasible but expensive, and for some new technologies it’s key to broaden operations and being able to scale up, VW CEO Herbert Diess said. “More and more industries are recognising opportunities, and ...

Bloomberg Italy is leaning towards choosing ex-telecommunications monopoly Telecom Italia SpA and defense specialist Leonardo SpA among its main partners for a new national cloud-services hub, as the government looks for ways to keep public administration data out of foreign hands. State-backed lender Cassa Depositi e Prestiti SpA is in talks with the two companies to create an entity that ...

Bloomberg European shares dropped amid a blurred outlook for global growth, as investors await Thursday’s update from the European Central Bank (ECB). The Stoxx Europe 600 Index was down 1.1% as of 9:01 am in London, trading at its lowest level since August 19 as automakers, banks and industrials led losses. Miners and technology outperformed, but all sectors were lower. ...

Bloomberg Bitcoin’s slump following El Salvador’s troubled rollout of the largest cryptocurrency as legal tender has put several key technical levels into focus that could point to greater losses ahead. The virtual coin was trading at about $44,900 as of 9:15 am in London, having slid as much as 17% a day earlier before paring some of the losses while ...

DUBAI / WAM From its strategic location at global crossroads and strong financial reserves and sovereign wealth funds to investment in major development and infrastructure projects, the UAE has been able to create a modern, dynamic and diverse economy in only 50 years. It is, though, the desire to keep pushing forward, to keep extending the nation’s horizons, that has ...

ABU DHABI / WAM ADQ, a holding company with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy, announced on Tuesday its intention to proceed with listing shares of Abu Dhabi Ports Company PJSC, an Abu Dhabi based global trade enabler encompassing diverse assets including ports, industrial cities and free zones, maritime, logistics and digital. ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Deputy Prime Minister and Minister of Defence of Saudi Arabia, on Tuesday deliberated the prospects of further consolidating the strategic ...

ABU DHABI / WAM Mubadala Petroleum and Eni, the integrated international energy company, have signed a Memorandum of Understanding aimed at identifying cooperation opportunities in the energy transition sector, including the fields of hydrogen and carbon capture, utilisation and storage, that align with their respective decarbonisation targets. The cooperation covers potential joint opportunities in the Middle East, North Africa, South ...

DUBAI / WAM On the International Day of Clean Air for Blue Skies, held under theme “Healthy Air, Healthy Planet”, Ministry of Climate Change and Environment (MoCCAE) launched UAE greenhouse gas (GHG) and air pollutant inventory monitoring, reporting, and verification (MRV) system project. As the UAE advances in addressing climate change and reducing air pollutant emissions while progressively ramping up ...